Financial topics

[richard5za]

There is a reason those of us who can't be suckered into the bitcoin bubble are here.

It starts with John. He doesn't drink Kool-Aid. And I've noticed he's not drinking your flavor of Kool-Aid either.

The value of bitcoin is zero. It has no value, period. Richard asked you to state the basis of the value and you were unable to come up with any because it has zero value. It's not even worth a tulip.

Richard obviously is not drinking the Kool-Aid either.

I'm not drinking the Kool-Aid. Doesn't matter what you say. The only thing you've convinced me of is not to trade this crap, not even for 10 minutes.

There's nothing to think about with bitcoin. It's not even worth a fleeting thought. I think about as much about bitcoin as I think about flushing my shit down the toilet.

So you popped up again when the bubble inflated a bit more...yawn.

In 1997 we held a conference in Anguilla called "Financial Cryptography", see http://ifca.ai/fc97/
I was thinking about this kind of thing years before then too, and often since.
The conference came to Anguilla for the first 5 years but then went to other locations.
Cam back for a 10th anniversary and still goes on to this day, with a slight name change.

The value of the Bitcoin system is that it is a non-rigged score keeping system that can not be stopped by any government. This is what the world needs now when all the Fiat money is being printed like crazy. In the US dollar system the US gets to print as many as they want, it is a rigged game. People won't want to play that forever. As the Fiat currencies hyperinflate only Bitcoin will be available as a replacement financial system. The world needs this badly. The US dollar will die. See http://howfiatdies.blogspot.com/

"Wire transfers" were called this because they used the new-fangled telegraph wires. Wire transfers, western union, credit cards, and checks are all primitive technology compared to Bitcoin and in particular Bitcoin/Lightning (Bitcoin version 2.0). Bitcoin is far more secure, far faster, far harder for governments to grab, and far less costly (overhead) to users (in particular Bitcoin/Lightning). For credit card companies to get 3.5% each time money changes hands is just crazy costly compared to what crypto can do. So these old tech things will all be replaced. And the dollar will be replaced.

My Bitcoin.ai Ltd at http://bitcoin.ai has a second Bitcoin ATM on the way.

I will be buying more puts on the S&P this coming week as I do expect a stock market crash to cause Bitcoin to crash too. I think of this as buying insurance to protect my Bitcoin investment. Bitcoin will recover much faster than the stock market. As inflation picks up bonds, land, and stocks will do poorly. All these depend on low interest rates, which can not be counted on if inflation is going up. People will flee them for commodities and Bitcoin.

We live in interesting times. Really.

Vince, I did say I wouldn't post again on BTC but your post changed this. I do want to add and respond:

Digital assets will survive long term and will replace a number of fiat currencies as you say, and possibly for some of the reasons you say, but will be globally regulated in the long term. Global governments will make sure of this.

Before I get to Bitcoin specifically lets talk about the dollar. Yes, you may be right on your forecast of dollar, a massive drop in value. But, when and if the markets seriously crash, and there is massive debt defaults (that crisis is coming for sure) and an economy that has unemploymment like the 30's, we may well be looking at defaltion for a period, rather than inflation, and in which case a strengthening of dollar money. Its too hard to see which way it will go. Perhaps one way and then the other?

Bitcoin may or may not survive, and the problem for the authorities, as you point out, is the lack of regulation. Its the terrorists and criminals darling at present, and every tax authority, and most governments are looking at it with jaundiced eyes, knowing full well that massive taxes are being missed, criminal money laundered, and terror financed. So there's an incentive for governments globally to make sure that Bitcoin is replaced by regulated digital assets, and goodness only knows what that would mean for the value of Bitcoin.

A great deal of high level work is being done (especially in the first world) on how to regulate digital assets. Tax is an early participant in artificial intelligence for this and other reasons. At present there are around 260 exchanges handling digital assets but much slips through and around the net. And its probably easy to bribe exchange reports anyway. Authorities world wide will ensure regulated money.

The Bitcoin bubble is a mystery to me. When it gets to the stage its at now, people are not taking a step back and seeing the bubble insanity. Go to economics 101 and get the definition of money: It must include a store of value. With the changes of Bitcoin value over the last few years its worse than the South Sea Bubble or the Dutch tulips. A gamblers play ground might be a better description. As a store of value Bitcoin clearly cannot be trusted simply based upon recent history. On the other hand the dollar has depreciated massively over the last 100 years but its done it slowly and so on shorter periods of time the dollar can and has been a trusted store, and the loss of value is compensated by interest or dividends.

So what was the driving force behind BTC pushing it into "bubble status"? Was it criminally or terrorist engineered? It would be very logical for them to do this. Maybe they will sell out and leave a "suckers market"? Maybe not? I actually don't know but I see the logic.

There's another issue. Bitcoin's claim to value: All you are buying is an algorithm that they claim cannot be copied (plus you have to trust people that aren't bankers that they are keeping it safe for you !) OK so now we have tax authorities around the world looking for ways to indentify each and every Bitcoin and Bitcoin transactions in such a way as to ensure that tax returns cannot be cheated. Likewise government agencies regarding criminals and terrorists. Much AI is being developed around this in order to regulate these so called assets. Do we really think that codes developed some 12 or more years ago can't be broken and copied with the AI coming through during the 2020's?

So I try to be prudent in my investing and trading. Whilst I may well be invested in digital assets in the future (if I live long enough) I can't see myself buying Bitcoin

[Higgenbotham]

Bitcoin has fundamental design flaws which preclude its use as a currency:

1. It has no exchange rate mechanism to regulate the balance of trade across economic zones.
2. It has no mechanism to maintain a constant value against a basket of goods and services.
3. It has no mechanism to pay its holders for productivity improvements within economic zones.

In addition to that, due to its faulty design and other mistakes that were made, bitcoin has been turned into another speculative asset like tulips. Limiting the supply and mining for additional supply is not the answer. Listing bitcoin on the CME was another fatal mistake.

[aeden]

Mr. Dent thesis in play while thousands of their elderly family members are murdered by one of their cult idols,
they have no reaction, just another blank demonic stare.
Demons, very very sick murderous Demons.
Wake me up when gold hits $1000.00 <------------------
Mr. Dent was just warming up.
Its not hard to find.
Falling like Leaves was not enough for these vile stiff necked Demoncrats.
Nope we never seen it or tracked the rdna.

kill boxes
Suburban Cook County – 506 LTC – 929 Total – 54.5%
City of Chicago – 357 LTC – 1268 Total – 28.2%
Cook County – 863 LTC – 2197 Total – 39.3%
Illinois like New York will have liberals ripping each other apart.
As we seen 20.8 for that early cohort bracket was sixty percent off to the low side.
As we dated it - we killed some folks - The flying monkeys will appear soon on it as the liberal bastions of financial stupidity collapse
like the mental black holes they are.
Yep they will circle back at ya all right.
Fisherman records Antifa with gas can. Yep conspiracy.

They are stuck at step two: culture, strategy, and structure
Millions know they are bat shit crazy.
thread: l8ter

Dunning Kruger never fails.

We trended and seen the marxist human trafficking rat lines shut down.
You seen the actual trafficking maps here. Slaughter and invasion population in destabilization thwarted for now.

[vincecate]

Bitcoin has fundamental design flaws which preclude its use as a currency:

1. It has no exchange rate mechanism to regulate the balance of trade across economic zones.
2. It has no mechanism to maintain a constant value against a basket of goods and services.
3. It has no mechanism to pay its holders for productivity improvements within economic zones.

In addition to that, due to its faulty design and other mistakes that were made, bitcoin has been turned into another speculative asset like tulips. Limiting the supply and mining for additional supply is not the answer. Listing bitcoin on the CME was another fatal mistake.

The US dollar does not have any more of these than Bitcoin and it has the additional problem that the US Government gets to cheat and make as many as they want. Money is really a way of keeping score in the game. Bitcoin is at least fair to all players, nobody gets to just make as many as they want. It is a much better deal for participants than the US dollar (except for US government). With the US now printing trillions per year, why would others keep using their system? It gives an "exorbitant privileged" to the US government and a cost to everyone else. Money printing is a tax on others holding that money. The cost/tax is becoming too much to bear. The time of the dollar is coming to an end. I can't say if it is 3 years or 7 or what, but it will end. My bet on a replacement is Bitcoin. If Bitcoin is replacing the dollar, then it is not a bubble, at least not one that will fully deflate anytime soon.

There is a video saying don't buy Bitcoin, since it is always crashing. Basically it has gone from a few cents to $48,000 and has crashed all along the way. We Bitcoin people find this funny, and true. But if it has gone from a few cents to $48,000, then no matter how many crashes, the real trend is up.
https://www.youtube.com/watch?v=XbZ8zDpX2Mg

[richard5za]

Bitcoin has fundamental design flaws which preclude its use as a currency:

1. It has no exchange rate mechanism to regulate the balance of trade across economic zones.
2. It has no mechanism to maintain a constant value against a basket of goods and services.
3. It has no mechanism to pay its holders for productivity improvements within economic zones.

In addition to that, due to its faulty design and other mistakes that were made, bitcoin has been turned into another speculative asset like tulips. Limiting the supply and mining for additional supply is not the answer. Listing bitcoin on the CME was another fatal mistake.

The US dollar does not have any more of these than Bitcoin and it has the additional problem that the US Government gets to cheat and make as many as they want. Money is really a way of keeping score in the game. Bitcoin is at least fair to all players, nobody gets to just make as many as they want. It is a much better deal for participants than the US dollar (except for US government). With the US now printing trillions per year, why would others keep using their system? It gives an "exorbitant privileged" to the US government as a cost to everyone else. The cost is getting too much to bear. The time of the dollar is coming to an end. Can't say if it is 3 years or 7 or what, but it will end. My bet on a replacement is Bitcoin. If Bitcoin is replacing the dollar, then it is not a bubble.

I think the real question is "will Bitcoin end well" for people who own it.
So in February 5 years ago the price was around $ 375 each, and I have just looked up the price and it says $ 47 729.
What's the reason for this massive appreciation? How is it justified?
The price chart resembles a typical bubble. So if its not a bubble what is it?
If Bitcoin is a bubble then not one bubble that I know of has price corrected, they all crash! So if Bitcoin goes back to $ 375 then what?
If people buy at $ 47 729 today is it remotely possible to be a store of value? Of long term appreciation?
Compare the above to the US dollar over the same period from February 2016

[Higgenbotham]

Bitcoin has fundamental design flaws which preclude its use as a currency:

1. It has no exchange rate mechanism to regulate the balance of trade across economic zones.
2. It has no mechanism to maintain a constant value against a basket of goods and services.
3. It has no mechanism to pay its holders for productivity improvements within economic zones.

In addition to that, due to its faulty design and other mistakes that were made, bitcoin has been turned into another speculative asset like tulips. Limiting the supply and mining for additional supply is not the answer. Listing bitcoin on the CME was another fatal mistake.

The US dollar does not have any more of these than Bitcoin and it has the additional problem that the US Government gets to cheat and make as many as they want. Money is really a way of keeping score in the game. Bitcoin is at least fair to all players, nobody gets to just make as many as they want. It is a much better deal for participants than the US dollar (except for US government). With the US now printing trillions per year, why would others keep using their system? It gives an "exorbitant privileged" to the US government as a cost to everyone else. The cost is getting too much to bear. The time of the dollar is coming to an end. Can't say if it is 3 years or 7 or what, but it will end. My bet on a replacement is Bitcoin. If Bitcoin is replacing the dollar, then it is not a bubble.

The dollar does a better job in some of these areas, but it's not a good enough job to make it worth elaborating on. Both the dollar and bitcoin are terribly flawed. They will both fail, in my opinion. What you seem to be saying is that something will replace the dollar as a world reserve currency. Nothing will replace the dollar. The world will descend into chaos. It won't be like when a country like Germany, Zimbabwe, or Venezuela destroyed their currency and then was able to turn right around and issue another one. Those were local currencies that failed. Now everything is failing. Maybe the currency of the Roman Empire can be looked at as the best example.

[aeden]

They taxed trees. It ended.

And if they can’t find any, they’ll make it up. This will all seem terrifying, but much less so if you realize that you’re just the latest victim in what is basically a mechanical and dehumanizing process. Insofar as you don’t actually get fired from your job or suffer some other equivalent setback, these are all just words, and they don’t define who you are.

Don’t back down. Don’t apologize. Don’t make clarifications, and don’t try to appease the mob. All of these will only be taken as concessions, and embolden the mob to demand more. The real Achilles’s Heel of the cancel crowd is its short attention span. Once they bully someone into submission, they move on to the next victim. It’s a system designed for quick wins. If you don’t back down, they’ll raise the pitch as far as they can—but eventually they’ll be at a loss for what to do next, and all but the most fanatical will lose interest. The few that remain, now bereft of their backup, are just what you need to teach all of them a lesson, as we did in my case.
https://voxday.blogspot.com/
Mock them mercilessly. Fear is what keeps the silent majority from speaking up, and laughter is the best antidote. The cancelers take themselves extremely seriously, imagining themselves to be social-justice angels whose holy ends justify every imaginable means. Their sanctimonious spirit is a gift to you, if you call it out instead of playing along with its conceit.

We are dealing with vile idiots.

Affectionately known by heathens as Piss Christ – The Roman Catholic Corpus is sacrilegiously immersed In A Beaker Of The Artist’s Urine & Mixed With Cow’s Blood And Is Displayed At The New York Museum Of Art Where Obama Sanctioned $155 Million USD, For The Endowment Of The Arts.
https://politicalvelcraft.org/2012/05/2 ... holocaust/

[Higgenbotham]

I kept pace with the market's rise yesterday and that's it. The market might have a chance to turn down today. S&P futures are down about 8 points ahead of the open.

[vincecate]

The dollar does a better job in some of these areas, but it's not a good enough job to make it worth elaborating on. Both the dollar and bitcoin are terribly flawed. They will both fail, in my opinion. What you seem to be saying is that something will replace the dollar as a world reserve currency. Nothing will replace the dollar. The world will descend into chaos. It won't be like when a country like Germany, Zimbabwe, or Venezuela destroyed their currency and then was able to turn right around and issue another one. Those were local currencies that failed. Now everything is failing. Maybe the currency of the Roman Empire can be looked at as the best example.

I have a number of customers in Anguilla that are sending Bitcoin to family in Venezuela. If you have local currency in Venezuela it is very hard to find enough food to buy. If you have Bitcoin in Venezuela there are people that will deliver food to your house. These people selling food are able to use the Bitcoin to buy food ans so restock their business (maybe from another country). The people selling in local currency eventually lost so much they could not restock. It used to be when a country destroyed their currency people would, against the laws of the land, switch to the dollar. Now they are switching to Bitcoin. Countries are not easily able to just turn right around and issue another currency.

Yes, the debasing of the silver coins in the Roman Empire is very much like what the US is doing to the dollar. Yes, it is an indication of the end of the empire.

The US is an interesting empire. They did not impose a normal tax on other countries, like a normal empire. They just got everyone to use the dollar and imposed an inflation tax. This is very clever as most people paying the tax did not even realize they were paying to the empire. But the tax is becoming excessive. When taxes are excessive people change what they do. The dollar/inflation-tax trick will end.

When the US dollar fails then other Fiat money all over will fail. People will realize there is nothing backing the other paper either.

When the dollar has hyperinflation the world will sort of "descend into chaos" but Bitcoin will save the day. People always find a way to conduct business and Bitcoin will work for this. It will be "interesting times" but not the end of the world.

[aeden]

The boomers worked their asses off in manufacturing jobs. Those jobs got shipped over seas.
Trump was bringing those jobs back.
If the millennials don’t like their lot in life they should stop supporting democrat policies.
If they think it’s bad now wait until the climate policies start getting implemented.

The math is this they own 75 percent of the solar infrastructure.
It was democrats that ate the lunch and the chamber of commerce
having rough sex with them as sticky wages.
The yellow buses with illegals workers shipped in from south of border and in our region as picket people got murdered in Iowa.
My first strike I told them two men just got murdered.
A few days before this when we moved on two slugs went through the assembly area for the remainders.
No one cared then and they sure as hell do not today.
They complain and remain on the Johnson plantation model.
As for bitcoin I understand the south of the borders issues as you do also since the arc of instability white paper
issues and we translated survivors messages we noted here also.
Xiden also mentioned infrastructure imbalances as they excoriated a guy who tried to help what's left.
The flyover view is a pile in the in garden helps more come spring than them talking shit as we witnessed blood
plasma lines wrapping around city blocks before. Now they just slaughter for parts.
They voted for stupid since they are. Since the Harry Reid solar farm fiasco these
retards can only mention we will circle back top you. The real science is currently ignored for decades to what's coming
from models to the other planet changes well underway and trended. They are to damn ignorant to plan and yea they are simply village idiots.
I will give then credit on the Yemen statement and none on the border issues for a two state solutions with so called culture.

https://data.bls.gov/timeseries/CES3000000001
We bought enough to to survive is about it. The white papers point simple facts and we will cannot have a discussion on lie cheat and steal
with burn loot and murder halfwits. The nodes will keep you children from being cannibals is the point.

https://www.nist.gov/blogs/manufacturin ... ere-it-not