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bitcoins

Blankpage said:
Isn’t he the guy who for years has been predicting the DOW would match the price of one oz of gold. Who 15 years ago was touting $5000/oz gold and something like $200/oz silver, plus hyperinflation.
Hadn’t listened to anything from him in over a decade. The folks who have followed his advice must be pissed by now.
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To some extent you are right about Peter S, although i would have to say that i think his philosophy is not wrong. The Keynesians have successfully evaded Peters predictions in a lot of ways, but peter did correctly predict their methods of doing so. And those methods (trillions of dollars printed/perpetual low % interest rate) seem to be leading our economy to the places he said it would go, its just that he (and i) thought that it would have happened several years ago.

I will also admit that his predictions for gold and silver have not come, but again, i dont think anyone saw to what extent the monetary powers were willing to suppress them. Im still of the opinion that at some point the banking industry will let off the brakes. JP Morgan hasnt accumulated 700m ozs of silver for no good reason. They easily could have suppressed the price WITHOUT buying any.
 
bpw said:
All those hedge funds institutions and big names aren't even able to beat the stock market reliably, why would we think they are any better at investing in crypto?
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Whether we believe they are good at what they do or not, they invest trillions of dollars for the masses and are putting some of that money in crypto.

redruM said:
This guy knows exactly who the sucker is

[youtube]aVV6cI2T5Rs[/youtube]
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Schiff's own son is against him. His son sold his silver and gold and went all in on Bitcoin. It doesn't mean anything except it's ironic since his dad is iconic in the metals space.
 
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Down almost 10% today on the news that the FBI and DOJ have the ability to seize transfers(at least thats how I'm reading it). Ransome seizures can happen apperently. What am i missing?

As i see it, it can be lost, it can be seized, its traceable, and its highly volatile. These things are significant...
 
jiffy said:
Schiff's own son is against him. His son sold his silver and gold and went all in on Bitcoin. It doesn't mean anything except it's ironic since his dad is iconic in the metals space.
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Right - his 18-year old son who's never had a job and who is using his allowance as some Hail Mary hedge in case bitcoin works out :laughing

Nothing new under the sun. Cocky, know-it-all youngster thinks he knows better than his dad. This douche uses money his dad gave him to go all-in on bitcoin, publicly announces it (making his father look bad)... and then, 3 months later, bitcoin is down 50% lol. I don't think bringing up this factoid does you or your cause any justice.

As all Prodigal Sons do, this sack of chit will return home with his tail between his legs.... and will get a bail-out in the form of a dynastic inheritance that his father built on gold and silver. :rolleyes :barf
 
Blankpage said:
Isn’t he the guy who for years has been predicting the DOW would match the price of one oz of gold. Who 15 years ago was touting $5000/oz gold and something like $200/oz silver, plus hyperinflation.
Hadn’t listened to anything from him in over a decade. The folks who have followed his advice must be pissed by now.
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Actually, he's been touting gold for over 20 years - since it was <$300 per ounce. Meanwhile... increasing, problematic inflation - along with everything else he portends - should be obvious to anyone who doesn't blindly believe what their government tells them to believe.

I can understand how Peter looks like the Boy Who Cried Wolf. Unfortunately, there's one thing folks like you seem to ignore about this fable: the wolf is real and ultimately wipes out the village.
 
SM610 said:
To some extent you are right about Peter S, although i would have to say that i think his philosophy is not wrong. The Keynesians have successfully evaded Peters predictions in a lot of ways, but peter did correctly predict their methods of doing so. And those methods (trillions of dollars printed/perpetual low % interest rate) seem to be leading our economy to the places he said it would go, its just that he (and i) thought that it would have happened several years ago.

I will also admit that his predictions for gold and silver have not come, but again, i dont think anyone saw to what extent the monetary powers were willing to suppress them. Im still of the opinion that at some point the banking industry will let off the brakes. JP Morgan hasnt accumulated 700m ozs of silver for no good reason. They easily could have suppressed the price WITHOUT buying any.
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Nor have central banks around the world been hoarding gold for the last 20 years for no good reason.

Yes, yes - this is precisely why they called it the "American Dream"... because you have to be asleep to believe it.
 
SM610 said:
Down almost 10% today on the news that the FBI and DOJ have the ability to seize transfers(at least thats how I'm reading it). Ransome seizures can happen apperently. What am i missing?

As i see it, it can be lost, it can be seized, its traceable, and its highly volatile. These things are significant...
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*crickets*

I think you're missing all the cool acronyms, like BTFD, HODL, & FOMO :laughing

Central bank digital currency is imminent. This will be a hard lesson to learn for the crypto heads. The majority, however, will learn their hard lesson from their blind faith in the USD and the artificially-inflated stock market.
 
SM610 said:
Down almost 10% today on the news that the FBI and DOJ have the ability to seize transfers(at least thats how I'm reading it). Ransome seizures can happen apperently. What am i missing?

As i see it, it can be lost, it can be seized, its traceable, and its highly volatile. These things are significant...
Click to expand...
One of the valuable qualities of Bitcoin is that it is traceable. The whole argument it is used by nefarious groups to be untraceable has always been a garbage argument. It was stated in a few articles the most likely way the FBI retrieved the ransom was by breaking into the organizations servers and getting the passwords. Essentially sloppy IT skills and going up against one of the most powerful governments in the world. If you keep your password private, it can't be taken, there isn't an avenue for that to be possible.

https://www.cnbc.com/2021/06/08/fbi...assword-storage-to-seize-colonial-ransom.html


redruM said:
Right - his 18-year old son who's never had a job and who is using his allowance as some Hail Mary hedge in case bitcoin works out :laughing

Nothing new under the sun. Cocky, know-it-all youngster thinks he knows better than his dad. This douche uses money his dad gave him to go all-in on bitcoin, publicly announces it (making his father look bad)... and then, 3 months later, bitcoin is down 50% lol. I don't think bringing up this factoid does you or your cause any justice.

As all Prodigal Sons do, this sack of chit will return home with his tail between his legs.... and will get a bail-out in the form of a dynastic inheritance that his father built on gold and silver. :rolleyes :barf
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I said it has little meaning except it's ironic that it is his own son.
 
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If that's true, it's kind of ironic. They got money due to shitty InfoSec, and lost it due to shitty InfoSec. :laughing
 
...aaaand today its up 12%.

:laughing

Is there any other "currency" that does this? Crazy fluctuations
 
Interesting statement on power requirements:
According to a University of Cambridge index, Bitcoin currently consumes about 97 terawatts per hour, which exceeds the power usage of entire countries such as Kazakhstan and isn’t far off what is used by the Netherlands.
Source
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I assume that will continue to get worse.
 
Also I guess Tasmania president made an announcement about their acceptance of bitcoin. Not sure if it's just window dressing.
 
well, I dumped my Ethereum over the weekend, took a 20% loss or so. I'm not interested in the ups and downs, it's for younger guys.
 
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