All time high on gold!

[Ares]

The whole world will be digitized. The main issue is learning how to deal with crypto. These technologies become more secure with wider adoption.

I also believe insuring crypto will be how the banks survive as things move to crypto. They'll be like insurance companies for crypto.

It's actually far less risky with crypto these days. Just get a wallet like Exodus or Atomic Wallet and you should be fine. If you want to be extra safe export your private keys and print them up and store them where you store your Gold/Silver. One of my favorite things with crypto is you can literally memorize your private keys and have money in your MEMORY. Like literally the key to your wealth stored inside your mind. That's insane. You cant sneak your money out of the country with Gold/Silver easily, but what stays in your mind is still there until you forget.

I think Gold/Silver will be worthless as space travel kicks into gear and automated robot space mining becomes a thing, but that's beyond the years of many on this forum.

Gold and Silver should be fine, but I do believe this is the last major bull run for them. Seriously buy stuff and cash out this time.

I think we will have another major bull run for cryptos in 2024-2026 based on the stock to flow model which has already forecasted the current bull run:
https://digitalik.net/btc/

Maybe for international commerce, and bank wires. Crypto to me after the years I've been in it. I did jump on the crypto bandwagon around the time Shami announced, if not a little after. I also mined almost 1000 Litecoins with a rig I built back when they were easy to mine with a GPU miner.

Sold most of them when they reached $20 (that was a HUGE gain at the time) wished I would of held on to them now, especially when I saw LTC reach $300 back in 2017 with the last bull run. I still have some BTC, but lost a lot when Cyptsy went under and Vern fled off to China with probably over 50k worth of my crypto. That was my fault, I was stupid and left my coins there with a false sense of security that it was a U.S. based exchange. Expensive lessons learned. I'm older and wiser now, but I've also had time to reflect with my time in Cryptos.

They will NEVER be mainstream due to the difficulty in use for average people. I've witnessed it myself even in my day job at one of the largest tech companies in the world. Decentralized blockchains also have problems with scale. To get anywhere near Visa's capabilities regarding transactions per second / minute requires a lot coordination and resources, now times that by a billion if you want a global population using the crypto and you see the problem.

Most people do not understand cryptography and that's all crypto is with a blockchain acting as a ledger of transactions and what address has what amount etc. At it's very basic form its really very simple, but the complexity comes in when signing a transaction and knowing the difference between a Public and Private key. They look similar to the untrained eye, and if you accidently give someone the private key instead of the Public key, then your wallet will be empty in a matter of minutes.

That's the other problem with crypto there is absolutely no reversing the transaction. You can do smart contracts to lock up payment until a product arrives or service is completed and both parties complete the contract. But that runs into a problem if you bought something and complete the transaction, take your new toy home, and find out the previous owner lied and it wasn't new, its a refurb etc, you can dispute that with Visa, or Paypal, but with Crypto you're shit out of luck.

As it stands now, crypto is still more of a speculative vehicle with many different coins and projects trying to one up each other in usability. Bitcoin even with Lightening network will NEVER be able to complete thousands of transactions per second, in the last bull run it could only do some 200,000 transactions in a day and there was literally days worth of backlog transactions. So Bitcoin definitely has a problem with scale.

I like Crypto as much as the next guy, but as it stands I trust physical precious metals more than I do Crypto from what I've learned in my time in crypto, and how I've seen even technically savvy individuals struggle to understand or use them.

[EE_]

The U.S. government couldn’t shut down the Internet, right? Think again
Opinion by Jessica Rosenworcel
March 8, 2020 at 4:14 p.m. EDT

Jessica Rosenworcel has been a member of the Federal Communications Commission since 2012. This article is adapted from her keynote remarks at this year’s State of the Net Conference.

In the age of the always-on Internet, what happens when a government decides to turn it off? For many people around the world, this is no longer a theoretical question.

Last year, Internet service was shut off for roughly seven months in India’s Kashmir Valley, affecting 7 million people. The government of the world’s largest democracy justified the blackout by saying it was necessary to avoid protests and loss of life. In Bangladesh, a government-directed shut-off disrupted humanitarian and emergency services in Rohingya refugee camps for more than six weeks in 2019. Congo blacked out the Internet for 20 days after last December’s elections, preventing electoral observers from relaying information from rural polling stations. Ethiopian authorities shut down the Internet for three days last June to prevent student cheating on national exams. In January, there were outages in Iran during protests over the downing of a Ukrainian plane, following a week-long blackout last year after the price of fuel went up.

These shutdowns are the new normal in many parts of the world. According to the Internet research firm Top10VPN, a record 21 countries cut off the Internet 122 times in 2019, costing the global economy as much as $8 billion. Government officials often claim these Internet blackouts are needed to protect public safety. But deployed regularly, they can thwart the democratic process, threaten human rights and batter modern economic life.

You might think it could never happen here in the United States. But think again.

To understand how, start with the Communications Act of 1934 — which, though it has been amended and updated several times, is essentially an 86-year-old law that is still the framework for U.S. communications policy today.

Section 706 of this law allows the president to shut down or take control of “any facility or station for wire communication” if he proclaims “that there exists a state or threat of war involving the United States.” With respect to wireless communications, suspending service is permitted not only in a “war or a threat of war,” but merely if there is a presidential proclamation of a “state of public peril” or simply a “disaster or other national emergency.” There is no requirement in the law for the president to provide any advance notice to Congress.

The language here is undeniably broad. The power it describes is virtually unchecked. That’s not surprising, since some of the last changes made to this section of the law were introduced in 1942, shortly after the attack on Pearl Harbor, when Congress was laser-focused on protecting our safety and security.

These are, of course, different days. After all, back in 1942, “wire communication” meant telephone calls or telegrams, and “wireless” meant radio. But if you think this language, and what it authorizes, have faded into the dustbin of history, you’re wrong. Today those terms have generally been accepted as including access to the Internet. And as recently as 2010, a Senate committee report on protecting cyberspace concluded that section 706 “gives the President the authority to take over wire communications in the United States and, if the President so chooses, shut a network down.” That means if a sitting president wants to shut down the Internet or selectively cut off a social media outlet or other service, all it takes is an opinion from his attorney general that Section 706 gives him the authority to do so.

That’s alarming. Because if you believe there are unspoken norms that would prevent a U.S. president from using Section 706 this way, recent history suggests that past practice is no longer the best guide for future behavior. Norms are now broken all the time in Washington.

It’s time for a front-to-back assessment of Section 706. We need a dialogue about what it means and what it should mean in the digital age. We need Congress to consider how this power squares with the Constitution and ask what role there should be for the legislative and judicial branches. While we’re at it, the United States should develop a formal policy on government-directed Internet shutdowns, informed by the experience of the State Department, Commerce Department and Federal Communications Commission. Then we should share this expertise with other countries so that we can work worldwide to keep the Internet open and available.

We need this discussion. Without having it, our existing law could be contorted to support outages, and we should expect to see government-directed shutdowns happen in many more places — including right here at home.

https://www.washingtonpost.com/opini...b81_story.html

[Shami-Amourae]

Freeing Gold from bankers with the blockchain (just released now).


Real physical gold linked to the blockchain and fully regulated:
https://www.coingecko.com/en/coins/pax-gold

[Neuro]

Freeing Gold from bankers with the blockchain (just released now).


Real physical gold linked to the blockchain and fully regulated:
https://www.coingecko.com/en/coins/pax-gold

Good to have in the back of your mind when you want to take some profits of the cryptocoaster... However what I don’t understand is how they can store physical gold free of charge? I mean I wouldnt like the person holding my gold for me to feel he is shortchanged.

I am currently holding chainlink. Touted as next generation smart contract token from the Eth platform. I think there is a lot of hype surrounding it, perhaps all of it is, but that should allow for a good pump.

[RatHoler]

I have initiated some chatter at work about selling some gold privately to help both parties involved.
Buyer gets it cheaper than buying online or at a LCS. Seller avoids capital gains tax. It's a win,win with no paper trail if a private buyer can be found.

[Shami-Amourae]

Wall Street and Government already recognize Pax Gold as legit virtual Gold.

The New York State Department of Financial Services has issued approval of 8 virtual currencies for sale and trade, and 10 coins approved for custody by licensed entities. According to the New York Department of Financial Services website (NYDFS), state regulators have approved eight cryptocurrencies for listing and trading. These tokens include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Binance USD, Gemini Dollar, Pax Gold, and the Paxos Standard Token. The NYDFS also greenlighted the same coins for custody and XRP and Ethereum Classic.

https://coinnounce.com/the-new-york-...s-for-custody/

[woodman]

Wall Street and Government already recognize Pax Gold as legit virtual Gold.


https://coinnounce.com/the-new-york-...s-for-custody/

I have to wonder if there is any essential difference between Pax Gold and Gold trading on the Comex (Crimex). It is still paper/digital and who can ascertain if it is really backed up 100% or not?

[Ares]

Wall Street and Government already recognize Pax Gold as legit virtual Gold.


https://coinnounce.com/the-new-york-...s-for-custody/

How long before the Fed's raid it, take over the physical bullion and throw the creator in prison? Liberty Dollar anyone?

[woodman]

How long before the Fed's raid it, take over the physical bullion and throw the creator in prison? Liberty Dollar anyone?

Mustn't have anything compete with the Federal Reserve

[Shami-Amourae]

Grayscale is/has has been buying up all the mined Bitcoin directly from miners from months and months, now they released this add on TeeVee.
Their starting to market to Boomers now, the people who horde the worlds wealth.



They're getting into derivatives like the bankers do with the SLV and GLD.