Only if you use intellectually dishonest definitions of "terrorism".

The terrorist organization which has harmed more innocent people than any other currently-existing organization in the world is the US DoD.

It's possible that it could be used by terrorists to transfer value around. But honestly at this point I highly doubt it, and I would expect most groups to have some sort of network between countries where they can exchange money. I know there is a massive non-terror related network for transferring money throughout the muslim world already.

Why use abstract and vague rules of trading, they are so easy.

1) Identify the main trend, if it's a bearish or bullish one.

2) Trade accordingly, avoiding to trade against it. The trend is your friend.

3) Don't think the price is already very low and that it's time to buy. Prices can always go even lower.

4) Be careful guessing tops and bottoms. If you were wrong, jump out and assume the loss, instead of converting your move on a long-term one. If you insist in keeping them, avoid buying more to lower the median price, that is a recipe for disaster.

5) I know it goes against all the rules you learned on life (it's a violation of the rule of demand, that says that demand lowers when the price goes up), but don't think the price is too high to buy, unless it's clearly temporarily overbought or it was a fake breach of  a resistance. If it's on a bullish trend, the probability that it will keep going up is higher than the opposite. So, many times, buying higher has more sense than buying lower. Ex. I have little doubt that if bitcoin breaches clearly the 1156 top on bitstamp it will keep going up.

6) The rule is not to buy low and sell high. Buying an active on a bearish trend, going lower and lower, is a disaster. If the active is in a bulish trend, the rule can even be buy high and sell higher.

The hard thing isn't to identify the rules, but to follow them!

I think he means play devil's advocate with oneself.  Learn about all of the potential things that could go wrong.... Government intervention, wallet theft, inflation, competing currencies, and so on.

We could write thousands of pages of discussion about this, but I try not to spend my time like this, sorry. I was already a bit pissed at myself for making that last post so long.

You are of another opinion, and that's cool. Your last link was interesting, hadn't seen that one before.

Im just going past halfway of the book. So far, another good read. I was probably more gripped by currency wars as much of the content was new to me back then.

But anyway, I really liked the few pages discussing negative rates. The true bastardry comes in the harmless sounding terms 'QE' and Op Twist and all these other easy to digest soundbite names; at heart they are deliberate policies designed to sipher your money via inflation.

This is actually quite sickening. While destroying savers and the wealth of the regular joe was previously done by bank laws on deposit rates, it now just does it a little more subtly.

And therein lies a damn good reason to be in bitcoin.

My opinion is only considered radical in the real world, but on this board, I think a lot of posters would agree.

Nothing against academics who have actually worked in economy. What I was talking about are the pure academics, who prove again and again they can just draw pretty graphs on a blackboard and tell you about theory beautifully, but they can't manage anything in reality.

Examples:

We have had 5,5 years of unprecedented money creation and ridiculously low interest rates. The US money supply is many times as high as a couple of years ago (just google "US money supply" images for graphs), yet the economy is tanking (it is, don't believe what the mainstream media is telling you). But the FED keeps on doing what they are doing. What would you have said 7 years ago if someone told you interest rates would be kept near 0 for many years (many more to come) and the money supply quadrupled or whatever? You would have declared them insane.

That's where we are living now, in an insane economic reality.

So I think it's fair to say that something isn't optimal here and Ben isn't the genius Time Magazine made him look like when they gave him their "Person of the Year" cover...

Yellen admitted herself she had no clue about the bursting bubble of 2007/2008 and didn't see it coming.

Unfortunately, the right people will never be in the right position there, because they are not in the sheltered realm of politics, but out there in the real world. And also, it can be a very unpleasant thing to face the truth sometimes...

If I was president, I would make Peter Schiff or somebody like him Fed chairman, ha ha!

Another example: I was discussing inflation with so many friends who had studied economy, and they all seemed to believe the official inflation numbers. They had learned about this stuff for years, but couldn't even keep their eyes open for price changes at the supermarket. One good friend of mine, a clever guy, said he would ask his professor about this. A couple of weeks later we talked again and of course he told me his professor had assured him the official numbers are correct.

I don't even want to get into what happened when I told my friends about the massive gold price suppression (which is a proven fact), ha ha...

I have seen it again and again... those are just a couple of examples.

You seem pretty new to this way of thinking, you can check out websites like zerohedge.com, if you are interested. You get a lot of info there the mass media would never tell you...

He is probably talking about self bias.   A university is part of the government system it then intends to study.   We could argue education is independent but the amount of money put out by government and the large amounts spent by universities I think puts them into a mutual relationship.    I think Timothy Geithner, Ben Bernanke and BHO have between them one years experience in the real world of business unfunded by taxes and yet they spent trillions with their high qualification and almost zero experience

Whats radical now used to count as common sense

The IRS can go fuck them selves, Absolutely anyone trying to "tax" bitcoin mining income can go fuck themselves.
It's intolerable and just plain screwed up.
Anyone trying to do such a thing is basically saying "lets send all bitcoin miners offshore to centralized could hashing facilities that can be easily shut down in comparison"

Fuck Right Off, All bitcoiners should stand up with the middle finger to the IRS about this.
I am Canadian... *crosses arms* I am willing to fight a war over this and give my life to defend the future from tyranny
No government should be allowed to "tax" an income source that they have Nothing to do with.

Not me.

But the people sitting at university teaching theory have no idea about the real economy anyways (see Bernanke, etc...). It's not about having formally studied this. 

Music: Napster sued by Metallica. Bigass congressional hearing over Metallica tunes being shared for free online. (Really, Lars? Really? Took 2 days to download a three minute song on dial up and you felt violated?) Ripping music CDs and P2P music sharing pissed off government and music industry corporations, and some artists. Fear mongering: ZOMG!! You're stealing from Metallica! Courtney Love, of all people, wrote a fabulous 5 page essay/commentary on the thievery of the record labels and supported *decentralization* of the industry.

And lo, record labels either adapted and learned to accept people, when given a choice between paying 30 bucks for a CD of crap they might not even like, most of which went to the label and not the band, and P2Ping any given tune for free and eventually making micro payments for what they wanted, they all chose option B.

And the government AND corporations lost to the people choosing decentralization of the music industry.

Movies: MPAA and RIAA decided the pirates were costing (them) billions. Bigass congressional hearing over it and various assorted one hit wonder actors testifying about how hard done by they were to be losing all those royalties when people illegally download/stream their movies. Then came the fear mongers and threats...we will find you and kill you!...or, find a 13 year old and make an example of him when we sue him for 49.2 billion dollars for all the movies he jacked from Pirate Bay. And let's go stop Pirate Bay! And China!

TPB came back better than ever with renewed P2P numbers and now there are all kinds of streaming freebie sites to watch anything and everything absolutely free - right alongside Netflix...because given a choice between paying 60 bucks to go to a crowded (or empty) theater and put up with idiots kicking the seat, yapping, or the kids crying, or the $12 box of popcorn, and jacking the same movie for free online, or watching their favorite tv series/shows free online, the people chose to cancel their cable tv subscriptions and haven't stepped foot in a theater in years.

And the government AND the movie studios lost to the people choosing decentralization of the movie industry and the television networks who caved and signed deals with online movie houses who charge a fraction of a movie ticked for unlimited viewing.

Books: Big name publishing houses set the rules by which any of us ever see an author's work. They had sole authority to determine who was worthy of being published and who was rejected. Until someone figured out a way to digitize books and then Amazon came along and opened up self publishing. Out came all the fear mongering and law suits. ZOMG! You're stealing food off the tables of starving authors! And self publishing? Anyone can PIRATE YOUR STUFF and you lose money!

And the government AND the publishing houses made examples of various "unscrupulous" authors faking reviews and whatnot, and held hearings on digital content prices and media harped that nobody would ever take self published authors seriously, nor would anyone choose a computer device to read on in place of real books.

And the government AND publishing houses lost to the people choosing decentralization and the ability to publish and create and own 100% of their work...so the publishing houses either adapt and promote digital format options or they go out of business.

Same for the video game industry, the electric companies, the telecom industry, and every other industry that has been controlled by corporations backed by government enforcers.

In the end, it doesn't matter what the government wants because the government isn't an entity. It's a conglomeration of smaller agencies made up of people with self interests over business interests at the end of the day and they also have a choice to support a dying currency in a weak economy or an alternative with much more security and potential for much wealth...

Bitcoin is doing and experiencing the same, exact "conflict of interest" and "threat" from the same two "entities" - government AND corporations (banks included) who have a vested interest in NOT making the USD worse than it is already...but the people have seen the reality of incompetence, corruption and psychosis of those "in charge" and are quite willing to look closer at THE ALTERNATIVE to USD.

Not everybody jumped on the internet/email/website/doing business online bandwagon the first half dozen years. Tons of people vowed it was a fad that nobody would take seriously - in the face of mega corporations, banks, and agencies moving business online. It was beating them in the face and still they hollered fad, nobody's gonna do all that, it's too hard.


Government can make all the laws it wants about bitcoin, same as they made all the laws they wanted with pirating movies, music, books, and games, or trying to regulate solar panels to pacify the electric companies who'd lose business to el sol...but ones the P2P genie is let out of the bottle, the government can't enforce a damn thing...they can't afford to pay enough people who have the technological capacity to do anything other than go after a few people to use as examples...Mt Gox may as well be Napster. May have gone out of business, but P2P music sharing is stronger than ever...

Government can outlaw it, which will only reinforce the black market. They can't enforce it anymore than the government can "turn off the internet".

Just a matter of time before the money thrown at the infrastructure gets things stable enough for Joe Blow to easily grab some bitcoin over the counter as a gift card and store it securely - and those two things will be when the rest of society gets on board.

IMO the biggest threat to bitcoin is the information overload and convoluted, overly technical aspect of learning how to get it and secure it and use it...as long as it's over the head of Joe Blow it's not going to gain traction. It just isn't.

Joe Blow can get on you tube, watch half a dozen reviews and figure out what kind of smart phone to get, go to WalMart, buy it, get the pay as you go plan (because given a choice between a corporation's 2 year $100 a month plus first born child contract plan and a $50 pay as you go card with unlimited use and no horse shit, people choose option B without hesitation), set up the account and start using the damn phone within 15 minutes or so.

When Joe can go to WalMart or the local vape shop or coffee shop and grab a bitcard over the counter, scan the barcode to set up the account via the smart phone, pay the merchant the value amount and activate the card same as a gift card, and the bitcard is also the wallet that isn't hackable, then it'll catch on.

Government is not a threat. It's just a nosey, fear mongering, psychotic pain in the ass - same as it's always been. This fight will be more interesting to watch though because the ones who control the money control civilization...and when the people choose the P2P option of currency, the government loses its control short of a tyrannical retaliation...which is the line in the sand...it won't happen in this country. No matter how lazy Suzy Homemaker is, there are millions of people who won't for one second tolerate any government official trying to pull it off without blood in the streets...which includes LEO, feds, and soldiers refusing to enforce the dictatorship.




TLDR - 1. bite me, 2. we've fought all this already with music, movies, books, games, power and they lose to p2p, 3. government aint shit, don't sweat it. 

why should it be inflationary?