Topic: The end is near - page 2. (Read 17389 times)

 He is waiting for We.
To be honest there is no where left to go so the only option is to fix it.

Good point. I guess its not a plan scam us, but more a plan to protect themselves. I think Avalon has tons of bitcoins somewhere in the 50,000+ range. Some other smaller companies as well. I think one thing they've managed to do is play smart with cashing out. But in order to protect themselves, they will likely sell out on the next peak especially since AValon pulled a huge amount of Bitcoins sellign chips.

Why haven't you done this?

Spoken like a true investor. The thing is "Bitcoin" is just using you (the greedy investors) as a stepping stone. Remember Bitcoin wants to be more then just an investment opportunity like stocks. It want to become an actual currency that people use. To do that it needs a certain amount of backing to be a viable form of currency. This is where the greed of the foolish comes in. Yes you can make your investment and cash in your reward but by using you Bitcoin can become and established currency not prone to your average investment predictions.

Edit:

Also.. yeah... I do not think the companies making the miners have that elaborate scheme planned. That is just far fetched.

We should abandon the society.

This has nothing to do with the end of bitcoin, but about things that are going to cause problems for the regular investor. I have been thinking about this for a while. Before starting, I assume the price of bitcoins has been lifted due to speculation.

First, the people selling asic machines in return for bitcoins are going to destroy bitcoins for a period of time. Think as a seller. You sell a bunch of miners for bitcoins and let the people attempt to reap the rewards of mining. Once price rises enough, you sell out and reap the benefits before miners can. What perpetuates the price rising is early adopters who spread word of their earnings bringing in more people who want to get rich. In order to sustain the price and continue rising, you need more people to invest in the currency and believe in it. once influx of people come, this is where as a seller of machine i'd sell out or the next big wave.

It is the greed in which people want to earn money that will make this system fall faster because everyone will invest in miners and coins and watch them rise. Which it will, no doubt, but at who's expense? You and me the regular investor. It's the same in stocks or our own market. Remember this - when everyone believes they can make lots of money, that is when you get worried. All it takes is one bomb (mass sell off) to start and then rest of the disaster starts. As many investors tell you - MANAGE YOUR RISK.

This has nothing to do with the end of bitcoin, but about things that are going to cause problems for the regular investor. I have been thinking about this for a while. Before starting, I assume the price of bitcoins has been lifted due to speculation.

First, the people selling asic machines in return for bitcoins are going to destroy bitcoins for a period of time. Think as a seller. You sell a bunch of miners for bitcoins and let the people attempt to reap the rewards of mining. Once price rises enough, you sell out and reap the benefits before miners can. What perpetuates the price rising is early adopters who spread word of their earnings bringing in more people who want to get rich. In order to sustain the price and continue rising, you need more people to invest in the currency and believe in it. once influx of people come, this is where as a seller of machine i'd sell out or the next big wave.

It is the greed in which people want to earn money that will make this system fall faster because everyone will invest in miners and coins and watch them rise. Which it will, no doubt, but at who's expense? You and me the regular investor. It's the same in stocks or our own market. Remember this - when everyone believes they can make lots of money, that is when you get worried. All it takes is one bomb (mass sell off) to start and then rest of the disaster starts. As many investors tell you - MANAGE YOUR RISK.

This...

People have been yelling "the end is near" a long time. I don't think you have anything to worry about.


 But then again, Im just a hopeless optimist who wants to believe the best in people.

Can you describe how you believe your ideal society should lice? What exactly do we need to abandon, and change to be like what you think we should be like?

It means that the first collectivist epoch (Pyrocene - the last 10'000 years) in the history of mankind is a tragedy, which is based on the institutionally brainwashed happy slaves who gave up their historic self-sufficiency in exchange to a 'life' as a divided slave worker within an unnatural construction of a monogamous pairing family, which they call a free life, while it is in fact an existence as a dependent dependant.

I have seen a few aspects of your past arguments that I didn't find coherent, but before judging anything I thought I would like you to explain the above quote as I see some ideas in there I don't understand.

thanks.

Happy, non-self-suffient slaves who believe to be free. This is the tragedy of this first collectivist epoch in the history of mankind (pyrozen) that began about 10'000 years ago and is ending now.

Hardly. It's completely historical.

It represents the transition from hunter-gatherer societies which invested and produced nothing, to farming communities which advanced culturally, societally,

Meh, let Zarathustra believe. He may even be right that tribal "natural" societies had no capital growth, and capitalism was a recent invention. He may even be right in saying that capitalism is a product of human collectivization,...

... if by "collectivization" he simply means "humans willing to work and trade together." But so what?

Things are a hell out a lot better now than they were when we were all stuck in forests. And there is no harm, or effect, of beliefs like his.

This post is a kind of addendum to the previous 'gold narrative' post. Specifically, we look at the question of debt and why it is not so much the size of the outstanding debt, but its productivity that gives rise to worry. Even though it is greatly hampered, the market economy - with perhaps 30% of the population effectively engaged in wealth creation - continues to deliver the goods in the long term. The capitalist mode of production has steadily increased the world's wealth, in spite of taxes, regulations and the abysmal failure of central economic planning by central banks. However, there is a limit to the depredations the economy can deal with. At some point a threshold is crossed, and capital decumulation begins. It may already be underway in Europe in fact. And what are governments doing in the face of these problems? Under pressure from the election calculus and the powerful bureaucratic caste, governments have decided on a 'flight forward': massively inflationary monetary policies, even more regulations and taxes, and all sorts of financial repression measures. This is the main reason to remain pessimistic in spite of the market economy's wealth creation powers and the ingenuity of the wealth generating class of entrepreneurs. In effect, the parasitic State is in the process of consuming its host. Modern-day intellectuals, most of whom are paid by the State far in excess of what their services would fetch in a free market, continue to defend statism even as the ship is sinking. However, people are beginning to wake up. With the advent of the internet, it is no longer possible for the establishment to control the flow of information and ideas.

....

In a nutshell the problem posed by the mountain of debt that has been built up over time is the following: it has misdirected investment and falsified economic calculation, which in turn has distorted the structure of production and led to the consumption of scarce capital (which is usually disguised as illusionary accounting profits) during the boom periods. Subsequently this became painfully obvious as the inevitable economic busts set in.

What's more, the duration and amplitude of the boom-bust sequences has continually grown, as after every failed boom, the amount of new credit and money thrown at the economy to 'rescue' it from the bust has been vastly increased. Ever larger additions to the amount of money and debt outstanding have resulted in ever smaller additions to economic output.

....

Under these given conditions, governments have apparently decided on a 'flight forward' that consists of a mixture of massive monetary inflation, the imposition of ever more stringent regulations and taxes and various (other) forms of financial repression. Bureaucracies continue to grow like weeds, and so does their output. Is it any wonder that we are looking at these developments with growing dismay and pessimism? We are not happy to have to adopt a gloomy outlook, especially as we are well cognizant of the world's potential and the power of human ingenuity (which is evident even in the severely hampered market economy we are saddled with). However, with governments continually chipping away at the market economy's wealth creation ability, the day may well come when capital accumulation ceases or even reverses (if it hasn't begun already: just look at Europe). To come back to the beginning: this is a major reason to invest in gold as a form of insurance (this is beside the fact that gold may also be simply be regarded as an alternative currency to store one's savings in). The fundamental backdrop is what it is; perhaps sound money and sound economic policies will be adopted again once the failure of the current course becomes so glaringly obvious that what is considered politically unpalatable today comes to be seen as the only way forward. However, we are not there yet by a long shot.