Financial topics

[Cool Breeze]

I fail to see your point in quoting Martin Armstrong, who I like very much.

Again, do you read anything I ever write? Apparently I'm fine, since I've always stated that BTC is an asset class. It is pristine, not impairable as an asset. No other asset has this feature, none ever created. I've never called BTC a currency.

Again, I believe you are a smart person, but smart people don't read someone else's posts for months and then claim things that they never said. And then post things that suggest another smart person (MA) is talking against said person, yet in reality he is agreeing with him!

This doomsday stuff has fried your noodle.

[Higgenbotham]

A currency has to be LEGAL TENDER as long as we have governments. That means it must be acceptable even by the government for taxes.

** 03-Mar-2021 World View: Fiat currency

In practical terms, it means this: In the midst of a financial crisis,
almost anyone will accept US dollars to provide products or services.
By contrast, almost nobody will accept bitcoin.

The other part of that is the debt. Any debt contract like a mortgage in the US is written to require that it be paid in dollars. Also, there are many debt contracts worldwide that stipulate the same. Within the US, there are the legal tender laws (for all debts, public and private).

[Higgenbotham]

Cryptocurrencies are an ASSET CLASS for trading. Do not marry the trade. Treat them as any stock and you will be fine.

Bitcoin is for trading and that's it. I have traded it on occasion. Bitcoin is dangerous garbage and I would be in it no more than a few minutes. Either it goes up and I take my gain or it goes down and I take my loss.

I traded IBM today. That's garbage too. I basically said so earlier today but the purpose of saying so is to temper my behavior.

[Higgenbotham]

Calling BitCoin a “currency” does not make it one. It is still an asset class and for it to be a currency, it would have to respond OPPOSITE of assets, not trade with them.

For bitcoin to act like a real currency, it would need to be an alternative to stocks, etc. People would sell stocks and hold bitcoin as cash and so on, and the value of bitcoin would go down as stocks go up and vice versa.

[Higgenbotham]

Cryptocurrencies are an ASSET CLASS for trading. Do not marry the trade. Treat them as any stock and you will be fine.

I'll buy Twitter or Bitcoin (both shown on this list - Twitter and Bitcoin were both smashed today, Bitcoin was down 21% when I bought it) or any other stock at the right price given the right conditions, but it's only for a trade.

[Higgenbotham]

I've never called BTC a currency.

And bitcoin is the hardest money of all time.

Even a 3rd grader knows that a trustless payment system, semi anonymous, that has features of the hardest money ever created is not a plant in the ground that decays. So please tell me what a tulip shares with BTC, since I shouldn't have to oppose your ludicrous comment - on its face it is preposterous. Seriously, do you even know the characteristics of money? This is embarrassing.

You are an embarrassment to yourself. You have no idea what money is because if you did you wouldn't be suckered into this crap. Bitcoin is crap or, as Charlie Munger says, rat poison. It's about as hard as Warren Buffet when his viagra prescription ran out. It will go to zero. The CME, the Wall Street money machine, and the billionaire speculators have already targeted bitcoin and they will pulverize you to dust.

Definition of money (Entry 1 of 2)

1: something generally accepted as a medium of exchange, a measure of value, or a means of payment: such as

a: officially coined or stamped metal currency
newly minted money

b: MONEY OF ACCOUNT

c: PAPER MONEY

handed the bank teller a wad of money

https://www.merriam-webster.com/dictionary/money

To call Bitcoin money is probably acceptable to many in the hard money crowd. Certainly, many intelligent observers have referred to gold as "real money" even though it is no longer part of the existing currency system.

[Higgenbotham]

I fail to see your point in quoting Martin Armstrong, who I like very much.

It's to show that Armstrong and I are saying virtually the same things about Bitcoin. When I have some more time, I'll dig up a few more and put them side by side.

This doomsday stuff has fried your noodle.

Oh geez, now you're going to have me quoting Arthur Demarest, William Playfair, and Barbara Tuchman again.

Actually, I've been waiting for a guy like you to pop up here and tell me I'm full of crap (and Aeden's full of crap). It's the strongest indicator I can think of that my predictions will start to track in a serious way. We've seen the canaries in the coal mine and I would say it's time for the really serious manifestations of the coming dark age to present themselves.

There are parts of the world that will remain essentially unchanged. Just be advised that the Sentinelese and Mongolian horsemen, etc., will not accept you or Bitcoin.

[Cool Breeze]

I fail to see your point in quoting Martin Armstrong, who I like very much.

It's to show that Armstrong and I are saying virtually the same things about Bitcoin. When I have some more time, I'll dig up a few more and put them side by side.

You mean I am saying the the same things about BTC and Armstrong doesn't opine on the validity of it as an asset, mostly because he's also an old legacy guy too, albeit a smart one. But you keep omitting how he agrees with me and you even quoted him saying "If you look at it as an asset, you'll be fine."

Bubbles, like the ones you are talking about, don't bounce back. Bitcoin already has. There is a reason why it has and its valuation will continue to rise. So what if the stock market gets extra FED juice? It's because rich people are using the market to counteract the USD foolishness while the common folk suffer.

You guys haven't figure this out yet? Ha, you still think the smartest investors in the world are buying BTC for fun. This is just amazing. Oh yeah, and you think the billionaires don't know if the gov't is going to actually do anything? Ha, of course they aren't, that's why they are piling in. And that's why a snake like Kevin O'Leary admitted he owned BTC from 2017 but never said anything BUT BAD stuff about it ... until now. The whole thing is a charade to keep the common man out of the best, strongest money going.

Currency is for spending. Money is for saving. Bitcoin is the greatest asset for saving the world has ever seen. Period. With it, you can get all the shitty currency you desire. Haha, it's amazing how stubborn you are in admitting something right in front of your face, while spitting into the wind about the coming apocalypse. It might happen, but it doesn't make you look good when you deny reality for some weird doomsday wet dream of yours.

[Higgenbotham]

I fail to see your point in quoting Martin Armstrong, who I like very much.

It's to show that Armstrong and I are saying virtually the same things about Bitcoin. When I have some more time, I'll dig up a few more and put them side by side.

You mean I am saying the the same things about BTC and Armstrong doesn't opine on the validity of it as an asset, mostly because he's also an old legacy guy too, albeit a smart one. But you keep omitting how he agrees with me and you even quoted him saying "If you look at it as an asset, you'll be fine."

Bubbles, like the ones you are talking about, don't bounce back. Bitcoin already has. There is a reason why it has and its valuation will continue to rise. So what if the stock market gets extra FED juice? It's because rich people are using the market to counteract the USD foolishness while the common folk suffer.

You guys haven't figure this out yet? Ha, you still think the smartest investors in the world are buying BTC for fun. This is just amazing. Oh yeah, and you think the billionaires don't know if the gov't is going to actually do anything? Ha, of course they aren't, that's why they are piling in. And that's why a snake like Kevin O'Leary admitted he owned BTC from 2017 but never said anything BUT BAD stuff about it ... until now. The whole thing is a charade to keep the common man out of the best, strongest money going.

Currency is for spending. Money is for saving. Bitcoin is the greatest asset for saving the world has ever seen. Period. With it, you can get all the shitty currency you desire. Haha, it's amazing how stubborn you are in admitting something right in front of your face, while spitting into the wind about the coming apocalypse. It might happen, but it doesn't make you look good when you deny reality for some weird doomsday wet dream of yours.

If you're saying the same things Armstrong is saying about Bitcoin, then you're saying the same things I've been saying. What I've been saying about Bitcoin is almost word for word what Armstrong has said, as irrevocably demonstrated. The only that's different is he says it will have some value after the collapse because it's an asset. Maybe it will be worth a bushel of wheat, but that's not important.

Guys like you always pop up at the top of asset bubbles. There are a flurry of posts at the top of the bubble, indignant justifications, wild price predictions, then it bursts and everything goes quiet. That's what we had at the top of the silver bubble in 2011 and that's what we have here. Then after the bubble pops, all is forgotten except the losses. There wasn't a peep here at Bitcoin $3,000 just a short time ago.

[Higgenbotham]

Bitcoin is the greatest asset for saving the world has ever seen. Period. With it, you can get all the shitty currency you desire.

Where does Armstrong say that?