I'm relatively happy selling off some bitcoins when it was around $1100 for $1148 gold.  Now I'm 75% silver 25% gold and still have enough bitcoins.  All my bitcoin and gold + silver are free at this point and I'm playing with the house money so it doesn't matter a whole lot.  

It's possible bitcoin goes up from the cup and handle here, or it's possible it enters another bear market until next halving.  The fact that the Chinese manipulators got their leverage, wash trades, and zero fee transactions cut off means they might have some problems manipulating it above $1150 for the near future.  Without being able to margin it higher or create giant short squeezes, they might also attempt to raise price, get stuck in the $1100s and create a triple top.

Bitcoin as a settlement layer would mean you'd always be dealing with derivatives of bitcoin in order to do day to day transactions that increase it's counter party risk even higher than it is now, and everyone knows bitcoin's counter party risk is already higher than metals in the first place.  There is no situation ever in which bitcoin has less counter party risk than metals, especially when you're using bitcoin derivatives.  

A normal human actually can be their own banker with metals, but with bitcoin there are a million external counter party risk factors that can implode it - like whatever a random bitcoin dev decides to do after waking up in the morning.  Then the fact that if people are going to claim bitcoin is never actually "finished", it's a centralized technocracy by default on the software side and centralized by economy of scale on the mining side.

Can you make money with bitcoin?  Sure.  But don't pretend it's actually solved any problems to make metals obsolete.  Contrary to popular opinion that bitcoin "works" because it's existed for 8 years, this is misleading.  You can start timing the date of whether bitcoin works or not from the point where all micro-transactions are forced off-chain and all on-chain transactions are settlement payments with derivatives of those settlements (such as LN) being used for commerce - with block reward also gone, surviving off transaction fees.

Bitcoin can currently derive price entirely from just being a wild speculative gamble, but the closer you get to the endgame, the more the price will be derived from if the economics and use case makes any sense - and whether economy of scale makes it completely centralized or not.  As I said above, I don't think it has a valid use case as a store of value or settlement layer, so this means it's only hope is LN + vast amounts of transactions and then it's value I guess would be held up by acting as some type of paypal-like processor.

As everybody knows, gold and silver don't really require high transaction flow and turnover, but bitcoin's price is entirely high transaction flow based.  This is why bitcoin as a settlement layer without derivatives of those settlements that are also deemed to be "trustless" has never made any sense.

I can tell you why Roger Ver is wrong below, because bitcoin does not have any real value as a settlement layer and all on-chain scaling will be a settlement layer.  When I talked to the Gavinator before, he also seemed to give the impression he didn't think bitcoin was a store of value either, but he either could not articulate precisely why, or chose not to.  Either way, just like Ver, he seemed to erroneously think on-chain, bigger block scaling could provide some type of fix to this problem when it really doesn't.

I addressed these questions below:

Why bitcoin does not function as a store of value:

https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-vol-7-bitcoin-is-not-an-actual-store-of-value-because-there-is-no-real-price-floor-or-inelastic-demand

and

Why bitcoin does not have value as a settlement layer:

https://steemit.com/bitcoin/@r0achtheunsavory/the-roach-report-vol-10-why-bitcoin-is-currently-a-roach-motel

The TLDR version is:  

A settlement layer has to compete with or beat gold as a store of value.  Bitcoin cannot accomplish that task so it has to do something else besides being a settlement layer or there is no point.  The only way possible for bitcoin to have any real use is with a lightning network-type solution that vastly increases load capability.  But even then since it doesn't function as a store of value, and the economy of scale forces centralization, I'm not sure what the value proposition will be in holding the coins - if there will be a value proposition or if it will just be like holding Paypal units.

This is all forward looking, long term, endgame analysis here.  Even though it doesn't appear to have a viable endgame without a LN, and questionable value even with one due to not functioning as a store of value and inevitable centralization - who knows, it could go up 10x before people figure that out.

If the state has the power to take everything from you, I'm not sure how useful a bitcoin brain wallet is gonna be while you're hammering rocks in the gulag.

To me, it seems like they're either claiming you can't trade your way to fortune, or that your trades only have a 50/50 odds of hitting on a drawn out timeline.  Whatever conclusion they're trying to imply doesn't seem to have any logic to it due to reasons I stated above like asymmetric information distribution and differing ability to analyze said data.

The reason I give it any plausibility is that when the metals bull ran began in 2016, there was a lot of gold being transferred to the US from Switzerland in what seemed like an effort to prevent a run.  The small bullion dealers and places like the 300:1 leverage Comex are completely disconnected markets.  It's entirely possible for gold to be near spot at small dealers and be much higher for bulk.  I imagine a lot of these OTC deals for bulk are also done trying to maximize secrecy and avoid places like the Comex because they're scared of govt confiscation or something and want to leave as little of a paper trail as possible.  If you're not going through a dealer or Comex, I imagine the price would be high.

There is also virtually 0 difference in people like David Morgan, Jim Wille, or Martin Armstrong.  Morgan's $25 silver call for 2016 was a bust.  Jim Wille's calls on UFOs or whatever he talks about have (probably) been wrong.  Meanwhile, Armstrong is either wrong or claims the price will both go up and down at the same time, and that 2015.75 date sure was bogus as well.

Bix Weir is another one who is probably below 50% in calls.  The one thing I do find interesting about his constant claims is about the grand canyon supposedly having a mother load of gold there, since it seems like there actually was a story printed in the paper about it in the early 1900's, then it was never heard about again.  Whether that story was fake and for market manipulation purposes or whatever, who knows.

I'll tell you what's happening, the act of betting a large amount of money on a fight and transferring funds from Coinbase and then having Coinbase threatening saying they're going to delete your account.  The 1984 state of cryptocurrency is here long before you expected it to be.

Remember when I said the real price of gold should be $2200 even in their artificially low rigged system and that people already had to pay far above spot to locate large amounts of gold currently?

Jim Wille claims people who are attempting to buy gold in bulk (like $100 million) have to currently pay exactly that much to find it ($2100 - $2500):

http://youtu.be/ef4-NF0TT7w?t=122

Um, no.

Are you citing "efficient market hypothesis", which is the most wrong scam of an economic theory to ever exist?

"The efficient market hypothesis (EMH) is an investment theory that states it is impossible to "beat the market" because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information."

According to that theory, it's not possible for millionaires to exist who made money in the stock market.  It pretends there is no asymmetric information distribution or capability to analyze such data and that all humans are 100% optimized branch predictors LOL.

Will be interesting to see how this affects bitcoin should it occur:

Alex Jones claims Trump will release "hidden" DARPA technology:

https://youtu.be/IlzXhH9bwI8?t=1083

I think there is actually probably something to it, since it seems like numerous groups have published data in the past about being able to create 40-90% efficient solar energy collectors, yet here we are still sitting at 20%.

Meanwhile, the Jews have banned white males from working at banks:

http://www.reddit.com/r/altright/comments/5q3rox/no_straight_while_males_allowed_at_bank_of/

While Trump resurrects Andrew Jackson:

http://www.reddit.com/r/altright/comments/5q5fz7/trump_hangs_portrait_of_andrew_jackson_in_oval/

Meanwhile, the Jews have banned white males from working at banks:

http://www.reddit.com/r/altright/comments/5q3rox/no_straight_while_males_allowed_at_bank_of/

While Trump resurrects Andrew Jackson:

http://www.reddit.com/r/altright/comments/5q5fz7/trump_hangs_portrait_of_andrew_jackson_in_oval/

Decades for gold and silver to go up?  Yea right.

The debt is too high for them to even normalize interest rates now and you're now getting currency wars where the goal is to see who can devalue their currency to 0 the fastest.  Currency wars either end with a real war or both nations using metals as a common unit of account.  There's also almost unanimous agreement to go back to a silver backed peso in Mexico, so if Trump should implode their economy, they will likely be moving to silver fast - which will then start to implode other ponzi fiats.

There's about a million different reasons why metals will skyrocket in the near future and why governments will be using them in some manner.

I have better things to do at the moment than try to flood the planet with clones of myself like some type of sub-saharan African.  The other life on earth like whales and rats and whatnot matters as well.  Every human having kids just hastens the demise of all other lifeforms, so it's not like there's some benefit from western people attempting to adopt r-selection to compete with others that do when it's already a losing strategy in the short and long term in the first place.

The issue at hand is twofold:  

1)  K-selection technology has erroneously been handed to r-selection populations who could otherwise never have invented it, which only subsidized evolutionary dead ends.

2)  Globalization makes regional overpopulation that would otherwise sort itself out everyone's problem.  Instead of r-selection groups evolving towards k-selection and increase efficiency, they just outsource their deficiencies to maintain themselves in current state with less effort.

Since k-selection groups do not win in any way by converting to R, the only choice is to either completely remove yourself from globalism to stop subsidizing them, or actually go to war against the r-selection groups to prevent them from overrunning everything.

As for reproducing solely for the sake of reproducing, either way the sun will eventually go red giant and eat the earth.  Even if you believe you're going to get your genes off the planet before that happens, you still have heat death of the universe.  There is no way to win that game and achieve immortality unless you believe you can "transcend" into some other type of plane or whatever.  In such a case you no longer need to reproduce since reproduction is only needed if you plan to die in the first place, or if further rounds of selection process would actually be beneficial.

My war with the Jews has nothing to do with others.  I consider their media propaganda and usury slavery schemes an insult to me personally.  I'm not trying to save the world.



The US acts as a blow off valve for the failed state of Mexico.  By closing off that valve, Mexico will either turn into another Venezuela or worse at our backdoor, or they will implement some type of huge economic changes.  There's almost unanimous consent to go back to silver backed peso in Mexico with people like Hugo Salinas.  Any type of turmoil Trump creates in Mexico would likely hasten such a thing.  Mexico going back to real money would then accelerate the demise of fiats in other countries.