The big RESET - will bitcoin be ready ?

[jim618]

This is a thought provoking presentation by Raoul Pal, a hedge fund manager, about the current state of the world economy and banking system:

http://www.scribd.com/doc/95493792/The-End-Game

I just hope Bitcoin will be ready to serve the masses if/when it happens.

[unclescrooge]

Yes it will.
 Bitcoin is what comes next the big reset

[cbeast]

Bitcoin can be part of the solution, but the free-flow of information is the key to progress. I fear the backlash of oligopolists who would rather burn our civilization and industries rather than redistribute wealth. Data and networks must be preserved.

[hazek]

This is a thought provoking presentation by Raoul Pal, a hedge fund manager, about the current state of the world economy and banking system:

http://www.scribd.com/doc/95493792/The-End-Game

I just hope Bitcoin will be ready to serve the masses if/when it happens.

I'm just getting ready to read all of this, I'm delighted to see people in this community follow the correct stuff.

EDIT: Gah I thought this was a more comprehensive read, I didn't really learn anything new, oh well.

[meanig]

Yes Bitcoin is prepared. However I don't think the exchanges are prepared since any kind of capital controls will severely restrict their operations. As a community I think we should be doing more to encourage person to person exchanges.

[proudhon]

People have been predicting this kind of thing for a long time.  Society will route around problems.  Things might get turbulent, but it's unlikely to get anywhere nears as bad as "the end of finance" or "the end of the world".  IOW, chill the fuck out.

[waspoza]

People have been predicting this kind of thing for a long time.  Society will route around problems.  Things might get turbulent, but it's unlikely to get anywhere nears as bad as "the end of finance" or "the end of the world".  IOW, chill the fuck out.

+1

[Gabi]

People have been predicting this kind of thing for a long time.  Society will route around problems.  Things might get turbulent, but it's unlikely to get anywhere nears as bad as "the end of finance" or "the end of the world".  IOW, chill the fuck out.

+1

[justusranvier]

People have been predicting this kind of thing for a long time.  Society will route around problems.  Things might get turbulent, but it's unlikely to get anywhere nears as bad as "the end of finance" or "the end of the world".  IOW, chill the fuck out.

I think it will be very much like the collapse of the USSR but not quite as bad because the average person today has a lot more resources and opportunities available (thus ability to adapt) to them than the average Soviet subject had.

[SpontaneousDisorder]

Its one big Ponzi scheme, and ponzis always collapse. Many people on this forum will attest to that. 

[cbeast]

America is too big to fail.   

[nimda]

America is too big to fail.   

Aztec.
Inca.
Maya.
Rome.
Byzantine.
The Mongol Empire.
U.S.S.R.

 

[proudhon]

America is too big to fail.   

Aztec.
Inca.
Maya.
Rome.
Byzantine.
The Mongol Empire.
U.S.S.R.

 

Obviously they weren't big enough.

[justusranvier]

Obviously they weren't big enough.

It's a good thing we got nearly the entire world in on the debt Ponzi this time. The US, EU, Japan, and the BRIC countries together are surely too big to fail, right?

[proudhon]

Obviously they weren't big enough.

It's a good thing we got nearly the entire world in on the debt Ponzi this time. The US, EU, Japan, and the BRIC countries together are surely too big to fail, right?

Remind me, what does "fail" mean in this context?

[jim618]

Remind me, what does "fail" mean in this context?

If you think of debt as an I-owe-you then "fail" in this context means widespread default or devaluation of the currency in real terms. In simpler English: lots of broken promises.

Promises like:
'I promise to give you a decent pension in return for a lifetime's work'
'All you contractors build me a house/ factory and I promise to pay you back'
'Lend me 5 years of your savings and I promise you will get the capital sum plus interest back'

Argentina in 2001 is probably the closest example I can think of, but writ large. If you google "Argentina corralito" you will get a flavour for the real world effects.

[Vod]

This is a thought provoking presentation by Raoul Pal, a hedge fund manager, about the current state of the world economy and banking system:

http://www.scribd.com/doc/95493792/The-End-Game

I just hope Bitcoin will be ready to serve the masses if/when it happens.

And if Bitcoin ever were to fail, Microcash is there!

I feel so peaceful sleeping at night.   

[SpontaneousDisorder]

The dinosaurs failed, I heard they were pretty big.

[Cosbycoin]

The dinosaurs failed, I heard they were pretty big.

LOL nice one

[niko]

People have been predicting this kind of thing for a long time.  Society will route around problems.  Things might get turbulent, but it's unlikely to get anywhere nears as bad as "the end of finance" or "the end of the world".  IOW, chill the fuck out.

+1

+2