The ramifications of blockchain technology?

jamest · **#841** by **jamest** » Dec 05, 2020 2:06 am

Thommo wrote:
jamest wrote:
Thommo wrote:
jamest wrote:At some point here, presumably within 2021, I will either (as promised in 2019) concede that I've been a dick, or will be here DEMANDING that the likes of yourself and Thommo state that you are dicks wrt everything I've said here.

Not sure what this has to do with me, but since the deadline for your prediction of $100k bitcoin within a year and a half after the start of the next bull run has already been and gone I won't be holding my breath. Never mind all the Catalonia stuff (your opening post in this thread has really not aged well) or the rest of the covid nonsense you predicted and started to associate with this.

Another load of bollocks. The 'next' bitcoin bull run didn't start in February 2019...

We've had this conversation before.

Between 24th March 2019 and 23rd June 2019 Bitcoin prices surged from 4,106 to 11,959, an increase of 191%, you acknowledged, openly in this thread that this was the bull run you had foreseen:

jamest wrote:a) The bear market-cycle has bottomed and almost certainly over.

jamest wrote:Bitcoin is atm $8200. It broke through the 6+k level like a knife through butter, which shocked me too. The realism now is that this is now the beginning of the next bull market. The value of BTC might go down a bit from here, but a new upwards trend has been established.

More than 18 months have passed since 24th March 2019, and indeed since each of those acknowledgements you made that this was indeed the "next bull run".

Buying near the end of a bear market which began in January 2018, which I did in February 2019, is a fact. Anybody who had followed my advice back then would be significantly richer, fact. You could have shaved close to 10% off that February price in December of 2018, iirc, but I too missed that boat whilst I was researching this investment.

AT NO POINT at that early time did I indicate that THIS was the start of the next bull-run.

It is a FACT that bitcoin didn't reach highs into the $8+K region in 2019 until JUNE.

If I did declare June 2019 (not fucking February of 2019, as you are lieing about) as the start of the bull run for bitcoin, 18 months after that is December 2021, precisely when I expect bitcoin to have exceeded $50K.

What's your fucking point pal, other than telling porkies and lieing to avoid apologising to the members here for looking like a cunt, which you will be by the end of next year. Who knows, by that point maybe I can start publicly advocating that you be banned from here for acting the cunt, just like you did to me? Irony hey, you gotta love it.

Hermit · **#842** by **Hermit** » Dec 05, 2020 2:09 am

jamest wrote:An absolute gem, decided to share. Serious/institutional investors are now taking bitcoin seriously, I shit you not. Please watch, for your own benefit.

https://youtu.be/TqCbnQ_5dBA

Your enthusiasm in regard to cryptocurrencies is touching, but I do not possess an even remotely sufficient amount to watch 80 minutes of people talking about it on Youtube. If, as you predict, billions of people die as a result of an economic catastrophe, the means of using such currency, the internet, will cease to exist. We'll be back to small, relatively isolated communities. What will remain in terms of long-distance trade will consist of bartering tin plate for wine, or something like that.

jamest · **#843** by **jamest** » Dec 05, 2020 2:15 am

OlivierK wrote:
jamest wrote:
OlivierK wrote:Jesus you can be dense, james. I don't measure my worth in dollars - if I did, I'd be working to earn more instead of being happy with what I have. I only mentioned it because YOU tried to make a comparison after measuring your own worth in terms of your returns from your BTC speculation.

You got your dick out and boasted about it. It's there in black and white, a few posts above, fact.

No james, you were the one boasting:
jamest wrote:Instead of boring the arse off of me, why don't you explain to the members here precisely why you're being arrogant and grumpy whilst my portfolio for the last 18 months has made my dick look four+ times bigger than yours.

You were the one talking about my dick, and even then, rather than get mine out, I simply did enough to hint to you why you might not want to keep going down the road YOU chose.

Look, I'm glad for you that your BTC position is up at the moment. Just be happy with that.

I'm not here to boast about anything. I'm here to help people. If I can make certain people like you and Thommo look like mugs, that's just a bonus. But what bugs me most is that people like you and Thommo, constantly taking the piss out of me about any subject you could care to mention, have potentially deterred numerous people from benefitting from my membership here in this forum.

For that fact, the fact that you and your ilk have belittled me from the onset, you will have no forgiveness, ever. So, go take a walk, I don't give a shit.

jamest · **#844** by **jamest** » Dec 05, 2020 2:40 am

Hermit wrote:
jamest wrote:An absolute gem, decided to share. Serious/institutional investors are now taking bitcoin seriously, I shit you not. Please watch, for your own benefit.

https://youtu.be/TqCbnQ_5dBA

Your enthusiasm in regard to cryptocurrencies is touching, but I do not possess an even remotely sufficient amount to watch 80 minutes of people talking about it on Youtube.

At the age of 67, you have no time to watch an illuminating 80 minute video? Don't fucking bullshit me, squire.

I sincerely hope that you live to be 100+ years of age, since I bear no grudges and will continue to talk to anyone here regardless of how they treat me, but rooting your mind in the past is a disease which has afflicted humanity throughout the ages. I'm no spring chicken myself, but was certainly open-minded enough to research this stuff.

Perhaps you think that you're sufficiently close-enough towards the end of your life that it won't affect you directly, but I'm guessing that you have a family? I mean [for example] I have a 14 year-old daughter, and my investments are her investments. So unless you're a an actual hermit, which I would happily respect as a life decision/philosophy, you have more to think about here beyond yourself.

If, as you predict, billions of people die as a result of an economic catastrophe, the means of using such currency, the internet, will cease to exist. We'll be back to small, relatively isolated communities. What will remain in terms of long-distance trade will consist of bartering tin plate for wine, or something like that.

The governments of this 21st century world will not get rid of the internet and electricity, for that is what fuels their own power. Whilst billions of people MAY die in an economic catastrophe, it will only be poverty and food shortages which will cause that, regardless of whether there is electricity and wifi.

I acknowledge that I did say [several months ago] that a few billion people could die in the medium-term because of the far-left overreaction to covid-19. Given what I've seen since that comment, I see no reason to amend that statement at this moment in time. Seriously.

Hermit · **#845** by **Hermit** » Dec 05, 2020 3:38 am

jamest wrote:
Hermit wrote:
jamest wrote:An absolute gem, decided to share. Serious/institutional investors are now taking bitcoin seriously, I shit you not. Please watch, for your own benefit.

https://youtu.be/TqCbnQ_5dBA

Your enthusiasm in regard to cryptocurrencies is touching, but I do not possess an even remotely sufficient amount to watch 80 minutes of people talking about it on Youtube.

At the age of 67, you have no time to watch an illuminating 80 minute video?

I did not write that I have no time to watch an 80 minute video. I wrote that I do not possess an even remotely sufficient amount of enthusiasm to watch 80 minutes of people talking about cryptocurrencies on Youtube.

jamest wrote:
Hermit wrote:If, as you predict, billions of people die as a result of an economic catastrophe, the means of using such currency, the internet, will cease to exist. We'll be back to small, relatively isolated communities. What will remain in terms of long-distance trade will consist of bartering tin plate for wine, or something like that.

The governments of this 21st century world will not get rid of the internet and electricity, for that is what fuels their own power. Whilst billions of people MAY die in an economic catastrophe, it will only be poverty and food shortages which will cause that, regardless of whether there is electricity and wifi.

You seem to imagine that governments, the economy and the means of production will manage to function the same as before the death of billions of people, albeit on a reduced scale.

I can imagine that electricity production will be possible here and there. Small power plants are not that complicated. If necessary steam engines connected to jury rigged turbines will do the job in a worst case scenario. The maintenance of a global internet is another matter. It's not a case of simply puttering along with half the currently operating hard disks, optical cables, servers and so on.

When 3.5 million humans have perished and most of the rest are desperately struggling for survival, governments as we know them today, will be gone. Nations will fracture into small communities. Economies will resemble those of the dark ages. Bartering will be the predominant means of operating them. Nobody will care about what used to be the internet, let alone Wi-Fi and cryptocurrencies.

jamest · **#846** by **jamest** » Dec 05, 2020 4:14 am

Hermit wrote:
jamest wrote:
Hermit wrote:
jamest wrote:An absolute gem, decided to share. Serious/institutional investors are now taking bitcoin seriously, I shit you not. Please watch, for your own benefit.

https://youtu.be/TqCbnQ_5dBA

Your enthusiasm in regard to cryptocurrencies is touching, but I do not possess an even remotely sufficient amount to watch 80 minutes of people talking about it on Youtube.

At the age of 67, you have no time to watch an illuminating 80 minute video?

I did not write that I have no time to watch an 80 minute video. I wrote that I do not possess an even remotely sufficient amount of enthusiasm to watch 80 minutes of people talking about cryptocurrencies on Youtube.

Look, like it or not, the world is changing rapidly. I acknowledge that at the age of 67 it might be difficult to give a fuck about it, but if you don't give a fuck about the world then please explain to the members here - most of whom are relatively younger - why they should all ALSO adopt your indifferent attitude.

You have to wake the fuck up, squire. The younger members here demand more than indifference. And if you have nothing more than that, then you're obsolete, a mere product of your meaningless past, just like every other puppet that dared entered the theatre of experiential life.

Hermit · **#847** by **Hermit** » Dec 05, 2020 4:33 am

jamest wrote:
Hermit wrote:
jamest wrote:
Hermit wrote:
Your enthusiasm in regard to cryptocurrencies is touching, but I do not possess an even remotely sufficient amount to watch 80 minutes of people talking about it on Youtube.

At the age of 67, you have no time to watch an illuminating 80 minute video?

I did not write that I have no time to watch an 80 minute video. I wrote that I do not possess an even remotely sufficient amount of enthusiasm to watch 80 minutes of people talking about cryptocurrencies on Youtube.

Look, like it or not, the world is changing rapidly. I acknowledge that at the age of 67 it might be difficult to give a fuck about it, but if you don't give a fuck about the world then please explain to the members here - most of whom are relatively younger - why they should all ALSO adopt your indifferent attitude.

You have to wake the fuck up, squire. The younger members here demand more than indifference. And if you have nothing more than that, then you're obsolete, a mere product of your meaningless past.

Dear oh dear. Where did I say that I don't give a fuck about the world? My posts in this thread are about two issues:

1) I don't accept your scenario of a catastrophic collapse of the economy and the death of billions of people caused by isolating people in order to limit the Covid-19 virus until vaccines control its spread.

2) If a catastrophic collapse of the economy and the death of billions of people do occur for some reason, cryptocurrencies will be useless even if they don't disappear along with the internet.

I beg you to stop putting words into my mouth. If you can't do that on your own, take remedial reading comprehension courses. There is a range of them available on Youtube. I know you like Youtube, so go for them.

jamest · **#848** by **jamest** » Dec 05, 2020 5:07 am

I've responded to these points many times already. It is beyond doubt that covid-19, or rather governmental responses to it, have been instrumental in destroying the economy.

After that, we get into serious issues such as the demise of the US Dollar and all whores of it, and it's not pretty. If you're going to harass me about that, at least make sure you've given 80+ minutes of your time researching it. :nono:

Hermit · **#849** by **Hermit** » Dec 05, 2020 6:50 am

jamest wrote:It is beyond doubt that covid-19, or rather governmental responses to it, have been instrumental in destroying the economy.

Covid-19 has undoubtedly hammered the GDP of nations worldwide. How much of it is due to government responses is an interesting question. One would expect economies of countries with governments that have imposed severe isolation measures to have shrunk significantly more than economies in countries that have not. So, looking at New Zealand, which has implemented severe isolation measures twice, suffered a a GDP shrinkage of 7.2%. The Netherlands has not bothered much with isolation regulations at all. Its economy shrank by 7.5%. Whoops. Looks like, regulations or not, people have largely taken it upon themselves to stay at home as much as they can tolerate their isolation. The economy suffered as much in the country without governmental responses to the coronavirus-19 as in the country with them.

While the different approaches had much the same economic outcomes, we cannot say that isolation policies made no difference. Looking at a different set of figures now, we find that in New Zealand 5 people per million died from the 'Rona so far this year, the rate in the Netherlands is 561/million. Which might just explain why the Dutch are belatedly pushing some more substantial governmental responses through parliament.

All that said, when you wrote "covid-19, or rather governmental responses to it, have been instrumental in destroying the economy", have you changed your definition of what a destroyed economy is? I seem to remember that you had four-digit inflation and billions of deaths in mind. We are far from it. In fact, what happened so far is way milder than the Great Depression.

OlivierK · **#850** by **OlivierK** » Dec 05, 2020 7:36 am

Presented without comment, other than my emphasis...

jamest wrote:
Thommo wrote:
jamest wrote:
Thommo wrote:

Not sure what this has to do with me, but since the deadline for your prediction of $100k bitcoin within a year and a half after the start of the next bull run has already been and gone I won't be holding my breath. Never mind all the Catalonia stuff (your opening post in this thread has really not aged well) or the rest of the covid nonsense you predicted and started to associate with this.

Another load of bollocks. The 'next' bitcoin bull run didn't start in February 2019...

We've had this conversation before.

Between 24th March 2019 and 23rd June 2019 Bitcoin prices surged from 4,106 to 11,959, an increase of 191%, you acknowledged, openly in this thread that this was the bull run you had foreseen:

jamest wrote:a) The bear market-cycle has bottomed and almost certainly over.

jamest wrote:Bitcoin is atm $8200. It broke through the 6+k level like a knife through butter, which shocked me too. The realism now is that this is now the beginning of the next bull market. The value of BTC might go down a bit from here, but a new upwards trend has been established.

More than 18 months have passed since 24th March 2019, and indeed since each of those acknowledgements you made that this was indeed the "next bull run".

Buying near the end of a bear market which began in January 2018, which I did in February 2019, is a fact. Anybody who had followed my advice back then would be significantly richer, fact. You could have shaved close to 10% off that February price in December of 2018, iirc, but I too missed that boat whilst I was researching this investment.

AT NO POINT at that early time did I indicate that THIS was the start of the next bull-run.

It is a FACT that bitcoin didn't reach highs into the $8+K region in 2019 until JUNE.

If I did declare June 2019 (not fucking February of 2019, as you are lieing about) as the start of the bull run for bitcoin, 18 months after that is December 2021, precisely when I expect bitcoin to have exceeded $50K.

What's your fucking point pal, other than telling porkies and lieing to avoid apologising to the members here for looking like a cunt, which you will be by the end of next year. Who knows, by that point maybe I can start publicly advocating that you be banned from here for acting the cunt, just like you did to me? Irony hey, you gotta love it.

felltoearth · **#851** by **felltoearth** » Dec 05, 2020 2:12 pm

Math is hard.

Sent from my iPad using Tapatalk

felltoearth · **#852** by **felltoearth** » Dec 05, 2020 3:59 pm

This is an interesting article. I didn’t know until I started looking into it that the majority of Bitcoin mining operations are located in China. Not sure what that means exactly but if the attraction of crypto is that it is decentralized, the fact that it is essentially centralized and potentially could be taken over by a single, potentially hostile foreign government should be concerning. Especially for a Brexiter who bangs on about being in control of their own destiny.

Bitcoin price surge linked to China crackdown - Asia Times

Bitcoin’s recent price surge could be at least partly attributable to Chinese miners struggling to swap their crypto for cash in the face of a government crackdown on local exchanges, resulting in a supply crunch, according to a Coindesk report.

“The lack of supply has fed extremely well to the trendiness of this rally, without any of the large sell-downs typical of miner activity in the past,” Singapore-based trading firm QCP Capital said in its Telegram channel.

Sent from my iPad using Tapatalk

Thommo · **#853** by **Thommo** » Dec 06, 2020 9:27 am

jamest wrote:If I did declare June 2019 (not fucking February of 2019, as you are lieing about) as the start of the bull run for bitcoin, 18 months after that is December 2021, precisely when I expect bitcoin to have exceeded $50K.

That post, and the preceding ones it related to, talked about dates in March and May 2019, which were indeed at the time of writing more than 18 months ago.*

18 months after June 2019 is December 2020 (this month). That's not how you spell "lying", although I wasn't saying anything about February 2019, true or otherwise.

-----

To be clear: You declared in May 2019 that the next bull market had already begun and I was quoting you do so both indirectly and directly. This was directly germane to your prediction that the peak of 100k (+/- 50k) would occur within 18 months of the beginning of that very same bull run.

Like I say, none of this matters in the slightest, you were wrong, but it's no big deal. You're still looking at a really good on paper gain, realisable if you sell today what you rebought in July (I think) 2019 at a price in the neighbourhood of 10k - 11k.

*June 2019 marked the end of the bull run that you had predicted would go as high as 150k, not the beginning, which was the only date relevant to your prediction. Since which there has been another period of declining prices followed by a recent surge. These do not fit with your prediction, or the four year cycle pattern you previous held forth about as a supposed intellectual justification for your belief.

Thommo · **#854** by **Thommo** » Dec 06, 2020 11:05 am

Anyway, with that tremendous act of foresight done and dusted, perhaps we should turn our eye to what, I think, is the next to fall due in around 3 months, on March 18 2021:

jamest wrote:A year from now, I predict that the $£ etc. will have a significant fraction of its present value. We'll be in the realms of a 4-figure percentage hike within a year, is my prediction.

Only ~999% out of 1000% to go, in multiple separate countries. It's strange to think that we only had several days/weeks to minimise our suffering almost a year ago. I guess that ship has sailed.

gobshite · **#855** by **gobshite** » Dec 17, 2020 2:30 am

Bitcoin hits all-time high! Jamest was right! :whistle:

Hermit · **#856** by **Hermit** » Dec 17, 2020 2:33 am

gobshite wrote:Bitcoin hits all-time high! Jamest was right!

What about? Inflation in four digit territory? More than half the human population dying?

gobshite · **#857** by **gobshite** » Dec 17, 2020 2:36 am

jamest wrote:
The governments of this 21st century world will not get rid of the internet and electricity, for that is what fuels their own power.

What do you think decentralised money does to government power? That's right, it's a threat to it.

I acknowledge that I did say [several months ago] that a few billion people could die in the medium-term because of the far-left overreaction to covid-19. Given what I've seen since that comment, I see no reason to amend that statement at this moment in time. Seriously.

Mate, you are off with the fairies. What have you seen? What i've seen is multiple vaccines and an end to the recession in most of the world's major economies.

gobshite · **#858** by **gobshite** » Dec 17, 2020 2:37 am

Hermit wrote:
gobshite wrote:Bitcoin hits all-time high! Jamest was right!

What about? Inflation in four digit territory? More than half the human population dying?

EVERYTHING!

Hermit · **#859** by **Hermit** » Dec 17, 2020 2:48 am

gobshite wrote:
Hermit wrote:
gobshite wrote:Bitcoin hits all-time high! Jamest was right!

What about? Inflation in four digit territory? More than half the human population dying?

EVERYTHING!

DAMN, DAMN, DAMN AND DOUBLE-DAMN!

jamest · **#860** by **jamest** » Dec 17, 2020 4:32 am

For the record, my predictions about high inflation and death rates were medium term predictions. Come back in [say] 2 years and take the piss. Then I'll apologise.

Bitcoin is actually at an all-time high (close to $22k as I speak), though a serious correction seems on the cards. All I'll say at this point is that I'm still very confident of it reaching $50+K in 2021, a year which imo will be worse than 2020.

The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Ads by Google

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Ads by Google

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Ads by Google

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Re: The ramifications of blockchain technology?

Who is online