indeed, bitcoin has lost 30% of its "value" in the last two months while gold has been pretty steady ...
Posted on 01/22/2022 10:27:57 AM PST by aMorePerfectUnion
It doesn't seem to be "in place" chief.
What's in YOUR wallet?
indeed, bitcoin has lost 30% of its "value" in the last two months while gold has been pretty steady ...
Bitcoin will come back, because using a pure wallet makes it relatively untraceable.
The problems with it now are Russian banned it, the techie intensity is now in NFTs, and many of the smaller coins have bubbled and are at unreasonable prices.
It will probably regain its value to 50k by summer.
Yes, but it's not a zero-sum game. You can convert BTC to gold, or silver, or real estate, etc.
Keynesian: counter-cyclical government spending … up spending in bad times, reduce spending in good times
Keystone Keynesian: always increase spending … must spend more in bad times, opportunity to spend more in good times, think “Keystone Cops”
Even as early as 1998, IIRC, the spendthrift “moderate” Republicans had wrecked financial discipline in the part, per 1998 Reason magazine’s Not So Radical Republicans.
After 2000 these very rapidly realized that they were the go to people if W wanted anything … with the result being that they reached across the isle to ever eager to spend Democrats (and even jumped ship as Jumping Jim Jeffords did). Have you noticed that spendthrift Republicans — “moderates” — never realize that they are what lose majorities?
So, back track a moment: the act you describe essentially cuts off the gravy train of spend and spend some more. It goes against everything that progressives and poorly termed “moderates” stand for and despite the fact that moderate Republicans may somewhat restrain their spendthrift ways to cooperate with conservatives if a Democrat is in the White House that has historically evaporated should a Republican be in the White House.
(aside: It also undercuts the bankers who really, really matter because usually inflation lags behind its cause … allowing those at the tippy top to live very well off of the churn, buying up actual assets along the way. Soaking those beneath them with glee.)
Do you really think they’d, the moderate Republicans, secretly cooperate with conservatives to cut off their spending addiction? Do you think Clinton would betray his party’s basic urge to piss off money, which his own Clinton Foundation fortunes were somewhat tied to, in order to sign such a bill? Do you think “progressives” would keep silent before passage was rammed through?
Really?
A lot. There is a fixed amount of Bitcoin.
Gold fluctuates daily, so you’d have to take the current market value of gold, divide that by 22,000,000 (the maximum number of bitcoins that could possibly exist - as best I know) and you’d come up with a value of $575,000 each based on yesterday’s market valuation of Gold.
This presumes you own a dividend paying stock. I'm not sure what percent of stocks pay dividends.
Good catch on my terminology.
No, it is not “in place”. It is, however, waiting in the wings.
“This presumes you own a dividend paying stock. I’m not sure what percent of stocks pay dividends.”
No. Let’s say you own a share in a farm. The farm pays no dividend. But the farm produces something. As, opposed to gold, which does not produce anything. The farm has a value to society and therefore society has need of the farm. Society may want the gold, but it needs the farm. (Pretty sure this was the flavor of Warren’s comments.)
“NESARA”
No trannies, womyn, or colored people on the notes, so it can’t be true.
;)
Yep, there’s that.
Getting rid of the central bankster hamilton, though, is key.
Had that conversation with someone I thought had some common sense. He was going on about how great Bitcoin was and how he was getting in to it. I said, "What if the Feds outlaw all crypto except FedCoin?" He went on about how the Feds couldn't trace it, blah, blah, blah. I asked again, and he continued. I finally said, "You know as well as I do, when the Feds outlaw all non-Fed crypto, and it looks like they eventually will, you won't be involved with it because it's gonna be illegal." His balloon deflated and he eventually said, "Well, yeah."
Crypto may as well be Pokemon cards for all the real value it holds. It's value lies in what someone else is willing to pay for it. If/when it becomes illegal to use any non-Fed approved crypto, the value of those illegal types will sky rocket for anyone willing to become a criminal. For most, the risk simply won't be worth it.
That's my how ever many Troy ounces of silver 2 pennies can buy.
How much of your wealth is no more than a number? The amount of physical money (dollars, coins....) is dwarfed by the number of dollars that are claimde to exist, but in truth they only exist as “1”s and “0”s in a computer.
One further note for BTC....
Like any other commodity, BTC rises and falls somewhat on its relative scarcity. So, as various governments take down or limit BTC’s mining, BTC price rises.
Think of that rise as BTC’s last breath.
It’s artificial, since it derives from the process of shutting it down. Like an incandescent bulb shining brightest before it burns out and goes dark.
Interesting thoughts. Time will tell.
My take is that governments prefer their own virtual currency in order to:
1. Track every transaction
2. Tax every transaction
3. Control every citizen and enforce compliance.
BTC is a threat to that.
That said, the current Marxist takeover of world governments will fail.
Communist governments are the first to outlaw crypto.
Many nations embrace crypto - at least for now.
For those who see value, however they define it, this is a buying opportunity.
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