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Are you safe? Corona and crypto - Carsten - 2020-03-24

Hi to all of you still reading this forum.

It's been a while since I posted and the reason for that is a mix of things that just have been more important, but now I would like to make a post.

First of all I want to say that the world have never in modern time seen such a deadly pandemic that we are facing now. I therefore really hope you are all safe where you are and that you follow the guidelines of your police and governments. In these times I chose to follow the guidelines instead of making questions about if their severe impact on my life is valid or not. I think in this case with the Corona virus it's not easy for governments to find the right restrictions to make so maybe they go to far or maybe they don't go far enough. We don't know until it has reached a level where it's under control. We are far from there yet.

We also know that the virus has mutated already and more than 40 version was found on Island in a relatively small population. What is very scary if it's mutate to an airborne version that are more deadly than what we see now. It's therefore important that we for once try to do our duty to the rest of the world and stay home and keep distance to others. Easter is around the corner and one of the important times for families to come together and celebrate. For the first time ever we has to cancel Easter and I guess many of you will do the same.

Let's hope we acted in time and we come through this crises with as few deaths as possible.

The impact on the air traffic is massive. Never ever seen before. Vacations in Italy, Spain, Greece and France is cancelled in massive numbers making it even harder for the people used to provide service for tourists to have an income. Production around the globe is put on hold in many areas related to the aviation industry. Restaurants, hotels and airports are firing staff because of the change in traffic. So what does our governments do to keep the system from collapsing?

That's a good question. Because of the recovery from the last financial crises in 2008 we have massive savings here in Denmark and banks are loaded with money. Our economy is good and can survive this for many months even the government has put a safety net out to compensate all the businesses that has to close because of direct order from the government. In USA Trump is already talking about reopening the country because the cure is more expensive than the disease. It seems Trump is closing his eyes because the pandemic is just started in US. It should peak in 5-6 weeks there. At the same time US is printing money like never before and is virtually bankrupt. We have therefore seen a drop in the value of USD vs. Euro, but today it's slowly coming going up a bit. So just a tip to those who are in USDT, DAI or other stable coins to keep an eye on the value of the dollar.

Then there is gold. Gold took a big dive, but also gold is slowly coming back up.

How about crypto? Well Bitcoin is the base and measured against (the falling USD) it's going up again but it also took a huge hit like all other major cryptos. 

Regarding the future then this crises will change our lives forever. Travel as we knew it is over. The globalization has stopped. Finally we see that moving all production to China was stupid in case of a crises. Now we have it and we are short on many supplies. Some companies now change their production to produces sanitises and protection to the staff working in hospitals. We will see that change all over the world. I think this will have a huge impact on the European and American economy in a few months from now. The question is if the system collapses or survives. 

I bet you that crypto will survive and probably be a better place to put your money than the bank. The printing of money causes inflation and even the crypto fluctuates it will not have the inflation our fiat system does. 

There is many uncertainties in this post. It's written from the top of my head so there is probably spelling errors and minor mistakes, but I thought it was time to reach out to all who read this and give away my thoughts.

Once again I do hope you are all well.

Carsten


RE: Are you safe? Corona and crypto - Hugues - 2020-03-24

(2020-03-24, 04:54 PM)Carsten Wrote: Hi to all of you still reading this forum.

It's been a while since I posted and the reason for that is a mix of things that just have been more important, but now I would like to make a post.

First of all I want to say that the world have never in modern time seen such a deadly pandemic that we are facing now. I therefore really hope you are all safe where you are and that you follow the guidelines of your police and governments. In these times I chose to follow the guidelines instead of making questions about if their severe impact on my life is valid or not. I think in this case with the Corona virus it's not easy for governments to find the right restrictions to make so maybe they go to far or maybe they don't go far enough. We don't know until it has reached a level where it's under control. We are far from there yet.

We also know that the virus has mutated already and more than 40 version was found on Island in a relatively small population. What is very scary if it's mutate to an airborne version that are more deadly than what we see now. It's therefore important that we for once try to do our duty to the rest of the world and stay home and keep distance to others. Easter is around the corner and one of the important times for families to come together and celebrate. For the first time ever we has to cancel Easter and I guess many of you will do the same.

Let's hope we acted in time and we come through this crises with as few deaths as possible.

The impact on the air traffic is massive. Never ever seen before. Vacations in Italy, Spain, Greece and France is cancelled in massive numbers making it even harder for the people used to provide service for tourists to have an income. Production around the globe is put on hold in many areas related to the aviation industry. Restaurants, hotels and airports are firing staff because of the change in traffic. So what does our governments do to keep the system from collapsing?

That's a good question. Because of the recovery from the last financial crises in 2008 we have massive savings here in Denmark and banks are loaded with money. Our economy is good and can survive this for many months even the government has put a safety net out to compensate all the businesses that has to close because of direct order from the government. In USA Trump is already talking about reopening the country because the cure is more expensive than the disease. It seems Trump is closing his eyes because the pandemic is just started in US. It should peak in 5-6 weeks there. At the same time US is printing money like never before and is virtually bankrupt. We have therefore seen a drop in the value of USD vs. Euro, but today it's slowly coming going up a bit. So just a tip to those who are in USDT, DAI or other stable coins to keep an eye on the value of the dollar.

Then there is gold. Gold took a big dive, but also gold is slowly coming back up.

How about crypto? Well Bitcoin is the base and measured against (the falling USD) it's going up again but it also took a huge hit like all other major cryptos. 

Regarding the future then this crises will change our lives forever. Travel as we knew it is over. The globalization has stopped. Finally we see that moving all production to China was stupid in case of a crises. Now we have it and we are short on many supplies. Some companies now change their production to produces sanitises and protection to the staff working in hospitals. We will see that change all over the world. I think this will have a huge impact on the European and American economy in a few months from now. The question is if the system collapses or survives. 

I bet you that crypto will survive and probably be a better place to put your money than the bank. The printing of money causes inflation and even the crypto fluctuates it will not have the inflation our fiat system does. 

There is many uncertainties in this post. It's written from the top of my head so there is probably spelling errors and minor mistakes, but I thought it was time to reach out to all who read this and give away my thoughts.

Once again I do hope you are all well.

Carsten

Good writing, good statements.
It is correct if you say we have to follow the governments guidelines. Even if we mostly don't agree with governments in general.
In this case we don't have to judge their decisions. We will never be able to prove if they acted right, in time, too early or too late.
When all this is over it could be because they acted the right way and in time, but we could also say it could have ended sooner if the reacted sooner.
So let it be clear; we can't prove what is or was right.
Anyway at this very moment it is too late to speculate on these matters. Let's just do what we are told. Let's use our common sense.
Stay at home if you can. There are only a few reasons to leave your homes. Food, medication, a bit of movement. And if it is not one of these reasons let it be for helping others or for real emergency cases.


RE: Are you safe? Corona and crypto - Carsten - 2020-03-24

Thanks Hugues. I just read my own post. Damn it's full of spelling errors etc. :-)

Yes, we agree about following the guidelines given by the government. It's the right thing to do in this situation. Later we can always (those who are alive) question the entire situation and the system in general. Now it's important we stay focused on dealing with the virus, so stay home and stay away from others until told otherwise.


RE: Are you safe? Corona and crypto - Hugues - 2020-03-25

(2020-03-24, 09:49 PM)Carsten Wrote: Thanks Hugues. I just read my own post. Damn it's full of spelling errors etc. :-)

Yes, we agree about following the guidelines given by the government. It's the right thing to do in this situation. Later we can always (those who are alive) question the entire situation and the system in general. Now it's important we stay focused on dealing with the virus, so stay home and stay away from others until told otherwise.

Don't mind about the spelling. English is not our native language.
As long as our messages are understood by the readers.


RE: Are you safe? Corona and crypto - Carsten - 2020-03-25

That's true