Re: Financial topics
Posted: Sun Nov 10, 2019 7:59 pm
Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
Generational theory, international history and current events
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Bitcoin does have a residual or minimum value in that it can be used in some cases as the best means to evade government controls or laws. I'm not up on exactly how useful it is for that purpose at this point in time. Beyond that, I don't know that it really has any value. One problem I see with it is that there are potentially thousands of cryptocurrencies and it's hard to say which one(s) will be universally adopted if or when cryptocurrencies come into widespread use.vincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
I was one of the founders of the "Financial Cryptography Conference" in Anguilla, starting in 1997. See http://ifca.ai/fc97/Higgenbotham wrote:Bitcoin does have a residual or minimum value in that it can be used in some cases as the best means to evade government controls or laws. I'm not up on exactly how useful it is for that purpose at this point in time. Beyond that, I don't know that it really has any value. One problem I see with it is that there are potentially thousands of cryptocurrencies and it's hard to say which one(s) will be universally adopted if or when cryptocurrencies come into widespread use.vincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
If anyone followed the attempt of Facebook to create a cryptocurrency (the Libre, I believe) they would know much more than me about this subject.
Yes and yes. I've told you a million times.vincecate wrote: > Do you think the Fed can print as much as they want without risk
> of hyperinflation?
> The US government budget is around $4 trillion per year. If the
> Fed prints $1 trillion every year you think it would be fine?
No, it's an ocean, not just a swimming pool.vincecate wrote: > I expect this "Not QE" to print more than $1 trillion in 12
> months. What about $2 trillion, or $3 or $4 trillion per year? If
> there is no big risk from printing money, should the US just do
> away with taxes?
> The numbers are bigger for the USA than Argentina or Venezuela,
> with the US being a reserve currency for the world, maybe even as
> different as a bathtub and a swimming pool, but it is not as
> different as a bathtub and the ocean. I do expect the phenomenon
> to work the same way, just on a bigger scale.
Krugman's an idiot. He got the Nobel prize because he hated Bush.vincecate wrote: > Even Krugman, who very much likes money printing (nobody would
> call him a Gold Bug) thinks the USA could only get away with a few
> percent of money printing per year without inflation spiraling out
> of control.
> https://krugman.blogs.nytimes.com/2011/ ... DbMzpgAg8k
Lol! That was a pretty wishy-washy answer, wasn't it.Higgenbotham wrote: > Neil Howe is asked point blank whether he thinks we are going to
> war with China.
> https://youtu.be/HWVj970xB5o?t=1975
If you had a midnight express problem it would already be to late.vincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
https://myirainvestment.com/indexvincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
Higgenbotham wrote:Mega-Bank CEOs Announce Cancellation of Stock Market Crash
October 6, 2015 - New York - For the seventh consecutive year, the US banking cartel has canceled an impending autumn stock market crash. During a press conference this morning, Goldman Sachs CEO Lllloyd Bllllankstare, flanked by JP Morgan and Bank of America mega-bank CEOs Jamie Diamondssss and Samuellll Rambullll, announced the impending cancellation of the traditional October crash. Bllllankstare, speaking on the condition that his comments be considered anonymous, stated that the traditional autumn crash is no longer necessary, “because we own most of the stock anyway.” He did note, however, that the autumn crash has not really disappeared, making the distinction between 2 new terms that have recently entered the mega-bank lexicon - “downcrash” and “upcrash”. “In the past, we traditionally engineered downcrashes so we could accumulate stock, but since we now own most of the stock it is actually more advantageous to engineer upcrashes,” Bllllankstare said. “Crashes themselves have not disappeared.” Rambullll, the Bank of America CEO who replaced Eddie Dropbear in 2008, the last year a stock market crash occurred, echoed those comments saying, “We ram the market up now, rather than drop the market. Ramming is considered by our strategists to be a quantum mechanical phenomenon, rather than a Newtonian phenomenon.” When asked by reporters why their names have recently changed to incorporate 4 identical letters in a row rather than the traditional 1 or 2, Bllllankstare and Rambullll replied in unison that, “Letters are free, like money.” “Really, it’s just another way to show that there are no limits to growth,” Rambullll elaborated. “People need to be thinking in terms of the infinite and - when they think in those terms - numbers, words and other metrics can really grow exponentially.” When asked if profits matter anymore, Diamondssss stated that when money and letters are free there is no need for profits. “It’s not like we need to use ink and paper to print all these letters or digits anymore,” he said. “We just create them out of thin air and everyone grows rich, either through trickle-down or, with our new techniques, trickle-up. Our cutting edge research has shown that the problems that occurred in the past due to printing too much money, such as stock market crashes and hyperinflations, were more related to the cost of the ink and paper. We don’t need to worry about that anymore. It really is a beautiful new era of unlimited wealth.”