Martin Armstrong Discussion

[hdbuck]

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

Meh, whatever, it is an "Engineering Requirement that Bitcoin be Above the Law".

Cheap coinz incoming tho

[macsga]

We seem to have bigger problems now:

1. http://www.bbc.com/news/live/world-middle-east-34908469
2. https://www.facebook.com/United.Syrian.Republic/videos/1730624370505056/?fref=nf

WWIII?

[altcoinUK]

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

Meh, whatever, it is an "Engineering Requirement that Bitcoin be Above the Law".

Cheap coinz incoming tho

All western parliaments will vote yes for implementing laws and legislations to criminalize digital currencies.  As the Skycoin developer (see his posts in the Skycoin thread, he sounds and intellectually at sort of the same level like the one and only TPTB btw) and of course Armstrong argue that it will be simply criminal act to use such systems, and therefore people - the current few hundred thousands BTC users - just stop using it.

EDIT:
The crackdown is not a big deal actually. After 5 years of endless and intense media hype, Economists, Times, etc. cover pages and hundreds of million dollars venture capitalist investment into the BTC ecosystem, there are no more than few hundred thousands active Bitcoin users. A well managed and marketed social media, never mind adult video site could attract several million users within a less shorter period.

[hdbuck]

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

Meh, whatever, it is an "Engineering Requirement that Bitcoin be Above the Law".

Cheap coinz incoming tho

All western parliaments will vote yes for implementing laws and legislations to criminalize digital currencies.  As the Skycoin developer (see his posts in the Skycoin thread, he sounds and intellectually at sort of the same level like the one and only TPTB btw) and of course Armstrong argue that it will be simply criminal act to use such systems, and therefore people - the current few hundred thousands BTC users - just stop using it.

it is not about "using" bitcoin for visa transactions and IoT BS, but rather about saving/hedging/hiding from TPTB, its financial crisis and the upcoming bails in.

i use bitcoin just because i control my private keys. and imho the rest is irrelevant.

[bigtimespaghetti]

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

Governments may not like it (right now) or act like it, but crypto in it's current form is still a banker's wet dream. There are plenty of finTech startups leveraging blockchain or crypto tech. One even headed by Blythe Masters. Banks are not scared of Bitcoin (even a UK Treasury study noted it was an extremely low money laundering/crime risk). The banks will help government claw their pounds of flesh from the populace with their own brand of crytpo.

[altcoinUK]

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

Meh, whatever, it is an "Engineering Requirement that Bitcoin be Above the Law".

Cheap coinz incoming tho

All western parliaments will vote yes for implementing laws and legislations to criminalize digital currencies.  As the Skycoin developer (see his posts in the Skycoin thread, he sounds and intellectually at sort of the same level like the one and only TPTB btw) and of course Armstrong argue that it will be simply criminal act to use such systems, and therefore people - the current few hundred thousands BTC users - just stop using it.

it is not about "using" bitcoin for visa transactions and IoT BS, but rather about saving/hedging/hiding from TPTB, its financial crisis and the upcoming bails in.

i use bitcoin just because i control my private keys. and imho the rest is irrelevant.

I am not sure how the "rest", i.e. that governments simply criminalize digital currencies is irrelevant.
Armstrong is a wise man. He understands that once laws state that using Bitcoin is illegal and law enforcements start moving against Bitcoin then that will be the end of BTC. Unfortunately, TPTB can make anything illegal and they are so desperate that they will be doing everything to keep the status quo.

[altcoinUK]

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

Governments may not like it (right now) or act like it, but crypto in it's current form is still a banker's wet dream. There are plenty of finTech startups leveraging blockchain or crypto tech. One even headed by Blythe Masters. Banks are not scared of Bitcoin (even a UK Treasury study noted it was an extremely low money laundering/crime risk). The banks will help government claw their pounds of flesh from the populace with their own brand of crytpo.

There are differences between using blockchain technology and liking Bitcoin. Yes, banks recognize how genius Satoshi's innovation the blockchain is, yes the banks are implementing systems based on the blockchain technology and yes, no doubt the blockchain technology will be used by businesses. However, they must comply with laws and regulations - law enforcements will crackdown non compliant systems.

The banks will enable centralization on the blockchain by providing law enforcements with interfaces and access to the audit records, in fact to all payment records. Such compliance will include providing access to cryptography primitives, including having a centralized master key or any other form to decrypt the communication (see the latest UK legislation).  Barclays, RBS, HSBC etc will simply comply - no other way they can do business.

[hdbuck]

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

Meh, whatever, it is an "Engineering Requirement that Bitcoin be Above the Law".

Cheap coinz incoming tho

All western parliaments will vote yes for implementing laws and legislations to criminalize digital currencies.  As the Skycoin developer (see his posts in the Skycoin thread, he sounds and intellectually at sort of the same level like the one and only TPTB btw) and of course Armstrong argue that it will be simply criminal act to use such systems, and therefore people - the current few hundred thousands BTC users - just stop using it.

it is not about "using" bitcoin for visa transactions and IoT BS, but rather about saving/hedging/hiding from TPTB, its financial crisis and the upcoming bails in.

i use bitcoin just because i control my private keys. and imho the rest is irrelevant.

I am not sure how the "rest", i.e. that governments simply criminalize digital currencies is irrelevant.
Armstrong is a wise man. He understands that once laws state that using Bitcoin is illegal and law enforcements start moving against Bitcoin then that will be the end of BTC. Unfortunately, TPTB can make anything illegal and they are so desperate that they will be doing everything to keep the status quo.

Heh if anything, the govs and their illegalizing everything generally makes the forbidden asset worth moar..

[conspirosphere.tk]

Armstrong argue that it will be simply criminal act to use such systems, and therefore people - the current few hundred thousands BTC users - just stop using it.

yeah, because prohibition works. You can bring that to the bank.

[sidhujag]

THe market is the market is the market.. the most efficient and best money will win sooner or later. Suppression can only prolong the inevitable wether it be in our lifetimes or the next, ideal money will always win. Just so happens that it wasnt possible before and it is now because we have the technology to get there. That's all it is the realization of the possibility to start the wheel which can't stop rolling.

[altcoinUK]

THe market is the market is the market.. the most efficient and best money will win sooner or later. Suppression can only prolong the inevitable wether it be in our lifetimes or the next, ideal money will always win. Just so happens that it wasnt possible before and it is now because we have the technology to get there. That's all it is the realization of the possibility to start the wheel which can't stop rolling.

Essentially I agree. I believe the society in long term is getting better, and I agree that decentralized digital currency will eventually overtake conventional money. What I am saying by agreeing with Armstrong is that in short term governments and law enforcements will stop the spreading of the digital currency idea by criminalizing it. I am not sure for how long TPTB can stop the spreading of this idea, perhaps 5, perhaps 10, perhaps 20 years, but they surely will keep the vast majority of population (99.9%) away from decentralized digital currency by making it illegal. As it will be illegal, 99.9% of the society simply won't touch digital currency. That's how society functions. We crypto currency enthusiasts or at least some of us will resist and still using it, so the concept and the technology will survive and then the next generation or the following will finally implement it.

As Armstrong points out, the ruling class and government will be desperate for collecting more tax money. To collect more tax and to expose more power on the society they will try to do everything. Eventually they will fail, but the desperation for the tax money and power will take for a while. 

[hdbuck]

THe market is the market is the market.. the most efficient and best money will win sooner or later. Suppression can only prolong the inevitable wether it be in our lifetimes or the next, ideal money will always win. Just so happens that it wasnt possible before and it is now because we have the technology to get there. That's all it is the realization of the possibility to start the wheel which can't stop rolling.

Essentially I agree. I believe the society in long term is getting better, and I agree that decentralized digital currency will eventually overtake conventional money. What I am saying by agreeing with Armstrong is that in short term governments and law enforcements will stop the spreading of the digital currency idea by criminalizing it. I am not sure for how long TPTB can stop the spreading of this idea, perhaps 5, perhaps 10, perhaps 20 years, but they surely will keep the vast majority of population (99.9%) away from decentralized digital currency by making it illegal. As it will be illegal, 99.9% of the society simply won't touch digital currency. That's how society functions. We crypto currency enthusiasts or at least some of us will resist and still using it, so the concept and the technology will survive and then the next generation or the following will finally implement it.

As Armstrong points out, the ruling class and government will be desperate for collecting more tax money. To collect more tax and to expose more power on the society they will try to do everything. Eventually they will fail, but the desperation for the tax money and power will take for a while.  

fuck the market, the game is rigged.

bitcoin is so much more than just a "currency".

it's digital gold.

in vires numeris bitches.

[sidhujag]

THe market is the market is the market.. the most efficient and best money will win sooner or later. Suppression can only prolong the inevitable wether it be in our lifetimes or the next, ideal money will always win. Just so happens that it wasnt possible before and it is now because we have the technology to get there. That's all it is the realization of the possibility to start the wheel which can't stop rolling.

Essentially I agree. I believe the society in long term is getting better, and I agree that decentralized digital currency will eventually overtake conventional money. What I am saying by agreeing with Armstrong is that in short term governments and law enforcements will stop the spreading of the digital currency idea by criminalizing it. I am not sure for how long TPTB can stop the spreading of this idea, perhaps 5, perhaps 10, perhaps 20 years, but they surely will keep the vast majority of population (99.9%) away from decentralized digital currency by making it illegal. As it will be illegal, 99.9% of the society simply won't touch digital currency. That's how society functions. We crypto currency enthusiasts or at least some of us will resist and still using it, so the concept and the technology will survive and then the next generation or the following will finally implement it.

As Armstrong points out, the ruling class and government will be desperate for collecting more tax money. To collect more tax and to expose more power on the society they will try to do everything. Eventually they will fail, but the desperation for the tax money and power will take for a while.  

fuck the market, the game is rigged.

bitcoin is so much more than just a "currency".

it's digital gold.

in vires numeris bitches.

All manipulated markets eventually fail, the ones that don't stand a longer chance of survival

[trollercoaster]

3 days away from summer..MUH GLOBAL WARMING.

http://themercury.com.au/news/tasmania/worst-is-over-after-cold-snap-brings-wild-wind-and-snow/story-fnj4f7k1-1227624129518

[suda123]

Wait guys whats the correlation of stocks going down and bitcoin going up, no one can explain why it went down but china.

 Probably nothing but possible China happening Anonymous (ID: 7yYDr4qC)  11/27/15(Fri)16:13:11 No.56852198▶>>56852473 >>56852756
https://www.google.com/finance?cid=7521596
Down -4.30%

[tabnloz]

Russia, as Turkey's 2nd biggest trading partner, will implement sanctions on employing Turkish workers, effective Jan 1. ZH estimates this could lead to 90k job losses. Perhaps relatively small, but with an already troubled economy (see Armstrongs' post on subject) and possible further repercussions, could this be a tipping point, with Turkey being the first govt domino to fall?

[sidhujag]

Any idea why Canadian REI is going through the roof again? another 30-40% increase this last year and 15% last month alone... Part of the decision to sell my home this past month was his strong claim that REI had peaked and a super bubble was to be popped, makes so much sense but instead we have the makings of a new bubble in the market fueled by low rates and affordable mortgages at these rates. By my calculation prices could double here before we get back to the levels we were in 2008 assuming rates stay put. So instead of peaking in october I'm seeing a new super bubble forming and even seasonal bearish trends in REI hasn't had the desired affect in slowing the market down.

Chinese/Indian money still pouring in, although Chinese black markets are being shutdown so I'm not sure what's fueling it so much other than affordability. Now I'm thinking of building another home to take advantage of the bubble relatively soon, but I want to know Armstrong's thoughts since he timed it to peak although I'm seeing the opposite.

[marcus_of_augustus]

Any idea why Canadian REI is going through the roof again? another 30-40% increase this last year and 15% last month alone... Part of the decision to sell my home this past month was his strong claim that REI had peaked and a super bubble was to be popped, makes so much sense but instead we have the makings of a new bubble in the market fueled by low rates and affordable mortgages at these rates. By my calculation prices could double here before we get back to the levels we were in 2008 assuming rates stay put. So instead of peaking in october I'm seeing a new super bubble forming and even seasonal bearish trends in REI hasn't had the desired affect in slowing the market down.

Chinese/Indian money still pouring in, although Chinese black markets are being shutdown so I'm not sure what's fueling it so much other than affordability. Now I'm thinking of building another home to take advantage of the bubble relatively soon, but I want to know Armstrong's thoughts since he timed it to peak although I'm seeing the opposite.

asset price inflation, REI is being monetised because fiat savings are being debased by State monetary meddling.

[suda123]

What are the implications of carbon tax if it passes? especially toward BTC

[marcus_of_augustus]

What are the implications of carbon tax if it passes? especially toward BTC

increased tax evasion ... what a ridiculous thing to tax, a base element .. what next a hydrogen tax? or how about an argon tax?