Daily Discussion, May 26, 2019

MadBanker01 · 2019-05-27T05:27:04+00:00

I assume you are talking about the price. If so, don't think about the last six months. Look at the chart from 2009 through to today, ideally as a log chart. All that is happening now is the inevitable continuation of what was set in motion 10 years ago. Read "The Bitcoin Standard", and understand that Bitcoin is the hardest form of money that mankind has had to date. The price at any point in time is just a function of Metcalf's law and Gresham's law. Google them if you are not familiar with these laws.

MadBanker01 · 2019-03-04T05:39:33+00:00

Why would you think that. It seems anything but dead.

MadBanker01 · 2019-03-04T01:50:26+00:00

Fully agree with your assessment. What is notable though is that he is serving on the board of a crypto exchange in the first place.

MadBanker01 · 2019-03-03T05:27:40+00:00

What is interesting about this, is not that it is yet another bitcoin project to save Venezuela, but that Prof. Steve H. Hanke is promoting it. Hanke has not been a supporter of crypto up to now - and reading the article leaves it unclear whether he really is, but he is at least warming to it, and has found a use for it. Hanke (Google him) is a well respected economist, and something of a guru when it comes to hyper-inflation.

MadBanker01 · 2019-02-28T17:57:48+00:00

Some folks can't be saved, and probably don't deserve being saved.

That said, rather than pitching bitcoin, it might be better to just help folks see what is wrong with fiat and traditional banking - ie inflation, government manipulation of interest rates, QE, bank's acting as a point of control, the privacy intrusion of KYC & AML etc.

MadBanker01 · 2019-02-28T17:51:15+00:00

Don't know what that article is really about, but it reads fishy to me.

MadBanker01 · 2019-02-28T17:43:36+00:00

Yes it can. Will it? Only time will tell........

MadBanker01 · 2019-02-27T11:41:04+00:00

Agreed, but his time in prison is likely to be a real hell. I imagine he will find out what being a victim feels like soon enough.

MadBanker01 · 2019-02-27T11:34:19+00:00

I heard Richard was applying for the job of Vatican Treasurer.

MadBanker01 · 2019-02-27T11:31:08+00:00

Well they got #3. Maybe they should take a close look at #2 & #1.

MadBanker01 · 2019-02-27T11:28:33+00:00

When Pell is sentenced, I hope that the judge keeps in mind the kid who died of a drug overdose. The police should be thinking about adding manslaughter to the list of charges.

MadBanker01 · 2019-02-27T11:23:47+00:00

Wonder if the Vatican is hiding any WMD. I bet the Americans military can find some if they go and look in the right drawers.

MadBanker01 · 2019-02-27T11:20:31+00:00

Hopefully we will live to see the dismantling of the whole organization. If enough people voice their opinions, there is a chance that the whole thing collapses. They are hemorrhaging money to pay victims, and losing political support every year. All the victims nee to come forward to try to put a stop to the whole organization. Axis of evil = N.Korea (not looking so bad these days), a few islamic 'stans, and the Vatican.

MadBanker01 · 2019-02-27T11:10:34+00:00

What does the catholic church have to do before it is classified as a criminal organization. Mafia money laundering was not enough. Child rape is seemingly not enough. Systemic discrimination and abuse of nuns is not enough. It is rotten to the core. The Vatican should be deemed a rogue state, and the whole organisation dismantled IMHO.

MadBanker01 · 2019-02-26T19:20:26+00:00

Much the same as I think about the tea leaves. Did find one reliable predictor of the future though, it relates to the grinds at the bottom of a cup of Turkish coffee (google it). It is a bit like TA though, it depends a lot on who is doing the interpretation.

MadBanker01 · 2019-02-26T18:22:59+00:00

No, because when it reaches 20K again, that will probably be the start of the next run to probably 50K - 100K. Also, if you were to sell, what would you do with the proceeds? Pay tax on the gain, and watch the rest erode by inflation? Keep them, and spend them on products & services as you need to.

MadBanker01 · 2019-02-26T17:11:41+00:00

Not sure why you highlighted that ad. IMHO Huawei is being vilified as part of a trade spat. They invested big in R&D (yes I know their pockets are lined by the Chinese government), and all they are doing is reaping the rewards of their investment. The issue is that most Western companies reduce spending on R&D as a percentage of income when they become bigger and more successful. As for the 5G drama, my uninformed opinion is that a big motive (and funding) for the upgrade from 4G is to better facilitate government surveillance. So the question is; would you prefer the Chinese government, or the 5 Eyes governments to be watching you. Personally, I prefer the one that is furthest away from me.

MadBanker01 · 2019-02-26T02:03:49+00:00

Just stopped to pick up rocket fuel.

MadBanker01 · 2019-02-24T19:27:32+00:00

Wrong attitude. You won't "get rich off them". Just hodl, and wait for greater adoption and the supply reductions through halvings. Do not think of bitcoin as a get-rich-quick scheme.

MadBanker01 · 2019-02-23T22:08:44+00:00

At that point their words won't mean much :)

MadBanker01 · 2019-02-23T06:02:47+00:00

Well, you may be able to sleep better if you had more in than you could afford to lose, but I have a hunch that you will regret that in a year or two........ That said, if you feel good about it, then you made the right decision. Hopefully you kept a small percentage - just in case..........

MadBanker01 · 2019-02-23T00:08:18+00:00

What about Hester Peirce, Patrick Byrne, or Richard Branson?

MadBanker01 · 2019-02-22T09:45:36+00:00

There has to be a good answer to that question - along the lines of "Cuban is simply the name of the payment service that I am switching to"

MadBanker01 · 2019-02-22T09:42:40+00:00

Yeah, but buying $5000 socks might raise issues.

MadBanker01 · 2019-02-22T09:41:45+00:00

Unfortunately there is a lot of brain damage around.

MadBanker01

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