All posts made by BitBustah in Bitcointalk's Wall Observer thread

No matter what happens be grateful for your health. Steve Jobs was worth billions but ended up dying from cancer. Sometimes the time we spend making money is not even worth it. I've never seen a person on their death bed regret not making more money.

Looks like a lot of greed in this thread, people waiting to buy in for absurdly low prices that will never be touched again.

The next economic crisis is looming. Stock market will be crashing a lot more and eventually the US dollar will no longer be the world currency.

United States have tricked other countries to trade their goods that require actual work to produce in exchange for worthless USD that they are printing at an alarming rate.

BTC
BTC
BTC

Quote from: realr0ach on December 28, 2018, 04:54:30 AM

As a side effect of what I was talking about earlier, the economic system is the equivalent of a game of monopoly in which one guy has all the board pieces and the game can continue no longer. They even go to the lengths of "basic income", literally handing you free money to try and get you to keep playing because better to lose 1% of monopoly on the entire money supply than it crashing and losing 100%.

Hell, it might even work for a little while, but once economic systems become that monopolized, it seems pretty doomed and inevitable to flip to a new currency unit just in order to continue. That's the problem, though. What the hell can it flip to? The entire purpose of the invisible hand of the market forcing an implosion and flip to a new currency unit is to have one that isn't monopolized so the system can continue.

If you just flipped from US dollars instantly to physical metals today, it would be rough since such a huge portion of the population doesn't own any so you haven't really fixed the monopolization problem. Even less people own digital shitcoins because mining is designed to centralize. If you did the flip, it would be completely impossible to force only gold as money if your goal was to lessen monopolization so an ecnomic system can continue at all. You would be required to utilize both gold, silver, and copper (many of the physical coins already are copper).

Universal basic income looks like a forgone conclusion at this point. The majority of jobs will be automated in the near future and the rich class would rather give out crumbs to the peasants than for the entire system to collapse in anarchy. After all the research I've done it looks like a great solution. It will reduce crime and give people more freedom to make the world a better place. It shouldn't be thought of as free money either. Think of all the antural resources that the government gobbles up from the public so it is really just a dividend to the citizens. I know Andrew Yang who is running for president 2020 is a big advocate of UBI.

The 21 million limit and block reward reductions are not set in stone. All it takes is consensus and these things can be changed.

Quote from: Biodom on January 21, 2019, 06:06:24 PM

A few interesting factoids and opinions:

Davos: the backlash
Corp profits above pay trend for a while. Author thinks that it should go back to trend.
https://www.bloomberg.com/opinion/articles/2019-01-21/davos-the-backlash-against-fat-cat-bosses-is-coming

An opposite opinion: why a few have so many?
Pareto law as an explanation (J. Peterson):
https://www.youtube.com/watch?v=-k_FfS1kHfY

Finally: tax collection employes supercomputer/service
https://www.wnd.com/2019/01/big-data-meets-big-govt-new-irs-spy-software/

Quote

It could also flag a person whose tax return shows relatively low annual income but whose social-media posts indicate something entirely different.

Integration of all three:

If the trend would become toward more taxation (as Davos article predicts), then the rich would probably employ crypto in some form, hopefully, bitcoin.
Bitcoin is dealing with high gini already, so it won't be a problem to absorb a $ trillion or two or ten.

this chart is old but it represents the wealth inequality trend It has gotten really bad over the last 10 years.

I'm sure most of you are wealthy enough or libertarian enough to not be concerned about the younger generation and lower class. Millenials can't even afford to purchase houses, most of the new wealth created is getting sucked up by the top. Baby boomer generation could at least work a normal job and have a good life but today things are upside down. The thing is this can't go on much longer before the inequality gets too out of hand and with job automation getting worse. Will eventually be revolution unless things change.

This is actually really depressing, people are getting excited over bitcoin at $3600 after where we have been. Roll Eyes

Quote from: jbreher on April 10, 2019, 11:14:30 PM

Quote from: Biodom on April 10, 2019, 10:02:10 PM

Buffett buys massively at above 500K in a few years, lol.

I'd sell to Buffet.

One.

In person.

Rub it in his face.

I doubt Mr. Buffet will even be alive in a year, he seems to be losing his mind gauging from the last interview I saw with him.

Actually wish I bought BCH back in december when it was $80, 5x from those prices to today. Oh well lol, everyone was calling it a deadcoin.

Looks like the money is starting to go back into eth, the btc ratio had very strong support at .025. That was a nice buying opportunity if you were looking to only increase your btc amount.

Communism/ socialism has definitely gained popularity among the younger crowd. Doesn't take a math genius to look at where all the new productivity gains are going to, heres a hint: its not going to hourly workers on the bottom the totem pole. Wealth disparity is similar to what it was in the gilded age.