Post
Topic
Board Economics
Re: Martin Armstrong Discussion
by
realr0ach
on 07/12/2017, 18:43:58 UTC
Why this forum should be renamed to scamtalk.org:

and right now is best used as a digital store of value

No, bitcoin is not "a store of value", no more than dogecoin or airline miles are a "store of value".  At the end of the day, the only type of endgame anyone wants from a monetary instrument is to receive a physical good or service for it.  This is why commodity currencies are the only real form of money, because they are not IOUs, and thus have no counterparty risk.  Just like fiat paper, bitcoin is nothing more than a debt instrument or IOU because it cannot actually be used for anything.  You are hoping to trick someone into giving you something of use for your something of no use.  One could even argue bitcoin is worse than fiat since even if the value of paper money goes to zero, you can at least set it on fire to keep yourself warm.

The bitcoin forum is plagued with people who have no understanding of money, and scammers who just flat out lie about what the difference in money and currency is.  Bitcoin is not money.  Although not debt issued like USD, it's just another debt instrument currency.

And a recap of today's events:

Kind of hilarious the scammers are trying to pump bitcoin when this news just came out which should be making it crash instead:

http://www.cryptocoinsnews.com/game-over-steam-no-longer-accepts-bitcoin-due-to-high-fees-and-volatility/

What more of a sign do you need that bitcoin fails as a "peer to peer payment system" and only functions as a centralized settlement network like the banker scam networks such as SWIFT that already exist?  And no, Lightning does not solve this issue.  It's not possible to create a decentralized digital currency.  Bitcoin is already centralized and Lightning makes it even more so.

Why bitcoin probably really exists:

Bitcoin was released right at a time where the bankers knew debt based fiat was going into cascading deflationary collapse since in this fraudulent system debts are considered assets instead of liabilities.  This is why the evil Jew sheklers running the system starting spamming the phrase "helicopter money" and "basic income" as an actual serious proposed solution.  The system either collapses in deflation, or they print and....it collapses anyway, just a few days later from hyperinflation.

If used as a dollar substitute, bitcoin for all intents and purposes IS helicopter money (bitcoin currently is a dollar derivative and not substitute).  So they probably released this bullshit as part of that plan.  It's just that the market was completely cornered due to ASIC manufacturers right after it was released, making distribution terrible, rendering the entire exercise pointless and not "helicopter money" anymore since the so called money only goes to a couple people.  It appears they continued with their pointless plan anyway and tried to raise the bitcoin price.  After this move completely fails to raise money velocity or do anything for the economy, there will be some type of implosion and they will do real helicopter money or basic income into people's bank accounts.