Quote from: KLmoney on November 12, 2014, 10:43:07 AM

Quote from: brg444 on November 11, 2014, 08:43:01 PM

Quote from: cypherdoc on November 11, 2014, 08:25:57 PM

Moon? i lol'ed:

"So I said OK well let's assume it's something like goldThere's a finite amount of it," Pal said in an interview with Grant Williams on Real Vision Television. "There's a finite amount that's been mined. The rest is underground. We kind of know how long it's going to take before all the gold is mined or before all the bitcoins. Put them in the same kind of equation we get a value of bitcoin and that value is a million dollars. Now, you'll never hear an analyst say thisbut I don't mind thisI could be wrong by 90%, and it's still worth $100,000."

http://uk.businessinsider.com/raoul-pal-on-bitcoin-2014-11?r=US

I suggest you watch the video at the end of the article if you haven't already. Much more interesting than the article.

Only at the end does he drifts into nonsense suggesting gold will be improved to allow for currency use. It seems he hasn't accepted yet that Bitcoin is effectively gold's replacement but he definitely understand its value proposition

Thanks for highlighting the video. Great interview, especially if you believe in both gold and bitcoin.

Indeed it is. He expresses the exact worries a lot of us've been having about the financial system very well.

Also makes me think of one of cypher's earlier tweets:
"its also the way out for the Millennials to escape the debt hole we Boomers r forcing upon them."

I think this is key. I'm actively advocating such an escape in my social circles (being one). Not many of us _{(understatement)} are thinking/reading up about these issues, let alone take precautions. A 5-10% bet of your networth would set you and others right if the time would ever come. If 'that time' doesn't come, there's still a great chance that your holdings have increased in value. Potential downside is limited to the amount you're willing to put in, upside is unkonwn. Asymmetrical as f***. Just makes so much sense to me.