Bitcoin jumps over $1000.00 in one day and central bankers short Gold/Silver

[old steel]

Hahahahah, keep doing what your doing old men, you will never get it till it buries you!

Print print print!!! LMFAO!

Is that all your got? LOL

Assets valuations must continue rising to support existing debt levels.

Debt levels must continue rising to support asset valuations.

There is no way out of the loop.

The mother of all bubbly bubble bursts is one black swan event away.


https://pbs.twimg.com/card_img/935874108566441985/kgguj_ru?format=jpg&name=600x314


Drink!

[singular_me]

lots of exuberance :)

[Cebu_4_2]

I regret not getting in. Back then I didn't understand it enough to even figure out the wallet, I lost my wallet once I did figure it out, and then the different coin bases. Would have probably lost whatever I put in anyways but still, I regret...

[old steel]

https://pbs.twimg.com/media/DP1DwZgWAAAktoK.jpg

9486

[old steel]

Priceless...

Katy Perry Asks Warren Buffett For His Thoughts On Cryptocurrency


https://pbs.twimg.com/card_img/935905316516126720/JxOc91JE?format=jpg&name=600x314

http://www.zerohedge.com/news/2017-11-29/katy-perry-asks-warren-buffett-his-thoughts-cryptocurrency


http://www.zerohedge.com/sites/all/themes/zero_hedge/images/bagicon.png (http://www.zerohedge.com/users/cheka)
cheka (http://www.zerohedge.com/users/cheka)>hedgeless_horseman (http://www.zerohedge.com/news/2017-11-29/katy-perry-asks-warren-buffett-his-thoughts-cryptocurrency#comment-10736788) Nov 29, 2017 11:44 AM (http://www.zerohedge.com/news/2017-11-29/katy-perry-asks-warren-buffett-his-thoughts-cryptocurrency#comment-10736867)

"did the fraud of omaha pop some viagra and bang the hollowed-out monarch slave?"

[old steel]

https://pbs.twimg.com/media/DPS8m_WXcAEOoDz.jpg

9490

https://pbs.twimg.com/media/DPS8oknW0AAfwsF.jpg


9491

[singular_me]

... with 78% of americans going paycheck to paycheck, we already know the billionaires

Jeffrey Tucker: Bitcoin Is Creating A New Civilization of Billionaires!

https://www.youtube.com/watch?time_continue=11&v=TL2otPcF9rA

keep this in mind: Richest 1% have more money than poorest half of world’s population, wonder how much they have invested into BTC

[singular_me]

here we go... governments love when we chase money, it allows them to control us


It's Over - Introduce Taxes And Limitations On Bitcoin
the-government-is-coming-for-your-bitcoin
http://www.zerohedge.com/news/2017-12-02/government-coming-your-bitcoin

[Ares]

here we go... governments love when we chase money, it allows them to control us


It's Over - Introduce Taxes And Limitations On Bitcoin
the-government-is-coming-for-your-bitcoin
http://www.zerohedge.com/news/2017-12-02/government-coming-your-bitcoin

LOL Good luck. What they'll end up doing is creating state competition. Japan legalized it, what's stopping someone who has significant crypto assets from leaving the country, renouncing their citizenship and never once telling them about their crypto assets?

Yeah nothing. The government can try and stop this but it is powerless to do so.

[Hitch]

here we go... governments love when we chase money, it allows them to control us


It's Over - Introduce Taxes And Limitations On Bitcoin
the-government-is-coming-for-your-bitcoin
http://www.zerohedge.com/news/2017-12-02/government-coming-your-bitcoin

This is big news for Bitcoin. This really deserves it's own thread.

[Dogman]

This is big news for Bitcoin. This really deserves it's own thread. The gov is eying ways to go after bitcoins and the like, been short blurbs on msm about it this week, mostly because of bitcoins run up ..

Gov comment is "we are looking into it"

The 10,000 question is how they can control sumpthing digital , with no real central location...?

You know gov's hates things it can not tax or get a piece of the pie...

[Hitch]

The 10,000 question is how they can control sumpthing digital , with no real central location...?

Well, there is a central location, these crypto currency exchanges, such as coinbase. According to the article Singular posted, .gov is going to force these exchanges to fork over personal information of users who do big transactions.

I hope Ares comments on that. I suppose if you have a personal bitcoin wallet, don't use the exchanges, you can get around the IRS tax grab.

I think .gov wants to accomplish two things here. Tap into bitcoin where they can to get some profits, and secondly set a standard to discourage people from using bitcoin to begin with.

[Dogman]

Well, there is a central location, these crypto currency exchanges, such as coinbase. According to the article Singular posted, .gov is going to force these exchanges to fork over personal information of users who do big transactions.

I hope Ares comments on that. I suppose if you have a personal bitcoin wallet, don't use the exchanges, you can get around the IRS tax grab.

I think .gov wants to accomplish two things here. Tap into bitcoin where they can to get some profits, and secondly set a standard to discourage people from using bitcoin to begin with. OK there is a problem with central holdings. So what if the gov really cracks down more than now on value exchanges, If no central exchanges then would it become a black market?

Then the gov probably go ape shit, if large amounts of value escapes their sticky taxing fingers and hands..

?

[Ares]

Well, there is a central location, these crypto currency exchanges, such as coinbase. According to the article Singular posted, .gov is going to force these exchanges to fork over personal information of users who do big transactions.

I hope Ares comments on that. I suppose if you have a personal bitcoin wallet, don't use the exchanges, you can get around the IRS tax grab.

I think .gov wants to accomplish two things here. Tap into bitcoin where they can to get some profits, and secondly set a standard to discourage people from using bitcoin to begin with.

That's essentially what they are wanting to do yes. But if you read further into the Senate Bill they are wanting you to voluntarily disclose that you have crytpo assests. Outside of voluntarily disclosing that information and if you do not use an exchange to cash out they will not have a way to determine wallet owners as being U.S. Citizens.

[Ares]

OK there is a problem with central holdings. So what if the gov really cracks down more than now on value exchanges, If no central exchanges then would it become a black market?

Then the gov probably go ape shit, if large amounts of value escapes their sticky taxing fingers and hands..

?

Look into WAVES platform, they have setup a decentralized exchange so there is no single point of centralization to get people's assets of information. This space is evolving much faster than they can even try to regulate.

[Hitch]

Outside of voluntarily disclosing that information and if you do not use an exchange to cash out they will not have a way to determine wallet owners as being U.S. Citizens.

This is what I need to figure out how to do before using crypto currencies. How to buy and sell them and fly under the radar. With gold, I simply take my coins to a local coin guy, he gives me spot price for them. I walk out the door with cash. He's a friendly welcoming face, whether I buy or sell PM's to him, and he knows me by my first name. A real mom and pop shop.

It would be great to be able to take a thumb drive with a crypto wallet into a local shop, buy and sell currencies that way, get cash if needed. Turn in cash for crypto's etc. All while knowing the person and shop, locally. The whole coinbase online exchanges to me just seem like numbers on a screen, and now with .gov having a target on them, makes me think the whole reason for crypto currencies to begin with is being lost.

[Ares]

This is what I need to figure out how to do before using crypto currencies. How to buy and sell them and fly under the radar. With gold, I simply take my coins to a local coin guy, he gives me spot price for them. I walk out the door with cash. He's a friendly welcoming face, whether I buy or sell PM's to him, and he knows me by my first name. A real mom and pop shop.

It would be great to be able to take a thumb drive with a crypto wallet into a local shop, buy and sell currencies that way, get cash if needed. Turn in cash for crypto's etc. All while knowing the person and shop, locally. The whole coinbase online exchanges to me just seem like numbers on a screen, and now with .gov having a target on them, makes me think the whole reason for crypto currencies to begin with is being lost.

You can invest in mining equipment, mine alt coins and get paid in Bitcoin Nicehash.com does that and they are trustworthy as far as I'm aware. They've been around for a while. Or you can install a smartphone wallet (Mycelium for Android not sure if it's available for iPhone but you could use the blockchain.info wallet for iPhone) and use localbitcoins.com to make trades locally.

There are options to fly under the radar similar to gold and silver transactions.

[EE_]

So when bitcoin goes to $100,000, the crypto market cap will be about $3.5 trillion dollars. If goes to $500,000 like some say, the market cap will be somewhere in the neighborhood of $17.5 trillion dollars.
What will that do to the banking system and who is holding that kind of cash while your bitcoins are floating somewhere in cyber space? Where is all that money?

To date, there are about 1 to 1.5 trillion US dollars in circulation.
The global total of currency in circulation is probably about 5, or 6 trillion.

Doesn't everyone that buys into crypto currencies have to plunk down cash, or are people buying with credit and taking loans out to buy?

[Ares]

So when bitcoin goes to $100,000, the crypto market cap will be about $3.5 trillion dollars. If goes to $500,000 like some say, the market cap will be somewhere in the neighborhood of $17.5 trillion dollars.
What will that do to the banking system and who is holding that kind of cash while your bitcoins are floating somewhere in cyber space? Where is all that money?

Your math is a bit off.

$100,000 x 16,717,562 = $1,671,756,200,00 (1.6 Trillion market cap at $100,000)

You have to take the circulating supply as that is what is currently in circulation, you can't use the number of 21,000,000 because there are still 5 million coins that are not mined.

$500,000 x 16,717,562 = $8,358,781,000,000 (8.3 trillion market cap at $500,000)

The banking system is not used to competition, so it will force them to be more efficient and honest or it will replace them as banks have a centuries long history of not being trust worthy.

Cash is just a medium of exchange, if crypto's replace cash (big IF, but this is hypothetical) then things will be valued differently. Say you order a Big Mac at McDonalds, it could be valued at 1200 Satoshi's (individual units of Bitcoin are called Satoshi's), and anyone holding a single Bitcoin would be a Billionaire, as they would have 1 Billion Satoshi's per a single Bitcoin.

[EE_]

Your math is a bit off.

$100,000 x 16,717,562 = $1,671,756,200,00 (1.6 Trillion market cap at $100,000)

You have to take the circulating supply as that is what is currently in circulation, you can't use the number of 21,000,000 because there are still 5 million coins that are not mined.

$500,000 x 16,717,562 = $8,358,781,000,000 (8.3 trillion market cap at $500,000)

The banking system is not used to competition, so it will force them to be more efficient and honest or it will replace them as banks have a centuries long history of not being trust worthy.

Cash is just a medium of exchange, if crypto's replace cash (big IF, but this is hypothetical) then things will be valued differently. Say you order a Big Mac and McDonalds, it could be valued at 1200 Satoshi's (individual units of Bitcoin are called Satoshi's), and anyone holding a single Bitcoin would be a Billionaire, as they would have 1 Billion Satoshi's per a single Bitcoin.

I looked at total market cap of all cryptos. They are all going up together. All represent global cash of the world.
By the time cryptos reach these levels, there may be 1,000s of new cryptos. It could mean a total market cap of 25 trillion, 5 X all the global currency ever printed.
The market cap of all cryptos as of right now is $349,250,672,023.

[Ares]

I looked at total market cap of all cryptos. They are all going up together. All represent global cash of the world.
By the time cryptos reach these levels, there may be 1,000s of new cryptos. It could mean a total market cap of 25 trillion, 5 X all the global currency ever printed.
The market cap of all cryptos as of right now is $349,250,672,023.

True, there are already 1300+ crypto currencies. But a lot of them are junk / scam coins which will quickly get weeded out.

[EE_]

True, there are already 1300+ crypto currencies. But a lot of them are junk / scam coins which will quickly get weeded out.

I really get the feeling cryptos are ushering in a global currency, with a global government/NWO. The elite already have everyone chipped. The only thing left will be to take possession of the world and rule it from a central state. Hopefully I'll have left the planet before that happens, but I don't think I will have.

"when we are successful, and we will be"

https://www.youtube.com/watch?v=txukr5zgHnw&t=8s

[Dogman]

I really get the feeling cryptos are ushering in a global currency, with a global government/NWO. The elite already have everyone chipped. The only thing left will be to take possession of the world and rule it from a central state. Hopefully I'll have left the planet before that happens, but I don't think I will have.

"when we are successful, and we will be"

https://www.youtube.com/watch?v=txukr5zgHnw&t=8s


9495

[Ares]

I really get the feeling cryptos are ushering in a global currency, with a global government/NWO. The elite already have everyone chipped. The only thing left will be to take possession of the world and rule it from a central state. Hopefully I'll have left the planet before that happens, but I don't think I will have.

"when we are successful, and we will be"

https://www.youtube.com/watch?v=txukr5zgHnw&t=8s

They could very well be planning for a global currency, but it would be one that they control. They don't nor can't control a decentralized currency whose public blockchain is available globally.

But there is nothing stopping them from creating their own. Whatever they create would have to compete with crypto currencies.

[singular_me]

competition is the death of society... I know we dont agree...

all countries work in concerto behind the curtain


LOL Good luck. What they'll end up doing is creating state competition. Japan legalized it, what's stopping someone who has significant crypto assets from leaving the country, renouncing their citizenship and never once telling them about their crypto assets?

Yeah nothing. The government can try and stop this but it is powerless to do so.

[Ares]

competition is the death of society... I know we dont agree...

all countries work in concerto behind the curtain

More bullshit with absolutely no proof.

[Neuro]

They could very well be planning for a global currency, but it would be one that they control. They don't nor can't control a decentralized currency whose public blockchain is available globally.

But there is nothing stopping them from creating their own. Whatever they create would have to compete with crypto currencies.
How much would it cost them to get a hold of 50% of bitcoin, 500 billion$? How about 90%? $10 trillion? At the height of the financial crisis, they gave the banks over $20 trillion. If they want to they could get it all. The benefits of having a printing press...

[Ares]

How much would it cost them to get a hold of 50% of bitcoin, 500 billion$? How about 90%? $10 trillion? At the height of the financial crisis, they gave the banks over $20 trillion. If they want to they could get it all. The benefits of having a printing press...

What do you mean? 51% of the network hash rate, or 50% of the market capitalization? Both of which come with different challenges on how to achieve it.

[Hitch]

Doesn't everyone that buys into crypto currencies have to plunk down cash, or are people buying with credit and taking loans out to buy?

This is a great question. Where is all this money going into bitcoin coming from? The average net worth of americans is only around $70,000. Basically, 7 bitcoins if they went all in with everything they've got. And, sadly, we are still one of the richest nations in the world with those pathetic numbers.

There's a massive college debt bubble ready to burst, an even bigger auto loan bubble. Housing prices are ridiculously high, another bubble. Is bitcoin financed by credit? The numbers, just don't sit and seem right. A lot of money is being thrown at bitcoin to prop it up so high, where is it coming from?

[Jewboo]

This is a great question. Where is all this money going into bitcoin coming from?

Corrupt Chinese Leaders offshoring their loot.

[Hitch]

Corrupt Chinese Leaders offshoring their loot.

That's another question I have. To sell a bitcoin for $10,000, there has to be a buyer right? What if the Chinese just dump all their bitcoins on the market to sell, could they crash the price, or would there just not be enough buyers to buy them all?

[Ares]

That's another question I have. To sell a bitcoin for $10,000, there has to be a buyer right? What if the Chinese just dump all their bitcoins on the market to sell, could they crash the price, or would there just not be enough buyers to buy them all?

The Chinese are currently buying / selling their Bitcoins at the Japanese / South Korea exchanges. If for some reason the Chinese wanted to dump all of their Bitcoins you would see a massive dump on those Exchanges and the price would temporarily drop. It did when China banned ICO's and Bitcoin trading within China and the Chinese rushed to the exits. It dropped in price for about a month and then ran back up again as it leveled out.