Money Talk

The magical fairy dust known as Bitcoin is back in the news as its price has soared to a record high in the last few weeks. Currently one bitcoin is worth 35,000 USD, which is close to double its value of a month ago. If last spring, when the Covid panic hit, you decided to get into Bitcoin, thinking it was a safe haven for your money, your return would now sit at 700%. Of course, if you were an early adopter when the price was a few hundred dollars, then you are now quite rich.

Of course, whenever Bitcoin is on the rise, the paladins of cryptocurrency are out evangelizing about the glorious future where currency is no longer controlled by those evil bankers rubbing their hands in their secret lair. Karl Thorburn has been making the rounds on this side of the great divide. Here is a podcast he did with Greg Johnson last week that is worth a listen. Bitcoin is popular among dissidents, because the bankers cannot get you deplatformed from it like they do with credit cards.

One problem with Bitcoin is right there in those huge gains. There are wild swings in its value as people rush in and out of it. Three years ago, Bitcoin had a similar surge then lost half its value over the next six months. A similar boom and bust happened the following year. As a means of exchange, it suffers from the same problem that all commodities suffer. That is, it tends to increase in value over time, but it also suffers from the cyclical tendency we see in these booms and busts.

One reason for this is that all cryptocurrencies are designed around a math problem that gets exponentially harder to solve as time goes on. Put another way, each new coin costs more to produce than the previous coin. If the first coin cost X, the next coin costs x+n with n being the slight increase in cost to produce it. If the first ten coins average out to 10 USD and the next ten are 20 USD, then the average value of each coin has gone up by 50% just by the mere fact of their creation.

Demand for Bitcoin, however, has tendencies that do not always correspond with the supply of Bitcoins. That explains the cyclicality. For reasons that have nothing to do with the inherent value of Bitcoin, demand rises, so the price rises with it. At some point, people with Bitcoin begin to cash in and the price starts to fall, leading to a rush for the exit as we see with any asset bubble. Like hard money, Bitcoin has cyclical tendencies that get increasingly wild over time.

The other problem with Bitcoin, in terms of it replacing dollars or euros as a currency is that it is not actually money. It can be used as a medium of exchange, but only because governments tolerate it for now. Otherwise, it lacks the key attribute that has defined money since the Phrygians started producing coins. It lacks the backing of a sovereign who will enforce its value. Legal tender is an item that must be accepted as payment and that is enforced by a government with a monopoly of force.

Now, this does not mean that things like gold or precious stones cannot be used in exchange, but they are not legal tender unless the government of the jurisdiction where the exchange occurs agrees to it. In the United States, for example, it is illegal to demand payment in gold. The legal tender of the United States is those bits of metal and paper we carry around with us. A check or credit card is just involving a third-party (the bank) to pay the merchant in dollars.

Now the crypto-evangelists always respond to this point by saying that governments can’t do anything about cryptocurrencies. That’s the beauty of them. Because their creation is independent of government and their value is set in the marketplace, the state cannot prevent people from using Bitcoin. They will also note that Bitcoin is anonymous, so the state will have a tough time tracing the source of Bitcoin, even if they try to crack down on its use and possession.

This argument has several problems, one of which should be obvious. The government can simply arrest people for using Bitcoin and throw them into prison. If merchants are told it is unlawful to accept Bitcoin, they stop taking Bitcoin. There is a reason no merchant accepts gold dust for payment. Not even a pawnshop will accept gold as a form of payment and most of them trade in raw gold now. One necessary quality of money is that it be widely accepted for payment.

Governments have a primarily interest in protecting their monopoly on the supply of legal tender. This goes to something called seigniorage. This is the profit the sovereign makes from the issuing of money. In the days of gold coin, the miners of gold brought their bullion to the king’s mint, where it was turned into coins. The value of the coins was more than the value of the bullion. This is one way the king could finance his government, without having to physically control the gold supply.

In modern times, seigniorage has evolved into something else, namely the stability of the money supply, especially in relation to other currencies. A stable money supply makes for stable credit markets. The standing and legitimacy of a government is determined by the stability of its currency. This is why central banks have become the most important institutions on the planet. It is also why the major central banks will never cede control of the currency to cryptocurrency.

Note that stability does not mean fixed. The supply of money in its various forms can expand and contract. When the Fed changes interest rates, they are changing the supply of one or more forms of money. This is done in concert with the European Central Bank within an agreed upon structure. This means the supply of money is stable in that it is predictable. In the Covid crisis, everyone knew the central banks would aggressively expand the money supply in response.

The response to this is usually something about the immorality of government manipulating their currencies to finance debt. While true, the morality of the crypto advocates is not the morality of the people in charge. Since the people in charge have a monopoly of force, it is their morality that matters. The golden rule of power is that no one is ever talked out of retaining power. The United States gives up its control of the currency when someone more powerful takes it away.

There are other problems with crypto that prevent it from becoming anything more than a digital tulip bulb. Money, by definition, is self-verifying. You can examine currency and determine if it is authentic. Crypto requires a third party to validate the coin. That is done by examining its provenance. Each use becomes part of the coin’s validation, so it carries the history of its usage. The argument here is that government cannot access this, but the threat of prison will easily solve this problem.

The bottom line is money is about power. A ruler powerful enough to issue his own coin is powerful enough to enforce its use. The more powerful the king, the more valuable his coin, even outside his realm. This has always been true and will remain true. The reason the dollar is the world’s reserve currency is that the rulers of the American empire are the most powerful and the most predictable rulers on the planet. The Euro is the second reserve currency for the same reason.

That said, crypto is not worthless. For dissidents looking to get around the financial restrictions placed on them by agents of the state, crypto is a solution. If you are looking to invest in a risky asset, Bitcoin is a good play. Over time it will keep going up, but in between it will be a rollercoaster. If you like that action, then crypto is a cheap way to get it. If you want to anonymously fund a dissident, crypto is also a good way to give someone money without easily exposing your identity.


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Barnard
Barnard
17 days ago

I threw a small amount of money in crypto Monday morning and I am up 20% right now. I assume the rug will get pulled out from under this at some point by the feds, but maybe not. Jamie Dimon is setting up a crypto currency through JP Morgan after calling Bitcoin a scam several years ago. The big banks and the government may opt to try and control this instead of crush it.

Glenfilthie
Glenfilthie
Member
Reply to  thezman
17 days ago

Correct. “A ruler powerful enough to issue his own coin is powerful enough to enforce its use. The more powerful the king, the more valuable his coin, even outside his realm.” America is about to crown a potato for its president, and a trollop for its VP. Its ruling class is peopled by similar cretins. There is now a voracious power vacuum in both our nation’s capitals, and only a motley crew of queers, pedos, and unstable psychotics to fill it. The stage is set for big changes. In short order, for the short term… any investment or transaction you… Read more »

David Wright
Member
Reply to  Glenfilthie
17 days ago

FWEEEDOM!

Bartleby the Scrivner
Bartleby the Scrivner
Reply to  Glenfilthie
16 days ago

Good points all.

i would include arable land in with that. You can’t eat dollars or bitcoin.

Citizen of a Silly Country
Citizen of a Silly Country
Reply to  thezman
17 days ago

Actually, JP Morgan and other companies setting up their own cryptocurrencies is an interesting aspect to all of this. I don’t claim to know anything about cryptocurrencies, but let’s just say that they are the equivalent of a king/country minting their own coins. You have JPM Coin and Facebook’s Libra. There may be others. My point is that several of the big Wall Street and Silicon Valley oligarchs are beginning to mint their own coins. Normally, the big concern with this – as with Bitcoin – is that the government can shut them down, but, perhaps, these oligarch cryptocurrencies are… Read more »

Glenfilthie
Glenfilthie
Reply to  Citizen of a Silly Country
17 days ago

Interesting. With power like that though… what point is there in having a king? Consider: you’re a Zuckerface or Bezos. Washington bends to your every command… for a fee.
At this point the sham is obvious, the number of red pilled normies is exploding exponentially. Washington is rapidly turning into an increasingly dysfunctional liability. At some point an effort to cut them out of the deal will be made… and perhaps that is what we really saw with Trump?
The swamp is in the eye of the beholder…

skeptic16
skeptic16
Member
Reply to  Glenfilthie
17 days ago

The king takes the blame when things go wrong. Then he is replaced. Also need a spokesfigure for their edicts. Meet the new boss, same as the old boss. Meanwhile, pay no attention to those lords of finance.

Ben the Layabout
Ben the Layabout
Reply to  skeptic16
16 days ago

 actually the successful King has a convenient scapegoat and remains in power. Read Machiavelli for details.

Educated.redneck
Educated.redneck
Reply to  Glenfilthie
17 days ago

Because the DOJ can arrest Zuckerbezos and throw them in a deep, dark hole at any time, and I dont care how many exSF body guards you buy, they aren’t going to face down the FBI HRT for yah. It’s the same as the NCAA racket: there are 3000 pages of rules so that if you get on their bad side, they can jam you up on whatever violations they can find (and they can always find some) until you relent. You play ball, you get filthy rich. Try to screw around or cut the other guy out, the system… Read more »

abprosper
abprosper
Reply to  Educated.redneck
16 days ago

As Mal Reynolds once said “Half of everyone are middlemen and they don’t take kindly to being cut out.” As for the dark hole, yep. Absolutely. That is till the tech lords start selling combat robots and war gear If you think that “certain people” won’t have a kill switch in them you are nuts “Sorry unlawful target.” and you can sure still send human HRT guys but given what happended the last time the FBI had big losses in 1986. It falls apart. Worse they’ll know who the friends, family and allies were and something akin to an automated… Read more »

Falcone
Falcone
Reply to  Educated.redneck
16 days ago

Much wisdom in this comment

c matt
c matt
Reply to  Glenfilthie
16 days ago

I don’t know, the gov’t-oligarch partnership has worked pretty well for most of them so far. Why mess with it?

Educated.redneck
Educated.redneck
Reply to  c matt
16 days ago

There’s always some greedy bastard who wants a 26% slice instead of his 25%. That’s why the system is self-reinforcing to keep equilibrium. See what Pence and McConnell are doing today for an “In Real Time” example. They know what side of their bread is buttered by the system.

tarstarkas
tarstarkas
Reply to  Citizen of a Silly Country
17 days ago

They have lots of influence, there is no denying that. But the king can do something they cannot do. The king can order they be shot on sight or thrown into a cell.

Citizen of a Silly Country
Citizen of a Silly Country
Reply to  tarstarkas
17 days ago

Well, that’s going to be the fun thing to watch. The nobles back in the day had their own armies that were loyal to them. Our oligarchs only have money. Once in office, what happens when President AOC or someone similar realizes that she can sick the Justice Department or the FBI on Zuckerberg or Dimon. Will the other oligarchs fight back by threatening to withdraw money from AOC? If they do, will she just send agents to their house as well? Can the oligarchs control their POC pets with just the threat of money or will those pets realize… Read more »

Educated.redneck
Educated.redneck
Reply to  Citizen of a Silly Country
17 days ago

Google has over 100,000 employees. Amazon has millions of employees. Soon, if not already on a limited scale, Big Tech will provide the campaign funds, volunteers, and votes to install politicians, just as the union bosses did in the olden days. Two guesses on how those politicians rule.

Educated.redneck
Educated.redneck
Reply to  tarstarkas
17 days ago

Yes, but if the king does that, his hundreds of millions of dollars in consulting, board, book, and speaking fees vanish. Obama is worth hundreds of millions now, because he played ball. Clintons got hundreds of millions too, as did the Bush Crime Family. You squeeze, you get squeezed. You stroke them, they stroke you back.

The Wild Geese Howard
The Wild Geese Howard
Reply to  thezman
17 days ago

Always do the exact opposite of any public statements made by JP Morgan and Goldman Sachs.

DLS
DLS
Reply to  The Wild Geese Howard
17 days ago

This actually has some science behind it. You only learn about their recommendations after they have traded out the inefficiencies, and the other lemmings create a bubble. Doing the opposite takes advantage of the inevitable correction.

DLS
DLS
Reply to  thezman
17 days ago

They do tell you the correct information, but after they have made their trades, and any advantage has been priced in. The bandwagon effect then gives them a nice bump in their returns.
I recall someone tracked the returns of that Cramer guy on CNBC, based on every recommendation he made for a long time period. He basically performed at the market rate of return, which is pathetic given his twin advantages of 1) the bandwagon effect and 2) the risk premium he should have earned due to a more volatile set of holdings.

Last edited 17 days ago by DLS
Herbert Marcuse
Herbert Marcuse
Reply to  thezman
16 days ago

The magical fairy dust known as Bitcoin

The moast important day in the history of /Our/ Republic, and retired jewish SUNY professor of behavioral psychology, (((Zman))), tries to redirect the spergtarded defeatest goyische idiots via the “Look, Squirrel!!!” psycho-sociological gambit.

Hey (((Zman))), check out what the real Patriots are doing to (((your))) precious (((democracy))):

comment image

Eat that, you filthy stinking (((yid))).

Falcone
Falcone
Reply to  Herbert Marcuse
16 days ago

Most important day my ass

Educated.redneck
Educated.redneck
Reply to  Falcone
16 days ago

Next comes the anti-right crackdown, then during left wing consolidation the anarcho-tyranny goes up to 11 and the right wing’s support of the system goes to 0, then the complete defeat of the GOP and we enter one party rule, then the “and your little dog too/because I can” legislative, law enforcement, financial, and social oppression, then the backlash. This is a long slide down, buckle up. Ask the Spanish.

K Wall
K Wall
Reply to  Educated.redneck
16 days ago

In an alternate universe, we didn’t “trust the plan.” Instead, we seceded and formed our own country back when we had the chance. That society removed the left from society whole-cloth (via emigration and legislation), so now that society has freedom and liberty instead of the tyranny of the USSA.
… what could have been. Was staying and fighting over scraps (and losing in the end) really worth it?

sentry
sentry
Reply to  Falcone
16 days ago

i do believe this day will affect the minds of many whites when trump bails on them, they’ve wasted so much energy on trump, who’ll let them down(cause he’s a puppet).
Also, protests without violence are useless, when in history has anyone achieved anything through peaceful protesting. Protesters should’ve brought guns, then things would’ve gotten interesting.

KeepTheChange
KeepTheChange
Reply to  Falcone
14 days ago

It was a very important day … the last chance, however small, to stop this stolen election and those people were there to support that effort. I’m not sure what Herbert Marcuse’s angle is, but Zman is a bit overprotective of jewish malfeasance … I’ve definitely noticed that.

KeepTheChange
KeepTheChange
Reply to  Falcone
14 days ago

Did you see where Simon &Schuster has cancelled their contract to publish Josh Hawley’s book? Ironically, his book on Tech censorship is being censored! By the usual suspects … hmm.

Dinothedoxie
Dinothedoxie
Reply to  Herbert Marcuse
16 days ago

They’re being used as useful idiots to advance the progressive narrative.

Citizen of a Silly Country
Citizen of a Silly Country
Reply to  Barnard
17 days ago

The investor Chris Cole probably got Bitcoin about right. He figures that Bitcoin is a lottery ticket investment. It’s either going to earn you 100X or go to zero, so why not keep 1% or 2% of your portfolio in it. If it goes to zero, no big deal. But if it hits, even a 1% or 2% allocation will dramatically improve your returns.

That said, I’ve never invested in Bitcoin.

Au Jus
Au Jus
Member
Reply to  Citizen of a Silly Country
17 days ago

The asymmetry of the trade is what intrigues me. It is a speculation but I’m comfortable with that. I don’t trade I just, to use the vernacular, hodl.

Altitude Zero
Altitude Zero
17 days ago

The whole bitcoin thing is a lot like Curtis Yarvin’s idea of the “Multiversity”, an institution (or website, it was never really clear) that would enlighten the people with politically incorrect truths, and hence weakening the regime. There’s no doubt that spreading the truth is an important part of any strategy, but we all know that the second any such site or institution started seriously inconveniencing the powers that be, it would be shut down ASAP. Same with Bitcoin. It’s good for what it’s good for, but it’s not “The Answer”, any more than Yarvin’s hobbyhorse was.

TomA
TomA
Reply to  Altitude Zero
17 days ago

And the key lesson to be learned from this example is that if you seriously wish to degrade a corrupt government, you must do so surreptitiously and not with a clear target painted on your back.

Dinothedoxie
Dinothedoxie
Reply to  TomA
16 days ago

You’ve got to do it from the inside.

Jack Boniface
Jack Boniface
Member
17 days ago

Bitcoin is too risky. I’m investing in tulips.

David Wright
Member
Reply to  Jack Boniface
17 days ago

How many bulbs would you like?

Paintersforms
Paintersforms
Reply to  Jack Boniface
17 days ago

I’ve got some extra saffron bulbs. Worth more than gold by weight for some reason.

Ivan
Ivan
Reply to  Paintersforms
17 days ago

I’m just mad about saffron.

Quentin Vantassle
Quentin Vantassle
Reply to  Ivan
17 days ago

You so old!

Paintersforms
Paintersforms
Reply to  Ivan
17 days ago

I remember when Mellow Yellow was the southern Mountain Dew. Kid me wondered why somebody would write a song about soda 🙂

Stranger in a strange land
Reply to  Ivan
17 days ago

Quite rightly

Karl McHungus
Karl McHungus
Reply to  Ivan
16 days ago

haha good one.

Epaminondas
Member
17 days ago

Maybe it’s just me, but I’m not putting my money into something I cannot understand or control. At least I know what a tulip bulb is.

Penitent Man
Penitent Man
Reply to  Epaminondas
17 days ago

If you don’t understand Zman’s point about crypto not being an unassailable safehaven against tyranny let me boil it down for you.

For most of you, the ideas you have about God, nation, country and race would, 35 years ago, place you in the majority and by most measures you’d be considered “good people”

Those same beliefs y’all hold now make you unemployable, dissident, subversive and possibly amenable to prosecution.

Falcone
Falcone
Reply to  Epaminondas
17 days ago

Same here. And what if you can’t access the internet? I would never want my fortune dependent on me having 24/7 access to the internet. I lose signal driving through canyons as it is. Power outage hits and you’re screwed like a Tesla owner

bottom line. Bitcoin is valued in dollars. Dollars aren’t valued in Bitcoin.

Gunner Q
Reply to  Falcone
17 days ago

That’s the big problem of Bitcoin for me. You need internet access to make transactions. The Bitcoin itself might be anonymous but you’ll need a gatekeeper just to get into the marketplace in the first place.

CompscI
CompscI
Reply to  Gunner Q
17 days ago

Exactly. That’s why I still tend towards gold and silver in a SHTF scenario. Yeah, G&S are not “investments”, but in uncertain times—who the hell is gonna part with a usable commodity (gas, food, car repair) for a handful of greenbacks (IOU’s)?

And when/if all exchange transactions become digitized by edict—or simply “technological advancement”, how would you avoid complete monitoring of your economic life?

We talk of building small, closely knit communities of like minded people. How could economic independence occur in an environment totally dependent upon a government for its medium of economic exchange?

Apex Predator
Apex Predator
Reply to  CompscI
17 days ago

As has been speculated in a lot of post apocalyptic fiction that actual currency of a post collapse society will likely not be shiny metals at least in the first few years where even those would have little value. The currency of the early post collapse will be measured in calibers. Because that currency has immediate life-saving value. 9mm will be your George Washington and .223 will be your Andrew Jackson. If you are existing in a country w/o government and have some extra food to trade to a stranger on the road who doesn’t decide to just kill you… Read more »

Last edited 17 days ago by Apex Predator
Mockingbird
Mockingbird
Reply to  Apex Predator
16 days ago

The Road is well written like all of Cormac McCarthy’s works but it’s a sad, scary symbolic apocalypse fantasy, not a preview. A better preview, because factual, is Solzhenitsyn’s Gulag Archipelago, which shows that even in the worst conditions people survive through communities. This is Zman’s message for these gates-of-Vienna times–keep forming communities. Take advantage of the internet while we can to connect with like-minded individuals so they are no longer just individuals.

Gunner Q
Reply to  Apex Predator
16 days ago

“The currency of the early post collapse will be measured in calibers.”

You lost me at arming random strangers who might not always be friendly. If you’re only going to trade with trusted allies anyway then you don’t even need a currency.
Alcohol and cigarettes have a proven record as currencies for day-to-day trading in a SHTF scenario.

abprosper
abprosper
Reply to  Apex Predator
16 days ago

Under no circumstances is ammo to be used as currency in SHTF. Every transaction with anyone you don’t have long standing ties to is a fraught with risk as the sketchiest drug deal. Assuming anyone you meet will behave like a Fallout Raider and try and kill you for your stuff at some point is just sound. Extra ammo is for your people and you’ll never have enough of it. Eventually market towns will spring up or some areas where trading is safe and possible will occur. In those cases trade ammo you can’t use for ammo you can or… Read more »

Apex Predator
Apex Predator
Reply to  abprosper
16 days ago

Extra ammo is for your people and you’ll never have enough of it.

Kind of my point which I think people took too literally. My example was probably bad re: rando stranger. My point is that ammo will become ‘king’ as a currency in a de facto manor. So ok, trade it within your walled enclave. Gold/silver for external trades, happy now? But everyone will know that ammo will be the most fungible and most valuable asset you possess to be traded for the best goods whereas gold/silver will be nowhere near as valuable initially.

Educated.redneck
Educated.redneck
Reply to  Apex Predator
16 days ago

German occupation of western Europe is a closer analogy to what we will face. You’ll need gold, booze, and diamonds to get the “equity redistribution inspector” to ignore the fact you and yours aren’t starving like the townfolk, and to ignore that for some reason your house is the only one in the area that escaped the roving Vibrants. Trying to bribe the Commissars of Woke with ammo will be a hilarious slapstick routine that ends with you sitting in a camp or rotting in a ditch. Your resources will be needed to evade being “noticed by the people in… Read more »

Educated.redneck
Educated.redneck
Reply to  CompscI
17 days ago

Yep. Bullets, food, fuel, etc. All the stuff the French and Dutch Underground smuggled on the black market during german occupation are a good idea to have. Collapse isnt necessarily the most likely outcome, and the same “teowaki” items are equally useful to staying alive under oppressive occupation.

Member
Reply to  CompscI
16 days ago

Zman’s point about the government “just throwing you into prison” for using Bitcoin is valid – until it isn’t. The problem with any government doing that is that at some point it becomes a matter of making war on ants. As the government diverges further in its priorities from those of normal people it begins to find that, while people seldom confront it directly, they (at least the ones with any independence of mind) all tend to have schemes running in the background to dodge most of its influence. This was the end point in the Soviet Union. People still… Read more »

Educated.redneck
Educated.redneck
Reply to  pozymandias
16 days ago

As the uppity preppers say, if you’re getting to the planning stage now, the grasshopper better better bring big bars of gold (and proof of ideological purity) to get the barest of help from the ant who thought ahead. M4 16″ barrels are a good idea, too; you can make a lot of things in a garden shed, but chromoly barrels ain’t one of them. There’s lots of speculation that the left is going to try to Holodomor the rural areas.

Falcone
Falcone
Reply to  Gunner Q
17 days ago

You need an internet escort, essentially

Educated.redneck
Educated.redneck
Reply to  Gunner Q
17 days ago

Sure, but that’s everything. The USD, Euros, Pesos, whatever is only useful if you can go to a physical merchant to exchange it for goods. You can’t necessarily do that now or in the near future, can you, without a “covid passport” and a tracking/monitoring app on your phone? Or gold: your bullion is worthless unless you find someone to buy it and can get the metal to them. Same for a credit card, or crypto, you can only use it if you can connect with a willing taker. As an enemy of the Enemy, you could be cut off… Read more »

Educated.redneck
Educated.redneck
Reply to  Falcone
17 days ago

True, but speculation in Btc this spring got me a new used chevy pickup. Take advantage of the bustout as they loot our former country: we’re going to need every scrap we can scrape together.

abprosper
abprosper
Reply to  Falcone
16 days ago

I don’t trust bitcoin for a lot of reasons already well elucidated here Truth is after today and things get to stroppy I’m not sure the internet would be reliably on for much longer After Pence punked with the electors which was entirely expected, apparently pissed off Right Wingers enough that they storming the capital building and have pushed through multiple layers of defenses. I’m not sure what to make of the footage shown on Gateway Pundit and it could be just riot season . However I’ve never seen middle aged and older White men riot before and yes I… Read more »

Last edited 16 days ago by abprosper
tarstarkas
tarstarkas
Reply to  Epaminondas
17 days ago

Bitcoin is far too complicated to ever be a widespread medium of exchange. The stories are always changing too.
When I see they have run Bitcoin up to 35k, I just shake my head at myself for not buying back when it was consistently under $100.
But there is a whole lot of crazy stuff getting stupid amounts of money thrown at it. Maybe all just another sign of the money bubble.

Epaminondas
Member
Reply to  tarstarkas
16 days ago

Bingo. The flood has to go somewhere. And the first thing the new regime will do is print more greenbacks.

Last edited 16 days ago by Epaminondas
TRX
TRX
17 days ago

The fools! I’m putting *my* money in tulips!

Yak-15
Yak-15
17 days ago

The first law of monetarism is that the bad money drives out the good. At this stage, the value of bitcoin is not so much increasing, as is the converse – the decline in prospects of stable reserve currencies as MMT and other financial experiments come into vogue. Because of our post-scarcity society, inflation manifests itself through asset inflation. And that is what we are seeing. And this is why the value of these coins will continue to surge. For a while. Eventually, governments will come after them and depress the value… on the short term. China tried this. South… Read more »

Last edited 17 days ago by Yak-15
Member
Reply to  Yak-15
16 days ago

This is what I think as well. In fact I’ve used BTC and the other cryptos as a kind of informal poll of the smart and cynical about the stability and legitimacy of our government(s), so much so that when my BTC is shooting up, I check the news to see what fresh insanity is afoot. The current run-up has tracked the election chaos and stimulus freebies pretty well. More chaos and free money, fatter BTC. This is all part of the larger problem you mention, asset inflation. Why is housing so ridiculously expensive? Well, what do we call that… Read more »

Mamie Comehome
Mamie Comehome
Reply to  Yak-15
13 days ago

According to Catherine Austin…the financial poobahs are phasing out paper and coin; digital is the future, whether we like it or not. Old school types (in this instance, read independent thinkers) will always keep several media of currency, I think. Great challenge to ponder.

David Wright
Member
17 days ago

Molyneux rubbed some of his listeners noses in this investment telling them that he told them years before to get into bitcoin when it was cheap.
Smart guy saying this to people he begs money from.

Hank
Hank
Reply to  David Wright
17 days ago

If you want to listen to something sad and pathetic, listen to Molyneaux. All he does now is take listener calls, and has the same idiotic advice about how everything is the listener’s parents fault and the principled “libertarian” stand is disconnecting from them. There is literally no more content about current events or big think philosophical/moral/science issues. He clearly lost any sort of passion he had for podcasting and by and large hates his audience, but simultaneously needs the cash bad. But because of bans and terrible content, he can never recreate the wonder years and huge cash of… Read more »

Citizen of a Silly Country
Citizen of a Silly Country
Reply to  Hank
17 days ago

Haven’t listened to Moly for years. He had some interesting “truth about” podcasts, but his libertarian outlook, well really his inability to move past his libertarian outlook, got too frustrating.

I always guessed that he was trying to stay on the good side of YouTube, which, in the end, didn’t help him anyway. He’s a good example of what happens to CivNat types who think that they can continue to hide from the Progressives. Those days are over. You either confess your sins or you’re banished.

Educated.redneck
Educated.redneck
Reply to  Citizen of a Silly Country
17 days ago

Stop punching right. If you have a substantive and helpful critique, voice it. If you just want to publicly twist your panties because everyone isn’t as far right as you are, please keep it to yourself.

Citizen of a Silly Country
Citizen of a Silly Country
Reply to  Educated.redneck
16 days ago

It’s not about punching right. It’s about intellectual honesty. I don’t believe that Moly is a gatekeeper exactly, but I find it hard to believe that he walked up to the line of ethnic differences and culture being downstream from biology, and he continues to be a libertarian/colorblind CivNat. But, hey, Steve Sailer still seems to be HBD-aware CivNat, so who knows maybe Moly really believes what he says he believes. In the end, he helps our side, so I’m fine with him. But he’s an entertainer first and foremost, so I’m always a bit skeptical. As to punching right,… Read more »

abprosper
abprosper
Reply to  Educated.redneck
16 days ago

Its a good point but Libertarians like Molyneaux are not Right Wing.
Libertarianism is an inherently individualistic Left wing philosophy only with more corporate rape on top of that.
The DR is broadly Socially Conservative, Traditionalist and Economically Nationalist not Libertarian.

Paintersforms
Paintersforms
Reply to  Hank
17 days ago

He didn’t stand up to the censorship and it’s costing him now. It got hard to listen to him talking around and eventually avoiding certain subjects. Hope he finds his mojo again, wish him the best.

sentry
sentry
Reply to  Hank
17 days ago

did molyneux ever say anything interesting? I watched him way back, before trump got elected, he just kept on annoying me with his interpretation of aristotle and the importance of not spanking kids.

Last edited 17 days ago by sentry
Wolf Barney
Wolf Barney
Reply to  sentry
17 days ago

Yes, Molyneux did say interesting things. Or at least had some very interesting guests, such as the series he did on race differences. He did several interviews on the subject with people like Helmuth Nyborg, Linda Gottfredson, Steven Hsu, Charles Murray, Jason Richwine, Jared Taylor, and others. He also did a video, which is now gone, announcing he was now an ethno-nationalist. This was all pre-purge of course. I’m not sure why he’s so timid now. It’s not like youtube is going to take him back for being obedient.

Citizen of a Silly Country
Citizen of a Silly Country
Reply to  David Wright
17 days ago

I’ve always hoped that Steve Sailer got some of the Bitcoin gravy train. He’s been accepting it for a long time. Maybe he kept a few coins around.

(((They))) Live
(((They))) Live
Reply to  Citizen of a Silly Country
17 days ago

Someone sent the Derb a few coins a few years back, AFAIK he still has them

Educated.redneck
Educated.redneck
Reply to  David Wright
17 days ago

Come on, David. We all whinge endlessly about being thrown into the void for badthink, and you cut down a guy who found a way to float in the void without sinking? Yes, charity to your own brothers is a virtue, especially the truthtellers doing the yeoman’s work of bringing our people across the river. What’s he supposed to do, get a Simon & Schuster book deal, maybe a netflix show? Come on.

David Wright
Member
Reply to  Educated.redneck
17 days ago

How about him quit scolding his viewers. Of course since his banishment I am not sure what he is doing.

Hun
Hun
17 days ago

Cryptocurrencies (the tech) are a totalitarian dream. Every transaction tracked and stored forever, the information immutable, unless you own the processing power.
Once the technology matures and can actually handle high traffic without using up all energy of a small country, the governments will issue their own cryptocurrencies as the only legal tender, while outlawing paper money and all non-government cryptos.
Anybody caught providing processing power to non-government cryptos will be considered a counterfeiter.

Jack Dobson
Jack Dobson
Reply to  Hun
17 days ago

Yep. From Z:

 The government can simply arrest people for using Bitcoin and throw them into prison.

Monopoly of force allows monopoly of the currency. It is the bottom line.

Epaminondas
Member
Reply to  Hun
17 days ago

You could say much the same thing about credit cards. If TPTB decide to get rid of paper currency, everything becomes trace-able through debit and credit cards. So, same thing. They are already promoting this idea.

Last edited 17 days ago by Epaminondas
Hun
Hun
Reply to  Epaminondas
17 days ago

Technology of crypto-currencies is much more robust than the mess that is the current banking software. It also has a lot more rabid fans that will love their enslavement.

Bilejones
Member
Reply to  Epaminondas
16 days ago

An unexpected ally in the :Keep Cash” movement came from the Central Bank of Austria
https://www.zerohedge.com/economics/austrian-central-bank-unleashes-pro-cash-attack-ecbs-digial-euro-agenda

The clearly recognize the dangers.

The Wild Geese Howard
The Wild Geese Howard
Reply to  Hun
17 days ago

Precisely.

Near to medium-term dissidents need to focus on cash, bullion, tradeable items, and tradeable skills.

skeptic16
skeptic16
Member
Reply to  Hun
17 days ago

The cryptocurrencies like bitcoin offer anonymity. Not so with the digital Dollar envisioned by the Fed.

Hun
Hun
Reply to  skeptic16
17 days ago

Bitcoin isn’t anonymous. And even if it were, it would be irrelevant to what I wrote.

Educated.redneck
Educated.redneck
Reply to  skeptic16
17 days ago

“Offer” anonymity. Every criminal conspiracy offers anonymity. It usually breaks when one of the members gets caught and tries to save his own skin. If you believe crypto is anonymous, then Im sure you think the Michigan election was clean and free of any fraud as well.

Citizen of a Silly Country
Citizen of a Silly Country
Reply to  Hun
17 days ago

Yep, a future where every online move your make and every purchase you make is recorded will be a nightmare. Couple that with hate speech laws and a social credit score that can cost you the ability to get a bank account or loan or even shop at stores – and, of course, get or keep a job – and we’re staring down the barrel of a world that even Orwell couldn’t imagine. Luckily, the people running that show will be either fanatics or idiots or both, so the whole show will be run into the ground soon enough. But… Read more »

ABCer
ABCer
Reply to  Hun
17 days ago

yes, people forget the blockchain was designed for legal record traffic. But greed is the strongest irrational force in the universe.

OrangeFrog
OrangeFrog
17 days ago

Put another way, each new coin costs more to produce than the previous coin. If the first coin cost X, the next coin costs x+n with n being the slight increase in cost to produce it. I had not thought of this before. Presumably, the same cannot be said of gold. Does it cost more to mine later gold? Most likely it gets cheaper or stays the same. Although the cost of surveying, building and making profitable a gold mine are probably far greater than the costs of mining one’s first Bitcoin. Apparently for a gold mine to become profitable… Read more »

Hun
Hun
Reply to  OrangeFrog
17 days ago

nm

Last edited 17 days ago by Hun
The Wild Geese Howard
The Wild Geese Howard
Reply to  thezman
17 days ago

EROEI is a huge issue in the oil industry, especially because modern fracking has never been very profitable, even at triple-digit oil prices.

Of course, WuFlu hysteria serves as a very convenient distraction from this reality.

skeptic16
skeptic16
Member
Reply to  The Wild Geese Howard
17 days ago

The whole fracking industry is dependent on massive injections of capital. My theory is that the US is trying to overproduce natural gas to suppress Russian export earnings and get importing nations dependent on the US.
The US did something similar in the 1980s by getting the Saudis to overproduce oil to the point where the US oil industry went into a depression. This probably caused more trouble for the Soviets than Afghanistan or Star Wars.

ProZNoV
ProZNoV
Reply to  thezman
17 days ago

Renting out servers to “mine” bitcon was a play a couple of years ago. Legal, paid in cash, reportable to IRS.

Like selling supplies to the gold prospectors. They’re the one’s who really made reliable income.

Educated.redneck
Educated.redneck
Reply to  thezman
17 days ago

There are still surface silver veins you can see from I70 in the Rocky Mountains. It is just too poor ore to be worth the price of extracting. Yes, marginal costs apply to essentially all production, including mining (otherwise we would never have an ammo shortage).

Evil Sandmich
Reply to  OrangeFrog
17 days ago

There’s an exponential factor on this. Eventually all cryptos will get to the point that their chain cannot be expanded since doing so would require all the CPU cycles on the planet to accomplish it. The irony is that Bitcoin might still have some sort of face value, but you will be unable to buy it. Another issue is that while banks can act as a low cost arbiter for payments by snagging a piece of the transactions flowing through them, crypto cannot do that which is why these clearing houses are all sketchy since the only way they can… Read more »

OrangeFrog
OrangeFrog
Reply to  Evil Sandmich
17 days ago

Another issue is that while banks can act as a low cost arbiter for payments by snagging a piece of the transactions flowing through them, crypto cannot do that which is why these clearing houses are all sketchy since the only way they can make payroll is by renting out their customer’s crypto. ES, this is an intriguing observation. The very first thing that is mentioned in the original Bitcoin paper is that is solves the ‘trust’ issue – that is the need for any third party during a transaction. Am I correct in interpreting your statement as something that… Read more »

skeptic16
skeptic16
Member
Reply to  Evil Sandmich
17 days ago

Already cryptocurrencies consume a measurable percentage of electricity production.

LineInTheSand
LineInTheSand
Reply to  skeptic16
16 days ago

There have been many attempts to create consensus algorithms that don’t require huge expenditures of electricity to validate transactions and they have all failed.

I was involved in one.

Moe Noname
Moe Noname
17 days ago

Note that the base utility of currency is that it is a store of value of work provided (mining gold/ mining bit coin/ running a mint and paying people with guns to stop other people from running their own printing press…). Honey, a dozen eggs and leather all have value. However, you can’t put any of them in your pocket or exchange without a big mess. The reason the pawn shop doesn’t accept a bag of gold dust is because the utility of converting is not worth the effort. If you walked into the same pawn shop with 10-50 round… Read more »

Moe Noname
Moe Noname
Reply to  thezman
17 days ago

Good point, Mr. Z-Man. The tax man must be paid.

CompscI
CompscI
Reply to  Moe Noname
17 days ago

Some States I believe have allowed for gold as legitimate payment. I lost track of such laws years ago and don’t know wrt Fed’s how this worked out.

In any event, I’m not sure it matters. My general thinking is that alternative currency is used in conjunction with the “King’s coin”. I’m not overly concerned with the government knowing how much my grocery bill is or what those items are. There are other transactions, I prefer to keep to myself. 😉

Bilejones
Member
Reply to  Moe Noname
16 days ago

The Pawn shop can accept anything he choses to accept for payment. He merely has to record and report its accurate dollar value,

DLS
DLS
Reply to  Moe Noname
17 days ago

I recall years ago, some clever types would try to pay their tax bills with pennies and the government would refuse to take them. Goes to show the government can do whatever the hell it wants.

Kentucky Headhunter
Kentucky Headhunter
17 days ago

“For reasons that have nothing to do with the inherent value of Bitcoin,”

What is the “inherent” value of Bitcoin?

Hun
Hun
Reply to  thezman
17 days ago

Cost of creating doesn’t lead to value. You can spend a lot of money creating worthless shit.

OrangeFrog
OrangeFrog
Reply to  Hun
17 days ago

You can spend a lot of money creating worthless shit.

Indeed. Pay a visit to the Tate Modern for a prime example.

Vizzini
Reply to  OrangeFrog
17 days ago

That’s kind of ironic, because the high end art world is just a big money laundering scheme.

Last edited 17 days ago by Vizzini
Mikep
Mikep
Reply to  OrangeFrog
16 days ago

Indeed! But that worthless shit has made some cunt rich nevertheless.

Ivan
Ivan
Reply to  Hun
17 days ago

Is not bitcoin the modern equivalent of the wheel?

Educated.redneck
Educated.redneck
Reply to  Ivan
17 days ago

In the sense that it is an impliment that will be used to torture to death enemies of TPTB, yes, they are similar.

LineInTheSand
LineInTheSand
Reply to  Ivan
16 days ago

Bitcoin specifically, and blockchain in general, is the greatest example of engineering creativity of this century.

The Wild Geese Howard
The Wild Geese Howard
Reply to  Hun
17 days ago

The computing hardware and all the associated energy consumption that go into one BTC are stunning.

There are reasons BTC miners were migrating to zip codes with cheap electricity and running parasitic mining operations off the output from the local power plant or their employer’s backup generator.

Kentucky Headhunter
Kentucky Headhunter
Reply to  thezman
17 days ago

If the cost is just compute cycles, seems like AWS could start minting its own digital currency much cheaper and more profitably than anybody else.

Falcone
Falcone
Reply to  Kentucky Headhunter
17 days ago

Yep

as the government gave Bezos a break on the costs of postal delivery to give him an insurmountable competitive advantage, so they can cut the electricity costs and so forth to allow a Bitcoin Bezos to snuff out the competition

And I bet that is a lot of what Bitcoin value really is; the chance of putting oneself to be first in line to be acquired by some deep monied or sovereign interest. The typical Silicon Valley mindset; shoot only for 5% market share so Facebook wants to buy us for billions

DLS
DLS
Reply to  Falcone
16 days ago

“Yep, as the government gave Bezos a break on the costs of postal delivery to give him an insurmountable competitive advantage.” Actually, they give him a break because the additional volume gives the USPS political cover for not cutting a bloated agency.

Falcone
Falcone
Reply to  DLS
16 days ago

whatever the reasons, he was able to pass by everyone else on people mover to riches

(((They))) Live
(((They))) Live
Reply to  thezman
17 days ago

Thats not real value IMO, Gold/Silver ect will always have some value because of marginal utility, if Elon Musk captured an asteroid of pure Gold and parked it at LEO he would crash the Gold price, but Gold would still have value because it has industrial uses, I don’t see that with bitcoin

Falcone
Falcone
Reply to  (((They))) Live
16 days ago

An asteroid of pure gold would increase demand

Prices would follow

There is a primal or emotional relationship with gold that cannot be underestimated. You also see it with views of oceans among other things that drive human desires.

whitney
Member
17 days ago

So the threat of the American Military is behind the use of the worldwide dollar? Is that right.

Epaminondas
Member
Reply to  whitney
17 days ago

Shocking, isn’t it?

OrangeFrog
OrangeFrog
Reply to  whitney
17 days ago

To an extent. It at least is seen by all comers as the dominant player in the world. In military, economic and perhaps social terms I think that Joe Average and even Joe Informed in his mid-level role in the EU bureaucracy still see the US as unassailable. I suppose it is the belief of the threat of US everything. Naturally, the bigwigs will trade in the dollar, but the plebs of the world will find local commodities to be also of value. I am reminded of one event from the book I mentioned in my comment above: In 2003,… Read more »

skeptic16
skeptic16
Member
Reply to  OrangeFrog
17 days ago

Iran has a central bank so they should be safe. Although I believe they prohibit usery so who knows?

(((They))) Live
(((They))) Live
Reply to  skeptic16
17 days ago

Most of the islamic work arounds to prohibit usery are BS IMO, that said I doubt they allow credit cards charging 20% interest or payday loans and other (((scams)))

Mockingbird
Mockingbird
Reply to  (((They))) Live
16 days ago

I married into a Persian family, some of them quite educated, and none of them can explain to me how Iranians transact in real estate without lending money at interest. Yet they do.

sentry
sentry
Reply to  whitney
17 days ago

iran has no rotschild bank, we all know what the us military has in store for them.
then there’s irak, libya, afghanistan, who were already destroyed by us military.
north korea doesn’t have one cause north korea.
and cuba, who will probably get reformed in the future.

Last edited 17 days ago by sentry
Ivan
Ivan
Reply to  sentry
17 days ago

You forgot syria

The Wild Geese Howard
The Wild Geese Howard
Reply to  whitney
17 days ago

It’s not even that.

It’s the presumption the US has the largest, most effective nuclear arsenal.

As Mao said, “True power comes from the barrel of a gun.”

Last edited 17 days ago by The Wild Geese Howard
ProZNoV
ProZNoV
Reply to  The Wild Geese Howard
17 days ago

Maybe. The US hasn’t field tested a nuke since 1992, modernization is an issue, and the US struggles to produce tritium triggers that boost blast yields.

Say, rather, we have a sufficient amount.. Given the change in political winds, we may all find out soon enough as the new boss starts some new wars.

The Wild Geese Howard
The Wild Geese Howard
Reply to  ProZNoV
17 days ago

At one point I believe Trump raised the idea of a new nuclear test to build confidence in the US arsenal and to send an obvious message to the rest of the world.

CompscI
CompscI
Reply to  ProZNoV
17 days ago

Tritium supply is now based upon recycling from old weapons supply—if I read correctly—as GB supply for tritium is being eliminated. Bush II when in office was told the number of nukes we had was 15k+. It’s now, what, 2k+? I suspect we are good for a bit.

But dial a yield, small nukes are an advanced weapon development. The crap we dropped on Japan required none of that advanced technology and we’ve got plenty of plutonium sitting around. On the other hand, sending bombs weighing several tons over to our adversary might be a pain. 😉

skeptic16
skeptic16
Member
Reply to  CompscI
16 days ago

Tritium has a half life of 12 years so recycling is not a long term option.

Compsci
Compsci
Reply to  skeptic16
16 days ago

No, but if the stockpile of nukes was at 15k in 2000, and we profess to need 2000 today. I’d bet reprocessing tritium can buy us time to find a substitute. Obama actually signed the EO to refurbish and modernize our nuke stock pile so we are working on it. I’m also not educated enough here to understand if doing without tritium is possible, or if the deplenished nuke is new worthless.

Last edited 16 days ago by Compsci
skeptic16
skeptic16
Member
Reply to  whitney
17 days ago

But in order to pay for that military they have to create ever increasing Dollars which must be disposed of overseas to avoid massive inflation. Military spending overseas solves part of this problem as does a huge trade deficit. Buying cheap goods from China masks inflation and when some of these Dollars return, they go into US government bonds to keep taxes and interest rates low or real estate and stocks to maintain the illusion of prosperity. However, the US Dollar and the US military are like two climbers joined by a rope. If one falls it takes the other… Read more »

(((They))) Live
(((They))) Live
Reply to  whitney
17 days ago

Partly, If you don’t trust the local currency the US dollar is a good alternative, in parts of Europe back in the day the DM was popular the Swiss franc too

Educated.redneck
Educated.redneck
Reply to  whitney
17 days ago

Somewhat. It is also the tax man. Come April 15, IDGAF how much crypto, gold, or lead you have: you better have Louis Lerner’s money, and in US Dollars, or else you will know pain and suffering. This, for most of the Titans of Industry and Tech, is a powerful force.

abprosper
abprosper
Reply to  whitney
16 days ago

Well yeah. This, the size of the market and its relative affluence allowed for dollar supremacy. We should be able to keep this for a while but its only because everyone else including China is just as sick. Much of this madness over Trump and the “Great Reset.” is an attempt to keep the system running and the people at top, on top despite a low birth rate and low velocity of money. I don’t know how long the economy can remain this irrational though. No one does and anyone who did me included would cash in on it ASAP… Read more »

Last edited 16 days ago by abprosper
Higgs Boson
Higgs Boson
17 days ago

The mole ate my tulips, then the dog ate the mole. I broke even.

skeptic16
skeptic16
Member
Reply to  Higgs Boson
17 days ago

Eat the dog.

Bartleby the Scrivner
Bartleby the Scrivner
Reply to  skeptic16
16 days ago

“Dog is a fine meal”
Benjamin Martin,”The Patriot”

Hun
Hun
17 days ago

One reason for this is that all cryptocurrencies are designed around a math problem that gets exponentially harder to solve as time goes on.

Not exactly. The mining difficulty can go up and down, depending on total processing power (hashrate). In practical terms, it’s indirectly adjusted based on the crypto-currency price and cost of processing power.

Paintersforms
Paintersforms
17 days ago

Bitcoin: the lolbertarian barter system. Trading in (supposed) freedom! Good lord, even ideas get commodified.

Last edited 17 days ago by Paintersforms
Paintersforms
Paintersforms
Reply to  Paintersforms
17 days ago

There’s this thing called force. As in, don’t mess with these guys or they’ll mess with you. Some find it distastefully brutish, but it looks to me that’s how the world is going. The nerds had their day, and now it’s over. The future belongs to the street fighters.

Educated.redneck
Educated.redneck
Reply to  Paintersforms
16 days ago

Disagree. Look at how the enemy wins today. Yes, they have the street toughs, but then a bunch of nerds to “decline to prosecute,” deliver melee weapons, post bail, and write propaganda narratives. Combined Forces continues to be the most successful: we actually do need more “nerds,” especially those that are strategically positioned.

Paintersforms
Paintersforms
Reply to  Educated.redneck
16 days ago

Point taken, but we’re clearly heading to a situation that can’t be thought out of.

Evil Sandmich
17 days ago

I always thought it as a form for out-in-the-open money laundering; I wouldn’t even count it as a commodity (like gold).
One slight addition: from what I recall what really cements fiats use as currency is that the government accepts it (and nothing else) as payment for taxes. Even with the most laid back government in regards to currency usage that one fact is enough to force pretenders out of the market.

OrangeFrog
OrangeFrog
Reply to  Evil Sandmich
17 days ago

The thing with gold is that it has for a very long time and most probably always will retain some value. It also something that, if you have it, can easily be seen and felt and perhaps more readily protected, God bless it. I do not know how it came to have such value, but it just seems to. It gleams and bedazzles people in a way that a cryptocurrency never could. It is, from chemical perspective, incredibly resilient adding to it’s value which I believe to be both a practical and mythical thing. It’s going to take Bitcoin a… Read more »

Falcone
Falcone
Reply to  OrangeFrog
17 days ago

Value of gold is in its beauty.

it’s intoxicating

and rich people want it

yes, it’s anti corrosive property is also valuable but that is perhaps an effect of its beauty.

(((They))) Live
(((They))) Live
Reply to  Falcone
17 days ago

Its also rarity, if the price dropped low enough the rich would lose interest, its a Velben good

Falcone
Falcone
Reply to  (((They))) Live
16 days ago

I used to think that, until….

Have you ever been in the presence of lots of it? Not a coin or two, but maybe a hundred or a thousand gold coins, or vases, or what have you?

Put it this way, if you visit a guy with 100 gold coins shimmering on a table in front of him and it doesn’t enter into your mind that you could just kill him and run off with all of it, you’d be lying.

The stuff grabs you in a way little else does.

LineInTheSand
LineInTheSand
Reply to  Falcone
16 days ago

Gold is valuable because it can be made into jewelry that you can give to women and increase the likelihood that they have sex with you.

That is the entire value of gold.

Stranger in a strange land
Reply to  LineInTheSand
16 days ago

…and that’s the bottom line

Falcone
Falcone
Reply to  LineInTheSand
16 days ago

and bourbon

skeptic16
skeptic16
Member
Reply to  Evil Sandmich
17 days ago

Why bother with taxes then? Why not just create the money if people are forced to use it?

Gunner Q
Reply to  skeptic16
17 days ago

Because it’s a government income that bypasses the Central Bank. Just in case ((central banks)) refuse to print more money for you.
The tax code has also become an effective behavior modification tool.

DLS
DLS
Reply to  Gunner Q
17 days ago

“The tax code has also become an effective behavior modification tool.” It is also an effective surveillance tool.

skeptic16
skeptic16
Member
Reply to  DLS
16 days ago

THIS is why.

Educated.redneck
Educated.redneck
Reply to  Gunner Q
16 days ago

You might say that, with MMT providing the actual financing of government, the primary purpose of the tax code has become behavior modification.

ABCer
ABCer
Reply to  skeptic16
17 days ago

In the early days of colonial paper money in say Virginia the money was printed, collected in taxes then burnt by Colonial Govt. MASS and New England preferred hard money. When VA was caught not burning some of the money was scandal.

In no small part the Revolution was war debts by colonies that could not be paid off, French and Indian Wars. 60% of cost borne by colonies.

guest
guest
Reply to  ABCer
16 days ago

Taxation was increased by London to claw back the money it had spent on imperial defense.
A lot of plantation owners were in debt to the money markets of London.
60 % of the 7 years war’s costs were not borne by the colonies.

Falcone
Falcone
Reply to  skeptic16
16 days ago

It’s a currency whose value is in the continual churning of it through millions of transactions and supply growth If it stops moving around it stagnates and loses its value. Why inflation is a way for the government to make sure you don’t stuff it in a mattress or hoard it but instead keep moving it around. Taxes do it too. You have to move it around for tax benefits. Basically it is a machine with two main goals: no one can hoard it without being penalized and no one can accumulate too much on the pretext of paving the… Read more »

Chet Rollins
Chet Rollins
17 days ago

Bitcoin is not the savior many dissidents think it is, but cyrpto smart-contract technologies like Ethereum, Polkadot, and others will make it an order of magnitude more difficult to silence dissidents on the internet. If your web site is running as part of a massive cluster consisting of millions of PCs with no central authority, good luck getting that shut down. While they are mostly payment to miners and Proof of Stake holders for processing power, these tokens can become de-facto currencies in their own right, especially if markets start running on these chains. The only real way to stifle… Read more »

Falcone
Falcone
Reply to  Chet Rollins
17 days ago

Internet is government property.

they can shut it down and shut you out any time they want.

dissidents only exist on the internet because the cost of enforcement and regulation is not worth the hassle

DLS
DLS
Reply to  Falcone
17 days ago

Dissidents are also not a threat to them yet. They have been able to infiltrate and co-opt any movement before it gets off the ground.

Educated.redneck
Educated.redneck
Reply to  Falcone
16 days ago

YET. Not worth it YET.

Falcone
Falcone
Reply to  Educated.redneck
16 days ago

Very true

ABCer
ABCer
Reply to  Chet Rollins
17 days ago

The Internet is a electronic utility and is easily regulated. Faggots and Trannies do it with ease, never mind Govts. Dissident speech is a harmless venting mechanism and is thereby allowed. If it were dangerous it would not be allowed.

CAPT S
CAPT S
17 days ago

Much as I read and try to absorb, I don’t understand Bitcoin. It seems Bitcoin assumes a necessity for stable (and eternal) computing power? Not a likely scenario but does Bitcoin still exist after an EMP strike? I expect cryptocurrency may be here for awhile, particularly as globalism runs its course and implodes, but I have a hard time imagining it being around for centuries. We of the gray-hairs remember the tangible value of an LP album, despite the snaps and crackles. Heck, even the younger set are starting to like the vinyl vibe. This goes along with the title… Read more »

Last edited 17 days ago by CAPT S
Falcone
Falcone
Reply to  CAPT S
17 days ago

Not being able to understand brings to mind a magician dazzling you with tricks you can’t understand

or some fast talking bernie madoff

no thanks.

RoBG
RoBG
Reply to  CAPT S
16 days ago

There probably are people who lost their wallets due to an irrecoverable hard drive failure that are pulling their hair out.

WCiv...---...
WCiv...---...
17 days ago

I came real close to pushing that send button but then i chickened out. One thing that made me hesitate was in regard to privacy. Just who exactly was i sending my Driver’s license image, personal information, account numbers, even a selfie – who was i sending to? Then on to who else? What if they found out that i once pulled Peggy Sue’s hair back in third grade or uttered something as despicable as that it’s OK to be white?

Paintersforms
Paintersforms
Reply to  WCiv...---...
17 days ago

I almost bought some bitcoin back when it was a few dollars per, but something never sat right with me about it.

My sister used to be into that SETI thing where they scan the sky and send packets of info over the internet to your computer to parse instead of using a supercomputer. Blockchain reminds me of that.

Maybe I was being paranoid, but I thought maybe the whole thing was some kind of encryption-defeating scheme disguised as digital freedom.

I’d have a pile money now if I’d done it. Oh well.

Falcone
Falcone
Reply to  WCiv...---...
17 days ago

You need to provide all of that to buy Bitcoin?

lol. Talk about Facebook 2.0. Now you KNOW the feds are involved in Bitcoin.

Glenfilthie
Glenfilthie
Reply to  Falcone
17 days ago

That is the comment of the day, Falcone. If Bitcoin functioned as advertised, it’s inventors and users would be dead.

LineInTheSand
LineInTheSand
Reply to  Glenfilthie
16 days ago

One of the most intriguing parts of the bitcoin story is that no one knows who invented it. Bitcoin was defined in a paper whose author used a Japanese pseudonym.

I have examine the bitcoin code enough to see that it was probably implemented by a team of coders, not just an individual. But no one knows who they are.

RoBG
RoBG
Reply to  Falcone
16 days ago

An ex Secret Service Agent stole Bitcoin from the Federal Government’s wallet (as well as Silk Road users) when he was part of that investigation.
https://tinyurl.com/y53ch7ss

LineInTheSand
LineInTheSand
Reply to  Falcone
16 days ago

You must provide that information if you buy from an exchange. If you know someone with bitcoin, you can purchase it from them without revealing your identity.

Falcone
Falcone
Reply to  LineInTheSand
16 days ago

thanks for info !

The Wild Geese Howard
The Wild Geese Howard
17 days ago

If I were intelligent I’d have put the little I had into Tesla and Bitcoin in 2012 and have retired with 8 figures in 2020.

Well, the vision through one’s ahole is always 20/20, ‘innit?

Last edited 17 days ago by The Wild Geese Howard
Falcone
Falcone
Reply to  The Wild Geese Howard
17 days ago

Easy come, easy go

never fails. All that money would have been blown on stupid shit .
shopping malls are now attached to casinos for a reason

The Wild Geese Howard
The Wild Geese Howard
Reply to  Falcone
17 days ago

Oh, I’ve certainly improved my money management and personal spending and now live well below my means.

I still live a comfortable life and could easily cut my monthly expenses 50 or even 75 percent.

Falcone
Falcone
Reply to  The Wild Geese Howard
17 days ago

If I ever made fast easy money, and I’m pretty good too at money management, but no way I wouldn’t blow 75% of it

but better than blowing all of it I guess. I ain’t no nogger being nogger rich 🤪

Compsci
Compsci
Reply to  Falcone
16 days ago

Are you saying cocaine and hookers are useless shit?

ProZNoV
ProZNoV
Reply to  The Wild Geese Howard
17 days ago

I imagine “green” technology is about to be hugely funded in the US given the change in DC. While it’s a fool’s errand, plenty of fortunes will be made.

Might want to think about that play.

Falcone
Falcone
Reply to  ProZNoV
17 days ago

That stuff is already bought all up

you can probably make some money on the margins, but the major companies are already set up

The Wild Geese Howard
The Wild Geese Howard
Reply to  ProZNoV
17 days ago

I’ve been doing well generating income with Tesla options.

Have definitely missed out on growth by not simply buying and holding Tesla.

Screwtape
Screwtape
Reply to  The Wild Geese Howard
17 days ago

Good on ya Howie, but you are probably better off having to slog it out. Builds character as my pops used to say. Something from nothing is a mental orientation trap that our guys need to keep in check. As is retiring to Elysium. Already there are too many onramps capturing men’s potential and yoking it to the leverage and arbitrage of Dimon’s dancing monkeys. Robin hood donkeys or pronhub wristies, same same. The other side of the debt slavery coin is one that fomos and ponzis and “trades” atop the very same financialization of everything our side claims to… Read more »

skeptic16
skeptic16
Member
17 days ago

This was your worst post I’ve read. All the faults you lay at the feet of cryptocurrencies and gold easily apply to Fed fiat money but without the reinforcement of the Fed’s power. Wait until the Fed rolls out it’s digital Dollar which will give it total control over which transactions will be allowed for its use. And it sure won’t be anonymous. The bright side is that, foreign users of Dollars will be very reluctant to a medium of exchange subject to the whims of the US government. They will have alternatives and will use alternatives which will surely… Read more »

Falcone
Falcone
Reply to  skeptic16
17 days ago

I think you answered your own question

the moment the feds say those paper dollars and coins mean nothing is the moment they mean nothing.

Falcone
Falcone
17 days ago

I guess crypto is great until there is a power outage or your internet goes down As with everything digital, I’m skeptical that you ever actually own it in the full sense of the word. Rather, you own rights to it. I noticed this with digital video games; I decided to play an old game and it required all sorts of updates and I had to create a new gamer profile, new account, had to download various updates — and if I didn’t? I couldn’t play. Then they flash all these crazy warnings on the screen to make your ball… Read more »

OrangeFrog
OrangeFrog
Reply to  Falcone
17 days ago

And I imagine Bill Gates’ face getting all sad with disappointment like I am being a bad bad boy for not following up on my updates. He wants me to feel safe! He’s doing it for me!

Probably admonish you for not being vaccinated against The Greatest of Yellow Perils too. I can in fact imagine such coercion being used – enough people are addicted to video games to do anything for their hit.

LineInTheSand
LineInTheSand
Reply to  Falcone
16 days ago

So long as you are the only one who knows your bitcoin private key, and internet connectivity is unrestricted, and no 51% attack on bitcoin succeeds, you own your bitcoin as much as you own your own body.

Last edited 16 days ago by LineInTheSand
Falcone
Falcone
Reply to  LineInTheSand
16 days ago

I don’t own anything if I have to walk through government property (the internet) to access my money

I own the rights to it. But I do not own the internet. If denied internet services, I’m pretty much screwed

Compsci
Compsci
Reply to  Falcone
16 days ago

That’s perhaps my sticking point on this whole matter. I don’t stock up on alternative currencies-except for SHTF scenario. So in that scenario, is bitcoin better or worse than say, gold?

Bitcoin, as a hedge to inflation in a relatively benign environment, I have no problem with. Go for it. I’m in the market of all places…I should lecture you on Bitcoin? 😉

Au Jus
Au Jus
Member
17 days ago

I like Raoul Pal’s description of Bitcoin – ” a store of value that trades like a commodity”. The idea of Bitcoin being a digital currency that could replace Fiat is gone. I don’t know anyone in the crypto space that actually believes that anymore. What Bitcoin has become however is something like digital gold. Bitcoin as first mover in the space has the advantage of being, well, first. It’s always good to be first. Ethereum being second. Take it for what you will but there is huge amounts of money moving into Bitcoin. That is enough to convince me… Read more »

TomA
TomA
17 days ago

One of the key attributes of cryptocurrencies (and their ancient kin in black/grey markets) is that these alternatives serve as a useful barometer of people’s trust in their government. When governments are more honest than corrupt, and the value of money is stable & predictable, no one thinks twice about using official currency in daily life. But when people get anxious about government malfeasance, they naturally look for a backup. The rise of Bitcoin is tangible evidence that trust in government is falling precipitously.

Last edited 17 days ago by TomA
Peabody
Peabody
Reply to  TomA
17 days ago

I query my investment banker occasionally when I get antsy after reading another of the ubiquitous articles warning of the impending crash of the USD and the response is always “it’s still the best house on a bad block”. I wonder though, as someone mentioned above, what the election of Dementia Joe and his Floozie sidekick will do to that equation.

TomA
TomA
Reply to  Peabody
17 days ago

Here are some tangible facts should be considered when evaluating near-term decision-making options. Firearm sales are once again through the roof and ammunition is hard to find, regardless of price. California is experiencing an exodus like never before in it’s history. TV viewership is cratering across the board, as is trust in MSM reporting. Cops are retiring in record numbers. Civic trust is nearly extinct, as is the means to maintain law & order. Chaos is coming. Are you ready? If not, you only have yourself to blame.

c matt
c matt
Reply to  TomA
16 days ago

Saw a cop today with so many tats that he was indistinguishable from a convicted felon larping in a cop uniform. Let that sink in.

Waiting Monster?
Waiting Monster?
17 days ago

Who is the waiting monster? Which commenter? I see you guys are laughing it up at my expense! in the ancient regime, currency was backed not just by the power of the sovereign, but also the metallic quality of the coin. That was the whole point of silver and gold and copper being used in coins. You were receiving something of inherent value. The power of the state factored in with how reliable the metal content of the coin was. That’s why the Spanish piece of eight was so sought after; Spain was a great gold rich empire at that… Read more »

Falcone
Falcone
Reply to  Waiting Monster?
17 days ago

I’m not laughing at you. I love silver and gold. And I always make sure I have some of it close to me. But other day I was thinking I would be having to help my daughter move from California to a new house in Florida. And I also planned on offloading a lot of my stuff over to the new house. I have pounds and pounds of silver coins and so forth and thought about moving some of it to spread out my risk. But What if someone breaks into my car when I’m asleep at the hotel? Do… Read more »

CompscI
CompscI
Reply to  Falcone
17 days ago

As has been noted, silver is currency, gold wealth. You quickly run out of space storing wealth in silver—but gold? $1M in gold is what…about 500 (troy) oz? You can carry that around, albeit somewhat unpleasantly. And you can store it in any number of places in a dwelling, from safe to a concrete pad burial (think John Wick). Besides, who the hell here has a million dollars?

Falcone
Falcone
Reply to  CompscI
17 days ago

Some jogger or meth head would kill someone for a single ounce of gold

i never thought about, but if I move I have to secure it’s transport. Whom do I trust? Will someone get the word out that I have gold on me? Etc etc.

yes, I can secure it at my house. But as long as I don’t have to move around too much bringing it with me. I guess I could sell it then buy an equal amount it back when I arrive But I’ve grown attached to my coins lol. I don’t want to sell them

Waiting Monster?
Waiting Monster?
Reply to  Falcone
16 days ago

I know coin collectors who would starve for weeks before selling their collections.

Falcone
Falcone
Reply to  Waiting Monster?
16 days ago

So true

So much emotion becomes involved

Funny how people work

G Lordon Giddy
G Lordon Giddy
17 days ago

I see the United States creating their own crypto currency. They will still call it a dollar in order to not frighten the old people who hold onto the idea of paper currency. The computer symbol on your IPhone of the digital currency will be Obama shaking hands with George Washington wearing a dress.
In time all currency will only be digital.

Last edited 17 days ago by G Lordon Giddy
c matt
c matt
Reply to  G Lordon Giddy
16 days ago

To a large extent, it already is. For the average Joe who gets his paycheck direct deposited to his account, pays bills online, uses credit cards and then pays those online, how often does he actually use or even see cash? The occasional lottery ticket?

usNthem
usNthem
17 days ago

Ah, just listen to AC/DC..

A-Bax
17 days ago

One way we’ll know for sure that Bitcoin has gained cultural acceptance and is here to stay is if the special people begin adopting a permutation of it as a surname.
If we ever see a law firm or accounting company called “Cashman Goldbaum Silverberg Bitcoinstein” we’ll know it’s legit.

Stranger in a strange land
17 days ago

“There are other problems with crypto that prevent it from becoming anything more than a digital tulip bulb”. 
I wasn’t there for the tulip bulb balloon blow up and pop, but from the tea leaves I can read – cryptocurrency seems to be on a similar trajectory

Falcone
Falcone
17 days ago

Bottom line. I think the guy who invented Bitcoin his last name ends in a stein or a berg.

if that alone doesn’t raise a bunch of red flags in your mind then your parents didn’t raise you right

sentry
sentry
Reply to  Falcone
17 days ago

i thought it was a jap

Falcone
Falcone
Reply to  sentry
17 days ago

perhaps but the guy I remember getting the credit for it was a curly haired you know what

right then i shook my head and thought “lots of white guys gonna get screwed”

Stranger in a strange land
Reply to  sentry
17 days ago

Satoshi Nakamoto – although some guy who actually was a S. Nakmoto denied any involvement. Some speculation that Nakamoto was actually two different people. Apparently whomever Nakamoto was/is – hasn’t been heard from for several years.

Falcone
Falcone
Reply to  Stranger in a strange land
17 days ago

I guess he bit the dust

no pun intended 😉

Damian
Damian
17 days ago

The crypto world is a fascinating space, and the ‘value’ of bitcoin is simply that someone else will happily buy your bitcoin from you. Same as the value of fiat. I do see a future where govts want their own version of crypto but whilst it will be on a blockchain, any distributed leger will be owned and run by them. A crypto version of an intranet as opposed to an internet. I can see more and more people moving money out of the financial system and into semi-liquid assets, which are then sold, and converted into fiat/govt crypto as… Read more »

West Zimbabwe
West Zimbabwe
17 days ago

Bad Touch Joe will charge up our EBT cards.
Bitcoin? We don’t need no stinking Bitcoin.
Let them eat rainbow stew bubble up on the road to Ozymandias.

AYT
AYT
17 days ago

same stupid boomer nocoiner retardation we’ve been hearing for over a decade by people who don’t understand crytpo. you had 12 years!
all of these smoothbrained nocoiner arguments have been responded to over and over but instead of updating their opinion based on new information nocoiners choose to stay ignorant despite being proven wrong over and over. you would think after a decade of being wrong they’d at least come up with some new arguments at the very least. it’s pretty sad. have fun staying poor

Falcone
Falcone
Reply to  AYT
17 days ago

No electricity = no bitcoin

No internet = no bitcoin

Not exactly rocket science

WCiv...---...
WCiv...---...
Reply to  Falcone
17 days ago

Good points, Falcone. Also, EMP, sabotage, malware, no electricity = no bitcoin
what good is a mound of BTC or dollars when a can of tuna and a loaf of bread costs $2,000…if you can find it. Stockpile now.
BBBBB Beans, bourbon, bullets, bandages, bullion

Falcone
Falcone
Reply to  WCiv...---...
17 days ago

What’s the value of a record album if there is 1) nothing to play it on and 2) no electricity

just sits there. I have a closet full of old record albums. And CDs and DVDs When the power it out, they’re dead Same for a Tesla car.

why I also have a growing library of books. Always useable. And why the elites probably hate them. They exist beyond their control. And why I will always have a gas powered car of some kind and a spare gallon of gas in storage.

(((They))) Live
(((They))) Live
Reply to  Falcone
16 days ago

I have battery powered CD/Mindisc players, and plenty of batteries

skeptic16
skeptic16
Member
Reply to  WCiv...---...
16 days ago

If there is no internet or electricity, how many people are going to be trusting the government? Federal Reserve Notes will still be used for a while because of availability and familiarity. But other media of exchange will gradually replace as the bills disappear from circulation.

Educated.redneck
Educated.redneck
Reply to  Falcone
16 days ago

Special Agent Smith saying “hand over your password and user name or we lock you up with Ja’quandius, Destroyer of Buttholes for 20-to-life = no bitcoin.

CompscI
CompscI
Reply to  AYT
17 days ago

Troll?

Educated.redneck
Educated.redneck
Reply to  CompscI
16 days ago

Nope, true believer.

Compsci
Compsci
Reply to  Educated.redneck
16 days ago

Yeah, but the posting contained no info to help me understand, nor convert my thinking. If a true believer, he posted like a troll and simply vented.

Dutch
Dutch
17 days ago

Bitcoin is promoted as a medium of exchange but is traded for its “store of value” as it keeps going up. Big disconnect there.

The biggest promoters of this thing are the Winklevoss twins. Tulip Mania came from the Dutch as well…

John Law and the other Ponzis got busted because they promoted something tangible but didn’t have it to deliver. The beauty of Bitcoin, from the promoter’s standpoint, is that nothing except the value of the coin itself is being promoted. So when Bitcoin goes “phhht”, there is no tangible promise and failure to deliver that can be prosecuted.

Last edited 17 days ago by Dutch
Falcone
Falcone
17 days ago

will 10 foot tranny losing her senate race to a warlock nog have any effect on your Bitcoin?

B125
B125
Reply to  Falcone
17 days ago

I’ll take a proud black man over a white race traitor any day of the week.

Fuck Loeffler, glad she lost tbh.

Falcone
Falcone
Reply to  B125
17 days ago

Same here. I was pulling for the preacher

Q'tardius Dae
Q'tardius Dae
Reply to  Falcone
16 days ago

I wonder if VD thinks losing both houses of Congress and the presidency while never bringing anyone from either the Clinton campaign or the deepstate to justice was all part of the plan? “There is a rumor going around the very credible 4chan website, via secret agent Qanon, stating this was all part of the plan. Donald Trump is still president in exile, directing covert operations against the Biden Administration, which is only there for show. Any minute now the god emperor is going to have Mike Pence arrest Hillary Clinton on charges of treason, then she’ll spill the beans… Read more »

ProZNoV
ProZNoV
Reply to  Q'tardius Dae
16 days ago

ProZNoV (as in, no VD)….LOL’d.

ABCer
ABCer
17 days ago

This then is the only currency with any relationship with Math.

Everything is downstream from power. Where there is sword there is civilization.

Where there are altars there are priests and the decay has begun.

skeptic16
skeptic16
Member
Reply to  ABCer
16 days ago

With Math or Meth?

JR Wirth
JR Wirth
17 days ago

The government already has the power to shut any one down using anti-money laundering regulations. See E-Gold. This doesn’t apply to large banks as regulations exist to protect large players, so they can launder billions in Mexican cartel money and it’s fine and dandy. Maybe a slap on the wrist. Maybe.

skeptic16
skeptic16
Member
Reply to  JR Wirth
16 days ago

I remember reading the 9/11 Report that said “Ultimately, identifying the source of funding for the hijackers would be of little practical value”.

JR Wirth
JR Wirth
Reply to  skeptic16
16 days ago

People like that use Hawalas in the back of meat markets. You can’t police that. Except with immigration controls like Japan.

RoBG
RoBG
Reply to  skeptic16
16 days ago

That’s why the kept the infamous “28-pages” of the JIST report redacted for fourteen years after the attacks.

Tim from Nashua
Tim from Nashua
17 days ago

The ((( Money Men))) have bought into crypto currency in order to manipulate it any way they wish it to go.

skeptic16
skeptic16
Member
Reply to  Tim from Nashua
16 days ago

Could be a trial balloon from the Fed.

The Wild Geese Howard
The Wild Geese Howard
16 days ago

In Pelosi’s office, reading her staff’s emails:

https://twitter.com/ElijahSchaffer/status/1346905425543917573?s=19

The Wild Geese Howard
The Wild Geese Howard
16 days ago

Alleged active shooter in the US House:

https://twitter.com/MEPFuller/status/1346905489561579532?s=19

BTP
Member
Reply to  The Wild Geese Howard
16 days ago

Ya love to see it

The Wild Geese Howard
The Wild Geese Howard
16 days ago

Pelosi denied National Guard deployment by Pentagon:

https://twitter.com/AuroraIntel/status/1346910379650138117?s=19

ABCer
ABCer
16 days ago

https://www.revolver.news/
If they rise, those who rose – support them.
The Capitol is lit right now.
This is what these things – revolutions or revolts – look like.

Falcone
Falcone
16 days ago

I will say one thing

Now that people have broken into the capitol, and are rummaging around in their desks etc, it’s like a home invasion. They won’t feel safe for a LONG time.

HOORAH !!!!!

The Infant Phenomenon
The Infant Phenomenon
16 days ago

In the end, ZMan, I did follow your advice and I did NOT vote in the GA Senate election runoffs. You were right and I was wrong, but that did not become clear to me until a week or two after I posted here to say that we HAD to vote GOPe to prevent these niggaz from getting the chance and the funds to set up machines within what remains of my native state, to which my family has given two governors and two First Ladies, starting in 1795 and running up to the 1840s. So what has just happened… Read more »

Dutch
Dutch
Reply to  The Infant Phenomenon
16 days ago

For every vote, there would simply have been an extra vote manufactured, going in the other direction. The game is easy to see, once you understand the ground rules.

WJ0216
WJ0216
Reply to  The Infant Phenomenon
16 days ago

Now, because they won, legitimately or not, we get to live in Mexico, if we are lucky. If we aren’t lucky then the dems import sub Saharan Africa here and we live in the replication of the real Lagos.

Felix Krull
Member
16 days ago

The best way to look at a blockchain is like a public ledger. This means that you can circumvent the Federal Reserve, but it also means that everybody can see what you’re spending your money on, scrutinize your every single transaction. There’s a lot of uses for blockchain, not just as barter chips. You could use them for contracts, for instance: “This blockchain certifies that Mr. Seller has transferred ownership of a car, make and model so-and-so, engine serial so-and-so, license plate so-and-so, to Mr. Buyer.” The big problem is not as such that the government won’t force business to… Read more »

Cloudswrest
Cloudswrest
16 days ago

 That is done by examining its provenance. Each use becomes part of the coin’s validation, so it carries the history of its usage. The argument here is that government cannot access this, but the threat of prison will easily solve this problem.

Monero solves this problem in that the provenance is also hidden by strong cryptography at the protocol level, and not available to anyone, so the coins are truly fungible. So “coins” can’t be tainted, blacklisted, or tracked, i.e., there is no way to tell if the money is “dirty” by looking at the blockchain.
https://duckduckgo.com/?q=monero&ia=cryptocurrency

Epaminondas
Member
16 days ago

Now that Pence has betrayed us, this discussion somehow seems irrelevant. The truth about the GOP has been revealed. We are in another age. Plan for it.

JR Wirth
JR Wirth
Reply to  Epaminondas
16 days ago

Now that Pence has betrayed us? He never was FOR us. And neither was orange fuck, or his fake titted daughter, or his staff. And neither is anyone, of either party in the Congress. We’ve been ALONE for a long time.

Gunner Q
Reply to  JR Wirth
16 days ago

I believed Trump was at least on his own side… until today when he told his supporters to obey the government officials instead of Draining the Swamp via the torches-and-pitchforks method. Which after November 5, was the only way it’s ever going to get drained.

Lawisdead
Lawisdead
Reply to  Gunner Q
16 days ago

Unarmed and lightly armed continuing the fight? Women and children?
No, it went as badly and as well as it could’ve gone. The mask is off, the establishment exposed, the government illegitimate, and the people sacked the Capitol peacefully, and only a patriot died. Mittens was called a traitor on a plane for hours. They will never fly commercial.

Bilejones
Member
16 days ago
Cloudswrest
Cloudswrest
16 days ago

One reason for this is that all cryptocurrencies are designed around a math problem that gets exponentially harder to solve as time goes on. Put another way, each new coin costs more to produce than the previous coin. If the first coin cost X, the next coin costs x+n with n being the slight increase in cost to produce it. If the first ten coins average out to 10 USD and the next ten are 20 USD, then the average value of each coin has gone up by 50% just by the mere fact of their creation. This is basically… Read more »

Last edited 16 days ago by Cloudswrest