Topic: It truely begins (Read 2599 times)

Nice, Wal-Mart next?

It's only a matter of time before shareholders start asking for the revenue being thrown away to credit card companies.

Today I will extend to you three key reasons why the Bitcoin value versus the "Almighty Dollar" is of little significance, and may be totally irrelevant both now, and in the future.

One reason can be from distilled from lessons learned in our history of decentralized networks versus other centralized networks. One can be realized through the present day landscape, and one looks into the future of money as we know it. So let's begin with our ability to learn from history.

Twenty years ago, when the Internet was just starting to gain momentum, it was in a similar state of development as Bitcoin is in today. "The Web" was replacing ancient communication methods like typewriters and snail mail at a slow, but steadily increasing rate. These  wouldn't be instantly replaced, but would be one day irrelevant. As we moved along a few more years, and the 21st century dawned upon us, mainstream news magnets like CNN and the Washington Post joined "The Online Revolution." This caused newspapers to shrink in size, number and demand. As The Internet grew in scope, was it ever compared directly, on a daily basis, to the New York Times or Time Magazine in its relevance?

Just as people today are asking "What is Bitcoin?," people in 1994 were asking "What is e-Mail?," and "What is The Internet?" Bitcoin is following the Internet's lead, in essence, building its own blockchain technology on top of the Internet's existing virtual blockchain, if you will. Bitcoin's growing influence on monetary systems and global commerce are set to be similar in depth to the Internet's inherent ability to change the way we all communicate worldwide. Bitcoin is not so much reinventing the wheel, although it may in the currency markets as it is setting the established wheel of the Internet in an exciting new direction. This potential will take another few years to realize fully how far Bitcoin value can go, but it is moving upward and onward, and the world is starting to take notice.

Bitcoin and Bitcoin value have scared some sovereign governments to the point that they have banned it outright, in practice, or through de facto capital controls. China attacking banks and account holders helped crash the BTC market at the beginning of this year. It has gone through the Mt.Gox fiasco, where trading bots were alleged to pump up the price of BTC, amounting to a market bubble. Also factor in Silk Road, the New York State Licensing controversy, and Alibaba's IPO, the Bitcoin value is still up over 200% in USD value from this time last year. That Bitcoin value has not only survived on a global basis for more than five years, but thrived, and attracted some of the largest merchants worldwide (PayPal, Dell Computers, Dish Network, etc.). This is much more relevant than any comparison to a currency that is in it's final years of relevance itself. If that doesn't prove the inherent strength of Bitcoin value, nothing will. What else has gained 200% or more in these market conditions?

Comparing Bitcoin value to the dollar's is like comparing a written letter to an email.

They may both transmit information or value, but that's where the comparisons should end. Today, merely out of desperation, Bitcoin value is compared to the World's Reserve Currency, the most liquid, most distributed, and most established currency of all time, the U.S. Dollar. We compare Bitcoin value to the dollar's because they're both seen as currencies, but Bitcoin value is much more than that. Currency is just Bitcoin's first "app." It appreciates in the range of 2-400% per annum, and that's in the "off year" like this one. You can send 1000 bits of information within a Bitcoin. You can send millionths of a Bitcoin to someone as payment. The amount of Bitcoins produced is market capped. The distribution of Bitcoin is fully decentralized and is not bound by any primitive territories.



The U.S. Dollar continues it's path to its true inherent value

"The Almighty U.S. Dollar", on the other hand, is kind of like Jack Nicholson, Bill Clinton, the late Joan Rivers, or any other superstar from generations gone by. They've had their time in the sun, where they once ruled their market domain, and now they are fading into our history. The dollar's value is found at this point solely in its liquidity, it's history, and the ability of the U.S. to coerce smaller countries to use it at the business end of a gun. Just ask Muammar Gaddafi.

The U.S. Dollar is poised for a collapse of epic proportions, according to many experts. The "Great Recession" of 2008-2009 was just foreplay. A currency's "Global Reserve Currency" status lasts anywhere from 65-70 years, on average, and the U.S. Dollar has been "in office" for over 70 years now. The sphere of influence of the U.S. Military worldwide, with well over 100 nations occupied by military bases, is the main thing keeping the dollar in business right now. But times are changing.

The BRICS Development Bank is a major regulatory step in advancing the demise of the dollar as an internationally relevant currency. BRICS nations (Brazil, Russia, India, China & South Africa) control 40% of the world's currency reserves and population. When they basically spit in the face of the U.S. Dollar in July, and said they would work directly with each other, and without the current Global Reserve Currency, the U.S. was strangely silent. These countries have been dealing in "Bilateral trade agreements" (International trade deals without exchanging their currency for US Dollars) for many years now. So this new world bank of commerce was just the next logical step.

They did this because the dollar is of little intrinsic value, and the Fed can't seem to stop the bleeding. Federal Reserve officials have failed to get interest rates off of the pavement out of fear of collapsing the economy. They're on the monetary version of life support. The U.S. Government can doctor the numbers, and change the metrics, but countries worldwide are turning their back on the depreciating asset known as the US Dollar, and they know it. Their main job is to make sure you don't know it. You know what they say - ignorance is bliss.  And that's also why the mainstream media only reports Bitcoin value drops, not the usual rise in Bitcoin value.

Many financial experts like Peter Schiff, Jeff Berwick, Mike Maloney, Ron Paul, and Robert Kiyosaki (see links for more information) are predicting the mother of all economic collapses when the dollar inevitably falls. In my former dealings on Wall Street myself as an investment banker, I have to concur.  Even legendary super-investor George Soros says the dollar died in 2008. Americans in particular are truly ignorant about economic collapses because they have never experienced one first hand. What happened in 2008 was a small heart attack, that is a prelude to your coming demise, if you don't amend your ways. Has the U.S. done that, I ask you? Enough said. It's only a matter of time.

"Eventually, this [dollar] will go to it's true worth. Zero. So all of you savers [of dollars] out there, you're going to lose big time!" - Robert Kiyosaki, author of Rich Dad Poor Dad

Does this mean we won't use a dollar in the U.S.? No. We still use typewriters and snail mail. We still read newspapers.

Dollar Demise
Over 95% of these are moved digitally worldwide, not physically. So why not use a better digital currency instead?
Sort of. Not really. But when, not if, the dollar eventually collapses, and heads to it's true intrinsic value, Bitcoin value will have an inverse market relationship. It will then skyrocket to unimaginable heights, at least against "The Dying Dollar." As the dollar continues to slip and slide, Bitcoin will continue its march into the future. The way I see it, the only thing that can stop Bitcoin from outlasting the dollar on the global stage is if Bitcoin defeats itself. Governments attacking Bitcoin out of fear of it's abilities will only cause the "Streisand Effect" to be enabled in their populace.

So the Bitcoin value versus the dollar right now is irrelevant, since Bitcoin is not going to replace the "World's reserve currency" regardless. Ask Bitcoin industry leaders like Andreas Antonopoulos and Cameron Winklevoss, and they'll tell you the price doesn't matter. As Andreas once said on a Joe Rogan Podcast, the Internet's value is not measured in its ability to replace a number of fax machines. So why measure Bitcoin in dollars? They are totally different ecosystems. Like comparing apples to oranges, literally.

Bitcoin has more than held it's own in the face of great adversity over the last five years. Will the dollar, at the ripe old age of 70 years running in it's global position, stand up through the next five years? With the international community turning on it, the Fed overproducing it, and Bitcoin beating it through attrition and superior technology? Don't bet on it. The chances of the dollar going to zero in value in five years are at least even versus Bitcoin value doing the same. You may end up betting your bottom dollar on it, sooner than you think.

Pretty much like kijiji, I posted an add offering to teach people how to use BTC since they are now accepting it, paid some crypto to get it highled because.. why not lol.

Never heard about Backpage, but I hope it's awesome and it will help a lot.

I  insist. Please yes, bankers are welcome. It's a good tactic in a fight when the fiends fighters are coming over to your side. Even more when they still are behind the enemy lines. They could move way more in favor of bitcoin than the average bitcoiner.

Bitcoin is not an asset, Bitcoin is a protocol and it will still be valuable no matter what, and it will turn on OK and will scale up globally, just like TCP/IP scaled globally when all the haters said it was never designed to be used all over the world.

You are right about the bad press. But it's not Bitcoins fault the same way it's not the fault of fiat that it gets used by drug dealers and addicted persons. They use fiat because it has an advantage. So you can't really blame bitcoin for being used for illegal things too. It's simply a misuse that has to stopped but not a problem of the payment system.

this assuming that everything goes well, right now our way looks bright but you never now what will happen, many assets have started with great promise and opportunity to grow but then they faded away like tears in the rain

To be clear backpage didn't tell Visa to piss off but we're told to piss off and then they went with the only option they had left.

Bankers love prostitutes as much as we love bitcoin, but please we do not need bankers or government any where near bitcoin at all.
Could you imagine bitcoin partial derivatives, that makes me feel sick just thinking about it.

 

That is not cool at all. It is a waste of potential of bitcoin. You clearly don't understand difference between using this card and using bitcoin directly.
This card embodies everything that bitcoin stand against. Basically you need a financial institution - a bank to issue this card, you pay fee not for miners, community but for that company.
It is just linking your bank account with your bitcoin wallet which is not good. Only real Bitcoin acceptance is direct acceptance.

The ones selling now will cry later. Same old history as always. The people that is already invested in btc is the 1% of future millionaires through crypto. We are lightyears ahead of the pack.

i think whales are playing between themselves, and stealing money from each other, because fish are not playing anymore since 2013

in fact i think it's the reason why there is a massive shorting and less pump and dump, but i could be wrong


and what if they want to have a babies in the end but also some pelasure while they are doing it?

are you a bishop or something like that?

I won't be buying another dictionary until I can buy one with Bitcoin. 

Lol, thanks for pointing that out, I already fixed it.
Insane is a word for the people that don't own at least 1 BTC in 2015. It should show up in all dictionaries in the future when you look for it.

So now the whales have another reason to pump and dump the Bitcoin prices.
First Greece and now this,  hmmm....  The whale are really lucky.

Paradigm shit indeed.  Not only are religious people insane, but also anyone who doesn't have 1 btc.  Is "insane" just a word for anyone who disagrees with you, or does anything differently from how you do it?

thats what it is for

This is why Bitcoin is here to stay. Regardless of what happens in the future, Bitcoin will always be an outlet for those that need freedom to use their currency as they please.

Include that one on my bills lol. Just the common bills you pay on a household like utilities, power, and whatnot. Also, I can buy some common household items with bitcoin if it is accepted widely by merchants here in my country.