Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 25. (Read 85774 times)

It's called a consumption tax you buffoon (or in this case, more of a commerce tax).  I did not invent the consumption tax idea, but it's been floated as a replacement by many.  If you don't feel a consumption tax would work, take it up with whoever invented the idea.


Completely wrong.  Nothing in the blockchain actually solves the Byzantine generals problem, so the only way confirmations are useful at all (1 is completely arbitrary and meaningless) is the fact that they're unbounded, while cost to attack is high and can't be done over an extended time.  This means your open entropy system tends to trend towards some form of objective state of consensus when the block validators can't really be monopolized over an extended period of time, while your recursive systems can just go into permanent preemption at any second, making them completely useless.  

The fact that they utilize interest on top of that to force them into perma-centralization is also fail.  Miners come and go.  Interest garnering slumlords whose take is always vastly higher than overhead are forever.  

Any other comments from your freshly created banking shill and/or Israeli intelligence account that should know far better than to try and screw with me by now?  Hows your Ethereum scamcoin doing that you attempted to hijack Bitcoin with?  Yea, that's what I thought.  Enjoy your millions of dollars in losses.

Taxation is theft. We don't wanna find new and innovative ways to pay it, we wanna get rid of it.

While sounding smart to idiots, that acrually makes zero sense.
1.Any closed-loop system is recursive, pretty much by definition. A system without recursion, i.e. one in which the input state is fully independent of its output state, is called an open-loop system.
2. PoS coins are less centralized than Bitcoin, which is mined by a handful of guys in China.

Now, what were you trying to say? This time, say it in words you actually understand.

If you ever made enough money to file a tax return in your life, you'd understand why that also makes zero sense.

If the government tried to force people to use a cryptocurrency to enslave people, it would be a federated chain, not Bitcoin.  Assuming the government didn't have diabolical motives, a government issued coin would probably be better than the system we already have.  You could delete the entire tax system and IRS, and transaction fees would be your tax that gets transported back to the govt.  The only problem is, they would eventually hyperinflate the currency anyway, so a government issued crypto serves no real purpose and couldn't compete with Bitcoin.

If I were the head of the Rothschild JIDF financial cabal, and I controlled half of the worlds real wealth, had various governments across the globe dangling from my finger, and was capable of sending them to war with each other in order to satisfy my own geo-political or profit seeking objectives........why would I allow my great wealth and power, to be priced in Bitcoin, which is owned and controlled by a bunch of grubby little Chinamen?

Crypto is in it's infancy r0ach, and whilst I can forsee some digitial based crypto coming to dominate global finance, Bitcoin just aint gonna be it. Bitcoin is a prototype. Furthermore, if humanity ever gets to the point where some crypto is the global digital currency, then humanity will come to despise that digital currency, as it will be a tool of global enslavement. A centrally controlled one world currency, all transactions traceable, with the central authority capable of 'hard forking' any wallet (contained within an implanted RFiD chip?) belonging to any individual or group that they do not like. All sounds a bit New World Order to me.

I think a Bitcoin/gold trading pair would actually be a really good idea for a lot of the world's economies and trading systems, but I think allowing for each country to maintain their own currency and just trade into whatever store of value is chosen would be a better idea than our current system, that being the US having the primary currency used as a medium of trade, along with it being used domestically in their country.

Rather than have everyone use Bitcoin, maybe keep everything the same and just have Bitcoin be the trade currency, along with gold? Give people the option to own Bitcoin but allow for everything to work the same way it does currently?

That would bring its own questions, though; what would happen to the currency exchange markets?

You don't understand what you quoted.  Any recursive, closed loop system (PoS) is not a decentralized currency, it's a permissioned ledger.  So to create an actual decentralized currency, you require an open entropy system (PoW mining - a permanent decentralized exchange peg), and those externalities that connect it to the real world will have the real world problems leak back into the Bitcoin system.  China trade imbalance is a REAL WORLD problem, not a Bitcoin problem.  The problem just leaks back into Bitcoin because the problem exists in our world.  As I said, all nations adopting Bitcoin would actually eliminate the problem since no nation can operate currency wars then to form the trade imbalance in the first place.

It doesn't matter if Bitcoin exists or not, you would still have to deal with the China trade imbalance regardless, either through war, tariffs, or each nation adopting the same currency to prevent currency wars from creating the imbalance.  Tariffs and war are likely a synonym for each other, so the end result is, you can likely either all die in WW3 or adopt the same settlement currency.  The only viable candidates are Bitcoin and gold, but both could obviously be used at the same time to make up for the deficiencies of one another and everything would just be a BTC/Gold trading pair.

I can't be sure, but I am pretty sure that I have known about Bitcoin longer than you have. The first Bitcoins I bought, were priced something like $3.70. I bought them to buy shit from Silk Road, way back in late 2011. Back then, Bitcoin was billed as a totally decentralised digital currency, controlled by nobody, and maintained by guys just like you and me, who would run the Bitcoin program on their computers, where we would each have a copy of the blockchain stored, and where we could then easily and at ultra low cost, ping Bitcoin around the world, or to each other, to pay for any manner of good or service imaginable.

5 years down the line, the blockchain is the best part of a 100Gb, 80% of the p2p network is contained within huge warehouses, packed with processors, raping energy at an alarmingly high rate, soon to be demanding a minimum cost of $500 per BTC (for those miners getting dirt cheap energy in China), just in order to make it worthwhile for these massive operators to keep running. Meanwhile, what can anyone actually do with Bitcoin beyond trading it? In reality, for most people in the moneyed West, the only situation that is advantageous for for using Bitcoin, is to buy drugs with.....


...neat idea, but things aren't quite working out as well they might have done, back to the drawing board perhaps?

This isn't a "China conspiracy", simply everyone watching the market crash and not touching it until they find a post-Gox floor.  People didn't know if the floor was gonna be $400, $200, or $125.  This is the least plausible conspiracy.


This is where you have things wrong again, as I have explained earlier today.  Your problem is located in the REAL WORLD, not Bitcoin:

That NY Times article implying China has too much power brings up an interesting point about PoW.  If China is the marginal cost and manufacturing leader of the world, any open entropy system that relies on the same externalities should exactly mirror it.
So it's not an actual PoW or Bitcoin problem, but a real world problem...

The good news is, if Bitcoin is successful, nations would not be able to manipulate their currency in such a manner to cheat others with rock bottom exports.  Everyone would have to play on the same level field.  So the problem you claim Bitcoin has, would actually be solved by everyone adopting Bitcoin.  It's probably inevitable such an event occurs and would have to be done using either Bitcoin or gold.  Gold does not function whatsoever in a modern economy though, from lack of granularity, lack of portability, high friction in use, etc.  So all Bitcoin has to do is not die and might be locked in to beat Gold in that inevitable event.

There is my post on trading the current state of the world economy, which applies to Bitcoin, metals, stocks, anything.  Bitcoin and metals are both asymmetric trades at this point, it's all just people fretting over trying to determine if they can get a 20% deflation discount at some point:

https://bitcointalksearch.org/topic/m.15471618

Ya think?

Ya know what I think? I think that China is a pretty corrupt place, where if u don't belong to a certain syndicate of families, then you are fodder for getting pissed over. To do anything in China. you have to be from the right background, and I put it to you, the Chinese Bitcoin whales that operate through the big Chinese exchanges, probably have connections with government officials, who would be well capable of having the PBOC cast a frown on Bitcoin, thus putting the shitters up the market, but without actually clamping down on it. I wouldn't be surprised if the 'China Bitcoin Ban' (that wasn't really a ban) of 2013, and again in 2014, was part of an orchestrated attempt to take over Bitcoin. All throughout the bear market (and indeed up to this very day), the market was/is generally lead by the big Chinese exchanges. Throughout 2014, Bitcoin was repeatedly hammered into the floor, until it bottomed at $150 in 2015, where it fluctuated throughout 2015 somewhere in the $200 range, well below the cost of production for any miners, who weren't in China, taking advantage of ultra cheap electricity. Not only have the Chinese Bitcoin Cowboys emerged with lots of Bitcoins, bought by Westerners at higher prices, and dumped into Chinese wallets by Westerners at lower prices, but currently, around 80% of the BTC mining capacity is in China. This just isn't the decentralised p2p magic internet money of freedom that Bitcoin originally set out to be.

I really don't know how it could be any clearer.

The Chinese have taken over Bitcoin and both totally control the market, utterly dominate the network, and are also the ultimate arbiters of Bitcoin's fate.....and yeah...if the PBOC should happen to really want to clamp down on Bitcoin, and were to order the miners to switch off their farms (and in China, shit like this can and does happen), then Bitcoin is toast. Finished.

For this reason, unlike owning gold, Bitcoin is not, and never will be a safe haven asset. Sure, Bitcoin may one day pump well into the 4 figures, as gold is practically assured to, but unlike Bitcoin, gold cannot simply be 'switched off'. Gold will always have value, regardless of any bankster shenanigans, or government interference. Bitcoin will always be a very high risk asset, with returns going forward, that quite frankly do not match the risk. I can think of loads and loads of stocks that offer similar volatility to Bitcoin, that are also way safer places to have money invested.

I am right because the Winklevoss coins are locked up in their ETF process, so they probably won't or can't just dump them all even if they wanted to.  The simple act of moving their coins to exchange would trigger alarms to lower price, so they're basically FORCED to exit by ETF if they want to sell any coins at all.  Something like the Winklevoss you will be able to see coming from a mile away.  Parties like the JP Morg naked shorts in metals are far more dangerous and harder to predict when they would occur.  Metals only move when civilization is about to implode, so the other 99.99% of the time you're at the mercy of central banks to rape you with naked shorts via their proxies.

If you wanted a great conspiracy theory, you could be MatTheCat and spread the rumor that Bitcoin was created by Jamie Dimon to bail out the JP Morg naked shorts by drawing pressure away from that market.  Maybe a run on COMEX would have occurred if Bitcoin didn't exist, or maybe they would just be trading 1000:1 fractional gold/silver.

everything hangs in the blance as we await to see if r0ach delete's his post.

if you have a problem making money off bitcoin and you feel your being cheated by whales, check out bitmovments, this thread lets you know where price is going at all times.

https://bitcointalk.org/index.php?topic=796276.20

 

not really. the winklesvoss alone have 1% of bitcoin.  how many people are in those 2 groups central banks and 50% private you mentioned??? millions and millions.  believe me no central bank can manipulate all of the forex markets or gold.  the forex is the largest market in the world.  do you even know what trading is?  

you are completely wrong, not only stupid, and if humanity is to survive your entire ridiculous and absurd post should be deleted permanently.  and if you continue with this nonsense you should also be banned . a word of advice next time THINK before you spew your baseless opinions onto the internet.

Not really.  I think I read 50% of gold is owned by central banks and 50% private.  No idea if that number was right, but I don't think Chinese miners own very many coins and most of it is in individual's hands.  Central banks and the JP Morg naked shorts are probably more dangerous than any Bitcoin whales.

bitcoin is very manipulated because its a small market.

alot of coins in a small number of hands.  

thats a dynamic that is very bad for individual traders or small investors since you can be easily cleaned out by whales.

with gold or more general forex its not the same dynamic, more of a balanced market (although still heavily manipulated), so you probably have a better chance

You missed the post where I explained why that is your fault and not Bitcoin's fault.  The system works perfectly fine, you just didn't use it correctly.  There is a blind auction to get included in a block; if you bid too low or go zero fee transaction and it gets stuck, you have to use RBF to get it out.  You have to use external sites to determine what the market rate of fees is at the time because centralized websites can't really be included in the client itself:

https://bitcointalksearch.org/topic/m.15449230


The silver 20y chart looks identical to the Bitcoin pre and post-MtGox chart.  You can get taken to the cleaners in metals, Bitcoin, or stocks.  The current bull run potential of gold is something like $5000-$10,00, silver $200-500, and Bitcoin is probably $4000ish for the next couple years.  I think Bitcoin doubling is more likely than gold doubling because gold really does seem to need some type of black swan event to do something like that, and Bitcoin can do so without it.  Silver might be able to double without a black swan by returning closer to it's historical 1/16 ratio or whatever it was.

Only one way to capitalize on being a shit trader: don't trade. Unless you plan on becoming a good trader & learning by trading.
Know just how you feel. Us mundanes get that sort of lucidity by cocktailing meth with its designer psychedelic cousins.

If you were talking about Forex, then I would agree with you, but listed stocks....just no. As part of my learning process, I used to paper trade stocks just in order to try out setups n such. Much easier to read, with way better success rate. With stocks, there is also the added advantage of being able to run Fundamental screens over them.


You are a long term Bitcoin believer. I am not. You get to ride the full way up big massive pumps, I get to avoid big massive drops.

In the long run, i suspect my scepticism of Bitcoin will be proven correct, over your belief in it.

Kinda freaky

MatTheCat, to be honest with you. I find myself curiously aroused by you and your TA.