Prices, Inflation/Deflation, Interest Rates & The Fed

BURNΞR

Pelican
So there exists an account on the blockchain that requires a certain key in order to legitimate entries of an accounting unit called a BTC and these entries must then be submitted for validation across the network of computers running the blockchain, correct?

So what is "it" that you "own"?




Ah, yes. Humanity's impulse to rebellion and claimed "liberation" from "tyranny." I'm sure this time it'll work out.
You dont own the blockchain you have rights to spend the coins and move it around on the bitcoin blockchain network.

In the banking world your ID and biometrics tells the banks that the money on their database belongs to you. In the blockchain world it is the private key or password that does the same thing. In banks you dont own the money either, the money in your balanace is a representation of what the bank owes you. It's an IOU and can be revoked by the bank or the government at any time.
 
You dont own the blockchain you have rights to spend the coins and move it around on the bitcoin blockchain network.

In the banking world your ID and biometrics tells the banks that the money on their database belongs to you. In the blockchain world it is the private key or password that does the same thing. In banks you dont own the money either, the money in your balanace is a representation of what the bank owes you. It's an IOU and can be revoked by the bank or the government at any time.
This is exactly what I am trying to convey. Those “hard assets” you supposedly own can be taken, and I believe will be taken, when the current fiat system collapses. Whatever promises were made about your 401k, 40 acre farm, or bank account will be arbitrarily broken by an increasingly desperate government. Whatever the rules are, they can ignore them or change them, as has been made abundantly clear to me since April 2020. That’s when I truly started to exit the matrix. This board is full of good, smart, virtuous people. I just want to light a spark that might catch fire in some here who I believe have a normalcy bias and cannot zoom out enough to see what is inevitable. The value of traditional hard assets like real estate, housing, and even gold is going to plummet, even as the money printer goes brrrrr, because governments will become so predatory in taxation and confiscation, as everyone with real wealth or digital assets flees to places that want real capital investment but have no military or welfare state to maintain. You think your wealth is safe in traditional assets, I’m trying to convince you that your million dollar stack is inside a steel safe, sitting in a house that is burning down.

 
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Bannic

Sparrow
The only way you can protect assets is to spread them through many jurisdictions. With all the inconvenience attached. And getting multiple nationalities. Easier said than done though.
 

Dissimilarty

Sparrow
Orthodox Inquirer
You dont own the blockchain you have rights to spend the coins and move it around on the bitcoin blockchain network.

In the banking world your ID and biometrics tells the banks that the money on their database belongs to you. In the blockchain world it is the private key or password that does the same thing. In banks you dont own the money either, the money in your balanace is a representation of what the bank owes you. It's an IOU and can be revoked by the bank or the government at any time.

The point is that you do not have "rights" to anything. You either solely possess the cryptokey or you do not, full stop. Again, if you go look at your wallet and the network shows a lower number than you were expecting, what has been "stolen." The very concept of "theft" requires that you do have "rights."

And your riff about banks is completely wrong. You defintely do "own" the account and possess legal rights. This is the intellectual rot btc depends on to justify itself.
 

BURNΞR

Pelican
The point is that you do not have "rights" to anything. You either solely possess the cryptokey or you do not, full stop. Again, if you go look at your wallet and the network shows a lower number than you were expecting, what has been "stolen." The very concept of "theft" requires that you do have "rights."

And your riff about banks is completely wrong. You defintely do "own" the account and possess legal rights. This is the intellectual rot btc depends on to justify itself.

Exactly, you possess the key or do not. This comes with the negative of being solely responsible for your wealth. The flip side is nobody can take it away or inflate it to zero so long as you are careful.

As I get older I've come to the realization that "rights" and "laws" are just social conventions that change with time. One day you own your money, tomorrow the bank or government decides you don't because you are cancelled or be confiscated and donated for the greater good. The laws are made for the powerful to stay in power not for your benefit. Your money, property, women, children are yours to take custody until the states decides otherwise. You own nothing in the West, at best you are a temporary custodian of these things. Crypto is nice because it is least impaired by the state and most difficult to confiscate.
 
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NoMoreTO

Hummingbird
Farm prices in Ontario continue to be priced at ludicrous levels. Ultimately, there is no way the prices can be pencilled out based on profitability even for large scale producers with value added crops. The only reason someone would buy a farm is speculation. Hobby farms of 30 acres and homesteader farms 5 acres have even higher premiums. There is a trend to build massive homes on these plots. These aren't your father's homesteads and hobby farms.
 

Dissimilarty

Sparrow
Orthodox Inquirer
The flip side is nobody can take it away or inflate it to zero so long as you are careful.

Again, this is the kind of intellectual rot btc depends on to justify itself. If the State, in and of itself, is as evil and nefarious as you say, they can and, in your view, most assuredly would "take it away" by outlawing, confiscating, jailing, etc.

As I get older I've come to the realization that "rights" and "laws" are just social conventions that change with time. One day you own your money, tomorrow the bank or government decides you don't because you are cancelled or be confiscated and donated for the greater good. The laws are made for the powerful to stay in power not for your benefit. Your money, property, women, children are yours to take custody until the states decides otherwise. You own nothing in the West, at best you are a temporary custodian of these things.

And here is the Liberal philosophy your forced into. You're no different than the "powerful" other than your weakness.
 
Again, this is the kind of intellectual rot btc depends on to justify itself. If the State, in and of itself, is as evil and nefarious as you say, they can and, in your view, most assuredly would "take it away" by outlawing, confiscating, jailing, etc.



And here is the Liberal philosophy your forced into. You're no different than the "powerful" other than your weakness.
It’s beyond the reach of the state. Think of it like the ocean, maritime law. Bitcoin can’t be confiscated…full stop. Do some research if you want to fully understand why. Your private key is private. You can generate a private keys that never touch the internet and reside only on a piece of paper. The state can’t and never will be able to control it.

What liberal philosophy are you referring to. Burner was referring to nation state “laws”, which exist at the convenience of those in power, not natural laws or God’s commandments.

Thou shalt not steal: I consider a natural law that Bitcoin defends with a simple law of nature that was only discovered in the computer age: multiplying prime numbers into a larger product is easy, but factoring a product into its primes can take a supercomputer millions of years —unless you know the primes you started with.

The current fiat system will collapse with such force that civilization will be unrecognizable from today. Many people will suffer and die in the transition. I wish that were not the case. The death throws of the current order are abundantly evident. Vaccine mandates and passports are just the tip of a giant iceberg that the Titanic is currently ramming into. Bitcoin is the lifeboat.

if you don’t like Bitcoin, at least buy beans and bullets, you’ll need them.
 

BURNΞR

Pelican
Again, this is the kind of intellectual rot btc depends on to justify itself. If the State, in and of itself, is as evil and nefarious as you say, they can and, in your view, most assuredly would "take it away" by outlawing, confiscating, jailing, etc.



And here is the Liberal philosophy your forced into. You're no different than the "powerful" other than your weakness.
It's not so much I think the state is evil it just has a long repeated history of taking off with other people's money. People just cannot forgo the free lunch, so to speak.

I'm not sure what you mean precisely with your 2nd statement but I think it's unfair to presume you would know what I would do if I were "powerful". This sounds like mind reading.
 

Dissimilarty

Sparrow
Orthodox Inquirer
This sounds like mind reading.

What is the meaning of your avatar?

It’s beyond the reach of the state. Think of it like the ocean, maritime law. Bitcoin can’t be confiscated…full stop.


Are you kidding? It's already been confiscated by the feds many times. Not to mention the entire plan you've concocted (ie. sell your assets for btc and flee) becomes completely DOA the second the feds say "Property purchased in any digital currency besides fedcoin from an individual with a outstanding tax liability or criminal forfeiture in the past x timeframe is subject to confiscation." And, again, why wouldn't they? You're literally posting and promoting btc as exactly a way to avoid governmental regulation and tax.
 
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What is the meaning of your avatar?




Are you kidding? It's already been confiscated by the feds many times. Not to mention the entire plan you've concocted (ie. sell your assets for btc and flee) becomes completely DOA the second the feds say "Property purchased in any digital currency besides fedcoin from an individual with a outstanding tax liability or criminal forfeiture in the past x timeframe is subject to confiscation." And, again, why wouldn't they? You're literally posting and promoting btc as exactly a way to avoid governmental regulation and tax.
Because someone had poor OpSec doesn’t disprove its security…it wouldn’t have $1 trillion in value, it would have no value. Not everywhere in the world is the United States. Not everywhere has extradition, and for 200 btc you can become a sovereign diplomat of the Seychelles and enjoy all the benefits thereof. I‘m advocating avoiding predatory tax and confiscation. If you were a Jew in Germany in 1931, would you stay in your house until the gestapo prodded you into the cattle cars? Most democracies are quickly abandoning any semblance of “rights.” Its best to think clearly about where this ends.
 

Blade Runner

Ostrich
Orthodox
The current fiat system will collapse with such force that civilization will be unrecognizable from today. Many people will suffer and die in the transition. I wish that were not the case. The death throws of the current order are abundantly evident. Vaccine mandates and passports are just the tip of a giant iceberg that the Titanic is currently ramming into. Bitcoin is the lifeboat.
I generally agree with this. I could also see a less fantastic future where the increasingly enslaved (mind and spirit) just become drones of the surveillance system, as opposed to seeing crazy numbers of casualties. The fiat system will collapse, there is no doubt, the question is more one of when the war part takes place - right before or right after? Or concurrently?
 

NoMoreTO

Hummingbird
It’s beyond the reach of the state. Think of it like the ocean, maritime law. Bitcoin can’t be confiscated…full stop. Do some research if you want to fully understand why. Your private key is private. You can generate a private keys that never touch the internet and reside only on a piece of paper. The state can’t and never will be able to control it.

...

The current fiat system will collapse with such force that civilization will be unrecognizable from today. Many people will suffer and die in the transition. I wish that were not the case. The death throws of the current order are abundantly evident. Vaccine mandates and passports are just the tip of a giant iceberg that the Titanic is currently ramming into. Bitcoin is the lifeboat.

if you don’t like Bitcoin, at least buy beans and bullets, you’ll need them.

I like your defense of bitcoin not being able to be confiscated, but based on my admittedly very basic knowledge of bitcoin, at this point I would respectfully disagree. Lets take the tyranny down the darkest path, and lets imagine we are unvaccinated non compliants in a total beast system.

Wouldn't you still most likely still need to plug your computer into the internet to transfer the bitcoin? If so, then this is the point of weakness with bitcoin, you still have to plug in to use it. If it were made illegal, you couldn't purchase items online with it. If not you would have to transfer it directly onto someone's machine? However, once you are transferring the bitcoin outside of the use of the internet, then the bitcoin would lose alot of it's value as it requires a face to face interaction, complicated by the use of computers.

This is why I would favour beans, bullets, and precious metals of the noble savages. They are tangible. If we are planning on being outside the system, then my assumption is that we would be moving back in time, to a simpler tangible good or service for barter. Anything plugged into a computer in my mind is less secure. Just like a text conversation is less secure than a one on one these days. From what I am seeing they are looking to lean totally on information tracking.

The current fiat system will collapse with such force that civilization will be unrecognizable from today. Many people will suffer and die in the transition. I wish that were not the case. The death throws of the current order are abundantly evident. Vaccine mandates and passports are just the tip of a giant iceberg that the Titanic is currently ramming into. Bitcoin is the lifeboat.

if you don’t like Bitcoin, at least buy beans and
My intuition from when I was looking into the possibility of hyperinflation and the Central Bank Digital Currency (CBDC) is that the meltup of assets or hyperinflation will occur as a transition point over to the CBDC. The FIAT currency crisis will necessitate the need to switch over to a new Currency to replace the old. This is the Reset. The Vax pass will be your bank account for your CBDC, and those who don't have the Vax won't have access to the new currency. At first the old bucks and the new bucks will be of the same value or a 10:1 /100:1 ratio. But the new currency won't be like the old, in that it will be part of a totally closed, programmable, controlled system.

So while I agree that bitcoin is good because it is Outside the system, I would still hold that silver is preferable, as it is tangible, something that doesn't play into the strength of the system.
 

brotherjimbob

Woodpecker
I like your defense of bitcoin not being able to be confiscated, but based on my admittedly very basic knowledge of bitcoin, at this point I would respectfully disagree.

Nice line))

If things go full Mad Max/stone age, then you're right, crypto will be pretty worthless.

Falling short of that, they likely will make it illegal, would be my guess... probably using the eco argument.

Then all the big money people are betting on will scurry, and BTC will crash...

BUT, crypto is such a good way to play outside the system, people will still use it, just like they still smoked weed and drank alcohol.

My guess.
 
Nice line))

If things go full Mad Max/stone age, then you're right, crypto will be pretty worthless.

Falling short of that, they likely will make it illegal, would be my guess... probably using the eco argument.

Then all the big money people are betting on will scurry, and BTC will crash...

BUT, crypto is such a good way to play outside the system, people will still use it, just like they still smoked weed and drank alcohol.

My guess.

I think that even if you believe that, bitcoin is a fantastic hedge for government tyranny. The government cannot "freeze" your bitcoin that's on a hardwallet. If for some reason you needed to leave a country ASAP, you could move with either just a harddrive or some memorized words and take your life savings with you. I know you'd lose a lot money trying to then convert it back to fiat in whatever country you moved to (except El Salvador), but you'll lose a lot less than if you tried to flee with cash or even precious metals, which could be taken at the border or when your tried to board the plane. I guess Gold or diamonds might be an exception since they are so valuable and small, but it's still not as mobile.

For example look at Nick Fuentes. 400k from his bank, gone overnight. Literally just gone because the government felt like taking it. Yes he could have had that in silver, but that's a lot of silver to take with you or even sell. Even 400k in gold would be a bit awkward.
 
I generally agree with this. I could also see a less fantastic future where the increasingly enslaved (mind and spirit) just become drones of the surveillance system, as opposed to seeing crazy numbers of casualties. The fiat system will collapse, there is no doubt, the question is more one of when the war part takes place - right before or right after? Or concurrently?
It is clearly now Blade not the collapse, but the preparation.
 
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