John McAfee: Cryptocurrency is coming

[funkenstein]

Yes, but the total wealth of the Earth (by some sources) is over $200 trillion.

Notice the total absurdity of this statement by those some sources.  For one there is no mention of M0 vs. M1 vs. higher   For two there is no way any of these levels of money supply could be verified, as the unit is "$".  For three, the unit of "$" is unbounded, issuers gonna issue, nobody can stop them.  For four, the unit "$" is without physical definition - there is no way to verify one has a "$" other than to pass it off to another idiot.  It's absurd to even think of it as a unit of wealth, let alone to assign a finite number to it or to claim you know some total number of "wealth of Earth".    

I was talking about the money in possesion of the people and banks, but I'm not going to argue about that. I just tried to point to the fact that cryptocurrencies are still a very tiny part of the "world's wealth".

The only things that come to mind for me as possible measures of the world's wealth are:

1) Biodiversity  (number of unique species)

2) Biomass (mass of living things, arable land)

If you want to talk about the world's exchange commodities, it's easy to say how many BTC or LTC the world has. 

[spartak_t]

Yes, but the total wealth of the Earth (by some sources) is over $200 trillion.

Notice the total absurdity of this statement by those some sources.  For one there is no mention of M0 vs. M1 vs. higher   For two there is no way any of these levels of money supply could be verified, as the unit is "$".  For three, the unit of "$" is unbounded, issuers gonna issue, nobody can stop them.  For four, the unit "$" is without physical definition - there is no way to verify one has a "$" other than to pass it off to another idiot.  It's absurd to even think of it as a unit of wealth, let alone to assign a finite number to it or to claim you know some total number of "wealth of Earth".    

I was talking about the money in possesion of the people and banks, but I'm not going to argue about that. I just tried to point to the fact that cryptocurrencies are still a very tiny part of the "world's wealth".

The only things that come to mind for me as possible measures of the world's wealth are:

1) Biodiversity  (number of unique species)

2) Biomass (mass of living things, arable land)

If you want to talk about the world's exchange commodities, it's easy to say how many BTC or LTC the world has. 

Don't you think that there are some people who knows (at least approximately) the total number of the printed money around the world (no mater if its dollars, euros or pounds)? I don't think we should discuss this more, because its unnecessary. I will repeat that I gave that number with the intention to show how insignificant digital money currently are, and it will take many years (if "some people" allow it, which I doubt) to be considered even a little threat to the banks/governments.

[jojo69]

1) Biodiversity  (number of unique species)

2) Biomass (mass of living things, arable land)

3) Total solar energy uptake

4) Total liters of unpolluted fresh water

[funkenstein]

Don't you think that there are some people who knows (at least approximately) the total number of the printed money around the world (no mater if its dollars, euros or pounds)? I don't think we should discuss this more, because its unnecessary. I will repeat that I gave that number with the intention to show how insignificant digital money currently are, and it will take many years (if "some people" allow it, which I doubt) to be considered even a little threat to the banks/governments.

No, it's not possible the know that.  It's not possible to know how many printing presses there are, or how many bills come from even a single one of them.  It's not possible to know how many people are sitting with palates of benjies in their garage.  Fiat is not public currency, these numbers are in no way verifiable. 

Banks and governments are made of people, and people are free to use public currencies.  There is no "threat" about it. 

[Spoetnik]

..coming ?

He better hurry up there is far more players gearing up to fleece you Investards dry.

Ever heard of Max Keiser ? or Kim Dotcom ?

The next Ethereum scam ? STARTCOIN  

[spartak_t]

..coming ?

He better hurry up there is far more players gearing up to fleece you Investards dry.

Ever heard of Max Keiser ? or Kim Dotcom ?

The next Ethereum scam ? STARTCOIN  

I mentioned another guy, which was richer than Dotcom and McAfee combined and he ran an ICO, but forgot his name so I can't check the results. Before that he squandered over a $1Bn in few years. Viral is also a honorable mention.

EDIT: Btw Brexit has won and that would make an impact to cryptocurrencies for sure... Bitcoin already regained $100.

[Spoetnik]

Interesting spartak !

People really DO down play the corruption level and foul motives at work.

They really are gullible.. they all just assume if it's out there it's legit.
Then they do no research aside from the scam coin current price then buy buy buy !
Then.. Run here and cry FUD for bucks $$$

There is no concept of morality only greed.

Personally i don't have that much of a problem with a greed based system at work here
it's just the fact that if you leave your money on the table long enough you will get drained dry.
The process is bad but the outcome is worse !

Not a lot of thinking going on ever..
They just "DO" with out second guessing anything like should centralized exchanges even exist ?
NO they shouldn't !
They are a business for profit.. off of crypto.
They are centralized meaning a central figure of sorts control it.
Then they are positioned to GOX you at will with no warning with any excuses.. anytime !

Rewind a bit boys ..isn't the point here to get a decentralized crypto-currency going ?
How in gods name is a mishandled overly corrupt centralized ICO scheme launched that is not even a currency placed onto a centralized exchange used ONLY for profit an innovation as Ethereum supporter have been chanting ?

I said stuff *like* that last few days and they banned me from their ETH IRC channel.

[spartak_t]

Aaaah, got the name. It's Halsey Minor, the founder of CNET. He sold it to CBS back in 2008 for $1.8Bn, but several years later I think he filled for bankruptcy. He is part of Voxels, which gathered 1022 BTC ($350,000 at the time) via crowdsale.