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  1. #3151
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    Quote Originally Posted by puregravity View Post
    That military spending props up society, not the dollar. The stability of USD is a consequence of a stable and just society and general world peace.
    Military spending enriches the ruling class at the expense of everyone else. If you want to dedicate your life to hating on something maybe go after them instead of a potential equalizer.

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  2. #3152
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    Quote Originally Posted by stalefish3169 View Post
    Military spending enriches the ruling class at the expense of everyone else. If you want to dedicate your life to hating on something maybe go after them instead of a potential equalizer.

    Sent from my Pixel 3 XL using TGR Forums mobile app
    Hah! BTC is an equalizer! Of course it is!

    Lulz.

    The fuck are you smoking?
    focus.

  3. #3153
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    Quote Originally Posted by Mustonen View Post
    Hah! BTC is an equalizer! Of course it is!

    Lulz.

    The fuck are you smoking?
    Easy for you to say from the comfort of your first world lounge chair. Your opinion is much different than that of my Venezuelan friend, for which crypto has been the only thing enabling him to eat for months.

    Keep screaming at people driving by in Model Ts that horses are the only true method of transportation.

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  4. #3154
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    Quote Originally Posted by dunfree View Post
    You should really think of the inverse. What are the costs of a low-trust, high-risk, insecure, unstable society? Why do people who live in such societys park their money in higher trust, rule of law nations if they can afford to do so? Parasitically riding on the former, while paying for the latter, is a short term arbitrage.
    To understand the past it's useful. The relevance of the inverse goes down with the introduction of a trustless, secure, stable alternative though. There is software risk, regulatory risk, etc. But all in it's a choice between the current system which you know will fail, albeit slowly and one that might work very well despite having what's arguably a sharper risk profile.

  5. #3155
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    Bitcoin....who's gotten into it?

    Quote Originally Posted by stalefish3169 View Post
    Easy for you to say from the comfort of your first world lounge chair. Your opinion is much different than that of my Venezuelan friend, for which crypto has been the only thing enabling him to eat for months.

    Keep screaming at people driving by in Model Ts that horses are the only true method of transportation.

    Sent from my Pixel 3 XL using TGR Forums mobile app
    Really? His opinion is that BTC is an equalizer against the Venezuelan military?

    Right, Iím shaking my fist at BTC because itís too damn fast.
    focus.

  6. #3156
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    Quote Originally Posted by Bromontane View Post
    But all in it's a choice between the current system which you know will fail.
    False premise is false.
    focus.

  7. #3157
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    Quote Originally Posted by Mustonen View Post
    Really? His opinion is that BTC is an equalizer against the Venezuelan military?

    Right, Iím shaking my fist at BTC because itís too damn fast.
    I'm not sure if you're trolling or just dense. BTC is an equalizer against power imbalances. Is BTC perfect? Absolutely not; but it's a step in the right direction IMO.

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  8. #3158
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    Quote Originally Posted by Mustonen View Post
    Really? His opinion is that BTC is an equalizer against the Venezuelan military?
    It's tough to point out things that work well in a place like Venezuela. For some people it seems to help. It's not a silver bullet for the populace overall though. Short term, bitcoin is probably a net driver of inequality (it's really a stretch to argue the poor can speculate & capitalize on it - the exception being sex workers with access to money). Democratizing banking in the long term would entail a lot of infrastructure updates that could help equalize the power distribution in places like VZ, but that infrastructure is still very immature relative to legacy banking.

    There're probably a half dozen or more avenues of attack for crypto and digital money. All are in the early stages making it really gratifying for skeptics in search of inarticulate or lopsided bulls. But in the end, results speak for themselves. Market cap, use of the underlying technology, etc. I'm not sure how wise it is to pat yourself on the back while your counterparties are making money.

  9. #3159
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    Quote Originally Posted by stalefish3169 View Post
    I'm not sure if you're trolling or just dense. BTC is an equalizer against power imbalances. Is BTC perfect? Absolutely not; but it's a step in the right direction IMO.

    Sent from my Pixel 3 XL using TGR Forums mobile app
    How? How does it equalize against a power imbalance?

    Real world experiment: Offer your friend $50 in BTC, or 50 actual dollars. Like, greenbacks.

    See which he feels equalizes him against his oppressors.
    focus.

  10. #3160
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    Interesting, maybe it's being used more than I thought:

    https://twitter.com/krugermacro/stat...88027377278981

    Top ten crypto related sites worldwide via @krugermacro
    Click image for larger version. 

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  11. #3161
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    Quote Originally Posted by Mustonen View Post
    How? How does it equalize against a power imbalance?

    Real world experiment: Offer your friend $50 in BTC, or 50 actual dollars. Like, greenbacks.

    See which he feels equalizes him against his oppressors.
    I've literally paid for people to eat in Venezuela with crypto. But you can believe what you want and feel smug.

    What I'm referring to is not an overnight change. We're talking about a generation at least, maybe more. The ruling class isn't just going to give up its power overnight. What power is that? Endless QE for the rich and a perpetual war machine. The F-35 can barely fucking fly and dickwads like Jamie Dimon are going around claiming how recessions are good for him. It's easy enough for me to see what side I want to be on. If you're fine with the current system, than you're a part of the problem.

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  12. #3162
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    the word money is just a symbol of value, and quite necessary. for me, for you. we are lucky to have that. real wealth?; it comes from within.

    and the oracle is cool af btw. a student of dementia


  13. #3163
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    Quote Originally Posted by byates1 View Post
    the word money is just a symbol of value, and quite necessary. for me, for you. we are lucky to have that. real wealth?; it comes from within.

    and the oracle is cool af btw. a student of dementia

    Should be interesting when Justin Sun and Charlie Lee have lunch with WB. Sun is kind of a kook to me on most things, but bringing Charlie is a good call.

    In terms of diversification in a crypto portfolio I like 50/25/25. Fifty percent BTC, 25 big caps (approximately top 10), and 25% small caps. Heavier on BTC is okay, but definitely no more on alts.



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  14. #3164
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    sf you really think everyone who has money now is just going to agree to a reset and watch you become new overlord? thatís why i never got btc as a currency. the application of tech is obviously worthwhile, but seems separate to me.

  15. #3165
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    Quote Originally Posted by shroom View Post
    sf you really think everyone who has money now is just going to agree to a reset and watch you become new overlord? thatís why i never got btc as a currency. the application of tech is obviously worthwhile, but seems separate to me.
    I just said they are not going to give up power easily. The beauty of BTC is, it's not their choice.

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  16. #3166
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    i don't claim to understand much of any of it. but the reality is; most of us move numbers around on a screen all the time, everyone is looking at a hand held device. the sarcophagi of the soul.

    it's the same thing that has been around for millennia. only new, and different, but not really..

  17. #3167
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    do you really want to carry around chunks of metal.

    whatever gets you to sleep at night.

  18. #3168
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    the internet has happened. cool to be living now,

    i grew up w some money, i still have some money.

    the badass, outlaw, sk8ter in me has much respect for the internets own boy.

    opening up knowledge for everyone is my idea of blok.

    Last edited by byates1; 06-17-2019 at 11:10 PM. Reason: cocaine and hookers my friend.

  19. #3169
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    Pulled mine at 9300.

    Lets get a nice mid summer drop and Ill be playing on pure profit.
    "I don't pretend to have all the answers, and I think there's something to be said for that" -One For The Road

    Brain dead and made of money.

  20. #3170
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    So letís jump all in on the Lambos, so to speak, and envision a future where we DO migrate to the blockchain. Whether itís Bitcoin or One of the others, let say that a large portion of transactions and storage of wealth does become Crypto based.

    So banks take it in the ass and become much smaller players. Ok, so we have much less friction. That could be a good thing.

    So transactions are now P2P and hidden from view. What happens to taxing authority and public investments like roads and defense and what not? That all goes away and we are left with only private investment in infrastructure? Toll roads and whatnot? So we wonít be able to find wars with centralized monetary control, that could be good in theory, but what about if a bad actor like Russia funds an army to invade countries that now donít sponsor their own military because they are mostly crypto citizens? What happens to fund defense? crypto citizens spontaneously get together to fund a private army?

    What happens if the power grids go down? How does one get their wealth then? Who pays for maintaining the powder grid ?

    Yeah yeah it ainít happening soon, but if thatís the utopian future via crypto, how do these issues play?




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    Quote Originally Posted by Benny Profane View Post
    Keystone is fucking lame. But, deadly.

  21. #3171
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    Quote Originally Posted by Kinnikinnick View Post
    What happens if the power grids go down? How does one get their wealth then? Who pays for maintaining the powder grid ?
    You understand power grid failure would destroy society right now, right?

  22. #3172
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    Quote Originally Posted by Bromontane View Post
    You understand power grid failure would destroy society right now, right?
    It would be highly disruptive. But with accounts being centralized they could be brought on line with local power sources. But by design crypto is decentralized and if not enough nodes are powered up and performing transactions, then...


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    Quote Originally Posted by Benny Profane View Post
    Keystone is fucking lame. But, deadly.

  23. #3173
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    Quote Originally Posted by Kinnikinnick View Post
    It would be highly disruptive. But with accounts being centralized they could be brought on line with local power sources. But by design crypto is decentralized and if not enough nodes are powered up and performing transactions, then...
    I think the salient point is that moving money into the digital realm fully or more than it already is changes the risk profile for society & individuals. It's happening either way though, via central bank digitization (to facilitate NIRP) or via crypto (presumably to shift power away from faulty centralized models). So probably best to view it from the perspective of how do you individually prepare for a future where money is predominantly digital? Personally, I don't know yet. It's on my mind but I'm admittedly complacent.

  24. #3174
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    Fwiw, read this thread. The author is one of the smartest people in finance that I can find. His perspective is skewed for a few reasons so that adds color to what he's saying, but the distillation of that thread is really, really good.

    https://twitter.com/SuperMugatu/stat...38948710813699

    takeaways:
    - there are loads of idiots in this area
    - most coins are bullshit
    - btc is fine as a holding just manage your risk (or seek input from someone qualified)
    - many crypto companies are bullshit (riot blockchain, long island blockchain, etc)
    - never listen to anyone that explicitly tells you to buy something
    - try to follow a trend system with a stop if you are in btc

  25. #3175
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    Quote Originally Posted by Bromontane View Post
    how do you individually prepare for a future where money is predominantly digital? Personally, I don't know yet.
    I sure hope there are enough people out there who will completely reject the push for digitization of money, as I don't see how it can lead to anything but the further concentration of wealth. The poor in this country have a hard enough time accessing the banking system as it is right now, and it will only become less accessible to those on the margins as it becomes more digitized.
    Set my compass North, I got Winter in my blood.

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