It all really confuses the heck out of me.
What is there to be confused about? Bitcoin - a peer to peer distributed but not decentralized corporation coin.We aren't gonna defeat the Yids with this shit. #InPhysicalSilverWeTrust Talk to the hand . . .  |
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It all really confuses the heck out of me.
What is there to be confused about? Bitcoin - a peer to peer distributed but not decentralized corporation coin.We aren't gonna defeat the Yids with this shit. #InPhysicalSilverWeTrust |
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- lots of John Nash quotes -
People who are unable to do anything but parrot an "authority figure" are the ones who have no understanding of economics. Do you think anyone would care about what Nash said if he just parroted someone else? It's not possible for any craptocurrency to defeat metals as the base of Exter's pyramid (lowest settlement layer) because bitcoin has built-in rent seeking middlemen and counter party risk. You could even claim that since bitcoin requires a constant net energy/resource input >0 to appease these middlemen and not implode, that it's technically a debt based currency in practice. It's just not lended into existence like a traditional one. A typical debt based currency has a constant resource drain where the whole of society has to pay the interest rate (which is always higher than the principal and requires infinite growth) or the system dies. In bitcoin, the miners just take the place of the bankers who the interest rate has to be paid to...or the system dies. PoW is also designed to centralize, so you end up with the exact same type of central bank bank model bitcoin claims to be there to defeat. There is really no reason whatsoever to use bitcoin over gold and silver. Metals actually remove counter party risk, don't have rent seeking middlemen, scale, and have no pseudo debt based element to them. |
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Something between a few months to 24 months is probably pretty accurate. All I know is, unless they manage to kill everyone on the planet with nukes, the Yids aren't going to be able to contain silver and it's going to make me a lot of money.
Thankyou for pinning it down, and your explanation. I'm counting down till July 2019  You should really lay-ff the anti-semitic stuff, I understand it's probably a strongly held belief of yours, but for most people at the very minimum it irritates and therefore clouds your argument. Why? Be the change you want to see in the world. In the words of right wing death squad leader Duterte:  |
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There is no fucking scenario on this planet in which metals don't skyrocket because they are the Schelling point when debt based currencies blow up. You can live in some alternate dimension pontificating on some random bullshit Nick Szabo said, but none of that changes this objective reality that will occur. Stocks are also garbage in this paradigm because they're mostly based around infinite consumer growth as well, but the govt may or may not manipulate that market to whatever number they choose before it all blows up.
Point is, i've been waiting for fiat to blow since people starting saying this on the internet about 15 years ago. It's coming.... It's coming.... but it hasn't come yet. If it doesn't come in my life time, frankly I couldn't give a shit, and my kids can deal with it So, Roach if you are so sure its going to happen, please give me some numbers, how likely a 'currency blow up' is, in 1, 2, 5, 10, 20 years. Put your money where your mouth, and make it quantifiable, or are you content with it's coming, but have no idea when? I typed it up into a full r0ach report: https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-21-so-you-want-to-know-how-long-until-the-system-blows-up |
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In the land of the market fundamentals blind, the r0ach with 4000 eyes is king.
R0ach.. u'r like that old man before being kicked out of his home by his kids. He gets desperate and aggressive at the very end when he comes to the realization what is actually happening to him.  |
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quote]ya im sure he's confused. nonetheless your argument can't be it worked in the past so it will work in the future.
like its not my fault so many of the people that have been arguing you don't know what they are talking about.
As for economics, you are the (anonymint's favorite word) myopic user of the century. Debt based currencies require infinite growth to not collapse because the interest due is always higher than the principal. Since demographics have peaked in every nation that matters and energy output has also peaked while EROI is simultaneously collapsing, this means growth is over and all debt based currency is doomed to implode. The system will be forced to move to a non-debt based currency whether it's issuing debt free paper like the greenback or changing back to metals. Regardless of what happens, the dollar dies and metals skyrocket in the process. There is no fucking scenario on this planet in which metals don't skyrocket because they are the Schelling point when debt based currencies blow up. You can live in some alternate dimension pontificating on some random bullshit Nick Szabo said, but none of that changes this objective reality that will occur. Stocks are also garbage in this paradigm because they're mostly based around infinite consumer growth as well, but the govt may or may not manipulate that market to whatever number they choose before it all blows up. There is no black or white. There is no ideal. Not in real world. Its only in our mind and the only way to try to understand a bit of this. Einstein, Nash tried it. The model is not a reality... But nice discussion  Its so human In the land of the market fundamentals blind, the r0ach with 4000 eyes is king. |
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What's the current odds on the China goes full retard play? Then after everyone is penniless Jihan Wu says, "It was worth it just to troll Luke Jr". Or China can go full retard, perform the "anyone can spend" attack by going from legacy bitcoin to segwit, fork back to legacy bitcoin, spend all segwit transactions, and since their BCC chain wouldn't be affected, legacy BTC is now crippled while they pump their BCC coin.
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quote]ya im sure he's confused. nonetheless your argument can't be it worked in the past so it will work in the future.
like its not my fault so many of the people that have been arguing you don't know what they are talking about.
As for economics, you are the (anonymint's favorite word) myopic user of the century. Debt based currencies require infinite growth to not collapse because the interest due is always higher than the principal. Since demographics have peaked in every nation that matters and energy output has also peaked while EROI is simultaneously collapsing, this means growth is over and all debt based currency is doomed to implode. The system will be forced to move to a non-debt based currency whether it's issuing debt free paper like the greenback or changing back to metals. Regardless of what happens, the dollar dies and metals skyrocket in the process. There is no fucking scenario on this planet in which metals don't skyrocket because they are the Schelling point when debt based currencies blow up. You can live in some alternate dimension pontificating on some random bullshit Nick Szabo said, but none of that changes this objective reality that will occur. Stocks are also garbage in this paradigm because they're mostly based around infinite consumer growth as well, but the govt may or may not manipulate that market to whatever number they choose before it all blows up. |
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Jihan Wu dumped 3K bitcoin on bitfiniex in 5 mins. Only 1% damage. He will see what a real dump is on his BCC on 1 Aug As if Jihan Wu is the only dumper in town o_O Much of your points are no sound economic philosophy. You've made your own definitions and created an argument that supports your own view but is contradicted by observable reality. You actually don't know anything about the subjects you are commenting on. Hey man, I'm not the one posting on an alt-troll acct from being scared. If what I said about bitcoin and metals fundamentals wasn't true, someone would actually be able to put up some type of argument against it but nobody can. Instead, I got Sidhujag the guy from India, the world capital of gold, trying to troll the forum saying metals are a barbarous relic LOL. They sell cooked rats on the side of the road in south east asia, don't give me this barbarous relic shit! |
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Jihan Wu dumped 3K bitcoin on bitfiniex in 5 mins. Only 1% damage. He will see what a real dump is on his BCC on 1 Aug As if Jihan Wu is the only dumper in town o_O |
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What is this?
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You aren't here looking for truth at all.
Let me guess, your net "truth" is to try and convince me India has the best schools in the world again. |
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you've touted gold as superior to bitcoin when this is observably untrue as we can see with the charts.
You can stop shilling now, Trace Mayer. Bitcoin has not yet pump and dumped higher than the combined gold + silver monetary metals market cap, nor does it have the ability to do so. You already admitted bitcoin is a crap store of value, so if someone believed the market cap of both metals and bitcoin had topped out, they would immediately liquidate bitcoin for metals anyway. Once you accept this obvious conclusion as fact, it's clear that bitcoin is solely a pump and dump in nature, as are most monetary instruments or substitutes that don't make up the base of Exter's pyramid. |
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When you talk about bitcoin and use words like "belief system" it's outrageous.
I guarantee you that the first 10, 100, 1000, even 10,000 humans on this earth had to "believe" that Gold or Silver had some sort of value to begin using it as a form of money, as a barter system. It started with the first 10. Purely. On. 100%. Belief. And. That. Is. All. Buttalik Butterin might be an IPO scammer, but he's not a stupid IPO scammer. There's a reason he said when he first heard of bitcoin he didn't think it would have any value and is still skeptical of the long term viability of any of them. The fact that he's selling you tokens he thinks might be worthless is a whole other story. Anyway, if you look around, you will notice the people who know the most about bitcoin are the most skeptical and wouldn't be surprised if it died, while it's generally people who don't know anything about economics or what a UTXO is either that think it's guaranteed to go to $1 million each. The exception are motivational speakers like Antonopolous who are probably getting paid by god knows who to go out and shill for bitcoin. |
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I have argued bitcoin doesn't fail and so it doesn't suffer a fungibility problem that has any significance.
Again, more leftist-style nonsense where people claim things like sex and race are social constructs or that you can be 1/2 pregnant. It's either fungible or it's not, and it's not actually possible for cryptocurrency to be fungible. Bitcoin has threatened your core beliefs and in regard to fight or flight you have chosen to go on a forum that discusses something you know little about and don't support or believe in to fight and argue against it with no intention to seek truth.
This is something that cult members type. This is why I said I'm probably talking to Trace Mayer. When you talk about bitcoin and use words like "belief system" it's outrageous. Bitcoin is simply a linked list with a get rich quick scheme built on top of it. It's not even a new invention, the linked list has existed a long time. Bitcoin is not a religion, although you seem to think it is; it's just a plain old Rube Goldberg machine, not the second coming of jesus. |
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I typed why bitcoin is not fungible and you avoided that issue like the plague.
In regard to fungibility you have no point to make. You can cry about fungibility all you want but the markets are rallying behind bitcoin and have no problem with the level of fungibility it has. Ok, you've already outed yourself as a fraud now. Anyone can pump and dump anything. Just because someone makes the price of an asset rise does not grant it objective, non-opinion based traits like fungibility. You're now arguing from a leftist viewpoint where they claim things like sex and race are social constructs. No, objective reality exists and cryptocurrency never has and never will be fungible. Somebody get Trace Mayer the fuck outta here, or whoever this wannabe Trace Mayer is. |
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You're just typing opinion based rambling and not dealing with any of the actual required traits of money. I typed why bitcoin is not fungible and you avoided that issue like the plague. You already admitted bitcoin is not a reliable store of value (I would say because it's synthetic price floor is recursive based on it's own demand while metals economics are non-recursive) so we can skip that issue, but all it takes is even failing one aspect like fungibility and bitcoin is not money anyways. Getting tired repeating myself, but it's called cryptocurrency for a reason.
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Is this a joke? None of the crap you say makes any sense then you post this horrific shilling for the central banks statement LOL. The further you abstract money from barter the bigger a scam it is. Using a physical, commodity based currency (noble metals in native coin format - you know, like gold coins, silver coins, copper coins, etc) is about as close as it gets to barter, which is why it's generally the only non-scam monetary system.
Pure barter was PROVED by John Nash to be not optimal for all parties involved. And using a physical, commodity based currency like noble metals is NOT pure barter, thus everything you typed is completely irrelevant! It's the smallest abstraction away from barter needed in order to maintain things like removal of counter party risk, durability, divisibility, fungibility, portability, etc. I don't want to hear you lies about how bitcoin is the 2nd coming of god as money when it's not even fungible. Most of you guys are either delusional or serial liars. No, bitcoin is not fungible even if you tumble it: CT and schnorr sigs will make btc fungible.
Cryptocurrency is NOT fungible. You're trying to make believe that if coins can be tumbled it's somehow fungible but there is more to it than that. If anything about the protocol at all can be altered via a strongman or banana republic voting to take over it's exposed power vacuum it's not fungible. Money = has objective, static traits Currency = random arbitrary bullshit some guy makes up and constantly fiddles with like fiat or bitcoin. If it's possible for your money to "hard fork", or randomly morph from one thing to another, it's not fungible, and hence not money. In that circumstance you are involved in some type of scheme with a schemer ruling over you. It doesn't matter if said forks are orchestrated by a banana republic of miners in a voting process. There is no Nash equilibrium in cryptocurrency, only a power vacuum to be filled by a top down hierarchy or strongman. To escape this master and servant hierarchy you have to use real money that cannot be altered or tampered with by third parties. |
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You don't know that bitcoin's settlement capabilities will shore up the quality of our fiats
Is this a joke? None of the crap you say makes any sense then you post this horrific shilling for the central banks statement LOL. The further you abstract money from barter the bigger a scam it is. Using a physical, commodity based currency (noble metals in native coin format - you know, like gold coins, silver coins, copper coins, etc) is about as close as it gets to barter, which is why it's generally the only non-scam monetary system. I don't want to hear any of your Keynesian garbage where you attempt to obfuscate the monetary system through a Rube Goldberg machine in order to scam people whether it's bitcoin or some other poorly constructed Rube Goldberg likes the ones CBs already use. Occam's Razor wins in the end and shekling scammers can BTFO. |
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