Quote from: KonstantinosM on August 20, 2018, 01:43:38 AM

My point was that bitcoin's supply is fixed, while gold can be mined to oblivion.

Right about now is when according to Shelby, the atavistic retrophiliac markj113 and troglodyte realr0ach start to get that sinking feeling in their stomach that theyll never recover from selling BTC at $600 to buy silver at $20.

Shelby cited an explanation that Bitcoins fixed maximum supply is enforced by a clever game theory which prevents mutability of Satoshis v0.53 protocol. Gold lacks such a game theory, which is the reason John Nash provided in his Ideal Money manifesto for gold not being a suitable Ideal Money.

The details are near the end of the following linked post:

https://steemit.com/trading/@anonymint/re-heavyd-re-anonymint-re-anonymint-bitcoin-to-usd15k-in-march-usd8-5k-by-june-then-usd30-k-by-q1-2019-20180819t141422240z

Quote from: realr0ach on August 20, 2018, 08:14:13 AM

Quote from: Febo on August 19, 2018, 08:57:50 PM

Lately i saw a lot of youtube channels of young people collecting coins and gold. I was really surprised.

I 'm not. The non-fake number for how much Trump won the election by over Clinton is something like 10%+ instead of being close like they claimed. That's why they were unable to rig the election because it was too much of a landslide. The majority of people I've seen that voted for Trump seem to prefer metals over shitcoins.

There's absolutely no reason for the common man to support shitcoins over physical metals.

If we filter by age less than 30, then less than 1 in 1000 of the Republicans you refer to would be willing to accept gold at spot value in any barter transaction. You simply fail to understand that money is based on groupwise PUBLIC CONFIDENCE. And PUBLIC CONFIDENCE is impossible for gold when the vast majority dont believe gold is money anymore. Goldbugs are primarily constituted by mostly old geezers (like yourself) who delude themselves, because youre entirely dependent on the well capitalized dealers and marker makers for liquidity and these can easily be regulated by the government. This is a grave error on your part @realr0ach.

As for the long-range timing of what youre forsaking:

https://steemit.com/trading/@anonymint/most-important-bitcoin-chart-ever

Remember the discussion with Shelby in 2016 and the Youtube videos that show most people dont want gold even if you give it to them for free:

Quote from: iamnotback on October 31, 2016, 01:32:50 AM

As cited in my OP, those who have experience economic and social collapse first-hand, have stated that only food, security, medicine, and sin goods are liquid during that scenario. Also any liquid currency that people know they can very readily exchange externally to the collapsed region. Precious metals (especially silver dimes!) don't qualify. Tinfoil hat wearing goldbug idiots are thinking that people will accept their coins in barter. Never going to happen dude. Get a fucking clue about reality.

You also are closed-minded because you are wearing a tinfoil hat (as I used to do) and thus you are blindly married to the concept in which you are vested.

You do realize I am @anonymint, also Legendary (plus a few Hero accounts as well) don't you?

Edit: Selling a 10 oz Silver Bar for $10 (When It's Worth $160) - EXPERIMENT -

Selling 1 Oz Gold Coin for $25 (when it's worth over $1,500)

Buying a 99¢ Taco with 1 Ounce Gold Coin (worth over $1000) - from Taco Bell's Drive-Through

Free $5 Bill or Free Silver Dollar? It's Up To You <--- make sure you listen at 1:30 to the guy who knows the spot price but still won't take the silver dollar!

Quote from: realr0ach on August 20, 2018, 08:14:13 AM

All cryptocurrencies have transaction validators that are designed to centralize through interest, economy of scale, asymmetric bellcurve's effect on ASIC design, chip foundry startup costs, asymmetric global energy costs, etc. There's literally thousands of reasons for why shitcoins are designed to centralize. It's a complete joke.

Since the tokens are non-fungible and transaction validators designed to centralize, it's probably the best new world order tracking and control grid enslavement tool ever created. The media is entirely controlled by six companies who actively work to screw you 24 hours a day, and bitcoin is/will be virtually the same thing. If you do something they don't like, they just blacklist your coins and you no longer exist, just like they ban people on Twitter and Youtube.

Shitcoins do NOT remove middlemen or counterparty risk. It's all lying scumbags saying that. Not only do they not remove them, they have them BUILT-IN to the god damned system. The only thing that removes middlemen and counterparty risk is a physical commodity currency that exists in the real world whether it's silver, gold, oil, or what have you. It just so happens metals are the only one usable as money in practicality.

It was already explained to you (at the bottom of Steemit post I linked above) the historical evidence that gold has always been a fiat (because money is only groupwise PUBLIC CONFIDENCE) and has not always been money since antiquity.

Gold and Bitcoin are both fiats, but the major distinction is that Satoshis v0.53 protocol real Bitcoin has a game theory which makes it immutable and thus its impossible to increase its protocol dictated maximum supply of BTC21 million. Click the Steemit post linked above for the detailed exposition. Also Bitcoin cant be regulated by government due to its jurisdictional arbitrage. Thus Bitcoin subsumes the nation-states as a NWO 666 international reserve asset. Gold can and is highly regulated by the nation-states and that is why it is basically useless for the only possible function it could have now to hedge against failure of governments. The utility of gold is dying and will be completely dead as your generation of geezers dies over the next couple of decades.

Quote from: realr0ach on August 20, 2018, 08:34:23 AM

Quote from: KonstantinosM on August 20, 2018, 01:43:38 AM

Meanwhile, space mining is inevitable.

It doesn't matter if it's technically possible, all that matters is cost of production per ounce.

Irrelevant. The supply of gold and silver can still be increased by mining some where. If eventually rare earth metals are exhausted on Earth, then maybe humans will need to mine asteroids, but thats not here nor there relevant. Governments can wreck havoc on countries by intervention in the supply, price, and PUBLIC CONFIDENCE of the metals. Which is the why John Nash explained in his Ideal Money manifesto that gold is not a form of ideal money. That is why Nash basically proposed what Bitcoin is. That is why some people suspect John Nash may have been involved in the creation of Bitcoin. Both Nash and Gavin Andresen were at Princeton. Shelby documented in his discussions with traincarswreck that Nash disappeared from public for a couple of years during which Bitcoin R&D would have been at its peak. He reappeared at conferences on Ideal Money after Satoshi made his last post on this forum.

Quote from: https://www.gold-eagle.com/article/silver-will-outperform-gold-when-fiat-dies

Note the increase in the gold-to-silver price ratio (decrease in silver-to-gold price ratio) actually started decades before the 1920s boom ended in 1929. The increase coincided with the massive increase in silver supplies due to "Western Silver Discoveries", and probably also exacerbated by the official takeover of fiat in 1913. Notice the downward spike in the ratio from 1932-35, which I explained in my prior article "Fiat Price Of Silver Is Deceptive", was due to US government manipulation of the silver price in order to cause a depression in China and force them off a silver legal tender money standard. Thus monetary demand for silver was removed/reduced in the most populated nation on earth.

Note the second drastic rise in the ratio started around 1964, when silver was removed as money from USA coin, flooding the investment market with 2 billion oz of silver. Notice it only took one billionaire investor (Hunt brothers) in silver to spike the ratio back down to roughly 15 in 1980, even with the 2 billion oz supply overhang.