Bitcoin Forum

I really had to laugh as I read this article in Yahoo finance (Reuters).
http://finance.yahoo.com/news/futures-flat-selloff-ahead-data-111021850.html (http://finance.yahoo.com/news/futures-flat-selloff-ahead-data-111021850.html)
Quote: "Stocks bounced back on Thursday from declines in the prior session as weaker-than-expected economic data kept afloat the belief stimulus measures by central banks will likely continue."

This article actually says that central banks have sickened our financial system so much that stocks will rise as economic data gets bad while stocks will fall as economy gets better.
I guess the system will totally collapse within the next 2 years. Any bets are welcome.

Greets

Typical sick patens with sever dementia can live between 10 - 30 years.

As it is not easy to kill a typical patent (the global economy) when they have lots of nurses (economists) tending to every need, you will need to administer a Poison.

The "Rat Poison" Bitcoin if taken in the correct dose can be fatal to economies with sever dementia. However if a fatal dose is administered, its taste will be detected and the poison dealt with by the nurse's aide (the policy maker).    

For best results administer undetectable amounts Bitcoin, and wait for your inheritance.  Given the patent history, I'll give a total system collapse about 10 years provided a seedy dose of Bitcoin is ingested.  

Should all the nurses agree to take an early holiday and stop caring for the terminal patent, I'd agree with your 2 year prediction, otherwise just hang in there.  

How much do you want , are you able , are you willing to bet on?

It was rather meant as a joke. But ok why not. I offer you 0.1 BTC If the system does not collapse within two years. If it does you pay me 0.1 BTC. But how do we "measure" whether the system has collapsed or not? Majority vote from the forum users comes to my mind.

Yeah too bad 99% of the people here would say the system has already collapsed a few hundred years ago.

This bring up the question....
What did you ment when you said:
"I guess the system will totally collapse within the next 2 years".

Btw.
I still have to get 100 euros from a friend who bet in 2008 the euro won't be around in 5 years. :)

By collapse I mean the system has gone out of control by the FED. This would manifest either in Hyperinflation followed by a currency crisis where the dollar looses virtually all its value or a hyperdeflation where you see massive bankruptcies and the meltdown of our retirement savings (because it is lost). The only thing that would be going up are precious metals and ... of course Bitcoins  ;D

They're pumping up the value of equities using printed money.

Nothing new here!

We're still a ways from that. Japan will blow up before the US does, and most likely Europe.  Like it or not the USD is the prettiest horse in the glue factory or the least syphilitic hooker in the whorehouse for now, take your pick of analogies.

For your bet specifics would be a good idea.  e.g. "US Inflation rate as measured by the CPI being above X% for Y quarters beginning on Z date."    Or "Bankruptcies for individuals/corporations/whatever running at a rate of X% at this <time period>."    :-)

By the way, I agree that QEInfinity is not a good thing and had seen the Reuters article.  My hope is that the system does not collapse but competition from non-inflationary assets/currencies etc puts pressure on the countries of the world to reform their crazy policies before it is too late.  Bitcoin, gold and other pm's are reasonable hedges.  If the policies are not reformed, it won't be pretty, but I do not believe that the power-hungry statists will see the need to reform things in time to avoid a lot of pain.

When the system collapses in two years (lol)  bitcoins will becomes worthless as there will still be nothing to buy with them. In the meantime buy some postage!

Postage? What the hell am I going to do with pos ... Ah I see what you did there :)

you can try http://longbets.org/

No No
I would prefer to bet here in the forum. So is there someone willing to bet?

The banks are the ones benefiting, those too large to fail banks, while for the rest of us, we can only watch and wait for the ultimate collapse.

The banks benefit from the current system only in the short run. When the collapse comes, however, even they will bleed... Well, probably not their current managers, as they will be lying somewhere at the beach watching how the system they screwed up collapses.

Meanwhile, We are better be invested in assets like gold, bitcoins and the real estate we inhabit. That is how I see it. Anybody shares my thoughts?

Greets

i would add to it investing in own water, power and food plants, it will always be handy

This reply deserves an oscar.

The market moving up and down is not always an indicator of economic health. The reasons for the move are what matters.

It seems backwards but it makes sense. Gold and commodities are not great right now, interest rates are almost 0. So stocks are seen as one of few places to put your money in order to get a meaningful return.

Once cheap money disappears and rates go up, then money will flow out of the stock market into other things. The market would then likely go down and the dollar go up.

When or if that happens no one knows for sure.

People have been predicting this for years. TIPS bonds were bid to negative yields back in 2008 for a time - all the "smart money" thought we'd see massive inflation in a short time.

As for a deflationairy "collapse" wiping out retirement savings - retirees would actually do pretty well under a deflationary environment, it's the rest of us that would have big time issues.

Only as long your pension fund is not wiped out. What do you think your pension fund manager does with the money? He invests it in assets like stocks and bonds. In a deflationary collapse those assets go down and if governments become insolvent bonds loose even their entire value. That is why your retirement saving isn't save even in a deflationary environment. It's called counter-party risk.

greets