• Tag Archives Bitcoin
  • TOTAL WORLD GOLD & SILVER PRODUCTION: Fact vs Conspiracy

    Unfortunately for precious metals investors, there continues to be a great deal of misinformation about how much gold there is in the world. The biggest culprit that confuses precious metals investors is what I call, LOUSY CONSPIRACIES. Those who promote these unsound conspiracies aren’t able to differentiate between FACTS and FICTION.
    This will be a short post, but it is important as it will lay some ground work for articles to come out over the next several weeks in comparing the new Bitcoin-Crypto currency market versus the Gold and silver.
    While conspiracies do indeed take place, they are based upon sound reasoning and evidence that either proves a conspiracy has taken place, or proves the official story is bogus. On the other hand, lousy conspiracies are easy to dismiss when facts and sound evidence are brought forward. Unfortunately, even when the facts or the evidence is laid out step by step, those who either promote or believe these lousy conspiracies… continue to do so.
    This has to be one of the most frustrating areas of my research, writing and analysis. Why? Because, I receive emails at least once a week bringing up one of my favorite LOUSY CONSPIRACIES once again.

    This post was published at SRSrocco Report on AUGUST 19, 2017.


  • WORLD GOLD & SILVER PRODUCTION: Fact vs Conspiracy

    Unfortunately for precious metals investors, there continues to be a great deal of misinformation about how much gold there is in the world. The biggest culprit confusing precious metals investors is what I call, LOUSY CONSPIRACIES. Those who promote these unsound conspiracies aren’t able to differentiate between FACTS or FICTION.
    This will be a short post, but it is important as it will lay some ground work for articles to come out over the next several weeks in comparing the new Bitcoin and Crypto currency market versus the Gold and silver.
    While conspiracies do indeed take place, they are based upon sound facts and evidence that either proves a conspiracy has taken place, or proves the official story is bogus. On the other hand, Lousy Conspiracies are easy to destroy when facts and sound evidence is brought forward. Unfortunately, even when the facts or sound evidence is laid out step by step, those who either promote or believe these lousy conspiracies… continue to do so.
    This has to be one of the most frustrating areas of my research, writing and analysis. It seems as if I receive emails at least once a week bringing up one of the favorite LOUSY CONSPIRACIES up once again.

    This post was published at SRSrocco Report on August 19, 2017.


  • If the Lights Go Out, You’ll Want to Own Gold

    Imagine the financial chaos that would ensue if there was a widespread, long-term, power grid failure. Business would literally halt.
    Stop and think for a moment about how dependent the financial system is on computers. Banking, stock and bond trading, and the vast majority of our day-to-day transactions, rely on computer networks. Many people don’t even use cash anymore. Everything is digital. We even have wholly digital currencies like Bitcoin.
    We take these computer systems for granted. In reality, they put us at considerable financial risk. This vulnerability is another reason you should buy gold.
    During a recent interview covered in Forbes, Marc Faber talked about the importance of owning physical assets like gold and silver, and holding them outside of the banking system. He said the biggest geopolitical risk isn’t a conventional war. It’s a cyber attack that could take down the power grid.

    This post was published at Schiffgold on AUGUST 17, 2017.


  • Governments to Control Large Cash Transactions

    I have been pointing out the crisis we face moving forward. The gist of this is the total fiscal mismanagement of government for which we, the people, are always blamed. This hunt for taxes has led down the path of arguments for eliminating currency. While people think Bitcoin is an answer, they do not understand government’s hunt for taxes no less the lack of a true rule of law. The government need only pass a law that anyone who fails to report what they have in Bitcoin is criminal and they get to confiscate all your assets.
    Switzerland has its ‘wealth tax’ which they argue is nothing just 0.02%. However, it requires you to report all assets worldwide. They then know precisely what you have and it is merely one vote away at anytime to raise the tax or impose criminal penalties for failure to report everything. Yet, once Switzerland has that info, under G20 they must share it with all other governments.

    This post was published at Armstrong Economics on Aug 16, 2017.


  • Why Cryptocurrencies Will Never Be Safe Havens

    Every further new high in the price of Bitcoin brings ever more claims that it is destined to become the preeminent safe haven investment of the modern age – the new gold.
    But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a new technology, specifically the blockchain. Think of the blockchain, very basically, as layers of independent electronic security that encapsulate a cryptocurrency and keep it frozen in time and space – like layers of amber around a fly. This is what makes a cryptocurrency ‘crypto.’
    That’s not to say that the price of Bitcoin cannot make further (and further…) new highs. After all, that is what speculative bubbles do (until they don’t).
    Bitcoin and each new initial coin offering (ICO) should be thought of as software infrastructure innovation tools, not competing currencies. It’s the amber that determines their value, not the flies. Cryptocurrencies are a very significant value-added technological innovation that calls directly into question the government monopoly over money. This insurrection against government-manipulated fiat money will only grow more pronounced as cryptocurrencies catch on as transactional fiduciary media; at that point, who will need government money? The blockchain, though still in its infancy, is a really big deal.

    This post was published at Ludwig von Mises Institute on August 15, 2017.


  • Bitcoin Has No Yield, but Gold Does

    Last week, we said:
    It is commonly accepted to say the dollar is ‘printed’, but we can see from this line of thinking it is really borrowed. There is a real borrower on the other side of the transaction, and that borrower has powerful motivations to keep paying to service the debt.
    Bitcoin has no backing. Bitcoin is created out of thin air, the way people say of the dollar. The quantity of bitcoins created may be strictly limited by Satoshi’s design.
    We referred to the dollar as being borrowed into existence, to make our point that the dollar’s value is pretty firm, due to the struggles of the debtors. By contrast, bitcoin is created ex nihilo (yes, yes, at a limited rate and subject to an ultimate cap on its quantity).
    A reader took exception to the idea, and asserted that bitcoin is borrowed and lent all the time. We would like to address this, though first noting that this reader failed to address our point. A bitcoin is not, itself, a debt. It is not borrowed into existence. Now we will consider the reader’s point whether there is any real borrowing in bitcoin at all.

    This post was published at GoldSeek on Monday, 14 August 2017.


  • Futures Up, Gold Down With World “On The Brink”

    Despite the dramatic action in Bitcoin this weekend, it appears the world’s wise capital markets investors know just what to do faced with civil war in America, kinetic war with Venezuela, and nuclear war with North Korea – simple – Buy The Dow and Sell Gold…

    This post was published at Zero Hedge on Aug 13, 2017.


  • AHEAD: “BREAKDOWN IN FIAT CURRENCY SYSTEM” | Kenneth Ameduri

    The following video was published by FinanceAndLiberty.com on Aug 13, 2017
    CrushTheStreet chief editor Kenneth Ameduri joins FinanceAndLiberty to discuss the global economy. He explains the US has experienced the worst productivity in 35 years, and money printing has gone into overdrive.
    Where are paper currencies headed? “The world is looking for a free market alternative to be able to put their money in,” he says. This shift is why we’re seeing money flow into cryptocurrencies, gold, and silver. Bitcoin and other cryptocurrencies are “big competition for the Dollar, for the Euro.”


  • Could Bitcoin Help Venezuelans As Crisis Deepens?

    Protests continue to rage in Venezuela as inflation soars to unprecedented levels and the price of oil remains low. The country’s national currency is now worth less than fictional gold in Azeroth, the setting of the popular massively multiplayer online role-playing game World of Warcraft, pushing Venezuelans to bitcoin to hedge against the nation’s struggling economy.
    So, What Happened?
    Under President Hugo Chavez, Venezuela underwent a revolution, bringing social programs such as education and health care to the people, propped up by increasing oil prices. During his presidency, however, Chavez was accused of bending the economy for personal gain, human rights violations, and intimidation of the media. Price controls placed on basic goods, including food, initially meant to redistribute wealth and reduce costs, led to hyperinflation and shortages. Crime and violence also increased drastically under Chavez, leaving the country as one of the most violent in the world. Venezuela’s misfortune increased, however. In 2013, Chavez passed away and his Vice President, Nicols Maduro, took power. Worries of corruption mounted while plummeting oil prices created an economic climate which was less than desirable. Maduro’s inherited economic burden, in addition to the leader’s failure to diversify the country’s economy led to widespread protests in 2014.

    This post was published at Zero Hedge on Aug 13, 2017.


  • What Went Wrong With the 21st Century?

    Fools and Rascals
    And it’s time, time, time
    And it’s time, time, time
    It’s time, time, time that you love
    And it’s time, time, time…
    – Tom Waits
    ***
    POITOU, FRANCE – ‘So how much did you make last night?’
    ‘We made about $15,000,’ came the reply from our eldest son, a keen cryptocurrency investor.
    ‘Bitcoin briefly pierced the $3,500 mark – an all-time high. The market cap of the entire crypto market shot up, too… with daily trading volume also rising.
    ‘And remember, this is still a tiny market. Most people don’t own any crypto-currencies. Most people don’t even know what crypto-currencies are. The whole market is only one sixty-fifth the size of the entire gold market. There’s a lot of room to grow. Eventually, everyone will be using cryptos.’

    This post was published at Acting-Man on August 10, 2017.


  • Tom Lee: “Bitcoin Will Be The Best Performing Asset Through Year End”

    Fundstrat Global Advisors analyst and former permabull – who recently became into one of Wall Street’s biggest bears – Tom Lee, is a fan of bitcoin. The strategist, who recently turned “cautious on stocks”, explained his bullish view on the digital currency during an appearance Wednesday on CNBC’s ‘Fast Money,’ claiming that a single coin could someday be worth as much as $50,000.
    Starting with the fundamentals, Lee said that Bitcoin’s decentralized nature makes it a ‘good store of value.’
    ***
    This is why bitcoin could be the new gold, Tom Lee explained to CNBC.
    ‘We did a study and published it in early July…[bitcoin] has a lot of characteristics that are similar to gold and will ultimately make it attractive as an alternative currency. It’s a good store of value. The encryption and the distributed ledger not only act as a means of protection, but it actually has an industrial use that could be replacing a traditional payment platform.’

    This post was published at Zero Hedge on Aug 9, 2017.


  • SHOCKING COMMENTS BY TRUMP, STOCK MARKET UNAFFECTED | Rob Kirby

    The following video was published by SilverDoctors on Aug 9, 2017
    Rob Kirby returns to Silver Doctors to discuss recent geopolitical tensions. He says we’re “redlining” right now, but markets are practically unaffected. The U. S. Treasury acting in conjunction with the Federal Reserve is manipulating the markets, Kirby says. Why are so many oblivious to this manipulation? “Most people are not going to complain about a stock market that is higher than it should be.”
    But one market that is not manipulated is Bitcoin – and Bitcoin recently broke above $3000. “The cryptocurrencies are showing us what precious metals should be doing, and would be doing, if they were in a free market,” Kirby says.


  • New Cancer Treatment Using Gold May Spike Demand

    The following video was published by Peter Schiff on Aug 9, 2017
    Peter Schiff discusses promising new treatments showing gold and precious metals may help fight certain types of cancer, and what that means for the price of gold and silver. Also, why Bitcoin and other cryptocurrencies do not have intrinsic value nor are good for real money like precious metals.


  • Bitcoin Forked – Precious Metals Supply and Demand Report

    A Fork in the Cryptographic Road So bitcoin forked. You did not know this. Well, if you’re saving in gold perhaps not. If you’re betting in the crypto-coin casino, you knew it, bet on it, and now we assume are happily diving into your greater quantity of dollars after the fork.
    ***
    You don’t have a greater quantity of bitcoins; bitcoin has no yield. Bitcoin simply sells for a greater quantity of dollars now than it did before. But who wants to sell? Bitcoin is going to a million bucks – at least. So bitcoin, whatever it is, forked. Whatever forking is. To understand these two concepts, let’s consider an analogy.
    Picture a bank, the old-fashioned kind. Call it Acme (sorry, we watched too much Coyote and Road Runner growing up). A group of disgruntled employees leave. They take a copy of the book of accounts. They set up a new bank across the street, Wile E. Bank. To win customers, they say if you had an account at Acme Bank, you now have an account at Wile, with the same balance!

    This post was published at Acting-Man on August 8, 2017.


  • The Crypto Revolution to Sweep Away Institutions of Violence- Jeff Berwick on The Silver Doctors

    The following video was published by The Dollar Vigilante on Aug 2, 2017
    Jeff is interviewed By Elijah Johnson for The Silver Doctors, topics include: a huge surge of interest in crypto currencies, is it a bubble? attempts to control and shut down bitcoin, the beauty of a decentralized currency, government coercion, the threat they represent to existing power structures, remittance and banking greatly simplified and facilitated, addressing skepticism, risk and speculation, complimenting gold and silver, the biggest thing since the internet, the TDV Bitcoin seminar course.


  • Bitcoin, Gold and Silver

    Precious Metals Supply and Demand Report That’s it. It’s the final straw. One of the alternative investing newsletters had a headline that screamed, ‘Bitcoin Is About to Soar, But You Must Act by August 1 to Get In’. It was missing only the call to action ‘call 1-800-BIT-COIN now! That number again is 800 B. I. T.. C. O. I. N.’
    ***
    Is it about to go up? Maybe. We don’t know. And everyone should by now be skeptical of all ‘rocket to take off on XYZ date’ claims. Between them, surely these newsletters have predicted thousands of the past zero blastoffs of gold and silver since 2011.
    We have discussed bitcoin in the past, to argue that it is not money (a video here, and articles here and here). Bitcoin is not money because it is not a good. It’s just a number in a database. Money is a kind of good (genus). The most marketable kind (differentia).
    Money must be a good because we are physical beings in a physical world and final payment – which is not demanded all the time, or even often – must be a physical thing that you can hold and touch in your physical hands. Bitcoin is not a physical good, so it represents, not final payment, but intermediate payment. It is not final until you trade the bitcoin for a real good. In the language of economics, a real good has utility apart from one’s hope to exchange it for something else. Bitcoin has no utility apart from this hope of its value in exchange, its price.
    There is not one price but always two prices: bid and offer. When one has a thing and relies on someone else to buy it (or accept it in exchange), it is the bid price which is relevant. The offer price may be close above the bid, or it may be much higher. Typically sellers are reluctant to sell below their cost, but that has nothing to do with buyers. Buyers make a bid based on how they value it (or not).

    This post was published at Acting-Man on July 31, 2017.


  • Bitcoin, ICO Risk Versus Immutable Gold and Silver

    – Latest developments show risks in crypto currencies
    – Confusion as bitcoin may split tomorrow
    – SEC stepped into express concern over ICOs
    – ICOs have so far raised $1.2 billion in 2017
    – ICOs preying on lack of understanding from investors
    – Physical gold not vulnerable to technological risk
    – Beauty and safety in simplicity of gold and silver
    ***
    Editor: Mark O’Byrne
    Forks and ICOs solves bitcoin v gold debate
    There is still a huge amount of noise in the bitcoin and cryptocurrency space but there have been a few developments of late which have pushed the space further into maturity.
    From what I can tell from dinner party conversations people who are vaguely aware of bitcoin now know that there are two terms they need to throw into the chat in order to sound like they know what they are talking about. These two terms are ICO and Fork.
    Price is also a major talking point at present. As ever the price of bitcoin remains volatile and headline-worthy.

    This post was published at Gold Core on July 31, 2017.


  • How Bad Is Venezuelan Inflation? It Is Giving Bitcoin A Run For Its Crypto-money

    This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.
    Just how bad is inflation in Venezuela? A computer game with infinitely spawning enemies has a better exchange rate than the Venezuelan Bolivar.
    Venezuela has a staggering inflation rate. Thanks to Venezuela’s horrid fiscal and monetary policies. there are 8,493.97 Bolivars per US Dollar in the black market.

    This post was published at Wall Street Examiner by Anthony B Sanders ‘ July 29, 2017.


  • Keiser Report: Wall Street’s ‘Dean of Valuation’ (E1103)

    The following video was published by RT on Jul 29, 2017
    In this episode of the Keiser Report from Freedom Fest in Las Vegas Max and Stacy talk about Wall Street’s ‘dean of valuation’ declaring that bitcoin is replacing gold as the ‘go to’ trade in a time when investors don’t trust governments. In the second half Max interviews legendary investor, Jim Rogers, about China and Germany stepping up to lead the world as the U. S. retreats. They also discuss China’s One Belt, One Road policy and bitcoin as disruptors to U. S. hegemonic power.