I think those who bought at $35 aren't complaining. There's so much hype out there saying it will triple. I keep thinking the hype is from paid media. I still don't get it.
Deaths from vaccine breakthroughs aren't many, but they do exist, as this article from the San Francisco Chronicle Indicates from May 12th:
"California has reported 3,620 so-called breakthrough cases of coronavirus infections in people who were fully vaccinated since Jan. 1, state public health officials said Wednesday. Of those cases, at least 150 people were hospitalized and at least 20 died. State officials stressed that they don’t know how many of those patients were hospitalized or died due to COVID-19. Hospitalized people may have tested positive after being admitted for some other condition and may not have been seriously ill from the coronavirus. Those who died may have succumbed to causes unrelated to COVID-19. The reports mark the first time the California Department of Public Health has released hospitalization and death data for people who were infected with the coronavirus after being fully vaccinated. State officials said they “exploring the possibility” of providing breakthrough data on a public dashboard soon, the same way they publish overall case, hospitalization and death numbers. The 3,620 breakthrough cases represent 0.25% of the more than 1.4 million coronavirus cases reported in California from Jan. 1 to May 5. The 20 deaths make up 0.06% of the 35,677 COVID-19 deaths in that time."
"El Salvador's President Nayib Bukele has made good on his promise to adopt Bitcoin as legal tender. Officials in the Central American country's congress voted to accept the cryptocurrency by a majority of 62 out of 84 votes, reports CNBC. In a worldwide first, El Salvador will accept Bitcoin as legal tender alongside the US dollar in 90 days, according to the BBC. The law effectively means the cryptocurrency can be used as payment for goods or services unless a business cannot provide the tech required to facilitate the transaction."
"El Salvador's President Nayib Bukele has made good on his promise to adopt Bitcoin as legal tender. Officials in the Central American country's congress voted to accept the cryptocurrency by a majority of 62 out of 84 votes, reports CNBC. In a worldwide first, El Salvador will accept Bitcoin as legal tender alongside the US dollar in 90 days, according to the BBC. The law effectively means the cryptocurrency can be used as payment for goods or services unless a business cannot provide the tech required to facilitate the transaction."
I'm super suspicious of the # of Bitcoin articles I see on various sites and feeds. Especially with the speculation of it going to $100,000 - $500,000.
Very few articles in comparison that say it will bust. I guess no one is paying for those articles.
It certainly has been a rough ride since the weekend. There is a fair bit of speculation that the larger entities played fast and loose with LUNA and their algorithmic stable coin, UST. UST was no longer able to hold onto its peg 1:1 to the US dollar. Since UST was backed by a large store of BTC, the head LUNA guy had to sell a huge amount of BTC to cover the losses. LUNA has crashed over 99%, a sudden stunning drop. That stuff caused the BTC price to fall which triggered a lot of margin calls and yikes. Pretty much the whole crypto world has taken a 30% or more haircut.
Interesting timing with Janet Yellen making comments about central banks making their own digital currency.
As a leading cryptocurrency exchange and wallet service, Coinbase has been hit particularly hard by the crash. The company reported a steep drop in revenue earlier this week, and its stock has shed more than half its value over the course of a week. Users were particularly shaken by a financial filing that suggested Coinbase account holders might be viewed as unsecured creditors in bankruptcy proceedings, seeming to suggest that they might lose money from their accounts if the company becomes insolvent. Coinbase CEO Brian Armstrong contested the claims, saying user funds were not in danger.
Coinbase did not immediately respond to a request for comment.
A stable source of currency pegged to their fiat - great. A centralized digital currency that encodes who knows what metadata into every transaction in a block chain. Ummmmm....
I wonder how many people know that they’re unsecured creditors as against the funds in their Chase savings account too.
Except those funds are federally insured
For some perspective, I cannot imagine ever being in a place where we would ever have anywhere close to that $250,000 ceiling. But then, that makes one even less likely to dabble in anything besides stable coins that are supposed to stay pegged to the USD.
I have read that money market funds don't even have that $250k federal insurance, if they are outside of a traditional financial institution like a bank. People may park money in them in a mutual fund company for safe keeping, but the fund can invest in risky leveraged assets, or interest rates can become too low, and they can break the dollar and dip into customer funds which they thought they were safe.
For some perspective, I cannot imagine ever being in a place where we would ever have anywhere close to that $250,000 ceiling. But then, that makes one even less likely to dabble in anything besides stable coins that are supposed to stay pegged to the USD.
I have read that money market funds don't even have that $250k federal insurance, if they are outside of a traditional financial institution like a bank. People may park money in them in a mutual fund company for safe keeping, but the fund can invest in risky leveraged assets, or interest rates can become too low, and they can break the dollar and dip into customer funds which they thought they were safe.
For some perspective, I cannot imagine ever being in a place where we would ever have anywhere close to that $250,000 ceiling. But then, that makes one even less likely to dabble in anything besides stable coins that are supposed to stay pegged to the USD.
You are correct, and it doesn't generally matter where the money market fund is located, either
I wonder how many people know that they’re unsecured creditors as against the funds in their Chase savings account too.
Except those funds are federally insured
For some perspective, I cannot imagine ever being in a place where we would ever have anywhere close to that $250,000 ceiling. But then, that makes one even less likely to dabble in anything besides stable coins that are supposed to stay pegged to the USD.
When one reaches $250K, you open a second account.
I would sell if I were you.