Dakardii's topic

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Higgenbotham
Posts: 7436
Joined: Wed Sep 24, 2008 11:28 pm

Re: Dakardii's topic

Post by Higgenbotham »

Cool Breeze wrote:
Fri Jan 22, 2021 4:48 pm
Higgenbotham wrote:
Fri Jan 22, 2021 4:41 pm
Cool Breeze wrote:
Fri Jan 22, 2021 4:31 pm


You are presuming they are the same paradigm with your joke, which is incorrect. You think they are the same scenario, so you apply tulips to BTC as tulips 2.0 = you don't understand what it is. Therefore, "this time" makes no sense.

Even DaKardii, a skeptic, likely knows better than comparing tulips to BTC. It's laughable.
It's absolutely correct to compare bitcoin to tulips and It's no joke. I understand perfectly.
Even a 3rd grader knows that a trustless payment system, semi anonymous, that has features of the hardest money ever created is not a plant in the ground that decays. So please tell me what a tulip shares with BTC, since I shouldn't have to oppose your ludicrous comment - on its face it is preposterous. Seriously, do you even know the characteristics of money? This is embarrassing.
You are an embarrassment to yourself. You have no idea what money is because if you did you wouldn't be suckered into this crap. Bitcoin is crap or, as Charlie Munger says, rat poison. It's about as hard as Warren Buffet when his viagra prescription ran out. It will go to zero. The CME, the Wall Street money machine, and the billionaire speculators have already targeted bitcoin and they will pulverize you to dust.
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.

DaKardii
Posts: 943
Joined: Tue Jan 17, 2017 9:17 am

Re: Dakardii's topic

Post by DaKardii »

Cool Breeze wrote:
Fri Jan 22, 2021 4:29 pm
So I will answer DaKardii: The consensus and network will not allow it meaning it would be an entirely new creation = not bitcoin = not happening.

And by the way, soon the stock to flow for BTC will be greater than gold. If you don't know what that is, look it up. Also note that however unlikely you think it is, gold can be in other parts of our solar system. Haha, bitcoin can't.
You're right that gold can be in other parts of our solar system (or the greater universe), and it probably is. But right now, it's out of our reach.

But I would LOVE to see the day that we can mine the "$20 trillion asteroid."

https://mashable.com/2012/04/26/planeta ... trillions/

John
Posts: 11479
Joined: Sat Sep 20, 2008 12:10 pm
Location: Cambridge, MA USA
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Re: Dakardii's topic

Post by John »

** 23-Jan-2021 World View: Schooling
Higgenbotham wrote:
Fri Jan 22, 2021 5:06 pm
> You are an embarrassment to yourself. You have no idea what money
> is because if you did you wouldn't be suckered into this crap.
> Bitcoin is crap or, as Charlie Munger says, rat poison. It's about
> as hard as Warren Buffet when his viagra prescription ran out. It
> will go to zero. The CME, the Wall Street money machine, and the
> billionaire speculators have already targeted bitcoin and they
> will pulverize you to dust.
Great schooling! You're so much better at it than I am.

Higgenbotham
Posts: 7436
Joined: Wed Sep 24, 2008 11:28 pm

Re: Dakardii's topic

Post by Higgenbotham »

John wrote:
Sat Jan 23, 2021 11:45 am
** 23-Jan-2021 World View: Schooling
Higgenbotham wrote:
Fri Jan 22, 2021 5:06 pm
> You are an embarrassment to yourself. You have no idea what money
> is because if you did you wouldn't be suckered into this crap.
> Bitcoin is crap or, as Charlie Munger says, rat poison. It's about
> as hard as Warren Buffet when his viagra prescription ran out. It
> will go to zero. The CME, the Wall Street money machine, and the
> billionaire speculators have already targeted bitcoin and they
> will pulverize you to dust.
Great schooling! You're so much better at it than I am.
In 13 years on this board, I've never needed to do this until now. The below is just the tip of the iceberg in understanding today's financial realities.
Higgenbotham wrote:
Sat Jan 23, 2021 11:41 am
State Dept. cable confirms gold futures market was created for price suppression
Submitted by cpowell on Wed, 2017-01-04 16:28. Section: Documentation
11:31a ET Wednesday, January 4, 2017

Dear Friend of GATA and Gold:

The U.S. gold futures market appears to have been created in December 1974 as a result of collusion between the U.S. government and gold dealers in London to facilitate volatility in gold prices and thereby discourage gold ownership by U.S. citizens, according to a State Department cable written that month, obtained by Wikileaks, and disclosed today by the TF Metals Report:

http://www.tfmetalsreport.com/blog/8075 ... serve-alch...

The cable was sent to the State Department from the U.S. embassy in London and signed by someone named Spiers, apparently Ronald I. Spiers, the embassy's deputy chief at that time:

https://en.wikipedia.org/wiki/Ronald_I._Spiers

The cable describes the embassy's extensive consultations with London bullion dealers about the imminent re-legalization of gold ownership in the United States and possible substantial gold purchases by oil-exporting Arab nations.

The cable reads: "The major impact of private U.S. ownership, according to the dealers' expectations, will be the formation of a sizable gold futures market. Each of the dealers expressed the belief that the futures market would be of significant proportion and physical trading would be minuscule by comparison. Also expressed was the expectation that large-volume futures dealing would create a highly volatile market. In turn, the volatile price movements would diminish the initial demand for physical holding and most likely negate long-term hoarding by U.S. citizens."

The cable is interesting not just for confirming the assertions by GATA and others in the gold-price suppression camp that futures markets function largely as mechanisms of commodity price suppression and support for government currencies, an assertion perhaps first made comprehensively in 2001 by the British economist Peter Warburton --

http://www.gata.org/node/8303

-- but also for showing the close connection between the U.S. government and London gold dealers, some of which are cited by name, including Samuel Montagu & Co., Sharps Pixley & Co., Mocatta & Goldsmid, and Consolidated Gold Fields.

The cable is posted at the Wikileaks internet site here:

https://wikileaks.org/plusd/cables/1974 ... 154_b.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
http://www.gata.org/node/17081
BlackRock Gives 2 Funds Go-Ahead to Invest in Bitcoin Futures
The world's largest asset manager appears to be getting into the bitcoin game.

Danny Nelson

Jan 20, 2021 at 12:33 p.m. CST
Updated Jan 20, 2021 at 4:20 p.m. CST

BlackRock, the world’s largest asset manager with $7.81 trillion under management, appears to have granted at least two of its funds the ability to invest in bitcoin futures.

Prospectus documents filed with the U.S. Securities and Exchange Commission Wednesday indicate that BlackRock Global Allocation Fund Inc. and BlackRock Funds V are at least eyeing bitcoin. They both include the world’s oldest cryptocurrency on their lists of derivative products cleared for use.

BlackRock did not state which commodity exchange it will choose to execute these crypto futures buys. However, the funds may only invest in cash-settled bitcoin futures. CME is the only exchange registered with the Commodity Futures Trading Commission (CFTC) that offers similar futures products at this time.
https://www.coindesk.com/blackrock-give ... in-futures
Fed Hires BlackRock to Help Calm Markets. Its ETF Business Wins Big.

The central bank’s market intervention helped the largest U.S. provider of corporate bond exchange-traded funds get larger

BlackRock CEO Larry Fink has helped the firm grow to $7.3 trillion in assets.

By Cezary Podkul and Dawn Lim

Sept. 18, 2020 1:31 pm ET

The Federal Reserve’s March commitment to deploy billions of dollars to prop up the economy was a boon for the company the Fed hired to help execute its plan: BlackRock Inc., the world’s largest asset manager.

In response to the pandemic-induced market collapse, the Fed promised to buy corporate bonds and exchange-traded funds that invest in collections of corporate debt.

The Fed had never bought ETFs or corporate bonds before. The central bank tapped BlackRock to help advise it and buy the bonds and funds on its behalf, though the central bank retained ultimate authority over what to purchase.

The Fed’s interventions worked as designed, stoking investor confidence and restoring market function—even before the central bank had bought anything at all. But one side effect was that many of the funds investors poured into were BlackRock’s own, making the giant firm an even bigger player in the exchange-traded-fund market.

In the days after the Fed’s announcement on March 23, traders jockeyed to figure out what funds the central bank might buy, and bought those funds themselves.

TO READ THE FULL STORY
https://www.wsj.com/articles/fed-hires- ... 1600450267
Janet Yellen Will Consider Limiting the Use of Cryptocurrency

During her confirmation hearing, the Treasury nominee said that blockchain-based financial networks are “a particular concern.”

CRYPTOCURRENCIES COULD COME under renewed regulatory scrutiny over the next four years if Janet Yellen, Joe Biden's pick to lead the Treasury Department, gets her way. During Yellen's confirmation hearing on Tuesday before the Senate Finance Committee, Senator Maggie Hassan (D-New Hampshire) asked Yellen about the use of cryptocurrency by terrorists and other criminals.

ARS TECHNICA

This story originally appeared on Ars Technica, a trusted source for technology news, tech policy analysis, reviews, and more. Ars is owned by WIRED's parent company, Condé Nast.

"Cryptocurrencies are a particular concern," Yellen responded. "I think many are used—at least in a transactions sense—mainly for illicit financing."

She said she wanted to "examine ways in which we can curtail their use and make sure that [money laundering] doesn't occur through those channels."

Blockchain-based financial networks are attractive to criminals because they do not require users to identify themselves—as the law requires most conventional financial networks to do. Because no individual or organization controls these networks, there's no easy way for governments to force them to comply with money-laundering laws.

So instead of trying to force the networks themselves to comply, regulators in the US—and many other jurisdictions—have focused on regulating bitcoin exchanges that help users trade between dollars and cryptocurrencies. Once a bitcoin exchange identifies who initially received a particular bitcoin payment, law enforcement can often trace subsequent payments through a blockchain network's open payment ledger.

In December, Trump's outgoing team at the Financial Crimes Enforcement Network—a unit of the Treasury Department focused on money laundering—proposed a new set of rules to tighten the screws on cryptocurrency-based money laundering.

Under the new rules, cryptocurrency-based exchanges would need to file transaction reports with FinCEN any time a customer made a cryptocurrency transaction worth more than $10,000. This would mirror existing rules requiring conventional banks to report when customers make cash withdrawals or deposits worth more than $10,000.

Even more controversial in the cryptocurrency world, FinCEN wants to impose new record-keeping requirements for transactions involving users who manage their own private keys—dubbed "unhosted wallets" by FinCEN. Under FinCEN's proposal, if a cryptocurrency exchange's customer sends more than $3,000 to an unhosted wallet, the exchange would be required to keep a record of the transaction, including the identity of the customer who initiated the payment.

These new rules didn't take effect before Trump left office, so the incoming Biden team will need to decide what to do with them. The Biden administration could sign off on the existing rules, rewrite them, or scrap them altogether. Yellen's comments on Tuesday suggest that she is unlikely to scrap the rules. If anything, the Treasury Department is likely to consider additional regulations of the blockchain economy over the next four years.

This story originally appeared on Ars Technica.
https://www.wired.com/story/janet-yelle ... ocurrency/
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.

Higgenbotham
Posts: 7436
Joined: Wed Sep 24, 2008 11:28 pm

Re: Dakardii's topic

Post by Higgenbotham »

I think GATA, having long experience in exposing gold price suppression by the bullion banks, might be a good source of information on potential BTC price suppression.

Central banks prepare to attack bitcoin as they long have attacked gold

Submitted by cpowell on Thu, 2021-01-14 16:11. Section: Daily Dispatches

Bitcoin Faces Regulatory Scrutiny after Rapid Rally

By Eva Szalay, Matthew Vincent, and Martin Arnold
Financial Times, London
Thursday, January 14, 2021

Regulators are sharpening their focus on bitcoin and its use in the international financial system after the value of the digital currency raced higher in a volatile rally that fed concerns over its lack of robust oversight by financial watchdogs.

Both the UK’s Financial Conduct Authority and the president of the European Central Bank highlighted the need for more stringent regulatory scrutiny for cryptocurrencies this week, noting the extreme volatility and criminal activity often associated with the market.

ECB president Christine Lagarde said at a conference on Wednesday that bitcoin was “a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.”

Ms Lagarde’s comments follow a grimly-worded warning from the UK’s regulator, which reiterated to consumers this week that anyone dabbling in bitcoin schemes “should be prepared to lose all their money.” ...

... For the remainder of the report:

https://www.ft.com/content/b9aaa876-dbd ... 78daeb63b0
http://www.gata.org/node/20812

Bitcoin holders barred from depositing profits in some UK banks

Submitted by cpowell on Sat, 2021-01-09 16:34. Section: Daily Dispatches

As long as government controls the banking system, how difficult will it be to cripple cryptocurrencies?

* * *

By Katherine Denham
The Times, London
Saturday, January 9, 2021

Bitcoin has surged to record highs this week but anyone who wants to take profits might struggle to cash in their gains.

Some banks will not accept transfers from bitcoin exchanges. HSBC, one of the biggest banks in the country, does not process cryptocurrency payments or allow customers to bank money from digital wallets. While other leading banks will accept transfers from digital wallets to current accounts, many will not allow customers to use their credit cards to buy or sell bitcoin.

When buying bitcoin or another cryptocurrency, you need to use an exchange such as Coin Corner or Coinbase to open an account. Once you have put funds into your account by making a bank transfer or using a debit or credit card, you can then buy and sell units of bitcoin.

These exchanges also give you the option to store your bitcoin in a digital wallet. If you want to cash in profits and move the money into your bank account, the banks that accept transfers from digital wallets expect you to convert bitcoin into a fiat currency, such as sterling, euros or dollars first.

With the price of bitcoin surging above $40,000 this week after increasing by about 300 per cent last year, this could be the first time that many people have decided to take their profits.

If their bank will not accept transfers, their money risks being stuck on the platform and useless until they can find a company that will. Experts advise people to ask their banks about their policies before investing in bitcoin or other cryptocurrencies.

Concerns about money laundering are at the heart of scepticism about bitcoin. The nature of cryptocurrency makes it difficult to trace its origins, so many think it is the perfect way for criminals to conceal their activities.

On Wednesday the City regulator, the Financial Conduct Authority, banned the sale of complex cryptocurrency products, such as derivatives, to consumers, although you can still buy the currency itself. ...

... For the remainder of the report:

https://www.thetimes.co.uk/article/bitc ... -depositin...
http://www.gata.org/node/20797


It's interesting that this activity is coming out of London, same as the origination of the gold price suppression.



This one is also interesting for what it implies about BTC.
Gold market rigging now can be discussed at Kitco News

Submitted by cpowell on Sat, 2021-01-23 01:31. Section: Daily Dispatches
8:30p ET Friday, January 22, 2021

Dear Friend of GATA and Gold:

Former U.S. Rep. Ron Paul, R-Texas, interviewed this week by David Lin at Kitco News, says that while he can't prove it, he believes that the U.S. government is manipulating the price of gold and is fully capable of doing so to maintain its monopoly on money.
http://www.gata.org/node/20826
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.

Cool Breeze
Posts: 2935
Joined: Sun Jul 26, 2020 10:19 pm

Re: Dakardii's topic

Post by Cool Breeze »

Higgenbotham wrote:
Fri Jan 22, 2021 5:06 pm
Cool Breeze wrote:
Fri Jan 22, 2021 4:48 pm
Higgenbotham wrote:
Fri Jan 22, 2021 4:41 pm


It's absolutely correct to compare bitcoin to tulips and It's no joke. I understand perfectly.
Even a 3rd grader knows that a trustless payment system, semi anonymous, that has features of the hardest money ever created is not a plant in the ground that decays. So please tell me what a tulip shares with BTC, since I shouldn't have to oppose your ludicrous comment - on its face it is preposterous. Seriously, do you even know the characteristics of money? This is embarrassing.
You are an embarrassment to yourself. You have no idea what money is because if you did you wouldn't be suckered into this crap. Bitcoin is crap or, as Charlie Munger says, rat poison. It's about as hard as Warren Buffet when his viagra prescription ran out. It will go to zero. The CME, the Wall Street money machine, and the billionaire speculators have already targeted bitcoin and they will pulverize you to dust.
You never answered my question to you of what constitutes money, and there is a reason. I think that's also why you deride me without actually addressing the topic. As for your speculation, no it won't. They targeted it so well, so far, that what used to be $.10 is now $30k+ and has institutional investors all around the world. Genie's out of the bottle, son, wake up.

Cool Breeze
Posts: 2935
Joined: Sun Jul 26, 2020 10:19 pm

Re: Dakardii's topic

Post by Cool Breeze »

John wrote:
Sat Jan 23, 2021 11:45 am
** 23-Jan-2021 World View: Schooling
Higgenbotham wrote:
Fri Jan 22, 2021 5:06 pm
> You are an embarrassment to yourself. You have no idea what money
> is because if you did you wouldn't be suckered into this crap.
> Bitcoin is crap or, as Charlie Munger says, rat poison. It's about
> as hard as Warren Buffet when his viagra prescription ran out. It
> will go to zero. The CME, the Wall Street money machine, and the
> billionaire speculators have already targeted bitcoin and they
> will pulverize you to dust.
Great schooling! You're so much better at it than I am.
I hope you are mocking him, since irrational ad hominem is the furthest thing possible from "schooling."

Cool Breeze
Posts: 2935
Joined: Sun Jul 26, 2020 10:19 pm

Re: Dakardii's topic

Post by Cool Breeze »

Higgenbotham wrote:
Sat Jan 23, 2021 2:06 pm
Former U.S. Rep. Ron Paul, R-Texas, interviewed this week by David Lin at Kitco News, says that while he can't prove it, he believes that the U.S. government is manipulating the price of gold and is fully capable of doing so to maintain its monopoly on money.
It's certainly possible that the gold market is influenced at the least, or "manipulated" as you say (like Dr. Paul) for various reasons. It is amusing though, that gold bugs (and again, I own some gold) have said this for years. If they really believe it, why are they in gold? LOL, you can't use this conspiracy shit as a sword and shield. Pick a side, or continue being a hypocrite, but be aware that intelligent people will call you out.

I'll give you one more shot, tell me why anything you want to call money is better than bitcoin. You just said gold is manipulated, which should be a warning for anyone, as you suggest that btc is as well, so you are unwittingly already cornering yourself. When you don't address the question, let it be known that you have no reason to think the way you do other than emotional reasons. And I can't read minds, nor predict irrational people's next claim.

John
Posts: 11479
Joined: Sat Sep 20, 2008 12:10 pm
Location: Cambridge, MA USA
Contact:

Re: Dakardii's topic

Post by John »

** 23-Jan-2021 World View: Mocking
Cool Breeze wrote:
Sat Jan 23, 2021 3:23 pm
> I hope you are mocking him, since irrational ad hominem is the
> furthest thing possible from "schooling."
No I was not mocking him. He's a lot smarter than you and knows a
great deal more about this subject than you do. You're lucky that he
took the time and made the effort to try to educate you, but
apparently you can't be educated.

Cool Breeze
Posts: 2935
Joined: Sun Jul 26, 2020 10:19 pm

Re: Dakardii's topic

Post by Cool Breeze »

John wrote:
Sat Jan 23, 2021 4:58 pm
** 23-Jan-2021 World View: Mocking
Cool Breeze wrote:
Sat Jan 23, 2021 3:23 pm
> I hope you are mocking him, since irrational ad hominem is the
> furthest thing possible from "schooling."
No I was not mocking him. He's a lot smarter than you and knows a
great deal more about this subject than you do. You're lucky that he
took the time and made the effort to try to educate you, but
apparently you can't be educated.
More ad hominem, yawn. He's so smart he can't even tell me what the properties of money are. Talk about getting an education. If you consider maligning other people on topics you know less about, that's a great education. And if he did know more, he would have shown that he knows more. Any honest outside or objective reader knows already that I've posted more in my last 3 responses than both of yours combined, which are just attacks and emotional paragraphs, both.

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