OROBTC
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April 11, 2015, 07:14:41 PM Last edit: April 12, 2015, 12:33:46 AM by OROBTC |
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I do not know what is going to happen. But it will probably be bad. Maybe very bad. Preparation of whatever sort possible that makes you comfortable is a must.
Armstrong, IMO, is at least trying to look at the many, many variables that all relate to one another, rather than just looking at, for example, price of oil (inc. futures prices) and gold. If he has his big computers grinding away on how these variables all interact with one another, that is more than almost anybody else on the planet is doing.
Does that give him more prediction power than individuals, even highly skilled ones? I don't know.
But I would be inclined to listen to Armstrong and his debating partner here.
* * *
Re one world currency to enslave us all, well yes it could happen. But I do not think that is a stable outcome, just look at the Euro...
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username18333
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April 11, 2015, 09:09:50 PM Last edit: April 26, 2015, 08:09:34 PM by username18333 |
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An “[𝚘]ne-world reserve currency” (iamback), the G.E. coin, already exists. It does not appear to be an instrument of enslavement.
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TPTB_need_war
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April 11, 2015, 10:09:56 PM |
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An “[𝚘]ne-world reserve currency” (iamback) already exists. It does not appear to be an instrument of enslavement.
Incorrect. Comprehend the opening post of the thread before you write. The dollar does enslave the rest of the world. Are you not aware for example that QE1-3 enslaved the world in a massive short-dollar carry trade? The dollar is a global reserve currency, but it does not have all the salient characteristics of the "one-world reserve currency" that I enumerated in the opening post. Specifically the dollar lacks: 1. All countries believing they are playing a cooperative role in managing that reserve currency through representation on some international board, e.g. WorldBank. And thus not resisting the oppression of the USA (instead they will applaud with smiles their collectivized enslavement). 2. All countries' national currencies freely floating against the reserve currency. Because again they resist the oppression of the USA, e.g. the Yuan doesn't freely float.
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tabnloz
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April 16, 2015, 05:38:25 AM |
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TPTB_need_war
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April 25, 2015, 05:55:35 PM Last edit: April 25, 2015, 08:06:56 PM by TPTB_need_war |
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Some relevant discussion I am excerpting from the Economic Devastation thread: It is true that before the Knowledge Age, the economic incentives (i.e. “efficiency” in your incorrect nomenclature — most economic != most efficient) in the free market were aligned towards a consolidation of stored monetary capital, and since we know the (Max Weber’s canonical definition of the) State controls legal tender through its monopoly on force, this enabled the stored monetary capitalists and State to collude against the People (e.g. oligarchies, monopolies, regulatory capture, etc). The capitalists and the government officers are populated by sociopaths due to the incentives of the power vacuum of control/power we give to our representative government, and we even have a DEEP STATE now behind the curtain for example funded with $trillions that Donald Rumsfeld admitting was missing from Defense budget on the eve of 9/11 (with all evidence and investigators so conveniently destroyed at the Pentagon the next morning by the airplanemissle impact).
However, the Knowledge Age alters the fundamental incentives because production will require predominantly the individuals knowledge and not stored monetary capital. And this knowledge is not transferable nor aided by finance, i.e. knowledge production (not static knowledge but the creation of new knowledge) is not fungible the way manual labor is (see my quoted essays below for the reason).
Autonomous actors in the free market in the Knowledge Age will attempt to maximize their knowledge, but therein is the more crucial distinction from the Industrial Age. An individual can not buy nor take with force another individual’s knowledge. The reasons are explained below in the quotes of my essays.
The only way to aggregate more knowledge in the Knowledge Age is to leverage the knowledge of other experts, i.e. maximizing the division-of-labor.
Knowledge capital will still be non-uniformly distributed (and perhaps even power-law distributed as for monetary capital due to difference in hypermotivation of A-listers compared to B-listers), but the crucial distinction is that it can’t be used as means of theft with force on the collective.
Sorry your ideas are antiquated now and must be retired. Stop being a dinosaur!
Path of least resistance, i.e. most degrees-of-freedom, is not necessary the most efficient even though it may be the most economic. This is because Coasian barriers create economic incentives which are misaligned with maximum efficiency. The 2nd Law of Thermo tells us that the trend of entropy is to maximum, thus efficiency is precisely that which maximizes entropy. Any other definition is hopelessly specialized and insufficiently general.
Discussions about entropic frame-of-reference, referential transparency, and closed systems will have to wait because that is going to require me to get much deeper than I want to write today.
Nonsense on information being conserved. The universe is trending towards maximum entropy. Energy is conserved but efficiency increased or decreased. That proves my definition of efficiency. ▮Q.E.D.
See the pre-Knowledge Age was enslaved by energy conversation. Unlocking unconserved information growth enables the exponential scaling of network effects.
The world is about to change so dramatically that is going to blow your fucking mind! That is why the old world is dying into a one-world reserve currency enslavement paradigm. It is toast. The Knowledge Age is going to obliterate it.
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qiwoman2
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April 26, 2015, 05:17:42 AM |
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I am undecided at this point because countries like England don't want to get rid of their sovereignty and currency and people around the world are waking up. That there are some powers to be keeping 90% of the population in slavery, well you just got to look around at the level of poverty rising... and the rest of the upcoming middle class is too busy thinking about what designer sh*t they gonna buy next to keep up with their neighbors. ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
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Amph
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April 26, 2015, 10:16:07 AM |
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euro then, should be partially responsable of enslaving many countries in the eurozone, but i think it made them stronger at least until the crisis showed up
i would not talk about enslaving, but more about convention, it will be more convenient if everybody start accept a single currency, the discrepancy between states would vanish in this way
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LazerSMS
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April 26, 2015, 06:11:33 PM |
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all nations have to be already enslaved for something like this to happen, and I think it's already the case
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WhatTheGox
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April 26, 2015, 08:25:11 PM |
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I am undecided at this point because countries like England don't want to get rid of their sovereignty and currency and people around the world are waking up. That there are some powers to be keeping 90% of the population in slavery, well you just got to look around at the level of poverty rising... and the rest of the upcoming middle class is too busy thinking about what designer sh*t they gonna buy next to keep up with their neighbors. ![Cry](https://bitcointalk.org/Smileys/default/cry.gif) Nobody has a choice if something like bitcoin started becoming popular, its like a retail business now not participating with online sales in the hope they can still compete. Everyone would get sucked in or suffer.
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coinits
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April 26, 2015, 10:57:17 PM |
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all nations have to be already enslaved for something like this to happen, and I think it's already the case
Flag worship is the biggest religious cult in history. It even catches the atheists in its snare.
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Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 0.01 btc per week.
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BillyBobZorton
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April 27, 2015, 10:55:26 AM |
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One world currency would be the reasonable thing to do, and it would not enslave anyone if the system was fair (ie Bitcoin). The problem is nations, their leaders and their people's ego will not let their stupid national money go in replacement for the superior alternative.
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oblivi
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April 27, 2015, 09:10:42 PM |
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Thats what the guy on xapo said on the ted talk, BTC may challenge gold as a store of wealth, that is way more realistic than challenging fiat national currencies. I tend to agree with this view.
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vvv8
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April 27, 2015, 10:05:10 PM |
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all nations have to be already enslaved for something like this to happen, and I think it's already the case
Flag worship is the biggest religious cult in history. It even catches the atheists in its snare. That is soo true.
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aso118
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April 28, 2015, 12:20:50 AM |
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Thats what the guy on xapo said on the ted talk, BTC may challenge gold as a store of wealth, that is way more realistic than challenging fiat national currencies. I tend to agree with this view.
If BTC replaces gold as a store of wealth, it would automatically be a strong candidate for world reserve currency. If gold could be sent over the internet and used to settle trades, do you think countries would bother with using USD?
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TPTB_need_war
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April 28, 2015, 01:32:43 AM |
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Thats what the guy on xapo said on the ted talk, BTC may challenge gold as a store of wealth, that is way more realistic than challenging fiat national currencies. I tend to agree with this view.
If BTC replaces gold as a store of wealth, it would automatically be a strong candidate for world reserve currency. If gold could be sent over the internet and used to settle trades, do you think countries would bother with using USD? The more salient term you wanted to use is de facto. You've got a scaling problem. $10 billion market cap versus $200 trillion in global wealth.
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aso118
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April 28, 2015, 01:36:57 AM |
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Thats what the guy on xapo said on the ted talk, BTC may challenge gold as a store of wealth, that is way more realistic than challenging fiat national currencies. I tend to agree with this view.
If BTC replaces gold as a store of wealth, it would automatically be a strong candidate for world reserve currency. If gold could be sent over the internet and used to settle trades, do you think countries would bother with using USD? The more salient term you wanted to use is de facto. You've got a scaling problem. $10 billion market cap versus $200 trillion in global wealth. The price of bitcoin is the variable in that equation. Problem solved. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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TPTB_need_war
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April 28, 2015, 01:49:36 AM |
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Thats what the guy on xapo said on the ted talk, BTC may challenge gold as a store of wealth, that is way more realistic than challenging fiat national currencies. I tend to agree with this view.
If BTC replaces gold as a store of wealth, it would automatically be a strong candidate for world reserve currency. If gold could be sent over the internet and used to settle trades, do you think countries would bother with using USD? The more salient term you wanted to use is de facto. You've got a scaling problem. $10 billion market cap versus $200 trillion in global wealth. The price of bitcoin is the variable in that equation. Problem solved. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Simpleton nonsense. Peter R showed the market cap is following Metcalf's law so the only way you can get to that valuation is for it to be widely adopted. Another way of knowing your idea is nonsense, is if 1% held BTC, then the other 99% would need to be impoverished or the global wealth would have to double. The problem remains scaling.
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username18333
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April 28, 2015, 10:27:56 PM Last edit: April 28, 2015, 10:43:13 PM by username18333 |
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The problem remains scaling.
G.E. coins are “spent” into existence in input-less transactions. Accordingly, civil society can (at least, in part) dictate monetary policy.
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TPTB_need_war
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April 29, 2015, 01:38:18 AM |
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The problem remains scaling.
G.E. coins are “spent” into existence in input-less transactions. Accordingly, civil society can (at least, in part) dictate monetary policy. Money supply regulation is not a problem that needs a solution. Any reasonable choice for the debasement rate works equivalently well, because the overriding impact on supply and price is the velocity of money and the demand for the coin. Distribution of minting is a scaling issue, because it is not easy for individuals to trade fiat for crypto-currencies. Paypal I think is planning to make it easier for mainstream to acquire BTC, but the overriding problem remains that most people don't have a reason to obtain it. Transactional demand for usage of the coin is primarily what addresses scaling. Because this also has the Butterfly effect that the more demand, the more people spending, the more people who earn it to spend it, etc..
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username18333
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April 29, 2015, 01:53:03 AM |
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Because this also has the Butterfly effect that the more demand, the more people spending, the more people who earn it to spend it, etc..
GEC could be “mint[ed]” (TPTB_need_war) to someone on another’s behalf (by that same someone or another one) in an out-of-block coinbase (here, input-less) transaction.
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