realr0ach
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December 29, 2017, 10:40:46 PM Last edit: December 29, 2017, 10:53:53 PM by realr0ach |
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Anonymint, your claim that you're front running the govt by buying bitcoin is probably way the hell off: Can anyone spot the govt plan yet? Let morons hype craptocurrencies and use that as cover for the banks to pump Ripple. Next step will be govts banning all anon and pseudo-anon craptocurrency until only permissioned ledgers like Ripple exist then force everyone onto them. Bitcoin holders will see a WSJ headline sometime stating bitcoin banned and then the price plunges to nothing, OR the bankers will create an MIT chain anchor fork of bitcoin and say you're required to transact on that chain if you want to use it. Either way, both speculators and people who make believe craptocurrency is a store of value will be forced onto jewish banker controlled chains. There is absolutely zero retail demand for "Ripple". No random joes off the street are opening Coinbase accounts to buy Ripple. The Ripple rise is entirely central banker orchestrated and they've probably been doing the same with bitcoin. All of these garbage craptocurrencies are completely centralized anyway, so they have no purpose or fundamentals. The only decentralized currencies on this planet are physical silver and gold. EVERYTHING digital is a scam. The only place "wealth" exists is in the physical world, it cannot be stored in 0's and 1's or in your imagination. Anything digital will always be an IOU that you hope someone will make good on. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi67.tinypic.com%2Fjsczlf.jpg&t=665&c=sdu_hERL6dlGGA) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi67.tinypic.com%2Fdmqrsp.jpg&t=665&c=LEmFBCaDPlHReA)
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realr0ach
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January 01, 2018, 05:10:34 AM |
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More of why Lightning network is going to be a scam: Do you actually know what LN is? I'll tell you what it is. LN is nothing more than establishing bitcoin banks on top of the blockchain. All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system. The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.
The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them. This is how crony capitalism works. You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.
Nevermind the fact LN doesn't function in a decentralized manner in the first place. There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers. There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.
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sidhujag
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January 01, 2018, 05:15:35 AM |
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More of why Lightning network is going to be a scam: Do you actually know what LN is? I'll tell you what it is. LN is nothing more than establishing bitcoin banks on top of the blockchain. All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system. The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.
The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them. This is how crony capitalism works. You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.
Nevermind the fact LN doesn't function in a decentralized manner in the first place. There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers. There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.
A pow adjucator with pos bonded validator consensus system can serve the basis for such things like LN. Bitcoin will remain a settlement store of value.. its unlike anything that had ever existed.. like gold but better transfer utility.
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realr0ach
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January 01, 2018, 05:40:38 AM Last edit: January 01, 2018, 05:54:30 AM by realr0ach |
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More of why Lightning network is going to be a scam: Do you actually know what LN is? I'll tell you what it is. LN is nothing more than establishing bitcoin banks on top of the blockchain. All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system. The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.
The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them. This is how crony capitalism works. You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.
Nevermind the fact LN doesn't function in a decentralized manner in the first place. There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers. There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.
A pow adjucator with pos bonded validator consensus system can serve the basis for such things like LN. You just typed what I said in July 2016. The way I was talking about doing it requires you to convert bitcoin into two different coins. The coin you mine would not actually be a currency, it would just determine who the block validators are. You then use proof of burn to burn those non-currency mined coins to become a block validator. The block validators would be a fixed number like DPOS, and bitcoin would rest on top of that system essentially the equivalent of a user created asset in Bitshares. It only works when BTC distribution is over or if you cut off mining distribution prematurely. There are a lot of different problems to work out with such a system and I didn't explain it all too well, but there it is. As you can see, my idea to use proof of burn is REQUIRED to enforce any type of decentralization in bitcoin because it prohibits big miners from having permanent monopoly: https://bitcointalk.org/index.php?topic=1550027.0
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sidhujag
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January 01, 2018, 03:06:41 PM |
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More of why Lightning network is going to be a scam: Do you actually know what LN is? I'll tell you what it is. LN is nothing more than establishing bitcoin banks on top of the blockchain. All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system. The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.
The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them. This is how crony capitalism works. You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.
Nevermind the fact LN doesn't function in a decentralized manner in the first place. There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers. There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.
A pow adjucator with pos bonded validator consensus system can serve the basis for such things like LN. You just typed what I said in July 2016. The way I was talking about doing it requires you to convert bitcoin into two different coins. The coin you mine would not actually be a currency, it would just determine who the block validators are. You then use proof of burn to burn those non-currency mined coins to become a block validator. The block validators would be a fixed number like DPOS, and bitcoin would rest on top of that system essentially the equivalent of a user created asset in Bitshares. It only works when BTC distribution is over or if you cut off mining distribution prematurely. There are a lot of different problems to work out with such a system and I didn't explain it all too well, but there it is. As you can see, my idea to use proof of burn is REQUIRED to enforce any type of decentralization in bitcoin because it prohibits big miners from having permanent monopoly: https://bitcointalk.org/index.php?topic=1550027.0You probably dont want to burn but instead incentivize bonding instead. You also dont want a set number but open it up to anyone who can post required bond. The pow layer has fraud proofs to ban validators if needed. You dont need 2 currencies just 1 with a sidechain. https://medium.com/@BlockchainFoundry/core-research-and-development-update-503e450b380cNot everything will be the same but something like that ^^..its on my roadmap for ultimately what Syscoin becomes. Theres non pow yet deterministic and bft consensus mechanisms you can throw in the L2 for the block creation on that side. Pow chain is still needed and wanted. Merge mined with btc.
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CRED.me
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January 02, 2018, 03:55:29 AM |
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@sidhujag, as usual, your technical ideas have multiple issues and failure modes. @realRoach you already know your idea had insoluble centralization issues which is why you stopped pursuing it.
This is an ANN post for my decentralized ledger (not a "block" chain!) project.
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sidhujag
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January 02, 2018, 04:14:58 AM |
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@sidhujag, as usual, your technical ideas have multiple issues and failure modes. @realRoach you already know your idea had insoluble centralization issues which is why you stopped pursuing it.
This is an ANN post for my decentralized ledger (not a "block" chain!) project.
Looking fwd to when you finally release so we can critic it. Im sure it will have holes.
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realr0ach
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January 02, 2018, 04:16:48 AM Last edit: January 02, 2018, 04:38:20 AM by realr0ach |
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Sidhujag, PoW fails for numerous reasons even IF mining didn't centralize, namely that PoW does absolutely nothing to solve rough consensus attacks: What most forget is Bitcoin is programmable. There's no reason it can't adopt any new great discovery with enough consensus of the people that use it. That's one of the things that makes Bitcoin great. A bar of gold isn't going to change into something more usable ever.
Add this quote to the stack of bugmen who are clueless about money. No, it's not a good thing bitcoin is "programmable" and that you think it can morph into something else at any second. That just means it's not fungible and will never be money. Money is not supposed to be unpredictable and constantly changing, it's supposed to be boring and unchanging to provide some type of economic foundation. You seem to think you can build an economic foundation with the equivalent of quicksand. Alterations to the protocol - as we ALL KNOW by now - will never be unanimous, so even attempting to change it is stupid if you just get ten new bitcoin forks every year. Since it's inevitable the coin will fork an enormous number of times, and PoW does absolutely nothing to stop or converge rough consensus attacks (aka forks or altcoins), it doesn't even have scarcity in the first place. There's also the fact that a fee market doesn't work without artificial scarcity of block size, so the thing requires central bankers to act as a technocratic dictatorship and pull levers up and down behind the scenes. Yes, bitcoin has central bankers you idiots. Since there is no consensus on what the so-called "real" or "fake" bitcoin fork is - because PoW does nothing to prevent rough consensus attacks as I said before - there is also no Schelling point for bitcoin unlike gold and silver. You can't "fork" gold and silver. Also, since bitcoin requires central bankers and an artificially capped block size, it means an environment of usury fees that will just drive people to other coins, doubling down on destroying any possible Schelling point further. Instead of a Schelling point, bitcoin actually has an INVERSE Schelling point due to these two issues. Everything about cryptocurrency is truely shit compared to real money like silver and gold. So you ask, if bitcoin isn't even money, then what the fuck is it? It's a Rube Goldberg machine you idiots.
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realr0ach
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January 02, 2018, 04:30:59 AM |
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Why the dev abandoned the bitcoin:
"I made some games, but I'm pretending like I didn't because they all turned out weird."
- Shigeru Miyamoto, co-director Nintendo
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realr0ach
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January 02, 2018, 05:20:45 AM |
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sidhujag
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January 02, 2018, 07:27:52 AM |
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Watch for a stock market tumble near q3 q4 this yr. Crypto may benefit.
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realr0ach
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January 02, 2018, 08:46:34 AM Last edit: January 02, 2018, 09:26:19 AM by realr0ach |
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Watch for a stock market tumble near q3 q4 this yr. Crypto may benefit.
Wagering on a stock collapse is too risky when they're trying to rig mass inflation: The r0ach report 30: Gold and silver unbelievers will soon believehttp://steemit.com/money/@r0achtheunsavory/the-r0ach-report-30-gold-and-silver-unbelievers-will-soon-believeThe combination of Trump tax plan (deficit spending into no bid bond market) + 1 trillion dollar infrastructure plan is either going to completely reverse the collapse in money velocity and ignite 1970's inflation to the moon, or the entire league of ivory tower, fraudulent economists will be completely bewildered that money velocity continues to collapse and do something like QE4 on top of that. Either way, they're going to force inflation somehow in the end no matter what and it's going to be yuge.
The metals market is already responding with people front running this right now:
The last time they did something like this, gold and silver both went up 10x in inflation adjusted dollars in the span of 8 years. I think this time the inflation might hit harder over a shorter time span (once they ever manage to get it started that is). If stocks collapse, all retirement funds collapse and the establishment gets overthrown by the boomercucks. Betting on stocks collapsing is probably not a good idea when they're clearly trying to engineer 1970's inflation to debase the unservicable debt + prop up the stock market.
In terms of metals price, gold should already be $2400-2600 or so right now when looking at gold to debt ratio charts. Silver would spike to around $75-85 when gold corrects there in current dollar purchasing power. Howerever, if they actually do ignite 70's inflation, the metals prices are going to go off the charts.
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sidhujag
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January 03, 2018, 02:00:08 AM |
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Watch for a stock market tumble near q3 q4 this yr. Crypto may benefit.
Wagering on a stock collapse is too risky when they're trying to rig mass inflation: The r0ach report 30: Gold and silver unbelievers will soon believehttp://steemit.com/money/@r0achtheunsavory/the-r0ach-report-30-gold-and-silver-unbelievers-will-soon-believeThe combination of Trump tax plan (deficit spending into no bid bond market) + 1 trillion dollar infrastructure plan is either going to completely reverse the collapse in money velocity and ignite 1970's inflation to the moon, or the entire league of ivory tower, fraudulent economists will be completely bewildered that money velocity continues to collapse and do something like QE4 on top of that. Either way, they're going to force inflation somehow in the end no matter what and it's going to be yuge.
The metals market is already responding with people front running this right now:
The last time they did something like this, gold and silver both went up 10x in inflation adjusted dollars in the span of 8 years. I think this time the inflation might hit harder over a shorter time span (once they ever manage to get it started that is). If stocks collapse, all retirement funds collapse and the establishment gets overthrown by the boomercucks. Betting on stocks collapsing is probably not a good idea when they're clearly trying to engineer 1970's inflation to debase the unservicable debt + prop up the stock market.
In terms of metals price, gold should already be $2400-2600 or so right now when looking at gold to debt ratio charts. Silver would spike to around $75-85 when gold corrects there in current dollar purchasing power. Howerever, if they actually do ignite 70's inflation, the metals prices are going to go off the charts. Dont bet on it. Oops you probably already did.
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OROBTC (OP)
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January 03, 2018, 02:41:36 AM |
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Watch for a stock market tumble near q3 q4 this yr. Crypto may benefit.
Wagering on a stock collapse is too risky when they're trying to rig mass inflation: The r0ach report 30: Gold and silver unbelievers will soon believehttp://steemit.com/money/@r0achtheunsavory/the-r0ach-report-30-gold-and-silver-unbelievers-will-soon-believeThe combination of Trump tax plan (deficit spending into no bid bond market) + 1 trillion dollar infrastructure plan is either going to completely reverse the collapse in money velocity and ignite 1970's inflation to the moon, or the entire league of ivory tower, fraudulent economists will be completely bewildered that money velocity continues to collapse and do something like QE4 on top of that. Either way, they're going to force inflation somehow in the end no matter what and it's going to be yuge.
The metals market is already responding with people front running this right now:
The last time they did something like this, gold and silver both went up 10x in inflation adjusted dollars in the span of 8 years. I think this time the inflation might hit harder over a shorter time span (once they ever manage to get it started that is). If stocks collapse, all retirement funds collapse and the establishment gets overthrown by the boomercucks. Betting on stocks collapsing is probably not a good idea when they're clearly trying to engineer 1970's inflation to debase the unservicable debt + prop up the stock market.
In terms of metals price, gold should already be $2400-2600 or so right now when looking at gold to debt ratio charts. Silver would spike to around $75-85 when gold corrects there in current dollar purchasing power. Howerever, if they actually do ignite 70's inflation, the metals prices are going to go off the charts. Dont bet on it. Oops you probably already did. I'll just mention here that WAY back in the past I was convinced that the stock markets would crash (or at least decline) in October (this was six tries in eight years) so I bought S&P 500 PUTS. All six times I lost some or all of my money.Fortunately it was a small amount of money, but I learned that I do not gamble well (except for Bitcoin, I am way ahead, even got my initial "investment" back and quite a bit more -- all in gold). As I have mentioned to our friend there in the islands there off of SE Asia, I cannot predict the future well. And I believe that NO ONE can either (except well-connected insiders on occasion). Be careful should you try to bet the S&P goes way down in late 2018. Don't wager too much money on that.
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sidhujag
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January 03, 2018, 02:47:05 AM |
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Watch for a stock market tumble near q3 q4 this yr. Crypto may benefit.
Wagering on a stock collapse is too risky when they're trying to rig mass inflation: The r0ach report 30: Gold and silver unbelievers will soon believehttp://steemit.com/money/@r0achtheunsavory/the-r0ach-report-30-gold-and-silver-unbelievers-will-soon-believeThe combination of Trump tax plan (deficit spending into no bid bond market) + 1 trillion dollar infrastructure plan is either going to completely reverse the collapse in money velocity and ignite 1970's inflation to the moon, or the entire league of ivory tower, fraudulent economists will be completely bewildered that money velocity continues to collapse and do something like QE4 on top of that. Either way, they're going to force inflation somehow in the end no matter what and it's going to be yuge.
The metals market is already responding with people front running this right now:
The last time they did something like this, gold and silver both went up 10x in inflation adjusted dollars in the span of 8 years. I think this time the inflation might hit harder over a shorter time span (once they ever manage to get it started that is). If stocks collapse, all retirement funds collapse and the establishment gets overthrown by the boomercucks. Betting on stocks collapsing is probably not a good idea when they're clearly trying to engineer 1970's inflation to debase the unservicable debt + prop up the stock market.
In terms of metals price, gold should already be $2400-2600 or so right now when looking at gold to debt ratio charts. Silver would spike to around $75-85 when gold corrects there in current dollar purchasing power. Howerever, if they actually do ignite 70's inflation, the metals prices are going to go off the charts. Dont bet on it. Oops you probably already did. I'll just mention here that WAY back in the past I was convinced that the stock markets would crash (or at least decline) in October (this was six tries in eight years) so I bought S&P 500 PUTS. All six times I lost some or all of my money.Fortunately it was a small amount of money, but I learned that I do not gamble well (except for Bitcoin, I am way ahead, even got my initial "investment" back and quite a bit more -- all in gold). As I have mentioned to our friend there in the islands there off of SE Asia, I cannot predict the future well. And I believe that NO ONE can either (except well-connected insiders on occasion). Be careful should you try to bet the S&P goes way down in late 2018. Don't wager too much money on that. Oh im not trading it.. just been told from reliable sources.
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realr0ach
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January 03, 2018, 04:54:46 AM Last edit: January 03, 2018, 05:25:09 AM by realr0ach |
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People who run the bitcoin forum trying to argue with me claiming Exter's pyramid is somehow defunct. As you can see, it's obviously not. I will file this under "things bitcoin shills tell themselves": Of the numerous lies people make up to try and pump bitcoin, this is the worst:https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-31-of-the-numerous-lies-people-make-up-to-try-and-pump-bitcoin-this-is-the-worst"Exter is dead. His pyramid is defunct."
The idea of Exter's pyramid does not require him to be alive nor is the idea deprecated. Exter's pyramid is simply the end of the line financial asset in which no other assets leap frog as a store of value. For instance, if someone believes the bitcoin market has topped out and the gold and silver market have topped out as well, NOBODY is going to hold bitcoin and will immediately dump the bitcoin for metals because bitcoin inherently will always have a vastly higher risk profile.
Just like Theymos said the other day, people just assume SHA256d might be secure. Metals do not give a fuck about if SHA256d is secure or not. It requires a black hole hitting the planet to black swan metals. Bitcoin has too many black swans that can blow it up to count. This is why bitcoin shills hate the word Exter's pyramid; they know bitcoin cannot compete on Exter's pyramid, thus making bitcoin just a pump and dump - a place gamblers go trying to get yield from imaginary, valueless tokens by scamming others into accepting their imaginary IOUs.
Just like I said a thousand times before, the further you abstract money away from barter, the bigger a scam it is. Using a physical commodity as money is the closest thing you can get to barter without being barter. The fact bitcoin doesn't even exist except in people's imaginations - an imaginary commodity, obviously makes it trash compared to real commodities or precious metals.
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sidhujag
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January 03, 2018, 05:24:13 AM |
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People who run the bitcoin forum trying to argue with me claiming Exter's pyramid is somehow defunct. As you can see, it's obviously not. I will file this under "things bitcoin shills tell themselves": The r0ach report 31: Of the numerous lies people make up to try and pump bitcoin, this is the worsthttps://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-31-of-the-numerous-lies-people-make-up-to-try-and-pump-bitcoin-this-is-the-worst"Exter is dead. His pyramid is defunct."
The idea of Exter's pyramid does not require him to be alive nor is the idea deprecated. Exter's pyramid is simply the end of the line financial asset in which no other assets leap frog as a store of value. For instance, if someone believes the bitcoin market has topped out and the gold and silver market have topped out as well, NOBODY is going to hold bitcoin and will immediately dump the bitcoin for metals because bitcoin inherently will always have a vastly higher risk profile.
Just like Theymos said the other day, people just assume SHA256d might be secure. Metals do not give a fuck about if SHA256d is secure or not. It requires a black hole hitting the planet to black swan metals. Bitcoin has too many black swans that can blow it up to count. This is why bitcoin shills hate the word Exter's pyramid; they know bitcoin cannot compete on Exter's pyramid, thus making bitcoin just a pump and dump - a place gamblers go trying to get yield from imaginary, valueless tokens by scamming others into accepting their imaginary IOUs.
Just like I said a thousand times before, the further you abstract money away from barter, the bigger a scam it is. Using a physical commodity as money is the closest thing you can get to barter without being barter. The fact bitcoin doesn't even exist except in people's imaginations - an imaginary commodity, obviously makes it trash compared to real commodities or precious metals.
Here is what the exters pyramid looks like going fwd https://steemit.com/cryptocurrency/@goldgoatsnguns/with-bitcoin-entering-adolescence-now-the-real-competition-begins
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realr0ach
Sr. Member
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Merit: 311
#TheGoyimKnow
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January 03, 2018, 05:28:24 AM |
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People who run the bitcoin forum trying to argue with me claiming Exter's pyramid is somehow defunct. As you can see, it's obviously not. I will file this under "things bitcoin shills tell themselves": The r0ach report 31: Of the numerous lies people make up to try and pump bitcoin, this is the worsthttps://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-31-of-the-numerous-lies-people-make-up-to-try-and-pump-bitcoin-this-is-the-worst"Exter is dead. His pyramid is defunct."
The idea of Exter's pyramid does not require him to be alive nor is the idea deprecated. Exter's pyramid is simply the end of the line financial asset in which no other assets leap frog as a store of value. For instance, if someone believes the bitcoin market has topped out and the gold and silver market have topped out as well, NOBODY is going to hold bitcoin and will immediately dump the bitcoin for metals because bitcoin inherently will always have a vastly higher risk profile.
Just like Theymos said the other day, people just assume SHA256d might be secure. Metals do not give a fuck about if SHA256d is secure or not. It requires a black hole hitting the planet to black swan metals. Bitcoin has too many black swans that can blow it up to count. This is why bitcoin shills hate the word Exter's pyramid; they know bitcoin cannot compete on Exter's pyramid, thus making bitcoin just a pump and dump - a place gamblers go trying to get yield from imaginary, valueless tokens by scamming others into accepting their imaginary IOUs.
Just like I said a thousand times before, the further you abstract money away from barter, the bigger a scam it is. Using a physical commodity as money is the closest thing you can get to barter without being barter. The fact bitcoin doesn't even exist except in people's imaginations - an imaginary commodity, obviously makes it trash compared to real commodities or precious metals.
Here is what the exters pyramid looks like going fwd https://steemit.com/cryptocurrency/@goldgoatsnguns/with-bitcoin-entering-adolescence-now-the-real-competition-beginsLOL, this is laughable. Exter's pyramid is based around risk profile and you need to be mentally insane or a scammer to try and claim bitcoin has less available black swans than noble metals.
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sidhujag
Legendary
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Activity: 2044
Merit: 1005
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January 03, 2018, 07:33:13 AM |
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People who run the bitcoin forum trying to argue with me claiming Exter's pyramid is somehow defunct. As you can see, it's obviously not. I will file this under "things bitcoin shills tell themselves": The r0ach report 31: Of the numerous lies people make up to try and pump bitcoin, this is the worsthttps://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-31-of-the-numerous-lies-people-make-up-to-try-and-pump-bitcoin-this-is-the-worst"Exter is dead. His pyramid is defunct."
The idea of Exter's pyramid does not require him to be alive nor is the idea deprecated. Exter's pyramid is simply the end of the line financial asset in which no other assets leap frog as a store of value. For instance, if someone believes the bitcoin market has topped out and the gold and silver market have topped out as well, NOBODY is going to hold bitcoin and will immediately dump the bitcoin for metals because bitcoin inherently will always have a vastly higher risk profile.
Just like Theymos said the other day, people just assume SHA256d might be secure. Metals do not give a fuck about if SHA256d is secure or not. It requires a black hole hitting the planet to black swan metals. Bitcoin has too many black swans that can blow it up to count. This is why bitcoin shills hate the word Exter's pyramid; they know bitcoin cannot compete on Exter's pyramid, thus making bitcoin just a pump and dump - a place gamblers go trying to get yield from imaginary, valueless tokens by scamming others into accepting their imaginary IOUs.
Just like I said a thousand times before, the further you abstract money away from barter, the bigger a scam it is. Using a physical commodity as money is the closest thing you can get to barter without being barter. The fact bitcoin doesn't even exist except in people's imaginations - an imaginary commodity, obviously makes it trash compared to real commodities or precious metals.
Here is what the exters pyramid looks like going fwd https://steemit.com/cryptocurrency/@goldgoatsnguns/with-bitcoin-entering-adolescence-now-the-real-competition-beginsLOL, this is laughable. Exter's pyramid is based around risk profile and you need to be mentally insane or a scammer to try and claim bitcoin has less available black swans than noble metals. Gold is more susciptible to government forces of which we are escaping using crypto. You must be insane to think that using your old boy money is going to protect you from big brother slapping you and sending you to your corner.
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Reuel1
Newbie
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January 03, 2018, 04:50:09 PM |
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Nice derail you guys got going on here, but who knows someone can help out with the following (might be useful for other lurkers too): I've got the feeling that reading Armstrong's articles/theories is valuable for an investor, however I feel a bit underqualified to understand all, and therefore I'm reluctant to start shelling out for paid material. Could anyone suggest what would be some good study material/starting points to ease into understanding the economic and maybe mathematical underpinnings of his theories? My background is Computer Science, my understanding of economics is pretty basic.
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