JavaScript is disabled
Our website requires JavaScript to function properly. For a better experience, please enable JavaScript in your browser settings before proceeding.
One theory (makes sense to me) is that BTC is allowed to continue functioning because it conditions the public to use a true cashless currency. But government(s) must control a currency for taxation reasons, so at some future point they will either pull the plug on BTC and replace it with their own, or, take control of it and use it as the foundation for their cashless system.
I cannot agree more EZ... just as they did with Ebay and Paypal.
 
This surreal and totally weird world we live in continues to amaze me (and provides a continual source of entertainment)...

"All we can do at this point is sit back in wonder and amusement as we hit the pinnacle of monetary confusion, whereby the UK Royal Mint, willing to take full advantage of retail confusion, will mix hard, soft and digital currency, and produce a product... that is locked away on an island that belongs to the UK."

UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins | Zero Hedge
 
Speaking of apples, I don't think any worthy financial advisor would advise bitcoin in any diversified portfolio.. how do you like them apples?
 
No and I don't avoid dollars nor do I see any reason to avoid Bitcoin.

Here's a simple reason: if it's not in your hands, it's not yours. Like the former Federal Reserve silver or gold certificate currency ("guaranteed" to be redeemable in actual gold or silver) , it's only a digital PROMISE that it's yours. As THAT former promise was reneged upon in 1971 by our own federal government, one can certainly expect similar promises of ownership to vanish under duress, from confiscation, or just when convenient. A government cannot nationalize or confiscate physical gold/silver it doesn't KNOW about... but emptying digital accounts under government policies is easy peazy... take a look around the world and watch it happening as we speak. You're CERTAIN that it's yours, but ask this one question; what is your recourse when you discover it isn't? Zero.
 
So you avoid dollars too?

I do! As the dollars roll in, I have for years converted them to hard assets - gold, silver, supplies - only keeping enough dollars on hand to keep the everyday machine running... until that machine no longer ACCEPTS the dollar because it became worthless. It's only dirty paper, conceived in economic control conspiracy and based on a lie.
 
Sounds kinda like a pyramid scheme to me.
If you had invested $20.00 when it was first conceived in 2009 then you would now have something like $20.000.00 (more or less.)

Here's one way to explain it.

The Greater Fool Theory:

The greater fool theory describes a situation where the price of an object is not being driven by intrinsic values, but by expectations that irrational bidders for limited assets or commodities, will set the price.
A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.
Or, one may rationally have the expectation that the item can be resold to a "greater fool" later.

In real estate the greater fool theory can drive investment under the expectation that prices will rise, or force need-based-buyers to out bid irrational or ill-informed buyers.
A need-basis can be for basic housing or for organizations fulfilling exigent commercial interests.
This phenomenon may also occur among banks offering real estate financing.

In the stock market greater fool theory (also called survivor investing) is the belief held by one who makes a questionable investment,
with the assumption that they will be able to sell it later to "a greater fool"; in other words, buying something not because you believe that it is worth the price, but rather because you believe that you will be able to sell it to someone else at an even higher price.

Art is another commodity in which speculation and privileged access drive prices, not intrinsic value.
In November 2013, hedge fund manager Steven A. Cohen of SAC Capital is selling artworks at auction which he only recently acquired through private transactions.
Works include paintings by Gerhard Richter and Rudolf Stingel and a sculpture by Cy Twombly.
They are expected to sell for up to $80 million. In reporting the sale, the New York Times notes that,
"Ever the trader, Mr. Cohen is also taking advantage of today's active art market where new collectors will often pay far more for artworks than they are worth."
 
The dollar began backed by something worthwhile.
Then gradually became worth less.
The bitcoin began from no worth at all except for rhetoric and will remain totally worthless.
Its value is total illusion.
The only people that will profit are the ones that started it,
A complete ponzi scheme.
 
The dollar began backed by something worthwhile.
Then gradually became worth less.
The bitcoin began from no worth at all except for rhetoric and will remain totally worthless.
Its value is total illusion.
The only people that will profit are the ones that started it,
A complete ponzi scheme.
It did, backed by gold and silver by gold and silver certificates. However, as it turns out, even THIS is no guarantee of value... unless you trust your government to actually only print paper currency which is ACTUALLY backed by gold and silver. As it turns out, our government was printing gold and silver certificates WITHOUT the reserves of gold and silver to back them... and sending them overseas. When the other countries figured it all out, they began sending those dollars back to redeem them for gold. Under the Nixon regime, America quickly lost 50% of it's gold reserves as a result. Had it continued, the very first dollar NOT redeemable in gold (because it was all gone, due to printing them far in excess of gold reserves) would have exposed the dollar as a fraud and collapsed our monetary system worldwide. Nixon was forced to therefore take us OFF the gold standard to prevent such a disaster in 1971. ALL ALL ALL paper currency, whether outright fiat or gold backed, is an invitation to fraud. Only REAL money i.e. gold and silver coins in place of paper can prevent this from occurring. Gold and silver cannot be printed or multiplied falsely... they are of a finite quantity and hold their ACTUAL value within the PHYSICAL COIN. Governments HATE gold and silver, because they limit government spending and prevent DEFICIT spending, the bane of our country. Imagine an America with absolute limits on government spending; no wars for profit, no votes purchased with entitlement programs, no bloated contracts for the corporations to lobby for (purchasing our legislature) and no stealing your wealth/savings/purchasing power with inflation due to printing presses running overtime. No "quantitative easing", no bailouts. Demand a return to REAL MONEY, not CURRENCY.
 
I am sure our owners, the global bankers, will assist in the collapse of Bitcoin; that is unless they have something to gain from it like they do with their fiat currencies.

Frankly I don't know enough about Bit-Coin to really say anything good or bad about it specifically.

Personally, I'd rather have my hands on something with intrinsic value. PMs, a chainsaw, chair, a flashlight ... something real.

I don't care if silver goes to $5/$1000 or Gold to $50/10000, it will always be worth SOMETHING. That makes it more solid than the dollar or bitcoin which will eventually be worth NOTHING.
 
I am sure our owners, the global bankers, will assist in the collapse of Bitcoin; that is unless they have something to gain from it like they do with their fiat currencies.

Frankly I don't know enough about Bit-Coin to really say anything good or bad about it specifically.

Personally, I'd rather have my hands on something with intrinsic value. PMs, a chainsaw, chair, a flashlight ... something real.

I don't care if silver goes to $5/$1000 or Gold to $50/10000, it will always be worth SOMETHING. That makes it more solid than the dollar or bitcoin which will eventually be worth NOTHING.

What I stated came directly from a Good conservative global economist that resides in Canada and does his reports for corporations in the US. If there were any potential in that bitcoin at all he would say so.
I have never known his analysis to be wrong. A future in-law that I trust completely.
As for me, I have zero vested interest in whether it would succeed of fail. Just telling people to beware.
 
As we move forward, deeper into the crisis here in the US, I can see people electing to conduct transactions in FRNs, BTC or similar electronic currency, metals, or whatever else they choose. That isn't a bad thing (while it lasts). Being the coin of the realm, most transactions will use FRNs (paper or digital) of course, but maybe it is a good thing that some people are beginning to think 'outside the FRN box.' I can't imagine thinking of BTC as a store of value though. A means of exchange - sure, a store of value - no.
 

Upcoming Events

Tillamook Gun & Knife Show
Tillamook, OR
"The Original" Kalispell Gun Show
Kalispell, MT
Kids Firearm Safety 2 Class
Springfield, OR
Teen Rifle 1 Class
Springfield, OR

New Resource Reviews

New Classified Ads

Back Top