Bitcoins

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Dauntless   100 GW

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Re: Bitcoins

Post by Dauntless » Dec 19 2019 1:01am

https://www.bloomberg.com/amp/news/arti ... operations

Well dang, looks like there's something I missed, but it's still a ways from $50 billion each day. That article WAS the plan, but it seems to have gotten bigger in the last few days. Not long ago the total cost was supposed to be $50 billion.

This is one of those 'I can only see what's reported' things, but this sounds like the kind of thing they could have done in late 2007 and spared us much of what came in 2008.

If you've caught Elizabeth Warren going a few months ago about this capitalist plot and calling for Soviet Union style KGB crackdown, this is that issue continuing. If I understand her, (ERRR, there's gotta be a better way to rephrase that) she makes accusations equivalent to the banks trying to tear down the Berlin Wall and putting a foot on the tanks that are trying to restore communist control.

What I see in this is that it further invalidates analysis on the national debt. if the government really did buy back over $50 billion of it's bonds every day for only $50 billion, in 8 months or less they buy back all of Obama's debt. For less that the face value of that debt. Although I assume they already own some of it. The consequences of all that would be inflation, which the Fed wants but can't get. But these things are so unclear; is this really just temporary? Like those temporary tax hikes? Are they trying to desensitize us for something bigger?

This is supposed to prevent QE4? This IS QE4.
Last edited by Dauntless on Dec 19 2019 5:05am, edited 1 time in total.
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Arlo1   100 GW

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Re: Bitcoins

Post by Arlo1 » Dec 19 2019 1:02am

goatman wrote:
Dec 18 2019 11:12pm
im really surprised leaders aren't being assassinated yet.
I am as well... But there is still hope yet ;)
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Re: Bitcoins

Post by goatman » Dec 19 2019 1:18am

QE to infinity was the golden jackasses saying, Arlo1/Nanaimo, don't tell anyone but theres gold in French creek. I heard the island is full of witches and warlocks or is that more like Victoria area

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Re: Bitcoins

Post by Arlo1 » Dec 20 2019 12:55am

goatman wrote:
Dec 19 2019 1:18am
QE to infinity was the golden jackasses saying, Arlo1/Nanaimo, don't tell anyone but theres gold in French creek. I heard the island is full of witches and warlocks or is that more like Victoria area
Lol. Never met a witch that I know of. But who knows.

Im to busy working my own magic here!
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Dauntless   100 GW

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Re: Bitcoins

Post by Dauntless » Dec 23 2019 10:47am

https://www.cnn.com/2019/12/23/africa/f ... index.html

So Bitcoin has none of the baggage but also none of the security of, say, the CFA. Something you probably haven't considered. Which is REALLY better among obscure currencies?
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Re: Bitcoins

Post by goatman » Dec 23 2019 9:38pm

the worlds cash is disappearing, bankers aren't sure where it went. The Wall Street Journal

Canada got rid of the penny, you had so long to turn it in and after that it was worthless.

what if the USA redesigned all their bills and said you have 1 year to turn in your old bills and after that theyre worthless

crypto would explode

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Re: Bitcoins

Post by Dauntless » Dec 23 2019 11:25pm

https://www.google.com/amp/s/www.wsj.co ... 1576184491

That's such a fun article. They left out horded by Latin American drug cartels. When their drug smuggling subs sink on the way home, cash is lost.

People have panicked about a government plot to change the dollar, but they'd have to print a lot of money in advance. The guy who was executed in the Lindbergh kidnapping was caught with the out of date money they used to pay the ransom, though he may well have been telling the truth about getting it from a guy who disappeared, as that was the prime suspect all along.
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Re: Bitcoins

Post by TheBeastie » Dec 23 2019 11:34pm

Listening to the latest Peter Schiff was quite entertaining as he covered a lot of topics, many of them down the later half that have nothing to do with money/gold/financials and if you were of the wrong background would probably get you suspended on YouTube https://youtu.be/RiPOlIa9MlI?t=2911 , but I have noticed a lot "remotely famous" people have been doing this on their YouTube channels lately... :pancake:
https://www.youtube.com/watch?v=RiPOlIa9MlI


The thing about Peter Schiff's point of view is that its pretty interesting and I think most importantly harmless (it's hard to argue owning some gold is a dumb thing to do) but I believe the real issues are far more complicated than what Peter wants to present.

If you look at John Kicklighter's point of view who is a "Chief Strategist", he goes over the details of all the major currencies/gold/commodities on a level a lot of people probably can't comprehend.
The main thing John frequently points out is that all the major countries of the developed world do "QE" for example he goes over how Japan has printed money to the point they have lost all credibility https://youtu.be/zLsZ-VtPlOg?t=556 and is listed at the bottom of this chart in "effective monetary policy"

All the major economies are quietly in printing "wars" without admitting they are doing that, they have been doing it for years and gold still struggles to do little more than double over a 10 year period.
Some of the things that helps a major country keep its currency well-valued against its peers is merely having a wide range of trading goods, for the USA it's from technology MS/Google/Intel to having a lot of boring commodities like coal.
The other strength that keeps a currency to continue to hold its value no matter what is transparency, the USA country/government is generally the most transparent in the world by far, everyone can watch Donald Trump on TV getting the worlds biggest colonoscopy via the FBI abusing their power to probe him on links to Russia etc.

No other country comes close to this level of openness/transparency, look at Russia for example, they shoot down a passenger airliner killing 298 civilians mostly from the western world and Putin and their top government officials continually forever lie their arses off about it and answer to no one, you can't trust that countries government-controlled currency when they do such things, so you can see the USD/Euro continually being valued higher than the Russian Ruble despite everything https://en.wikipedia.org/wiki/Russian_r ... ange_rates
https://www.bbc.com/news/world-europe-48691488
https://www.washingtonpost.com/opinions ... story.html
https://en.wikipedia.org/wiki/Malaysia_ ... _Flight_17
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Re: Bitcoins

Post by goatman » Dec 24 2019 2:40am

the us dollar was gold backed then oil backed and now its nuclear backed.

drugs were my first thought too, just think if you couldn't prove where your cash came from the IRS would just tax you 25 percent in exchange for no criminal charges. it would be a huge cash windfall. theres a trillion dollars in just 100 dollar bills missing.
so lets say the banks are missing physical cash. its probably people freaking out thinking theres a crash coming and if banks close your screwed so take your cash out and stash it. if you have $100 in the bank, the bank then takes $90 of your cash and loans it out but if you take your cash out the bank doesn't have cash to loan out so now they need the repo loans.
physical golds disappearing off the markets too. I quit trying to follow the paper to physical when it hit 1000 paper to 1 physical. gold hasn't doubled in 10 years, it was $1900 ounce in 2008 and paper to physical was around 200 to 1 so gold should really be atleast $10,000. and at 200 to 1 the paper was backed by 2 years of future production that hasn't been mined yet at a mining cost of $1200 a ounce.

as long as they don't start making more bitcoin, bitcoin should only gain.

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Dauntless   100 GW

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Re: Bitcoins

Post by Dauntless » Dec 24 2019 10:53am

I think the fact that there's more and more nonBitcoin will take up the slack. IF the fantasy continues. Did you know that the term 'Millionaire' comes from a French investment hoax? A millionaire was an investor who had realized outrageous profits from the investment THEY STILL OWNED. . . .
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Dauntless   100 GW

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Re: Bitcoins

Post by Dauntless » Dec 26 2019 11:10am

https://www.cnn.com/2019/12/26/investin ... index.html

Another $2 billion gone? Did it go into crypto?
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Re: Bitcoins

Post by goatman » Dec 27 2019 9:47pm

yahoo has a story. Canada is removing 5 bills from legal tender status, the $1, $2, $25, $500 and $1000 dollar bill. if you have them turn them in before its too late and theyre worthless. the 1,2,25 bills are more of a collector item but the person with the 500 and 1000 bill will probably get put on tax audit list.

I think I was just talking about the US might do that to get the $1.5 trillion in bills thats missing.

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Dauntless   100 GW

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Re: Bitcoins

Post by Dauntless » Feb 08 2020 8:54pm

As goes the virus, so goes.Bitcoin.

https://www.cnn.com/2020/02/01/investin ... index.html
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Re: Bitcoins

Post by stan.distortion » Feb 09 2020 8:13am

You have to be really careful with news regarding Bitcoin, especially from the big outlets. It's a total minefield of distorted facts and often outright lies, especially with news aimed at investors/speculators. Be especially wary of breaking news about Bitcoin in China, fake "China bans Bitcoin" articles have been used so many time to spook speculators that it's become a running joke. If anyone's looking for reliable expertise on cryptocurrency then Erik Voorhees is probably one of the most clear sighted folks out there. Oh and Peter Schiff is a dick ;) If it doesn't fit with his way of viewing things then it doesn't exist, the guy should be in politics.

markz   100 GW

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Re: Bitcoins

Post by markz » Feb 11 2020 12:24pm

China is where all the cryptocurrency farms are.
Cheapest electricity on planet earth!

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Re: Bitcoins

Post by John in CR » Feb 11 2020 2:17pm

markz wrote:
Feb 11 2020 12:24pm
China is where all the cryptocurrency farms are.
Cheapest electricity on planet earth!
While 7.8 cents per kwh is quite cheap, it's not the cheapest. I remember DoctorBass saying he paid about 2cents/kwh in Canada in an area with surplus hydroelectric.

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Re: Bitcoins

Post by Dauntless » Feb 11 2020 3:27pm

The cheapest overnight I've known is FREE, in the Texas Hill Country with an abundance of wind power and windy nights in mostly agriculture. Not sure if that still goes on.
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Re: Bitcoins

Post by markz » Feb 14 2020 3:27pm

Quebec is a bit different then the rest of Canada thats for sure!

John in CR wrote:
Feb 11 2020 2:17pm
While 7.8 cents per kwh is quite cheap, it's not the cheapest. I remember DoctorBass saying he paid about 2cents/kwh in Canada in an area with surplus hydroelectric.

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Re: Bitcoins

Post by Arlo1 » Feb 29 2020 4:33pm

goatman wrote:
Dec 27 2019 9:47pm
yahoo has a story. Canada is removing 5 bills from legal tender status, the $1, $2, $25, $500 and $1000 dollar bill. if you have them turn them in before its too late and theyre worthless. the 1,2,25 bills are more of a collector item but the person with the 500 and 1000 bill will probably get put on tax audit list.

I think I was just talking about the US might do that to get the $1.5 trillion in bills thats missing.
Where the hell did you get this info from? $1 and $2 have been replaced with coins for something like 20 years. The other 3 never existed. But if you have a $1 or $2 they are still worth their printed value. But when the bank sees them they remove them from circulation.
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Dauntless   100 GW

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Re: Bitcoins

Post by Dauntless » Mar 01 2020 12:57am

Arlo1 wrote:
Feb 29 2020 4:33pm
goatman wrote:
Dec 27 2019 9:47pm
yahoo has a story. Canada is removing 5 bills from legal tender status, the $1, $2, $25, $500 and $1000 dollar bill.
Where the hell did you get this info from? $1 and $2 have been replaced with coins for something like 20 years. The other 3 never existed. .
Just a really old link, from back when Yahoo was something
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Re: Bitcoins

Post by goatman » Mar 01 2020 5:11pm

Arlo1 wrote:
Feb 29 2020 4:33pm
goatman wrote:
Dec 27 2019 9:47pm
yahoo has a story. Canada is removing 5 bills from legal tender status, the $1, $2, $25, $500 and $1000 dollar bill. if you have them turn them in before its too late and theyre worthless. the 1,2,25 bills are more of a collector item but the person with the 500 and 1000 bill will probably get put on tax audit list.

I think I was just talking about the US might do that to get the $1.5 trillion in bills thats missing.
Where the hell did you get this info from? $1 and $2 have been replaced with coins for something like 20 years. The other 3 never existed. But if you have a $1 or $2 they are still worth their printed value. But when the bank sees them they remove them from circulation.
the old bills, I have some in photo albums, the bank wont take them, kind of like our penny. the bank wont take them any more. when my grandfather died he had old money stashed and hid all over. Canada is worried about the counterfeiting of old money.

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Re: Bitcoins

Post by Punx0r » Mar 01 2020 6:43pm

Not even directly through the national bank/ note issuer? Our countries have fairly similar institutions and in the UK you can exchange any withdrawn bank note going right back to 1694...

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Re: Bitcoins

Post by goatman » Mar 02 2020 8:24pm


Punx0r   100 GW

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Re: Bitcoins

Post by Punx0r » Mar 03 2020 3:21am

From that link:

"In short, removing legal tender status means that some older bank notes will no longer have the official status of being approved for payments of debt. Essentially, that means you will no longer be able to spend that 1935 $25 bank note to buy items at a store. But these bank notes will not lose their face value. If you have any of them, you will still be able to take them to your financial institution or send them to the Bank of Canada to redeem their value."

That sounds like exactly the same system as the UK, with the exception that you can also exchange them at your "financial institution" (bank) rather than having to deal directly with the Bank of England/Canada.

It seems a corollary of the above is that currently every bank note ever issued in Canada, no matter how old, is still legal tender!

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Re: Bitcoins

Post by markz » Mar 09 2020 1:08pm

Are crypto-currency rising now that a full-on hysteria "pandemic" is happening and tons and tons and tons of people are being hit hard by coronvirus with a 2% kill rate of the weak, still early so it may over take the flu kill rate.

Gold rising - https://www.forbes.com/sites/timtreadgo ... 7baa2d7d15

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