In the Econ. Total. thread I mention a little about The Road to Ruin, the brand-new book by Jim Rickards. I just started. I will have lots more to write about it as I explore his ideas.
Of interest is that many of his ideas, so far anyway, parallel Armstrong's ideas.
He is saying that ~2018ish when the defaults go bezerk, the central banks will be trapped, and the global elite will close the financial system, so that the elites can buy up all the distressed corporations and assets, before they reopen the financial system.
Hard assets will preserve wealth long-term but they won't be liquid during that period:
https://bitcointalk.org/index.php?topic=1665943.msg16749910#msg16749910THAT would be the acid-test of a new crypto: whether the black market guys would accept it.
I disagree. I am not here in crypto-land to create black markets. I am here to create a mainstream market of billions of people using crypto-currency.
For liquidity, you are going to need crypto-currency. And that is why you need crypto-currency with billions of users for massive liquidity. Bitcoin isn't going to get us there fast enough. That is why I will release the "Bitcoin killer" early 2017.