I've been doing some research on Litecoin(LTC) and Bitcoin(BTC) recently and it has been a whirlwind. For those of you who don't know I used to mine BTC. I sold all 230 or so for $6.00 or so.
Anyway I saw a video on my journey down "bizarro" path that particularly pissed me off and wanted to share that video with you and the comment that I posted subsequently.
"So who's got the total number of these chips that there will be?
Is it INFINITY again like last time and the time before that and the time before that?
to stop Bernanke and the likes of sending as many digital units as they
wish? Oh wait! Bernanke has already sent TRILLIONS to banks overseas.
Someone just made the decision and off went Trillions!
No one makes a peep? And what problem exactly do people have with BTC and LTC? Someone tell me the difference...
aren't going to get away with destroying the value of currency and then
changing the face of currency and starting it all over again. People
are getting away from that system as governments are being rendered
incompetent with the TIDAL WAVE of technology. Old power structures
want things to stay exactly the same as they wear a golden ring around a
fattened, puss filled finger full of rancor and decay. Waiting to
I'll probably be writing more about this in the future.
Why aren't people buying Bitcoin sending their money to
GoldMoney.com? Yes it's true gold cannot be spent digitally right
now because of governmental restrictions but that is loosening up.
Bitcoin is not mainstream yet and may never be because it has nothing
BUT government regulation coming. Gold less. BTC more.
gold bank offers visa cards tied to your gold account that you can use
to spend just as a debit card. What's inconvenient about that? GoldMoney
will probably offer that in the future in a different regulatory
environment. They had a payment system once but cancelled it because no
one was spending their metal.
If you attach BTC to silver and
gold medallions as I've heard suggested you have a pretender to silver and gold. What would be
the point? If you gave that to me I'd say great, now how do I know the
weight of the silver? The fact that it's suggested intones it doesn't
have the inherent value that everyone wants it to have.
knocking BTC, I used to mine. It just needs to be spoken about clearly.
BTC is a private wealth transfer system outside the banking system that
avoids all the fees and international restrictions that ALL other forms
of money have. That's the doom, or shall I say, fight, of the future. It
will be very interesting.
This is a really fascinating chart put together by Morris Hubbartt.What a perfect flag pole formation. Look how the waterfall decline bounces right off the long term support in the $20 area. Technical indicators are showing a reversal of direction.
If we stay in the current channel and can punch through the $25 area, it looks like we will have a solid breakout of this 2 year correction starting in January. I know my heart could definitely use the reprieve.
My background post BS was recruiting engineers for the automotive industry and then I moved on to finance. I had started investing for the first time during the .com boom and did quite well in very short order, thank you. And just as fast got burned. Being in finance I HAD to learn the markets in order to communicate with my high profile clients. Way leads to way and losses outweighing gains led me to understand how rigged the markets are. That's what led me to silver. That's now my goal, to teach others what I have learned.
All information provided on this blog are the personal opinion of the author. I am not a financial advisor nor do I promote the use of them save a very select few. All individuals are responsible for thier own decisions and I encourage all individuals to make decisions based on their own due diligence pertinent to their needs and comfort level. Knowledge just may be your salvation.