Always good to read one of your blogs and how you relate it to one of my favorite series. I agree with pretty much everything here and I'm seriously considering getting a coin or two myself.
I can't really agree with what you say about bitcoin being the perfect separation from state and currency. The government controls the banking regulations. Just like it was possible to play poker on-line and win money in an overseas account, it was near impossible to get that money transferred into a US bank. Reporting bitcoin profits is already a part of our tax returns. In the end, governments may simply say everyone has to turn in their bitcoin for USCoin by a certain date or they lose access to them, just like confiscation of gold in the 1930's.
I don't see government being disconnected from how money is moved around in any form. It's going to be controlled, monitored, and taxed. Even though they can't "print more bitcoin", they could perhaps manipulate fractional banking of bitcoin to just "create" more as needed. Or, just say you can own bitcoin, but you must transact business in USCoin.
The debt level is getting ridiculous. Gold and silver are sharply up just these past weeks. Inflation is also going up and it's looking like there won't be any lowering of the interest rates this year to curb inflation. Trump, if elected is going to raise tariff's 100% on China. That's going to blow up inflation even more.
Buy land, gold, silver, art, collector coins, and houses - take on debt like you said. Then just bring in a wheelbarrow of fiat currency to your local bank in 10 years and pay off all your debt.
Bitcoin doesn't need banks, it's 100% peer to peer. Gman can tax it, no doubt about that - but there is no chance of confiscation. Since BTC is decentralized, it means they couldn't get control of it, even if they tried. Allowing the ETFs is a pretty good indication they recognize that fact, and as a consequence intend for their fiat world to exist along side BTC.
I suspect they will open a robust futures/options market on BTC very soon. They probably expect to cap the BTC price by diverting some of the investment dollars intended for BTC, into their paper games. But at the end of the day, the pools of investment capital (endowment funds, pension funds, soveriegn wealth funds, corporate balance sheets, and the biggest of them all, RIA money) which can now legally get into BTC are Gigantic compared to what is there now.
I believe, like Jeff Booth says - "Bitcoin is repricing EVERYTHING." It is a gift to mankind that will separate Money & State. I also believe, that while they can tax it - they have no way to stop it. It would be like trying to destroy a swarm of hornets - you might be able to eliminate some of the hornets, but the Hive lives on. Same with BTC.
Always good to read one of your blogs and how you relate it to one of my favorite series. I agree with pretty much everything here and I'm seriously considering getting a coin or two myself.
I can't really agree with what you say about bitcoin being the perfect separation from state and currency. The government controls the banking regulations. Just like it was possible to play poker on-line and win money in an overseas account, it was near impossible to get that money transferred into a US bank. Reporting bitcoin profits is already a part of our tax returns. In the end, governments may simply say everyone has to turn in their bitcoin for USCoin by a certain date or they lose access to them, just like confiscation of gold in the 1930's.
I don't see government being disconnected from how money is moved around in any form. It's going to be controlled, monitored, and taxed. Even though they can't "print more bitcoin", they could perhaps manipulate fractional banking of bitcoin to just "create" more as needed. Or, just say you can own bitcoin, but you must transact business in USCoin.
The debt level is getting ridiculous. Gold and silver are sharply up just these past weeks. Inflation is also going up and it's looking like there won't be any lowering of the interest rates this year to curb inflation. Trump, if elected is going to raise tariff's 100% on China. That's going to blow up inflation even more.
Buy land, gold, silver, art, collector coins, and houses - take on debt like you said. Then just bring in a wheelbarrow of fiat currency to your local bank in 10 years and pay off all your debt.
Bitcoin doesn't need banks, it's 100% peer to peer. Gman can tax it, no doubt about that - but there is no chance of confiscation. Since BTC is decentralized, it means they couldn't get control of it, even if they tried. Allowing the ETFs is a pretty good indication they recognize that fact, and as a consequence intend for their fiat world to exist along side BTC.
I suspect they will open a robust futures/options market on BTC very soon. They probably expect to cap the BTC price by diverting some of the investment dollars intended for BTC, into their paper games. But at the end of the day, the pools of investment capital (endowment funds, pension funds, soveriegn wealth funds, corporate balance sheets, and the biggest of them all, RIA money) which can now legally get into BTC are Gigantic compared to what is there now.
I believe, like Jeff Booth says - "Bitcoin is repricing EVERYTHING." It is a gift to mankind that will separate Money & State. I also believe, that while they can tax it - they have no way to stop it. It would be like trying to destroy a swarm of hornets - you might be able to eliminate some of the hornets, but the Hive lives on. Same with BTC.