The Bitcoin Standard

Get gold and silver while you marvel at bitcoin haha.. Wealth cycles, history cycles, political cycles and social cycles are all at play in these MARKETS. All of which are at a point in history where change is due and coming events will transform life for our generations as we know it. I'm talking the next 50 years outward.

Many people are looking short sighted at some of these facts in my experience, as mature Infj's I can't help but feel we have a natural edge to look at the bigger picture naturally :) advantage really!

I'm bullish for some crypto, bullish for bullion but as mentioned above both are being strangled in their own way as usual. However I do genuinely believe that could be temporary with regards to price discovery, however not regulations. One thing I do know with G7 countries approaching and breaking 120% gdp.. The currencies are on borrowed time.

In 5000 years of history if this ever happens, gold takes the trophy and rebalanced the system. There is that much debt on the table now its impossible for it not to appreciate, as banks revalue gold to help clear up debt.

There are many other opinions of course the above is just mine after several years of investigating for myself. Feel free to disagree as we do so well haha

Jay
 
INFJay said:
Get gold and silver while you marvel at bitcoin haha.. Wealth cycles, history cycles, political cycles and social cycles are all at play in these MARKETS. All of which are at a point in history where change is due and coming events will transform life for our generations as we know it. I'm talking the next 50 years outward.

Many people are looking short sighted at some of these facts in my experience, as mature Infj's I can't help but feel we have a natural edge to look at the bigger picture naturally :) advantage really!

I'm bullish for some crypto, bullish for bullion but as mentioned above both are being strangled in their own way as usual. However I do genuinely believe that could be temporary with regards to price discovery, however not regulations. One thing I do know with G7 countries approaching and breaking 120% gdp.. The currencies are on borrowed time.

In 5000 years of history if this ever happens, gold takes the trophy and rebalanced the system. There is that much debt on the table now its impossible for it not to appreciate, as banks revalue gold to help clear up debt.

There are many other opinions of course the above is just mine after several years of investigating for myself. Feel free to disagree as we do so well haha

Jay
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Not a bad theory about gold being revalued. That is the only thing that gold currently still has over Bitcoin - the fact that is held by central banks in large quantities. The cartel could come together and decide to revalue it.

Otherwise gold and silver are just dumb rocks. Bitcoin is a living ecosystem utilizing superior technology. Market participants over the last 10+ years clearly showed which they prefer for the future. The returns on BTC vs gold are embarrassing to look at. Gold is being demonetized while Bitcoin had the fastest price discovery of all assets in human history.

I agree about currencies living on borrowed time. I see Bitcoin as a hedge against that. You're right that throughout human history gold was a perfect hedge/safety asset for such times, but Bitcoin didn't exist then.

Your analysis is good, just don't back the losing horse.
 
Definitely agree, this is why I own both haha, not taking any chances :) either way with regards to the value, with the gold silver ratio where its been in the past 24 months and with how the financial system works its a matter of time before gold and silver realise the catch up.

We may be facing hard times with regards to services and access.. In a world where that's the case gold and silver will rule. In any other circumstances I see a few coins do very well, then slowly drop in numbers to one or two.

Just my 2p :) Whatever that's worth these days lol

All the best
 
Enso said:
Time to buy the dip guys.
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Actually, it's time to reflect on your obsession with the unfounded belief that wealth can bring feelings of contentment, security, or self esteem; or whether goods and services can fix whatever discontentment isn't being addressed by your own daily activity.
 
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Sometimes Yeah said:
Actually, it's time to reflect on your obsession with the unfounded belief that wealth can bring feelings of contentment, security, or self esteem; or whether goods and services can fix whatever discontentment isn't being addressed by your own daily activity.
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it was a pun based on my first response :P
 
Sometimes Yeah said:
Actually, it's time to reflect on your obsession with the unfounded belief that wealth can bring feelings of contentment, security, or self esteem; or whether goods and services can fix whatever discontentment isn't being addressed by your own daily activity.
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Look what is happening in Canada now. People gathered over 9 million dollars on GoFundMe as a support for truckers. Under the pressure of Trudeau, GoFundMe froze those funds.

Just another reason why we need decentralized, permissionless monetary network like Bitcoin.

Bitcoin is more than just making individuals rich. It can and will make world a better place.
 
BTC has an undeniable first to the game advantage, but the fact it is so easily traceable and that the FRN is being destroyed at warp speed puts it in a frail place for taxes.

I'm all for keeping a sensible amount in a portfolio, but as the Rothschild banking system goes down kicking and screaming by using its government henchmen, watch for a privacy coin boom to perhaps outpace it.
 
My take is that most or all finance is unethical because it drains resources without producing anything of value. It simply moves money around. It’s simply exploitation. I want to live an ethical or authentic life more than most things. I won’t exploit others because I don’t want to be exploited. I’m surprised more INFJs can’t see this.
 
David Nelson said:
My take is that most or all finance is unethical because it drains resources without producing anything of value. It simply moves money around. It’s simply exploitation. I want to live an ethical or authentic life more than most things. I won’t exploit others because I don’t want to be exploited. I’m surprised more INFJs can’t see this.
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How are you exploiting others by saving in hard money that cannot be inflated away by central bankers?

People in the West are in for a shock. We think that hyperinflation only happens in 3rd world countries...
 
philostam said:
How are you exploiting others by saving in hard money that cannot be inflated away by central bankers?

People in the West are in for a shock. We think that hyperinflation only happens in 3rd world countries...
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Finance is a zero sum game. If you gain with no positive contribution to society, you must be taking off others in some way. Basic logic.
 
You are in a totally different mindset to me.

I think the road to serfdom is working exponentially harder for a currency growing exponentially weaker.

It's only fair to want to keep your purchasing power/monetary energy trough space and time. Inflation is literally sucking out energy out of you; it's an equivalent of being frozen to death.
 
Sorry but you have no clue, and I'm afraid you're gonna get wiped out in the next 5-8 years if you're not careful. There is still time to learn.

Bitcoin or finance is not a zero sum game, that's complete bullshit. No one needs to lose for Bitcoin to appreciate in value. It's a scarce monetary asset and the more people flock to it, the more it will appreciate in value. The more people I "orange pill", the better it is for the network.
 
David Nelson said:
Finance is a zero sum game. If you gain with no positive contribution to society, you must be taking off others in some way. Basic logic.
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True, I had a friend that did currency trading and he was really good at it. He was broke, but he had a simulation account that was up almost 1 million, it was exactly like a real account, just not real money. He said to me that essentially I am taking money from other people, whether it be some hedge fund or whateva, my wins are their losses.
 
Bitcoin is not an "online broker", lmao. The point is to buy it and store it in a cold wallet. It's like digital gold. Who are you ripping off by owning scarce assets, be it gold, real estate, Bitcoin etc?

There are no informed critics of Bitcoin. At least spend 20-40 hours studying it before criticizing it.

Whatever, you're not ready for it yet. Everyone will buy it at the price they deserve.
 
Buying anything is not in itself unethical, but buying a currency is to make profit from zero contribution. Finance is a zero sum game at any moment in time.

Have you also considered his secure it is? Since it isn’t real, it could evaporate instantly. I wouldn’t be surprised if some shady people are behind it, like most big finance. The world is increasingly hard to predict and finance is out of control. I wouldn’t trust a crypto currency even if I didn’t care about the ethics.

Btw I also don’t believe in gambling. Also unethical imo
 
I guess any currency whatsoever is based on a fiction. What exactly is it at the end of the day, but tokens assigned an artificial value? Like any currency, as long as sufficient people believe in bitcoin, it will hold or increase in value compared with other currencies, and if they stop believing in it then it will drop in value. It seems to me it's a law of nature as strong as the law of gravitation, I guess. The technology is really secondary to this, though it does have a strong secondary influence, because like gold, there is a restriction on the amount of bitcoin that can be generated. I guess a big risk with a crypto currency is if someone finds a way to hack the underlying system - by destroying it perhaps, or ramping it externally. Essentially, all that is necessary is to destroy confidence in it and its value will collapse, at least temporarily if not permanently.

I can understand @David Nelson 's ethical concerns. I'm very uncomfortable with currency dealing as a way of making money, except as a part of the fees necessary for swapping currency as part of the financing of the manufacture and trading of goods and services internationally. I'm much more laid back about private individuals spreading savings around a number of different currencies as a way of reducing risk to their value through crises and inflation. I can't see any problem ethically in putting some into bitcoin - ethically it's no more significant than investing in inflation-proofed government loan stocks, or simply holding cash accounts in dollars and euros as well as sterling (say). I can't see that adding a bitcoin account is any different than someone from the UK having some money stored in a dollar account.

I think the biggest problem is having a clear understanding of what it is and how it works - there seem to be plenty of sources of information about that, but I haven't really looked hard at it yet. I wouldn't put cash into something I don't understand. I think what gives me a lot of unease about it is that it's value against conventional currencies has gone up vastly more than they have depreciated through inflation, which stinks of bubble. The fact that its growth (in terms of bitcoin in circulation) is restricted automatically gives some reassurance that such growth in value is not all bubble, but it still makes me uneasy. I do wonder if some shady organisation is ramping it - but here I'm just giving more structure to my ignorance of how it works maybe?
 
One difference between Bitcoin and any currency in large use out there today is the finite amount.
The comparison to gold is a fair one in this sense. The value of Bitcoin will only rise and fall based on perception of value.
It is still a currency predicated on the belief in its value.
There will ultimately be some form of cryptocurrency that the world uses, but it will not be Bitcoin or at least not Bitcoin in its current state.
And it will also be regulated "unfairly."

Perhaps at some point way down the road Bitcoin will be transferable over to whatever the new system is that develops.
Which would make Bitcoin sort of equivalent to some antiquated monetary system like leather.
It'll still have some value but not really be sought out as much.
 
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