Risk Mgmt I would suggest that you not put one single dollar (euro, etc.) in any "crypto" product coming out of Venezuela. Maduro is a thief and thug. Besides, neither Bitcoin, Litecoin, Ethereum, Monero, etc., etc. are "backed" by anything. Anybody who wants exposure to oil price should consider oil futures or buying stock in oil companies. JMO... |
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Just received my latest order of Au, Pt and another Pd Eagle (15,000 minted, and not all of them are MS70). So, I hear ya Mr. Roach.
HODLing both PMs and BTC is smart.
But, it's never a bad idea to hold on to a reasonable chunk of crypto if you have already gotten your investment back. Or are already ahead.
Crypto is, in one or many forms, here to stay.
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What is a Human body without a Soul - likely something artificial / impostor / fake
With USD$ as fiat as it may be....is represents United States of America and its Economy / its Government
Sames with all other paper Currencies...they represent something.
Metals even have some industrial value
What exactly does BITCOIN REPRESENT or WHO or WHAT?
I'm asking - because I still can't understand what or who BITCOIN represents. I only speculate that during this BITCOIN RUSH..and someone or some state is accumulating metals or other objects of real value to later use and back up BITCOIN....
Sorry for my crazy inquiry.
Not crazy at all. FWIW, here is my response, quite imperfect and simplified: Every piece of Bitcoin "owned" represents that you have paid for a piece of (more accurately: it's on the decentralized ledger Blockchain) of ENERGY and WORK having been done -- solving a math problem. BTC is worth something because many, many people are OK with it as a somewhat Store of Value and Medium of Exchange (thus fulfilling to one degree or other TWO of the three most famous properties of "money" [the other being Unit of Account]), you can buy gold on the Internet with Bitcoin. I have done it several times. All the cryptocurrencies more or less share the above characteristics. I own BTC and precious metals (mostly gold, a fair amount of platinum and tiny amounts of silver & palladium). More $-value of what I hold is in the metals vs. BTC. As BTC price has been rocketing upwards, I have been SELLING BTC and buying gold. When BTC is over 1.00% of my net, I sell some for gold. |
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I'm also 99% sure Fort Knox is empty. The trajectory for gold holdings of the US was on a clear extreme downtrend when it was in the 4000-8000 ton area decades ago.
Yeah. The books say ~8133 tonnes in Ft Knox. But I share your skepticism. With great respect to you two guys, my *guess* is that Ft Knox, West Point, the Denver Mint and the FRBNY (latter as a custodian, not OWNER, and they hold an est. 400 tonnes of US "National Gold" as well as some 7000 tonnes of foreign-owned gold, maybe less now that the Germans took some back) of the US gold probably is 8133 tonnes (total). Most trusted reference: relatively anonymous smart gold analyst FOFOA Stealing thousands of tonnes of gold would be VERY hard to do and keep secret. I really don't know how bad the manipulation of gold really is, my *guess* is there is some, but perhaps not as much as many believe... NO ONE at the central banks and .govs gives a shit about silver, my opinion only, but based on my extensive studies. * * * CornCube Re gold coins, the rules are a bit different for AMERICAN gold coins, somewhat less-reportable (should you cash them in). I am pretty sure about this. If any of you think you may need to resell gold in small-ish amounts within the USA (say < $5000 worth at a pop), buy the American as the reporting laws are more lax. Do your own diligence though. BTC is now under MUCH greater scrutiny by the IRS now (I have seen some of the actual TEXT they send to tax preparers). Gold has long been heavily (yes, heavily) scrutinized by .gov -- check out the money-laundering manuals at many coin shops... Selling BTC at a profit, even if "exchanging" it for gold means that the IRS will be able to easily acquire that info The bullion companies invoice in US$!! That means it is not a "like-for-like exchange". I spent some 9 hours over the past three days just to get me ready for filing my 2017 Capital Gains declarations (I have made many many BTC buys, often in small amounts). Yep, it's a REAL BURDEN. But: DON'T FUCK WITH THE BIG RHINO (IRS/.gov) !!! |
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CornCube
That Bill S.1241 being proposed is a real stinker. Illegal to hide your assets?
Maybe that Knowledge Age thesis is right. Very smart people will WIN, the rest will LOSE. I wonder how many will be in that lucky group of very smart guys who will work hard?
Has Armstrong ever looked at the Knowledge Age idea? Doesn't seem like his cup of tea, but his views would be useful.
* * *
Cryptocurrency BTC (which DOES have its problems) is slowly leaving Bearing Guy's "Stack". Just sold off a schnitzel of BTC for gold @ $12,180.
"Bankster Odeur" may be that faint smell in the air.....
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... An hour or two ago, I sold off another piece of my BTC "Stack" (at price of $12,180) for more gold. BTC has gotten way ahead of its 1% limit of the total value of my net wealth. Each time BTC spikes up, I sell some for gold. It's almost getting boring...  |
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https://www.youtube.com/watch?v=CdtXu2CmEiIThis is pretty huge news. And yes, this is is not a fake, this is the real footage: https://www.youtube.com/watch?v=EUNLSBtdFZYIt's in spanish, unfortunately there are no subtitles. Someone could add them? Im sure a video with subtitles would get a lot of views in the coming hours. Apparently, it the cryptocurrency will be backed by their own petrol reserves, thus ditching the "petrodollar" to have their own dollar backed cryptocurrency. Fascinating times to live in. I wonder how this would develop. If someone has more details post below, including a translated video. Even were the Petro price ZERO, I would be inclined to short it. Anyone believing a word that Ratbag Maduro says obviously knows nothing of him and Venezuela’s current plight, brought on by thieves Chavez and Maduro. “Secured” by Venezuela’s oil, LOL.... |
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Para comentar el avance, en la av wilson hay un centro comercial que tiene un cajero de BTC Dirección: Int.138- 15116, Av. Garcilaso de la Vega 1358, Cercado de Lima, saludos  Oooo, justo estuve en el Peru, que pena que no sabia del cajero BTC. La maquina necesita identificacion? [No soy peruano] Ojala nuestro proximo viaje al Peru podria irme alli si el BTC ATM funciona bien. O unos pueden reunirme en un Starbucks (etc.). |
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I am sorry, but can you post this on english instead of that weirdy language? I dont even know what are you trying to type since it is unreadable. A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).
Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.
Opinions solicited from you all....
What did your friend asked to you? I dont get it, did he ask you about "what bitcoin is" or "bitcoin is a bubble?" I dont understand since your whole thread is making my eyes bleed a lot. Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.
Colloquial American English. Google's translation service still needs work... It appears that Bitcoin is about to become VERY POPULAR. A friend asked me, unsolicited (that is, he asked me without me having to mention BTC to him), about Bitcoin. I am curious to learn if others are hearing a "thundering herd" coming our way in the distance. It's a cowboy metaphor. |
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Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.
A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).
Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.
Opinions solicited from you all....
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Only slightly O/T are all of the rumors about 3000 + sealed indictments handed down over the past few days (apparently normally it's just a few hundred). Rumor has it that most involve Clintons / Obama / DNC / Debbie W-S / etc.
But, as I just mentioned earlier today at ZH, it seems too much like a fever dream to think the Clintons are going to get the justice they deserve.
However, perhaps Sessions and Trump are really smart old foxes..., laying low, waiting for the right moment to strike his enemies, and he has MANY enemies there in The Swamp.
The Swamp would roughly equal the Parasitocracy. Maybe a little Kakistrocracy too (rule by the very worst people IIUC).
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We fixed a bug preventing people from using multiple output addresses and forced them to only use 1. Thanks to the Bitcoin Talk member that reported it.
Ah, great news. Someone try that out and let us know! A while back some may recall that I did a very simple test run just to make sure the service did not take my money and that the mixing worked (it worked just fine). I just spent a wad of "old" BTC on gold, cashin' in at $9300 so am unable to try for myself, at least now. * * * Do note that spending BTC (even when mixed) that has gone up in price (even trading BTC for gold) does mean that any such gains ought to be reported to the IRS as Capital Gains. I have alerted people (inc. beginner/wankers) at Zero Hedge. Buying gold means that the seller has to ship it to a name and an address... So, using mixed BTC for some transactions involving real goods being shipped is trackable by the IRS using Chainalysis and similar software. Don't mess with the Big Rhino (.gov), the risks are not worth it.For me, mixing BTC (and perhaps other crypto later) has two big advantages: 1) Hardly ANYONE (hackers and crooks) will ever be able to track down your BTC holdings 2) Not even the IRS..., as long as you HODL it, to my knowledge anyway (ask your LAWYER, LOL, if you have doubts) |
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It seems as time goes on, Bitcoin loses more and more transaction volume share to ICOs/altcoins. It is to be expected as programmers around the world are learning how to do this stuff and want to make and promote their own brand. The problem arises when they get greedy, which almost always happens, and as a result everyone loses. We need some sort of closure to this madness, and hopefully soon.  Yet his project looks like it would be excellent work, even if only, say, just five cryptos are chosen at first. Could always work others in at a later point, I presume there would be no real rush. I'd like to see the below done (this is just my *best guess* as to most USED cryptos in actual commerce): Bitcoin Litecoin Monero Ethereum ZCash (although I read something very negative about the controllers of ZCash today at Zero Hedge) Later I would like to maybe see: ZCoin (apparently without that above control issue, but, hey, I don't know) IOTA (apparently it's an interesting idea, but weak technically ?)) Just my thoughts, FWIW... |
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Anyone here read below comment by MA:
Can someone in layman’s way explain below statement
“
am not at liberty to discuss such matters. With MIFID II, it is more curious as to how American banks will be able to put out such forecasts contrary to MIFID. I cannot reveal the plot just yet going on in Washington to deal with MIFID. Trust me, there is a very sinister plot afoot and when I reveal the scope you will be very surprised how the Trump Administration is being manipulated as has every Administration since Clinton.”
Any idea what plot he's referring to here?
Risk Mgmt I'm no expert, but this was a link in Armstrong's recent article: https://www.armstrongeconomics.com/products_services/socrates/the-mifid-ii-directive-changing-research-forever/Here's a clip: The Mifid II EU financial market directive is to begin in 2018, and is changing everything. Financial analysts employed by banks and securities brokerage firm are likely to find themselves without jobs. Hundreds are under threat of losing their jobs due to the new regulations taking hold. Mifid II will change research forever reducing analytical departments on a grand scale. Banks and brokers will have to explicitly reimburse their expenses for the research, which up until now, has simply been part of the trading costs. A significant part the trading costs have been attributable to the work of financial analysts. Someone has to pay for them to write investment studies and letters, and provide advice to clients – asset managers, large investors and wealthy private individuals. The problem has been that such advice is far too often tainted with conflicts of interests and that has led to major lawsuits and big awards to clients. Even back in the 1980s, the top analyst at Salomon Brothers Wall Street investment bank, would come out with some recommendation and his own firm would be on the opposite side of the trade. Those days of conflicts have come to an end.It also looks like a set of directives regarding research into derivatives, via Google search: https://en.wikipedia.org/wiki/Markets_in_Financial_Instruments_Directive_2004My best guess? This directive will mean that banks who employ researchers will have to charge customers for that research, or potential customers needing that sort of research will have to pay for independent research (like Armstrong is offering to institutions). Derivatives are what may burn down the [financial] house. But, .gov regulation is dangerous. As are the BANKSTERS. I am sticking with products like gold and Bitcoin, which are not really derivatives created by banksters or .gov (latter that we know of anyway). |
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The prices of gold and Bitcoin are relatively independent, and both are good for storing value. But, BTC has had a HUGE run, so today I traded some BTC (at around $9300) for gold.
Diversification...
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Why people who promote craptocurrency over metals are idiots: I'm not a fan of Martin Armstrong, but his definition of gold and silver is "a hedge against government". An actual competent person trying to disparage bitcoin would mention that bitcoin is not a hedge against government since it's traffic is not obfuscated and it runs on the governments own infrastructure. Not to mention it's not possible to create a decentralized digital currency in the first place, only centralized ones. At the end of the day, the only valid hedge against government is metals because government can't afford to police the entire physical world, but they can easily afford to police the digital one.
Cryptocurrency only exists due to the will of the government. Jewish sheklers like Larry Summers and Ben Bernanke actively promote it (red flag). They promote it because the amount of gold in Fort Knox is somewhere between 0 to 2000 tons max (much likely far closer to 0). They all know people are going to hang (hopefully lots of jewish criminals) when the debt bubble collapses and the US is forced to issue a new form of money with all the assets serving that role "mysteriously" being gone.
They're attempting to pull a business as usual scam and pretend they can just "print" up some digital 0's and 1's in the place of real money, avoid hanging in the process, while also enslaving the population even further with a new Jewish controlled, digital only slave blockchain to replace the former Jewish, debt based scam currency. There's just too many Goyim that know now, so unless a tidal wave of millenial cuckolds buys into the idea that digital scam tokens are somehow more valuable than real world physical money like metals, everyone at the fed, the BIS, and the IMF will hang.
What are your thoughts on platinum as an investment? Many, many people HATE platinum as an investment. Pt has doubters who may be right about one thing: if electric vehicles take off, Pt and its related metals may decline substantially in use, as no catalytic converters would be needed in such (new) vehicles. However, I like it, partly because so many hate it. Pt is diversification within precious metals. It is also "value dense" (a little bit is worth a lot). So I buy a little Pt from time-to-time. As I repeat ad nauseum, I love diversification. But for me, the precious metal king for me is gold.I would ONLY buy Pt (if I were you) if you already have a reasonable base of gold (possibly silver as well). |
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A point at which bitcoin is starting to become completely comical to me: If Bitcoin Diamond has more proof of work than Bcash, then Bitcoin Diamond will become the real Bcash.
There's no such thing as "more proof of work" unless you claim there's some intrinsic characteristic that makes SHA256 the only valid hash function that exists, which there is clearly not and it's just a meaningless, arbitrary talking point. Which is much higher on the list of problems than complaints from other people such as "the only valid proof of work would require 51% of energy in the entire known universe". Forget about total energy/work usage, there is not even a common consensus point in which to exert that energy on, especially when you consider SHA256 quantum vulnerability to things like Shors/Grovers. Just another reason to flop onto the stack as to why bitcoin and all other cryptocurrency are just Rube Goldberg machines that don't actually do what they claim. Not more comical than your $600 bitcoin to gold conversion hahahah. Hows that 15x loss feeling today? And another day of the indian liar sidhujag. Since I margin traded the halving and closed around $800, the lowest I've ever converted any bitcoin to metals is $800+, and I only sold 1/2 of them then. I've converted plenty of bitcoins to silver at the $3000-$5000 level too. What I have left I'm letting it ride for now. So as you can see, I've been selling off in tiers like any non-retarded person to lock in some type of gains rather than holding thin air and pretending it's wealth. I think it was Charles Hoskinson that said he bought an Xbox with bitcoin when they were $1 each, so that would be like a $1.6 million dollar xbox. Except it's not really because bitcoin doesn't represent any type of tangible wealth. You have nothing until you've converted it into some type of physical asset to realize some type of gain. The value of bitcoin can vaporize as fast as Zimbabwe dollars. Actually my strategy has been similar to r0ach's. I have sold off BTC at various prices, some MUCH lower than now for gold (jmbullion.com). But, not all my sales were at such terribly low prices, I sold twice when BTC was around $6400. I got a nice shipment of gold then! Selling BTC in tiers (thx for the right word r0ach) or tranches is just smart. ALL of my BTC is profit, already paid for and more. It will hurt to have to trade in more BTC, but my next sales price will (perhaps) be $9000 - $10,000 if the price keeps going up. Mmm mmm, more tasty gravy, whee...! But, I will not sell all of my BTC for the foreseeable future. Bitcoin (or perhaps more accurately cryptocurrencies) are natural allies! |
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... First have a happy (belated) Thanksgiving, my favorite holiday.... Even when I'm in South America now. I have MUCH to be thankful for. R0ach may wind up right in the end. Or as (AKA) "CornCube" has earlier suggested, all that Au and Ag may be tossed into the streets "When The Man Comes Around". THIS is worth a listen (40,000,000 views), play it loud...: https://www.youtube.com/watch?v=k9IfHDi-2EANO ONE KNOWS!NO ONE KNOWS!* * * But, I am glad to have held on to [much of] my Bitcoin, even having bought gold when the BTC price was a lot lower. In practical terms for me: ALL the BTC I own has already been paid for, the rest is all gravy... Mmm mmm! Diversification, bitchez! |
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