Bitcoin $10,000: What Does It Mean?

12/02/2017159 Comments

Bitcoin $10,000? Already? It seems like just a few months ago that I was writing about the price of one bitcoin surpassing the price of one ounce of gold.

Oh wait. I was. "Bitcoin Over Gold: What Does It Mean?" was written in March 2017. Fast forward 8 months and here we are with the price of one bitcoin topping $10,000. $10,138.06 as I type these very words, to be precise.

But what's in a number? By the time you read these words the price could very well have leapt to $15,000 and it could just as easily have plunged to $1,000. (If you're curious you can check the current price here.)

Don't believe me? Then you clearly haven't been watching the bitcoin price at any point over the past 5 years. Exhilarating spikes and dizzying plunges happen all the time. When it comes to crypto trading, volatility is the name of the game.

This, of course, is manna from heaven for the financial press, which can now generate a seemingly never-ending stream of "Oh My God! Bitcoin Is Exploding!" and "Oh My God! It's A Crypto Bloodbath!" stories, just swapping out one story for the other every day or two (sometimes multiple times a day). But all of these stories are a sham.

Find out the truth about "bitcoin $10,000" and what it really means in this week's edition of The Corbett Report Subscriber editorial.

For full access to the subscriber newsletter, and to support this website, please become a member.

For free access to this editorial, please CLICK HERE.

This content is restricted to site members. If you are an existing user, please log in. New users may register here.

Existing Users Log In
   

Filed in: Newsletter

Comments (159)

Trackback URL | Comments RSS Feed

  1. PeaceFroggs says:

    I’m gonna go out on a limb here and say Bitcoin at $10,000 is a Bubble that is about to burst.

    • casual observer says:

      I’ll go out on your limb .. on the proviso that you can define $10,000, it’s value, to who, when & why, .. it’s all relative no?,

  2. herrqlys says:

    A bird in the hand is worth two in the bush.

    Call me narrow-minded, or unsophisticated, or whatever you like, but my gut feeling is that anything electronic is vulnerable. Vulnerable to hidden manipulation, theft, the vagaries of the power grid, and the ultimate fragility of the underlying framework.

    If there’s an international conflict involving Electro-Magnetic Pulse strikes, then a lot of the electronic circuits in this world will be fried, and the widespread negotiation in transactions for any cryptocurrency will be destroyed. The Faraday-cagers may preserve some of their toys, but the infrastructure for the widespread interoperability of these devices will be neutered.

    Physical gold and silver are bulky by comparison, but I trust them, and so do a lot of other people. The financial value of any negotiable instrument depends upon trust. Gold and silver are my bird in the hand, provided I have physical possession. I rate cryptocurrencies higher than fiat currencies provided the current financial ecosystem is in place, but if that ecosystem is destroyed I want neither.

    Current interest rates don’t encourage savings. Banks don’t rely on consumer deposits as the basis of their lending, anyway, and new credit formation is electronic debt that usually goes directly into non-productive assets. The stock market bubble is beyond belief, robo-trades and all. Real estate prices are deformed as well. Cryptocurrencies are a manifestation of these realities, as people seek some other way to protect their wealth, but they’re built upon the same vulnerable electronic edifice they seek protection from.

    • Stronghorse says:

      Well herrqlys, I guess that puts both of us in the “Old Fogy” category. I too trust nothing that can be instantly swept away. I often question my reasoning on this, as I do rely pretty heavily on the internet for information and communications.
      Like you, and as James has suggested, I’ll just wait and see.

    • john.o says:

      “Gold and silver are my bird in the hand, provided I have physical possession.” – herrqlys

      I completely agree and own none at the moment.

      Where do you live?

      • herrqlys says:

        I’m in Canada. When the CAD-USD exchange rate is good for me I get a better deal when buying or selling silver. I’m not really a stacker, but a dabbler.

        My priorities must be changed so that I allocate an amount for monthly purchase – no selling unless there’s an emergency.

        • john.o says:

          I guess I am revealing just how evil the workings of my own imagination are. I thought my dark humour (5 years in Montreal allow me to spell like that as a courtesy) and my implied threat would be obvious.

          In all seriousness, I do agree with you and yet have not acted, accepting perhaps too easily a role as observer of human history.

          I am not a gun owner either, and at my age probably won’t start concealed-carry next week either, but you never know. I was born smack dab in the middle of the USA, where the 2nd Amendment was the 11th commandment.

          MY POINT IS that while physical assets (gold, silver, grain oil, wine, livestock-you name it) are all safer than bitcoin in my book, they are only as safe as you are physically.

          I personally tend to rely on other things entirely, but mine is perhaps a “don’t try this at home” lifestyle. Somebody needs to keep trading in these and other physical things, and somehow they must be protected.

          C’est tout.

          • herrqlys says:

            Yes, physical protection does present a thought-provoking subject. I only ever owned a shotgun for duck/geese hunting, but that’s a long way back. And I’m too old to ever be a Bruce Lee.

            We are nothing if we aren’t inventive, though. So carrying only what you can afford to lose (and that sounds like prudent gambling advice), while securely stashing the rest, might work . Unless you get tortured for that information.

            Dark thoughts. Makes you wonder why you should ever make heroic efforts to avoid a shorter life than might otherwise be the case. My children are all self-sustaining adults, the gene pool doesn’t need me any more.

    • While I do own bitcoin and other cryptocurrencies, the thought has always crossed my mind as to what the odds and ends are that the whole Bitcoin bonanza is some carefully orchestrated bankster driven or Rothschild-esque scheme, like pied pipers of consciousness, luring the curious wide-eyed wanderers into the flickering hope of light too-good-to-be-true, only to then destroy it, burning the wings of every metaphoric moth that managed to get too close to the light. And they will hail from the ashes with the perfect savior system with their new, much more “stable” cryptocurrency.

      We are told constantly that bitcoin keeps defying the naysayers, and every time someone like Jamie Dimon snarks at Bitcoin, people buy more. When Jamie Dimon calls it a fraud, the president of Cboe eggs him on to short bitcoin, now that Cboe will offer the first futures trading for bitcoin. In short, banksters are the ‘skeptics’ on one end of the dialectic. All other folks who despise the banksters do exactly the opposite of what the banksters expressly state. I feel as though we are being groomed for some sort of synthesis between these diametrically divergent dialectics.

      And of course, you have the BIS openly talking about Central Bank issued Cryptocurrencies (CBCC), and this was covered by James a few months back.

      https://www.bis.org/publ/qtrpdf/r_qt1709f.htm

      https://www.corbettreport.com/the-bitcoin-psyop-explained/

  3. mkey says:

    The thing with ZH is that they cover every possible outcome with dozens of articles, so whatever happens they called it. However, I don’t think that sets them apart much from most other economy and fraud related websites.

    The thing with bitcoin is that people assume it’+s very safe, because in the event the internet goes down we may assume a lot would go down with it, leading to an apocalyptic setting. In that world, precious metals wouldn’t be worth their weight in bullets, alcohol or corn.

    • herrqlys says:

      “precious metals wouldn’t be worth their weight in bullets, alcohol or corn”

      I agree with that sentiment in an apocalyptic setting, but as a bridge from here to there, give me physical silver (poor man’s gold that I can afford), as I’m sure the stern face on a Canadian $50 bill would be only good as fire starter.

      • mkey says:

        There is no reasoning for FIAT currency, they always go to zero. In a post apocalyptic setting, it could happen that some sort of “old” currency is used instead of bartering, though. Bottle caps could be used too, anything that is ostensibly scarce and difficult to forge or copy.

        The good thing about gold is that it has a rather high price per kilo. If push came to show, I could see myself tucking that 0.5 kilo bar in my pocket and heading for the hills. Don’t know what would I be doing with 20-30 kilos of silver, though.

        • herrqlys says:

          As I mentioned above, trust has a large part to play in what other people would accept in an exchange, as would relative values. Some of your junk retains value, as garage sale customers attest.

          A problem would arise in performing small transactions with a significant amount of gold, without revealing the whole bar and compromising your personal safety. You can get gold wafers that are already pre-creased to allow breaking off 1/4 wafer, or whatever.

          • mkey says:

            Low premium coins would work as well. I find the wafer thing really is fit only for a SHTF scenario in which lead would be the other precious metal.

            • herrqlys says:

              Nah, lead is too common. It’s also a neurotoxin. Do a search for metals distribution in the Earth’s crust. Then consider the physical and chemical properties of the rarest ones. Gold, then silver, are the most stable and look good, too.

  4. whaugen says:

    Money is a medium of exchange and typically something with a stable value to use in exchange. Bitcoin apparently does not have a stable value and so in a traditional monetary sense it would not be useful as money. Looks like cryptocurrency development is still evolving.

    • herrqlys says:

      In addition to a stable value, or something that can maintain its purchasing power over time, precious metals are also durable and reasonably immutable. I suppose it’s a matter of how long you expect to need to transact. Ammunition powder and some other things degrade over time.

    • mkey says:

      Note the distinction between money and currency. The two have some shared properties – fungibility, divisibility, durability, portability. There is also scarcity, which usually does not fly with FIAT and it used not to fly with gold coins either, since typically greedy governments will find ways to dilute the currency/money supply. The credit created-out-of-nothing method we’re witnessing this iteration is an especially creative approach.

      Bitcoin, unless there is something evil in the underbelly of the beast, does meet the scarcity condition and as such is better than any other FIAT trust based currency. To some extent, bitcoin is based on trust too, but the trust lies on the person/people/A.I. whom/which created it instead of a delusional figure of authority. The whole good Samaritan thing does not really make me trust the whole platform, but that’s just me talking.

      We could maybe use bitcoin/crypto currency interchangeably, but I’m not sure if every crypto is meant to be scarce in supply, i.e. fixed in availability to a certain amount as defined by the protocol. Probably an argument could be made that a certain amount of currency could be added to the pool with each new user thus mellowing competitiveness a bit, but that would be very tough to enforce and what’s wrong with competition anyway.

      Money, however, in addition to above mentioned properties, also has to be a store of value. Precious metals have been vetted by history in this regard, acting like a thread reaching ages back, connecting us to the formative era of markets and money, with much of the same material being still in use today.

      (I’m absolutely not a gold bug, but where credit is due it ought to be given)

      • HomeRemedySupply says:

        Good point about the “limited supply” and scarcity and availability.

  5. manbearpig says:

    My popcorn’s popping.

    I have a student who thinks a double system will emerge in companies: one part of the company that runs on classical monetary systems and another part of the company that functions using cryptocurrencies –

    another student says the dark net is the future – that it will absorb the tiny regular net –

    that in an effort to escape constant surveillance and to create independant internet systems, DNSs etc. everyone will gradually migrate to the dark net that will embody the new peer to peer paradigm.

    I still think Bitcoin will be crashed by deep state players who own a lot of it in order to prove the necessity for regulation but perhaps not yet. Perhaps a big enough percentage of the masses hasn’t yet dabbled in it for the crash to be imminent. Or it’ll be a GPU or scarcity problem?

    Because bitcoin is first and foremost a tool for transitioning the world to a new paradigm. There had to be powerfully seductive forces to freely and irresistably attract as many people as possible to it: such as liberation from the corrupt usurious Banking Trust or quite simply the promise of making easy money, or both,

    to make the paradigm shift towards a highly regulated electronic “energy unit” currency as seamless as possible…

    Having said that, I’m way over my head and have no idea what I’m talking about.

    • herrqlys says:

      You always present a wide bandwidth in your thinking, Kernel Plotkin. I like it.

      I find it hard to imagine that the control freaks that have run things so far haven’t got a plan to block the entrance ways to the dark web. Or maybe they want to let the most dangerous ones run through the doors, and then lock and bolt them, and immolate everybody and everything inside.

      The usurious Trust seems to be laughing all the way to the Bank no matter what we do.

    • john.o says:

      It seems to me the technological capacities change, sometimes exponentially, but essentially, so far, tend to break down into the old white-market/black-market patterns known pretty much everywhere to varying degrees.

      Maybe someday I will try to list all the technological wonders I have known in my lifetime that were used to trade on some black market or other.

      I was actually born in a “dry state.” So, #1, the blockchain system of my boyhood:

      There’s a big holler tree
      Down the road here from me
      Where you lay down a dollar or two
      Well you go round the bend
      When you come back again
      There’s a jug full of good ole mountain dew

      What I keep thinking about is those genetic manipulations and what I might find in my neighbor’s mountain dew.

    • archives2001 says:

      You may be way over your head but i suspect 99% of the crypto gurus are too MBP. You make a hellava lot of sense!!!!

  6. HomeRemedySupply says:

    James Corbett says:
    …It doesn’t matter. That’s right, it doesn’t matter… … What matters is that the world has transitioned from a pre-World Wide Web economy to a World Wide Web economy, and we are still dealing with the ramifications of that…
    …What matters is that the cryptocurrency idea will survive this period, whatever happens with the bitcoin bubble, just as the World Wide Web didn’t go away when the dot-com bubble burst. Now you might love that fact or you might hate that fact, but it’s a fact…

    …Can a cryptocurrency that lives up to the “pirate money” ideal be created, or is the idea destined to be neutered, co-opted and wrestled back into the service of the banksters?

    Now that is the question that matters….

    So true.

    • john.o says:

      I am way out of my league here, but it seems to me that ‘the “pirate money” ideal’ for most of us will depend on OTHERS creating such things as true peer-to-peer networks and open source local server technology available to multitudes, but not co-optible by elites.

      Who will we TRUST to tell us which such technologies are really safe?

      This is not a rhetorical question. I am truly interested in what others have to say, for at the moment it is hard to see me or billions of other humans becoming expert enough to KNOW FOR SURE that any of it is trustworthy or that any network of “experts” could ever be trusted to guarantee its future trustworthiness. As such it just becomes another race for elites of some kind to build a control network from my crabbed and aged perspective.

      I am quite willing to believe my own decade-challenged view of the world is part of the problem, so help me out.

  7. HomeRemedySupply says:

    James Corbett gave away FREE to CorbettReport Members “$109.00” of BitCoin.
    Back in late February 2017, James Corbett gave away free to any Corbetteer requesting it, 0.01 Bitcoin which is now (as I type) worth around $109.

    The give-away occurred during this episode Who Coined the Term “Useless Eaters”? – Questions For Corbett https://www.corbettreport.com/who-coined-the-term-useless-eaters-questions-for-corbett-034/
    If you read the comment section, a lot of folks participated in that opportunity.

    Here is the YouTube video queued to where James talks about Bitcoin. Around the 21 minute mark is the “give-away”.
    https://www.youtube.com/watch?v=6NuLWCHvkc8&feature=youtu.be&t=16m32s

  8. HomeRemedySupply says:

    I’ll be honest. I like to gamble on occasion, but I realize that I can lose money when I gamble. I don’t have a lot of money. Sometimes, though I will play with some.

    So recently, just about at WTI Crude’s peak, I bet that it would decline with an ETF “OILD”. Having sold that on a day it rapidly declined, I then later bought…

    CME (which Corbett mentions in his article above)
    https://finance.yahoo.com/quote/CME/?p=CME

    Bitcoin Investment Trust (GBTC)
    https://finance.yahoo.com/quote/GBTC?p=GBTC

    …and because silver has gone down to a very low level…
    https://tradingeconomics.com/commodity/silver
    I gambled strongly with a 3x ETF USLV that silver will probably eventually go up.
    https://finance.yahoo.com/quote/USLV?p=USLV

    Make no doubt about it. It is gambling. The markets are a rigged game. I know I might lose some money.
    Maybe I’m an idiot. It doesn’t matter.

  9. HomeRemedySupply says:

    The first part of this video, the speaker makes the point that much of the World has not yet participated in crypto-currencies like Bitcoin.
    The man who called bitcoin $10K now sees this for the cryptocurrency Bitcoin 6x by end of 2018!
    https://www.youtube.com/watch?v=Br6-W3Dlob0

    Original video here…
    https://finance.yahoo.com/video/man-called-bitcoin-10k-now-222700433.html

  10. okgardener says:

    For an incite-full presentation on Bitcoin listen to some of Andreas Antonopoulos’ talks.

    https://www.youtube.com/watch?v=MxIrc1rxhyI
    https://www.youtube.com/watch?v=wSRN8PUhHX0
    https://www.youtube.com/watch?v=l1si5ZWLgy0

  11. HomeRemedySupply says:

    On Corbett Report’s “Just For Fun”
    the humor is so good, it should be illegal.
    https://www.duffelblog.com/

    • Corbett says:

      Don’t worry. I’m sure they’re working on that. Satire is being called “fake news” these days, so it may be censored at any rate.

  12. manbearpig says:

    To what might an a-moral pathological would-be tyrant have absolutely no access to?

    Whatever that is, it could become the means of exchange.

    • manbearpig says:

      whoops. a “to” too many.
      must’ve been all those ballet classes…
      anyway…

  13. Pablo de Boer says:

    Hola aloha señor James & Co,

    I moved from Amsterdam to Paris last month and I paid my migration with BTC, so I’m a happy person, because the banksters didn’t benefit from my migration and the most important part of this migration is, that I live now very happy with my Caribbean Belleza Guapita in Paris 🙂 . And the last 4 weeks the price of 1 BTC increased + 54.8% (+US$ 4.027,90), thus I earned more money than I had to pay for my migration. BTC price now is US$ 11.375,00, ai ai ai caramba viva
    Ƀ / BTC.

    And for the first time I was lucky with the EU, because I didn’t need migration papers and a work permit to move from the Netherlands to Paris and work in Paris, but in a voluntarism society such ridiculous laws doesn’t exist and imaginary borders also not. For me it is also ridiculous that you need a work license if you want to work voluntarily where you want on our planet. My person also doesn’t need a daddy and mommy (a government) to take care for me and tell my person what I have to do or not, because I want to maintain myself and of course also mi belleza del Caribe. I don’t want to depend on others and BTC helps me a lot to realize my dreams.

    I Like most of señor James his contributions, but I’m not a Corbetteer, because I adore to be fully independent and being myself.

    Saludos para todos,

    Pablo / Pieter de Boer

    • Corbett says:

      Glad to see you back, Pablo. You are of course right about “Corbetteer.” It’s a funny-sounding catchphrase, but this work is not about me it’s about the info, so I will be retiring my use of it.

      • herrqlys says:

        “Corbetteer.”…I will be retiring my use of it.

        So what about my beany with the mouse ears? Do I retire it, too?

    • HomeRemedySupply says:

      Pablito dice: …I’m not a Corbetteer, because I adore to be fully independent and being myself.

      Corbettito dice: …You are of course right about “Corbetteer.” It’s a funny-sounding catchphrase, but this work is not about me it’s about the info, so I will be retiring my use of it.

      • manbearpig says:

        It’s a catchphrase that describes both Mr. Corbett’s treatment of the info as well as those who comment on and appreciate the work he does.

        Though I do understand the epidermic aversion to any sort of Guru-ism and even share it wholeheartedly, if I have ever felt like belonging to anything

        it’s to “Corbetteerism” and could only reluctantly rescind my status as a “Corbetteer”

        though it does not prevent me from disagreeing on certain points or questioning the presented material

        which only makes me that much more exemplary of the offending term.

        • john.o says:

          Indeed, I shall openly dissent and claim the moniker without James’ consent. In fact, perhaps I shall spell it wrong, just to make myself even more independent.

          Corbetteer, Corbiteer, Corbetteir, or not, yes, I value most everything and also question much here.

          One thing I question, though I am am certainly happy for his good fortune, is whether Pablo really “earned” anything by holding his bitcoin for increased value.

          A transaction by any other name is the same, but what I would say is that Pablo BET on a system every bit as controlled and contrived as the Federal Reserve and Wall Street and won. Let’s say he had 1000 dollars of BTC and it went to 10,000. When he goes and buys an extra 9,000 dollars of actual goods and services, somebody else has to do the work, not Pablo. And not the execs at Bitcoin.

          And I don’t care what anybody says, Bitcoin’s initial value was as empty a fiat as any other money fiat ever, ex potestate verbi.

          Like most gamblers, Bitcoiners think their winnings have something to do with their own skill and value, rather than the house strategy and luck. And like most investors, their winnings are paid with the sweat and lives of others.

          I am no socialist. Those here and others like you have long cured me of that silly pipe-dream. But I also believe many here are deluding themselves with half-baked, self-serving understandings of freedom, property, ownership and wealth.

          • mkey says:

            There is no such thing as FIAT money, only FIAT currency. But, to leave semantics aside, as far as I’m allowed to speak in Pablo’s name, I don’t think he considers those gains as “earned” but as a reward for putting his faith or trust into this technology.

            Considering these price surges are payed by people who like to join the party late (i.e. schmucks) I personally have no moral qualms over it. Financial speculation at its best, nothing more, nothing less.

            As far as betting goes, we should agree that betting is at the centre of our lives. We bet all the time, be it the school we’ll be attending, the woman we’ll be dating, jobs we’ll be doing, that used car we’ll be buying… it rarely boils down to one choice so we have to assess and, for all intents and purposes, make a bet on the path which seems most rewarding. It’s always a gamble and most of the times it feels as if the dices are loaded.

            • manbearpig says:

              ummm… I’m pretty sure I must have misunderstood…

              In your sentence:

              “…Considering these price surges are payed by people who like to join the party late (i.e. schmucks) I personally have no moral qualms over it. Financial speculation at its best, nothing more, nothing less…”

              Did you mean schmuck as in the Merriam Webster definition of schmuck as copy/paste below? :

              Definition of schmuck
              slang
              : jerk

              Did I miss the irony?

              Betting is at the center of our lives: so you have winners and … schmucks?

              So if Bitcoin were to become a fabulous peer-to-peer CURRENCY for a growing number of enlightened human beings

              it would be thanks to a bunch of …schmucks?

              Is that what you meant?

              Just curious.

              • mkey says:

                Max Keiser used that term quite profusely in his podcast to describe not jerks but losers, I guess. He’s also the one who has been pushing a heluva lot for bitcoin over the years, he “announced” it was going to hit 10k about 3-4 years ago.

                I don’t see it like that, losers and winners. Just lucky and not so lucky. And those who get some insider information and those who trust their brokers. Losers wouldn’t be those who bet, but those who try to bet their way out of a hole.

                What I meant with my statement is that there’s a certain class of people who enter markets once markets hit a certain state of maturity. These people probably have enough funds to purchase high and are basically playing a game of diminishing returns. Of course, there is no saying where will bitcoin cap, it may just as well go to 100k this time next year so to that extent it is difficult to appraise what does “late entry” or “buy high” really mean nor how is it to be timed. What I’m willing to guesstimate is that many of these investors purchase at 9k and then rush to sell if the commodity hits 5 or 6k just a few weeks later only to bounce up again. The same game, according to Keiser, has been going on for a long long time in the traditional financial markets.

                What I find most interesting is that without the people buying into the fad the price volatility would be much less. Now, one may state that I’m full of shit because you have a bunch of people here trying to get out of global banking grid and switch over to an alternative system. Well, I remember as a kid what it meant to have a currency with extremely volatile exchange rate. Albeit, that currency at the time was just going down and adding zeros, but people had to resort to all sort of shenanigans to preserve some of their purchasing power.

                I wouldn’t label these “late” investors as enlightened, but that’s just how I see it.

              • HomeRemedySupply says:

                What you guys say about Bitcoin and gambling is true to a certain degree.

                When a person walks into a casino, they are aware that there are winners and losers. Las Vegas was built on losers.
                When a person plays the commodities or stock-exchange game, people are aware that there are winners and losers. And they should be aware that it is a rigged game.

                Any retailer buys low and sells high. The wholesalers and jobbers do the same. Typically, the retail mark-up is keystone (50%), sometimes 30-40%. Sometimes a retailer buys a bunch of inventory which doesn’t sell…he takes a hit and tries to liquidate it. Sometimes, a retailer buys a “hot selling item” driven by a fad or demand.

                Supply lines/demand and competition play a big role in how retailers price their product.
                The same is true for Bitcoin. There is a limited amount.
                Like a retailer, an individual could buy Bitcoin in the hopes of reselling it in the future at a higher price because that person predicts a higher demand.

                People do not enter a business enterprise to sell things below the cost. Every individual in the world is involved in some sort of commerce activity. Employees sell their time/service for something. The employer hopes to “resell” the value of that service at a higher mark-up.

                The whole shebang of life has risks.

              • manbearpig says:

                Oh! Ok.

                Think I was pretty tired and irritable last night, mkey.

                Then, for some reason, amidst much tossing and turning I had a dream I was living and working in a glass house and found that supremely annoying…

                Incidentally, my aunt, who was an air force nurse who’d served in Korea, lived out the last 35 eyars of her life in Las Vegas with a handful of consecutive poodles. She was really good at smoking, hold’em poker and playing the stock exchange.

                In fact, the latter made her a millionnaire that she essentially couldn’t be bothered to spend. So she gave it all to her brothers, and nieces and nephews when she died. (The ones living in the states.)

                I guess she wasn’t a schmuck.

                Ya think TPTSB just see us all as a bunch of schmucks?

                Anyhow, thanks for your reply. Have a pleasant Monday.

              • mkey says:

                I sure hope I haven’t insulted anyone by using that word, it wasn’t my intention. I don’t see people who bet in general as anything but people. When this habit turns into a problem, I don’t see that any different than an alcoholic mooching his moonshine or a tweaker with bloodshot eyes snorting or in any other way ingesting whatever he can get hold of; this modern way of life creates a lot of problems and the society at large is unable to handle these issues efficiently.

                Your aunt was definitively not a schmuck. I do think the higher ups in the pyramidal structure of power don’t consider those below them with too much respect; the only proper feeling the ruler ought to have before his subjugates is fear.

            • john.o says:

              mkey, i will openly demonstrate my shameless ignorance of the subject, by citing wikipedia:

              https://en.wikipedia.org/wiki/Fiat_money

              In all honesty and ignorance, it seems a distinction without much difference, but I am open to correction. Is money just what comes from governments?

              What I found most interesting is that I myself do not read a word about morality in my post. It is purely descriptive. What people do with it morally is up to them.

              But when others claim a superior moral stance themselves for any economic position or system, it might be worth reviewing the description.

              • mkey says:

                It is one of those terms that has been coopted. I wrote a bit more on that above, here https://www.corbettreport.com/bitcoin-10000-what-does-it-mean/comment-page-1/#comment-46136

              • john.o says:

                Ah, yeas, I read that post with interest, but not so much that part. This caught my attention:

                “Bitcoin, unless there is something evil in the underbelly of the beast…”

                [i would add, or unless there is something evil that could later appear, both BIG IFs]

                “does meet the scarcity condition… To some extent, bitcoin is based on trust too, but the trust lies on the person/people/A.I. whom/which created it instead of a delusional figure of authority.”

                That list seems like a huge very deep black box and I would add to it: access to technology and some safely encrypted digital network that can do the trading and that does not either punish or tax the holder, intuit identity or steal.

                I am hardly a gold bug, but I do get your money distinction now. I will tell you this too: I once worked on a legal case for a gold mine and got to hold a gold bar in my hand. It was worth just under 200 grand at the time and would be worth about half a million now, I think. I have to admit, I was in love. And it wasn’t with how rich I would be if it were mine. I could just tell that the substance itself was amazing. It felt amazing, it looked amazing. It was obviously soft enough to work with tools. There was no doubt, even if I were all by myself on a desert Island, I would take it home and hold it and look at it and know it was valuable.

              • mkey says:

                The allure of gold must be genetic. I’m sure there is something on the chemical level attracting us to it, like a fly would be attracted to poo. That sure puts all the treason, murder, theft etc. committed over gold in a different perspective, doens’t it.

                Anyway, I agree with this general feeling I get from your post, that one can’t trust the unknown, unless blindly. I personally see these bitcoin facts as a huge glaring problem which people appear to be overlook en masse, but maybe people are simply struck by bitcoin fever. It could be argued that bitocin is a work of a good Samaritan, however without knowing their identity we can’t examine their motivation.

            • john.o says:

              mkey, I have another comment under moderation I think because it contains a wikipedia link, which is pretty suspicious, I admit!

              I will let that wait and just say my post was descriptive, not moralistic as far as I am concerned. But I am not one of those championing Bitcoin (or even blockchain, quite yet, though it sounds promising) as a force of freedom. I am not championing any economic system or theory at all. I do like to keep meanings straight though.

              Data may be the new oil and the new currency, but it’s not magic. I know that even if I were all alone on a desert island, crude oil would burn, strings of ones and zeros (and gold for that matter) would not.

              When it comes to betting, it is interesting to note that the concept of probability is really not very old (just a few hundred years) and that what seems like the structure of reality to us, is in fact just one way to think. Having said that, my modern mind works a lot like yours in many spheres, not so much in others. Seeing a broken marriage or relationship as a lost bet seems highly questionable in particular to me.

              I do not judge gambling, but I don’t call winnings earnings and do not feel it healthy for society to do so either.

              I do not judge owning property, but self-righteous claims to the “right” to keep property purchased with stolen goods from armed brigands, (sold, even in the USA, as “real estate” –that is, ultimately, Royal Property) seem funny to me. Living in California, I hear constantly from people who say they worked hard all their lives for their wealth. In point of fact almost every bit of wealth they have is because they bought land when there were 8 million people in the state and there are now 45 Million or so.

              I am not saying it was “not fair.” But I am saying it was not work. And only fools confuse their “wealth” of that kind with how things actually get done in this world.

              I do not judge investing and know some amazing people who invest in what is really important to them and they do good things, and prosper, but if one is investing in the rise of the value of a set currency, that is investing in scarcity at best, hype at worst, but not growth, as near as I can tell.

              • mkey says:

                I see your points. There is a substantial gap between winning and earning, which helps explain the rather high percentage of lottery winners who managed to get bankrupt really quickly.

                I wouldn’t consider a broken marriage as a bet lost, either. There are many fundamental reasons as to why marriages fail, lack of understanding and unwillingness to adapt probably being prime reasons. All I wanted to say there is that there are many situations in life where we can’t choose the more appropriate path by taking facts and parameters into account. So we have to place a bet on some aspects, hoping that they lead us to success, while there is no implication that there even is a winning or a losing bet. Life seldom offers a 50/50 split and choosing the right woman definitively does not fall into that category; it’s more akin to some of the stunts pulled by Indiana Jones while he’s on his way through any given mountain of doom, his path beset on all sides by rusty traps and venomous snakes.

                Finally, I’ll agree with you that investment or capitalizing on an investment does not equate prosperity. Only good old fashioned work may lead to prosperity, however even that doesn’t hold water in these modern times anymore.

              • john.o says:

                Indiana Jones, exactly! The Hero faces risks and choices everywhere but is not – cannot be – assessing probabilities, because of the improbable nature of the journey itself. He does not gamble, for by the odds he loses. He chooses and wins anyway!

                On a good day. Other days, I feel more like the guy in Johnny Cash’s 25 Minutes to Go:

                Well I’m waitin on the pardon that’ll set me free
                with 9 more minutes to go
                But this ain’t the movies, so forget about me
                8 more minutes to go…

          • HomeRemedySupply says:

            john.o,
            I too like the moniker.
            It is a descriptive which holds certain ideas of freedom and individuality.

            I definitely understand why James Corbett doesn’t really want the term. He is not in this for glory, but for a better world.

    • HomeRemedySupply says:

      Pablo, I figured you were pretty busy with things going on in your life. That is wonderful news about the Bitcoin windfall. This is a fine example of how increased awareness helps one prosper.
      Give your Cubana Guapita another squeeze…it’s “good luck”.

    • herrqlys says:

      Pablo, thank you for the awareness of the symbol Ƀ representing Bitcoin. I hadn’t realized that this was in usage like € and £.

  14. mateus says:

    I know that the cabal will destroy the value of bitcoin at somepoint in order to introduce their own “state controlled and trustworthy” cryptocurrency. They will use huge amounts of Bitcoin ‘they just have to buy it with fiat money they created out of nothing’ to dump the price and tell us that Bitcoin problem was the lack of regulations. But it doesn’t mean we can’t make some fiat currency out of Bitcoin’s value variations and trade for real stuff while fiat currencies doesn’t turn to toilet paper. Ñ

    • herrqlys says:

      I, too, sense there’s a lot of thought going into bankster meetings for co-opting the blockchain cryptocurrencies, mateus. You’ve presented a sound strategy for turning the possibility into more solid values as a hedge against that day.

      Whenever Wall Street’s hedge funds agree on something, and roll out their cryptocurrency exchanges and who knows what other products including pre-gamed regulatory backing, you know it’ll be good for them and bad for the average investor. This will be an economic ecology war.

    • john.o says:

      “…make some fiat currency out of Bitcoin’s value variations and trade for real stuff …”

      indeed that seems to be what is going on, mateus…and your prognosis makes sense to me

  15. HomeRemedySupply says:

    Dec 5th, 2017 – Bloomberg
    Making the Case for Bitcoin $400,000 (90 second video)
    https://www.bloomberg.com/news/videos/2017-12-05/making-the-case-for-bitcoin-400-000-video

  16. herrqlys says:

    The introduction of cryptocurrency exchanges, and their government regulatory “oversight”, is suspcious to me. The probability of naked shorts disrupting the public perception of cryptocurrencies is high.

    These naked shorts are essentially large-money attempts at price control. This happens on the precious metals exchanges, and the regulatory authorities look the other way.

    One of the fundamental principles of blockchain technology is that the transactions are transparent and immutably recorded, so it will be possible to note commonalities in certain types of transactions. This is drastically different from exchange transactions being hidden in an exchange’s back office, transactions that can be withheld from public scrutiny if so desired (my dog ate the transaction log).

    If the regulatory agencies, and in their turn being regulated by governments, don’t do their job then the promise in cryptocurrencies can be distorted. Proper market values must be protected,

  17. john.o says:

    herrqlys,

    “One of the fundamental principles of blockchain technology is that the transactions are transparent and immutably recorded, so it will be possible to note commonalities in certain types of transactions.”

    Principles are nice, but unfortunately, it seems I can’t even depend on my own to keep me out of trouble a lot of the time.

    Truly curious, I honestly just don’t know, in your opinion or to your knowledge, how MUTABLE and how AUDITABLE by the public is this transparency? This seems to me to be a reasonable question to ask.

    Are they immutably recorded like cop videos gone viral from random genuine passers-by? or like voting machine results in Ohio? or like the Georgia Guide Stones?

    • herrqlys says:

      Once a block chain transaction is recorded, after 10 minutes – the time it takes to encode a completed block throughout the entire system – it can never be changed. This is because the massive amount of computer hashing that would be required to get an altered block (and a recreated chain that takes that altered block forward) back into mainstream makes it impossible. The true block chain is progressing as the fake block chain tries to catch up, and never would. A mathematical certainty.

      • herrqlys says:

        To properly understand the physical impossibility, you have to appreciate the truly massive computer power available through the worldwide distributed mining operations. The raw processing power is greater than innumerable super computers. So attempting to alter completed blocks and then try to get them to overtake the leading edge of the continuing real block chain progression is futile.

        There are also phenominal amounts of electrical energy consumed in the process. Part of China’s attempt to control cryptocurrency mining in that country relates to the electricity consumption involved.

  18. herrqlys says:

    Under the title Crypto Casino, the [s] impartial Reuters agency [/s] did make an interesting comment in that September 29,2017 article:

    “Boycotts by banks can make it impossible at times for exchanges to process wire transfers that allow customers to buy or sell cryptocurrencies with traditional currencies, such as dollars or euros. In March, Wells Fargo stopped processing wire transfers for an exchange called Bitfinex, leaving customers unable to transfer U.S. dollars out of their accounts, except through special arrangement with the exchange’s lawyer. Wells Fargo declined to comment.”

    https://www.reuters.com/investigates/special-report/bitcoin-exchanges-risks/

  19. john.o says:

    Ok, yes I have heard that.

    So, editing a transaction post-factum is out, similar in principle to the viral video, or a newspaper. The energy required to go out and get them all and replace them approaches the impossible fast.

    (Sounds like getting luddites like me to hate energy consuming cryptophiles is the biggest thing going now! You guys are the new gas guzzling off road vehicle nuts!)

    If you feel like telling me to just go search and read, you idiot, do so but…

    What insures that the transaction in fact was the/a transaction?

    What prevents an inflationary decision (in a BIG SCARY crisis no doubt) to split, or issue more crypto by Bitcoin or future “regulators”?

    Or in fact is the market of competing blockchain currencies just a constant, potentially inflationary, force like, say, gold rush mining?

    • herrqlys says:

      In fact the gold mining analogy – building value into a scarce resource that can’t be counterfeited (i.e. by alchemy) – is part of the thinking that went into the origination of the bitcoin idea. The mathematical upper bound imposed in Bitcoin, for example, limits the actual quantity of Bitcoins to 21 million, ever.

      The mathematical brilliance behind the blockchain concept is the tool for creating the scarce digital resource (Bitcoin was the first) that can be imbued with value. Yes, Bitcoin was the first blockchain but since its creation there have been competing cryptocurrencies using their own philosophy/flavour of Bitcoin, but they still rely on blockchain technology.

      Blockchain is a revolutionary concept. It’s a game changer. It layers over the wide expanse of the world wide web so it confers transactional accessability to anybody with internet access. And it’s decentralized and widely dispersed thereby removing a central authority and intermediaries, and ignores political boundaries.

      But cryptocurrencies are only one possible use of the blockchain technology, of which Bitcoin was the first. There is huge excitement about what other uses and their possibilities that blockchain can provide.

    • herrqlys says:

      It’s hard to compress all the feautres of blockchain, and cryptocurrencies by association, into posts like these but I should also mention trust. Trust is a human concept that gives anything, or any currency, value. The principles of blockchain are meant to provide that trust.

      If it’s important to understand more than the limited details I have tried to provide here, then you must “go search and read” and view several videos. The Bitcoin(dot)com site is a good start. For me I found Andreas Antonopoulos on GooTube the most articulate and eloquent presenter. He also has an impressive range of understanding about many things. Rick Falkvinge, CEO of BitCoin Cash, is another.

      • john.o says:

        Trust is the most important currency, and I confess I am a very poor man.

        I have listened to the Antonopolous vids, or a couple. I know little about technology, but a LOT about MARKETING, and tech marketing in particular (not just for “a market” but for investors and early adopter suckers and late comer “schmucks”) and about the personalities of the tech CEOs.

        Maybe when I have time I will try to catalogue when my warning bells went off and why I was reaching for my “SNAKE OIL” rubberstamp, but I write similar stuff for a living and I heard conceptual bait and switch several times. Body language didn’t help.

        • herrqlys says:

          I’ll inject my own experience of trust into the intrepretations, because you perhaps fail to distinguish between the two personalities I use as examples. At the age of 2½ I had an inner ear infection that burst my left eardrum. I have been hearing impaired (and untreated) since then, so I have always relied on facial expression, lip movements, and other body language to augment my auditory impressions. Over time you learn to decode what comes across as sincere versus what is deceptive, and you get to test the truth later as a supplementary to those impressions.

          Antonopoulos is a cryptocurrency promoter and teacher, and although he does have a strong personal preference for Bitcoin at this time, he frequently admits that the market will choose whatever best serves in the future. Falkvinge is a CEO of a specific cryptocurrency and your comments would apply more to him.

          Antonopoulos is asked to talk to a variety of audiences and customizes his talk to the audience and in many of these he is a showman befitting the context. I have watched several, and find them balanced when you’ve heard the whole story.

          His comments to a Canadian senate committee hearing on cryptocurrencies is particularly instructive. After getting through a formal reading of his submitted report, to provide detail for the viewing audience because the senators had already read their pre-circulated copy, he then answers senators’ questions and his replies are anything but snake oil.

          Also listen to him on his own website, antonopoulos(dot)com, in his video Money as a System-of-Control for a generic but passionate talk that only gets to cryptocurrency at the end.

          As is no doubt patently obvious by my comments to this point, I find him appropriately experienced, personally credibile, and enormously knowledgeable. So yes, he has my personal admiration.

        • john.o says:

          Hmm. Yes, I must have got a misrepresentative sample, almost certainly from when he was pitching on the Bitcoin dime, because he specifically dissed blockchain w/o bitcoin (one of my bait and switch warning signs). I will look at the website and testimony. That is the kind of thing I am looking for.

          It seems that “blockchain” is really the trend. Is there any “open source” blockchain movement? Any attempt to put the technology in the hands of less mathematically sophisticated designers and thinkers in a way that is still trustworthy?

          • herrqlys says:

            The trust factor is built upon the integrity of the mathematics and the technology being bullet-proof. It requires mathematically sophisticated designers like the ones who kept it safe from the 24-7 attacks, 365 days a year, for the last 9 years. That defence has been successful. I recall a comment that went something like: after being continuoulsy in the war zone, what doesn’t kill you makes you stronger.

            I can’t recall seeing anthing that would make you suggest Antonopoulos was dissing blockchain. He has disparaged the user interface of Bitcoin ATMs, and says that’s what you get when you let geeky engineering types try to create user friendly things 🙂

            Another critique isn’t about Bitcoin per se, but about the thefts made possible by Bitcoin users relinquishing conrol responsibility in handing over their keys to custodial firms, who can then be hacked because several users’ keys in one place create a honey pot. With user custody, hackers would have to crack the security defences for each user, one by one.

            • john.o says:

              “It requires mathematically sophisticated designers like the ones who kept it safe from the 24-7 attacks, 365 days a year, for the last 9 years.”

              hmmm…i work in the world of digital security…does anybody really know what is going on REALLY?

              And: Quis custodiet ipsos custodes? None of those guys are for sale?

              I think mateus is probably calling it right.

  20. Pablo de Boer says:

    Hola aloha señor James y todos,

    Señor James your wisdom is very addictive for me, that’s why I always read and / or watch your contributions with a lot of pleasure as I also wrote about your presentation on WW I @ the Open Mind Conference:

    “Your presentation yesterday on WW I @ the Open Mind Conference was for my person very mind expanding and with some typical señor James eye openers. It is always a pleasure for me when you voluntarily give us an insight of your knowledge and wisdom. When you señor James share the results of the interactions of your brain-cells with other senses of yours on what is happening in our world, this always leads for me to an euphoria in my brains and stimulates my common senses. When your person shares your thoughts with us, for my person it feels like having a seventh sense. Also how your answered the questions of the audience were brilliant with a typical señor James touch.. Yesterday my own brain cells were dancing Salsa and Bachata at once due to your excellent independent work señor James.”

    But I will never be a Corbetteer, otherwise I totally misinterpret your wise messages (behave independent) and I also will never say I’m a follower of Corbettism or misspell on purpose Corbetteer, because that sounds very statism…

    I also appreciate your wisdom on BTC / Ƀ and as usual you are fully right about what you have to say and share on Ƀ / Bitcoin. And the past 7 days the price of Bitcoin increased +60.02% (+US$ 5.990,22) and the price now of 1 bitcoin is US$ 15.970,00. Thus I ERANED again much money last week with my investment (former fiat currency). But there are people who say that this kind of EARNINGS are not real earnings… It’s for me muchisimo hilarious these kind of remarks and of course people who say this are not Crypto Savages like your person & Vin Armani. Vin and you are adventurous persons, like the first sailors long time ago, who crossed the oceans, while most people then thought that the earth was flat. The crypto pessimists I consider as Crypto Flat Earthies 🙂 🙂 . I also read that some people call us Bitcoiners, ai ai ai caramba que pasa conjo, but I self will never identify myself with any kind of currency, because I want to stay independent and what other persons think about me is their own business and not mine. I also use my street name Pablo and real name Pieter de Boer when I comment and not with a nickname, because I want to be fully myself, but I will not behave as narcissist like all politicians and rulers do.

    • Pablo de Boer says:

      And señor James the first time your person’s wisdom (digitally) crossed my path here on pacha mama, was when I discovered Global Research on the WWW some years ago around 2013. And after reading more of your articles I got addicted on your wisdom. This article of yours is a good example of your talent and wisdom estimado señor James, porque tu eres un sabio

      What The World Bank Actually Does
      https://www.globalresearch.ca/what-the-world-bank-actually-does/5396476

      Last year I decided to become a member of your own page and I don’t need a discount for your work, because I’m happy to pay the full price for your excellent work and a discount is for my person as “Black Friday” behaviorism….

      • Pablo de Boer says:

        And last but not least., in the past in my scholar years it was mandatory to learn French at the brainwashing factories (Schools) of the government and I hated French at school. But now I voluntarily decided to learn French and with the help of the WWW I can self-study French a lot and mi belleza guapita Cubana speaks also good French, thus she is the only and first teacher who I will voluntarily obey. In latin America they say, el amor makes you blind.

        And for all students and teachers I have this musical message

        Pink Floyd – Another Brick In The Wall (HQ)
        https://youtu.be/YR5ApYxkU-U

        Saludos y abrazos para todos (tambien para los Crypto Flat Earthies),

        Pablo / Pieter de Boer

        • john.o says:

          the note on my statist speling is noted, as is either your irony, or lack of it, Pablo!

          I am glad you are independent enough to voluntarily obey, but my own pedantic researches convince me that however your Belleza, or anyone else, spells, in any language, is and has always been a function of state power. and when you obey her, you obey it accordingly, as alas, do we all.

          Check into it when you have time. But keep living the dream!

  21. AndyB says:

    The point is that the money men in all likelihood are already in the game manipulating price changes and making money on those changes. The greedier they get the more ordinary people will lose until they eventually give up on it. I realise a lot of anarchists are pinning their hopes on crypto currencies but once they reach this kind of scale the bad guys will move in and kill it. Keep it small and local then we’re talking.

    • manbearpig says:

      Yes!

    • mkey says:

      Yes.

      … was my first response to this comment, but I see it’s already been taken.

      Global is another propery of bitcoin and if it turns out to be a bubble it’s going to involve a bunch of everyday people in a very direct way so a crash may bring the global middle class down a peg or two.

      Taking an advice from probably every financial advisor on the planet, diversify and don’t put too much eggs in one basket. Godspeed.

  22. casual observer says:

    if an insane man accuses another insane man of being insane, then sanity will prevail & there will be a trial of sane jurors & a sane judge which will arrive at a sane verdict, … provided a sane man’s definition of sanity is sane, .. is crypto bought with, valued in & profits & losses measured by fiat sane,? .. you’d have to ask a sane person.

    • john.o says:

      BRILLIANT!

      • casual observer says:

        cheers Jhon.o,
        interchange the words “crypto” & “fiat” & see if it changes anything? .. hung jury?

        • john.o says:

          Not so much a hung jury but a chicken egg problem with some robot chickens and digital eggs thrown in for another layer of complexity.

          Everybody thinks they’ve got this value thing figured out. I don’t count my chickens before they hatch, but I lose count after three so I am not much of a counter, I admit.

          If I were, I would have bought Bitcoin but when I tried to set up my wallet using chickens and eggs and oil and wine as payment, they wouldn’t let me. Seems you need fiat to get into the game somewhere. I just cooked a chicken in oil and had a glass of wine with dinner.

          Long term, the investment does not look good. But which does?

    • herrqlys says:

      “…crypto bought with, valued in & profits & losses measured by fiat…”

      Cryptocurrencies, and especially Bitcoin, are based upon becoming money, with all the attributes of money, and not those of a fiat currency. “Honest” cryptocurrencies are intended to be backed by public trust, by virtue of their limited issuance, the way gold standard currencies were backed by that precious metal.

      The transition to money status will take time, and the path to that is by getting into the mainstream of financial transactions. The volatility in the rise of Bitcoin, for example, has led to short-term considerations of cryptocurrencies as investments, requiring a capital gain and therefore a rate of return.

      Real money doesn’t require a rate of return. It need only be a store of value and a retention of purchasing power over time. Fiat currencies do not have these characteristics. For example, the US dollar has lost 97% of its domestic purchasing power since 1913. When interest rates were set by the market (let’s not digress into manipulation for my point), holders of fiat currency could earn interest income, even when backed by nothing.

      • herrqlys says:

        “when backed by nothing” is incorrect for a US dollar. USD fiat gets support from agreements to price the global sale of oil and gas in US dollars, which provides support on world curency exchanges.

        There is support for the USD in that when acting as the world reserve currency, it becomes the fiat instrument for the global sale of legal and illegal drugs.

        There is also the support provided by the might and reach of the US military, and the de facto control or purchased influence in institutions that can provide support in many non-direct ways.

        • herrqlys says:

          None of this is new. A reading of the history of the British Empire and the strength of pound sterling in world trade during the period 1815-1914 was a template for the American Empire.

          • john.o says:

            Interestingly, though the “Kennedy was about to axe the Fed ” story is BS, the attempt by the Hunt brothers to corner the Silver market is possibly in the mix. Almost certainly they were in on the assassination plan at the same time.

            I need to go back and look at that as I learn more about money, currency and their place in the power game.

            • herrqlys says:

              I would also read about the Hunt brothers in more detail. Things are not quite as they were portrayed in the media (what a shocker).

            • herrqlys says:

              Here’s a leg up on researching the Hunt brothers. Seems like their sense of personal independence had made a lot of enemies, especially those against Nelson Bunker Hunt.

              “During the 1970s, Hunt’s savvy investments in oil, sugar, commodities, real estate — and especially silver — made him one of the wealthiest individuals on the planet.

              Because of his independence and his outspoken opposition to the Federal Reserve System and the ruinous policies of the federal government that were destroying the value of the dollar, he became a marked man.

              Political and financial insiders repeatedly changed the rules of the game on commodities trading and put the squeeze on him (along with his brother and investment partner Herbert Hunt) and then perpetuated the lie that the Hunt brothers had been ‘squeezing’ the silver market.”

              https://www.thenewamerican.com/culture/biography/item/19360-nelson-bunker-hunt-r-i-p-the-myth-of-the-hunt-brothers-scheme-to-corner-the-silver-market

              Going by who his enemies were, I kinda like the guy, whatever he had or had not done.

              I don’t see any motive or timeline for implicating the Hunt brothers in the JFK assassination.

            • herrqlys says:

              It’s not always cool to use the same media source for complementary details (unless it’s The Corbett Report), but this article was published 29 years before the one above, and has far more detail of market-related shenanigans against Bunker Hunt:

              https://www.thenewamerican.com/economy/sectors/item/15026-hunt-brothers-and-the-great-silver-witch-hunt

      • john.o says:

        So there is no real money in general circulation currently, I take it? With a “natural” store of value. That makes sense if I have it right.

        “The transition to money status will take time, and the path to that is by getting into the mainstream of financial transactions.”

        But to others’ points: doesn’t that put digital currencies automatically at the mercy of manipulations by big fiat players?

        Right now it holds value as a way to transfer and hold value out of the fiat matrix, but in the long run, is it outside that matrix?

        I seems to me we need a “physical blockchain” something I could hold physically, locally, not dependent on centralized players, transferred through a peer to peer network of some kind.

        • herrqlys says:

          “in the long run, is it outside that matrix?”
          Theoretically it would be, by virtue of the decentralization of authority into a flat topography, and no intermediaries between buyer and seller, or any other financial exchange. With a finite mining/circulation formula, there would be no quantitative easing and the asset bubbles that creates.

          The former world gold standard underpinned real money in general circulation. Gold and silver are precious metals that exhibit scarcity and that’s why they retained their value and purchasing power. Those values combined with their physical properties inspired trust.

        • herrqlys says:

          we need a “physical blockchain” something I could hold physically, locally

          Something that could be stolen if not physically secured. That’s why we ended up with banks in the first place.

          The objective of cryptocurrencies is to be money that trades on a global platform for the broadest possible access to as many of the peoples of the world as possible. Those that are underbanked or totally unbanked in the matrix. At present the internet can offer them global access for cryptocurrency transactions even if all they have is a cheap SMS text messaging phone.

          What if we lose the internet? We lose life 🙂

          • john.o says:

            Right, the physical security of property on my person, which is not very secure, versus trusting that the Internet means global connection, local freedom and life, rather than local disconnection, global control and death.

            Looking at most historical developments and the general patterns of things, I would say, like horses, ships, railways, roads, automobiles, radio, TV, and many other phenomena, it means both.

            In the long run. Which is no argument against short term gains by anyone, only against asserting that ones temporary good is good for all in perpetuity, which is what I hear sometimes (though not from you exactly).

            This could be a way out. Or the time honored call of the temple, the bank and the welfare state: “Don’t risk the dangers out there. Keep things safe here with us.”

            • herrqlys says:

              “Keep things safe here with us.”

              Until such time as all the marrow has been sucked out from your bones.

              Maybe people need [the freedom] to choose their own poison and possible death. Death is inevitable in any case.

    • mkey says:

      That’s very interesting and not surprising. These past few days I was thinking about how various financial tools are really not available to the masses (like stock trading) without various gateways, while bitcoin is available to anyone and their grandmother.

      I’m not sure what are the exact requirements needed to access any of the exhanges, though. Also, isn’t it interesting how much power, with surging prices, is wielded by exchanges?

  23. john.o says:

    “Death is inevitable in any case.” – herrqlys

    Questions for Corbett: First, is this true? Second, do you see anything changing on the horizon?

    • mkey says:

      Your questions are best asked in the Q4C response articles.

      I personally have some doubts, provided you have enough power with zealots, death is the final frontier so I kept my hat on when David R. died recently.

    • herrqlys says:

      I sense that the final bit in my comment could be taken out of context. I’m not advocating suicide, literally.

      I’m suggesting that taking the road less travelled in financial affairs – cryptocurrencies – may be a way to enter a different paradigm, one that’s outside the matrix although not foolproof at present and has certain dangers (your own poison).

      Staying in the matrix seems to have a bleak future.

    • HomeRemedySupply says:

      One big advantage with cryptocurrencies is that they are “peer to peer” with no guberment regulation interjected into its exchange value.

      OVERSTOCK.COM
      One should look at their website (the about page), then the “Bitcoin page”. They take Bitcoin.
      Also, read about their ethics.

      My wife (ex-wife) will occasionally buy things from Overstock. She didn’t really know anything about cryptocurrencies like Bitcoin until last night when I told her over the phone and brought up Overstock.

      Overstock had humble beginnings. Their first year (1999) ended with 1.8 million in sales.
      When I had my book business, my 4th year (1999) I ended with about 3.5 million in sales. So, I have a comparative.
      Overstock’s acceleration in sales was exponential following 1999.

      • mkey says:

        “no guberment regulation interjected into its exchange value.”

        But, my dear texan friend, is that really so? The “price” can be influenced from the ouside world and as long as fiat or, in other words, pretty printed paper is the blood of the system, government and its cronies, i.e. fascists, have yet to, like the fat lady, sing till the end can be had in sight.

        Not only that, but we, the global peasantry, need to trust, i.e. believe blindily, the hidden inner workings and background proceedings of now a trillion dollar system, with the usual, as far as monetary sector goes, banking entourage “institutions.”

        Finally, it is expected of us to forget that the “elite” stands to gain a lot from this paradigm shift. As long as they can have it their way, that is. But does one have to reiterate that we didn’t have any other way but theirs for a long, looong time now?

        • john.o says:

          I defer to you both in your greater technical grasp of the subject.

          I simply note on the bitcoin page the accolades of Al Gore, Milton Friedman and Bill Gates. Those on a party cruise with that crowd, may find their ilk mysteriously sailing to safety on a life raft, while the partyers sink and drown in the lonesome blue…

          But that could be a long way off. Long after my own bubble is burst.

        • HomeRemedySupply says:

          Perhaps in the future the “reference unit” for currencies will change from the dollar to a peer-to-peer model.
          When the hype bleeds out of Bitcoin, perhaps it may used against other cryptocurrencies.
          Transition can be a long process. Take sugar’s harmful effects or fluoride.
          In the 1960’s, when we had leaded gasoline, I was making “peace signs” with lead from lead tire-balance weights.

      • HomeRemedySupply says:

        News December 18, 2017
        Overstock and an initial coin offering (ICO) for tokens for a new trading platform called tZero.
        (The video within the article is well worth watching)
        https://finance.yahoo.com/news/overstocks-250-million-ico-aims-disrupt-wall-street-trading-224100150.html
        The CEO (Patrick Byrne) of Overstock poo-poos Wall Street and the government…
        He has another big announcement coming.

        EXCERPTS
        The disruption Byrne speaks of would essentially turn aspects of Wall Street on its head. The coins offered in Monday’s ICO aren’t designed to be the next bitcoin, but rather to serve as tokens to use the tZero trading mechanism, which will host future ICOs, trading, and short-selling. It aims to operate as a “blockchain-ified” Wall Street exchange – potentially as an alternative to the NYSE.

        Owners of these tokens will get a dividend-like revenue share from tZero as well as the ability to use the token in the exchange to facilitate trading and shorting. The advantage of this hybrid-model over traditional exchanges, Byrne says, is lower cost, transparency from a distributed ledger, and less shady business. The platform would initially trade the tZero token but plans to expand. Byrne sees tokens as the future of securities, with ICOs replacing IPOs.

  24. HomeRemedySupply says:

    Bloomberg – December 2017
    Coinbase CEO on Crypto Surge, Bitcoin Futures, IRS
    (10 minutes) https://www.youtube.com/watch?v=ZqF43uD3kKQ
    The CEO of Coinbase was interviewed on Bloomberg.
    They covered a lot of topics.

    What stood out for me was that the IRS and Coinbase went to court. The IRS wanted the customer information on ALL of Coinbase’s users.

    • john.o says:

      Is there a futures market for false identities? Now I would go all in on that.

  25. HomeRemedySupply says:

    The Street – December 12, 2017
    Why the Bitcoin and Cryptocurrency Economy Needs to Be Regulated — and How
    https://www.thestreet.com/story/14418704/1/why-regulate-the-crypto-economy.html

    EXCERPT
    …Now is the time to talk about bridging the gap between the crypto and traditional economy in order to safely create better access to a level playing field. Smart regulation is not about removing regulation. On the contrary, it should embrace the sound, existing regulations of well-known securities and legacy protocols, while also embracing the opportunities for efficiency, good governance and accountability that blockchain technology offers….

    • john.o says:

      “Smart regulation is not about removing regulation.”

      YES AND:

      Smart control is not about losing control.

      Smart theft is not about stopping stealing.

      Smart slaving is not about letting your slaves go free.

      Looks to me like crypto was just a temporary opening in the wall that allowed a little free-trade/smuggling for awhile, just long enough to make a few people wealthier and change user habits.

      “All in all — it was just a brick in the wall.
      All in all — it was all just bricks in the wall.”

  26. HomeRemedySupply says:

    Corbett Report Twitter – Dec 16, 2017
    EU agrees clampdown on bitcoin platforms to tackle money laundering
    https://twitter.com/corbettreport/status/941869875428859904

  27. HomeRemedySupply says:

    Dec 11, 2017
    OilCoin: The World’s First Compliant Cryptocurrency
    https://oilprice.com/Energy/Crude-Oil/OilCoin-Worlds-First-Compliant-Cryptocurrency.html
    EXCERPTS
    A team of banking and technology managers and former U.S. regulatory commissioners said on Monday that they are launching the world’s first regulatory compliant cryptocurrency backed by a physical asset—OilCoin, which will be based on oil reserves.

    OilCoin’s public token sale, also known as the initial coin offering (ICO), is expected to begin in January 2018, said the team behind the project that includes Bart Chilton, former Commissioner at the U.S. Commodity Futures Trading Commission (CFTC) between 2007 and 2014.

    The aim of the OilCoin is to tokenize barrels of oil, where each token will represent the value of one barrel, and provide users with a meaningful safe haven from cryptocurrency volatility, the team launching the digital currency said…

    …OilCoin will comply with U.S. laws and regulations and will be suitable for global institutional and retail users, the team noted….

  28. 111823 says:

    https://hashgraph.com/#sdk

    Hashgraph The Future of Decentralized Technology

    Hashgraph is data structure and consensus algorithm that is:

    Fast: With a very high throughput and low consensus latency
    Secure: Asynchronous Byzantine fault tolerant
    Fair: Fairness of access, ordering, and timestamps

    These properties enable new decentralized applications such as a stock market, improved collaborative applications, games, and auctions.

      • HomeRemedySupply says:

        Very, very interesting.

      • john.o says:

        OH YEAH! I am putting some of this in my own words, because that is the way I try to squeeze technical genius through my own meager corpus collosum, which happens to be my profession: once a technical concept fits into my Luddite head, it is ready for the masses, but if any engineers feel I am butchering it, I am all ears:

        Jumping ahead, very important: the #hashgraph technology has been market-validated by these people having pitched and sold it to a major consortium of credit unions to manage a peer to peer network of large transactions. They won out over IBM and other data giants!!!!! This is IMPORTANT because this is all about trusting their “gossip” algorithms to validate CRITICAL timestamped transactions and priorities (!!!) and these large financial institutions vetted and now trust their DECENTRALIZED technology.

        blockchain and hashgraph are both “distributed ledger technologies” – this in itself is interesting, a more comprehensive term of art immediately more important than “blockchain.”

        PERSONAL NOTE: Weirdly this is the first time I have ever understood blockchain because it was explained in terms of well-known problems in backup and disaster recovery, which happens to be the space I work in: blockchain essentially is a way of having to share out multiple massive “master” databases with ones potential competitors, and resolve to a single master-master. (Multiple masters is an oxymoron, highlighting a well-known issue, particularly among competitors.) The master-master is still centralized. (boo!)

        Two very important points raised (if I am understanding or interpreting correctly): Block chain is “chain dependent” and for this and because of the size of the masters hugely resource intensive – AND if the blockchain network is partitioned (e.g. China firewalls its whole population) blockchain will simply still run as diverging databases, which no longer resolve to a single master-master. It seems #hashgraph builds a trust-value network which no one can partition w/o losing value.

        W/ hashgraph – each member runs an entire application locally rather than on a centralized server!!! Rather than trading around master databases of transactions, (BIG MOFOS) one trades around recent transactional deltas with “gossip” about a few previous “votes” and transactions. This “gossip” and the algorithms that handle it, to ensure a trusted record of time stamped transactions and priorities on the network, is the secret sauce.

        #hashtag uses algorithms that can use these layers of gossip to predict with mathematical certainty how the new transactors would vote and trust in transactions. This is the “MAGIC*” in #hashgraph. With no proof of work inefficiencies, it’s fast, doesn’t bottleneck and does not depend on a centralized master server – ever. This is huge. If I am getting it right, it also means currency created in such a network would be neither open ended fiat, nor zero sum scarcity based.

        “The anti-Cloud” + “the anti-Bank” OH YES!

        • john.o says:

          Here is the rub: for this (or any trust network like this) to work, the number of hostile actors trying to subvert it as a whole can never rise above one third of the network’s population.

          According to these guys, this is a mathematical certainty in any such system. Among credit unions, this is less of a problem than in a future public network. They believe they have found a way to mitigate this, to be announced soon.

          PLEASE! you folks out their smarter than me, please stay on this one.

          PS: I am still looking for a simple way to present a-synchronous BFT, but it relates to the China problem, I think, and also the everyday problem of what happens if a synced node goes offline (???). I found this fascinating anecdote (no citation unfortunately) in wikipedia: “A similar problem faces honeybee swarms. They have to find a new home, and the many scouts and wider participants have to reach consensus about which of perhaps several candidate homes to fly to. And then they all have to fly there, with their queen. The bees’ approach works reliably, but when researchers offer two hives, equally attractive by all the criteria bees apply, catastrophe ensues, the swarm breaks up, and all the bees die.” Engineers, help me out.

          *NOTE to #hashgraph marketing dept: DO NOT USE “MAGIC.” I would much rather hear about “mathematical proofs that stand up in court” and the credit unions who trust millions of dollars to your algorithms. You guys came off as sincere, and I am a tough critic of tech entrepreneurs, but that turned me off and I started to see the gleam of snake oil in your auras.

          Ok this feels like work. Rack to rhyme.

          • john.o says:

            there is another above this awaiting mod, perhaps because of length? woops! – mea culpa

        • HomeRemedySupply says:

          john.o,
          – Understanding Blockchain –
          Like you pointed out, this really helped me to understand Blockchain Technology because it gave a comparative which addresses a Blockchain inherent problem.

      • mkey says:

        Hashtag is close sourced and patented, correct?

        • HomeRemedySupply says:

          My understanding is that the company has the fundamentals patented and that Hashgraph was developed by a handful of folks.
          However, if you go to around the 54:30 of the video below (“Disruptive Innovation” comment), you hear about being able to download the techstack and being able to build on it.

          Listening to the goals of the main developer (Leemon Baird) at the end of the video is really good news.

          • mkey says:

            Yes, there is an SDK, but the code is proprietary. I.e. it will change in the way its proprietors intend it to change.

            I’m not saying this doesn’t sound great, it does, but the code license is what it is.

          • HomeRemedySupply says:

            Thanks mkey. You are much more savvy than I when it comes to this digital age.

            This brings up “intellectual property rights” which I have always wrestled with from a philosophical/ethical perspective. I flip around on it.

            When folks bust ass and risk all their funds towards creating a new concept type product, it seems only fair that they should benefit.

            • mkey says:

              Intellectual property is what it is. Putting a copyright on an idea is very unnatural and thus instinctively bothersome.

      • manbearpig says:

        Wow! I KNEW it! I Hate to say I told you so but I Did TRY to Warn you all!

        Bitcoin’s gonna melt the global ice caps!! Good work guys! I mean…

        sheesh… Since when are PVBAs Sustainable!?

        have to say, all those questions from the public were always so pertinent and well-timed…never happens in my classroom…

        but there were so many “smart people” there! God bless this new Smart world full of such Smart people!

        No but seriously, what I love about this new Hashgraph technology is the integrated retrograde amnesia and the predictive non-voting! Virtual non-voting and recording so light and full of holes… recalls the musky scent of neural Lace!

        I also love how the banks and the credit unions get first dibs institutionalizing the private distributed ledger system! For me this guarantees the credibility of Hashgraph’s creators. Certainly erases any conflict if interest issues in my mind.

        I also love the idea of Amazon checking for itself the brand of lightbulb that burned out in my home and the notion of integrating planned obsolescence into this brave new world system. I’m sure Byron would approve.

        Also love how it escapes the control of governments- you know those evil governments who’ve oppressed certain Asian countries!… controlled by evil multi-nationals, credit unions and banks…

        and breaking down that great firewall of china! or at least making it obsolete! About time!

        Honestly the best part is the vibe at the Elixir bar…

        almost makes you forget that the technocrats out of MIT and Carnegie Mellon are mediating the disintermediation of a society increasingly mediated by layers of disintermediated technology…

        think I need another smoothie…

        but I want to conclude with the quote at the bottom of Baird’s home page:

        “This is My commandment, that you love one another, just as I have loved you.1 I am the good shepherd; the good shepherd lays down His life for the sheep.2 I am the way, and the truth, and the life; no one comes to the Father but through Me.”3
        –Jesus Christ

        don’t know but that sounds a lot like a centralized master server to me… must be some serious bottlenecking and fairness issues… don’t you think?

        • mkey says:

          The non voting does ring some bells, doens’t it lol

          • manbearpig says:

            Not voting’s cool.

            It’s the “I know what you would’ve voted” that’s truly breathtaking…

            vaguely reminiscent of the electoral college…

            but if it’s more sustainable…

            I mean, think of the polar bears…

            • mkey says:

              Well, abstaining from voting in such a situation is not an option. I don’t understand how does that play out mathematically, but it does sound like it has a lot of potential for abuse. All in all, a very tidy solution for a very messy problem.

              Applying to the Byzantine generals situation, it would practically mean that all of the generals, and possibly soldiers, learned through gossip of the best option to attack, which would be right before the dawn, and just went for it, knowing everyone knows the same thing and would reach the exact same conclusion. This is either abstract math or bullshit.

    • HomeRemedySupply says:

      This Hashgraph is one hell of a Disruptive Innovation and possibly may even change the internet to the way it should be.
      (About 10 or 15 minutes)
      https://youtu.be/SF362xxcfdk?t=51m50s

      • HomeRemedySupply says:

        The interviews in the video above are well worth watching.

        I love this QUOTE (around the 55:10 mark)
        …For me the most exciting applications, or potential applications, for Hashgraph, are, in terms of internet of things, in terms of identity, and allowing us to being able to control our own identity instead of it being in the heads of corporations or other organizations….

        • john.o says:

          right, at first, i admit, the IoT talk threw me, but then i saw that, as presented so far anyway, Hashgraph is a way for IoT to form trusted “anonymous” networks that sync, compete and cooperate with no central control

      • Octium says:

        It looks like a lot of hype to perhaps sucker in some investors and make the developers rich.

        That’s not to say that there is not some genuine innovation in it, I honesty I have not looked enough into the technical details to Judge that, however the tech is closed source and patented.

        It’s not uncommon for large companies to patent innovative ideas with no intention to develop them further just to stifle competition to their existing products.

        Perhaps they are hoping the banks will buy them out to hinder future development of public block chain technology?

        A simple rule of thumb is can you download the source code and be free to use it without asking anyones permission? If not then it is no good and is not an alternative to the blockchain.

        There are going to be a lot of traps out there!

  29. john.o says:

    thanks, mkey, your point re patent is most immportant, imo

    As to MBPP’s “I also love how the banks and the credit unions get first dibs institutionalizing the private distributed ledger system! For me this guarantees the credibility of Hashgraph’s creators. Certainly erases any conflict if interest issues in my mind.”

    Certainly I understand raised eyebrows and wanting to know more! but the fact that a bank uses the strongest steel for its safe does not mean the steel is less strong when I use it. Some credit unions remain in fact some of the more independent banking entities out there in the mainstream and it is possible they want a fair rational system to trade between them.

    Again reservations are healthy, but writing off hashgraph because it pre-determines a “vote” is too hasty. A vote here is really a mathematical term, I believe. I think maybe what is being gotten at is more like a “move.”

    Think of a game where the payoff is large and the system is predicting your move in a checker game where it is a much better player and has more information about your opponent than you do. You are not interested in making the “cleverest looking” move and losing. You are interested in making the best calculable move, from the pov of a rational actor who wants to win.

    What hashgraph is claiming, I THINK, is that it can make the same “best move,” so-defined more or less, based on gossip as you would make as a rational actor based on the full ledger. And they claim that as a mathematical certainty.

    I don’t know it it’s true but it does not seem outlandishly impossible to me.

    How auditable is this? That is the question, I believe.

    • HomeRemedySupply says:

      The “Voting” thing…
      While I am a layman, my rendition is that it is agreement at a ‘truth’ quickly.
      For example, the roulette or craps dealer calls out a number which came in. All eyes can see it, both winners and losers along with bystanders. They all vote a silent “yes”.

  30. manbearpig says:

    well, I might be somewhat on edge these days but, Yes! Several aspects of this Hidden Forces Hashgraph video irritated me…as you may’ve noticed…

    First of all, the video’s been posted since October 27th and there’re only 1900 hits. If this is some sort of outrageously inventive technology that is going to save freedom and polar bears then (even if there are other videos on the net about it) why are there so few hits?

    Secondly, this whole culture of who’s more intelligent and enterprising I’ve always found supremely annoying. Leemon Baird who got his PHD in hirstorically record time at Carnegie Mellon. Who’s sold the highest number of promising start-ups etc.

    Folks selling start-ups called “Higher Clique” do not sound like the peoples’ liberator.

    Third, this whole, “We can’t tell you everything now, but SOON!” is also aggravating and reminiscent of all those historically liberating “Data Dumps” we were supposed to get from those sanctified whistleblowers Assange and Snowden.

    After that, just an allusion to MIT gets my hackles up as they’re DOD and then Mance Harmon goes on to explain to us how his SIM is used

    “for figuring out how to play these ballistic missile defense war games and determining what the strategy should be for protecting the U.S. and its allies.”

    Then of course the pat politically correct “bitcoin in its current state “will melt the ice caps” without the faintest hint of irony… and the reference to the light bulb which is inevitably and automatically an allusion to planned obsolescence was very revealing with regards to the progressive, subversive, rebel nature of these gentlemen.

    So, this Hashgraph may very well be promising but these people are not here to offer any keys to freedom to the “Lower Clique” .

    Unless it’s what the deep state has had planned for Corebetteers all along…?

    • manbearpig says:

      So took a quick listen to only parts of the following link (+13,000 hits) with Leemon Baird:

      https://www.youtube.com/watch?v=aOYP05GwKCk

      A couple of quotes (approximately rendered) that stood out in my morning pre-hamster-wheel haste:

      with reference to today’s slow banking transactions:

      “The banks aren’t evil, they’re frustrated too!)…

      With reference to cyber bullying and poor interpersonal connections and addressing the impact of anonymity on behavior:

      “So the problem is that we’re alone together…because I’m on my phone texting to a million people and you’re on your phone texting to a different million people…

      “…What you need is a shared world where you have a set of people and everyone sees everyone else in that set and where you notice when someone is being distracted by people outside the set – I think the real problem is not that the one-to-one connection is bad, it’s that we’re only getting one-to-one connections through our technology, we’re not getting the clique connection where we’re all seeing each other and that we all know that we’re seeing each other and that we all know that we all know that we’re all seeing each other – this is what you had with a small group of kids hanging out together in the past that is now being undermined by our current connection technologies…”

      Maybe I really will prefer that virtual juicy steak to the real one some day… maybe that’s what freedom and a sense of community really tastes like…

      • john.o says:

        I think you have it just right here MBP:

        “…Hashgraph may very well be promising but these people are not here to offer any keys to freedom to the ‘Lower Clique'”

        Assuming it is promising, I think the way we look at this is like indigenous tribes negotiating with arms dealers. The guys who are making and selling guns are mostly into profit. They made them for and are certainly selling them to the armies of slave masters invading our lands. As such they are the source of our troubles.

        But they are mostly into profit, and in the right trade they will take furs and blankets and use us as guides to the lands they will never really know. Their newer more efficient pistols and rifles may not be our “liberators” but if we fight with bows and arrows we won’t even be even history, we will die unremembered as its phantoms. If we buy their weapons and fight, we are not likely to win, but we might get to hang out on our reservations till they poison and kill themselves off.

        That’s a low-life Rhymer’s perspective, of course. For those of us who believe that Huxley’s Brave New World was prophetic, we may need to make a choice: do we wish to live inside the cult of the Prophets of Our Ford? or do we start to buy a few of its weapons and try to live as free a possible on the “miserable” but human “reservations” allowed to remain outside its illusions.

        You are right to remind us that, even if some of their weapons can fend them off a while, they were originally designed to kill and enslave us.

        Happy New Year anyway!

        • manbearpig says:

          Please let me express my regret on behalf
          of my conscience that’s throbbing from bashing hashgraph
          and my misplaced remarks concerning its makers
          the great minds of our time, guru movers and shakers.

          The fact that there seemed to be people believing
          that salvation technology they’d be receiving
          from the very deep state that they profess to scorn
          only serves to exacerbate and make me mourn

          my own ego torment at not making the grade
          to be part of the clique Hari Seldon had made
          to shorten the chaos he showed would transpire
          at the terrible fall of the galactic empire

          But we’re not on Trantor
          things aren’t black and white
          Hashgraph’s just a tool
          and I think that you’re right

          We must swallow our pride
          and go for the ride
          but knowing full well
          that the Phoebus Cartel

          is calling the shots
          and gelling the castes
          and making us bots
          and as long as that lasts

          seems that Galton was right
          in his eugenics fight
          and the masses are stuck
          being Rothschild’s schmuck.

          so Happy new year to you too!
          and many thanks for the doggerel therapy!

          • john.o says:

            broken, weak,
            bereft of leeway, do
            begin to squeak your speak!
            there is a freeway thru
            prosaic tweedledum-
            and tweedledeedum!

            tweak Your Mind to Rhyme
            and find Your Freedom!

            – johnny doggerelseed

        • mkey says:

          Their newer more efficient pistols and rifles may not be our “liberators” but if we fight with bows and arrows we won’t even be even history, we will die unremembered as its phantoms.

          Actually, it is considered that early gun powdered weapons were quite a lot less lethal than the bow and arrow. They did, however, make a lot more noise and as such were a lot more probable to scare and psychologically mutilate the opponent.

    • HomeRemedySupply says:

      This fellow (who says he has had 35 years experience in tech) gives his positive take on Hashgraph.
      https://www.youtube.com/watch?v=qBWKykG_O2E
      He mentions Iota, a cryptocurrency which I heard about. And he talks about DAG.

      The following “cryptonaut” fellow gives a nice layman overview of DAG and blockchain.
      https://www.youtube.com/watch?v=I_jNH9BlEEo

      • HomeRemedySupply says:

        People can bash Hashgraph all they want, but something along the lines of DAG or some other alternative will need to replace the slow, cumbersome, blockchain / bitcoin technology which has its problems.
        For example: It cost me $12 to transfer 0.100 Bitcoin to my grandson and granddaughter a few weeks ago. Those kind of fees are not kind to currency. I am sure the fees are less at GDAX, but there are still fees. How can I simply buy bubblegum with cryptocurrency?

        Hashgraph looks like a step in the right direction.

        As things progress, I would wager that an open source rendition will come to fruition.

  31. HomeRemedySupply says:

    “TenX has figured out how to solve one of the biggest problems for people that are involved in cryptocurrency – actually spending the currency.” — Inc.
    (36 second video)
    https://www.youtube.com/watch?v=IjngOjwOrew

    TenX website – https://www.tenx.tech/
    TenX Twitter – https://twitter.com/tenxwallet?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

    • HomeRemedySupply says:

      Now, I am no expert on the “economy”…

      But I am guessing that when people purchase cryptocurrencies with dollars, Euros, Yen, etc. that it takes those currencies out of circulation to a certain extent and those are “stored” virtually. In one respect, this can benefit the Central Banks with their fiat.

      However, Mike Maloney has some very interesting things to say about “velocity” and currency circulation.
      Mike Maloney traveled in the same circles as Robert T. Kiyosaki who was at the June 2017 G. Edward Griffin Red Pill Expo in Wyoming. James Corbett was also a “long distance” speaker for the Red Pill Expo.
      https://redpillexpo.org/speakers/james-corbett/

      Mike Maloney: Currency coming out of hiding & velocity & “Bad Moon Rising”
      VIDEO 30 minutes – https://www.youtube.com/watch?v=P4_1pwsm5LY

      I mention this Mike Maloney video, because it seems to me that in itself cryptocurrencies are not a real threat to Central Banks, UNLESS people can easily spend cryptocurrencies (such as what TenX is trying to make possible).

    • john.o says:

      TenX may: (a) suspend, restrict, or terminate your access to any or all of the TenX Services, and/or (b) deactivate or cancel your TenX Account if:

      We are so required by a facially valid subpoena, court order, or binding order of a government authority; or
      We reasonably suspect you of using your TenX Account in connection with Prohibited Business or Prohibited Use; or
      Use of your TenX Account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity; or
      Our service partners are unable to support your use; or
      You take any action that TenX deems as circumventing TenX’s controls, including, but not limited to, opening multiple TenX Accounts or abusing promotions which TenX may offer from time to time.
      https://www.tenx.tech/terms.html

      what freedom is this if a witchhunt can track it to your credit card or just shut you down for any pending litigation, investigation, or government proceeding and/or… perceived heightened risk of legal or regulatory non-compliance associated with your Account activity?

      • HomeRemedySupply says:

        I am not promoting TenX as a glorified technology. I am making a point of how it is a Disruptive Innovation, especially to the Central Banks.

        Disruptive innovation is a term in the field of business administration which refers to an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products, and alliances.

  32. frances.v says:

    Just a thought:

    21 million bitcoins (to 2020-2030? bitcoin bosses)

    one bitcoin worth 1 million dollars (Webbot data sets (for 2020?))

    21mX1M=21t

    21 trillions whats missing from military activities according to a us professor and his students.

    Coincidence or money laundering on a gigantic (for little economic household me!) scale?

  33. manbearpig says:

    One of my old Uni students just published this (translated by deepl):

    “A Premier League club has the Bitcoin logo on its jerseys
    By Vivien Coronel”

    “…As part of a partnership with the Sportsbet sports betting cryptography site, players from Watford FC, an English football club playing in the Premier League, now wear a jersey with the Bitcoin logo.

    According to a press release, this campaign aims to highlight the market’s first cryptomy and raise public awareness of the benefits of this new asset class.

    “The crypto community has been very supportive of us since our inception. Putting the Bitcoin logo on the sleeves of the jerseys was a fun way to show our support,” said Justin Le Brocque, Marketing Manager at Sportsbet.

    In addition, Bitcoin owners will now have access to certain exclusive services and benefits offered by the London club.

    The logo of the crypto-betting site Sportsbet is also displayed on the jerseys, at the level of the players’ torso…”

    https://cryptonaute.fr/club-premier-league-arbore-logo-bitcoin-maillots/

    blockblog.fr/le-watford-fc-et-le-sponsor-sportsbet-io-ajoutent-le-symbole-bitcoin-au-kit-domestique-2019-sensibilisant-a-la-crypto-monnaie-nulltx/

    • manbearpig says:

      Also by my ex-student:

      “Paying for your Burger King in Bitcoin is now possible in Germany

      By Vivien Coronel 3 septembre 2019

      Spotted by the German crypto-influencer MMCrypto, the Bitcoin logo appears on the German delivery site of the Burger King company alongside other payment methods…

      …To accept the first cryptomoney on the market, Burger King turned to the American cryptopayment provider BitPay.

      Last year, to celebrate the 50th anniversary of the Big Mac, its competitor McDonald’s launched the MacCoin. A physical token of a non-digital nature that can be exchanged for the legendary fast food hamburger…”

      https://cryptonaute.fr/payer-burger-king-bitcoin-desormais-possible-allemagne/

      thanks deepl

Leave a Reply

You must be logged in to post a comment.

Back to Top