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More Buttcoin Nonsense|
- an obvious fraud
I have predicted that Bitcoin should hit $3,000 by end of this year?—?but not if there is a contentious Hard Fork.
. . .
High prices are in turn driven by market demand. Market demand is driven by PR & media and the long term narrative that Bitcoin is the first and only true cryptocurrency which is a long term store of value. If we mess with this, I believe we can expect negative consequences…
- Bitcoin's 'Fork' In The Road
It's impossible to make a serious price prediction for buttcoins because they have no fundamentals whatsoever. In fact, they don't even exist. The blockchain records ownership but doesn't contain buttcoins. Neither do the so-called wallets; they're just two numbers: the address and a password to access it. That's why the above claim of $3,000 is unaccompanied by an explanation of where he got this curiously round number.
The second paragraph above, is as close as you'll probably get to having this shyster admit that buttcoins are supported by nothing but the gullibility of those who hold them. There is NO store of value in a buttcoin. You're wholly dependent on finding a greater fool to buy it off you.
The market demand for buttcoins should be less than the supply as the only utility for them is to get rid off them and each transaction creates more of them. Given abundance of supply (increasing by about 12% a year, the last I looked), there should be no squeeze. Already, buttcoin inflation means there are over 16m buttcoins from next to nothing when they were introduced in 2009. Instead, Zero Hedge has noted someone buying up buttcoins to maintain the price.
The above propaganda article contemplates the split of buttcoin creating twice as many out of thin air in an instant. Only something completely worthless could achieve such a thing and it doesn't get more worthless than something which doesn't even exist. For anyone wanting to buy buttcoins, I have a bridge to sell them, not to mention a whole herd of unicorns.
In all likelihood, buttcoins have been introduced and heavily hyped by the propaganda as a distraction from gold.
There's further evidence buttcoins are being artificially manipulated: The drop accelerated on Thursday and BTC hit a five-week low of $944.36 on Saturday. But bitcoin recovered a little on Sunday and built on those gains on Monday, climbing around 2.5 percent to roughly $1,050.
- "Traders Are Selling Bitcoin, Buying Ether": Bitcoin Rebounds From Biggest Drop In Years
The proposed split hasn't even happened, yet someone has been bidding up buttcoins (in the absence of scarcity because of panic selling). Buttcoins have NO fundamentals because they don't even exist. Yet someone, you're supposed to believe, has decided that they're a bargain and offered to buy buttcoins at a higher price during a panic when others are dumping them. Why didn't they believe buttcoins were a bargain when they were sitting at $600 for so many months before the recent spike to overtake gold based on the prospective buttcoin ETF which was denied anyway!?!?!?!
And Here's Some Paper Funny Money Nonsense
Some safe-haven investments - like German government bonds - became so popular people were prepared to accept a negative return (essentially paying £11 for a £10 note) knowing that if the proverbial really hit the fan they at least trusted the German government to give them most of their money back.
- Are we headed for a bond market bloodbath?, state-run BBC
In response to the question of whether credit was money or not, JP Morgan replied: "Money is gold and nothing else." Silver had just been demonetised.
We know paper funny money is credit because Poodle notes bear the broken promise to "pay the bearer on demand the sum of _____ pounds". Those pounds are Tower pounds or 11¼ Troy ounces of Sterling silver. So the silver is money the paper is a credit instrument promising to pay you on presentation of the paper for redemption. Yet the Bank of Poodleville has already defaulted on this promise, so it's a bond that is worthless.
Yet, you're supposed to believe that those with savings are prepared to pay to store their savings in a safe place, rather than buy gold and silver, where the storage costs are at least lower. You're supposed to believe the markets are free, yet gold (and silver) haven't rocketed to the Moon due to, say, lack of interest and not the 39% slump in indian imports last year due to a ban on 86% of the cash in circulation in November, right in the middle of indian buying season.
And Finally, Some Brexit Nonsense
The government has said it expects to secure a positive outcome but made clear there is a chance of there being no formal agreement with Mrs May saying no deal was better than a bad deal.
- Article 50: Theresa May to trigger Brexit process next week
How can WTO rules, i.e. "no deal" be worse than anything she negotiates? It's already in the bag. To negotiate a worse deal than no deal at all would asinine! What's she going to do; negotiate DOWN! The phrase is only applicable when you have an alternative. The only alternative is if the poodle state refused to trade with the EU whatsoever. Clearly, she couldn't negotiate her way out of a paper bag.
This is what you get when you have a speciesist, apartheid edukashun system; a stupid old woman in leather trousers, tin-pot hat and f***-me shoes, spouting total inanities such as "red, white and blue Brexit". But then if they weren't so corrupt and incompetent they wouldn't be bankrupt, insolvent and so desperate that they have to resort to such suicidal protectionism. Or as Jan Philipp Albrecht put it, "They’re f**ked together with the 48 per cent."
As max. Kiester points out, the poodle state has no leverage (or is that leaverage?): If the piece is to be believed, Europe will not take a “hard Brexit” lying down and demand freedom of movement, reciprocal rights for EU citizens in Britain, as well as Brits abroad, and the payment of an exit “bill,” which is suspected to amount to around £50 billion.
- EU Brexit strategy leak: Britain could be kicked out of single market & sued
So the poodle state will gain nothing and lose everything! As one poodle goon & thug shouted out, this is "suicide" and some can't believe the pooch could be so stupid: A poster was found on the walls of a Brussels war room on Tuesday depicting a parody version of a Tintin adventure renamed ‘Tintin and the Brexit Plan’. The mock cover shows the Belgian character and his travel companion, Captain Haddock, on a boat adrift at sea. However the boat – presumably representing Britain – ignites after Haddock decides to start a fire to warm himself.
“If the ship is sinking, is it not only natural to call for rescue?” a senior EU diplomat asked The Telegraph, adding “we are still not giving up hope that the United Kingdom decides not to leave us.”
As well as the bankstering sector and the car sector, the airlines may have to set up offices in the EU and be majority owned by Europeans or lose routes within Europe. The rigged Brexit referendum also risks the loss of Scotland, Occupied Ireland, Occupied Gibraltar, Scotch Whisky exports and most of the N. Sea Oil.
And just as their wholesale cheating at the Olympics and their white-supremacist, apartheid edukashun system means they're breeding themselves krappier, protectionism means their corporations will stagnate without the competition too. Both are subject to Darwinism, where what kills you makes your species stronger.