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Jeff Kirdeikis Jeff Kirdeiki..
24 Mar
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State of the Market & Uptrennd

 
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Matthew Rosenquist 1 week ago

In evaluating the economic side of the equation, we cannot ignore the safety side.  This virus is not what we normally deal with.  It is a beast.  A once in a centruy event (hopefully) and it puts millions of lives at risk.  The current death rate is 3.4%, but that is likely to rise as more data comes in.  It is highly infections, about double that of the seasonal flu.  Estimates of global infection, if we do nothing, could range from 70%-90%.  

Most people are terrible with large numbers, including myself.  So let's take the U.S. as an example.  The United States, the 3rd most populous nation, has about 330 million people.

330,000,000 (total people in the U.S.) x 70% (estimated infection rate) x 3.4% (mortality rate of Covid-19) = 7,854,000 people that may die in the U.S. if the current infection and mortality rates hold (i.e. the world handles this poorly).  

So, yes there is great potential economic impacts but let's keep it in the context of mishandling the situation to the detriment of millions of Americans, not to mention the potential of 100 million worldwide.  

The focus must be around safety.  Development of effective innoculations and treatments are the key.  Isolation gives time for both to happen in a timely and controlled manner.

Jonny Dee 1 week ago

It isn't a great time economically. I am based in Prague, which is a massive tourist hotspot and everything is closed, I feel sorry for all those people who rely on the incoming tourist to make their living. 

I think this virus has shown how fragile our systems are and that we need to rethink them, it's been a few weeks since some countries have been in lockdown and they are talking about printing infinite amounts of money etc, any strong business should have 6 months of runway and shouldn't be panicking after a few weeks, but here we are.

I honestly think we will see a dip in the markets and I don't know if this will be a good or a bad thing, depends on your situation. I think housing is far too expensive, and i've seen in Prague over a few week rent has dropped dramatically because Airbnb owners need to make cash.

But i don't agree with just printing a load of money, I also don't agree on universal basic income unless it is done very carefully. I feel we slip down a dangerous slop offering money for people to do as they please, and all it takes is another party to offer more to the people for people to switch sides. 

The most important thing is to make sure you are safe, healthy and looking after your loved ones and if you have time helping the community. Stay indoors, i believe with the technology we have most people can make some form of money on the internet (Look at Uptrennd!).

Ogwal Frederick 1 week ago

These days even speculating the price movement for BTC has left little to nothing but rather disappointed " the so-called experts are loosing tones of money. 

At first, I was amongst the many people who believed that BITCOIN HALVENING would bring some sharp rise in price. This is mainly bcause of the basic economic of supply-demand effect. 

But what is happening right about now is making it hard to know what comes next for BTC future performance.

There must be strong use cases for BTC Jeff, use case is very important. If people cannot find reason to use BTC, then why would someone jump into focusing on  stored value. We have to first make sure people can accept BTC as a mean of transaction, then its value will be protected religiously.

Jeff Kirdeikis 1 week ago

Exactly.

If the lighting network was at-scale right now, I beleive the narrative around BTC would be drastically different.

Coinoclast II 1 week ago

User-friendliness of crypto is still abysmal, 99% of people won't understand it. Hard to be a widely recognized store of value in such a situation

Ivan KR 1 week ago

Yeah, universal basic income could be a great help for a lot of people, but I wonder what will happen when we hit the hyperinflation... Are people going to "protest for more"?


It is most probably going to happen. The events that the world is facing right now have never been seen before. To name a few: the virus, the unlimited printing of money, and that there are a lot more elderly people than ever before but a lot less young people to earn enough for pensions, healthcare, etc.


If there is a good side to all of this at all, it would be that more people will realize the power of this whole crypto space, thus the rotten economic system could be changed for good.


Also, I see Uptrennd as a major game-changer too, so I'm sure it will be growing despite all the turmoil.

✌️

Betty Ozemoje 1 week ago

I don't think any one have a clue of what's going to happen next in the crypto market 

Personally I will rather stay optimistic and hope for the best. 

There are great chances for the crypto market to soar high. 

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