RE: Bitcoin rises because land is becoming worthless
Appears that Armstrong replied to our comments which I had forwarded to him in email. He summarized most of our arguments in a QUESTION. I have some quibbles with his response though:
My skepticism of cryptos becoming the world monetary system is a question of political power, not technology.
It’s okay to be skeptical, but you have logical errors in your thought process.
They have already done the same thing to Coinbase. They have declared Bitcoin miners to be financial institutions the same as they did with me.
You’re referring to the USA and maybe at most the G20. There are many other nations and jurisdictions where the laws are not as onerous. Bitcoin can be mined and spent globally so the cryptocurency economy will employ jurisdictional arbitrage to destroy the West and their nonsense. We already told you that and you put in your QUESTION to yourself, and yet you choose to ignore that fact.
FinCEN already declared that miners are exempt for AML/KYC. They had to do that because there’s no damn way the government can enforce their laws against miners because miners will simply pick up their hardware and move to another favorable jurisdiction. The miners will move if the government forces them to do anything that is onerous to their profits.
This idea that we can overpower governments and eliminate central banks may sound great to some and no central ledger. What you are really advocating is a single currency for the entire world that eliminates governments. Do you really think they will just stand down quiet?
They’ll kick and scream and we’ll ignore them. This is checkmate for that nonsense.
That is why cryptocurrency will force the nation-states to agree to a world government so that the world government had a ubiquitous authority to regulate cryptocurrency globally. And this is why it is quite clear that those who created Bitcoin are the ones who want a world central bank.
So much for your theory that there are no such global elite.
None of the big IT firms are backing blockchain. This is the reason. You cannot dance with the devil and expect to win – IMPOSSIBLE!
They will initially employ the blockchain in ways that don’t offend the politics and nation-state power. But decentralized entities will become more powerful than nation-states in the coming epochal technological shift.
They put me in contempt under the theory that a corporation has no such right and thus me PERSONALLY was never in prison on contempt, it was the corporate officer. They play with legal fictions to accomplish whatever they desire.
They do and they will. But it won’t help them against a decentralized global phenomenon. How many years hence and the USA can’t even nab Assange and Kim Dotcom. How the hell are those nincompoops going to stop 1000s of people leading crypto projects in every nation on earth?
I released ONLY because it made it to the Supreme Court. Without that, they would have killed me in the blink of an eye.
Again we empathize with what happened to you. And we want to see you as one of the elders of our tribe. But you need to stop running scared, recover from your trauma, and start to be more logical about what is happening now with decentralization.
Btw, I think they released you in part because you were no longer a threat. The banking and Russia thing had already been swept under the rug sufficiently and bringing you to Supreme Court would have just brought it out from under the rug again. You probably were also released because you started writing and had so many followers while you were in prison, which included myself.
Your cryptocurrency is whatever they declare it.
Incorrect. Our cryptocurrency is global. Their jurisdicKtion is highly limited.
I fully understand that many as desperate to cryptocurrency will overturn the financial system. It is just not going to be so easy or without blood in the streets.
There you go slandering us again. We’re not desperate. We’re extremely confident, and rightly so. You’re often looking more and more like a scared dinosaur to us when you make comments which ignore the facts.
Yup there will likely be blood in the streets, because this is an epochal shift and socialism will collapse. But cryptos provide a lifeline to those who are awake. We hope you wake up too.
EDIT: Here’s an example of jurisdictional arbitrage in action with an Argentine bank defecting from SWIFT (archived)!
You tell ‘m, Anonymint.
Seconded!
Armstrong is claiming we will not be able to achieve the transition to decentralization and the Knowledge Age (the topic which I often spout off about) before the systemic global economic collapse:
[…]
Martin may be correct about the global economic collapse reaching a crisis point before our development of decentralization and Knowledge Age paradigms and economy is sufficiently matured and widespread.
Nevertheless I disagree with his implication that cryptocurrency and decentralization will offer no refuge from the coming crisis. And I doubt very much that the monetary reset will be that swift. Instead the crisis is going to lead to war and chaos for many years, because there’s no easy monetary reset which can recapitalize the West, because land and physical things are becoming worthless yet the world is heavily invested in the old industrial age fixed capital investments economy. This is an epochal shift and Asia will lead the way up in the Knowledge Age services as Asia bottoms in 2020 while the West will continue to fall over the cliff until at least 2024. The earliest time for a global monetary reset is 2024, as Asia has risen while the West continues to fall deeper into an abyss. It is that pain in the West that will set forth the willingness to handover power to Asia in a compromise for a monetary reset. Because all the capital is in Asia now, because the West is saturated with unfunded liabilities to socialism, welfare, entitlements of all forms, and horrible demographics with a bubble of 70 – 80 year old boomers and not enough youth with viable jobs going forward to sustain that system. The Western society has to be torn apart at the seams in order to restructure for a recapitalization that is sound.
In the meantime, globalized cryptocurrencies and decentralization will continue their exponential adoption and market capitalization growth. So monetary reset is plausibly just going to be a natural adoption of Bitcoin worldwide.
We’ll see…
Armstrong tried to conflate us with goldbugs and dollar haters again, even though I had already emailed him that we are more sophisticated than that and we support his theories on the imminent short dollar vortex collapse:
Armstrong continues to think tangible assets are relevant, and he doesn’t yet understand the epochal shift underway. We are moving to intangible assets. As he has written, the wealth of a nation is the productive capacity of its people. People produce knowledge and technology these days, not physical things. Physical things are being relegated to production by machines/robots, which will drive their cost towards zero relative to the value of the knowledge production in the economy.