hahaha ... roach getting pwnd on monetary science by anonymint!! cryptos brings out all the weirdos that's for sure ... goldbugs actually do not like free markets for money after all, they prefer the rubber glove of gubmint agents from wall st up their backsides.
With respect, not all physical gold advocates prefer interference from .gov nor Wall St. I highly value some some cryptos as well as gold.
Having great respect for free markets is no way incompatible with liking BTC and/or Au.Perhaps his implication was about
my (quotes of Armstrong’s) point that all the claims about gold being long-term manipulated to suppress its true value are claims about indicators which can also be manipulated or which have free market justifications for their indications which have nothing to do with suppressing gold. There’s no firm basis to conclude that gold is manipulated long-term, i.e. free markets instead must be assumed. It’s documented (by Armstrong first-hand such as the Buffett case with silver in the late 1990s) that markets can be short-term manipulated wherein the “NY bankers” for example try to trade against their own clients, but this can be to the upside as well as downside and only short-term (as Armstrong has documented and explained).
Your valuation of gold is presumably (given prior statements in this thread) based on the belief that it has always been money and always will be money (i.e. could be handed down to the children and grandchildren as a family heirloom), but that is historically false. Better forms of money come along and render the prior forms useless as money, e.g. sheepskins, shells, slabs of iron/bronze used to all be money. Gold was more compact, transportable and more fungible than the aforementioned antiquated forms of money. Paper money was even more so, but could be created willy-nilly by various nation-state regimes. Now crypto is even more so and adds the inability for any one nation-state to corrupt it’s invariants (e.g. protocol programmed money supply). And I’m (and I presume others are) working on even further improving the decentralized invariance of ledgers. Technology doesn’t stop moving forward just to accommodate old people who still think the world is flat.
If we’re very lucky gold might go to $5000 at most (Bitcoin already raced past gold and is going to a $million by 2024 or so), and then we have to hope that governments won’t target those with large holdings of gold as terrorists (and/or blame them for the financial collapse
1) when they try to sell at that price. If you don't sell such as the peak in 1979/80, then you ride gold down for decades as interest rates peak and a new bond bubble forms. And also I think the next bear market for precious metals will take them down towards irrelevance because of the advent of decentralized ledgers.
It’s just time. Precious metals are nearly finished in human history. To all readers, we’re at the cusp of a major shift in the monetary history of the world. Get on the train or be left behind.
Afaics, all forms of fungible physical money are becoming defunct, including gold. Gold will become just like any other physical asset equivalent to real estate. It will no longer be effectively movable, because no one will be willing to buy it without paying tracked electronic money for it in exchange which of course the governments can then tax, confiscate, and restrict movement same as for real estate. Barter isn’t coming back. Gold will become trinkets for fondling and gazing, like jewelry, gaudy gold trim such as at the Trump executive suites.
| 1 | We are bringing this model back into play because there are rising concerns among our European clients that if they hedge against the decline of the Euro and government bonds in the EU when the collapse unfolds, they will be targeted for undermining the government. The way to avoid this and be “politically correct” traders, is to once again create synthetics correlated with time.
With the hostility in Europe eliminating the ability to short government bonds in a pathetic attempt to prevent the collapse of the EU bond market, it is paramount that we resurrect our synthetic models in order to be “politically correct” in trading what will no doubt turn into a witch-hunt once again.
legendary
Activity: 2912
Merit: 1852
hahaha ... roach getting pwnd on monetary science by anonymint!! cryptos brings out all the weirdos that's for sure ... goldbugs actually do not like free markets for money after all, they prefer the rubber glove of gubmint agents from wall st up their backsides.
With respect, not all physical gold advocates prefer interference from .gov nor Wall St. I highly value some some cryptos as well as gold. Having great respect for free markets is no way incompatible with liking BTC and/or Au.
jr. member
Activity: 42
Merit: 4
I am confused: is Blocklattice the same as RaiBlocks?
Yes afaik it’s the same design. They changed the name based on that post I linked for you where AnonyMint had made them aware of the Rai concept that Vitalik had written about. Afaics, they’re releasing a design that was thoroughly debunked in order to grab the money from n00b speculators.
legendary
Activity: 3108
Merit: 1531
yes
I am confused: is Blocklattice the same as RaiBlocks?
jr. member
Activity: 42
Merit: 4
Some of you were asking upthread about RaiBlocks: RaiBlocks:RaiBlocks is a highly flawed design that was debunked by experts ( including @gmaxwell Gregory Maxwell Core Bitcoin developer) in 2015 as linked below. Heck Vitalik and AnonyMint even helped them think of the name change from Blocklattice to RaiBlocks. […]
Does Armstrong read this thread? See his latest blog today quoted below: Money is an information system that enables cooperation and civilization. The quantity theory of money is wrong, wrong, wrong at many different levels of analysis.
You're arguing both pro-statist and anti-statist for the same point.
My analysis is like 3D chess. You’re still stuck in one dimensional (one degree-of-freedom) analysis. It is by no means a one-dimensional economy. This is global and we are all connected.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
hahaha ... roach getting pwnd on monetary science by anonymint!! cryptos brings out all the weirdos that's for sure ... goldbugs actually do not like free markets for money after all, they prefer the rubber glove of gubmint agents from wall st up their backsides.
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