sidhujag
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May 29, 2017, 03:18:16 PM |
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It is more nimble and adaptable to market requirements than gold.
Mob rule to change the traits on the fly is not money, nor are oligarchs colluding behind the scenes to try and impose their will upon you like China miners and Barry Silbert. That's why gold and silver have value, because people like that have no power to screw with it and change it into something else. Yet the government has proven and is able to confiscate it at will and thus has power to screw people over with it. It's a slightly eccentric concept, but you've only described one of the traits that goes along with gold being and existing in an open entropy system. You see, it's not actually required we dig up gold from the ground. Mining gold by attacking each other with shovels is just as viable. It doesn't matter if the entire ground reserve was exhausted, mining still exists in a...different form. If it was not possible for gold to change hands through force after all the ground reserves were gone, then it would be equivalent to Ethereum proof of stake and be just as valueless. It appears you have involuntarily stumbled upon the fact that force is the only valid consensus mechanism in the universe. Gold is simply not fungible because of this. As an investment it sucks because we do not know total supply and as a currency it wont be able to circulate because of capital controls, when they need or want to have control they will do it with gold. It's too heavy and serves no purpose so it was abolished from gold standard when we started to increase debt but also increase productivity. Bitcoin was designed to be anti-capital controls and serves that purpose rather well. You will not have to worry about carrying 100lbs bricks of gold to protect your fortune from force, instead you protect yourself from hackers and other digital attacks which is easier and more efficient.
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OROBTC (OP)
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May 29, 2017, 03:20:02 PM |
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Gold is Wealth for Giants; they do not need to trade it. Latest idea circulating in certain Gold bug scenes is that the Gold price is surpressed so China can obtain enough of it to warrant an equal position at the table when, not if; when the Global monetary system is re-established upon another major financial crisis hitting. I certainly hope so That's exactly what Jim Rickards says, that a global reset is coming and that China wants a seat at the big meeting at the IMF where the major economic powers sit down and come to a consensus re the (IMF's) SDR as the new settlement currency (between nations). Local currencies would still be maintained. Rickards writes that each power will have about the same amount of gold "per capita", which is roughly what we have RIGHT NOW, except for two major economic powers: Japan and China. That is why Rickards believes that China is quietly accumulating gold, so that it would have the roughly 4000 (perhaps more, say 6000) metric tonnes to represent its financial strength (based on national gold reserves). His latest book, The Road to Ruin, describes this pretty well. While extremely connected, Rickards does not offer up PROOF, but the stakes are (would be) very high, so they might very well keep all of this secret. Or try to...
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r0ach
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May 29, 2017, 11:12:43 PM |
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Gold is simply not fungible because of this. Please stop lying. Gold and silver are fungible, bitcoin is not.
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sidhujag
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May 30, 2017, 12:03:40 AM |
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Gold is simply not fungible because of this. Please stop lying. Gold and silver are fungible, bitcoin is not. Not true ive explained to you how gold is not fungible. With CT bitcoin becomes fungible without shuffling services
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r0ach
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May 30, 2017, 12:11:21 AM |
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sidhujag
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May 30, 2017, 12:21:14 AM |
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The bars stored in the basement of the fed are not fungible. The exact deposited bars are withdrawn and thus unlike any other bars. Extrapolate this to all of the bars during repatriation and you will see why gold bars are not fungible.
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r0ach
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May 30, 2017, 12:23:44 AM |
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The bars stored in the basement of the fed are not fungible. The exact deposited bars are withdrawn and thus unlike any other bars. Extrapolate this to all of the bars during repatriation and you will see why gold bars are not fungible.
LOL, yes, it's so unfortunate that gold and silver - which required two neutron stars colliding to create - are not malleable and are instantly destroyed by a puny human attempting to alter their bar state...oh wait.
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sidhujag
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May 30, 2017, 12:42:56 AM |
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The bars stored in the basement of the fed are not fungible. The exact deposited bars are withdrawn and thus unlike any other bars. Extrapolate this to all of the bars during repatriation and you will see why gold bars are not fungible.
LOL, yes, it's so unfortunate that gold and silver - which required two neutron stars colliding to create - are not malleable and are instantly destroyed by a puny human attempting to alter their bar state...oh wait. Yes tell that to the feds and central bankers.. the reason bitcoin was born. Oh wait...
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Risk Mgmt
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May 30, 2017, 02:32:10 AM |
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Can Print paper money Can produce Bitcoins Can't manufacture Gold/Silver
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sidhujag
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May 30, 2017, 02:35:33 AM |
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Can Print paper money Can produce Bitcoins Can't manufacture Gold/Silver
Dont know much supply exists for metals.. astroids might increase supply. Bitcoin has 21 million max
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OROBTC (OP)
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May 30, 2017, 03:25:36 AM |
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Can Print paper money Can produce Bitcoins Can't manufacture Gold/Silver
Dont know much supply exists for metals.. astroids might increase supply. Bitcoin has 21 million max Asteroids may indeed have a lot of precious metals (especially my favorite one: iridium). But the real question is how much it would cost to extract and transport back here to use them. There is no known energy efficient process (not even within an order of magnitude) for producing gold & silver out of anything beyond ores and recycling. Bitcoin has huge risks the further into the future you look. The system might be cracked (note that very little is "impossible", Fermat's Last Theorem was finally solved a few years ago). A better "Alt" may come along. .gov may find a way to block the entrance and exit ramps into the Bitcoin Ecosystem. Other government intervention. Bitcoin Forks......
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sidhujag
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May 30, 2017, 03:37:32 AM |
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Can Print paper money Can produce Bitcoins Can't manufacture Gold/Silver
Dont know much supply exists for metals.. astroids might increase supply. Bitcoin has 21 million max Asteroids may indeed have a lot of precious metals (especially my favorite one: iridium). But the real question is how much it would cost to extract and transport back here to use them. There is no known energy efficient process (not even within an order of magnitude) for producing gold & silver out of anything beyond ores and recycling. Bitcoin has huge risks the further into the future you look. The system might be cracked (note that very little is "impossible", Fermat's Last Theorem was finally solved a few years ago). A better "Alt" may come along. .gov may find a way to block the entrance and exit ramps into the Bitcoin Ecosystem. Other government intervention. Bitcoin Forks......100% agreed, however the thought of further expansion of supply would limit growth for demand. The risk of bitcoin not working (going to zero) is far less than gold shooting moon and not looking back while bitcoin goes to zero. Might be good to hold some allocation in gold but not as much as bitcoin imo at this stage unless your dealing with billions then gold still provides liquidity necessary for that size of a trade.
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chixka000
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May 30, 2017, 03:43:19 AM |
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pinched from the blog : Believe it or not, I was at a family gathering and some were talking about the Triple Crown and said no one has won since 1978. I did the wave math in my head and said this year the horse will win. I do not follow horses. They just looked at me and asked you can forecast that too. I said this is the year. Pharoah won. What was the math? The first wave group was 11, 5 and 2, 1919, 1930, 1935 and 1937 completing 18 years or (17.2). Then there was the typical 3 reaction followed by breaks of increments of 2 completing 11 bringing it 1948. Then we have a 25 year separation until 1973 (25. . Then the next reaction phase of 3 and 2 years bringing us to 1978. So why now? The next build up would be 37.33 (8.6 * 4.3). Hence the pattern 17.2, 25.8, and 37.33. Groups forming in alignment with 8.6. Just a footnote to curiosity. PS: I didn’t bet. It would not be fair to take their money. He completed the calculation and in fact he can take away the money and become richer if he bet with it. However i like it how he thinks that it would be an unethical thing for him to do(which for me is not because he did the calculation and was able to solve it)
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vapourminer
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what is this "brake pedal" you speak of?
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June 01, 2017, 12:38:32 AM |
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found this post from a little birdie:
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sloanf
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June 02, 2017, 05:06:50 PM |
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Martin The Charlatan Armstrong flip-flops again. Just a couple of weeks ago he, in desperation to sell his empty conference, wrote about a big correction in the dow till 2018 (which was in turn another flip-flop from yet another flip-flop etc). Now as everyone sees his usual failure he says the Dow will go up. If you thought he could not fall any lower, guess what? He now openly tells you that he does his bs forecasts by drawing lines on a chart. Whatever happened to his non-existing supercomputer, AI crap and capital flow model which collects data from all over the world in real-time mode?
Again, Martin Armstrong is just an uneducated con artist, bullshitter and a cheap salesman, completely ignorant, delusional and broke. Anyone here still buy his supercomputer-ECM-AI-Socrates-etc bs?
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sidhujag
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June 02, 2017, 06:38:46 PM |
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Martin The Charlatan Armstrong flip-flops again. Just a couple of weeks ago he, in desperation to sell his empty conference, wrote about a big correction in the dow till 2018 (which was in turn another flip-flop from yet another flip-flop etc). Now as everyone sees his usual failure he says the Dow will go up. If you thought he could not fall any lower, guess what? He now openly tells you that he does his bs forecasts by drawing lines on a chart. Whatever happened to his non-existing supercomputer, AI crap and capital flow model which collects data from all over the world in real-time mode?
Again, Martin Armstrong is just an uneducated con artist, bullshitter and a cheap salesman, completely ignorant, delusional and broke. Anyone here still buy his supercomputer-ECM-AI-Socrates-etc bs?
No stop reading his crap
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r0ach
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June 03, 2017, 12:07:44 AM |
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Martin The Charlatan Armstrong flip-flops again.
Just like he will soon flip flop on metals and his claims gold is going "below $1000" LOL: Have no fear, the wedge on real money (silver) is about to break upwards. The banks naked short metals down to barely above cost of production, but it's already so close to cost of production it doesn't really have anywhere to go but up: Of course, anything is possible and they could naked short it some more just for the hell of it, but it would create scarcity from going below cost of production and fuel an even larger rise. So it's a good medium/long term hold no matter what they do.
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r0ach
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June 03, 2017, 12:31:33 AM |
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Cryptocurrency is a giant rat trap designed to ensnare your money and prevent you from being able to access it. Every single one of these exchanges is like this now, and since Bitcoin is not the unit of account of anything, it's value is entirely derived from it's ability to convert to fiat:
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sidhujag
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June 03, 2017, 01:25:17 AM |
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Cryptocurrency is a giant rat trap designed to ensnare your money and prevent you from being able to access it. Every single one of these exchanges is like this now, and since Bitcoin is not the unit of account of anything, it's value is entirely derived from it's ability to convert to fiat: Except when dexs come your entire argument defeated
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OROBTC (OP)
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June 03, 2017, 04:37:43 AM |
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Cryptocurrency is a giant rat trap designed to ensnare your money and prevent you from being able to access it. Every single one of these exchanges is like this now, and since Bitcoin is not the unit of account of anything, it's value is entirely derived from it's ability to convert to fiat: There are a number of risks in Bitcoin, many of which I do not understand, and likely other risks that NO ONE understands. The exchanges seem to be a huge risk. I hold just enough in my blockchain.info wallet for trx (like occasional Au and Pt purchases), but the rest in hardware wallets. Even there, there are risks. Gold is simple. It just sits there, it endures (does not corrode). It even likes the dark hidey-holes... And, there is always someone around who will take your gold as payment. You may have to look a bit, but anywhere you go, someone will accept your gold. I look at BTC as a great speculation. So far, so good. If it goes to, say, $3500 (who knows?), then I'll cash more in for gold. $5000? Cash in some more.
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