2020 Collapse
- Thread starter TreasureHunter
- Start date
Jason1
Well-Known Member
Anyone who bought bitcoin at $100 or below, bitcoin is gold. Gold or not depends on whether you can lose money on it. Below $100, it is gold.
its not gold, lol, It can be transferred into fiat and then it can buy gold.
You cant get a piece of bitcoin and make a gold ring out of it, you cant make any thing physical with bitcoin, its virtual
again its dots and dashes that relies totally on electronic infrastructure to be able tobe traded. its actually more useless than cash out side of an ideal environment, eg no power.
can it make money with bitcoin trading? yes, that doesnt make it gold though.
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The biggest problem will be a solar flare that hits earth directly and zap all the computers, phones and erase magnetic data from drives and tapes. But no one will be thinking about cryptos when this happen. Hopefully the banks will have a backup that can withstand EMP hits. Yes, the chance of this happening is low, but a pandemic is suppose to be a once in 100-200 years avent?
TreasureHunter
Well-Known Member
'n' Bitchcoin just dropped -10,000 $ in a matter of hours. So much about stability. So much about value.
"Not much coin"
"Such no value"
"How much rip-off"
"Mega big loss"
"Not much worth"... the Doge would say
I keep saying it's a digital tulip mania held up by "itself", the is no economic rationale behind Bitcoin. NONE.
And all other coins are doing is to just add to the juice. They're merely businesses and why would you trust them if they launched a coin just to create their own "privately owned tulip mania".
But when the IMF/Fed launches their crypto-fiat, then we're going to live in Schwarzenegger's "Total Recall" world with a totalitarian Orwellian world.
You will own nothing. (and will not be happy). They will own you.
TreasureHunter
Well-Known Member
It is odd, but electricity blackouts are frequent in Europe nowadays.
Talking about owning you. Don't use facebook, twitter or one of those social media. I knew they were suspicious from day one. There's no free lunch in this world.
I've not experienced a blackout in 10 years, other than the ones caused by own my appliances or power overload. I think they have redundancies in the grid, sort of UPS. And there's no gap in the redundancy, so not even 1 second blackout.
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TreasureHunter
Well-Known Member
Came across these random interesting thoughts about Europe:
Besides that, the following is also true:
- through Brexit the EU has managed to lose one of their strongest and most stable member states (the UK)
- Brexit is already amplifying the Scottish nationalism, we'll see what implications this will have
- without the UK, France is going to be frustrated to be "together" with Germany and quite possibly the French might try
to sabotage Germany's powerful rise (there are signs that France is attempting to take-over the leading role after the UK
has left the EU)
- the EU could have been a real multicultural economic and cultural alliance, but without the political part, unfortunately
the EU acts as a centralized brute-force ruling above member states (bad idea), but the way the treat, Poland, Hungary
and Greece, I would not be surprised to see more countries leave the EU
- the EU is literally hindering member states in economic development (I won't go into details, but the individual member states
are not allowed to act independently when it comes to developing their own economic relations with China and the USA, they
are expected to listen to Brussels' orders)
- former communist states' workers are being discriminated against in the EU (assaults against Poles, Bulgarians and degrading
treatment are frequent in the western, richer member states), they don't have equal working rights, but the masses of
illegal migrants are living on the welfare (sometimes the financial help surpasses the salaries of Eastern European legal
workers), a thing that creates frustration in the Eastern Europeans vs the EU
- the EU is committing suicide from within through ideological warfare with the members and through mass illegal migration
generating social turmoil (BLM was nothing compared to what could occur in Europe)
- with the Russian sanctions, many European countries are finding it difficult to sell their products outside the EU
- the EU has so far ruined its relations with Russia, Turkey and recently with Israel and the UK as well, while it is on the
road to ruin its relations with China as well
- Biden will be the best ally of the Eurocrats, but the US and western Europe will become increasingly more isolated from
the rest of the world
- the rhetoric of US leftists is "peanuts" if you compare that to the EUrocrats: the latter are more keen on fascistic speeches, defamation
and they use false accusations on a daily basis, reason why the European Parliament has become a leftists' "Tower of Babel",
where they just whip the "slave" member states who don't submit to the "great European leftist aberration's"
- dissent is growing, political turmoil is constant in the EU, reason why euro-skepticism is growing among people
Besides that, the following is also true:
- through Brexit the EU has managed to lose one of their strongest and most stable member states (the UK)
- Brexit is already amplifying the Scottish nationalism, we'll see what implications this will have
- without the UK, France is going to be frustrated to be "together" with Germany and quite possibly the French might try
to sabotage Germany's powerful rise (there are signs that France is attempting to take-over the leading role after the UK
has left the EU)
- the EU could have been a real multicultural economic and cultural alliance, but without the political part, unfortunately
the EU acts as a centralized brute-force ruling above member states (bad idea), but the way the treat, Poland, Hungary
and Greece, I would not be surprised to see more countries leave the EU
- the EU is literally hindering member states in economic development (I won't go into details, but the individual member states
are not allowed to act independently when it comes to developing their own economic relations with China and the USA, they
are expected to listen to Brussels' orders)
- former communist states' workers are being discriminated against in the EU (assaults against Poles, Bulgarians and degrading
treatment are frequent in the western, richer member states), they don't have equal working rights, but the masses of
illegal migrants are living on the welfare (sometimes the financial help surpasses the salaries of Eastern European legal
workers), a thing that creates frustration in the Eastern Europeans vs the EU
- the EU is committing suicide from within through ideological warfare with the members and through mass illegal migration
generating social turmoil (BLM was nothing compared to what could occur in Europe)
- with the Russian sanctions, many European countries are finding it difficult to sell their products outside the EU
- the EU has so far ruined its relations with Russia, Turkey and recently with Israel and the UK as well, while it is on the
road to ruin its relations with China as well
- Biden will be the best ally of the Eurocrats, but the US and western Europe will become increasingly more isolated from
the rest of the world
- the rhetoric of US leftists is "peanuts" if you compare that to the EUrocrats: the latter are more keen on fascistic speeches, defamation
and they use false accusations on a daily basis, reason why the European Parliament has become a leftists' "Tower of Babel",
where they just whip the "slave" member states who don't submit to the "great European leftist aberration's"
- dissent is growing, political turmoil is constant in the EU, reason why euro-skepticism is growing among people
Of course there is. It's the same same rationale behind all sound money alternatives to centralised State issued fiat.
nicotineandcaffeine
Active Member
I was being sarcastic. Both are tools for adding value and earning. In themselves they are completely useless.
TreasureHunter
Well-Known Member
The risk with Bitcoin is tremendous. I never believed in it anyway.
And as people here on the forum say: Bitcoin will be good when hookers will take Bitcoin. So far, that's not the case
Everyone is afraid of the demise of the dollar. Some consider PM's unreliable.
Just consider the following horror scenarios for Bitcoin:
- electromagnetic "storm" or warfare, sun flares can eliminate your investments in a moment
- someone steals your wallet and transfers your "wonderful fortune" away
- you forget your wallet pass or lose your wallet
- a general ban on crypto usage/trading will put an end to your coins
- the Fed, the EU and IMF launch their own trackable cryptos, which makes Bitcoin's price plummet, as the masses turn to the new "big cryptos"
- your computer burns down with your wallet in it, but thankfully you have a backup on your external hard drive: too bad, the drive is corrupted and
you cannot recover your files (all is lost)
- even if it doesn't get totally banned, its usage gets narrower as more and more countries ban them
- more Bitcoin trading platforms will literally burn down or get shut down or get Bitcoins stolen (thus, more coins get lost)
- speculators keep bringing down the market
- people trading it or holding it will be persecuted
- one day you will wake up with Bitcoin going down, down, down to zero and you will find out: a foreign government (could be China, Iran, North Korea,
Venezuela, Russia... or all of them) has been buying (and holding) Bitcoin just to ditch their dollars and they just decided to sell the Bitcoins off
- one day the "tulip bubble" (just like and MLM bubble) will pop, as there will be a lower and lower supply of "fools" to get in
- something new, better will pop up and render Bitcoin useless and people will abandon it with tremendous losses
- the instability will keep on going and Bitcoin will remain a "roller-coaster" asset and thus, will never become a real currency
- Bitcoin will become widely traded, but the dollar will collapse so low, that even 40,000 $ worth-of Bitcoins will only buy you a pack of peanuts
(behold: gold was indeed the better choice )
- Bitcoin will be abandoned due to its tremendous use of electric power
- the Fed announces that they were secretly buying up Bitcoin and they own 80% of it, then they announce they'll destroy all of them
- they will simply ban all exchanges, ATM's and means to cash them out, as well as all transactions with them (you will not be allowed to use them,
so you will just end up with "toy money")
- Bitcoin 2.0 will appear and people will rush to it from the current version, at a high devaluation rate (just like hyperinflation), again: almost total loss
- it will never become widely traded, nor understood (just like women), people will simply get bored of it and the market will "die down"
And as people here on the forum say: Bitcoin will be good when hookers will take Bitcoin. So far, that's not the case
Everyone is afraid of the demise of the dollar. Some consider PM's unreliable.
Just consider the following horror scenarios for Bitcoin:
- electromagnetic "storm" or warfare, sun flares can eliminate your investments in a moment
- someone steals your wallet and transfers your "wonderful fortune" away
- you forget your wallet pass or lose your wallet
- a general ban on crypto usage/trading will put an end to your coins
- the Fed, the EU and IMF launch their own trackable cryptos, which makes Bitcoin's price plummet, as the masses turn to the new "big cryptos"
- your computer burns down with your wallet in it, but thankfully you have a backup on your external hard drive: too bad, the drive is corrupted and
you cannot recover your files (all is lost)
- even if it doesn't get totally banned, its usage gets narrower as more and more countries ban them
- more Bitcoin trading platforms will literally burn down or get shut down or get Bitcoins stolen (thus, more coins get lost)
- speculators keep bringing down the market
- people trading it or holding it will be persecuted
- one day you will wake up with Bitcoin going down, down, down to zero and you will find out: a foreign government (could be China, Iran, North Korea,
Venezuela, Russia... or all of them) has been buying (and holding) Bitcoin just to ditch their dollars and they just decided to sell the Bitcoins off
- one day the "tulip bubble" (just like and MLM bubble) will pop, as there will be a lower and lower supply of "fools" to get in
- something new, better will pop up and render Bitcoin useless and people will abandon it with tremendous losses
- the instability will keep on going and Bitcoin will remain a "roller-coaster" asset and thus, will never become a real currency
- Bitcoin will become widely traded, but the dollar will collapse so low, that even 40,000 $ worth-of Bitcoins will only buy you a pack of peanuts
(behold: gold was indeed the better choice
)- Bitcoin will be abandoned due to its tremendous use of electric power
- the Fed announces that they were secretly buying up Bitcoin and they own 80% of it, then they announce they'll destroy all of them
- they will simply ban all exchanges, ATM's and means to cash them out, as well as all transactions with them (you will not be allowed to use them,
so you will just end up with "toy money")
- Bitcoin 2.0 will appear and people will rush to it from the current version, at a high devaluation rate (just like hyperinflation), again: almost total loss
- it will never become widely traded, nor understood (just like women), people will simply get bored of it and the market will "die down"
^ complete nonsense as usual.
A lot of it is politics. They are just using big tech and the punks to get rid of Trump. Once the new dynasty is created, the army will be disbanded and the generals that won the war will be put in prison because they can threaten the new regime.
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Number 47
Well-Known Member
Part of me hopes he's right.
It'll make me feel better for missing out on those massive gains
The inflation will come once big tech blows up. Tech and cryptos have been storing all the cash. When big tech blows up along with cryptos, the cash will rush into commodities, real estate and metals. It’s a repeat of the dot com bubble blow up which is proceeded by a commodity boom in which silver shot up from $5 to over $40. This time round the bubble is many times bigger than in the 2000s so triple digit silver.
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nicotineandcaffeine
Active Member
Obviously we're not going back to pre internet days so tech's here to stay and its byproduct of zero inflation. US inflation numbers tomorrow are forecast at 1.5% max and that's with americans travelling and spending their christmas stimulus.
When it all goes quiet again buy some bitcoin with beer money. I basically started playing with $1000 when crypto was declared dead in 2015.
It'll make me feel better for missing out on those massive gains
When it all goes quiet again buy some bitcoin with beer money. I basically started playing with $1000 when crypto was declared dead in 2015.