Funds can't make a return when there's so little movement, so of course they'll drop anything that's holding steady. When they dump, the real players scoop up shares on the cheap. These market conditions are slaughtering momentum-chasers. If you're going to use funds as part of your argument, you should remain consistent - they've piled into Apple. You advocate selling Apple and selling gold miners, yet major funds are doing the opposite in each. So which is it - are funds to be followed or not? it really doesn't matter to me who is selling Apple and miners. all that matters to me is that the prices of both are dropping and my shorts are benefitting. |
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Charge!!!!!!!!!!!!!!!!!!!!!!!!!!!  |
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It sure is, time to buy them miners, super cheap atm!!
Are those our dates for when we FTJ after BTC becomes the global reserve currency?
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iz it tim yet?:  |
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and the correlation continues!!
AAPL down, BTC down!!
the divergence begins today! |
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y'all been double topped.
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We're going to fill the Apple gap real fast and then $500 here we come!  |
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Last call for May subscriptions.
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Newsletter #18
The Junction
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i don't think Selgin understands that what makes Bitcoin popular, at least to me, is the open source democratic nature of the algorithm. ppl are essentially voting for the type of money supply being offered to them and the fact that Satoshi has designed a fixed supply system is what makes it popular. the beauty of the system is that anyone is free to fork the chain and introduce any system they want; such as a fixed 2% inflation. this has already been tried and has failed spectacularly.
Selgin advocates writing a computer algorithm and then "throwing away the key". i don't think he understands how biased this approach is. first of all, whoever writes the program will have an incentive to slant the properties of that algorithm towards their own special interests. it would be like how the insurance industry has wrote Obamacare and thus it favors their interests. and their is no such thing as "throwing away the key" in that scenario. the authors will always be tempted to have a backdoor.
as already said, if he believes such an inflationary money supply is needed, and if he feels a derivative of Bitcoin can be used to achieve it, then he should write such an algorithm. i believe it would fail miserably b/c i think the ppl have wised up to how the bankers are debasing our currency.
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The only way to manage a money supply is to not manage it at all - that is, to let the free market manage it via the interactions and choices of everyone.
+1 |
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Update emailed:
I smell blood.
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Update emailed:
The Pain in Spain brings in the Rain.
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