patrick.net

It is essential that we maintain the use of physical cash for privacy.

I reject digital currency. And anyone that wants to open a bank account and use their debit card exclusively for non private purchases can do so today without any issues what so ever.

I'm sick of assholes so dead set on making money on Bit Coin they keep shoving it down everyone's throats. Digital currency is for suckers and losers, the same fucking morons, that paid $550K for dilapidated crap shacks during the RE Bubble.

Tenpoundbass says

I reject digital currency. And anyone that wants to open a bank account and use their debit card exclusively for non private purchases can do so today without any issues what so ever.

"Today" being the key word in that statement. This has nothing to do with BTC/blockchain which in theory is suppose to work opposite. What is being spoken about here is CBDC "Central Banking Digital Currency" the final frontier and "Satan's New world Order"

Creepy Shiite.

Digital currency? What does this mean?

My take is that it allows the fed to directly 'give' $ to people by bypassing the middle men and the Fed Reserve Act.

Zimbabwe comes to mind.

Perhaps more insidious: A way for the govt to monitor and control people's lives. For example:

Robert (little bitch) Reich says this next election: "When Killary Hlinton wins in November we'll remember who voted against her and will confiscate their digital dollar wallets"

just_adhom_preaching says

Zimbabwe comes to mind.

I have a distant Irish relative who moved to Zimbabwe as an engineer on public works and got rich borrowing during their hyperinflation.

He borrowed a lot of money and then bought tangible assets like land, paying back the loan when the currency was worthless.

He loves it there, but I'd be nervous.

TrumpingTits says

Biden hacks are now promising a chinese/black mirror-type social credit tracking system when they get into power.

Can you share a link to this?

The main problem with a "digital currency" like bitcoin as money is not the scarcity, but the "store of value". What good is a hashed number? What can be done with it? The only store of value it has is as a distributed transaction record. And you can't make potatoes with a digital transaction record. In a modern and highly specialized economy, you can extract a minor amount of value from this, but there is a high tech barrier to entry that excludes the general population from making use of this value. Again a good form of money should be portable (yes), easily divisible(yes), have a natural scarcity(yes), and be a long term store of value (no). In addition, it's easy to lose and destroy or accidentally discard in an unrecoverable way. On top of that, we saw that other crypto currencies quickly filled in on the natural scarcity side of things.

Fortwaynemobile says

Digital currency? What does this mean?

Most likely they intend to take us into negative interest rates.

I've said multiple times, we had repo interbank loan failures in September of last year. Nobody is allowed to go bankrupt, as a result, more and more businesses have been going bankrupt over the last 15 years. Our entire system is bankrupt.

The democrat's solution was to go to some sort of BS socialism I think. Trump's plan seems to be extend and pretend. For those of you who are old enough to have been able to talk family members who lived through the Depression as adults, I hope you asked about it and listened.

Cash says

and BTW from what I understand Trumpy Bear is all for digital dollars

How did you come to that understanding?

Fortwaynemobile says

Digital currency? What does this mean?

It means they will have complete control over your money.

komputodo says

It means they will have complete control over your money.

And thus, my sudden curiosity for bitcorn.

Which has accelerated again post election. I suspect due to entirely different reasons vis-a-vis the stock market.

komputodo says

Trumpy Bear is all for digital dollars

How did you come to that understanding?

Trump hates crypto currency and would much rather have CBDC controlled by the F. Res. rewarding them with the spiffs that will come with low and eventual negative interest rates... Trump says he hates socialism, but he is to naive to understand he is welcoming just that with open arms dogging for those zero/-zero rates... As sure as you are alive today he will sign right up for CBDC if he is in office.

My current targets for BTC is $16,800+/-, a retest then onward to $24,000, interesting to me is my best guess target for XAU atm is $2400, then re-evaluate the situation at that time. BTC/ Gold ratio 1/10

Weird. My last post shows up at 6:37PM yesterday. I just posted it Now the following day at 8:28PM. I simply quoted my own post (which didn't work) so I'm sure that screwed something up.

No, today's post was just appended to my former post. Strange.

@just_adhom_preaching Could be a bug, but I don't see how at the moment.

No worries, point still stands.