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Question: When do goldbugs give up?
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Febo
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August 24, 2018, 11:55:05 AM
 #61

I don't know if I made my point clear, but gold mining in space is a real issue if our civilization lasts another 50 years.

Bullshit and you people that keep spamming this just make yourselves look stupid each time you type it.  Mining gold that costs a million dollars an ounce to produce in space is not viable and is absolutely ZERO threat to anyone that purchased gold that was mined on earth.  Since silver weighs more/takes up more space for what they would be trying to bring back, it's even LESS viable to mine in space and was already a better buy than gold anyway.  So stop even talking about gold in the first place when the GSR is 80:1 and silver is like god himself walking up and handing you a platter of free money by buying it instead.


I agree. Silver is problem to store even on Earth. So dreaming about it in space is far to early. I remember in January I was thinking to turn part of my crypto into silver and when saw how big pile would that be I immediately stooped thinking of silver.

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August 24, 2018, 12:06:18 PM
 #62

I agree. Silver is problem to store even on Earth. So dreaming about it in space is far to early. I remember in January I was thinking to turn part of my crypto into silver and when saw how big pile would that be I immediately stooped thinking of silver.

thats what gold is for.

A $40k bar is the size of a smart phone.
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August 24, 2018, 06:09:07 PM
 #63

I agree. Silver is problem to store even on Earth. So dreaming about it in space is far to early. I remember in January I was thinking to turn part of my crypto into silver and when saw how big pile would that be I immediately stooped thinking of silver.

thats what gold is for.

A $40k bar is the size of a smart phone.

I understand that. And even in my country my government says so since Gold is tax free, but silver is not. But whenever i go i read how gold silver rate is to high as it was in past and should get closer. So people speculate buying solver is better then gold. But when you think how to store and handle it then , ...

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August 25, 2018, 08:46:12 AM
Last edit: August 25, 2018, 09:03:18 AM by realr0ach
 #64

I don't know if I made my point clear, but gold mining in space is a real issue if our civilization lasts another 50 years.

Bullshit and you people that keep spamming this just make yourselves look stupid each time you type it.  Mining gold that costs a million dollars an ounce to produce in space is not viable and is absolutely ZERO threat to anyone that purchased gold that was mined on earth.  Since silver weighs more/takes up more space for what they would be trying to bring back, it's even LESS viable to mine in space and was already a better buy than gold anyway.  So stop even talking about gold in the first place when the GSR is 80:1 and silver is like god himself walking up and handing you a platter of free money by buying it instead.


I agree. Silver is problem to store even on Earth. So dreaming about it in space is far to early. I remember in January I was thinking to turn part of my crypto into silver and when saw how big pile would that be I immediately stooped thinking of silver.

That's the point of economic resets.  The rich are the ones that lose the most.  The middle class and poor already have nothing to lose.  People who are billionaires and such will only retain what they are able to physically control and defend from both the govt and random citizens trying to steal it, or stash in a cave somewhere like some sort of pirate.  So...most of them choose gold for that reason even though it's obvious silver will outperform it.  If you're confident in your ability to either hide or defend what you have from both the govt and people named Tyrone trying to take it, then silver it is.
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August 25, 2018, 10:09:52 AM
 #65

I don't know if I made my point clear, but gold mining in space is a real issue if our civilization lasts another 50 years.

Bullshit and you people that keep spamming this just make yourselves look stupid each time you type it.  Mining gold that costs a million dollars an ounce to produce in space is not viable and is absolutely ZERO threat to anyone that purchased gold that was mined on earth.  Since silver weighs more/takes up more space for what they would be trying to bring back, it's even LESS viable to mine in space and was already a better buy than gold anyway.  So stop even talking about gold in the first place when the GSR is 80:1 and silver is like god himself walking up and handing you a platter of free money by buying it instead.

This is a really rare moment I have to agree with the genius of roach  Grin    But yea its quite simple that weight is a giant factor in anything related to space, its not practical and there is cheaper gold on earth available.    Its quite often the case gold can be recovered in low amounts of say less then 1 gram per ton but its not worth their time and energy to sort out the gold, the gold is left in the ground or just thrown away.   They recover quite alot of gold from the major cities in Japan, in the sewers.   I think in space it might be water that is most valuable

I know the great mines of South Africa are related to a giant meteor that cratered there many years ago.  However it was how it altered the earth not the minerals it bought that mattered.   There is vast quantities of gold within the earths molten core and even more in the sea, however in each case they are distributed and really not easily obtainable.    When we get free energy we can get that gold perhaps and go after the stars also

https://en.wikipedia.org/wiki/Witwatersrand_Basin




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August 25, 2018, 04:09:26 PM
Last edit: August 25, 2018, 04:37:52 PM by Traxo
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 #66

Also the elite already own the gold so why would they make it worthless and start over with bitcoin?

Because they want to move to a world central bank that subjugates all the nation-states. Again this increases human cooperation on a global scale while also increasing entropy by disintemediating (i.e. creative destruction of their own control over nation-state central banks) nation-states (which were well suited for the agricultural and industrial ages but ill suited to the Internet knowledge age) so as to enable massive proliferation of separation movements so that we end up with 1000s of tribes again run by a single NWO government. This will come in stages over time, first as a weakening of nation-states and regional trade and currency union blocs (e.g. European Union, Asian Union, NATFA, etc) before the ultimate dissolution of nation-states entirely.

Remember George Gilder explained in that Youtube link somewhere in Shelby's post about the book The Bitcoin Standard, that nature requires a low entropy channel in order to increase entropy overall. This is how cooperation elevates. So we need for example the Internet to not be random, so that we can have more random creations going on on the Internet. Ditto the monetary and governance conduit of human civilization.

So in order to accomplish this while avoiding resistance from the existing entrenched politics in nation-states, they needed a way to disrupt the monetary system of the world with an emergent, bottom-up process that can't be detected as what it will really become. Ergo Bitcoin.

Gold is the old system of nation-state central bank reserves. But gold was pretty much phased out already with US Treasury bonds largely replacing gold in reserves. And now Bitcoin will put the final nail in the coffin for gold.


I agree. Silver is problem to store even on Earth.

thats what gold is for.

A $40k bar is the size of a smart phone.


And Bitcoin will rise to $million+ so that $40k will only buy you a ham sandwich in the future. Gold is going the way of the Dodo bird. But it will "rise" to maybe $3000 – $5000 one more time before it goes into a precipitous terminal decline in value.

The demise of gold may not be complete until some decades from now, yet even on this cycle of Western civilization collapse before 2033, it’s very likely the government will make it impossible for you to redeem your gold for fiat. Capital controls are coming. And there wont be any blackmarket for it at all and nobody with Bitcoin is going to accept your gold, because when the governments clamp down on gold, nobody will want that shit because you can’t move that bar across any nation-state border or checkpoint.

Whereas, BTC will always be in demand because it can be transported electronically to a favorable jurisdiction.

This is the bottom line and explains that @realr0ach is loony.

Those who doubt that technology reduces the value of metals over time should note the loss of demand for platinum due to the rise of electric cars resulting in a plummeting price.





You still havent explained why the NWO would bother buying up all existing bitcoin kicking everyone else off the blockchain when they have access to all this free hash power and could just launch NWO-coin with zero initial outlay for their own uses.

You seem to not understand that the masses will be kicked off because when BTC rises to $million+ then transaction fees in excess of $5000 (perhaps as high as $50,000) per transaction.
TPTB pay the fees to themselves since they are also eventually the miners. TPTB don’t need to buy Bitcoin from the masses, the masses will pay it to them as transaction fees.

This represents inefficiency then, every free capitalist market is driven by efficiency in line with profitable arbitrage.    To have a build up of transaction fees represented failure I think.   I really see this as a problem for BTC overall, that it has a rising cost of processing is not ok.  

However I think the protocol can be developed further and will harness technology to become more able for the same price.

You didn’t coherently assimilate what I told you before which is that Bitcoin is not intended to scale transaction volume.

If Bitcoin’s protocol were able to be modified to increase the block size to allow more transactions, then it would lose the game theory protection that insures it will always be limited to 21 million tokens. That deflationary assurance is Bitcoin’s raison d'être.

The game theory of Bitcoin is designed such that it is impossible to change the protocol. Core attempted to do so, but Satoshi put a poison pill in his design that will cause Core tokens to be donated to the miners in the future. IOW, the Core "Bitcoin" is an imposter and is not the Satoshi’s v0.53 real Bitcoin. Theymos allowed Gregory Maxwell et al (i.e. Blockstream) to hijack this forum and bitcoin.org. This is ostensibly the real reason Shelby is banned, because he was exposing the truth.

If you go back and click my links, you will find that Shelby (as @anunymint) had explained in great detail why Core’s changes to Bitcoin actually are an altcoin. Satoshi’s v0.53 real Bitcoin is actually still running simultaneously with Core on the same chain, but when the SegWit donations start, then Core will hardfork off away from the real Bitcoin. At that point, everyone who had their BTC stored in SegWit addresses that start with a 3 will donate their real BTC to the miners. They will only keep their Core altcoin tokens. Those who instead store in Satoshi Bitcoin addresses that start with a 1 will keep both the real BTC and get a free airdrop of Core altcoin tokens. I provided the links up-thread that cover all this information in great detail.

The transaction scaling and other features that blockchains can provide will come from altcoins, not Bitcoin. That is why Shelby is working on an altcoin, because he thinks he has figured out how to insure decentralization with proof-of-stake. Nobody else has solved that problem yet. He mentioned his solution in the comments of the following linked blog:

https://steemit.com/cryptocurrency/@anonymint/scaling-decentralization-security-of-distributed-ledgers-part-4

I do expect BTC to either improve or lose the game to another parallel innovation [...] If you would believe BTC replaces gold in this elite wealth idea, then what would be in the position of silver or copper for the masses in that scenario ?

You conflated separate concerns. The NWO reserve currency will not be the token that the masses use onchain. Remember Gresham’s Law that bad (inferior) money drives good money out-of-circulation— e.g. paper money and debt-based fiat drove precious metals out-of-circulation (even zinc-clad copper dimes drove silver dimes out-of-circulation). The masses will be transacting offchain (e.g. Lightning Networks but this has serious security and soundness issues) or an altcoin. These bad forms of money will not be as good of a store-of-value (i.e. they may be inflationary, have dubious security, be fiats, etc) as Bitcoin but they will scale better.





Don't bother responding to Anonymint about metals.  All he's doing is praying shitcoins win and metals don't go up because he owns shitcoins and no metals.  He's just a disinformation agent at this point.  Anyone with a clue about markets knows metals are currently in one of the largest inverse bubbles in world history and the upcoming metals bull run will be that of legend:

Since most of you guys are JayJuanGee-level economists, let me go ahead and tell you the fair market value of the DOW is 8500-9000.  So expect it to probably drop below that when it does crash before rebounding, assuming the PPT doesn't just implement full blown communism and prints their own number.  The insider info is [...]

Shelby says, “you’ve lost all your marbles.”

Do you really believe that PPT nonsense promulgated by guys with an IQ below 130. Shelby says he communicated with all those famous goldbug personalities in email in the past. All of them, including Peter Schiff. They aren’t very intelligent.

The North American stock markets and dollar are rising because of the strong dollar-short vortex. It's an international stampede of capital into the safe haven of the dollar as interest rates rise and the economic collapse of Europe accelerates. Also China’s real estate bubble is popping right now and Asia will not bottom until 2020ish. Europe and the West will not bottom for many decades. The USA will also economically collapse after the period of the strong dollar-short vortex has peaked. Shelby has been telling you this for the past years and he has continued to be correct while you continued to make a fool of yourself by being perpetually incorrect, including when you sold BTC at $600 to buy silver at $20.

You are already 40 times poorer than you were in 2016. If you don’t sell that idiotic silver and buy BTC now, you are going to be another 10 times poorer perhaps by 2019 (assuming Bitcoin attains a new ATH then and not after 2020).

Metals are going to go back up, but you are delusional if you believe that nonsense about a silver shortage. Silver will never, never ever have the level of moonshot that will get you back to what you lost already. You should not double-down on that mistake.

Here's an education for readers about your "PPT" (plunge protection team) delusions. The manipulations are only short-term in nature, because they always blow in the face of the banksters.

The Long Term Capital Management scam that involved Russia, Yeltsin, the $8 billion from the IMF, HSBC, Hermitage Capital, Clinton Foundation, and Martin Armstrong (he was framed and jailed for 7 years unconstitutionally) blew up in the face the banksters and is tied into the current Mueller investigation (c.f. also this blog) of Trump implicating Russia. Here is more on manipulation from Armstrong:

https://www.armstrongeconomics.com/uncategorized/comment-from-a-reader-manipulations/
https://www.armstrongeconomics.com/uncategorized/metals-perpetually-suppressed/
https://www.armstrongeconomics.com/uncategorized/derivatives-the-real-story/
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/silver/do-commitment-of-traders-inventories-really-matter/
https://www.armstrongeconomics.com/uncategorized/are-markets-manipulated-all-the-time/
https://www.armstrongeconomics.com/armstrongeconomics101/understanding-cycles/market-manipulations-the-greatest-scam-of-all-time/
https://www.armstrongeconomics.com/uncategorized/gata-gold-manipulations/
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/do-people-hear-only-what-they-want-to-hear/
https://www.armstrongeconomics.com/uncategorized/regulators-assist-banks-in-manipulations/
https://www.armstrongeconomics.com/uncategorized/aluminum-manipulation-leads-to-lawsuits-against-goldman-etc-the-days-of-proprietary-trading-are/
https://www.armstrongeconomics.com/qa/time-for-a-change-in-reasoning/
https://www.google.com/search?q=site:armstrongeconomics.com+PhiBro+silver






I agree. Silver is problem to store even on Earth.

thats what gold is for.

A $40k bar is the size of a smart phone.

I understand that. And even in my country my government says so since Gold is tax free, but silver is not. But whenever i go i read how gold silver rate is to high as it was in past and should get closer. So people speculate buying solver is better then gold. But when you think how to store and handle it then , ...

Sorry those people who talk about the silver-gold ratio are idiots. They look at a multi-dimensional manifold and conclude that only one dimension is in effect. IOW, they are full of shit and just looking at a 1D projection of reality. Thus their prayers are just praying for the broken stuck clock to be correct twice a day:

https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-ratios-are-they-really-worth-much/
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-silver-the-view/
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/dowgold-ratio/

Be very wary of following the advice of people with low IQs who don’t even consider the scientific method when they make their proclamations of ignorance couched as some "truth".
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August 25, 2018, 10:36:22 PM
 #67

Also the elite already own the gold so why would they make it worthless and start over with bitcoin?
I can not think deeply. But still do not understand why China is buying huge amounts of gold across the country? Do you have any reasons? Information?
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August 25, 2018, 11:59:31 PM
 #68

Gold bugs are literally defined as people who hold gold and view it as the best investment possible, regardless of the state of the gold market. This is something that is extremely irrational, and probably deep rooted. Thus, it's extremely hard for one to just "give up".

Though, I do think that with cryptocurrencies as a viable alternative store of value, especially bitcoin, it would only be a matter of time before gold perma-bulls start converting some of their long term holdings into bitcoin. I've seen many youtubers do so over the past few years, and this trend will continue, but will take time.

It may ultimately not even come down to gold's market cap, but rather, the rise awareness of better alternative store of values like bitcoin that has the exact same properties as gold, that makes these gold bugs shift their investment stance.

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August 26, 2018, 02:55:46 AM
 #69

Anonymint, stop linking Armstrong garbage...jesus christ.  You may as well be linking to FBI informants like Hal Turner.  The only purpose of Armstrong and Harry Dent is to try and con everyone into only using the US dollar and no other instrument for trade to prop up the establishment usury scam system.  That is their only reason for existing.  Each link of Armstrong you spam just shows you have no clue what's going on.

I remember like a year ago you were spamming Armstrong bullshit links non-stop where both Armstrong and Harry Dent said gold was going "far below $1000 to the abyss", claiming it was going to $700-800.  It was of course all a US govt sponsored lie to try and get morons to buy US dollars and stocks instead to keep the system afloat.  So you are by definition yourself just a disinformation agent at this point.  No amount of tricks, propaganda, or fraud are going to get people to buy into stock ponzies, overinflated housing, or usury dollar scams.  Great job in your success tricking people into buying centralized, imaginary, valueless shitcoins though!
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August 26, 2018, 05:48:44 PM
 #70

I have no cogent rebuttal.
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August 27, 2018, 01:10:22 AM
Last edit: August 27, 2018, 01:23:45 AM by realr0ach
 #71

That was the rebuttal.  You are spamming links of the equivalent of an FBI informant pretending it's valid information.  You have to be a complete fool if you can't figure out their disinfo campaign:



Do you think Harry Dent actually blows money on these ads to 'warn' you out of the kindness of his heart?  Fuck no.  It's a Jewish money changer, govt run disinfo campaign:



Armstrong is just Harry Dent 2.0 attempting to get people to only buy US dollars, stocks, and bonds to prop up the collapsing scam system and prevent them from buying metals, where there is already a technical default on the COMEX as evidenced by all the EFP contracts to London.  

Post-Bretton Woods central bankers had some informal agreement that no single country was allowed to do open market buying of gold to disrupt the debt based scam system, ONLY SELLING of gold.  Putin has completely blown the doors off that agreement as well as China and now the fake paper contracts keep stacking higher while there is no real metal to deliver behind the scenes in quantity until it all blows up.
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August 27, 2018, 04:06:25 PM
 #72

So folks I think that makes it clear the sort of lunatics that wear tinfoil hats.

They may soon be running from their own shadows because they seem to associate any random things without actually doing any significantly detailed research on the random associations that just pop into their psychosis.
Seriously you might want to see a psychiatrist before you end up destitute, because you are slipping away from reality.

Remember @realr0ach sold BTC at $600 to buy silver at $20 in October 2016 when Shelby and others publicly urged him not to do so. (c.f. near the bottom of linked Steemit comment for the evidence)

Also clearly our resident loon is cherry picking and misrepresenting the facts about Martin Armstrong. Readers can dig into the links provided to clearly see that @realr0ach has "lost all his marbles".

P.S. The Jews have a Nash equilibrium on defection against those not in their own tribe. Europeans don't have this, so they are easy prey to defection amongst themselves.
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August 27, 2018, 04:42:40 PM
Last edit: August 27, 2018, 04:56:54 PM by realr0ach
 #73

Here comes Anonymint again pretending he knows anything about what's going on.  It's 100% fact Harry Dent is a US govt asset and anyone that can read between the lines with his disinfo campaign of ads above can tell the US govt is trying to trick you into buying imaginary, valueless shitcoins instead of metals.  Why?:

Because Fort Knox and the US govt DOES NOT HAVE 8000 tons of gold.  Most of it is gone.  The debt based, usury fiats are about to implode and instead of the system coming down and them being forced to re-monetize metals again - then all being publicly hanged after it's discovered the gold is gone - they're trying to kill two birds with one stone and do a bait and switch to a digital-only, cashless society slave system to gain even more control over you than they already had.  

Their backup plan should people reject the new world order digital scam tokens is to re-monetize the giant hoard of silver that JP Morgan has accumulated as an agent of the US govt because the gold is gone and the coinage act of 1792 already defines a US dollar as 371 grains of silver.

And when all else fails and Anonymint starts losing an argument, he cut and pastes the same lie over and over pretending he has any idea of when I have bought and sold bitcoins.  I said in perfectly clear English numerous times, I sold 1/2 of my shitcoins at $800.  It does not say all.  And i have absolutely nothing to prove to you.  But it's pretty lame seeing your constant female-like, passive aggressive behavior when what you cut and paste over and over again any time you're losing an argument isn't even true.  I even posted a receipt in the dumb Armstrong thread of me converting shitcoins into silver in 2017, yet you still keep spamming this nonsense over and over.
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August 27, 2018, 06:31:28 PM
 #74

Gold bugs are literally defined as people who hold gold and view it as the best investment possible, regardless of the state of the gold market. This is something that is extremely irrational, and probably deep rooted. Thus, it's extremely hard for one to just "give up".

Though, I do think that with cryptocurrencies as a viable alternative store of value, especially bitcoin, it would only be a matter of time before gold perma-bulls start converting some of their long term holdings into bitcoin. I've seen many youtubers do so over the past few years, and this trend will continue, but will take time.

It may ultimately not even come down to gold's market cap, but rather, the rise awareness of better alternative store of values like bitcoin that has the exact same properties as gold, that makes these gold bugs shift their investment stance.

I have seen goldbugs talking about gold in terms of "god's money". I understand that gold has an impressive network effect that lasts for what, thousands of years? but they often forget how volatile it was in the past. Isn't this familiar:



And what about this:



Please stop denying gold isn't any less manipulated than Bitcoin, and start accepting the fact that Bitcoin has obvious positive points: They cannot confiscate it when trying to cross borders, they cannot show up in your house with radars and inspect your garden or whatever trying to find buried gold and so on. The money is also harder due the limited and public, predictable supply. Nobody has numbers of what gold's supply is, which becomes yet another factor to manipulate which they can't do with BTC.

There are reasons to own both Bitcoin and gold but not seeing Bitcoin beats gold in many departments is being yet another deluded goldbug.
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August 27, 2018, 08:54:19 PM
 #75

There are reasons to own both Bitcoin and gold but not seeing Bitcoin beats gold in many departments is being yet another deluded goldbug.

It's in people's nature to hardcore shill that what they own a lot of. In all honesty, we are doing the same with Bitcoin more often than not, and that while we haven't had all that much history of actual use and utility to fall back on. It's mostly all speculative hype that we have to dig through and as long as we haven't done that to reach the utility phase, people will not give Bitcoin a fair chance.

On the other hand, we should be glad that not everyone sees Bitcoin the way we see it, otherwise we by now would hover over $100,000 already.

As stated before, breaching $1 trillion is a very important psychological milestone. Even when some goldbugs don't want to acknowledge Bitcoin's power publicly (remember, there are always people telling you that you're wrong even when you are 100% right), they at least know that Bitcoin will likely eat into Gold's market share even further. They'll sleep a whole lot less comfortable knowing that.

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August 28, 2018, 02:27:47 AM
 #76

It's mostly all speculative hype that we have to dig through and as long as we haven't done that to reach the utility phase, people will not give Bitcoin a fair chance.

What utility?  If you hoard all the bitcoins in the entire world, there's no way possible for you to extort me by forcing me to buy into your artificial scarcity scam.  I can just ignore you like you don't even exist, or create a new random shitcoin with a distribution that favors me instead of you.  This is called no valid Schelling point.  

However, if I hoard all above ground silver in the world, people actually need it, and I can just set my own price and demand it from you and force you to pay me.  Any type of economic activity you're doing can be completely ignored by everyone else on the planet, so you're like the pig that built his house out of straw by pretending an artificial scarcity scam with no real world use is a store of value.
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August 28, 2018, 03:16:32 AM
 #77

For anyone expecting a dollar short squeeze that Anonymint is always plagiarizing Armstrong's claim about, it damn sure ain't happening right now:

Commercial banks are 40:1 short the US dollar right now, indicating they are front running lots of dollar decline.  In the past, most bitcoin pumps in relation to fiats occurred with yuan decline and I don't recall any real bitcoin movements based on dollar decline.  It seems like if yuan declines, lots of China money flows into bitcoin, which is then sent out of China and into the dollar or Vancouver housing or something.  If dollar declines, the flow into bitcoin for capital flight does not occur.
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August 28, 2018, 07:43:09 PM
Last edit: August 30, 2018, 03:41:38 PM by Traxo
 #78

And what about this:



Please stop denying gold isn't any less manipulated than Bitcoin

Tinfoil hat, aliasing error, delusional nonsense. The peak and decline in gold began because of the start of the strong dollar-short vortex and the rise of the DJIA on its way to 26000 (and ultimately 40,000) as Armstrong correctly predicted back in 2011 and 2012 (despite @realr0ach's lies and cherry picking blogs out-of-context). It was a simple international capital flows phenomenon. There was and is no long-term manipulation of the gold price. You guys don't seem to understand anything about the entropy.

Remember it was @realr0ach stating back in 2016 that Armstrong was going to be incorrect about a rising DJIA and strong dollar. Well he ate his words and lost 4000% of this relative value by selling BTC for silver in October 2016. And now he is going to double-down on that mistake and lose another 1000%, to bring himself into the destitute class of -40,000% relative loses over a span of 5 years or so.

The following exponential trend of Bitcoin is undeniable because it is being adopted as the NWO international reserve currency:

https://steemit.com/trading/@anonymint/most-important-bitcoin-chart-ever (see chart on the linked page)

James A. Donald (aka "Jim", first person to communicate with Satoshi on the mailing list where Bitcoin was first announced) recently explained this adoption pattern well:

For a long time the big demand for crypto currency has been wealthy Chinese evading currency controls, but with the recent crackdown on hate speech, we are seeing massive American and European demand, which directly resulted in the recent spike in crypto currency values.

Another substantial source of demand for crypto currency, which has been around since the beginning, is buying steroids and suchlike over the internet, but the really huge move in crypto currency demand came during the recent crackdown on political activists.





they at least know that Bitcoin will likely eat into Gold's market share even further. They'll sleep a whole lot less comfortable knowing that.

Did anyone actually click the linked chart in the quote below?



Because the chart linked below shows that physical metals have been declining in relative value inexorably. Gold is declining in relative value while Bitcoin is rising. Only someone without a brain stem would buy gold at this point. It’s being rapidly phased out by technological advance.


I think its arrogant to believe we have altered a trend that has been in existence that long.

It's important to distinguish … ego from facts (the link explains that Iron was a precious metal and money 323 B.C.). So not only is the trend of gold just a small fraction of recorded civilization, but there is a chart of an inexorable trend of decline in value for physical things at that link.

… technology really has inexorably made physical things less and less valuable. And the Internet and the computer are accelerating that trend to the extent that gold is losing its function as money. Paper money was the first invention that relegated gold to second tier status, and now Bitcoin will replace the second tier as well. The fat lady is about to sing on gold.

See the link in the above quote for a historical chart (cited from the Economist magazine) of the plummeting value of commodities in general over the past two millennia. Iron used be a precious metal in 323 B.C. The value of platinum recently fell off a cliff because electric cars don't need catalytic converters (which normally contain platinum). And the PUBLIC CONFIDENCE in cryptocurrency is rising exponentially (see the above Steemit linked chart) while plummeting for gold as explained up-thread.



What utility?

You can ask the same question about gold. Yet it was already explained to you up-thread that what makes something money is PUBLIC CONFIDENCE that it is money.

You can revisit the education that you ignored up-thread for all the details.

If you hoard all the bitcoins in the entire world, there's no way possible for you to extort me by forcing me to buy into your artificial scarcity scam.

And you sit on your gold in your basement while your stacks of gold and silver decline in relative value to the value of a ham sandwich and we don't care. Enjoy your oblivion.

Nobody wants your precious metals anymore. You can't seem to comprehend such a simple principle. This was already explained in great detail up-thread. You rely on liquid market makers that can be regulated by the government. The common man will not accept your trinkets in payment for goods and services.

Although the common man will end up being kicked offchain from Bitcoin eventually (2024+) by the $5000+ transaction fees (as price of BTC and demand for Bitcoin transactions increase), he will increasingly accept cryptocurrency in general. And Bitcoin is the reserve currency of this brave new world.

However, if I hoard all above ground silver in the world, people actually need it

No we don't. We can mine more of it. And besides technology makes that shit less and less valuable.

For example, soon we will have bots that can bore with A.I. directly on the ore veins and your precious metals are going to plummet in value.

Also see how electric cars have destroyed the demand for platinum, which I cited up-thread.

Of course the following is bad news for goldbugs because the more industrial demand the less monetary are the precious metals, as the recent plunge in platinum has exemplified:

https://www.materialstoday.com/metals-alloys/news/new-platinumgold-alloy-most-wearresistant/

For anyone expecting a dollar short squeeze that Anonymint is always plagiarizing Armstrong's claim about, it damn sure ain't happening right now:

Commercial banks are 40:1 short the US dollar right now, indicating they are front running lots of dollar decline.  In the past, most bitcoin pumps in relation to fiats occurred with yuan decline and I don't recall any real bitcoin movements based on dollar decline.  It seems like if yuan declines, lots of China money flows into bitcoin, which is then sent out of China and into the dollar or Vancouver housing or something.  If dollar declines, the flow into bitcoin for capital flight does not occur.

They are being phased out also by this brave new NWO. They are also thus implicitly short Bitcoin, which exemplifies their decadence.





And to those who continue to be stuck on the power and Internet grid reliability non-issue, read this explanation of your myopia.


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August 29, 2018, 11:20:49 PM
 #79

And what about this:



Please stop denying gold isn't any less manipulated than Bitcoin

Tinfoil hat, aliasing error, delusional nonsense. The peak and decline in gold began because of the start of the strong dollar-short vortex and the rise of the DJIA on its way to 26000 (and ultimately 40,000) as Armstrong correctly predicted back in 2011 and 2012 (despite @realr0ach's lies and cherry picking blogs out-of-context). It was a simple international capital flows phenomenon. There was and is no long-term manipulation of the gold price. You guys don't seem to understand anything about the entropy.

Remember it was @realr0ach stating back in 2016 that Armstrong was going to be incorrect about a rising DJIA and strong dollar. Well he ate his words and lost 4000% of this relative value by selling BTC for silver in October 2016. And now he is going to double-down on that mistake and lose another 1000%, to bring himself into the destitute class of -40,000% relative loses over a span of 5 years or so.

The following exponential trend of Bitcoin is undeniable because it is being adopted as the NWO international reserve currency:

https://steemit.com/trading/@anonymint/most-important-bitcoin-chart-ever (see chart on the linked page)

James A. Donald (aka "Jim", first person to communicate with Satoshi on the mailing list where Bitcoin was first announced) recently explained this adoption pattern well:

For a long time the big demand for crypto currency has been wealthy Chinese evading currency controls, but with the recent crackdown on hate speech, we are seeing massive American and European demand, which directly resulted in the recent spike in crypto currency values.

Another substantial source of demand for crypto currency, which has been around since the beginning, is buying steroids and suchlike over the internet, but the really huge move in crypto currency demand came during the recent crackdown on political activists.






My point was that there are way too many coincidences out there when it comes to futures and charts beginning a decline from all time highs. See:









 Roll Eyes

The fundamental analysis of anonymint (dollar short vortex, NWO stuff, armstrong stuff and so on..) is not incompatible with the possibility of they using futures to manipulate assets. At the end of the day we are all theorizing here with whatever info we have, because I doubt any of us has any insider info. So we all on a tinfoil hat party trying to make the best of what info do we have at reach.

At the end of the day we conclude that Bitcoin is the long term winner anyway.
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August 30, 2018, 12:23:35 AM
 #80

Quote
Please stop denying gold isn't any less manipulated than Bitcoin

Gold is naturally distributed over millions of years.   How could it be manipulated in its source when its a purely natural element.    Do the figures reported year by year get a human bias of course but the major point to gold is that its not really under the control of anyone.

Bitcoin has a hard time arguing with that as its obviously evolved out of direct human engineering.  However its maturing and has come a long way and is the most distributed of all the crypto currencies as I understand it.   I'd still think gold is far more a natural market then Bitcoin.

Obviously I mean the actual presentation and clearance of the resource in both cases.   No point arguing about virtual certificates for Gold or BTC.    The market price for gold does not match up, I agree with that.  China is the worlds largest producer, it does not export gold and it does not report properly so we dont have a price available in FIAT thats accurate for gold probably ditto USD is a mess.
  Until gold is in every day exchange for goods into billions as a currency I think its mostly estimated.    Obviously BTC price is largely decided by speculation more then trade.   The actual gold resource itself in the ground is fairly evenly distributed though




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