Why I think the Galt Misses the Point on Decentralized rypto

Posted by CaptainKirk 1 year, 3 months ago to Economics
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I am 100% okay with getting flamed and being called names and told that this is all a big scam.
It has ZERO value, etc. etc. etc.

But please hear me out. In fact, I don't completely disagree with you, I started where you stand!

We need some form of money. Which must be a store of value (unlike the dollar).
And I ASK you to ignore BOTH the current instability of BTC pricing, and the difficulties in using it. [for now].

What were used, in the past, for money? (Glass beads, shells, various coins, etc. etc. etc.)
And what happens over time (People shave the coins (hence the ridges), people counterfeit the paper,
the English even came to an island with a bunch of glass beads. Bankers use inflation, and debt is used
to enslave us).

I am VERY confident that everyone here is a solid believer that GOLD/SILVER would work just fine.
(Even better if it wasn't so dang heavy... But I've seen plastic bills with pressed gold foil inside)...

The point is. WE NEED a money and a CURRENCY (something we actually spend) that we can TRUST.
We cannot Trust: CBDCs, the Dollar, etc. etc. etc.

But MANY people here REFUSE to consider trusting BTC, because it's "software".
The reality is. It is an IMPOSSIBLE to counterfeit currency. It's #1 drawback is that you can lose access to it because of some failure to keep the password. The #2 is the ability to have someone strong-arm your password from you... And I agree...

But in all honesty. I think if the Gulch [Which digital currencies allow to be geographically disconnected], used crypto as part of their "going on strike" from the rigged system... They would realize it solves a few problems.
Far more than it creates.

Yes, it requires Electricity, Internet, and Devices to transact. (Just like Credit Cards do).
And MAYBE we need some level of Coinage. I agree this is a weakness.

But here are the Strengths:
1) It's impossible to counterfeit! EVEN by Governments and by COURTS.
2) Once it's EVERYWHERE, it makes more sense to use it, then to try to go around it. [Chicken/Egg, I know]
3) It's trust is the SIMPLE fact that if you had MILLIONS in it, and you felt the network was at risk. You, too, could setup a few miners, to help keep the network DECENTRALIZED.

FWIW, I am not sold on PoS (Proof of Stake). This is where you put up money and you RISK that money to authenticate transactions... In such a way that if you try to approve (back door) a fraudulent transaction, your are penalized by having the money you Staked taken from you. [Reality: Some players have enough $$$ that they can afford to lose that money in order to "break" the system].

In PoW (Proof of Work), you solve tough math problems, and the first ones done get the reward (more coins).
This is why it is called Mining. You don't get an outsized amount of coins. In fact the difficult and price can be tracked. Miners are EFFECTIVELY Converting Electricity to Coins via a dollar cost averaging function. And this is a TOTAL DEMOCRATIC Approach. You join other miners, and you mine. You make some money for mining. But there are literally TOO MANY Miners for someone to sneak in and start trying to get "Bogus" transactions to be validated. Every ONE of these miners has EVERY TRANSACTION on them. The SECURITY is that the system is spread out. And that a bunch of RANDOM miners will have to validate your transaction.

Even China could not corner the market on mining in such a way as to corrupt it.

Yes. It is ONLY WORTH what the market says it is. BUT it is also back-stopped by what it costs to MINE new BTCs. Because if you are mining it, and it costs you $35,000 to mine 1 BTC. You have ZERO incentive to sell that at a loss. Much less a huge loss.

And I guess that's the final piece. It will be REALLY hard to manipulate when it is fully adopted.
Full adoption means the price fluctuations are gone.

Gold, Silver, Stocks, Bonds. These are all heavily manipulated.

And the final feature. Imagine the government tries to claim they lost 100,000 BTC last year,
and have no idea where it went.

Um, lets trace those transactions... AND Along the way, lets make sure that taxes were paid/collected.
Lets see. You gave a ton to XYZ Corp, what did they deliver? Where's the contract? (Oh, they were overpaid by 10x and didn't notice... LOL).

TBH... That final piece is why we should FORCE our government to use BTC.
And it's what I HATE about ME USING BTC... I don't want my transactions traceable like that.
But I would still want a Credit Card I use for transactions. And then Settle monthly for BTC.
The ONLY thing that would be public is I paid XXX Visa.

I think that's fine. But it still has a choke point. And that's the CC company.
BTC cannot be reversed. You spend it, it is gone. Escrow type services will be huge again.

Anyways. I throw these thoughts at this group.
Here are my questions:
1) If it were WELL ESTABLISHED and STABLE in it's value [changes would reflect the OTHER currencies inflation] and it proved to be a storehouse WOULD you use it then? (Why/Why Not)
2) If it guaranteed we could see where the government money was going, would you want the GOVT to be forced to use it?
3) What is a realistic Alternative? (That can't be counterfeited, and could you leave the country if all of your wealth was converted to that? Safely?)

Thanks in advance. I think this discussion is worth having.
And I have my concerns. But they are not with the safety/security of the asset.


All Comments


Previous comments...   You are currently on page 3.
  • Posted by nonconformist 1 year, 3 months ago in reply to this comment.
    The problem with gold is it undergoes supply/demand pressures. As the value of money varies over time, this creates price instabilities for everything else. Imagine Jeff Bezos figuring out and mining a gold asteroid. Or imagine someone inventing a device that turns lead into gold. This will allow these people to eventually own everything and the gold based money will hyperinflate. We don't really want that.

    What you want is to back your currency with EVERYTHING. That way, the value of your money is proportional to an average value of all wealth. If the difficulty of producing gold falls, it will just fall in value compared to everything else. Any parasitic actors trying to cheat the system aren't going to be able to do it.
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  • Posted by nonconformist 1 year, 3 months ago in reply to this comment.
    I'm not a professional economist, so, don't beat me up for getting something wrong.

    In my system, the item that backs the tokens will not be deliverable. The only requirement is that the same item cannot be tokenized a second time. The item's owner can continue to hold it indefinitely. I don't see any issues with fungibility of my tokens, the insurance companies will ensure it.

    Once the item is sold by the original owner, or the item is destroyed, something must happen such that the tokens (that were tied to the no longer valid item) get transformed into new tokens tied to some other item somewhere else in the system.

    If the item is sold, it is sold in exchange for somebody else's tokens. However, the original owner doesn't get to keep the whole payment. Part of the payment (tokens) go to annihilate and replace the tokens that were originally tied to the item. So, it works like a lien. If you sell a house that has a mortgage, you get some of the money and the lender gets the rest.

    If the item is destroyed, the insurance company that originally digitally signed the tokens has to replace the tokens that were tied to the original item. These new replacement tokens come from the insurance premium payments.

    All of the above complexity would need to be handled by software (and presumably happen on the blockchain). The compliance with the rules would be enforced by the protocol.

    Why should it be set up like this?

    I set out to re-engineer the financial system to solve a number of problems. One of the problems is inflation and deflation. The value of money should be as stable as possible. In order for this to be so, the value of all money (tokens) that exist in the system must perfectly balance with the value of all wealth. There are basically the opposite sides of an equation. Another problem that I would like to solve is the existence of parasites that profit off the inefficiency of the current system.

    The problem with bitcoin is that it has a fixed number of tokens. As more and more people start using it to exchange more and more goods, the value of bitcoin increases. This causes crazy swings in bitcoin price. This creates huge inefficiencies in the system. Bitcoin is no good. We need something as stable as possible. Additionally, there is a bit of unearned wealth transfer that happens in the direction of hodlers. Fuck that shit, those parasites shouldn't be getting anything. The only people who should be allowed to receive monetary wealth are the people who produced actual wealth.

    The problem is reversed with fiat. It can be 'printed' and 'destroyed' on a whim (loans and repayment, etc). This also causes swings in price of money. Worse, some people are allowed to print without repayment, such as central bankers, etc.

    The problem with gold based money is that you now need a whole industry (gold miners) to work really hard and produce all the gold that is needed to have enough monetary base to allow transactions to happen. This is really wasteful. Gold value has swings too as gold demand changes vs other goods.

    The problem with having a monetary base is that it creates supply/demand for money. We don't really want money supply to get in the way of our production.

    What I did is I redesigned the whole idea of money from scratch by inverting the concept. In my system, the total value of all tokens that can ever exist can never exceed the value of all real wealth that currently exist. That is how you keep the prices stable. The tokens are basically IOU notes backed by property of the debtor insured by an insurance company. Everyone has the right to mint these, and there are no people with special privileges in the system.

    I would like to discuss details of this idea with anybody interested in debating for/against. However, I do want to point out that I didn't fully work through all the possible issues with it and it is still very much work-in-progress.
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  • Posted by 1 year, 3 months ago in reply to this comment.
    So you know they OVER PRINTED to the point that we could not HONOR the slips of paper in exchange for the Gold they represented.
    This was a DEFAULT on our debts.
    We failed to return the GOLD back to people who gave us Gold for the pieces of paper..
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  • Posted by Dobrien 1 year, 3 months ago in reply to this comment.
    I respect your point of view and appreciate the discussion. Transparency is part of MAGA. Q has said it’s the only way forward.
    I can tell you Ukraine put up to $50,000,000,000. In to FTX as an investment in Bitcoin. It was then laundered back to US Politicians. James O’Keefe and OMG exposed how this occurred. On FERC website political donors are listed by zip code and their donation amount and date of donation. Millions of American giving donations of for example $1.67 then $1.36 and 3.87 all in the same day and up 40 or 50 donations per week for some names. Clearly a software program was used to spread out large amounts to be spread amongst many thousands of unwitting donors. These donations , the lions share went to Act Blue. Or thousands of Wisconsin residents donated to the opponent of Herschel Walkers senate race in Georgia. Really . I recognize that Crypto was not exactly exploited for this fraud and Money distribution . Many fraudsters are blackmailing folks and they require crypto payments. Oh well. I can get on board with a crypto if it is backed by some value. The
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  • Posted by Dobrien 1 year, 3 months ago in reply to this comment.
    If he could have currency tied to Gold or Silver he would not have to transport the weight if the metal. Silver certificates. Gold certificates. A country that will virtually starve you out for not complying is a problem humanity has had to deal with because the Bloodline families for all of history. These deletes see us as chattel , as slaves. We are all being enslaved by taxes and theft by these MotherWEFers. We have to make a personal decision , I will die on my feet rather than live on my knees. The first step to tyranny is compliance.
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  • Posted by Dobrien 1 year, 3 months ago in reply to this comment.
    Yes the old system was set up to fail by the Banksters. What failed in the 70’s ? Actually Gold did not fail when the dollar was pegged to gold. Creating more currency with out having a compensatory increase in Gold reserves is what failed. Criminals running the Ponzi scheme is what failed. Worse in my opinion was the failure to defend against to the continued ability to infiltrate our government after the Coup de Tate with Kennedy. Kissmyassinger and Bush started the US’s drive off of the cliff. I will plant this truth seed, these 2 may be amongst the most EVIL motherWEFers to have walked on this planet.
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  • Posted by 1 year, 3 months ago in reply to this comment.
    "All money is a CLAIM on future goods." - I would disagree with that. In my system, all money (tokens) would be claims on some already existing property

    And the problem is the question. WILL it be delivered? Can it be levered?

    The reason we call it a FUTURE claim, is that it is ONLY a representation, until you turn it in. THEN it is a claim. Making it a FUTURE claim, or a claim on a FUTURE asset.

    Because someone can resolve it with EITHER the exact asset (by serial #), or by an effectively SAME/SIMILAR asset (by weight, purity, etc).

    If it loses fungibility, it doesn't make a great currency, although it could still be "money".

    I could foresee these crooked bastards paying you in MOLDY grain... Because that is the exact serial # of grain you had control over. Whereas a futures contract of grain has some well-defined values, but are highly levered.

    Futures Contracts on Farmers Products are a good test example to put your concept through a test with. How would I do that, so that the farmer can cash out a little bit up front, and cover his costs as the year goes on?
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  • Posted by 1 year, 3 months ago in reply to this comment.
    This is part of the problem.
    I tried my hand at trading, until I saw how they rigged things.

    This particular day, I was recording my screen. And I showed my brokerage what transpired. The market flew over my order and filled orders way below me. Then skyrocketed higher (my expectations). But I did not get to go along for the ride...

    They reviewed the video and the "tape" (this was F/X)... And they said:
    1) The market went into "fast mode" where they cannot guarantee the spread (bid/ask)
    2) Even though they moved 20 ticks past me, it was WITHIN the bid/ask spread, so there was no need to fill my order!
    3) Our policy states that you have an 4 tick spread MAX UNLESS the market is in "fast mode".

    ROTFLMAO. Effectively they said. We can steal from you, whenever the computer sees an opportunity to steal, but declaring "fast mode" before we steal, and then going back to normal once control is established.

    I talked to an actual CME trader who said on his device he has a feature that tells him the RISK & REWARD of slamming the market X points in either direction, based on the stops they can trigger.

    I packed my bags and moved on. These people have rigged every game in town.
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  • Posted by 1 year, 3 months ago in reply to this comment.
    You realize that SOME Countries actually made it illegal to SHOP without the vaccine. Moving because of being threatened with being locked up or get forced vaccinations is the more appropriate description.

    And, had he done that, he creates a TAXABLE event that is quite large. And pays a fee on those ounces as he converts them.

    Then he pays the fee again in the future.

    I just looked at APMEX a fair source for Silver.
    The cheapest you can pay is $1.79 OVER SPOT per ounce.
    But many fees are 2.00 MORE than that.

    for the most part, it's about 10% of the price of silver to re-purchase your silver.

    You would HONESTLY sell that kind of weight, pay the fees to the person you sold to (bid/ask spread, and their per ounce fee)...
    THEN pay the income taxes on the gains.

    Then re-purchase on the other side, at about 10% (basically spending 50 lbs only on the BUY side of Silver).

    Heck, I suggested he CAST it all into some kind of Statue, and ship it like it was nothing. But then that turns it into SCRAP silver, and destroys what he gets on the other side (if/when he sells).

    I think you are not considering the scale of the problem. It's easy when you are broke to take all of your belongings. Nobody cares.
    It's even easier if they don't know, or it's completely digital.

    The problem is our governments. That CREATE These difficulties... Not the person who amassed a bunch of silver/gold over his life. And then realized his country was going totalitarian on the people.

    We came close in the USA, and I do NOT think it was an accident!
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  • Posted by 1 year, 3 months ago in reply to this comment.
    Actually, history showed that it failed in the 1970s (caused by the Federal Reserve and Leverage).

    They TIED the dollar to Gold.
    And they PRINTED like drunken sailors.
    Until France did the math, and tried to get their gold back. And we reneged!

    Gold has failed every time CURRENCY/SCRIPT/PAPER that represents it, that can be counterfeited (even if the government considers their counterfeiting LEGAL inflation).

    This is why it MUST be digitally ENCRYPTED/TIED to a public block chain.
    Because Counterfeiting/INFLATION becomes impossible.

    That's all we want. Some form of currency without FAITH that our CORRUPT overlords will not lie to us if/when they want...
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  • Posted by 1 year, 3 months ago in reply to this comment.
    Dobrien, you know I respect you... AND I want to have THIS discussion, so bear with me. Great points.

    1) The bankers or CIA could be behind this (and this might have been a dry run to work out the bugs). I will give you that!
    2) I 1,000% disagree that it has NOTHING behind it. It has SOURCE Code, which we can all read. And the ecosystem of Miners that prevent a single entity from controlling it. We know that MORE BTC cannot be created out of thin error (It can NEVER be devalued via inflation).
    3) Money Laundering? HA. (this is a Deep State Lie/Message). Because it is 100% transparent as to the transactions (albeit anonymous enough)... If you are DUMB enough to use BTC to commit a crime. ONCE someone rolls over on you, or once they trace your withdraws to such transactions... YOU are TOAST. Your entire LEDGER of transactions. Everyone you paid via BTC become well known. IMNSHO Only MORONS would use BTC to launder money.
    If you want to LAUNDER MONEY... Use UBC or any other large bank. They take their cut, and NOBODY ever gets "caught" and goes to jail, loses their assets.
    4) But realize... We can identify a lot of details b/c of the crypto in Ukraine. Please tell me how many of our weapons were sold on the black market for $ and how much $? Who (or which wallets) transacted in this way?
    This is the whole point... Government should have to pay in BTC for everything, so we can trace it
    5) It's harder to shut down than that. But the Courts have already ruled it is PROPERTY (UNLIKE your Dollars)... And shutting down peoples ability to access their property will force people to leave to countries where their property has value, and court cases back home.

    Thin Air Doesn't Cut it. True. But I think you are trying to say "Pure Faith" doesn't cut it.
    And when it comes to that. I think BTC wins.
    If you own BTC, and could trade freely with it, WITHOUT government being able to stop you.
    And with the knowledge that the Central Bankers can be side stepped... Would you use it?

    the CBDC is thin air, and worse. They can change the algorithm any time they want.
    We know this.

    But the opposite of CBDC is simply DDC (Decentralized Digital Currency).
    Again, even if ONE country says "No BTC"... You still own your BTC.
    You have the option of leaving. And they can no longer tax it.

    I appreciate your thoughts, and I cannot disagree with all of them, or the fact that there is RISK HERE. There is! But there is risk in everything. Including the government making it illegal to have any SILVER, GOLD (Already done), Guns/Ammo (Done so many times throughout history...), land, specific land.

    Just as I would NEVER recommend someone replace 100% of their dollars, or go 100% into GOLD or SILVER or LAND, or what not. I do not advocate putting ALL or more than 10% of your wealth into BTC.

    The FACT that they allowed BTC ETFs tells us 3 things:
    1) It is here to stay [because stopping it now would break stuff in bad ways]
    2) They are going to sideline it into an investment over a currency and play games to make it difficult to transact in...
    3) They REALIZED. They CANNOT just turn it off. It would cause a Galt like Strike.

    500 years from now... I will not be around. But I hope people are living CLOSER to nature.
    And I don't see the little people putting up with more and more CBDC style control.

    Getting with the BTC idea... Is exactly the difficulty in swallowing the Red Pill in the Matrix.
    And the Gulch's approach of leaving your wealth behind, and starting again, with just WHAT YOU bring to the table...

    Thank you for your points...
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  • Posted by Dobrien 1 year, 3 months ago
    In 1964 Minimumwage was $1.25 per hour 8 hrs you Earned $10.00 or ten silver dollars. A silver dollar contains 0.7735 troy ounces of pure silver. With silver at $23 that means the dollar is worth 17.80 times 10 is $178.00 that equates to $22.25 per hour. Or $46,249 per year.
    BTW good luck trying to buy a silver dollar for $17.80. A common Peace Dollar sells for about $25. With a sell to us price of $18.74. Quite a spread between the Bid and ask but the bid is higher than the silver content value.
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  • Posted by Dobrien 1 year, 3 months ago in reply to this comment.
    Moving because of COVID? Well that sounds like a stupid thing to do. Why didn’t your friend sell his “a lot” of silver and buy back when he was at his new location. Does not make sense to me.
    Silver holds the value, the cash is the reflection of that value. Silver is for saving to be used for future purchases. If and when we are back on a constitutional currency you will be able to transact in silver ,but no need than ,except for coins.
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  • Posted by Dobrien 1 year, 3 months ago in reply to this comment.
    I suspect that gold tied to dollars or crypto will increase the value of the dollars based on steady demand for gold . Peg the dollar to a weight of Gold/or / Silver. It’s worked for Thousands of years. As the fiat currency constantly shrinks in value Gold and Silver even when artificially depressed has held its substantial value.
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  • Posted by Dobrien 1 year, 3 months ago in reply to this comment.
    Yes , to defeat your enemy you must identify them.
    The enemy is a Satanic Luciferian Genocidal Globalist Peedo Bankster Cabal of Prussian origins.
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  • Posted by Dobrien 1 year, 3 months ago in reply to this comment.
    I am not sure that the bankers were not behind BTC. It still is an asset with nothing behind it. The Banksters want to create a CBDC , BTC has been a
    Pioneer in Digital Currency and in someways paving the path to CBDC. The last few years has shown it to be a money laundering machine . ThinQ Ukraine and FTX as one example. BTC also sucked massive amounts of potential precious metal investment.. Silver and Gold prices have been intentionally suppressed by the Bank cabal. Yet banks have been buying Gold in record amounts hmmm is that good timing or manipulation. Speaking of deep state , Jamie Demon of JP Morgan said in Davos that the Government should just shut down Cryptocurrencies and employ CBDC. Bankers will never be out of the Money system they will evolve to whatever system is adopted. Bankers should never have been allowed to own the FED. We need to get back to constitutional money or digital currency backed by Gold or Silver or other value. Thin air doesn’t cut it.
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  • Posted by nonconformist 1 year, 3 months ago in reply to this comment.
    My opinion on limiting it to gold is that doing so creates unnecessary demand for gold, which is an inefficiency in the system. I would prefer that ALL long term stable wealth be tokenizable.

    I would also prefer that these tokens only exist short term. Let's say you have some wealth and you want to temporarily spend it. What you do is you digitally mint tokens (after previously jumping through some hoops to get it insured and verified) and you spend the tokens. Then, after some time, you perform some service or create some product that you sell to someone else, which grants you somebody else's tokens. What then happens is that the tokens you've previously given out get annihilated by the tokens that you've just received, the person holding your tokens gets those tokens you've just received and you get the claim on your initially tokenized property released. So, these tokens would not be permanent. You only use them to settle debts. Once the debts are settled, the tokens are annihilated. If you never settle the debt, when you die the property is sold and the tokens get annihilated as part of the estate reconciliation. If the property loses value, the insurance is on the hook for it. You will need to pay (with tokens) for insurance policy on the property for as long as those tokens are out there.

    So, what I would like to see is non-permanent monetary base. When all the debts are paid back the amount of tokens in the system would be zero.

    "All money is a CLAIM on future goods." - I would disagree with that. In my system, all money (tokens) would be claims on some already existing property, same as with gold-backed money, paper notes being claims on EXISTING gold in a vault.

    My system is very efficient. It cuts out the banker parasites with their fees. And you already pay for insurance on your house and gold vault storage costs anyway. Might as well use that as your credit card / line of credit. There would be no token price fluctuations because the insurance companies will be responsible for holding the value. And no more parasite traders extracting value from artificial self-induced price fluctuations (pump and dumps?).
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  • Posted by 1 year, 3 months ago in reply to this comment.
    They have this for Gold. Your specific coin is tied to an actual ounce of gold, registered and audited.

    The only way to create "new" tokens, is the associate them, permanently with a specific oz of a serialized bar of gold.

    You can then SETTLE your "claim" by transferring your claim on THAT ounce for a another ACTUAL Ounce of Gold.

    And that reminds me...

    All money is a CLAIM on future goods.
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  • Posted by nonconformist 1 year, 3 months ago
    I propose something like BTC but with tokens representing partial value-equivalent claim on physical wealth in the real world.

    The physical wealth must have the following properties:
    1. difficult or impossible to destroy
    2. existence and ownership publicly verifiable
    3. does not decrease in value, or decreases very slowly

    Some examples are:
    1. Land (owned outright)
    2. Gold/metals (assuming you can publicly verify that the bar is in whatever vault)
    3. Stock in a public company (assuming you can insure it against collapse in value)

    The tokens must then be insured by a third party (basically an insurance company) trusted to make holder of token whole in case of destruction of the physical wealth the token is tied to, or collapse in value of the thing. The tokens must be tied to only a part of the whole property to avoid issues with price fluctuations of that property. The tokens are basically liens and must be exclusive, no other token (or external lien) is allowed to be tied to the same physical thing. The tokens will also need to auto-merge (annihilate) when A owes B x and B owes A x. I don't have all the details on the exact protocol that will make all this practical, but I have some workable ideas.

    This will make the price as stable as a rock (because the token will always represent the exact amount of value it is tied to). It is basically the same system as gold based money, but decentralized and expanded to work for any acceptable physical wealth. This will also transfer money printing ability to the rightful party - the person creating/holding the wealth, not some lame ass parasitic miner or predatory state.
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  • Posted by 1 year, 3 months ago in reply to this comment.
    We are on the same page, as usual, FFA.

    The point is that the "exchange services" come at a fee. My wife bought a gold coin. Paid $85 "fee", and bought at the ASK. Gold moved up $15/oz. She asked what she could get for it. When I explained she sells at the BID, and they charge another FEE to sell it. She was LIVID.

    She realized. Actual GOLD has to go up enough to cover the handling fees. It's not to be traded lightly... But 90% of people can't do the math until the math hurts them, LOL.
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  • Posted by freedomforall 1 year, 3 months ago in reply to this comment.
    Lose? With the current demand for silver, I think you'd lose very little.
    You might in fact gain as silver coins often sell at a premium greater
    than gold coins to spot. You might get a heck of a back ache in the
    short term though delivering. ;^)
    I agree there's a good argument for all the things in your list (plus
    vitamins, plants, seeds, water purification, energy generation, and
    non-prescription med treatments.)
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  • Posted by 1 year, 3 months ago in reply to this comment.
    Of course. But if you started with 500lbs of silver, how much would you lose exchanging it for that gold?

    But I think there is a place for a little of everything. Gold, Silver, Lead, Brass, Crypto, Paper, Coins. Goods, skills. Books, Knowledge...
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  • Posted by freedomforall 1 year, 3 months ago in reply to this comment.
    Well, leaving with the equivalent value in gold (about 83 oz) instead of 500 lbs of silver would not be difficult at present.
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  • Posted by 1 year, 3 months ago in reply to this comment.
    Actually, NOT REALLY. Being 100% decentralized, the best they could do is to put up ROAD BLOCKS.

    First, Use the Dark Web. (When the govt goes "there", we have to go "THERE")...
    Second: Move. use your device in a country that is not stopping you. (AND magically, your old country can't stop you from accessing your BTC from that new country).

    try leaving the country with 500 lbs of Silver.
    Versus a partial key that decrypts a file already waiting where you are going. Stored in some arcane file on your phone (me, personally encrypted into an image), others with hardware devices, etc. etc. etc.

    The government cannot shut down the Dark Web. I wonder why? Because the IPs are indistinguishable from "normal" ones. It's the Dark DNS and knowing how to navigate that makes the difference.

    BTW, how long after they do that, before someone offers an alternative internet? (The rebirth of AOL? LOL) These things are hard to shut down... WHEN the government needs them to do all of their evil tracking...
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