This rather childish video appeared in 2014 explaining how fake money could be real money without telling everyone that anything (sports bubble gum cards, old postage stamps, illegal drugs) could suddenly shoot up in value and many lunatics would demand to pour in endless money into things that have little intrinsic value unlike say, land or bread which keeps us alive. Fake or cheap stuff fads are common and all follow the same track: up and up and up and then bouncing at the top for a while, up and down and then collapse to nothingness. Tulip bulbs, for example, did this but even they have some real value as beautiful flowers. Not bitcoins which are true nothingness, not even the value of old coins to keep alive.
The notoriously volatile cryptocurrency, whose 160 percent surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet.
It is doing what all worthless things do: people run off to some other fake money making scheme because this is easier to do than actually make value-added stuff that requires materials and labor and moving it physically from point A to point B.
Blame the bitcoin civil war. After two years of largely behind-the-scenes bickering, rival factions of computer whizzes who play key roles in bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month. That has raised the possibility that bitcoin will split in two, an unprecedented event that would send shockwaves through the $41 billion market.
HAHAHAHA. It is doomed to ‘spit in two’ and then ‘a thousand flowers bloom’ and then ‘utterly fake fake money’ etc. It is inevitable and some people came here to mock me for explaining why this would happen.
While both sides have big incentives to reach a consensus, bitcoin’s lack of a central authority has made compromise difficult. Even professional traders who’ve followed the dispute’s twists and turns aren’t sure how it will all pan out. Their advice: brace for volatility and be ready to act fast once a clear outcome emerges.
“It’s a high-stakes game of chicken,” said Arthur Hayes, a former market maker at Citigroup Inc. who now runs BitMEX, a bitcoin derivatives venue in Hong Kong. “If you’re a trader, there’s a lot of uncertainty as to what happens. Once there’s a definitive signal about what will be done, the price could move very quickly.”
The only survivors are the ones who have bailed back when I warned what would happen next. Now, it is ‘let’s not lose everything’ time and ‘the last man out is the one who is bankrupt’ stage is next. A lot of people will be badly burned and I think they deserve all the cooked limbs and smoke and fire.
Look, one can fool people for a while. Sometimes, lots of people. But the minute even fools can figure out they were scammed, then the end comes swiftly. Right now, many fools are hesitating hoping that lunacy can continue forever.
It never does. The gods and goddesses find humans too amusing to let them run scams forever. Even long running scams (called ‘religions’) can run a long time but history tells us even the old ones like the Egyptian ones, finally die. They all die or are reborn in new forms usually, many humans die when they die.
Fake money kills, too. It kills a lot of humans. Millions die because of fake money. Governments also make fake money. Ancient Rome, when it destroyed the currency, died violently and pretty thoroughly in the West. Money totally vanished in England.
Well, so much for fun and games. Just remember, when these sort of games end, lots of people die. This is why I dislike these games. Oh, by the way, the G20 announced that the remaining nations pretending there is global warming, will continue to commit mass suicide despite Trump saving us from this horror.
I am watching with fascination as Europe commits suicide. Well, they deported me back in August, 1968. HAHAHA. Tough luck, homeys.