Not if there's no need for gasoline by the time $10 would be the unsuppressed natural price. Implement autonomous electric cars, for example. Heeeeey wait a minute
Peter Schiff - "The dollar is now off ten percent since Trump was inaugurated."
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Not if there's no need for gasoline by the time $10 would be the unsuppressed natural price. Implement autonomous electric cars, for example. Heeeeey wait a minute
Mordan
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Schiff lost it because of Bitcoin and crypto currencies. I am a rationale male with a Masters in computer science. When he debates Bitcoin.. Schiff is a weasel. He is dishonest. At least Ron Paul had the integrity to acknowledge he didn't know enough and his first impressions were wrong.
Bitcoin and cryptocurrencies are the epitome of competing currencies. Schiff keeps spouting Bitcoin has no intrinsic value lol. Like McAffee said, Bitcoin intrisinc value is the network of people using it to store value and use it as a medium of exchange provided you are ready to pay for block space.
I keep reading on Youtube and ZH that Bitcoin is what gold should have been. Well newsflash. Bitcoin is a new asset class that can be stored in your head. Take a minute to let that sink in. If you don't understand how that's even possible. You should do some serious research because you are missing on the biggest bull run EVER. As McAffee said. Cryptocurrency is as big of a leap as agriculture.
Pssst. Don't tell anyone I told this secret, ok?
Bitcoin doesn't exist. It's merely software that records delusional interactions between people that live in a fantasy world. It's imaginary numbers in a computer and you can never store value in something that doesn't exist. And you certainly can't store value in something that can be turned off from your access at a whim or utterly erased from existence.
Besides, the NSA thanks you for your support. Please don't tell me you think the rise of Bitcoin wasn't planned and executed by the same old suspects.
http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
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The key difference is that email can be printed, so can fiat currencies, banks are paper charters, stocks used to be paper certificates and in some instances can still be obtained as paper stock certificates. Cryptos have none of that ability to be tangible, even on a piece of paper, as a tradeable instrument. Pay attention to what's actually happening with all of those instruments you listed. They are being digitized and therefore no longer exist except in your mind and are no longer under your control in any way. Once none of it exists in tangible form (email printing perhaps being the only exception) you then become nothing more than a delusional slave to imaginary constructs, working for literally nothing in return for your labor. The ultimate mind control. Sounds a bit like ancient Egypt or ancient Babylon, no?
Gold as high as 1325 this morning , thinking 1350 now . Not bad considering .
Danke
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Didn't it used to be $35?
Day before Christmas Eve 1971 was 43.42 ( markets were closed Christmas Eve and Christmas Day if I recall ). Reality though in Europe physical was trading above that in London if I recall by a substantial percentege. In 1971 on the farm we sold eggs at 50 cents a dozen and Nightcrawlers at 15 to 75 cents a dozen depending on the customer ( 75 cents for democrats and other riff raff ) . I think probably around 4.27 at walmart you can get a dozen nightcrawlers now . Cage free , organic eggs at the grocer about 4.00 . 1971 just about exactly also coincides with when all the real money ( 90 percent silver coinage )had been picked out of circulation . US quarter and dime coins were last silver in 1964 , halves last some silver 1970 ( 40 percent silver 1965 - 1970) but last silver halves released to banks for circulation were 1969 , the last year of 1970 D you had to buy from the mint and those trade at 10.65 to 14.30 wholesale now or 15.80 retail. Last Canadian ( 80 percent silver ) was 1968 . If I recall the Panamanian halves from the same time would be the same as ours .
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Mordan
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the market disagrees today and the market disagreed yesterday and will disagree with you tomorrow.
The Internet is also a NSA conspiracy to take control of our minds. /s
I don't care what you goldbugs do. I just wrote this post to warn you of the coming explosion. Bitcoin and crypto are going to destroy Fiat.
Here is a video of Andy Hoffman, goldbug who quit gold business after many years and now 100% on Bitcoin and crypto.
Listen what he says. Amazing.
Wow, where to start?
The market? LOL! As if there are no manipulations in the Bitcoin market, as opposed to every other market being rigged to the hilt by the fiat creators. They wouldn't print up some fiat to own the bitcoin market would they?? Naaa, Bitcoin is different.
If by market, you mean similarly deluded people agreeing on a shared delusion then sure, the market disagrees with me. I'd rather not be a participant in that "market", thanks.
No reply to the write-up that clearly shows TPTB were behind cryptos 21 years ago? Or did you buy that whole Satoshi bullshit story? Btw, the military developed the internet. I agree with you that crypto/blockchain is the future imaginary slave "money". I never said otherwise. At least understand the true nature of it instead of being a delusional lemming, thinking that somehow this time it will be different.
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Recent reports, fwiw, are that banks are shutting down accounts of those that are trying to cash out cryptos back into FRN. Coinbase has a prosecutor on their Board now.
Cryptos role as future slave money is established already via globalist white papers. It's not even hidden.
Madison320
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The whole crypto thing cracks me up. At least with bitcoin a few retailers accepted it. As far as I can tell nobody accepts the new cryptos as payment. The market has completely dropped the pretense that it may actually be useful. Now it's pure speculation.
Mordan
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Watch the Video above. The goldbug turned crypto bug explains the use case. It is a new form of money. That's the use. A money that cannot be controlled by a central authority. A money that can be stored in your head. A money that that can be exchanged on the internet.
You forgot the huge Darknet markets that were the first to use Bitcoin and still use it. Now they are also using Monero which is totally private. A cryptographic wonder. The IRS won't like Monero at all.
Right now Bitcoin is a store of value. It works pretty well.
Zippyjuan
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How does one store bitcoins in their head? By memorizing its entire code?
Mordan
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you remember the private key of a public address where you send coins to.
At any time in the future you can launch a wallet, import the private key and access the funds located there.
In Bitcoin all transactions are public on the ledger. https://blockchain.info/ is one of the many sites that allow you to browse the Bitcoin blockchain.
Usually people don't remember the private key. They write it down on a piece of paper or use a software wallet.
You can prove that you own a private key by signing any message with the private key. Anyone can verify that the signature and the message matche using your public key.
EDIT: a private key looks like this : L3aSCXbu5Ra346VEN2XdTtT7J7Ka3RxsaLXNFYa8PPyrxChBar7e
EDIT2: there are schemes to match words to private keys.. called HD wallets. more complicated stuff but the idea is the same. just more convenient. My monero wallet is stored inside a seed of 24 english words. I saved the seed in a encrypted container. I don't trust my memory.
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Zippyjuan
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How long is this "private key"?
https://en.bitcoin.it/wiki/Private_key
So it isn't in their head as suggested. Worse than a credit card number. Thanks for the info.
One of the factors which will keep something like bitcoins from gaining wide acceptance is its complexity. Too hard and inconvenient for most people to try to use. People hate their bank password system enough already.
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