In Wall Street's eyes, bitcoin is just another asset that they can make bubbles upon and earn lots of fiat
Exaclty. It's rather unhealthy for Bitcoin. Is using a black hole to dispose of toxic waste "unhealthy" for the singularity? I think not. My English is not sufficient enough to understand what you tried to tell me. Price manipulations, scams, hacks, heists, dumps are all natural and inevitable for a new currency with a relatively small market cap. Bitcoin is indifferent to these shenanigans. Like a black hole, bitcoin waits with the eternal patience of the cosmos for the fiat train to fly off the rails. All empires crumble in time. All imperial money has a limited lifespan, usually measured in the hundreds of years. |
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For me, it's political developments in Greece. I think the most interesting news for BTC is still waiting in near future eurozone developments.
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Here's a stupid idea to even the game: (toilet-) paper wallets.
For argument's sake we're now in a tie.
Gold (1) - Bitcoin (1)
Quantity of gold on Earth is very limited, while paper wallets can be made with tiny quantities of satoshi dust. Gold (1) - Bitcoin (2) But wait! There are tons of unmined gold waiting in asteroids in our solar system! Gold (2) - Bitcoin (2) BUT WAIT! If we capture and mine the gold in those asteroids, the gold supply will be dramatically inflated, collapsing the value of gold! Gold (0) - Bitcoin (infinity) |
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Never. I will relinquish control over my stash only when we transcend capitalism. This would not be "selling".
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In Wall Street's eyes, bitcoin is just another asset that they can make bubbles upon and earn lots of fiat
Exaclty. It's rather unhealthy for Bitcoin. Is using a black hole to dispose of toxic waste "unhealthy" for the singularity? I think not. |
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I'm an anarchist + capitalist, meaning anarcho-capitalist.
Meaning a clueless suburban American kid who knows jackshit about capitalism or anarchism. |
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The world trembles at the thought of what a Greek default could do to the world economy. So a default by the US cannot be imagined.
As long as the dollar remains the reserve currency of the world, the US has nothing to fear. They can print dollars to repay their loans. The process of a new currency becoming the world's reserve currency will be slow and gradual. Hopefully, politicians in the US will have enough time to correct their mistakes.
They can't print dollars to repay loans, because if they started doing that all foreign holders of us debt would demand repayment within a few months of each other. Domino effect leading to hyperinflation and collapse. That's why the system runs on never ending debt. The debt isn't ever meant to be repayed. It can't be. The financial actors at the highest level all know this. It's only the plebes being duped. It's a big house of cards, and if anyone knocks it over, everybody loses. Except those wise enough to have divested wealth to bitcoin. |
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That is all well known and makes the whole crisis now even more of a joke than it actually appears at first glance. What doesn't make sense to me is why they weren't thrown out of the euro straight away when this was found out?
It doesn't really explain why the Greek tragedy could mean global disaster either? They could be the first domino, but otherwise I doubt they will cause a global disaster.
A panic on the investors side and a weak can cause issues for the other mediterranean EU states (financially not much better than Greece) what can trigger similar social upheavals like in Greece, and neither the Italian not the Spanish economies are something what the rest of the EU can manage without suffering a similar meltdown like in 2007-2008. If the EU goes into depression that will have a negative effect on the Chinese and Indian and only God knows on what other economies as well and then nobody will buy US treasury bonds... So everybody going to be in deep shit. Agreed, there is no economy strong enough to rescue several others. The century old global fiat bubble is eventually going to explode, but... Somehow the complete meltdown keeps getting delayed: How much longer can the party last? Five years on the outside, but the economic meltdown will be slow and painful. Capitalist elite parasites will use every trick in the book to prevent their system from failing, and they've been doing this for a long time, they're good at it. |
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Solvency matters less than you might think when you command the only super military on the planet.
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Wall Street asking if Bitcoin matters is tantamount to passengers on a ship asking if an oncoming tsunami matters.
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The blockchain will treat any harmful regulation as damage to the system, and will route around it as indifferently as a river routes around a boulder.
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The fact that so many 'muricans actually believe capitalism will last "forever" speaks to both our historical amnesia as a nation and a shocking lack of critical thinking skills. I blame religion. |
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US American police is a bigger threat to population than terrorism, no wounder people are starting to retaliate.
If we're going to have any meaningful definition of the word "terrorism", US police must qualify as terrorists. Many citizens live in fear of the police, and the US has a higher percentage of citizens locked away in the rape dungeons than any empire in the history of the world. When you've got officers being ordered to "turn this neighborhood into a ghost town" and told to "arrest anyone standing around" in poor black neighborhoods, it's hard to deny. http://www.villagevoice.com/specialReports/the-nypd-tapes-the-village-voices-series-on-adrian-schoolcraft-by-graham-rayman-4393217/ |
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what's you opinion on those people getting out of westpoint? Not a monolith, some officers more respectable than others. Obedience (military and otherwise) is a problem humanity must solve before we take our next step in the evolution of civilization. |
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He is saying that if he gains control of the executive branch, he will use his authority as commander in chief to overcome the separation of powers and force the legislative branch to do his bidding, instead of allowing it to act as an independent branch of the government." Graham as president? I'll take things that will never happen for 500 Satoshi, Alex. |
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Bitcoin has no competitors. Bitoin's edge is an event horizon. All non-blockchain financial matter is waiting to be sucked past it and consumed.
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The issue is that while theoretically this would work, in reality it wouldn't. People would speculate. They would dump. They would manipulate to boost their values, then drop them back down to re-buy (like we already see).
Bitcoin is likely not to become a true currency. Think of it as being more like gold, an investment vehicle. Does it have value? Yes. But you won't take gold to the store to buy things. Many companies are already allowing you to do precisely that. You'll convert to cash first. Same with Bitcoin. It's simply not feasible for me to stand at a gas pump for over an hour waiting on confirmations.
Fiat isn't going to exist for very long after the bitcoin moment. Even before that, you don't need to and won't convert. For transactions valued less than $100, zero confirmations is fine as long as you show that you've sent the transaction. For amounts up to $500, 1 confirmation is fine. Up to $2000, 2 confirmations. Up to 10,000, 3 confirmations. You get the idea. If a business really doesn't trust you, they can get a digital copy of your ID or similar in case anything goes wrong. |
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As wealth inequality worsens, jobs continue getting outsourced, and poverty continues concentrating in already poor minority communities, america will continue to see horrifying escalations of violence, especially in places where there is the added issue of racism and race-based authority institutions such as the almost entirely white police force of Ferguson. We are in a slowly heating pot of water here.
Things will get worse before they get better, and we've got a front row seat. Hold onto your butts, this shits gonna get ugly.
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Write a poem.
Use the poem to create a brainwallet.
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