Don't think it will stay in private hands and why anyone would trust in something you CANNOT physically hold or understand the system behind it is beyond me.
I got into it when it first started, at 105 per coin (never saw the 'coin') and when it hit 300+ tried to cash out and 'mysteriously' my account was gone!.....gee, imagine my (lack 0f) shock!
Not a bankers means of control, true....but someone other than YOU CONTROLS IT!!
Hackers had stolen more than $1.38 billion worth of crypto by June 24, 2024, compared with $657 million in the same period in 2023, TRM Labs said in a report. The median theft was one-and-a-half times larger than the year before, the report said.Jul 5, 2024
I remember Trump saying the dollar was the king. Vivek had a talk with Trump, probably about all the votes he would get by jumping on the Bitcoin boat. I prefer Bitcoin as it is, decentralized. Not a bankers means of controlling everyone.
It depends on how its used. Also the person is not traced, its the Bitcoin. Bitcoin can be used Peer to peer. Going through people/companies like the truckers did leaves you open, like the bank is able to shut down your account. That's why people are told to keep BTC off exchanges and put it in a cold wallet. Bitcoin is still in its early stages. I'm no expert, but the dollar is dying and Gold and silver are hard to use.
The problem is, BTC is also hard to use. Not many companies accept it and I don't know of any government agency in the U.S. that accepts it for paying fees or taxes. You have to convert it back into dollars, just like gold and silver, and pay transaction fees. The advantage of physical gold & silver is that it isn't hackable online and there's no account that can be seized like on Coinbase.
The Idea is that people will just use Bitcoin and the criminal bankers can just go away. Seized? well if its on an exchange, like how your dollar can be held by the banks. That's why the cold wallet. I think Bitcoin is revolutionary. A freedom coin. The dollar is dying and you will be offered a CBDC from the Fed, the same bankers who took care of the dollar. I think the debt is eating us alive.
Those are valid points. I agree that dollars held by an institution are no safer from confiscation or loss than cybercurrency. How can someone mitigate the risk of a cold wallet malfunctioning? Can more than one cold wallet be used at the same time for redundancy? Can BTC in a cold wallet be used without going through an exchange in order to reduce counterparty risk? Also, why isn't Monero worth more than BTC since it's a privacy coin which offers more freedom?
You need to do some research. Bitcoin is the only decentralized coin. Read up on cold wallets used Peer to peer. Montero is another Centralized crap coin. Its been pre mined, the creator owns a large chunk and can sell and wipe people out. pump and dump.
I think it’s ok near term but I don’t think the FED owners will ultimately allow any off ramps. If you recall in 1933 the govt banned gold being held by individuals and demanded it be turned in or face 10 years in prison and a 10K fine. Then after the people turned it in the FED gave themselves a 50% instant profit by raising the price of gold at that point. It took about 40 years for gold to be legally owned by citizens in the U.S. after that. I think crypto is simply a 3 letter agency creation to get people used to digital money. I could see those in power being allowed to hold Bitcoin or perhaps even Wall Street but eventually it will be seized and used against you. Or I could see you getting access to sell it but only if you comply with death jabs and have a slave obedience social credit score. I don’t think there is an encryption algorithm the government doesn’t have the keys to so…
Millions have been killed and permanently injured with mRNA “vaccines” and the soy boys have done nothing as the sheeple think it was an actual health care issue. So I’m not very confident we will see any mass uprising. Perhaps isolated incidents like in my home if my door is kicked in for a FEMA camp bus parked outside because I didn’t comply then I just hope I can get to weapons fast enough to make a stand and take out one or more of these jack boot thugs. It’s not a popular option/opinion but at no time in history did one comply or vote their way out of tyranny. Eventually peace and freedom comes down to the end of a muzzle, battle ax, etc.
Cryptocurrencies are like stocks and are liabilities and bets, not real assets. You know real assets when you recycle and get a price. If there is no money, then you need to see the value in the item itself. Gold and silver are used to make expensive products like cell phones and computers and solar panels. Paper is used to make inexpensive products, so paper has a very low intrinsic value, but cryptocurrencies are not used to make any products, so it has zero intrinsic value. If the cryptocurrency is used (backed) with gold and silver like Kinesis money "Live from the Vault" with Andrew Maguire, then the currency may have real value.
Try to think. Fiat cryptocurrencies have no intrinsic value just as fiat paper currencies have little intrinsic value. Try thinking and not just replying. Liabilities and assets can have great value or no value, but their intrinsic value is their use as the thing it is made of. Electronic storage has no real intrinsic value and paper (from paper currencies) has little value while gold and silver always have high value. Cabbage patch dolls had a high value at one time just like tulip bulbs, but their intrinsic value is very small.
Long term, crypto is just like any other unbacked fiat currency. Sure it may require a rigorous proof of work right now, but it neglects the fact that value is subjective, and things change over time. Without that proof of work, its just like any other fiat currency tied to the dollar.
Currently, depending on the crypto, there are unknown amounts of leverage within the valuation, so just like any fiat, it has a large bubble waiting to pop.
The problem with fiat in general is, it needs to maintain three elements for it to be money, and the third element is medium of exchange. This element relies mostly on credibility. Credibility that it will retain those three elements, and credibility that the people who manage and oversee it will not take actions that intentionally devalue the whole.
Having already run many different currencies into the ground directly or indirectly, on such a widescale, there can be no presumption or trust that these elements will remain true. Exchange of medium means people must both be willing to hold the currency, enough to trade goods for it.
When your name is mud, people don't do business with you. Reputation matters. When exchanges stop happening, food becomes a problem. Unrest then progressive violence. This is what has happened many times in the historic record. Working in exchange for food is mentioned as a pivotal failure boundary in Adam Smith's Wealth of Nations, alongside being able to make enough money to support oneself, their wife, and three children. The latter has already failed. The next one up is food which is not far off because of monopolistic wage suppression that goes unpunished, and business sieves that have concentrated production into few hands.
I think Crypto is/was a pathway to CBDC. I tend to believe that If folks spent more attention, time & energy figuring out how to operate & meet their most basic needs for life without the need for a cell phone (& Internet access), the implementation of CBDCs and digital IDs would have been a whole lot more challenging for the Powers-That-Shouldn't-Be to implement. (I'm not saying to ditch the Internet, but rather to simply figure out how to *survive* without it.) Instead, by and large, people have embraced digital technology to the point that most people can't live without it. And as a result, the PTSB have the masses in the palm of their hands.
My humble opinion……it is a pathway towards the CBDC……..preparing the sheeple for inevitable…….
Don't think it will stay in private hands and why anyone would trust in something you CANNOT physically hold or understand the system behind it is beyond me.
I got into it when it first started, at 105 per coin (never saw the 'coin') and when it hit 300+ tried to cash out and 'mysteriously' my account was gone!.....gee, imagine my (lack 0f) shock!
Not a bankers means of control, true....but someone other than YOU CONTROLS IT!!
Hotel California: “You can check-out any time you like, but you can never leave!"
Bitcoin: "You can buy it any time you like, but you can never sell it"
👍
My point exactly!
Hackers had stolen more than $1.38 billion worth of crypto by June 24, 2024, compared with $657 million in the same period in 2023, TRM Labs said in a report. The median theft was one-and-a-half times larger than the year before, the report said.Jul 5, 2024
I follow Mr Armstrong and he has maintained since the beginning that cryptos ARE the pathway to CBDCs...
The powers that be wanted people to get used to them, to invest with them, etc.
You can go to armstrongeconomics.com and just peruse that website......
It has always been a setup. We are living in a 3-D matrix. Fake money, fake shootings, staged attacks and "reality shows".
I remember Trump saying the dollar was the king. Vivek had a talk with Trump, probably about all the votes he would get by jumping on the Bitcoin boat. I prefer Bitcoin as it is, decentralized. Not a bankers means of controlling everyone.
It's traceable and trackable. A whole lot of people went down for using it on the silk road.
It depends on how its used. Also the person is not traced, its the Bitcoin. Bitcoin can be used Peer to peer. Going through people/companies like the truckers did leaves you open, like the bank is able to shut down your account. That's why people are told to keep BTC off exchanges and put it in a cold wallet. Bitcoin is still in its early stages. I'm no expert, but the dollar is dying and Gold and silver are hard to use.
The problem is, BTC is also hard to use. Not many companies accept it and I don't know of any government agency in the U.S. that accepts it for paying fees or taxes. You have to convert it back into dollars, just like gold and silver, and pay transaction fees. The advantage of physical gold & silver is that it isn't hackable online and there's no account that can be seized like on Coinbase.
The Idea is that people will just use Bitcoin and the criminal bankers can just go away. Seized? well if its on an exchange, like how your dollar can be held by the banks. That's why the cold wallet. I think Bitcoin is revolutionary. A freedom coin. The dollar is dying and you will be offered a CBDC from the Fed, the same bankers who took care of the dollar. I think the debt is eating us alive.
Those are valid points. I agree that dollars held by an institution are no safer from confiscation or loss than cybercurrency. How can someone mitigate the risk of a cold wallet malfunctioning? Can more than one cold wallet be used at the same time for redundancy? Can BTC in a cold wallet be used without going through an exchange in order to reduce counterparty risk? Also, why isn't Monero worth more than BTC since it's a privacy coin which offers more freedom?
You need to do some research. Bitcoin is the only decentralized coin. Read up on cold wallets used Peer to peer. Montero is another Centralized crap coin. Its been pre mined, the creator owns a large chunk and can sell and wipe people out. pump and dump.
Both. It's the "pathway" to the cbdc "future".
Bet against the debt. Become your own central bank. Own physical silver.
I think it’s ok near term but I don’t think the FED owners will ultimately allow any off ramps. If you recall in 1933 the govt banned gold being held by individuals and demanded it be turned in or face 10 years in prison and a 10K fine. Then after the people turned it in the FED gave themselves a 50% instant profit by raising the price of gold at that point. It took about 40 years for gold to be legally owned by citizens in the U.S. after that. I think crypto is simply a 3 letter agency creation to get people used to digital money. I could see those in power being allowed to hold Bitcoin or perhaps even Wall Street but eventually it will be seized and used against you. Or I could see you getting access to sell it but only if you comply with death jabs and have a slave obedience social credit score. I don’t think there is an encryption algorithm the government doesn’t have the keys to so…
If they ever try to confiscate gold again, it's the time to act.
Millions have been killed and permanently injured with mRNA “vaccines” and the soy boys have done nothing as the sheeple think it was an actual health care issue. So I’m not very confident we will see any mass uprising. Perhaps isolated incidents like in my home if my door is kicked in for a FEMA camp bus parked outside because I didn’t comply then I just hope I can get to weapons fast enough to make a stand and take out one or more of these jack boot thugs. It’s not a popular option/opinion but at no time in history did one comply or vote their way out of tyranny. Eventually peace and freedom comes down to the end of a muzzle, battle ax, etc.
Cryptocurrencies are like stocks and are liabilities and bets, not real assets. You know real assets when you recycle and get a price. If there is no money, then you need to see the value in the item itself. Gold and silver are used to make expensive products like cell phones and computers and solar panels. Paper is used to make inexpensive products, so paper has a very low intrinsic value, but cryptocurrencies are not used to make any products, so it has zero intrinsic value. If the cryptocurrency is used (backed) with gold and silver like Kinesis money "Live from the Vault" with Andrew Maguire, then the currency may have real value.
Crypto has no value, especially Shiba Inu (SHIB) which has a $10 BILLION DOLLAR market cap.
Try to think. Fiat cryptocurrencies have no intrinsic value just as fiat paper currencies have little intrinsic value. Try thinking and not just replying. Liabilities and assets can have great value or no value, but their intrinsic value is their use as the thing it is made of. Electronic storage has no real intrinsic value and paper (from paper currencies) has little value while gold and silver always have high value. Cabbage patch dolls had a high value at one time just like tulip bulbs, but their intrinsic value is very small.
It's a tool... just like a firearm... and one we will have to utilize... but like any sword, it has two sides.
Absolutely!
Long term, crypto is just like any other unbacked fiat currency. Sure it may require a rigorous proof of work right now, but it neglects the fact that value is subjective, and things change over time. Without that proof of work, its just like any other fiat currency tied to the dollar.
Currently, depending on the crypto, there are unknown amounts of leverage within the valuation, so just like any fiat, it has a large bubble waiting to pop.
The problem with fiat in general is, it needs to maintain three elements for it to be money, and the third element is medium of exchange. This element relies mostly on credibility. Credibility that it will retain those three elements, and credibility that the people who manage and oversee it will not take actions that intentionally devalue the whole.
Having already run many different currencies into the ground directly or indirectly, on such a widescale, there can be no presumption or trust that these elements will remain true. Exchange of medium means people must both be willing to hold the currency, enough to trade goods for it.
When your name is mud, people don't do business with you. Reputation matters. When exchanges stop happening, food becomes a problem. Unrest then progressive violence. This is what has happened many times in the historic record. Working in exchange for food is mentioned as a pivotal failure boundary in Adam Smith's Wealth of Nations, alongside being able to make enough money to support oneself, their wife, and three children. The latter has already failed. The next one up is food which is not far off because of monopolistic wage suppression that goes unpunished, and business sieves that have concentrated production into few hands.
The future, bitcoin only.
I believe crypto currency to be a fool”s errand!! Nothing bets tangible assets—food, water and silver!
I think Crypto is/was a pathway to CBDC. I tend to believe that If folks spent more attention, time & energy figuring out how to operate & meet their most basic needs for life without the need for a cell phone (& Internet access), the implementation of CBDCs and digital IDs would have been a whole lot more challenging for the Powers-That-Shouldn't-Be to implement. (I'm not saying to ditch the Internet, but rather to simply figure out how to *survive* without it.) Instead, by and large, people have embraced digital technology to the point that most people can't live without it. And as a result, the PTSB have the masses in the palm of their hands.
Stranger In A Strange Land