Bubbly bitcoin not worth the wager: investors

Buddahaid · 11-19-17, 03:48 AM

Quote:

Originally Posted by Skybird

...Today's investing is predatory, original investing was constructive, and cared for what one invested in....

It has always been predatory. The world moves on and different ways of making money will always open, and close. Everything, including your vaunted gold standard, is of arbitrary value.

Skybird · 11-19-17, 06:40 AM

There is no intrinsic value, but then there is. Its - a bit complicated.

https://smilingdavesblog.wordpress.c...trinsic-value/

I know that things have no intrinsic value. Only the value attributed by market participants. Still, as the short article explains, "Austrians" nevertheless talk of intrinsic value, but they mena something special with it. Its context-sensitive.

Read that article, its not long.

STEED · 11-19-17, 10:06 AM

Just another lie like I.O.U paper money.

ikalugin · 11-19-17, 11:04 AM

Quote:

Originally Posted by Skybird

There is no intrinsic value, but then there is. Its - a bit complicated.

https://smilingdavesblog.wordpress.c...trinsic-value/

I know that things have no intrinsic value. Only the value attributed by market participants. Still, as the short article explains, "Austrians" nevertheless talk of intrinsic value, but they mena something special with it. Its context-sensitive.

Read that article, its not long.

What is described as "intrinsic" value is more or less irrelevant in case of money in my opinion, as you cant eat gold.

(and I am not a big fan of Mises)

Skybird · 11-19-17, 01:04 PM

You cannot eat gold, but you an eat what you can barter for it. And in times of troubles, valuables of higher intrinsic value will always trade you more to eat than items of zero in troinsic value. Every inflation and hyperinflation, every time of big wars and collapse of state orders, is my witness. Since millenia.

Planned state economies cannot be maintained without inflationary created paper money. Politicians cannot corrupt their voiter pools without ifnlaitonary created paper money. Thats why the illusion is kept alive, and that is why politicians love Keynes and hate Hayek. The one was a big mouth, blender and imposter. The other was an intellectually brilliant and universally well-educated mind and a man of very, very wise heart. People like Keynes we have many today, the central banks create them by the legions. Men like Hayek we have almost none.

First pape rmoeny expeiment was run by the Chinese in the 12th century. It failed terirbly, and turned the kingdom into a war-hautned mess. Then for centuries nobody was dumb enough to try it again. When in more recnt times it was tried again and again, it always - ALWAYS - failed again. It must, for worthless pieces of paper with no intrinsic value will always return to their real intrinisc value, no matter what numbers the state prints on them: zero. One could as well cloaim that socialism-communism works if only this, if only that. It never has, and never will, because it cannot and never could in the first. If you design a plane but violate the laws of nature and physics all along, you must fail as well, and every time: it will never fly, no matter how much you tell people the opposite. The functioning of so-called market is as adamanetly predeterm ined, you cannot violate the laws of the makret and expcet to endlessly get away with it. The bills will be paid - down to every final nickle and every last dime.

Skybird · 11-19-17, 01:06 PM

You cannot eat gold, but you an eat what you can barter for it. And in times of troubles, valuables of higher intrinsic value will always trade you more to eat than items of zero in troinsic value. Every inflation and hyperinflation, every time of big wars and collapse of state orders, is my witness. Since millenia.

Planned state economies cannot be maintained without inflationary created paper money. Politicians cannot corrupt their voiter pools without ifnlaitonary created paper money. Thats why the illusion is kept alive, and that is why politicians love Keynes and hate Hayek. The one was a big mouth, blender and imposter. The other was an intellectually brilliant and universally well-educated mind and a man of very, very wise heart. People like Keynes we have many today, the central banks create them by the legions. Men like Hayek we have almost none. Or Mises. We only know that we could esperately need them, and should listen to them. Marx und Keynes only led us into disaster after disaster.

First paper moeny expeiment was run by the Chinese in the 12th century. It failed terribly, and turned the kingdom into a war-haunted mess. Then for centuries nobody was dumb enough to try it again. When in more recent times it was tried again and again, it always - ALWAYS - failed again. It must, for worthless pieces of paper with no intrinsic value will always return to their real intrinisc value, no matter what numbers the state prints on them: zero. Already noted by Voltaire in a famous quote. One could as well claim that socialism-communism works if only this, if only that. Historic fact is: it never has worked, and never will, because it cannot and never could in the first. If you design a plane but violate the laws of nature and physics all along, you must fail as well, and every time: it will never fly, no matter how much you tell people the opposite. The functioning of so-called market is as adamanetly predeterm ined, you cannot violate the laws of the makret and expcet to endlessly get away with it. The bills will be paid - down to every final nickle and every last dime.

Gerald · 12-01-17, 02:16 PM

Update: Breakingviews TV: Bitcoin going legit!!!

https://www.reuters.com/video/2017/1...videoChannel=1

Skybird · 12-01-17, 05:54 PM

More and more people realise that the paper money system is collapsing right now in slo motion, that it it counterfeit "money". And that politicians and government controlling what money is and what not, is part of the problem.

What many people do not relaise is that states, as long as püeople submissvely obey to their claimed authpority, can and will prohibit rivalling currency models if they threaten their core interests. Like they have banned gold, so they will ban crypto currencies. It is not difficult, since it is all digital, nothing material. Thats why government want to delete cash "money", so that people must go all digital - it means people are utmost vulnerable and completely defenceless to any measurements taken by the state.

If you want a trustworthy and solid money system you have to take politicians, states, central banks out of the equation and must destroy their options to have any influence or control on the definition and "creation" of money. In other words: you must end having a planned economy, because that is what state-defined money is: planned eocnomy.

Instead, we will get the opposite. Because the vast majority of people allow it.

Jimbuna · 12-08-17, 11:24 AM

Quote:

Originally Posted by Skybird

More and more people realise that the paper money system is collapsing right now in slo motion, that it it counterfeit "money". And that politicians and government controlling what money is and what not, is part of the problem.

What many people do not relaise is that states, as long as püeople submissvely obey to their claimed authpority, can and will prohibit rivalling currency models if they threaten their core interests. Like they have banned gold, so they will ban crypto currencies. It is not difficult, since it is all digital, nothing material. Thats why government want to delete cash "money", so that people must go all digital - it means people are utmost vulnerable and completely defenceless to any measurements taken by the state.

If you want a trustworthy and solid money system you have to take politicians, states, central banks out of the equation and must destroy their options to have any influence or control on the definition and "creation" of money. In other words: you must end having a planned economy, because that is what state-defined money is: planned eocnomy.

Instead, we will get the opposite. Because the vast majority of people allow it.

Was only a matter of time Sky perhaps?

Quote:

"Highly professional" hackers made off with around 4,700 Bitcoin from a leading mining service, a Bitcoin exchange has said.
The value of Bitcoin is currently extremely volatile, but at the time of writing, the amount stolen was worth approximately $80m.

http://www.bbc.co.uk/news/technology-42275523

11-19-17, 06:40 AM	#2
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,707 Downloads: 10 Uploads: 0	There is no intrinsic value, but then there is. Its - a bit complicated. https://smilingdavesblog.wordpress.c...trinsic-value/ I know that things have no intrinsic value. Only the value attributed by market participants. Still, as the short article explains, "Austrians" nevertheless talk of intrinsic value, but they mena something special with it. Its context-sensitive. Read that article, its not long. __________________ If you feel nuts, consult an expert. Last edited by Skybird; 11-19-17 at 10:39 AM.

11-19-17, 10:06 AM	#3
STEED Lucky Jack Join Date: Jan 2006 Location: Down Town UK Posts: 27,695 Downloads: 89 Uploads: 48	Just another lie like I.O.U paper money. __________________ Dr Who rest in peace 1963-2017. To borrow Davros saying...I NAME YOU CHIBNALL THE DESTROYER OF DR WHO YOU KILLED IT!

11-19-17, 01:04 PM	#5
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,707 Downloads: 10 Uploads: 0	You cannot eat gold, but you an eat what you can barter for it. And in times of troubles, valuables of higher intrinsic value will always trade you more to eat than items of zero in troinsic value. Every inflation and hyperinflation, every time of big wars and collapse of state orders, is my witness. Since millenia. Planned state economies cannot be maintained without inflationary created paper money. Politicians cannot corrupt their voiter pools without ifnlaitonary created paper money. Thats why the illusion is kept alive, and that is why politicians love Keynes and hate Hayek. The one was a big mouth, blender and imposter. The other was an intellectually brilliant and universally well-educated mind and a man of very, very wise heart. People like Keynes we have many today, the central banks create them by the legions. Men like Hayek we have almost none. First pape rmoeny expeiment was run by the Chinese in the 12th century. It failed terirbly, and turned the kingdom into a war-hautned mess. Then for centuries nobody was dumb enough to try it again. When in more recnt times it was tried again and again, it always - ALWAYS - failed again. It must, for worthless pieces of paper with no intrinsic value will always return to their real intrinisc value, no matter what numbers the state prints on them: zero. One could as well cloaim that socialism-communism works if only this, if only that. It never has, and never will, because it cannot and never could in the first. If you design a plane but violate the laws of nature and physics all along, you must fail as well, and every time: it will never fly, no matter how much you tell people the opposite. The functioning of so-called market is as adamanetly predeterm ined, you cannot violate the laws of the makret and expcet to endlessly get away with it. The bills will be paid - down to every final nickle and every last dime. __________________ If you feel nuts, consult an expert.

11-19-17, 01:06 PM	#6
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,707 Downloads: 10 Uploads: 0	You cannot eat gold, but you an eat what you can barter for it. And in times of troubles, valuables of higher intrinsic value will always trade you more to eat than items of zero in troinsic value. Every inflation and hyperinflation, every time of big wars and collapse of state orders, is my witness. Since millenia. Planned state economies cannot be maintained without inflationary created paper money. Politicians cannot corrupt their voiter pools without ifnlaitonary created paper money. Thats why the illusion is kept alive, and that is why politicians love Keynes and hate Hayek. The one was a big mouth, blender and imposter. The other was an intellectually brilliant and universally well-educated mind and a man of very, very wise heart. People like Keynes we have many today, the central banks create them by the legions. Men like Hayek we have almost none. Or Mises. We only know that we could esperately need them, and should listen to them. Marx und Keynes only led us into disaster after disaster. First paper moeny expeiment was run by the Chinese in the 12th century. It failed terribly, and turned the kingdom into a war-haunted mess. Then for centuries nobody was dumb enough to try it again. When in more recent times it was tried again and again, it always - ALWAYS - failed again. It must, for worthless pieces of paper with no intrinsic value will always return to their real intrinisc value, no matter what numbers the state prints on them: zero. Already noted by Voltaire in a famous quote. One could as well claim that socialism-communism works if only this, if only that. Historic fact is: it never has worked, and never will, because it cannot and never could in the first. If you design a plane but violate the laws of nature and physics all along, you must fail as well, and every time: it will never fly, no matter how much you tell people the opposite. The functioning of so-called market is as adamanetly predeterm ined, you cannot violate the laws of the makret and expcet to endlessly get away with it. The bills will be paid - down to every final nickle and every last dime. __________________ If you feel nuts, consult an expert.

12-01-17, 02:16 PM	#7
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Update: Breakingviews TV: Bitcoin going legit!!! https://www.reuters.com/video/2017/1...videoChannel=1 __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

12-01-17, 05:54 PM	#8
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,707 Downloads: 10 Uploads: 0	More and more people realise that the paper money system is collapsing right now in slo motion, that it it counterfeit "money". And that politicians and government controlling what money is and what not, is part of the problem. What many people do not relaise is that states, as long as püeople submissvely obey to their claimed authpority, can and will prohibit rivalling currency models if they threaten their core interests. Like they have banned gold, so they will ban crypto currencies. It is not difficult, since it is all digital, nothing material. Thats why government want to delete cash "money", so that people must go all digital - it means people are utmost vulnerable and completely defenceless to any measurements taken by the state. If you want a trustworthy and solid money system you have to take politicians, states, central banks out of the equation and must destroy their options to have any influence or control on the definition and "creation" of money. In other words: you must end having a planned economy, because that is what state-defined money is: planned eocnomy. Instead, we will get the opposite. Because the vast majority of people allow it. __________________ If you feel nuts, consult an expert.