Can you name a pyramid scheme that was pushed within the Liberty movement?

[presence]

I was almost talked into that isogenics thing by israel anderson... I didn't pursue and I'm glad.

I did get talked into bitcoin. By several members here and I've enjoyed every minute of the ride:

I definately have several tangible things (including this computer) I didn't have before bitcoin.
I still have every bitcoin I ever bought and then some.
And I've long since paid myself back for the initial investment.
And I learned coffeescript and python.

 

[thoughtomator]

There are plenty of markets out there that act like Bitcoin in terms of percentage moves and elliot waves, plus many other patterns.

Name one.

 

[presence]

Name one.

 

[thoughtomator]

Show me something with a 2-month, 1000% move like Bitcoin had... and I'll show you a bubble that ruined everyone who touched it. There is a radical difference in both the timescale and the amount of price change. Oh, and your Bitcoin chart ends with a price that's two and a half times today's price, which was all of four months ago.

Matching the chart with ruinous bubble behavior is not a confidence-builder.

 

[NorthCarolinaLiberty]

I know next to nothing about Bitcoin. Does anybody have a long term chart? Guess I could look it up, but there are probably people here who could post an accurate chart in 10 seconds. Would a graph like this be an accurate representation?

Seems to me that Bitcoin is an endeavor that depends on increasing consensus. Seems like that is happening. I just can't wrap my head around how some of the value is extracted by someone figuring out algorithms. Maybe I'm too dense for it.

 

[thoughtomator]

I posted the coinbase link above. Just click "All" for the time frame and you'll see it from the very start.

If you bought the NASDAQ at the very peak of the bubble, then sold 30 months later at the nadir, you lost 75%-80% of your investment.

If you bought Bitcoin at the peak of its bubble, then sold today which is 13 months later (and almost certainly not the bottom), you lost over 80% of your investment.

More bubblicous than the Fed-induced tech bubble, both in duration and in magnitude - I am completely baffled why any person aware of the Fed's abuses wouldn't run screaming from this.

 

[kcchiefs6465]

I was almost talked into that isogenics thing by israel anderson... I didn't pursue and I'm glad.

I did get talked into bitcoin. By several members here and I've enjoyed every minute of the ride:

I definately have several tangible things (including this computer) I didn't have before bitcoin.
I still have every bitcoin I ever bought and then some.
And I've long since paid myself back for the initial investment.
And I learned coffeescript and python.

You were the one that kept telling me to buy. I should have listened.

Not that I kid myself that I'd have made a killing, but it would have been good experience nonetheless. I would have sold at seventy but no doubt would have kept a few. I probably would have cashed out completely by $200 but who knows.

 

[kcchiefs6465]

I posted the coinbase link above. Just click "All" for the time frame and you'll see it from the very start.

If you bought the NASDAQ at the very peak of the bubble, then sold 30 months later at the nadir, you lost 75%-80% of your investment.

If you bought Bitcoin at the peak of its bubble, then sold today which is 13 months later (and almost certainly not the bottom), you lost over 80% of your investment.

More bubblicous than the Fed-induced tech bubble, both in duration and in magnitude - I am completely baffled why any person aware of the Fed's abuses wouldn't run screaming from this.

Well to be fair, there are some benefits of BTC.

I don't own any, never have owned any, probably will never own any and was one of the biggest critics of BTC.

I am not worried by what people find valuable. Your advice is fine and I'd say even probably correct in the long run. But if people want BTC, and liberty minded folks made a little bit of FRNs from it (to hopefully spread about in meaningful ways), meh, -- More power to 'em.

 

[PaulConventionWV]

Pyramid schemes and Ponzi schemes are different. Pyramid schemes are sometimes called multi-level marketing. Didn't Doug Wead plug a pyramid scheme one time? I forget what it was about, but I remember him mentioning as a way to make "extra income."

EDIT: Isagenix. Keith and stuff beat me to it.

 

[PaulConventionWV]

Minarchism.
Intial Cryptocurrency runs before they mature...
Starting to think Free stating might be one...

There was also that plan to build a Ron Paul Pyramid in Vegas in 2008...

You're just naming things you think are bad ideas, not schemes, per se. There is a very specific definition for both pyramid and Ponzi schemes and I know minarchism doesn't fit either one.

 

[fr33]

What I'd like to have seen, when it was being proposed, is a video of Ron Paul being asked about what he thinks of Isagenix. Especially back when his son and former employee were starting to promote it. We ask the "hard questions" here in the liberty movement except for when it is convenient. That was such a scam. I wonder where they got the idea of doing that...

 

[PaulConventionWV]

I know next to nothing about Bitcoin. Does anybody have a long term chart? Guess I could look it up, but there are probably people here who could post an accurate chart in 10 seconds. Would a graph like this be an accurate representation?

Seems to me that Bitcoin is an endeavor that depends on increasing consensus. Seems like that is happening. I just can't wrap my head around how some of the value is extracted by someone figuring out algorithms. Maybe I'm too dense for it.

Not someone, but something. It's just part of the hash. The hash is just a unique identifier that is come up with by solving math problems. The only relevant part is that it is unique and there is only one of it. These are often used for other purposes, but in the case of bitcoin, it simply exists and the fact that it is unique allows it to represent a store of value.

That's my best attempt at explaining it without looking it up. At least that's what I got from it.

 

[muh_roads]

I was so pissed at myself for not selling silver @ $45 in 2011. I was very close to pulling the trigger. Would've tripled the money since getting in 2008. That mini 2009 crash was a blessing. Kinda like BTC below $200 right now.

 

[IanCioffi]

Isagenix was pushed by Doug Wead. http://www.libertynetworkers.com/index.html

what about Mountain Hours?

 

[IanCioffi]

or I should say the "hours" currency

 

[fr33]

what about Mountain Hours?

I don't know if I'd include that. That was an agorist currency only available to people in a certain location. My hometown does a similar thing in order to promote local businesses. It doesn't seem to be a pyramid scheme.

 

[Bryan]

Just a reminder to everyone, while this subject is fair game for discussion please keep it factional and without attacks on individuals.

Thank you.

 

[Bryan]

Well to be fair, there are some benefits of BTC.

Some BTC commentary- the key benefit that I see of BTC is that it offers a means of free market exchange in a society where the government can otherwise control all other such exchanges. It's a way to circumvent tyranny, and that's why it is supported here.

 

[fr33]

Just a reminder to everyone, while this subject is fair game for discussion please keep it factional and without attacks on individuals.

Thank you.

Aww man am I gonna have to read the rules? I'd rather not. Criticizing someone is not an attack.

*Edit: I'm rereading the posts and it's like, what are you talking about? Nobody attacked anybody.

 

[presence]

Show me something with a 2-month, 1000% move like Bitcoin had... and I'll show you a bubble that ruined everyone who touched it. There is a radical difference in both the timescale and the amount of price change. Oh, and your Bitcoin chart ends with a price that's two and a half times today's price, which was all of four months ago.

Matching the chart with ruinous bubble behavior is not a confidence-builder.

I think you just lack some basic understanding of fractaline log growth. BTC has had 7 "bubbles".

are you going to say IBM was a bad buy at $80?

It went from $5 to $140 in 5 years.