Bitcoin & The Manic Bullishness Of The Crowds Struck Again (WAM/Jeff Berwick Talk Cryptocurrencies)

 The real problem is *bullishness*, when some capitalize at the top, the lower levels are left holding the bag. Bullishness should be regarded as a destructive illusion and people stay away from it. It is easy to point at the greed of others but willing to take out more money than what one puts in is endangering civilization more and more. 

 In this video, I sit down with The @DollarVigilante Jeff Berwick in Las Vegas, Nevada during Freedom Fest to talk about the future of the crypto-markets following the MASSIVE corrections we've seen recently. As Jeff points out, these corrections were necessary and helped calm  the markets. There were too many people rushing in and as with any  market, it became over-valued and took a much needed breather. Jeff breaks down exactly how he thinks this correction happened, what  it means and how this will affect the markets in the future. Jeff has some healthy skepticism surprisingly with the crypto-market,  but of course has been on the forefront of trending cryptocurrencies  since 2011. Ethereum does not appear to be heading in the right direction as of recently which rightly concerns many.  https://steemit.com/bitcoin/@joshsigurdson/the-future-of-bitcoin-and-steem-may-be-limitless-jeff-berwick-talks-cryptocurrencies#@earthcustodians/re-joshsigurdson-the-future-of-bitcoin-and-steem-may-be-limitless-jeff-berwick-talks-cryptocurrencies-20170727t012544475z

 Jeff is kinda disappointing when saying that "we can only assess a  bubble after it pops", actually I cannot believe he actually said that @  5:10mins! Using the *volatility argument" is ridiculous too, it is the bullishness  that must to stop. How can far the value can be stretched after all?  The mania of the crowds is nothing new. No monetary system is limitless. 

EXCERPT, SEE FULL ARTICLE HERE: http://www.earthcustodians.net/blog/2016/11/16/open-letter-series-the-subjectivity-of-value/

 The  most puzzling perhaps is that because value is entirely subjective, we  end up destroying the fabric of society trying to do good. Shocks to the  system happen because society resists Nature’s balance or perpetual  zero-sum game. As a result many must lose for a very few to win the  jackpot. Human history is dotted with economic crises wiping out middle  classes over and over. Social classes are but an illusion. Realistically  speaking, there is nothing wrong with money… until people begin to use  it for hoarding, getting whatever perks and free rides, creating and  sustaining cheap or slave labor, imposing price subjectivity behind any  market manias, accumulating power, which is why meritocracy  paradoxically rules over its own self-made servitude. So it all implies  that flaws are embedded in monetarism. Because value will forever remain  subjective, getting rid of money is the best solution – if supported by  the right social premises and mindset.  

Monetarism twists everybody’s mind 

As  a matter of fact, most people find economics such a big real headache.  They have difficulties to understand inflation and where it originates,  and why it is the root cause of all the world paradoxes they help  sustain. Market manias, also described as booms, wouldn’t exist if there  was ever a way to attribute the fairest prices to whatever is traded on  the market place. Unconsciously or not, people often thrive to inflate,  make things look better than they actually are – and this tendency is  driven by monetarism. Honesty is very rarely rewarded in such a  landscape and this implies that mistrust is rampant. Reality of Nature  is what turns any monetary theories into an unsolvable puzzle because  Nature tells us that profits are but an illusion. So is the widespread  thinking that the government borrowing power is supreme (social  programs, grants, student loans, medicare, standings armies, etc) which  in fact bankrupts the system, or condoning speculation (trying to get  more than what one puts in) at the core of the boom/economic crisis  cycles, which are real poverty machines and help transfer wealth in the  hands of insiders (the top 1%). Let alone currency debasement being 4000  years old already. Life cannot be monetized. Today’s real economic  black holes are world multinationals. Planned obsolescence is a  byproduct of consumerism to keep people into spending mode.  The  subjectivity of value is the main challenge people must come to term  with, and for a money-free society to win over. But it really is about  sensing versus knowing and knowing is more important that sensing.  Unfortunately, most people sense that they still can do good in a system  that is so blatantly beyond repair, meanwhile the big and objective  picture (real knowledge or lack thereof) is gobbling us up, every day  more and more.  

 Thank you for resteeming and upvoting these ideas, more people   have to know that there is a bold solution to embrace the end of   darwinism/competition that will be upon us in 10 years from  now.   The  Earth Custodians Movement is a futuristic endeavor for  humans who  want to remain humans and to spread the importance of  understanding   Objective  Reality for the sake of  peaceful sciences.