Interesting in the UK that there is a study stating that 97% of money was credit (FRB money).  Seems like all the decline to currencies is related to private banks creating money out of thin air.

Granted the central banks also do print money but it's a trivial amount compared to how much money is made cooking the books and lending out money which doesn't exist.

These banks are all "too big to fail" (interconnected) and essentially own each other's money - so I don't see the system coming down anytime soon, unless there's some global bank run and the results of that would be catastrophic (it would be equivalent to an EMP attack).

It happened to BTC.  Winklevoss bought BTC

Litecoin can't fail - some rich guy will come in last minute to buy up the sell walls.

Litecoin too big to fail - just like automobile manufacturers and the banks.  Some rich person will come in last minute, buy up the sell walls and send LTC to $30.

LTC is too big to fail.  Some rich guy will probably come in last minute and buy up the sell whales.

Only a minority people post on forums.  This particular forum is full of tards, scammers and trolls, so even less would post.

 Tranloi is a good example - he did the UI / client and yet only has two posts.  He's a real person, some guy in Vietnam at a real company as per Facebook.

Many are just lurkers.  If they are socks, one would have to create 160 sockpuppets back in January just to get the equivalent stake of a NxT whale, at the time when NEM had no value.

People were able to get 5% of NxT for 1 BTC.  To have the same influence in NEM you would have to buy 160 tokens ($250K+) from the 3000 stakeholders.

It's fair distribution.  No instant whales, manipulators or dumpers.  NEM has stability, innovation and community

That's not how math work.  Price of an individual unit and supply is irrelevant (unless it's inflationary like Doge).  Only capitalization and volume is what matters.

NxT used to be $110 million until the public learned about the distribution and then it went down to $20 million by April, only recently went back up and that's temporary since it was all John's hype (he's gone now, right?) and the asset exchange (NEMstake is the #1 asset and it'll disappear when NEM goes live). 


It's not a FAD.  There's a difference between 3000 stakeholders and 7 billion.  As per Aurora, you can't give out something to everybody or it's worthless.  In NEM's case - having 3000 stakeholders was intended to prevent whales and nepotism (like in NxT's case, 10 out of the 20 whales might all know each other in real life or be socks of each other.   People claim there can be socks in NEM but you need 160 sockpuppets to match the power of one NxT whale, so I'ld say the big distribution took care of that problem.  Nobody created 160 socks back in January when NEM was a worthless fork).

It's far from being early in the game.  Bitcoin and all the alts put together is only $10 billion.  The IT bubble of the late 1990s was $7 Trillion.  Housing Bubble of 2008 was $10 trillion.  There's $2 trillion investment gold and $97 trillion investments world wide.  $400 trillion derivatives.

Very easy for crypto currencies to be $1 trillion... it's guaranteed as BTC and alts have many uses.

There's $500 billion in global remittance (foreign workers sending money home).  $1 trillion is spent on tourism and Bitcoin is a convenient way to get around cash limits at the borders and the extortion fees in exchanging.  As for gold - that weighs 25 pounds per $1 million, not something you can "bug out" with.  Whereas anything like Bitcoin or an alternate can be hosted on some cloud service on the internet and no militia or border official can steal it from you.

So what do we do with the unemployed?  Except put them in the army?   

It depends on your country.  I suspect the reason why it happened in Bulgaria was due to its' infant banking laws.  They've only been capitalist for 25 or so years.  I wouldn't be surprised if the Bulgarian Banks had no banking holidays or withdrawal rules.

We remembered what happened when people tried to cause a bank run at the Bank of America during Occupy Wall Street - only took them hours to respond by shutting down banks, blaming 'technical errors', or limiting people to $200 withdrawals and no one revolted or rioted over it.

Bank runs simply don't happen anymore in the west as they've gone to all the lengths to put in limits and the law is on their side (courts rule it's constitutional to have limits since you're not forced to use the banks, they provide that service of keeping your money safe and you sign away your rights in all that paperwork).

You realize NxT has been out for a lot longer?  Used to be 11 cents back in January.

As well the capitalization means little if it isn't backed by an appropriate volume.  NxT has less volume than Doge Coin, Ripple, Vericoin.  There's even plenty of coins with a capitalization under $1 million with more volume than NxT.  That's not counting the times where NxT's volume dries up and declines to a very low $20K to $40K.

It's far from being a new technology.  It's one of those Hitlerian "Wunderwaffe" wonder weapons of the war on terror.  It saves down on manpower but otherwise it's debatable if they're worth the costs.

Yes even before the IT revolution - it was conceivable for the US to had fielded drones even as early as the 1960s, even though it was more economical just to have a scoutsmen with binoculars and a radio to key in coordinates for an artillery strike or aerial bombardment.  

That's the problem with drones is that it doesn't scale in a total war conflict.   The infrastructure to have guys sitting in high tech computer desks joysticking drones is more expensive than a platoons / companies of scouts.  The scouts only need MREs while the drones need maintenance.   As well, unless the scoutsmen is shot, he can't be neutralized by infrared signals or jammers like the one Iran used to capture that US drone a couple years ago




This is often forgotten but the first mass use of a military drone wasn't by the United States but *drum roll* *shock* Iran during the Iran-Iraq war in 1980 (and it was even equipped with missiles).

http://en.wikipedia.org/wiki/Ghods_Mohajer

Greece and those other countries were not made poor by EU.  They had debt crisis going back decades and then adopting the EU meant they couldn't print themselves out of debt.   Would you rather have high unemployment or hyperinflation?  The latter would be more harmful for small economies than say Weimar Germany which was capable of producing its' own consumer goods.

Plus we've known what the traditional strategy was.  The Greeks were probably counting on America, Australia and Canada to accept a million of their unemployed, except to find nobody wants the poor Greeks when you can instead have multi-millionaires from Arabia, China and India.

This is true.  Every coin with powerful whales has an army of shills to back them up.

Not to the Ukrainians who move west.  You make more money as a construction labourer in London than working as a doctor in Ukraine.  There's also far more worker rights in western Europe than in the east.


Though moving to a cesspool like London is equivalent to selling your soul for money.  It's not the 1980s communism anymore, most of Eastern Europe now has contemporary cities with technology and it has a better community than the west.  It's just the wages which suck and/or finding a job.  Otherwise if you have a job it's often a good thing.



http://www.youtube.com/watch?v=1mYqY5YELd0
What Americans think of Eastern Europe

http://www.youtube.com/watch?v=DXgCrhIevwU
The real Eastern Europe

No it's hype buying.

Technically speaking - the more liquidity in Bitcoin the more the price will decline.  Merchants, when they get their hand on BTC, will dump to get $Fiat to pay their overhead, employees and taxation obligations.  Newegg does $25 billion in revenue but only has like $22 million in net income, so any BTC they get they'll be dumping within minutes.

It's no coincidence that after the Silkroad was busted that Bitcoin went way up, as there was no where to spend BTC but demand was persistent so the price went way up.

Is Litecoin in free fall right now? 

Didn't Overstock send the price up by $100 or something?  Newegg news is way bigger