I’m neither “worried” about the US stock market, nor am I in this case implying US government policies have anything to do with the situation. That was not my point. I’ve been waiting for the stock market to crash mainly out of curiosity about how that might affect crypto. Some see Bitcoin as the new gold. I don’t. I think crypto is far from ready to be anything like that. It’s just interesting to watch, just like the Pound crashing.
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Don’t worry? Don’t worry? The bond market is telling you a different story. 10y treasuries are trading 30bp through 3month bills (most since before the 2008 crisis I think). Powell had to be a little less dovish than the official text to avoid the question “if the economy is so weak, why only 25bp?” . The 25bp doesn’t nothing to combat implied tightening from stronger dollar (even if u add loosening from end of QT). The US job report was a disaster - downward revisions; only government jobs added (clue: they don’t count, as they just add debt and more obstacles for business). Where is the economy booming please?
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I’m not sure where you are getting your information, but the US added 164K jobs in July, a solid number basically right at expectations (which were high). Despite some downward revisions, average job gains are 140K/monthly over the last three months. Unemployment remains at near record lows (even U-6 is at 7%, which is very low), and the US labor force is the largest it’s been in history. Hourly wage earnings are up 3.2% year over year, which far outpaces inflation, meaning consumer spending is likely to increase, especially in conjunction with the lowering of the fed rates.
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is unemployment really a great economic indicator? I mean if we had robots doing all the jobs for us the economy would be doing great IMO. Or if a company invents a cheap/clean/scalable energy source. That company would make insane profits (and arguably improve the economy.) But the general public would not be getting more money to spend so much as something they are already spending on for cheaper. Does the fact the coffee shop can hire an extra kid to bumble around and still get my order wrong mean the economy improved? Not saying its an issue not worth caring about, but I think its more a quality of life indicator.
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All Swiss bonds out to 30 years are in negative territory. Think about that for a minute. Is it the canary in the mine I hear.
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50,000 jobs in the health sector tells me that things are getting worse all round in the US and elsewhere.
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It is when paired with wages that outstrip inflation. That indicates high consumer spending which is a strong economic indicator.
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Wow. Two positive tweets in three days. It’s completely down to bitcoins rise, but good to see two lots of
10% jumps in a few days.
Looking forward to hitting $0.25 so I can show my face around the people I recently got to buy in.
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For a decent analysis of the latest payroll report I would suggest listening to the Peter Schiff podcast from 2nd August. While i disagree with him on crypto and think he has just been too early on his predictions of impending doom, his analysis of the data is very good.
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Imagine how popular you will be when Maidsafe hits 50 cents.
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I like Peter Schiff, but his doom and gloom reports should be taken with a grain of salt. He has large ownership in companies that deal with gold and silver investment, and shills them pretty consistently (hence his disparagement of crypto). A downturn in the economy is good for getting people investing in exactly what he shills. Not really a surprise.
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Totally agree. He is part of a group who use their doomsday predictions to bring in new money and/or sell books.
Schiff has been singing the same tune ever since he was wrong footed by central bankers’ use of extraordinary tools like QE. Ultimately he will be proven correct but as with everything its all about timing. Nevertheless I always make sure I listen to his payroll podcast. I would also be curious to hear his opinion on MAID as a store of value or medium of exchange. His arguments against bitcoin just dont stack up for MAíD.
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I had not considered Bitcoin the way this guy describes it and all the way thru I kept thinking, hell WTF is SafeNet worth
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Interesting interview. Indeed what is SAFENet worth!!
When he mentioned that there are thousands of people working on and thinking about crypto, it reminded me of two Nikola Tesla quotes.
“The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite insane.”
and
“Today’s scientists have substituted mathematics for experiments, and they wander off through equation after equation, and eventually build a structure which has no relation to reality.”
Right now there is a lot of deep thinking and wild ideas when it comes to crypto. Few projects show depth and clarity.
The SAFE Network is a deeply thought out and clearly planned project. When the world recognizes this we will solidly be back in the top 10.
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are you suggesting that people here are “quite insane”? 
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World; “That’s impossible”
MaidSafe and the Community; “Inch by inch, anything’s a cinch!”
I know who is insane…
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we either the fools or the ‘‘few’’ smart ones out there to be invested in safenet, time will tell. Back in mid 2017 i tried to convince all my friends and some family members to invest, only one friend did invest a bit in it. I really hope to see the surprised and bitter faces of the people i didnt succeed to convince to invest in safecoin when we go parabolic and beyond.
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MAID / SAFECoin comes with an immediate reason to buy the coin. The use of the underlying network to do actual web stuff.
This need will bootstrap the currency faster than anyone will expect. We don’t have to rely on “just trust us, this coin is a store of value”
When the time comes and we see a significant jump in price, people’s “rush to the entrance” will make it impossible to buy cheaply.
The people that turned down your advice will be a little upset.
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Yeah but un the meantime people have kept saying “it will pump like hell” for years, and still nothing… I can understand why external people are skeptical with the project. It could have a very good futur but so far there is nothing really valuable.
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