Unsurprisingly, considering the proximity, Finland has a fair bit of business dealings in Russia. Also unsurprisingly, when the HSE opened today, it was a bit of a bloodbath for the companies who are connected, with some of them losing up to 8% before recovering a little before close. Of course, this was expected as it is reflecting NYSE on Friday when the likelihood of an imminent invasion of Ukraine by Russia was announced, but the European exchanges had already closed for the weekend.
Remember this dip?
This is a 15 dollar close in April 2020 and today it is up at around 93 dollars for a 600% gain in under two years - which is pretty sizable swing for a "stable" commodity.
It looks like gold might be looking for a new top also.
War is not good for absolutely nothing. It is good for making money in sectors where most people don't play, by people who don't play like most people. While most people avoid risk and uncertainty, those "in the know" lean into it. Crazy people lean in too - that is why we here are in crypto.
But, with all the news of increasing interest rates that will affect mortgage holders, inflation on living costs and the uncertainty around Ukraine - it is no wonder that after two years of controlling people's lives, there is pushback from the people and, the governments are opening up, even though relatively, nothing much has changed in the world, making the last two years, predominantly a waste of time. Extended sieges aren't good for the political parties that enforced them, when the people under siege get to vote who takes over.
Personally, I don't own much in way of assets, other than my house which has a mortgage on it and a collar for the next 10 years, so if those interest rates do climb, at least they can't increase too far from here for me for a while. My friends and the bank told me I was crazy for taking the collar, as it is just extra money down the drain. We'll see.
So, no traditional assets, but I do have a few non-traditional assets - like Splinterlands.
I don't know what is going to happen in the global markets or the crypto markets, but owning something that generates over nothing that generates value has to be the way to go. If there is a case of hyper inflation for example, holding anything will be the go-to play. In the case of a massive recession or depression, holding anything will be the go-to play.
Unless living in the middle of a war zone, owning property is probably a decent call for a part of the holdings. But if you need to move fast, you want to own something that travels well. I think that one of the superpowers of crypto is its ability to "be" wherever you are, because it doesn't have a physical location, as it resides on the blockchain. This gives it all kinds of important traits that will become increasingly relevant the more chaotic this world becomes.
While governments and banks are still warning against it due to the risk, the question really should be why they are warning against it. The reason is that it is far more borderless than fiat and as such, harder to control, so less of an economic weapon that can be used against us.
For example, while the average salary in Finland has gone up by about 50% since I arrived in 2003, the price of fuel has increased by 120% - and about 75% of the cost is in government taxes. Buy electric? The cost of electricity is going up too and what many people don't seem to realize is, chargeable means "renter" unless able to produce enough energy oneself to cover all those mAh.
"Dude, you need to save the environment!"
While they charge their phone three times a day
There is a reason that energy is the most important commodity, because without it, we can do nothing.
A colleague not long back stated that crypto collapses if the internet shuts down. Yes. It does. However, if the internet shuts down, that same person is jobless, has no way to earn, no way to pay their bills, no way to shop - and that is just personally. If it shuts down, the last thing people will need to worry about is their Bitcoin - because it will be the return to the dark ages.
It is actually quite interesting that in most places in the world, if a technology that has only been in usage publicly for about 30 years ceased, we would collapse into a heap. We are all renters on the internet.
Contemplating this doesn't help me in a recession however, nor in hyperinflation - so I think that for most of us, it is going to be a question of whether we have set ourselves up to have some additional diversified revenue streams and whether we have the mental, physical and emotional fortitude to hold on and ride it out.
What I witnessed back in 2008 at the valley of the GFC was that a lot of people who are well educated and reasonably well off, favored keeping their lifestyle over holding their investments. Most people under standard of living duress, seem to have hands of clay. Not a diamond in sight.
In our life times, we probably experience a handful of large economic events that we have some way to affect - but one thing has always been consistent - unless a nomad that can live off the land, ownership is the strategy to come through the other side with the potential to thrive, not just survive under more trying conditions. Ownership - not rentership.
Rent what you are happy to do without.
Own what you want to keep.
Taraz
[ Gen1: Hive ]
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We had an unexpected full outage (there are some rampant conspiracy theories around that given the coincidental timing with a military exercise) here recently (internet and mobile went completely, no data, no signal, nothing, not sure about landlines as we haven't had one for ages) which made me think well that's one way to stop crypto and everything else.
We just need the dedication and the technological advancements required to distribute the internet so it can't be shut down, shouldn't be too hard XD
It was the lizard people.
A few copper wires and some 9v batteries (or some oranges) should be enough.
That's what I was thinking, nice to see I'm not the only one after all XD
I guess logically oranges would work too, we used lemons because there's a tree XD (there is also an orange tree now)
I am not sure which is better between lemons or oranges, but apples don't work. :D
You're just not trying hard enough.
Do you like for me to talk about 10 hours on this topic, probably you don't; but I sure can...probably can manage 100 hours too with very little preparation.
Here is the rub! Politicians and Energy policy makers are completing misjudging the energy need of Europe (and the rest of the world). They are also ludicrously behind on how fast alternative sources of energy will going to step up to fill the need in northern Europe in particular. Shell and BP (perhaps even Total) is officially out of oil & gas game in 5 years time. Equinor is slightly different, but they are the last man standing in the entire European market, and they can't take the heat on their own.
You guys will still need to heat your home. Who will give you that gas? Yeah, the ex KGB guy :) He is playing this game for a very long time, and he will have you by the balls.
Yep. This is why nuclear is the way forward here, but there is pushback by environmentalists... weirdly.
It looks like Norway will have the chance to increase their 1.5% ownership of all stocks globally!
For Finland, I guess we go back to heating with wood. I have a fireplace! :)
Yeah, and plenty of woods in the boreal forests...
that is where the deer and moose live too - so fire and something to cook on it!
It will be interesting to see what happens with this whole conflict thing. The world is a much different place than it was even five years ago and I am not sure how it is going to go over.
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It is going to be used to further control us, as always. But, how bloody it gets is still up in the air.
I hope not too bad. It's sad to think we are still at this place. You would think our borders should be fairly solidified by now...
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I think it is the borders that are the problem. We "solidify" them in some way, but war is not about the border, it is about money. In this way, we as citizens are trapped within our borders, but the global economy that profits from war, is borderless.
I guess I don't know enough about the backstory to know what it is Ukraine has that Russia wants.
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Me either.
I just did a quick search and thought I had the answer:
But I guess not:
War is no good. I don't like it and almost always ends terribly. We own our home and also decided long ago to hedge against inflation by buying (not paper investing) metals, crypto, etc. Incremental purchases add up over time. YES yes yes.. Better to own than to rent or own paper investments.
But I do hear that timeshares are a good investment ... 🤣
War sucks - the people who glorify it, have likely never seen it.
Timeshares!! I haven't heard about them for ages!
A lot of people lean on that if the internet goes down when they don't know crypto. If the internet went down, like you said, Bitcoin won't be on our mind.
You'll be fine... you have a tent ;D
Solar powered.
Wise advice. Invest in what has a proven track record. I like hard assets. And yes, rent that which you can do without if necessary. It is basically the fatty excess, that will drag you down in the long haul. And finally, don't invest more than that which you can afford to lose.
Hard asserts are good. You can always end a rental agreement.
Well we need to buy some land in splinterland maybe would be a great property in the future.
my friend too said me the other day what happens if internet is cut off in our country, your criptos do not help for nothing.
i said him well i could move to other place with internet but maybe in war all internet do not exist and in this scenario as you said, you need the know how about the foraging for survived, in the adversity,
be prepared my friend for the rainy days do not forget.
best regard.
most people would literally die without the internet - it would be chaos and supply chains will not be manageable at the scale needed. Places like here where there are 6 months of winter, just don't have enough resources to survive it.
And, that is why I plunged into the debt of a lifetime and bought a house :) Owning a property was the one thing that I was not sure about. I did it because of my wife who thinks it is the one absolute action we need to take as soon as possible. We own a property with a significant mortgage and I do not have liquid to own anything else. Baby steps and relying on other revenue streams. Hope the liquid money comes more to us and I will be able to diversify my portfolio.
Playing splinterlands and earning DEC is a way to for a while :)
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Congrats on the house - and my condolences on the house!
It is nice to own but also stressful with a mortgage :)
Have you been able to win some games??
Don't scare me. I am almost drowned on debt :)
Thanks for the cards. I managed to broke through Bronze II. The next level is Bronze I. I now realized that my strategies were sound but I did not have right cards. Every game is giving me ideas. I replay the battles and try to learn what worked and what did not work. It is fun.
Tell me one thing, do you have a set of cards in your head that you always use against a specific opponent. I tend to select the same summoner and try to follow the same card pattern everytime I play. I know it is not right but is easy. I need to figure out how to crack into the silver league.
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I don't know how to set up for a bronze deck, but if you want to try something next season, just ask and I will delegate for a bit. You can have those one for next season too :)
I don't hold enough information in my head for this, but I am getting better at guessing what some are going to play. At the top of Diamond and in champion, I might meet the same persona few times in a day - but the ruleset changes.
Pay attention to your losses - that will tell you a lot :)
I am learning and reading every post that talks about my league. I now understand that even the positioning of certain monsters will help you win battles. Like, combining skills and abilities, combining powers and adjusting them well. I need to better understand how to use different summoners and monsters. I am relying on three sets of cards that I managed to design. If the rule changes I am in trouble.
Thank you for the cards, again. I am relying on "thorn" ability a lot with Mycelia(?) summoner.
I own my bitcoin, that's for sure! If "the internet" goes down I feel a lot safer that my Bitcoin is in my hardware wallet than anything else. Centralized crooks would take it as an excuse to say "oops my DB crashed and can't recover!!!" boom all your crypto gone, except it stays in their wallets.
I'm really hoping to get our hands on a damn real house and some land! Even if it's not a whole lot of land, it's still better than nothing and something to call our own. Condo living is acceptable but the endless fees ontop of other things are ridiculous. It's definitely a good thing to hedge on, owning property. Let's hope that the investment firms don't continue to endlessly buy up every single piece of real estate, though I know that's their end goal so that people can't buy, only rent.
Own nothing and be happy, eh!
Yep. I have too much on exchange again... time to take some off.
pressed enter too soon...
It doesn't take much to have a castle tbh - but in Finland I have learned that I need less than I thought I did it in Australia :)
We have both relations with Russia and Ukranie. Stock market fell %2.20 today. I can't imagine what will happen in case of a war.
How much? This year it was increased between %52-%120 depending on the KWH consumption. I don't even mention the increases in the previous years.
Imagine, your electric bill is much more than your house rent.
I don't know what it has increased across all areas, but it has been "significant" considering that we aren't in hyperinflation :)
Yeah, this is crazy. We are not there yet, but we use a lot of electricity - even with a fireplace -20 is very cold.
Right, I would not want to live in a country where there is longtime cold.
Very good perspective on ownership and "things" or assets. It's for sure wild times out there but looking back it always seems like the world is wilding out in some way. What's key is building your own assets and living that good life while helping others after you take care of yourself first. The more we do that the more power is going to be restored back to people in general and crypto really is a great way to move that front.
Buying things when is low can get you out of poverty, when that particular thing bull. That's the spirit of Crypto currency.
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One thing about this is, Crypto currency will continue to move
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Lucky for us, the guys from Davos Economic Forum got our backs 😁
https://cyberpolygon.com/
They're already preparing themselves for an eventual hacking gone wrong, that would permanently shut down the grid.
I need some portable solar panels hahaha.