Post
Topic
Board Economics
Re: Martin Armstrong Discussion
by
sidhujag
on 18/01/2018, 13:51:47 UTC
Я пpocтo нaшeл пpeдмeт, кoтopый излaгaeт пpиятнoe чтeниe (нe тo, чтo я coглaceн co вceми иx мнeниями). Этo интepecнaя cтaтья; тeбe пoнpaвитcя.

Note I’ve since come to understand that Eastern Europe and Russia may have a brighter future. And Australia is in worse shape than I thought.



Ive already showed him how bitcoin is the bottom of the new exters pyramid

LOL what a joke.  You are the most dishonest dirtbag on this entire forum.  The base of Exter's Pyramid is mostly about whatever asset removes the most risk.  Bitcoin has built-in, rent seeking middlemen and doesn't even remove counter party risk.  Plus it can be destroyed by more black swans than you can count, while it requires a black hole hitting the earth to black swan metals.

Exter’s Pyramid is a theory by a former central banker. It’s not a proven hypothesis.

Armstrong has explained that Exter’s Pyramid is not always applicable. There have been several examples in human history where the collapse was so Mad Max that only food was money and gold was entirely useless. What use was it for burying your gold in the ground for 600 years (in Japan for example and again in Western Europe) waiting for the Dark Age to be over?

And thousands of examples in human history where the collapse didn’t go far enough off the rails for gold to be necessary. This is the usual outcome. Armstrong has explained that gold only serves a safety role in a very limited type of collapse that is bad enough but not so bad and only during about the first 2 years of such a collapse (because the collapse either improves or goes Mad Max). So Exter’s Pyramid is basically nonsense. Gold will only help you in a very very narrow set of circumstances and that is why the typical recommendation was to only put 1 - 5% of net worth into gold.

But now it’s even worse, because as of this time, gold has become almost entirely useless in any scenario imaginable, because it indeeds relies on middle men to have any economic function. Used to be you could hop on a boat and take your gold with you, and there would be people using it for commerce or at least fractional reserve banking where ever you landed. The government now nearly entirely controls the physical movement and the market makers who provide any form of liquidity, because no one uses metal money any more for actual commerce.

@r0ach seriously my friend. You barked up the wrong tree and you need to realize it before it’s too late for you. We’ve got a juicy correction on Bitcoin right now so sell that damn antiquated silver and get on the rocket going to $40K – $100K. Bottom on BTC is already in or will be $7000 – $8500. Much below $7000 would indicate a crypto winter is upon us, but that would be premature because we have so many new classes of people who are trying to enter this investment now. We need to move to those nosebleed levels before the next crypto winter which will be shallower but longer in duration than the 2014 - 2016 one (which was shallower and longer in duration than the 2011 - 2012 one). Bitcoin is in an adoption curve pattern, and even Armstrong hasn’t realized this yet. I believe Bitcoin is the next reserve currency which was launched surreptitiously by the Zionists who control central banking from farther behind the compartmentalized curtain than Armstrong’s 2nd and 3rd tier contacts (e.g. Margeret Thatcher was not Rothschilds). Bitcoin wasn’t designed to be a transactional coin for the masses and Armstrong still has a myopia about this fact because he doesn’t understand all the technical minutia completely as I do. Fees will rise and the masses will be pushed possibly offchain into fractional reserve banking such as Lightning Networks (but the technical and game theory flaws are onerous so possibly instead on to an altcoin if any succeeds long-term).

Exter’s Pyramid violates the Second Law of Thermodynamics which states that entropy (aka probabilistic distribution of uncertainty and diversity of outcomes) must inexorably trend to maximum. Thus there can’t exist any form of absolute surety, because that would be highly anti-fragile, non-resilient, and non-relativistic. Exter’s Pyramid is some propaganda BS so that insane goldbugs and the dealers who profit on them have promulgated as form of truth, but it’s not an absolute truth.

Armstrong has explained that there was a time in ancient human civilization where gold was not even money because it was too rare. It was only ornamental for kings. Instead iron and then bronze were metal, and before that it was animal skins, shells, and what not. Thus what is money changes throughout time as technology changes. Now we’re moving into a epoch where precious metals will entirely lose their monetary function, because in effect they become too rare again (in terms of ability to exchange them for anything). Remember money is what the people-at-large believe everyone else will accept in exchange.

Also your fundamental fears about cryptocurrency are going to be largely ameliorated when I launch. You see the name of the project now (which I thought of many months ago, we’ve just been hiding it). Decentralized ledger technology is only at the nascent stage. And there’s another formulation that isn’t proof-of-work nor proof-of-stake nor a DAG in the sense that has been already promulgated by Iota and Byteball. It’s not absolute surety (nothing can be because we necessarily live in a relativistic universe), but remember that money is a social institution any way. So I posit my design will fit very well with that reality. And decentralized ledgers (and note the term block chain is not general enough to describe my design) are useless for consensus ordering non-fungible events, not just monetary transactions. The former will end up being much more valuable than the monetary function, per the point of my 2013 essay which I linked for you in my prior comment post.

Btw, did y’all notice that Armstrong’s private arrays Socrates service predicted the recent top of Bitcoin to the exact day (or maybe it pinpointed the week)!

(image is cropped same as for the linked one on the blog above, but this image to the left comes from someone who pays for the Socrates service thus confirming it was prescient)

P.S. Socrates remains cautiously bullish on Bitcoin (thus agreeing with our analysis that a crypto winter collapse is not likely now).
I share the same view about exter and general placement of adoption curve. I was merely poiting.out his goto garbage was actually working against him.and not for.him