Thanks for writing what I would have. Correct.

Also gold when it was a legal tender coin currency was always a fiat, because of Gresham's Law and the power inherent with seigniorage.

A strong counter point is that Bitcoin can be sometimes anonymous for the diligent  (i.e. not practical for most people, mostly for criminals), while some governments may view Bitcoin as less of a threat than a more overtly anonymous cryptocurrency.

Unlike using cash, employing anonymity in Bitcoin will very likely become synonymous with being a criminal.

The government could likely remove that impractical, rogue anonymity option in the future by regulating the miners and forcing them to only include transactions that come from an online wallet provider which does KYC. They would be wise not to do this until the masses have become accustomed to thinking of Bitcoin as something in their Paypal or Coinbase account, and those who use non-KYC wallets will have likely become the much smaller minority.

Government can co-exist with anonymity because people willingly give their consent to reveal and participate in an ordered society rather than complete chaos. The distinction is the people are in control and accede their consent. If you take away this balance-of-power (remove all escape routes, black markets, and frontiers), what you end up with is totalitarianism and megadeath (every single damn time, there is nothing ambiguous or dubious).

I believe that black swan is the fact that the economy is shifting from brick & mortar to virtual work and services. Into the dark we go, so that We The People grant our consent to be governed.

I am respectful to those who accord me the same respect. You can review the following threads which immediately preceded this one, to ascertain how I was disrespected which induced me to give a warning this thread about spewing hatred and ignorance (the two seem to go together, and you are an example because your ignorance of what transpired causes you to spew inappropriate hatred).

https://bitcointalk.org/index.php?topic=880088.0

https://bitcointalk.org/index.php?topic=877398.0

The attention deficit disorder problem is why it takes a 100 years for sheeple to wakeup, and then they can be fooled again with a new shell game.

If you don't read the linked articles in the OP, then you don't have a clue what the thread is about.

I don't get anything from clicks on my site (I own coolpage.com and am the author). I don't even track clicks any more. That site is basically dead.

The logic:

https://bitcointalk.org/index.php?topic=884154.msg9753233#msg9753233

Separating reality from hopeful delusion, is crucial for picking what to expend effort and resources on.

Thank for those who have more knowledge about derivatives taking the time to make some explanations. Admittedly my patience was too short to elaborate sufficiently.

It doesn't really matter that some people are ignorant of the utility of derivatives, because they will always gravitate to what is succeeding.

And derivatives boost the ecosystem by orders-of-magnitude, because a large portion of the business world can't participate without them. No hedging, sorry they can't do Bitcoin.

When I argue for stronger, easier anonymity, I am often retorted with the point that Bitcoin will simply move to jurisdictions that favor it.

However this misses the point that a global map of mishmash regulations is antithetical to a widespread fungible currency. Precisely what makes a currency desirable (and thus makes it a currency because everyone accepts it) is its ubiquity.

The takeaway from this is that no crypto-currency can become ubiquitous, because Bitcoin will be mishmash regulated (some jurisdictions better than others) and a strongly anonymous coin wouldn't be accepted by everyone.

And this favors a fiat global currency (or regional currencies) gaining ubiquity. Which is surely what will be the end result.

So if you ask me, I'd rather have a strongly anonymous currency that can support extremely lucrative black markets, versus the above futility of Bitcoin. Come on, the writing is on the wall. Deny it all you want. I don't care. Go ahead now and do your typical damage control.

50,000 BTC profits or operating capital generated from Silk road. There is a lot of black gold in 'dem 'der dark networks hills.

I agree. My posts in this thread are about how to increase interest and capital involved in Bitcoin ecosystem while reducing volatility and supporting a normal rise in the price consumerate with rapidly growing ecosystem and adoption.

Yet the supporters of Bitcoin attack it. Go figure    

Apparently some readers are too stupid (or closed-minded Butthurt) to distinguish an enhancement from a criticism.

Just goes to show you can fool a dog to fight his own tail (and lick his balls and his anus).

See what I mean? You've got sheeple all over the country who don't understand that the same arseholes who gave us a false war on drugs (while the CIA was deep into drug running) are the same ones militarizing our police via the 9/11 false flag and Homelove Sescrewu Department.

Stick a fork in her, the USA is done. All that remains is the ransacking by the barbarians.

In that logic, you haven't created anything either.

I happen to know that Bitcoin is not just a protocol, it is also a community, a market, etc..

I have contributed to both, as well contributed to the technical side of crypto-currency.


I am so tired of dealing with you Butthurt egos who have nothing more productive to do with your time than to make petty attacks on every idea for improving Bitcoin. Go fuck a Kangaroo or something consumerate with your grunt intellect and lack of amicable community spirit. Kangeroos apparently like to fistfight while making or competing for fornication, so you may find it appropriate to your style of community intercourse.

Sorry but your math is incorrect. The price can be infinitely high and if the float is infinitely small, the amount of money to move the market higher is infinitely small.

The amount of money it takes to move the market is related to the float x market price, not price alone. Learn how markets really work.

What you forget is as I had already explained upthread the market cap is not the same as the amount of money invested:


The market cap is based on the last clearing price.

Also it is a not a scaling equation because it doesn't consider externalities. If tomorrow all the world's wealth moved into Bitcoin under the assumption that the price must rise proportionally to the relative wealth invested, this would mean that the majority of the world's population would become destitute given the power law distribution of money. This is simple math.

You simply can't have the Bitcoin asset go to $10 million (under the false conditions of that false assumption stated above) without killing several billion people.

That is why you must have derivatives if you realistically want to scale in the world's wealth.


You don't have a clue what you are talking about.


You believe all the propaganda you've been fed without actually having any knowledge about how things work.

Derivatives don't cause collapse, it is corrupt banks selling derivatives rated AAA that actually contains sub-prime crap in them. It is corruption that causes collapse. It is too much leverage that causes collapse principally.  It is derivatives with leverage where all the risk is held by a too-big-to-fail single entity that causes collapse.

I was advocating derivatives with 100% margin and decentralized presumably owned by a plethora of participants.

Derivatives are absolutely essential and have been used since money was invented.

It can be construed as a death threat. Be careful with your words. They can be construed as a crime.

Nobody forced you to read my words. Elevating that to wishing someone dead is insane.

The country is too far gone. It will fragment. It is more realistic to vote with your feet than stand disunited and get blown to bits by flying debris.

They are members of the Five Eyes along with USA, Canada, and the UK.

New Zealand didn't extradite Kim Dot Com, but Australia threw Assange under the bus. However, Australia is starting to shift back towards conservative as they were the first country to stop paying Al Gore's carbon tax fraud (global warming is fraud and not true).

I'd prefer the warmer climates and climates ranges of Australia, and there is more terrain to disappear into.

It looks like those two countries may be two of the best of the developed countries for weathering the coming global crisis.

Canada is closer and more realistic for many Americans to escape to. I suggest that to most. And get working on it now. Canada recently advised their citizens to be wary of the USA police state when traveling there. Canada is socialist in the cities, but Canada is still significantly a rural country and afaik the government doesn't mess with you as much as the USA does (e.g. the Bundy Ranch issue and the Feds fucking with for example ranchers near the Mexican border).

Reside far from any population center, no matter where you go. Try to be in a community that grows its own food. Giving up most carbohydrates is good for your health, so then you don't need grains except perhaps to feed your chickens if you can't hunt and fish for your meat.

Yup that is the point, you can't know which one of the 4,500 federal crimes (not including 1000s more administrative regulations that are now increasingly punished as crimes by our Kangeroo courts) you committed. The average United States resident commits 3 felonies a day and doesn't even know it. And that includes you, whether you like to admit it to yourself or not.

Any USA citizen that is not already outside of the USA or making plans to get outside before the fucking thing collapses into hell by 2017 or so, is IMHO insane. The police are being trained to be military. Every local police is being armed with military gear and even tank-like vehicles and even hollow point bullets which are illegal in war by Hague convention because they are so gruesome (exit wound is humongous).

And I also hear they are going to cancel all the passports, so getting another citizenship is crucial.

Folks she's fully cooked, stick a fork in the Statue of Liberty. The shit coming is horrific. You got to be crazy to stay inside the USA when this shit hits the fan.

OTOH, it could get quite ugly every where, as the global economy will collapse every where. The plan appears to be to use Russia to squeeze Europe with its military. And China and Japan will fight in order to squeeze Asia. The globalists have their New World Order planned out.

And given the NDAA law, the USA can go after any person any where without any due process and according to Senator Lindsey Graham "shut you up without a lawyer".

Everyone commits 3 felonies per day. We will be sure to say the same about you when the global police state comes after you as the global economy heads into the abyss 2016 to 2024.


    First they came for the Socialists, and I did not speak out—
    Because I was not a Socialist.

    Then they came for the Trade Unionists, and I did not speak out—
    Because I was not a Trade Unionist.

    Then they came for the Jews, and I did not speak out—
    Because I was not a Jew.

    Then they came for me—and there was no one left to speak for me.

My idea on how to do the programmable block chain.

That is my first death threat on this forum. I must be doing something right.



Yeah and that is why you may lose market share to a more astute coin which understands that price isn't the only metric of success.