Gold vs Bitcoin

[Overnight]

Thats your argument?

It is not an argument. It is the start of a discussion. You are entering into an intellectual firestorm now.

You do not seem to understand BBS context.

You have two choices here.

1) Drop this line of thought in the Wall St. News section and start this in a new thread in the politics section

2) Drop this line of thought in the Wall St. News section.

Take your pick.

 

[SunTrader]

Thats exactly what I'm saying !!

You are welcome to use your bitcoins for now but at the first signs of danger to the current world order you will see how virtual your crypto really is.

And yes there is NOTHING you guys can do about it !!

I don't own Bitcoin at this moment but if I did it would be because it is an alternative NOT substitute for cash.

And as for the gubmint shutting down anything, that is your opinion along with the rest of tinfoilhatwearers.

 

[ForexOracle]

I don't own Bitcoin at this moment but if I did it would be because it is an alternative NOT substitute for cash.

And as for the gubmint shutting down anything, that is your opinion along with the rest of tinfoilhatwearers.

Just out of curiosity, Are you the same Suntrader from FF? The guy who lives in Boca Raton ?

 

[SunTrader]

Just out of curiosity, Are you the same Suntrader from FF? The guy who lives in Boca Raton ?

Yep.

 

[ForexOracle]

Yep.

Gosh I remember you posting there when I started 2007 or so...is it correct? I lived in Florida for over 2 decades. Davie close to the Sawgrass Mills mall

 

[Sprout]

Yep. Thats how it goes. People think they are going against the NWO with cryptocurrencies when the truth is that they are walking to the slaughterhouse. With cash you still have some kind of privacy but as soon as money becomes zeros and ones and hits a network it is 100% traceable.

That’s not really the value proposition that BTC has compared to fiat.

As for it’s comparison to gold, watch the stock-to-flow ratio. BTC will surpass Gold within a couple of years.

http://goldstandardinstitute.net/2011/07/16/stock-to-flow-ratio-a-primer/

 

[ForexOracle]

That’s not really the value proposition that BTC has compared to fiat.

As for it’s comparison to gold, watch the stock-to-flow ratio. BTC will surpass Gold within a couple of years.

http://goldstandardinstitute.net/2011/07/16/stock-to-flow-ratio-a-primer/

I'm not disputing the value a cryptocurrency may have as e speculative venture. Or about the opportunity it offers compared to gold or anything else. What I'm talking about is the misconception people have about privacy and security. Due to its intrinsic "virtuality" cryptocurrencies allow transactions to be 100% traceable. Plus your money is yours as long as you have electricity, hardware, software, network access, ISP etc. And assuming authorities let you use it. Take just one of those services out and your money technically can't be used. Or even if you can use the services but is denied access to the hardware ( cellphone or computer) your money is again technically of no value. If everything goes ok, no problems. But if a situation arise and any of the services above is disrupted you have nothing.

 

[Sprout]

I'm not disputing the value a cryptocurrency may have as e speculative venture. Or about the opportunity it offers compared to gold or anything else. What I'm talking about is the misconception people have about privacy and security. Due to its intrinsic "virtuality" cryptocurrencies allow transactions to be 100% traceable. Plus your money is yours as long as you have electricity, hardware, software, network access, ISP etc. And assuming authorities let you use it. Take just one of those services out and your money technically can't be used. Or even if you can use the services but is denied access to the hardware ( cellphone or computer) your money is again technically of no value. If everything goes ok, no problems. But if a situation arise and any of the services above is disrupted you have nothing.

I'd refer you to this excellent piece of writing:


The whole series is of high quality and gives one pause to contemplate the accuracy of the prevalent mainstream narrative.

If you just want to jump ahead to the concepts of Security and Privacy these two sections describe the issues well:

Lesson 15: Strength in Numbers

Lesson 19: Privacy is not Dead


The beauty of Bitcoin is of it's decentralized nature. There is no permission needed from any authority. The blockchain itself creates the verification with no trust necessary. With the rise of cyberbalkanization, with vpn's and the like there are options and choice not defined by geographic political boundaries.


As for your example, if any of services were disrupted we would have much more immediate problems than thinking about money. When a SHTF scenario arises, there are a lot of other things that have greater relative value than money.

As a fun note, BTC has recently been successfully transferred through the use of short-wave radio. So now with a usb sized hardware wallet, a portable solar-panel, battery and ham radio, a prepper is all set.

 

[Overnight]

...

As a fun note, BTC has recently been successfully transferred through the use of short-wave radio. So now with a usb sized hardware wallet, a portable solar-panel, battery and ham radio, a prepper is all set.

You have GOT to be kidding me. So the FCC now can have regulatory oversight over BTC transfers? And at what point in the transmission will taxes kick in for US traders? During which point of the moon bounce?

This story keeps getting better and better.

 

[ForexOracle]

People have the right to believe in what ever they want. I believe cryptocurrencies will be the last deception by the powers that be in their scheme towards a cashless society. And I believe that in a cashless society we will not have any rights over our money.