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1461
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Economy / Economics / Re: who here is using bitcoin as a hedge?
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on: October 14, 2016, 07:28:49 PM
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ECB, I use Bitcoin as an "alternative asset", a diversification. In a sense that would be a hedge. Semantics...
The US$ is very strong now (I'm American). I look upon BTC (and gold) as two other ways to diversify out of the dollar as well as stocks, bonds and real estate.
BTC and gold both have enough differing characteristics so that I see them as diversification. I really like the borderless appeal of BTC, although few countries I visit have much going on re Bitcoin.
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1462
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Economy / Economics / Re: Why are Venezuelan not switching to Bitcoin?
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on: October 14, 2016, 07:19:22 PM
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Seems I need to correct my assumption. According to an article on NewsBTC, hyperinflation leads to an increased Bitcoin usage in Venezuela. Hyperinflation Leads to Greater Bitcoin Use in Venezuela
Recently, we reported on bitcoin activity in Russia. Now common knowledge, bitcoin usage has long been demoralized in the land of hammers and sickles. Those who indulge in the benefits of digital currency are faced with the prospects of prison time and exorbitant fees.Full articletyz The pattern I am beginning to see is that there is a fairly good (but not easy to quantify) correlation between lower economic free and greater use of Bitcoin within a country. For years Argentina was somewhat noteworthy for rather high BTC use (I knew two Argentines who were into it), though I do not know what the current status of BTC there under the new government. Both Russia and Venezuela are great candidates for high BTC usage, whether or not their .govs approve. * * * Maybe "third world country" is a matter of how it is defined... My two business trips (some 17 years ago) to Venezuela made me think that it was much closer to Peru than to the USA. All the barrios up on the surrounding hills and the high crime rate (even then, pre-Chavez) made me think "Third World". |
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1463
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Economy / Economics / Re: Economic Totalitarianism
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on: October 14, 2016, 07:09:16 PM
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iamnotback
You and others have long suffered reading that Bearing Guy OROBTC loves diversification. As long as it appears that Bitcoin is free of "taint of .gov" than that BTC is indeed a great asset holding.
I do not have the time & inclination (nor even the proper skills) to go deep into the rabbit holes to determine truth of this or that. So, until further notice, BTC is a good place for me to be. Especially with, as you point out, with the odious FATCA laws. At some point, even without the USA cratering, many other countries will reject FATCA at least in part if they would welcome US investment. Unfortunately Peru may not particularly be a good candidate, as their taxation authorities have imposed hard to avoid taxation policies (via computers and the 'Net).
Without Trump to bring America back, there are very other few places to hide.
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1465
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Economy / Economics / Re: Martin Armstrong Discussion
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on: October 13, 2016, 05:47:15 AM
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THX 1138
Naah! All of this loose talk about "successfully" attacking Russia itself is complete ignorance, I would not even dignify it by calling it lunacy.
There is no way any (ANY) sane military officer would obey orders like that. Same comment re the arguably misnamed Intelligence Community. Such a war, obviously, would be unwinnable. Besides, many observers would conclude that the USA would lose...
Attacking the Russian homeland is one nightmare that will not happen.
* * *
I am not upbeat about other possibilities though (US - Russia skirmishes over Syria for example). A few of those, however, might demonstrate who has the superior weaponry and training, so something along those lines is possible. As would be similar hostile probing by/against China.
Limited wars like the above are possible, especially if Hillary is elected. These would be expensive in lives and treasure, and could lead to ugly escalation...
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1466
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Economy / Economics / Re: An Honest Introduction to Money
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on: October 13, 2016, 05:37:57 AM
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Maybe for the bitcoin, it is not so complicated. You can just buy the bitcon at low price and hold for long term.
I tend to agree with this conclusion. Bitcoin is a non-state-issued asset. These assets generally compete with state-issued money and associated assets, so the elites generally suppress their values. (The classic example being the gold and silver standards which gave holding the metals a return of zero while the central bank could keep the system stable. Today gold and silver are being pushed down by strange derivative trades that seem not worried about losing money but determined to see gold/silver prices go down.) That said, the elites know that they may need to peg their money against a non-state-issued money to stabilize their own issue, when things go really badly for them. This is why they don't want to destroy non-state assets totally, even when they can. Compared to gold and silver, faith in Bitcoin is relatively weak among holders of non-state assets, so I believe the elites tend to want to help it gain acceptance and confidence, at this stage of its life. I'd like to start a thread for this topic, but there's a difference between the 1860s and today -- back then, the elites wanted to promote gold as the single non-state asset, and to minimize faith in silver. This was only because of the condition of the British Empire, the leader of the world system back then. Today, I believe it is actually in the elites' interest to be inclusive. The more non-state assets out there that are trusted by the public, the stronger the total backing when they need it, and at a lower price point in state currency. That may explain why silver has (partially) come back to life from a couple dollars per ounce, and why Bitcoin has a stable and slowly rising value. Over the longer horizon, I still believe gold is a better bet than Bitcoin. Since Indians hoard gold, and India is slated to be the next global empire (not China which is less friendly to the existing system,) gold should profit from more scenarios than silver or Bitcoin. My advice would be: hold all three, and diversify among them, in proportions that feel comfortable to your view of how the world will evolve.That is a very interesting commentary, BobK71. Especially the part I highlighted. I have read other analyses that also argue that smart states would encourage people to own gold (but that would include other assets that would count as "capital") for when the time comes to rebuild the country.Rumor has it that within the Deep State there are some smart people with the USA's longer-term interest at heart. It's not ALL "House of Cards" (although a lot is). I worked for a while within a very deep part of The State, and although it was long ago, some of these are very traditional and durable attitudes. The fact that there are SOME in .gov who are somewhat benevolent and smart is a little reassuring. My judgement is that most of The Elites are pretty bad, but there are pockets of old-style patriotic hard-asses to be found here and there. And it looks like some of the smartest are perfectly OK with citizens owning assets as savings...* * * Agree 100% re holding percentages of one's assets in gold, silver (or platinum) and BTC as personal circumstances permit. |
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1467
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Economy / Economics / Re: Martin Armstrong Discussion
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on: October 12, 2016, 04:11:09 PM
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Act 3. Smile.
I will mention that Matthew 5 - 7 is my favorite part of The Bible. So much in there, for those with little knowledge, so much there for those more advanced than I.
I wasn't quite referring to Acts, but rather, the archetypical "third act" of stories in general. I figured that. Act 3 (in Shakespeare) is usually the "Middle Act". The third of five. There are other ways of looking at "Act 3". It is possible that we are only in "Act 3" of our election here! Now thinking about that is probably worth a smile too...  Act 5 will be of great interest. A big climax to the end of THIS tragedy/comedy! |
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1468
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Economy / Economics / Re: Economic Totalitarianism
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on: October 12, 2016, 04:07:29 PM
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If Trump wins, iamnotback, he would likely understand the value of GENIUS. He would also likely be quite favorable to productive people coming back to the USA.
He would welcome you home.
Hillary? You are for sure on a List of hers. As am I. But, we are not prepared to move to Peru just yet. It would take one HELL of a bad presidency under Hyena Rodent Klinton to push us out. But it could happen. My wife and I are already dusting off our draft of "Plan B" just in case.
Of course it would be my great preference that "CC-Resurgam" (if Trump wins) leave the USA rather than my "estrellita" and me (under Hillary).
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1469
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Economy / Economics / Re: Martin Armstrong Discussion
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on: October 12, 2016, 03:57:41 PM
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CC-Resurgam & iamnotback
It is impossible for me to see that Trump is a horrible human being compared to Hillary and/or Bill Clinton. OK, perhaps I would not want Trump as a boss (but I have also heard that he is a great boss).
Hillary defended Tom Taylor in 1975 (and got him off, then LAUGHED about it) after he raped then 12 year-old Kathy Shelton. The child was permanently scarred with injuries from the rape, and has never been able to have children. Perhaps CC-Resurgam has no children? Probably has no daughter (we are the proud parents of one).
The Clinton have committed numerous crimes and are the sleaziest ones to ever run for US president.
CC-Resurgam. If Trump does win, please advise us when you will be joining the others who promise to leave the (some of them are saying Cape Breton Island off of Canada is where they will go). And then please say "Au Revoir" on your way out. Thank you.
* * *
Act 3. Smile.
I will mention that Matthew 5 - 7 is my favorite part of The Bible. So much in there, for those with little knowledge, so much there for those more advanced than I.
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1470
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Economy / Economics / Re: Japan Relents, Will Kill Sales Tax on Bitcoin Buying
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on: October 12, 2016, 03:47:23 PM
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... Bitcoin's advance (I am not talking BTC price), in the three-odd years I have been involved, has been slow on average (that is, adoption by merchants and users), but the trend does seem to be there. Probably an inevitable trend (barring a BTC disaster). The progress is incremental, IMO slower than I would like, but real. It was, after all, providentmetals.com which first confirmed to me the real potential of Bitcoin. Bill Gross just came on board a few days ago. Japan has now acted, but IMO this is another small step. Inexorable? But it's all good. When I jumped as a rank beginner with relatively few technical skills, I thought BTC was at the point of a moonshot, ready to take on the world imminently. A slow, probably hard to stop, and perhaps bumpy future looks to be the way CRYPTO will grow. Perhaps we need one more year, or perhaps that ETF I hear about will be the spark to put Bitcoin adoption into 2nd Gear... |
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1472
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Economy / Service Discussion / Re: Which site is the most/more accurate at showing current crypto value?
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on: October 12, 2016, 03:23:14 AM
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... ALL the sites show pretty similar pricing, sure they vary a bit, but not much. Funny thing though, whenever I BUY Bitcoin (at a BTC ATM, for example) the price is always a little higher. ANd many of the times I have bought gold (w/ BTC), the price of the BTC is lower. I like ounce.me. It shows BTC (also LTC & Ether) along with gold, silver, platinum, palladium, crude oil and the US$! |
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1473
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Economy / Economics / Re: Increased Economic Protectionism: Threat or Opportunity for Bitcoin?
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on: October 12, 2016, 03:16:13 AM
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Economic Protectionism is not a threat, certainly not for cryptocurrency. I am sure that at some point it will backfire and then everyone will turn their heads towards bitcoin.
We already see how negative interest rates is a threat banking systems in Japan and in Europe it is a dead end.
They won't induce growth, but will divert attention from reforms and as result current economic system will destabilize itself even further.
A diversion, yes that's right. Divert their attention: "Look over there, a squirrel!" And hide their machinations from the masses. BTC still has a price that is too volatile to serve as a reliable Store of Value now. Perhaps when there are some real losses (real estate or stock market crashes), then BTC will get more attention. And do not overlook that border-less world of Bitcoin either. Economic Protectionism usually signifies that things are very bad, the boot then comes down... BTC would be a way out. |
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1474
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Other / Beginners & Help / Re: Need a Mentor
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on: October 11, 2016, 10:12:56 PM
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Honestly you dont need any mentor here just go in beginners help and you found many useful thread here dont forget to use our search button above. no one you can be mentor here unless if you are lcuky someone can give free service to you.
^^^ I was almost completely Bitcoin naive when I showed up both here (and a month or so earlier when I started experimenting with it). If I can "learn by doing", and asking the Community here for help, you'll be able to do so as well. Jump in! The water's fine! * * * But, do note pawel7777! There are scams around! I was scammed by a clever blockchain.info scam, but I was not careful. Be careful! |
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1476
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Economy / Economics / Re: Is gold better than Bitcoin?
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on: October 11, 2016, 09:50:27 PM
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If you compare the profits that you can make from both of them in long run then I think bitcoin holds upper hand over gold as bitcoin price can go beyond our imagination in future but gold won't exceed after a certain level.
yeah of course, to issue profit I would be in favor of bitcoin, because with very little capital even if you can invest in bitcoin and you are most likely to benefit greatly in a short time anyway Well, all you need is some $150 (maybe less) to buy a 1/10th oz American Gold Eagle. Bitcoin is a better speculation ("greater alpha"). Gold is better for preserving wealth ("Store of Value"). Since they have SOME differing characteristics, owning both is good diversification. * * * A machine gun would count as good diversification too... |
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1477
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Economy / Economics / Re: Economic Totalitarianism
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on: October 11, 2016, 09:43:03 PM
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I am listening to Hannity right now (Guilty!). He is speaking with the RAPE victim (Kathy Shelton, 12 years old at the time) of Tom Taylor (the guy Hillary got off in 1975 for CHILD RAPE), the poor woman could never have children, ever, after the rape.
Perhaps a warlike Trump will finally put to rest the rumors of him being a shill for Hillary. I saw an excerpt of his speech last night from PA saying that if they want to play dirty (release more sleaze on Trump), well, then he will too. There is so much ammo on the Clintons.
America is doomed if we (they) vote her in... We may be doomed with Trump too, but we will get it faster and harder with Hillary. Think the Supreme Court (Second Amendment, etc.).
If Hillary wins, and if you leave The Philippines (iamnotback), you may not like what you see here............ Singapore maybe?
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1478
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Economy / Economics / Re: Bill Gross, bond guru #1 advises to buy Bitcoin
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on: October 11, 2016, 09:33:01 PM
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It's an interesting one. So many established names who've said positive things about Bitcoin are heavily into metals, yet your average metal buyer is often more sceptical about Bitcoin than a high street moron. They're too busy polishing it and dreaming of trading a shiny lump for a fully functioning female after society falls. They may be disappointed.
We metal-heads will be fine. But your point is good. A new and hard-to-grok thing like Bitcoin will take time to be accepted and used by the masses. Keep in mind that even BTC Wankers (I cannot write ANY kind of a computer program right now) like me are in the "One Percent" beyond doubt. 1% (and that is a way-high estimate) use BTC... It looks like BTC will indeed grow as more discover it and use it. But, I think it's going to take a long time before Bitcoin becomes anything influential. |
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1479
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Economy / Economics / Re: Martin Armstrong Discussion
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on: October 11, 2016, 09:26:55 PM
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I do not trust Putin as far as I could throw him were I Superman... Nonetheless, the careless rhetoric and near-warlike actions (of the USA and now the UK) are of concern. Trump would not act like that. He'd cut a deal and expect both sides to respect it (what a concept). To be fair, Hillary would not seek war with Russia and/or China. That would be clearly insane. The generals would not stand for it. Not even the American people would stand for it. NO ONE I know has any problems with Russia. Putin may be bad, but that is not our (USA's) problem. It's curious how the UK (and now France) are ratcheting up the hostile rhetoric... I don't know what to make of it. |
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1480
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Economy / Economics / Re: Bill Gross, bond guru #1 advises to buy Bitcoin
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on: October 11, 2016, 04:53:04 PM
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...
And if Bitcoin goes back up over $700 each, Bill Gross looks like even more the genius!
I wonder how much he knows about BTC. If he knows a lot, then his advice to buy BTC is a major signal. He has a lot of money and a lot of street cred in the investment community.
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