Crash, Evergrande, FED, $SLP... - 53rd 🐯 curation digest
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A few day's ago I had written about China's Lehman moment. The fear in the market is effecting pretty much everything including crypto's. Even though we love our beloved Crypto's, we know they are deeply connected to legacy markets. With the 'revelations' that the FED members are not only profiting off of the market personally really has no effect on the main-stream media. Imagine the casino has cheaters dealing the cards.. and it's even advertised.
Erm my point on this front is that I do not get the correlation with stocks and crypto? Why does Evergrande and China’s pot of tea affect the crypto markets? If anything it should even boost the crypto markets, except ofcourse there is no correlation and today just happened to be another “monday” in crypto.
China's #Evergrande and real estate issue should not affect #crypto adversely. I know a lot of Chinese who exited and put their money away from stocks to crypto.
China's impending real estate collapse is even great for the crypto market as it is a prime investment alternative or something that is being looked into as an alternative as not only by Chinese but many Chinese companies. The only challenge for them is bringing their money outside of China.
This also goes on line of my thoughts as well. I’ll like to believe today’s market price action was as a result of something other than this Evergrande thing I’m seeing everywhere. 25k is never going to happen. When will theee FUDers get the memo?
Today we saw another dip due to another corporate giant failing in their business ventures with Evergrande owing something stupid in excess of $300 Billion. Amazing how businesses are allowed to get into this state as protecting them along the way only makes the eventual outcome far worse. They were one of the Chinese giants when it came to businesses as they even had their own football team that cost the company just under $1 billion in losses over just 6 years.
Thanks for shedding more light on who and what Evergrande does, today is all about Evergrande, $300bilion is not a joke, if one is going to default on such payment, it must have started little by little, so the people behind this must have sort of seen it coming, where are all thes FED’s who claim to protect people’s money now uh? I’ll be looking forward to how Evergrande overcomes this and what the Chinese stance will be. They were crying about Bitcoin, but their legacy system keeps defaulting.
The truth about innovations is that not everyone takes it as it comes no matter what, they are always people not accepting the system for one reason or the other. Over the years, there's been quite a number of reasons for people to hate the world's structure and its effects on human lives. However, this time, there's a table turning, which will outlive its obstacles until there's finally something better than it.
Humans are generally resistant to change, I can remember an article I wrote few weeks ago, in it, a well known engineer called the possibility of having online classes brainless talk. Lol, now look at where we are. A lot of times, people wait to understand something before they use it, this space can be very different, sometimes one needs to use first then understand later. The reality is that as long as the innovations offer genuine solutions it will spread like wild fire whether people like it or not.
It has been a weird experience watching SLP continue to fall.
When I started doing an Axie scholarship about 2.5 months back, I assumed the price of SLP would go down from where it was at that time. Prices in the $0.20+ range being "normal" felt so high that I just had to assume it would go back down.
When I talked to people I would say that it seemed possible to me the token would dip as low as $0.08 to $0.09, prices that seemed really low back when SLP was still around a quarter.
Hmmn very interesting thoughts, what will stop the SLP token from sinking? I don’t think there’s any incentive to hold it, I try to think of the SLP like the DEC, in this moment, the DEC is being held for the SPS airdrops, this is going to go on for the rest of the year, the DEC will likely make new records of highs due to this as people holding are constantly creating price floors just to get more sps. The DEC might fall at the end of the 365 days airdrop but at least there is incentive for now to hold it. If there is no incentive to hold SPS beside speculation, then as people use it as a source of income then there will continually be selling pressure and dumping of price. This is what I think.
This post is created by @mistakili to curate quality content on LeoFinance.
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