Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 9912. (Read 26630474 times)

Being 75% Confident Bitcoin Price is $100,000 by End of 2021 equals being 100% Confident Bitcoin Price is $75,000 by End of 2021?
Serious question.
Asking for a friend.

Pompliano 75% Confident Bitcoin Price is $100,000 by End of 2021


https://cointelegraph.com/news/pompliano-75-confident-bitcoin-price-is-100-000-by-end-of-2021

https://twitter.com/APompliano/status/1146707848279150592

There are other ways to keep the shell game going. Governments can eat some of the debt. We keep hearing from the communist presidential candidates that they want to cancel out all student loan debt, for example.
We saw during the great recession the government ate the debt of the ((bankers)). Then, the central banks eat the debt.

In a sense, PMs are an illusion as well. That’s the thing you need to get around. I say perfect because it combines certain traits of good ‘money’ in a single system.

We never had better.

^The fact you used the word "perfect" to describe Bitcoin when every single thing about it is completely arbitrary shows there is no bounds to your delusion.  Is Ethereum "perfect money" too?  What about Dogecoin?  Casinocoin?  Kanyecoin?  All 6 million digital shitcoins ever made?  They're all imaginary, Keynesian widget confidence game scams.  They're not money, they're not resources, they're currencies.  All currencies start at a value of zero and return there.  They're pump and dump scams by very definition, or just outright fraud.

Bitcoin could have just as easily been created with exponentially increasing inflation starting at 1 billion coins per day and increasing to 2 billion the next day.  Then is it still "perfect money"?  Or a halving...every day.  Your bumper sticker slogans from liars like Nick Szabo and Andreas Antonopolous do not hold up to any scrutiny.  And yes, I'm aware they and you are bastardizing this term from Nash for the Triffin Dilemma.  Physical metals already solve the Triffin Dilemma.

How long should reality tell you otherwise before you reconsider?

6 yrs?
60 yrs?
6,000 yrs?

Just a question.

You mean you're copying and pasting a Nick Szabo lie - the same scammer who was trying to fool people into buying useless Ethereum.  He would lie about Ethereum but he would never lie about Bitcoin, right?  No matter how many times you scammers lie and claim Bitcoin is "money", it's not.  It's a currency.  It even says so in the name "cryptocurrency" for ultra-slow people.  

To be money something has to be a physical commodity with a use case relevant to humans.  This is why things like bags of rice were used as money in the past.  If something is not a physical commodity with a use case for humans, all you have is a confidence game scam where the bottom can drop out at any second.  Bitcoin does not have any of the other traits required of money either like fungibility or durability.  

The purpose of money is to transfer value from the present to the future.  If a box of iodized salt has a shelf life of 5 years, it can accomplish that task because the durability is a fixed variable.  Things like silver and gold do it a lot better since the expiration date is practically infinite.  Bitcoin, on the other hand, being both a confidence game and a digital Rube Goldberg machine full of millions of potential black swans that can cause it to die at any second, has no durability whatsoever and is incapable of reliably transferring value to the future even as good as lowly table salt.  It also has built-in, rent seeking middlemen and doesn't remove counterparty risk.

I can mostly follow your reasoning.
In short "No inflation = no interest = less use of banks because no interest gains = less loans because of money short = downfall of economy".
An economy can only function if money moves around.

You mean: ‘the world is guaranteed to move towards perfect money (e.g., Bitcoin)’.

No, I am not wrong.  Debt based fiat requires infinite growth to not collapse.  Without growth, interest rates would need to be set to zero, which is what we already have...and what Japan has had for a long time.  Interest rates are actually negative vs inflation.  Regardless, it's impossible for borrowing to not have a carrying cost.  Trying to nigger rig no carrying costs is just a temporary can kicking ploy that creates epic levels of malinvestment, which then implodes the system in a much bigger crash than having just left interest rates at their normal levels.

You then run into another problem.  The monetary unit literally is debt.  Interest generating loans and the currency itself (which also generates interest) are erroneously classified as assets and used as collateral when debt is always a liability and never collateral.  The prolonged 0% interest rate is guaranteed to create a malinvestment bubble which will bust and create massive deflation and collapse the system when it does from all crosslinked loans going bad because the banks cannot handle any form of deflation.

But back to the carrying cost aspect.  Fiat dollars are considered assets because if you have enough of them, they can (at some times) generate a lot of interest for you.  If interest rates are zero because growth is impossible due to peak working age demographic in every nation that matters, and peak energy use - because energy is what powers the economy and the world doesn't have infinite energy to give - then fiat is no longer an asset and then turns into a liability.  Once fiat is a liability, the world is guaranteed to go back to physical metals regardless in almost every aspect.

Funny video 
https://www.facebook.com/DankCoinMemes/videos/2255367118108623/

You cant forget about the usual tether printing of billions to pump the price which happens every time there is a bull run.
Looks like china pumped the price past $12k last night despite americains being too busy to trade their bitcoins.
Shooting own rockets to the moon.

I've checked when the discussion within the Gov startet to bring home all German Gold (second largest Gold reserve worldwide after United States of America) and it was in 2012. over 50% ALL of the German Gold was at this time in US (New York), UK (London) and France (Paris). Paris is emptied now but I dont know exactely about  London. And our friends in America disagreed about to inspect the Gold Reserve of the German Gold in New York.   but public discussions about that in the German press were suppressed.

EDIT: the plan was changed somehow to "not to bring all the German Gold back". Paris yes fully. New York some Gold and London nothing brought back.

https://translate.google.de/translate?hl=de&sl=de&tl=en&u=https%3A%2F%2Fwww.handelsblatt.com%2Ffinanzen%2Fgeldpolitik%2Fbundesbank-warum-das-gold-ueberhaupt-im-ausland-lagert%2F11151440-2.html


EDIT2: FT article and also the article above are to calm the ordinary people. speaking the truth in Bitcoin terminology: "Your Keys, Your Bitcoin. Not Your Keys, Not Your Bitcoin"

Interesting proposition but is it true?

Almost everything we have right now, including iPhones, the internet, tesla, google, led tv's, bmw etc etc all these exist because of inflation.

What really happens is, inflating FIAT currencies are stealing intellectual properties from those who invent them.

Overpopulation + inflation = cheap brain power for new inventions

If we were still living under the gold standard world population wouldn't be more than 2-3 billions rn probably but iPhone wouldn't exist neither.

While FIAT currencies  steal from people, people also have to steal from other people in order to survive, some call this "competition"

Mankind had to make that sacrifice. It seems the Tech is advanced enough.

Now Thanos (with yellow hair) seeks ways to delete that excessive population.

I was told  that the rate they got their gold back was exactly the same as the some US goldmine
* Probably a conspiracy story, but interesting *

And way more Tungsten than required.
Just ask the Germans (Gyrsur, are you around?) how long it took to take THEIR gold back to motherland.

EDIT:
Yes, tungsten filled Bullion is a real thing, even for expereinced traders: How A Manhattan Jeweler Wound Up With Gold Bars Filled With Tungsten


EDIT2:
Intreesting read on the topic: How Germany got its gold back

You are wrong. The US monetary system (and the EU too) is debt based and made to work optimally under ever increasing debt.
Check out the youtube video "The biggest scam in the history of mankind"

As long as people use and believe in the dollar they can keep printing (generating money). This requires politicians to do the acting game.

If you go back to the gold standard you will need to be accountable and have the gold on hand. Being accountable is not something politicians are good at ;-)
There is also a highly likely scenario that Fort Knox and the Federal Reserve have a lot less gold in stock than is advertised.

A Republican president posting on Twitter arguing America should convert to a communist command economy haha.



But it's not even his real motivation.  Debt is completely unserviceable and about to implode the whole system and he's giving some fake cover story for why he wants massive dollar devaluation.  The only three options are:

1)  Devalue the dollar to be literally worthless before the system blows up then everything goes on as normal with everyone still enslaved to the bankers and debt based fiat.  It would send some assets and physical metals to the moon and create hilarious levels of income equality.  Imagine the rich being 10x richer than now and people with no assets except some fiat becoming even poorer.  The nation would probably implode two days later.

2)  Go back to physical metals before the system blows up and revalue metals to the moon to cancel out the cascading deflationary collapse of all the banks from unserviceable debts

3)  Go back to physical metals after the system collapses and revalue metals to the moon to recapitalize the system

^ when 90 or 100%?   waiting passionately.....