I was thinking - page 2. | Bitcointalksearch.org

ElectricMucus

legendary

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Marketing manager - GO MP

Quote from: ?? on ??

They should have collapsed 5 years ago, but somehow banksters pull one rabbit out of the hat after another, miracle after miracle. Postponing the inevitable for a little more every time. As soon as their diminishing returns on miracle making get too diminishing it is all over.

Actually it's not really a miracle.
The remittance of debt is what keeps the system going, and as long as the extent is large enough this can go on for a long long time. If the amount is equal to the amount of compounding interest which can not be payed back even indefinitely.

BitSmile

full member

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Quote from: Grouver (BtcBalance) on May 28, 2013, 05:30:15 AM

Why would the system collapse in 5 years? Can you highlight this?

Why would it not collapse? http://youtu.be/Osq1yxSFVG0

Hawker

legendary

Activity: 1218

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Quote from: wobber on May 28, 2013, 09:19:52 AM

If banking system would fail, that means bank from all over the world will go into a domino effect right? And I presume there might be wars / civil wars /huge riots

Can someone detail how this might happen? It's not very clear what would happen... bank runs, riots

Banks are guaranteed by governments. So first thing you would see before the banking system fails is a whole series of governments failing. In this context, failure means ceasing to exist.

For that to happen, we have to think in terms of extinction level events.

wobber

legendary

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If banking system would fail, that means bank from all over the world will go into a domino effect right? And I presume there might be wars / civil wars /huge riots

Can someone detail how this might happen? It's not very clear what would happen... bank runs, riots

Hawker

legendary

Activity: 1218

Merit: 1001

http://online.wsj.com/article/SB10001424127887323336104578502791681126734.html?mod=WSJEurope_hpp_LEFTTopStories

"European banks that spent the past few years building up big stockpiles of cash at central banks have started drawing down reserves, a sign of the industry's renewed confidence and appetite for risk despite the Continent's financial crisis."

As I said, hell will freeze over before you see the banking system fail. They came though after the enormous fuck-ups of the last 15 years and have even bigger cash reserves than ever.

Grouver (BtcBalance)

hero member

Activity: 530

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Quote from: Miz4r on May 28, 2013, 05:42:34 AM

. but then again I probably thought the same in 2008.

That was exactly the point i was trying to make...
They will somehow make sure the global economy will not hit hyper inflation and als won't go into an deflationary downward spiral.

BitcoinAshley

sr. member

Activity: 448

Merit: 250

5 years? Just like that David Bowie song?

Remember, in some "developed" countries now, youth unemployment is 60% and there are riots on the street and public school children begging their friends for food at lunch time. Prostitution in Athens has increased by 150%.

I give it 2 years tops. But then, the banksters always seem to have a rabbit to pull out of their hat... Hmmph. So maybe a few more decades of this shit, if the level of acknowledgement by your average person is any indication. Grin

fr33d0miz3r

hero member

Activity: 518

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I think it's a great time for Bitcoin and other cryptocurrencies to show what they can.

Quote from: hahahafr on May 28, 2013, 05:33:11 AM

Something's wrong, can you feel it?

Yes, I feel it. I think in 5-10 years we will can do this without any loss:

herzmeister

legendary

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We can use price indexes like gold, silver, barrels of oil, Big Macs, whatever

Anon136

legendary

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Quote from: Grouver (BtcBalance) on May 28, 2013, 05:30:15 AM

Why would the system collapse in 5 years? Can you highlight this?

It is in collapse right now it's just that things that are very rapid on the timescales of civilizations seem very slow to lilliputians like us and we tend not to notice things that are happening on higher time scales because we focus our attention disproportionately on events that are more recent. It's entirely natural for us to do this, it's a legit survival strategy, we have limited resources to dedicate towards thought. However useful myopathy can be from a survival standpoint it has its obvious drawbacks. The point is you have to know what to look for if you want to see it in real time. Look at the infrastructure crumbling, the renminbi strengthening dramatically against western currencies, americas failure in the "graveyard of empires" and the prices in the grocery store.

there were people who thought they were citizens of rome long after historians consider roam to have collapsed.

Miz4r

legendary

Activity: 1246

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I doubt this system will last 5 more years.. but then again I probably thought the same in 2008. At some point the realization has to settle in that the endless printing of more fiat isn't working, and then what? Can they think of something else? Back to the gold standard perhaps, or maybe then bitcoin will truly show its strength and opportunities to the world.

Hawker

legendary

Activity: 1218

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Hell will freeze over before the banking system fails. In the UK countries, the problem is the banks are too risk averse and not lending money to homebuyers and small businesses.

hahahafr

hero member

Activity: 938

Merit: 501

Quote from: Grouver (BtcBalance) on May 28, 2013, 05:30:15 AM

Why would the system collapse in 5 years? Can you highlight this?

Quote from: fr33d0miz3r on May 28, 2013, 05:31:24 AM

Quote from: Grouver (BtcBalance) on May 28, 2013, 05:30:15 AM

Why would the system collapse in 5 years? Can you highlight this?

It is obvious, man

I'm in Bitcoin since 2012, but I just learned about fractional banking 2 weeks ago. Something's wrong, can you feel it?

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Quote from: Grouver (BtcBalance) on May 28, 2013, 05:30:15 AM

Why would the system collapse in 5 years? Can you highlight this?

It is obvious, man

Grouver (BtcBalance)

hero member

Activity: 530

Merit: 500

Why would the system collapse in 5 years? Can you highlight this?

hahahafr

hero member

Activity: 938

Merit: 501

In 5 years, when the final banking crisis arises, and the whole banking system collapses. Having a "price" for bitcoins in USD or EUR doesn't make sense anymore. The "price" is basically infinite then. BUT the value is not, although still bigger than now.

Topic: I was thinking - page 2. (Read 2810 times)