Exter's pyramid is mostly a concept of money seeking safety, so like I said, the anti-fragile nature of an asset plays a big part there and not just "belief" that it is money.  One of bitcoin's largest weaknesses is the rough consensus attack (as seen demonstrated on Ethereum), so that undermines the concept that just belief it is money is good enough when you create multiple targets people have to believe in with no way of convergence.



This is actually not true in the context that the silver market cap is barely bigger than Bitcoin.  You talked about belief in an object being money is important.  Well, it's not that easy.  Out of all the noble metals that exist, the only ones suited to be used as currency are gold and silver.  There is no infinite, arbitrary selection to choose from for various reasons.  This is the reason silver has such huge upside, maybe even higher than Bitcoin, because the bankers attempted to suppress the only other viable option besides gold for hundreds of years while they tried to corner gold instead.  If gold is re-monetized in any meaningful way either by central bankers themselves or by the free market, then the manipulation on silver also breaks with the type of gains you only see once in a lifetime.



Well, Bitcoin is obviously an attempt to recreate gold, except for the fact that "proof of work" done to mine gold always gives you a fungible result between participants, while due to the rough consensus attack, there is no way to converge upon what is and isn't bitcoin.  The only real way for it to function is to be released in a finished state and never fork so the proof of work is always cumulative instead of branching off into the equivalent of alternate universes.  



I'm sure the people in Rome thought they would be mining asteroids for gold too right before the dark ages came.  Anyway, humans are a long way off from living in an open ecosystem instead of a closed one, if ever, so it's not really worth discussing at this point.

I already showed why it's a scam with my previous post.  You gain yield on assets that don't exist.  You might be able to claim this is OK if participants enter this scheme knowingly signing their life away as unsecured creditors to the banks for a meager reward where they gain more than you do, except for the fact that the banks are backstopped by the government which screws people who don't even willingly submit to this ponzi scheme.  Also the fact that they make it illegal to even tell people not use banks (run on the banks) or to use different currency the govt/bank cartel don't approve of.  The act of trying to ban cash also forces you into them as well.

So no, it is not a legit institution and of course it's a scam.   These people are literally devils stealing the wealth of old, geriatric people in wheelchairs via indirect means.  Take into account the idea of compound interest.  The fact they're gaining compound interest on assets that don't even exist means they quickly overtake everyone else and the endgame is like a game of monopoly where one player owns all pieces on the board and everyone else has no option but walk away from the table with the game ending.  In a centrally controlled system they can also manipulate interest rates then front run the market with insider info at leverage to accelerate this process even faster.

The bank doesn't actually win in this case, it just means the monetary system collapses since it has no value if only one person owns it all.  This is how we ended up at the "zero bound" of interest rates now and why they talk about helicopter money and even negative rates.  They're just attempted workarounds to the problem they don't want to address that the bank actually has to give the money back for the system to continue.  Negative interest rates and QE are entirely useless in this context, though.  Neither of those mechanisms effectively re-monetizes the base.

This is why helicopter money is the Jewish banking plan of last resort, but all it really does is just prolong the collapse a little longer.  It is clear you do not understand any of these issues and why things like fractional reserve are always simultaneous scams and time bombs waiting to go off.  Either that or you're some type of banking shill yourself.  The fact that we saw QE being done already, which is pretty close to helicopter money, means this thing is coming down like the Hindenburg very soon.

4-5 months?  Trump goes in office in a few days.  I wouldn't be surprised to see some type of large scale economic events that affect price one way or another sooner.

The best bet in the long run is determined by whatever you believe makes up the base of Exter's pyramid:



I personally don't see bitcoin occupying the same bottom slot as monetary metals so it would have to be one higher on the same level as fiat.  We live in a closed ecosystem and the blockchain for metals was created by two neutron stars colliding, so unless you can replicate that, it's not very easy to tamper with the metals blockchain.  People spam the word "anti-fragile" for Bitcoin, but it's just not in the same category of security as requiring two neutron stars to alter.  As you can see, Exter's pyramid is mostly a scale of real anti-fragility.

People like Bitcoin because they look at it as a free money tree of upward growth.  Assuming the market cap had topped out on both metals and bitcoin and you were forced to go all-in on one, which one are you going to pick?  The aggregate market will likely gravitate towards the most anti-fragile solution in that case if the upside is tapped out.  The only reason people hold Bitcoin instead is because they believe it can have higher yield in the short term as a speculative instrument.

Since less than 1% of people own metals, and even less own Bitcoin, they both have a lot of speculative upside.  It's all about measuring the risk and upside vs one another.  Metals do have huge upside of probably around $5000-$20,000 for an ounce of gold and $166-$1333 for an ounce of silver in current purchasing power.  This would be an average of a +10.6x for gold and +45x for silver.  This means Bitcoin needs to have greater than a 10-45x upside ($8840 - $39,600 per coin) for you to consider it since the risk is higher.

To flatten out some of the noise here, let's assume partipants are 50/50 gold silver split and give you a +27.5x gain.  In that case, Bitcoin would need to have upside potential of $24,200 per coin to be worth holding as a long term investment and not day trading (as of market prices today).  Without Lightning network or a block size increase, I think Bitcoin might get stuck in the $10k-20k range.  So you have these two variables in bitcoin throwing a big monkey wrench into what potential price can be.

Anyway, as you can see from my numbers, it is difficult to advocate a 100% all-in position on Bitcoin with 0 metals even if you are a crazed gambler seeking maximum yield.  If you fall in that category of seeking max yield while still having some type of safety, you would likely be something like 50% metals 50% bitcoin at most, or even 70% metals 30% bitcoin due to the risks involved.  (Notice I did say you need to be a crazed gambler to have 30-50% of your money in Bitcoin).

Already up to my eyeballs in coins.  I just think the danger of a digital only currency is higher than possible benefits, so if playing god, I would likely just destroy it and institute physical silver and gold as the currency.  It seems people want to go through the motions and see what happens with this digital currency thing even though it's pretty obvious what's going to happen.  The only way it's not going to happen is if the government magically ceases to exist before they co-opt it, which is possible but not very likely.  The legal system and men with guns always trumps whatever you're doing with this stuff.  

So you then need to examine the applicability of utilizing Bitcoin only in a black market context compared to using metals in the same situation.  It did work on the silk road in the past, but that did not afford it a high market cap and the government would likely clamp down on it at the ISP level or something to prevent it from being anything more.  Meanwhile, it's very difficult for them to stop use of metals no matter what the law is.  So, as I was saying, the easiest way for you to maximize profit in Bitcoin is to hope that it is a government trojan horse, otherwise it will be a rough trip and no "guaranteed moonshot".

Yea, that's the problem.  The only way Bitcoin can be a guaranteed moonshot is if the plan of governments is to allow it to grow then co-opt it after and turn it into their cashless society slave system.  They'll create a fixed address, alias system wrapper with your name tag on it to go around Bitcoin and force you to use it or you'll be considered a criminal launderer.  We've already seen hints of this action with things like chain anchor.

Chain anchor was the direct approach and it failed (so far).  Next they'll figure out they don't actually have to modify the Bitcoin client and can just make their own that wraps around Bitcoin and legally force you to use it.  They will then wait until the majority of the population is herded into the system and then use the wrap around client to divorce themselves away from a finite, native Bitcoin unit and just turn it into the same fiat system that already exists except with the added bonus of cash being abolished and all transactions are tracked with your money automatically being stolen or redistributed to wherever they want.

They're already floating this propaganda now that with the "rise of robotics" causing unemployment, a Marxist slave system run by technocrats is required for humans to exist.  The only type of functional collectivist systems to ever exist are ones where people share the same genes like in a family unit or as seen in prisons where people form a bloc for common interests.  Tossing the mass of humanity into a big Marxist system always ends in collapse and mass death.

Don't get me wrong, you will probably be able to make some money on the ride towards this obvious endgame, but I give odds of around 10% that cryptocurrency turns out good in some way for humanity, and 90% chance it ends in the above dystopian scenario, co-opted by government and run by a bunch of people with the last name Goldstein.

I own gold, silver, and Bitcoin, and every time I see Bitcoin go up, it makes me equally happy for increasing purchasing power, and frightened since I already know what the most likely outcome is.

Chart says up

You guys should get bumper stickers of that slogan for your cars.

Mat's most bullish BTC prediction yet.  I guess we are heading to $15.

Armstrong = tinfoil & shills for Jewish bankers when every other type of banker is virtually non-existent at this point LOL.

https://www.armstrongeconomics.com/uncategorized/anti-semitic-and-pro-nazi-activities-rising/

https://www.armstrongeconomics.com/history/europes-economic-history/jewish-bankers-vs-all-bankers/


Armstrong predicts the death of Marxism in exactly the year 2072.  This guy is high on his own supply.  That's like saying "a seagull will land on my car January 1st, 2072"

Cryptocurrency is not a real store of value, though.  It is basically at the same level as fiat on Exter's pyramid.  Wealth is derived from resources and labor.  Cryptocurrency will always be the bad money driving out good money compared to an actual resource/commodity based currency whether it's gold, silver, oil, or some other substance.  The problem that it's very difficult to remove counterparty risk on things like uranium and oil always switch roles back to metals such as gold and silver instead.



The last time I checked, nature does not derive yield from resources that don't exist.  It's just accounting fraud established by the boiling frog method where you increase leverage slowly and nobody seems to care since their bank hasn't collapsed yet...until it does.  Then the fact that the scam has been uncovered for hundreds of years is papered over with economic pseudoscience where the common serf believes there's a predetermined amount of leverage science discovered that banks utilize where they won't implode.  The serfs believe the system is a finely tuned Swiss clock.  It's more like:

Doesn't matter.

Why you should convert all of your assets out of the banking system whether it be gold, silver, or bitcoin:

https://bitcointalk.org/index.php?topic=1082909.msg17437091#msg17437091

Am I talking to a bunch of rubes that just fell off the turnip truck?  Of course fractional reserve banking is a scam.  Just because it's an institutionalized scam doesn't make a difference.  Fractional reserve banking is by definition crony capitalism.  If some 10 year old girls open a lemonade stand on the side of the road, not many people mind.  If instead of lemonade they start to sell unbacked million dollar receipts for gold that doesn't exist, it's suddenly an emergency where they're deemed scam artists!

I don't believe in giving permits that grant special rights and privilege for some people to scam while for others it's illegal.  Fractional reserve doesn't actually benefit anyone except the Jew scammers running the banks.  For instance, the price of housing is derived from the debt/credit markets.  If the credit markets freeze and 30 year loans disappear, well, the price of all houses now deflates to nothing since nobody is financing the cost of a house over a 30 year time span and the prices have to be marked to market to accommodate liquidity.

30 year loans can't exist without fractional reserve and it is not YOU that benefits from them, it is usury bankers.  The act of having these lending windows based on fraud exist at all just inflates the cost of assets to the moon in bubbles.  This means if anyone is taking these loans, now everyone has to take them as well even if you normally wouldn't or you'll be priced out of the market.  Some people might think it's still worth it slogging through all this inflated asset price usury burden to be able to own a home, but in the end you don't even own it since you have to pay rent still (property tax).  

This is why the housing market is the ultimate racket.  You're being extorted due to the government mandated existence of fractional reserve jacking up the prices in bubbles, then even if you pay it off, it's still not even an asset.  It's a liability you pay a fee on.  All bubbles and systems built on fraud do crash, though.  The fractional reserve system will blow up giving you a brief window of opportunity to buy at non-highway robbery prices every once in a blue moon utilizing a currency that is not affected by deflationary collapse (gold, silver, bitcoin if it doesn't die).

It is therefore in your best interest to help blow up the system as fast as possible:

Invalid comment.  Libertarianism and anarchism don't exist in a closed ecosystem where all resources are highly contested.  You will be joining some type of "team" or entity or you will not then be crushed by others that did eventually.  The Jews have their "Jew" team while preaching Marxism to everyone else claiming it's racist for others to join together for common interests.  

This is how they created all their media and financial monopolies and why you see nothing but anti-white propaganda 24/7 in the media.  They have overplayed their hand and now whites will once again (just like they've been forced to do hundreds of times before) and either expel the Jew from the country or make the holocaust great again out of self preservation.  There is no bargaining so you can save your breath.  Pinochet and Hitler style right wing death squads are natures natural response to Marxism.  It's their fault, not ours.




Nope, just pragmatic when it comes to self preservation.  Jews destroy nations.  Period.  They form a state within a state, which is why they're always kicked out.  And what do they do with this state within a state once formed?  Why, practice usury enslavement and white genocide of course.  They're the ones behind "The Death of America" immigration act.  They're the ones flooding Europe with rapefugees (Soros and company).  They see homogeneous civilizations as dangerous to their interests because homogeneous civilizations always end up murdering usury banker tyrants.

Nothing good has ever come to a nation that allowed the Jews in ever.  They always without fail use extreme nepotism to try and displace the native inhabitants from power and insert themselves as middle men to practice usury.  This did not happen hundreds of fucking times by sheer coincidence.  Anyone that believes so is a complete idiot:

https://www.biblebelievers.org.au/expelled.htm

Black culture is generally a complete carnival of destruction yet they rarely if ever get kicked out of anywhere.  If the Jews are one-upping blacks in causing mayhem and pestilence for any country they visit, the problem is not other people, it's them.

Enjoy your coming ovens scumbags:

Chicken bone has decided next stop:

http://bitcointalk.org/index.php?topic=1279383.0

I don't usually post dump calls as a courtesy to fellow market makers/china pumpers, but it was pretty much over at this picture I sent to someone yesterday:




Support levels are $923, $965, and $1006.  I assume most of the dump ammo is gone and it will probably hold around $965 then gradually move back to $1015-$1020 range over time.