Sadly I have to agree with you on the bitcoin crypto nonsense. It's a hoax and I think people get all excited about the prospect of new things. However, this one is a fairy tale. Come on, people, you can't really believe this blather.
I can continue to appreciate the frankness with which you make your points. I would like to believe that you already know that the "war" in Ukraine is no more than a black op that has been ongoing for over 10 years, at least from the American point of view. The proof of which will become clear when/if some of the main players get themselves in a tight spot and sing. I can only hope for that. The fiat currency is a much bigger and more nuanced problem. I doubt that Bitcoin will be the savior for US, but would also say that the dollar is not long for this world. The more that banking is digital, the less paper currency is needed. Unfortunately, that is where the whole thing is going... right in the toilet if you ask me! I will miss being able to use my money for anything other than government approved purposes. If you think I'm crazy, you may be right. I sincerely hope I am, but I doubt it.
Hi Toby. Yes, I know what Ukraine is all about...have written about it before. I know many people like yourself think we are moving to pure digital currency, but I don't believe it'll be sustainable. And the only way that it'll work is if everything else crashes/collapses and people have no choice. There would have to be a major event that forced all people into it, or else it would only be for those who self select. But even after forcing people into it, the whole idea isn't realistic, built on two fallacies... (1) that energy is inherently cheap and infinite, (2) that the electric grid and electricity will be 24/7 without fail. I think of Dr. Joseph Tainter who explained very clearly that more complex systems waste more energy. How many countries does it take to make a cell phone? How many miners? How much transportation? How much production? And how long does a cell phone last? A good shovel will last you 30 years...a cell phone, maybe 4 years. A lot more energy goes into the production of cell phones than shovels. There are plenty of good presentations and interviews by Dr. Tainter, but here's one... https://youtube.com/playlist?list=PL7D613ABAE66E3452&si=_yBgQSqAbiqFcVY_ Also see Confronting Collapse: The Crisis of Energy and Money in a Post Peak Oil World by Michael Ruppert and his full film: Collapse... https://youtu.be/eLLl5NOLdwA?si=Ceeyb61HdBjBbL90. He explains in his book that energy is money, and this is true.
agree that the electric grid will have failure, but I don't believe that necessarily means that digital banking will not be the norm. See the Canadian debacle during the trucking strike recently. People put their money in the go funds and the ones that needed it were denied. Same thing will happen here, if we allow it. Blame is only as good as people will believe it, and I can guarantee that it will be believable. Oh sorry, you can't access your account due to the planned blackout that is occurring. I would like to believe that our government is fundamentally working for the people, but if I believed that I would be a Democrat. I really enjoy hearing your point of view and I hope you continue to provide one to me. Have a great day! Peace.
Thank you! So fiat is debt-backed currency, and to keep this currency alive, they have to play a lot of games. One of those games suppresses the cost of energy. This is because energy is real money, so it's inversely correlated. The cost of energy has been held down like a beach ball under water by fiat, debt-backed currency. Meanwhile Nvidia, Apple, etc. (all the big tech stocks) and AI have driven the cost of energy compactors up. These super stocks consume an enormous amount of energy to mine, make, and transport their products and services. So then why is the cost of energy so low? Without energy they don't exist!
When debt implodes, the cost of energy will explode. And this, my friend, is the end of fiat currency and all the energy guzzlers. Energy moves from abundance to scarcity because it costs a lot more to mine, make and transport everything that it backs. EROI (energy return on investment) goes down as debt goes up. But there's a reversal coming. All that food at the grocery store now goes way up because the energy costs go up. Gas is $10 or more a gallon. Again, energy is real money. Check out Michael Ruppert. He's the first one who opened my eyes. Second was Steve St. Angelo. https://marketsanity.com/steve-st-angelo-the-world-is-heading-for-an-energy-cliff/
North Korean hackers just stole 308 million in Bitcoin. Trump led us into covid lockdowns and poisonous jabs and next he will lead us into financial ruin with Bitcoin, if he doesn’t kill us in WW111. Conned or complicit? The outcome is the same.
As usual, all FUD. Not a single word explaining the elegant technology behind Bitcoin or its 16 years of success as the first private, non-government money to come along and free us from the melting ice cube that is the fiat dollar. To quote Michael Saylor: “Bitcoin has no top, because fiat has no bottom.” You enjoy your fiat melting ice cube that loses value even while in your pocket. I’ll stack Sats and accumulate freedom money that bypasses the Fed and goes straight into my wallet.
I learned some years back that if a problem is identified, a solution or an alternative should be offered. Since I see neither offered in this article I have to assume you believe in fiat currency. Fiat currency always goes to zero. Given that there is no history of how BTC came to be or who Satoshi Nakamoto is, I have to further assume the motivation for the release of his whitepaper is also not on your radar and is therefore insignificant to you. In short, I find your reasoning vacuous.
I read the link you sent. You make claims as though they are fact, which they are not. Presidents and administrations spend our tax dollars like pimps witout a budget, its true; but the exponential factor is up to the Federal Reserve. To whom does the Federal Reserve answer? How many BTC will be mined before there are no more to mine? Name three of the most popular places in the world to mine BTC. How many Bitcoin have already been mined, and when is the next halving?
Your argument adresses none of these questions which makes me believe you don't understand crypto or its history at all. Again, no mention of Satoshi Nakamoto or his motivation , so let me save you some time; there will only ever be 21,000,000 BTC ever mined. It cannot be inflated and no more will ever come into existence. Three if the most popular places to mine BTC are Iceland, El Salvador and China. Why do you suppose that is? It's because the energy to mine for both El Salvador and Iceland is geothermal. It's practically free. In Iceland, if the heat build up in the mining building becomes too hot, they do the smart thing, they open the windows. Have you ever been to Iceland in the summer? 45 degrees on a warm day - free air conditioning. I find your argument about energy consumption lacking substance. That leaves China. Why China. China has a cyclical weather pattern where rain is heavy for about four months followed by three months of waiting for Noah's Ark. The hydroelectric dams are generating so much energy the government practically gives it away.
Of the 21,000,000 BTC to be mined, about 19.7 million have been mined. Again, I fail to understand your claim that energy consumption is the problem, especially when the supply to mine is cut in half every 3.85 years. There will only be 1.3 million BTC mined in the future, which will require deindling amounts if energy consumption. As for Satoshi Nakamoto, I'll let you do your own research.
Simply put, the cost of energy is suppressed by the debt. Fiat represents debt, as money of a system that is backed by debt. So if cryptos end up being bought by the government...and backed with treasuries...they are debt also. They've just jumped from one sinking ship to another that has a hole. So tell me how crypto solves the problems? When debt implodes, the cost of energy will explode. How does that work? Also there's the supply factor and something called EROI which is Energy Return on Investment. Explain how crypto works when debt collapses.
George Gilder would disagree that money is a representation of energy. Rather, it is a representation of time. The reason that government would purchase crypto is the same reason a government would purchase "precious metals." If government issued currency always falls to zero, it ought to be obvious that owning anything supported by government is a losing game. So tell me, what/who controls Bitcoin? Certainly no government controls BTC. Why would you refuse to own something that cannot be inflated? Who controls BTC? You do. You control your piece of the pie and if you put in cold storage, no one can take it from you, unlike gold or silver.
America is broke, just living on debt which is now $36.3 Trillion https://www.usdebtclock.org/ And just to put that number in perspective, it takes 31,700 years to count to ONE TRILLION, counting 1,2,3,4,5, etc. every second. Now multiply that by 36.3. It puts America’s bankruptcy in perspective. But as long as they can kick the can down the road, the games will go on. I personally think there could be an intelligence plan to pump crypto and back it with treasuries. They need suckers to buy treasuries (unpayable debt) when other countries stop buying. This means crypto could really go up a lot! And it will of course make things a lot worse. Unless they can sell more and more treasuries, exponentially, eventually the debt-backed dollar will implode. And if crypto is backed by the dollar? Well, bye bye!
So really all they have left are these kick-the-can games. Whether they are conscious of this or not, we don’t know. Is the pumping crypto to dump US treasuries a plan? Or stupidity? But you can be rest assured that no matter how high cryptos go, they are unsustainable and will leave many many people broken and in tears. Have they thought this through? Have they investigated? I don’t know. To me, it’s very sad. Let’s hope and pray for the best.
Why is bitcoin always showing as a coin? It has nothing to do with physical coin just a computer
number. So stop showing it as a coin.
Sadly I have to agree with you on the bitcoin crypto nonsense. It's a hoax and I think people get all excited about the prospect of new things. However, this one is a fairy tale. Come on, people, you can't really believe this blather.
It is incredible that people don't recognize fiat currency as an obvious scam
I thought from the start that this whole crypto thing was like a new Ponzi scheme.
I can continue to appreciate the frankness with which you make your points. I would like to believe that you already know that the "war" in Ukraine is no more than a black op that has been ongoing for over 10 years, at least from the American point of view. The proof of which will become clear when/if some of the main players get themselves in a tight spot and sing. I can only hope for that. The fiat currency is a much bigger and more nuanced problem. I doubt that Bitcoin will be the savior for US, but would also say that the dollar is not long for this world. The more that banking is digital, the less paper currency is needed. Unfortunately, that is where the whole thing is going... right in the toilet if you ask me! I will miss being able to use my money for anything other than government approved purposes. If you think I'm crazy, you may be right. I sincerely hope I am, but I doubt it.
Hi Toby. Yes, I know what Ukraine is all about...have written about it before. I know many people like yourself think we are moving to pure digital currency, but I don't believe it'll be sustainable. And the only way that it'll work is if everything else crashes/collapses and people have no choice. There would have to be a major event that forced all people into it, or else it would only be for those who self select. But even after forcing people into it, the whole idea isn't realistic, built on two fallacies... (1) that energy is inherently cheap and infinite, (2) that the electric grid and electricity will be 24/7 without fail. I think of Dr. Joseph Tainter who explained very clearly that more complex systems waste more energy. How many countries does it take to make a cell phone? How many miners? How much transportation? How much production? And how long does a cell phone last? A good shovel will last you 30 years...a cell phone, maybe 4 years. A lot more energy goes into the production of cell phones than shovels. There are plenty of good presentations and interviews by Dr. Tainter, but here's one... https://youtube.com/playlist?list=PL7D613ABAE66E3452&si=_yBgQSqAbiqFcVY_ Also see Confronting Collapse: The Crisis of Energy and Money in a Post Peak Oil World by Michael Ruppert and his full film: Collapse... https://youtu.be/eLLl5NOLdwA?si=Ceeyb61HdBjBbL90. He explains in his book that energy is money, and this is true.
agree that the electric grid will have failure, but I don't believe that necessarily means that digital banking will not be the norm. See the Canadian debacle during the trucking strike recently. People put their money in the go funds and the ones that needed it were denied. Same thing will happen here, if we allow it. Blame is only as good as people will believe it, and I can guarantee that it will be believable. Oh sorry, you can't access your account due to the planned blackout that is occurring. I would like to believe that our government is fundamentally working for the people, but if I believed that I would be a Democrat. I really enjoy hearing your point of view and I hope you continue to provide one to me. Have a great day! Peace.
https://www.wendywilliamson.com/wp-content/uploads/2024/03/Michael-Ruppert.jpg
Thank you! So fiat is debt-backed currency, and to keep this currency alive, they have to play a lot of games. One of those games suppresses the cost of energy. This is because energy is real money, so it's inversely correlated. The cost of energy has been held down like a beach ball under water by fiat, debt-backed currency. Meanwhile Nvidia, Apple, etc. (all the big tech stocks) and AI have driven the cost of energy compactors up. These super stocks consume an enormous amount of energy to mine, make, and transport their products and services. So then why is the cost of energy so low? Without energy they don't exist!
When debt implodes, the cost of energy will explode. And this, my friend, is the end of fiat currency and all the energy guzzlers. Energy moves from abundance to scarcity because it costs a lot more to mine, make and transport everything that it backs. EROI (energy return on investment) goes down as debt goes up. But there's a reversal coming. All that food at the grocery store now goes way up because the energy costs go up. Gas is $10 or more a gallon. Again, energy is real money. Check out Michael Ruppert. He's the first one who opened my eyes. Second was Steve St. Angelo. https://marketsanity.com/steve-st-angelo-the-world-is-heading-for-an-energy-cliff/
North Korean hackers just stole 308 million in Bitcoin. Trump led us into covid lockdowns and poisonous jabs and next he will lead us into financial ruin with Bitcoin, if he doesn’t kill us in WW111. Conned or complicit? The outcome is the same.
As usual, all FUD. Not a single word explaining the elegant technology behind Bitcoin or its 16 years of success as the first private, non-government money to come along and free us from the melting ice cube that is the fiat dollar. To quote Michael Saylor: “Bitcoin has no top, because fiat has no bottom.” You enjoy your fiat melting ice cube that loses value even while in your pocket. I’ll stack Sats and accumulate freedom money that bypasses the Fed and goes straight into my wallet.
https://wendywilliamson.substack.com/p/the-glory-of-a-minute
Crypto is not backed by the dollar.
BTC is not backed by the dollar.
Take a look at this one and the videos. https://www.wendywilliamson.com/is-the-deep-state-really-scared/
Pippi,
I learned some years back that if a problem is identified, a solution or an alternative should be offered. Since I see neither offered in this article I have to assume you believe in fiat currency. Fiat currency always goes to zero. Given that there is no history of how BTC came to be or who Satoshi Nakamoto is, I have to further assume the motivation for the release of his whitepaper is also not on your radar and is therefore insignificant to you. In short, I find your reasoning vacuous.
You might look back at my previous posts, like for instance this one… https://wendywilliamson.substack.com/p/the-glory-of-a-minute
Thanks for the comment.
I read the link you sent. You make claims as though they are fact, which they are not. Presidents and administrations spend our tax dollars like pimps witout a budget, its true; but the exponential factor is up to the Federal Reserve. To whom does the Federal Reserve answer? How many BTC will be mined before there are no more to mine? Name three of the most popular places in the world to mine BTC. How many Bitcoin have already been mined, and when is the next halving?
Your argument adresses none of these questions which makes me believe you don't understand crypto or its history at all. Again, no mention of Satoshi Nakamoto or his motivation , so let me save you some time; there will only ever be 21,000,000 BTC ever mined. It cannot be inflated and no more will ever come into existence. Three if the most popular places to mine BTC are Iceland, El Salvador and China. Why do you suppose that is? It's because the energy to mine for both El Salvador and Iceland is geothermal. It's practically free. In Iceland, if the heat build up in the mining building becomes too hot, they do the smart thing, they open the windows. Have you ever been to Iceland in the summer? 45 degrees on a warm day - free air conditioning. I find your argument about energy consumption lacking substance. That leaves China. Why China. China has a cyclical weather pattern where rain is heavy for about four months followed by three months of waiting for Noah's Ark. The hydroelectric dams are generating so much energy the government practically gives it away.
Of the 21,000,000 BTC to be mined, about 19.7 million have been mined. Again, I fail to understand your claim that energy consumption is the problem, especially when the supply to mine is cut in half every 3.85 years. There will only be 1.3 million BTC mined in the future, which will require deindling amounts if energy consumption. As for Satoshi Nakamoto, I'll let you do your own research.
https://www.wendywilliamson.com/wp-content/uploads/2024/03/Michael-Ruppert.jpg
Simply put, the cost of energy is suppressed by the debt. Fiat represents debt, as money of a system that is backed by debt. So if cryptos end up being bought by the government...and backed with treasuries...they are debt also. They've just jumped from one sinking ship to another that has a hole. So tell me how crypto solves the problems? When debt implodes, the cost of energy will explode. How does that work? Also there's the supply factor and something called EROI which is Energy Return on Investment. Explain how crypto works when debt collapses.
George Gilder would disagree that money is a representation of energy. Rather, it is a representation of time. The reason that government would purchase crypto is the same reason a government would purchase "precious metals." If government issued currency always falls to zero, it ought to be obvious that owning anything supported by government is a losing game. So tell me, what/who controls Bitcoin? Certainly no government controls BTC. Why would you refuse to own something that cannot be inflated? Who controls BTC? You do. You control your piece of the pie and if you put in cold storage, no one can take it from you, unlike gold or silver.
Agree to disagree on just about all of this. Time will tell all.
Also, check out Michael Ruppert. His documentary and book. He's the one who helped me understand that energy is money.
https://www.wendywilliamson.com/wp-content/uploads/2024/03/Michael-Ruppert.jpg
America is broke, just living on debt which is now $36.3 Trillion https://www.usdebtclock.org/ And just to put that number in perspective, it takes 31,700 years to count to ONE TRILLION, counting 1,2,3,4,5, etc. every second. Now multiply that by 36.3. It puts America’s bankruptcy in perspective. But as long as they can kick the can down the road, the games will go on. I personally think there could be an intelligence plan to pump crypto and back it with treasuries. They need suckers to buy treasuries (unpayable debt) when other countries stop buying. This means crypto could really go up a lot! And it will of course make things a lot worse. Unless they can sell more and more treasuries, exponentially, eventually the debt-backed dollar will implode. And if crypto is backed by the dollar? Well, bye bye!
So really all they have left are these kick-the-can games. Whether they are conscious of this or not, we don’t know. Is the pumping crypto to dump US treasuries a plan? Or stupidity? But you can be rest assured that no matter how high cryptos go, they are unsustainable and will leave many many people broken and in tears. Have they thought this through? Have they investigated? I don’t know. To me, it’s very sad. Let’s hope and pray for the best.