... the only person more wrong on BTC than Anonymint is Armstrong.
You and Armstrong are both wrong on the future of Bit
CON:
https://bitcointalk.org/index.php?topic=1465136.msg14854131#msg14854131As for the price action I predicted, stay tuned...
I think Armstrong will end up being correct about bitcoin (not surviving the other side of 2020) let's see..
It is not clear if it will destroyed or merely turned into a tool to confiscate wealth, and a better Paypal for the masses. My bet is the totalitarian variant of the future. Click the link above to find out why. Men need a tyrant.
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I think Armstrong will end up being correct about bitcoin (not surviving the other side of 2020) let's see..
It is not clear if it will destroyed or merely turned into a tool to confiscate wealth, and a better Paypal for the masses. My bet is the totalitarian variant of the future. Click the link above to find out why. Men need a tyrant.
I very much doubt it becomes a "better" Paypal for the masses for the simple reason that it isn't better.
I would be bet on failure over widespread usage of a coopted system. In fact I'd lay significant odds on that bet. (Though failure is somewhat difficult to define precisely -- let's say significant loss of value and usage.)
I see even an oligarchy controlled Bitcoin as better than Paypal, because:
1. Bitcoin is a global politik; and thus even the Chinese mining oligarchy (cum banksters pulling the strings behind the curtain) can't do anything which isn't politically correct globally.
2. Thus Bitcoin will retain many attributes that Paypal as a corporate offering can't provide such as inability to deny any person in any account equal opportunity to access, inability to enforce holdbacks, block certain industries, and other arbitrary shit Paypal does which make my head want to explode. Bitcoin is a trojan horse launched by the global elite to subvert any localized attempt to block/control the shift to digital currency.
3. Thus I predict enormous adoption for Bitcoin, but just remember it will be owned and controlled by the global elite (aka the banksters). And the global socialism will enforce a global confiscation/expropriation of those with wealth, in the coming years. It will be a bittersweet success.
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3. Thus I predict enormous adoption for Bitcoin, but just remember it will be owned and controlled by the global elite (aka the banksters). And the global socialism will enforce a global confiscation/expropriation of those with wealth, in the coming years. It will be a bittersweet success.
Meh, hardly anybody wants Bitcoin, and the only ones who do will just flee it and use something else if it becomes government controlled. Using Bitcoin now is a pain in the ass and something a relatively small number of people do at great inconvenience and only out of necessity (generally speaking holding it for as short a time as possible). They'll have no trouble switching to Zcash or whatever else if necessary for their purposes. The rest will just stick with actual Paypal and similar products.
The only ones with any real
wealth in Bitcoin are speculators who treat Bitcoin like a Wall Street product (and often store it in easily-confiscatable form on exchanges anyway). Well yeah maybe their Bitcoin will get confiscated. Not really any different from any other Wall Street product, and not at all surprising (to me). A few of the smartest ones will probably be able to escape confiscation, again not so different from traditional finance.
For the moment Bitcoin is only a gambler's paradise, but
the conversion to instant microtransactions is the key to launching it into mass adoption.
That is why the block chain size debate has been so contentious, because it is a battle over who (Chinese mining cartel + Blockstream, all controlled behind the curtain by the banksters) owns Bitcoin as it is scaled out.
It's pretty evident from the establishment embracing Bitcoin and things like this CME news, that TPTB will use Bitcoin as a golden parachute to escape the death trap fiat system they created. They know it's extremely hard to do business using gold, and you would need to implode civilization back to the dark ages to make gold work again, so Bitcoin is their go to play to keep the wheels turning at an above caveman level.
Ever since humans stopped being hunter gatherers and settled land, it created abundance. That's when the predator class arose to skim the abundance. It's in TPTB' best interests to keep a high level of civilization running in order to skim it instead of having civilization implode back to ancient Babylon. That would likely just implode their own standard of living as well once the caviar supply lines run out.
Yes, they create catastrophes to benefit from them, but I don't think they want ones so big that they become completely unpredictable and threaten their own power structure. They always have some type of golden parachutes in mind, and Bitcoin is seemingly the only viable thing around for digital transactions in the coming great reset. The world supply lines are very intertwined, and if you cannot do digital transactions on an international level because nobody trusts any of the currencies, then you immediately go back to the 1800's. Do TPTB want to live in the 1800's? Probably not. They have to devise something to keep the wheels of the world turning.
Agreed, but they didn't create Bitcoin as the primary escape hatch from fiat collapse (which will instead be the
one world currency reserve unit basket), but rather because they want to subvert any one nation's control over the digitalization of currency. They don't want a bastardized fragmentation of the digitalized commerce world. That is all good. The bad part is they control the global politik, and thus they control Bitcoin. They can easily incorporate capital controls and expropriation into the politics of regulation of Bitcoin and then they can easily implement it since they are funding and arranging the Chinese mining cartel and Blockstream's $74 million funding.
Edit: my take on the opportunities ahead:
https://bitcointalk.org/index.php?topic=1219023.msg14855669#msg14855669
