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10441  Economy / Economics / Re: Big Crash coming on: November 10, 2016, 05:35:57 AM
Not really. If Trump wants to realize his promises, he needs a huge amount of money and a weak currency, which suggests that the US-Dollar will be artificially weakened longer than many thought. He needs more inflation. For this Bitcoin would not be the right tool economically.

Path of least resistance is the force of nature, the most natural most commonly followed route will be the easiest to take.  By easy I dont mean most profitable or best economy, its not going to be that simple but its obvious that whoever the candidate we are looking at very weak currency for decades to come.  
The only alternate to weak FIAT is that they default on obligations made, its possible and that really would be more then just mouthing the words revolution.  That'd change everything, even then a proper standard like Bitcoin is likely to benefit from the upset and disorder.

The big crash is most likely in currency which means stocks go up especially those internationally based in their earnings as comparatively that foreign income increasingly looks good in dollars
10442  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: November 10, 2016, 05:16:03 AM
Once it goes to POS, similar with other miners, we will move on to another profitable coin and then it will slowly die.
Are miners using graphic cards still, both AMD and Nvidia.  Ethereum is so big now I thought it was onto ASIC
10443  Economy / Micro Earnings / Re: Post the song Babel Game on your Social Media for BTC! on: November 08, 2016, 04:57:26 PM
my tweet: https://twitter.com/SabreToothTiggr/status/796033517146828801
my btc address: 1MQAjDc95q651BZUHky6w4zyAkNCDyon1d
10444  Economy / Economics / Re: Why You Should Never Sell Your Bitcoins Ever on: November 08, 2016, 04:29:41 AM
People lack imagination, they cant comprehend the idea of not converting everything valuable back to government tax tokens because thats what they've done in the past thats how they inevitably see the future forever.   Even if people mouth the words, bitcoin will grow in influence almost certainly as dollar encounters ever more troubles from its giant debt load they still default to think well I'll be rich if I have dollars one day.

One day dollars wont do anything, it'll be like Rubles and by that I mean the 1997 Ruble.  The old ruble they exchanged to a new Ruble at 10,000 to 1.   They can always reset it but whats really wanted is the goods, I 'd skip the dollar part and buy the house in bitcoin like reverse of that one guy.
   At some point bitcoin will be more stable then dollar, hopefully more accepted.  If its ever going to really grow in value it needs that overall acceptance and use, thats why I keep saying its got to be usable by anyone.   No accidents when drunk leading to everything gone, that standard cant be trusted so it wont ever go mainstream.  If not mainstream, it'll never really hit a big value and stay there most likely it'll decline in favor of a simple standard that hits the widest common denominator.
10445  Economy / Economics / Re: What is your best investment strategy? on: November 08, 2016, 02:00:00 AM
Gold or bitcoin can also be businesses as well.  I used to have royalty shares for cryptsy, that made a profit until it totally failed :O      Just holding a raw commodity doesnt count as investment, I agree and currency is not investment either.   Stock in any business is investment though even if they sell candy floss Tongue

Holding dollars isnt investment, it isnt even saving and its just a portion of debt and future taxes which government manages.   You can hope they dont mess it up and we all speculate dollars will be wanted in the future by those who pay tax but it might just end up worth zero (they have made too many).   Gold at least is a raw metal and usable no matter what, hard to destroy.  Its genuinely money and always exchangable, dollars are only genuinely cotton based ink art if it comes down to it.  
10446  Economy / Economics / Re: What is your best investment strategy? on: November 08, 2016, 01:43:28 AM
Property to reduce costs of rental living is good investment.
Gold as it is global currency but not an investment risk
Stocks to own productive enterprise especially business in a sector you know is doing well and likely to be part of your future costs
Life insurance cover for future savings cover and for absolute loss
Bitcoin speculative global currency, small tech investment
Unit trusts, lower risk then singular stocks
10447  Economy / Economics / Re: Big Crash coming on: November 06, 2016, 06:54:51 AM
Big crash in prices is very different to civil wars and all the other negatives.   A price crash for some people is a positive, when dollar or a currency goes down in value it helps exporters in that country often.  Egypt just free floated their currency, I read it was a demand by IMF or similar to help free trade.  So price crash in that money maybe but it should adjust eventually, I hope its a positive in the end

The house price crash might have been bad for banks but it was a positive for those saving to buy a house.   What people see as negative in a market is often a biased view, theres not much reason for a price crash to force wars and major disruption.   The reason a market crash is seen so badly is when it becomes disruptive to trade and continues for far longer then it should, we are living in something of that now.  From 2009 market low we have recovered in price but not cleared many piles of debt, this is largely due to government actions to subsidise and avoid loss but it has sustained the negative.   I assume similar happened in 1929 and how it dragged afterwards.

If the prediction is we repeat previous major negative crashes, its really about the politics trying to force their point of view through.   Two trading nations doing honest business are unlikely to choose war, its only when trade is prevented and negoiation is not possible you have these greater factors possible.  The crash alone is not going to cause this
10448  Economy / Economics / Re: Bitcoin or gold? on: November 06, 2016, 06:08:42 AM
When receiving gold you have received gold, sure you now have that metal.   It also requires you to physically handle that transaction and provide security, possibly postage costs and all sorts of drags to slow the transfer.
When receiving bitcoin you also have immediately received the coin as payment.   People arent going to really get the distinction there you are trying to make.   As far as payment goes, I have the coins and now I can go use them to buy pizza.  If I has pizza I own the world, what more is there.   The gold if anything is more of a problem for me at that point, I have a harder time immediately transacting it and I doubt I will have my pizza on my way to my house in 5 minutes

If you are spending money fast, get bitcoin.  If you are worried about savings security and want it in your hand and your transaction is way longer term consider gold.   They are really not that close, both are inverse to dollar I guess though
10449  Economy / Economics / Re: Is it better to save money or invest it? on: November 06, 2016, 06:03:18 AM
Nothing wrong with choosing a good manager though I think most people prefer to just use trackers as the fees are so low.

The government hasnt really given any option to save currency normally, interest rates are below inflation which is why bitcoin and almost every other avenue is doing so well.   There is a very strange dynamic going on there which has not been true any other time in history, I think we will see big things happen eventually and saving will return but until then...
10450  Economy / Speculation / Re: I'm dumping my bitcoins so you should on: November 05, 2016, 01:58:44 PM
China will regulate bitcoin because they have a fixed exchange rate and countries that do so will restrict capital flow outside government money.    Its only partially a capitalist country not really close to a full one, however the same can be said of most west countries which fix interest rates and do QE

Longer term bitcoin should also be useful in China, the government cannot determine the free nature of economy and that is a communist fallacy
10451  Economy / Economics / Re: Bitcoin is Becoming a Global Currency on: November 02, 2016, 02:33:46 AM
Bitcoin will be a Global Currency if all countries are properly connected online or through internet. Sadly there are still countries where internet is still not available and if it's available signal is bad or expensive to get a signal. We all know that we cant transact using Bitcoin with out using internet.

I thought it was possible to exchange some value of bitcoin offline, it just involves more trust perhaps as the receiver of the coin is not able to immediately use the coin or transfer it to another address ?     Arent there some special physical coins out there with an address on the middle and the idea is you have your own offline wallet kind of value holding

I'll find the picture, just seems arguable that even a countryside with no electricity could still maybe have a use for cyptocurrency.    People trust dollars when they are in the desert right but for all they know that government backing the paper went broke or the paper is not correct in some way ?    People take cheques and so on, I just assume that bitcoin can also be used in some part similarly


https://i.imgur.com/xV7741U.jpg
10452  Economy / Economics / Re: Is gold better than Bitcoin? on: November 02, 2016, 02:20:46 AM
and for investing in gold we also need a large amount of money which is not affordable for every person so a person with lower amount of money cannot start trading in gold and investment in bitcoin is not a problem for those who will not have large amount of money.

No this is perception not the actual limitation to gold.    First gold doesnt have to be mixed at 24 carat purity to be held as an asset, for purely trading then it does make it easier I suppose.  However if we are talking minute amounts then holding a great big bar is not feasible nor required.  
Purely common currency and gold money for many centuries now is the world longest standing national currency and that is Sterling soverign coins.  Thats 22 carat gold and actually its a small coin not 1 ounce, its not cheap but its definetly not past the ordinary person to have a sovereign coin in their assets.    This an extremely tradable piece of gold, probably in any jewelary store on any high street of the world you can walk in and use this coin for money so I dont see gold excludes anyone really.

Also its possible to hold digital gold standards, if you dont mind not having the physical.   I know if I want I can buy about 120 dollars of gold fund mining companies with assets in the billions, my share is only 100 dollars or so but Im linked into a massive economy.    All of these options mean gold is possible to have for normal people, gold is not elite
10453  Alternate cryptocurrencies / Altcoin Discussion / Re: Which incoming ICO to invest our BTC into? on: November 02, 2016, 01:34:05 AM
Quote
You might want to bottom fish on LTC for money you don't need to touch for a year.

From a trading point of view that seems reasonable, I mean I dont know why litecoin was so popular but I guess it could be again alongside bitcoin just like the old days.   That prospect seems cheap and increasingly so as bitcoin rises, but Im not confident on just where each coin sits now though and why its user base is there
10454  Economy / Economics / Re: If bitcoin price is $10.000, will fiat be worthless? on: November 01, 2016, 03:27:02 AM
Quote
if there is no fiat bitcoin is worthless.. because bitcoin has value because of fiat

Thats what a government might like you to think.   Fiat money can be used to pay taxes, its primary purpose.    Bitcoin has value despite no exchange to taxes with any government, it is a far lower cost globally transmittable secure system.

In the end bitcoin might even be more secure then fiat money, physical or digital because its secured by users not a central body.   Bitcoin has value as token through its use, secure and ease of use.    If USA goes broke, bitcoin is still usable and will have value anyway, its not depending on one country to exist and its not relying on a bank to stay solvent
10455  Economy / Economics / Re: Martin Armstrong Discussion on: October 31, 2016, 09:14:15 PM
Quote
silver coins would only be used in a catastrophic SHTF


Silver coins can be melted down and used for industry so we can be sure they'll always be used, its just at what price are they useful.   Some have called for them to rise to the same value society placed on them in roman times.   Back then they were unique and useful but I dont see that happening now    Gold coins have less uses especially the pure gold sold now, it wears too much to be circulated really.   Both are symbolic value, I doubt anyone literally would want to use it as a coin.  They might have to but lets not assume thats going to be normal.  
The actual usable coin is bitcoin or something that at the extreme could also be considered worthless as it has no industrial use but its far easier to exchange then an actual coin.   I agree coins wont be used unless society can no longer communicate digitally as it can now, in some parts of the world coins are useful still so its relative to where the majority of commerce is taking place.  
So many parts of the world are holding US dollar notes, so what happens when they are not used.   Can we assume they use silver coins, I think they will advance past that.   Capital will held centrally as solid value perhaps instead of debt and political taxes as now, but distribution wont be in a population with metals for decades only shortly in transition maybe

I think we'll see such a large scale change we cant imagine how it will take place, if the western economies lose their reserve currency status then its hard to predict as it relies on where that business goes.  This isnt that strange an idea, a century ago it was the British empire the largest empire ever to have existed and it was the reserve currency and today they are just another country not especially on reserve.   It seems likely USA also goes through that process, nothing apocalyptic really just change.  I assume that wherever business is done, it will acquire rapid communication just like the west has now and coins wont be swapped as its just not as efficient for transactions.

Also worth saying I dont think silver coin will lose value, its not going to become less used.  Same for gold, its held by central banks now and I think that trends increasing but not for circulation really
10456  Economy / Economics / Re: If bitcoin price is $10.000, will fiat be worthless? on: October 31, 2016, 05:45:21 AM
Not really the case, anywhere mastercard can be used is where bitcoin is possible to pay a bill with.   You cannot directly transact in bitcoin but then its not that unusual to be using a payment service, I can travel to another country and pay with my national currency and the mastercard will change the currency for me so really you can use bitcoin in that same way and its here today

 
Quote
will the current government systems remain in power or are we in for a disrupting change?
Well... probably the former.
democratic government changes all the time, the biggest failings are within that system still
10457  Economy / Services / Re: NEW BitDouble.io Twitter Campaign on: October 31, 2016, 03:30:50 AM
Follow BitDouble.io - DONE
Post twitter account link - https://twitter.com/SabreToothTiggr
Post audit link - 88%  https://www.twitteraudit.com/SabreToothTiggr
Post # of your followers  : 262
Post btc address : 1MQAjDc95q651BZUHky6w4zyAkNCDyon1d


I wait for next week I guess to see if I make the list ?
10458  Economy / Economics / Re: Inflation and Deflation of Price and Money Supply on: October 29, 2016, 12:21:44 AM
His definition stated there is the original dictionary entry for inflation from a hundred years ago.    This idea was blown away around the time of the creation of the Federal reserve.
I agree it is the most correct and accurate way to track inflation, the total money available to an economy.   If really there is no way to measure money then we are truly lost because prices only measures high street trend after the fact, its not really a predictive indicator of anything.  Money slips from one asset class to another and inflation goes untracked, when dollars are used all over the world they are following nothing nationally in a useful way

Quote
And I've always been saying that adding a grace period within which the payment can be reversed is a necessity if Bitcoin aims at going mainstream
That would have to be a service extended by the credit card company ontop of the bitcoin standard.   I mean I can withdraw an email Ive sent with some services, but its not really part of the core protocol as I understand it but in some systems this is feasible.

I agree generally bitcoin as a service has to be more usable but its probably the companies on top that must do that
10459  Economy / Economics / Re: If bitcoin price is $10.000, will fiat be worthless? on: October 29, 2016, 12:06:52 AM
They will be used more than bitcoins because most of the users in bitcoin community are earning bitcoins so that they can exchange them into fiat and then use them as bitcoin is not accepted anywhere

Not sure I agree exactly.   If bitcoin rises in value and dollars fall consistently as they have done, this kinda indicates to me that bitcoin will have won alot more faith from many as a holding and general use if only because its retained its value for people who wanted to earn and not lose money to inflation.   

Fiat will not be worthless, it will just be devalued thats all and you can see this happening in real time now in Venezuela.   The government just gave in and issued a new higher value note, the previous high value was for about 20 cents I believe.   Now the highest value note of national currency is about $10
So they are still using fiat even though it must have got to ridiculous levels with that system.   Wheelbarrows of cash to pay for your weekly food shop.    Buying higher value items even now must also be silly, in such situations you got to bet an alternative as smart and neat like bitcoin would be greatly elevated in popularity.

I dont know how digital their currency is but with dollars alot of the movement is done via balance sheets even by the common people.   So its never worthless exactly just unwanted and troublesome to hold onto, I hope people will find bitcoin easy and reliable increasingly but there are problems still to iron out
10460  Economy / Gambling discussion / Re: What is your reason to gamble? Fun or profit? on: October 28, 2016, 11:57:29 PM
I want to bet for the fun of knowing I judged the teams correctly but shouldnt that also mean Iam making a profit.  So unfortunately these two go together, Im not a massive gambler so I guess I'll side with fun but really I might quit if I just lost as wheres the fun in that !  Embarrassed
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