Max Keiser on Alex Jones: Bitcoin to kill The Fed

68 comments on “Max Keiser on Alex Jones: Bitcoin to kill The Fed
  1. Some of these folk could be very useful. Ross Anderson especially. He is an expert on security. http://www.cl.cam.ac.uk/people/ And plays the “Bagpipes!”

  2. Ross Anderson’s Book is a MUST READ!!! “Security Engineering” (Now Free Online)
    http://www.cl.cam.ac.uk/~rja14/book.html

  3. donk says:

    Bitcoin just this moment fucked up https://bitcointalk.org/index.php?topic=152030.0
    and dropped $6.00

  4. aleksy says:

    a couple of hours ago bitcoin was $49+

    Now $40

    Wow—more volatile than Apple stock!

  5. aleksy says:

    Holy Frack—now $37!

  6. realaverageamerican says:

    LOL!!
    First time I EVER heard Alex Jones begging to get a word in edge-wise!!

  7. At half a billion dollars worth of equity, it must be the right time to call in the professionals. “Pride goes before a fall!” The stable door needs to be kept closed! while the Gee Gees are safe inside!
    These are the experts! http://fc12.ifca.ai/program.html

  8. Robespierre says:

    Which proves that when Max suddenly falls in love with a thing, the pump and dump crowd dump !, suddenly the thing is trashed 20% in a couple of hours. Reminder here. Nothing can stop the government labelling bitcoin a terrrorist activity or money laundering or taxing the gains abusively. Nothing can stop the government intercepting the IP adresses of the servers. And besides that again what the hell is bitcoin than just a virtual currency just a little bit less trashy than the US dollar shit ? And besides that I dont believe in the limited supply thing. It’s after ll just an algorythm. True it’s limited to 21 million units, but units of nothing ! an electronic digit of nothing with NO INTRINSIC VALUE. And what happens if two weeks, two months from now, another hacker announces for example another type of monetary unit with let’s say 100 times of the size of bitcoin ? Or one year from now JP Morgan terrorists introduce derivatives or bitcoin ETFs ? Again there is NO INTRINSIC VALUE again even with bitcoin. Now however if Sprott or Silver Wheaton offered a physical bitcoin, now that would be the best of both world. Anyways hope you understand that anything virtual can be imitated even more easily than physical silver or gold. CAVEAT EMPTOR BITCOIN.

  9. Jasha Blanka says:

    @Max

    Unfortunately Alex doesnt get it; the weapons of the 21 Century are financial. He should have hired you to create and operate the Infowars Hedge Fund.

  10. aleksy says:

    now $42—AAPL will NEVE be able to keep up with BTC!!!

  11. Robespierre says:

    @Jasha
    I disagree. I get it and Alex Jones gets it but even if it limited, it is not rare like gold silver or platinum, specially the physical stuff. It will be imitated and will eventually counterfeited. If they manage to do it that easily with hyper tight physical silver, they will do it 1,000,000,000 times more easily with a superb electronic currency which still has no intrinsic values. Cant eat it. Cant make bullets with it. Cant make jewells. It is nice but it’s still a digit somewhere on a computer and a hard drive. 0 and 1’s on a magnetic support. Not very reassuring for me anyways.

  12. Oops! A scheme we introduced at the San Jose RSA Conference, about five years ago, has fallen victim to security vulnerabilities! There is no room for ‘pride’ in the financial security business!
    Quote:- Social Authentication: Harder than it Looks
    Hyoungshick Kim, John Tang, and Ross Anderson
    Computer Laboratory,
    University of Cambridge, UK
    fhk331, jkt27, rja14g@cam.ac.uk
    Abstract. A number of web service rms have started to authenticate
    users via their social knowledge, such as whether they can identify friends
    from photos. We investigate attacks on such schemes. First, attackers of-
    ten know a lot about their targets; most people seek to keep sensitive
    information private from others in their social circle. Against close ene-
    mies, social authentication is much less e ective. We formally quantify
    the potential risk of these threats. Second, when photos are used, there is
    a growing vulnerability to face-recognition algorithms, which are improv-
    ing all the time. Network analysis can identify hard challenge questions,
    or tell a social network operator which users could safely use social au-
    thentication; but it could make a big di erence if photos weren’t shared
    with friends of friends by default. This poses a dilemma for operators:
    will they tighten their privacy default settings, or will the improvement
    in security cost too much revenue?…”

    OK this does not relate to Bitcoin directly, our objective was to make life ‘simple’ for the user. Complexity has a negative impact on security compliance! it’s a delicate balancing act. The best way to ensure security, is to challenge academics to break the security, with a prize offered to the dude or team that breaks the code! Students are often strapped for cash. Get a “Prize Offer” posted up on every Computer Lab Bulletin Board!… It will work wonders for Bitcoin security!

  13. Hondo Stalwart says:

    Max … MIA

  14. Hondo Stalwart says:

    Beam me up Scottie.

  15. Robespierre says:

    I prefer the 10,000 year concept of physical silver and gold. It’s all very fluffy and cutie but it’s still nothiness like the US dollar. The US dollar has an advantage, a vicious one by the way. A bunch of big mass murdering Nazis from the Pentagon and a lot of nukes. Ultimately the only thing that justifies a virtual currency like the US dollar, that piece of total shit, is the number of vicious psychopaths backing it. No vicious psychopaths capable of backing up Bitcoin and NO INTRINSIC VALUE contrary to the 10,000 year cool stuff.

  16. gr8mikey says:

    Bitcoin to kill the Fed? Sounds alot like silver price higer than JPM stock price will bankrupt JPM. Heres a hint for the more dense among you. Both of the above statements are equally ridiculous. Keiser leading his sycophants off the cliff….. again….

  17. Dick says:

    “Sorry, the maximum number of purchases on Coinbase has been reached at the moment. This is a 24 hour rolling limit with no specific start time. Please try again later. We’ll continue raising this limit over time.”

    Huh, first time I’ve seen that.

  18. Hondo Stalwart says:

    Hahahahahahahahahaha!

  19. snoop diddy says:

    http://www.thebitcointrader.com/2013/03/breaking-blockchain-has-forked.html
    Monday, March 11, 2013
    Breaking: The Blockchain has Forked
    Developers are currently holding an emergency discussion in #bitcoin-dev to determine a way forward.

  20. jischinger says:

    the problem I have with bitcoin is the Obama switch and the fact that all big corporate IP could just cut me off at will

    anyone want to address that?

  21. snoop diddy says:

    http://bitcoin.org/chainfork.html
    11/12 March 2013 Chain Fork Information
    What happened

    A bitcoin miner running version 0.8.0 created a large block (at height 225,430) that is incompatible with earlier versions of Bitcoin.

    The result was a block chain fork, with miners, merchants and users running the new version of bitcoin accepting, and building on, that block, and miners, merchants and users running older versions of bitcoin rejecting it and creating their own block chain.
    What is being done

    Large mining pools running version 0.8.0 were asked to switch back to version 0.7, to create a single block chain compatible with all bitcoin software.
    Questions & Answers
    I’m not a miner or a merchant, what should I do?

    Nothing. Your bitcoin software will switch to the correct chain automatically, no matter which version you are running.
    Are my bitcoins safe?

    Yes.
    I’m a merchant accepting bitcoins, what should I do?

    If you are running version 0.8.0, there is a small risk that payments with more than 6 confirmations could be double-spent on the 0.7-compatible blockchain. The risk is small because this is not a network split– transactions are being sent to both sides of the chain split, and it is unlikely (but possible) that somebody could get two versions of the same transaction into the two sides of the chain.
    What will be done

    The core developers are investigating exactly what causes the old versions to reject the new blocks, and will release a 0.8.1 version that avoids creating blocks that are incompatible with older versions.

  22. snoop diddy says:

    @jischinger,
    save your wallet onto a thumb drive and move to another country :-/

  23. jischinger says:

    @snoopdiddy like all US slaves I’d have to buy my freedom first

  24. jischinger says:

    don’t click on this unless your safe and know what you’re doing
    – anyone know what this is about and is it legit?
    http://www.bitvisitor.com

  25. Dick says:

    Damn Coinbase. I suppose opening a Mt. Gox account and setting a few limits orders strategically well below the current price is the thing to do to really take advantage of situations like these.

  26. snoop diddy says:

    explains btc price action:

    https://bitcointalk.org/index.php?PHPSESSID=3jds8rf6n1q8qbb7mjegvr2v54&topic=152030.0

    News: Critical: Current Bitcoin network fork. Action needed by mining pools. Merchants should hold transactions.

    Alert: chain fork caused by pre-0.8 clients dealing badly with large blocks

  27. ZORRO - London says:

    Silver was the achilles heel, now its bitcoin.

    Whats next MAX.?

    Anything electronic can be manipulated, or at least be taken over by the bad guys.

    Ultimately, as you know, the globalists in a global market need a harmonised UNIT LABOUR COST.

    This is what we see unfolding in the currency race, not just to the bottom, but to a 3rd world level.

    Its just a matter of how much resistance and opposition within nations there will be, and at the moment that is being controlled and managed.

    What will be the trigger for real tangible opposition will likely be inflation in food prices as you already know.

    And of what value is bitcoin to the little old lady or poor person who does not have access to computers?

    …………………….Z

  28. jischinger says:

    I don’t rally know what to call these people; globalist, evil incarnate, reptilians, the devils attache, greedy bastards, Darwinist, deluded narcissist… but it seems to me, at this juncture, there’s no other way to stop them short of killing them. I know that sounds harsh for a civilized society, however, they continually slaughter and poison people for short term profits. What else is there to do?

    I don’t know how you cure complacency, ignorance and apathy, I don’t know how you balance the inequity out without vigilance and long stretches of time.

    Historical models have been bloody revolutions, which eventually leads to self-exile; i.e. pilgrims, and that has required either a religious bent or a particular philosophy.

    Regardless, any new venture requires a physical community.

    So far, the only group of people who have moved in that direction are religious nuts and hard core Randian Libertarians. I haven’t heard of any liberal/socialist groups creating communities, or right minded philanthropist laying down seed money to initiate or start building within a small system. Even the thought of taking over an existing community is hard pressed without being intrenched in the system for short term big profits.

    Perhaps the earth has taken notice and begun to emit some undetected hormone to reduce the population for it’s own survival, thus rendering the human species vulnerable through apathy and greed to it’s own demise.

    Maybe that’s the price for knowledge?

  29. nathan el Corochio says:

    bitcoin is the new silver, i wish i bought in at $4. again!!!!

  30. Catty Jnr. says:

    I respect Alex Jones, but he is absolutely crazy thinking that the American people will rise against the current regime. People these days are simply too obsessed with TV and their iProducts. The sheeple are paying too much attention to reality TV and sports, and those people who do watch the mainstream news tend to lap up the propaganda. I can imagine a scenario where a high profile libertarian will risk his/her life to get the information out to the population; and that same population will cheer on the death of the high profile libertarian. So in short, why put yourself in harms way to defend the rights of an ungrateful population?

    Max is right, with the Patriot Act, the NDAA, TSA agents groping children, the threshold of tyranny has been crossed a long time ago. But if people want to romanticize about using their assault riffles to reboot the American Constitution, good luck with that one. The banks can simply fund the Pentagon, to bomb the perceived trouble makers with Hellfire Missiles.

  31. pop says:

    Max Keiser owns 666 bitcoins. He is the bitcoin antichrist.

  32. curlymoses says:

    Conditions in the present situation make Bitcoin currency attractive for the same reasons silver and gold are attractive. For a time in Italy during WWII, food was worth more than silver. So match the currency that best serves your purposes for the situation wether it’s Bitcoin, silver, cigarrettes, food, water, etc…

  33. Simon K says:

    I must disagree on the value of bitcoin.
    1- not private nor anonymous: you have to fill a form detailing your life if you want to buy bitcoins on Mt.Gox or any other site. The NSA is loving it.
    2- it helps the banks: with bitcoin, you have created another mean by which dollars are soaked up like a sponge. The millions and millions you “win” with bitcoin, are nothing but millions and millions of dollars waiting to be converted – and printed. You’re helping Jamie since the money created out of thin air by bitcoin apreciation, it’s nothing but another way to sparkle inflation.
    3- it’s no diferent than the platinum trillion dollar coin: you break that coin in 21 million pieces and you’ve got bitcoin.
    4- it diverges money that should otherwise be channeled to precious metals. Jamie is loving it.
    5- strong dollar=strong bitcoin. What does that tells you?
    6- Mt.Gox controls 80% of the BTC trade. How is that different from JP Morgan controling the silver market short?
    7- BTC invented in a country that urgently needs inflation. That’s it: BTC is what the FED needs, contrary from what Max is saying.
    In sum: no way bitcoin is going to be part of my portfolio. I don’t want to be complicit with JP morgan and Goldman, even if that makes me a “bitcoin millionaire”.

  34. Rorschach's journal says:

    The Bitcoin, pederasts currency of choice!!

  35. Ilia says:

    For anyone who has been following bitcoin for a while, what is happening now is nothing unusual at all. Just look here:

    http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv

    Just in the last 2 months there have been 4 dumps bigger than this one. You think it can just go up 2000% in 18 months without any corrections or anyone getting nervous? There are many nerdy people who suddenly have 90+% of their wealth in bitcoins; of course there will be some selling.

    That said just a short time ago people were saying that we want to avoid undue attention while the network and software have not matured yet. Too late for that.

  36. Ilia says:

    @Simon K not a single one of your points is valid. Please do some research.

    For eg.
    7 — Bitcoin was not invented in any country. Satoshi Nakamoto is most probably British not Japanese.
    6 — You can buy bitcoin for cash or on over-the-counter markets like http://bitcoin-otc.com/
    5 — what?
    4 — says who? you can always buy gold and silver with bitcoins at coinabul.com
    3 — it is very different
    2 — what?
    1 — see 6.

  37. Ilia says:

    Big difference between manipulating the silver market and manipulating bitcoin is that it is trivial to ‘take delivery’ of bitcoins. If you are buying tonnes of silver, you inevitably have problems with centralized storage. That’s when you get fractional reserve, naked short sales, opaque assays and audits etc etc. With bitcoin there is no good reason to let anyone store your bitcoins for you. Just do a little research about cold storage and how to make backups and you can be your own bank.

  38. Simon K says:

    Ilia,
    In none of your points you have refuted mine: “what?” “says who?” “see 6″ and the like are not answers.
    BTC is the perfect Trojan Horse of the FED to erradicate debt, foster inflation, and wipe out the techno dudes from Silicon Valley who think they’re smarter than Wall Street: when they become invested in a billion or trillion market dollar pool of 21 million BTC, then Wall Street will pull the BTC plug and wipe out these nerds (if they did it in Iran with the «FLAME» virus, do you think it’s difficult to do it in US?). The preps will be the last ones standing in a physical world with physical food, physical gold & silver, and physical abilities to resist. Like all Ponzi schemes, this one also makes people happy and with the feeling they’re going to be millionaires like Jamie. Just look at Max in that KR n.º 416: for the first time in the history of that show, i dit not saw a freedom fighter against banks, but a seller of ponzis. If the point is to make a million bucks in speculation, we all know how to do it. That’s sad.

  39. Simon K says:

    Keep working in Moria, digging the mines to feed the debt ponzi.

  40. Ilia says:

    @Simon K you’re entitled to your opinion even if I don’t agree with you.

    You must realise bitcoin is not some shady scheme just because it seems incomprehensible to you. It is actually the most transparent monetary system ever devised. It is open source. The code is right there for you to read or you can hire somebody to audit it for you. Even if it was created by the CIA or whatever it makes no difference. Tor was created by the US military too. Encryption was invented by people working for the US military. It’s not important who created it. What’s important is to understand it for what it actually is and not get confused between facts and wild conjectures.

  41. Ilia says:

    One more small point. Each bitcoin divides into 8 decimal places, so there are actually 21 * 10^15 units of currency or ‘satoshis’, not just 21 million bitcoins.

  42. Simon K says:

    “You must realise bitcoin is not some shady scheme just because it seems incomprehensible to you”.
    – The same argument used to justify the financial weapons of mass destruction called derivatives: they’re too “incomprehensible” to the masses.
    “One more small point. Each bitcoin divides into 8 decimal places, so there are actually 21 * 10^15 units of currency or ‘satoshis’, not just 21 million bitcoins”
    – You can also divide a trillion dollar platinum coins in 21*10^15 units of currency or ‘platinoshis’.

  43. Ilia says:

    @Simon K there is a difference between something only a few people are allowed to have access to, eg gold reserves in New York, or the true balance sheets of banks, or the opaque derivatives market, or for example scientific research which is a little bit complicated and requires some effort to understand even though it is completely open.

    Bitcoin is open in the way that scientific research is open. Anybody can be a scientist if they just put in some work. Nobody has any special privileges in the scientific world or the bitcoin world. You have to convince other people of your ideas and anybody can test and check your work.

    Compare this to our financial system where only a few people have access to many pieces of key information. Only a few people can make certain decisions. Our financial system is centralized. Bitcoin, like science, is decentralized. There is no bitcoin authority.

  44. Ilia says:

    re dividing platinum coin; ok go ahead and divide your coin and see how that works out for you. Your previous messages just sounded like you thought there were only 21 million bitcoins and that was some kind of limitation. Perhaps before arguing further you could read a bit through this:
    https://en.bitcoin.it/wiki/Myths

  45. Simon K says:

    Next idea of the FED: issue a platinum trillion dollar coin; create a computer code entitling the ower of that piece of code to a 0.00000001% of the value of the coin; start trading pieces of code in Mt.Ponz website for a period of 10 years. You will the see the ‘platinoshis’ rising like a Picasso.

  46. jischinger says:

    is bitcoin taxed
    if not, will the FEDs eventually tax it?

  47. ronron says:

    jim willie, jim sinclair and jim rogers never got a bitcoin. kinda like red buttons not getting a roast. :-)

  48. StackEm'High says:

    Why is Max keiser pushig bitcoin so hard? I’m starting to question his motives. Is bitcoin money or currency or a stock? What happened to gold/silver?

    Bitcoin at 100 000 000$. Great then we can finally all become billionaires and move all our money into gold and silver.

    Why would I ever use my bitcoin today to purchase items such as food and clothing if it continues to rise in value?

    Also,

    Can bitcoins be lost or destroyed? Could this occur if your only thumbdrive with your bitcoin wallet gets thrown in the laundry?

    If so,

    What if Max Keiser destroyed his bitcoin wallet with all the bit coins that it contained? The value of bitcoin would skyrocket since the total amount of bitcoin available on planet earth would decrease significantly.

    Bitcoin only works if people are willing to use it.The same with fiat currency. Silver has value because it is composed of atoms and exists physically on planet earth, it can be used for many uses including in extreme cases, projectile or self-defence weapon.

    Just think… you could leave a hoard of bitcoin for your grandchildren on a thumbdrive somewhere.

    Additionaly,

    Bitcoin is not SUSTAINABLE!

    Gold and silver will be on planet earth for generations to come. Bitcoin requires electricity that today (>80%) is mainly generated from fossil fuels and whose daily trading would require electronics containing silver.

  49. Don’t give up on Silver! the only ‘counterparty risk’ is a thief/burglar!
    BTW, chains tend to be as strong as their weakest link, but the ‘Identify a Pet’ that my friend Ross Anderson was so underwhelmed with, could be enhanced by sending in a picture by secure transmission. This might help with the early ‘Unsecured Wallet’ phase? The pictures can be amazingly low resolution!… the human brain is very good at recognizing a familiar face. Hold up a match-stick at arms length, next time you are in the street. block out a face you recognize! not so very far away! The artist L.S. Lowry’s paintings of matchstick people were recognisable portraits to many Manchunians, just on body language! NO FACE at all…!!!
    The RSA Community are keenly interested. Make use of them!
    http://developer-content.emc.com/docs/rsashare/share_for_java/1.1/dev_guide/group__JCESAMPLES__SIGNATURE__ECDSA.html

  50. badsey says:

    jischinger | March 12, 2013 at 11:39 am |
    is bitcoin taxed? if not, will the FEDs eventually tax it?”

    IRS taxes should only be for Federal Reserve debt notes or equivalents. -And even then there is no law that say you need to pay taxes -only that you must file.

    Now they push this tariff onto physical coins or try to push a commodity into Federal Reserve (dollar) equivalents (force conversion into dollars). If you barter (non-US mint physical silver/gold) for your bitcoins I feel they would have a weak case. The problem with bitcoin is that they use US dollar equivalents and have places where you can buy bitcoins with Federal Reserve notes.

    I feel bitcoin does have a use specifically for people on the go going into different currencies all the time. -By going bitcoin you really save yourself alot of trouble converting currency and saving money on those conversions. You are among a better crowd of people and just having 1% in bitcoin (a rising currency) is probably worth the risk and far better than taxable Federal Reserve notes which are massively overprinted (inflated) and handed out to the rich at ~0%.

    =bitcoin does have its place, but physical gold/silver puts more pressure on the financial terrorists printing out unlimited fiat debt notes.

  51. badsey says:

    One thing:

    If seems the financial terrorists are having a hard time keeping bitcoin and all the geeks that buy into it down. Physical silver/gold has held, but has not risen as much as it should with the devalued dollar. =Either they do not care, or bitcoin has found some immunity from the financial terrorists.

    Best bet: Have a business that allows a small part of your assets into bitcoin. Really bitcoin needs an Ebay type thing for people to buy sell items for bitcoins. I would seriously do this and put up to 10% of assets into bitcoin. What maxkeiser did with PMF and accepting bitcoins only (made more financial sense to him and PMF) is one way and if I would have gone bitcoin would have made a few extra (in relative to Federal Reserve Debt notes). MaxKeiser was actually trying to help you —>turned me off (I have been PayPal for a long time) <— but I should have listened and many PMF people are probably on bitcoin and happy with their currency increasing in a time of almost universal inflation.

  52. Simon K says:

    If you’re into the business of speculation, then move to bitcoin.
    It’s no different than a JPMorgan or Goldman stock. Whoever bought JPM stock in June 2012 at $31 is now making $50 plus dividend yield since then; Goldman was $90 and now is $150. If you’re into that, then forget the Silver Liberation Army and join the Speculator Domination Army (also known as Bitcoin Ponzi Rebels).

  53. Often times folks argue that bitcoin has no value because of its virtual nature. The virtual nature is the value. Is the network robust? I would say so. Do all forms of technology eventually fail? Indeed they do. If you ask me about bitcoin, the question is will the bitcoin network eventually be powerful enough t0 crack PGP itself… then you really got something interesting, but it would take years to build to that level. How big will the bitcoin network get and as size equates to strength at what point does it turn on itself? If anything, this latest disruption would seem to serve as a confidence builder.

  54. Simon K says:

    Bitcoin as nothing to do with confidence. It as to do with the dollar: today the dollar is down, and so is bitcoin (oh…and gold & silver have gone up!). A virtual currency that is the mirror image of the dollar is a currency that i wouldn’t trust in the first place.

  55. whatajoke says:

    Max has lost a LOT of credibility with me. He calls for a total economic collapse a few months ago then today says ‘i was right because bitcoin has skyrocketed’.

    Are you serious? If that’s what you meant by economic collapse then that’s what you should have said! The bonds haven’t bursted, the stock market is at all time highs – and while it’s all bs and will eventually crash, IT HASN’T YET.

    Shame on you Max. Be a man and admit that you were WRONG in your timing, instead of pushing some flaky ‘I was right, look at bitcoin’ argument. The only person that thinks you were ‘right’ is YOU.

  56. Help Desk says:

    “Why is Max keiser pushig bitcoin so hard?”

    I believe it’s because he sees the potential Bitcoin has for allowing escape from the machinations of those who control all other forms of current currency.

    “Is bitcoin money or currency or a stock? What happened to gold/silver?”

    Bitcoin is a circulating medium of exchange. Akin to stocks, some people are currently speculating that its price will continue to climb as more and more people see value in buying into it. Gold and silver are currently well under the thumb of the same interests who rely on compelled use of government fiat.

    “Why would I ever use my bitcoin today to purchase items such as food and clothing if it continues to rise in value?”

    You wouldn’t today. It’s not its best use as of today, just as it would not be the best use of gold and silver today.

    “Can bitcoins be lost or destroyed? Could this occur if your only thumbdrive with your bitcoin wallet gets thrown in the laundry?”

    Yes, Bitcoins can be forever lost. And yes, if you keep only a single copy of your wallet on a single thumbdrive and throw it in the laundry that would be bad.

    “What if Max Keiser destroyed his bitcoin wallet with all the bit coins that it contained? The value of bitcoin would skyrocket since the total amount of bitcoin available on planet earth would decrease significantly.”

    Mr. Keiser’s Bitcoins would remain inaccessible and unspent forever after, and yes, the more Bitcoins that are lost, the higher the value the remaining Bitcoins in circulation could become.

    “Bitcoin only works if people are willing to use it.The same with fiat currency.”

    True.

    “Silver has value because it is composed of atoms and exists physically on planet earth, it can be used for many uses including in extreme cases, projectile or self-defence weapon. ”

    Silver has value because a group of people perceive it to have value. Silver has many industrial uses, and as long as there is a continued need for silver for those uses, silver should retain at least that value as an industrial metal. As for use as a projectile or weapon of self-defense, I would think many other substances of lesser value would serve the purpose better.

    “Bitcoin is not SUSTAINABLE! Gold and silver will be on planet earth for generations to come. Bitcoin requires electricity that today (>80%) is mainly generated from fossil fuels and whose daily trading would require electronics containing silver.”

    True, gold and silver are easier to preserve than Bitcoin, I do often hear that silver’s current use in electronics makes a certain amount of it practicably unrecoverable though. And yes, Bitcoin is dependent on our continued use of electricity. Perhaps in the future it will become less dependent on fossil fuels and more dependent upon silver-dependent solar-generated electricity. Imagine the potential value of silver if it was not only a key material in electronics, but also more and more necessary in the generation of electricity. Maybe it would drive the value of silver so high that even its use as a medium of exchange for small amounts of daily necessities such as food impractical, that would suck, yeah?

  57. Simon K says:

    According to Max Keiser’s notion of ‘collapse’, the collapse as already happened in January:

    http://www.bloomberg.com/news/2013-01-06/japan-sushi-chain-pays-record-1-76-million-for-tuna-at-auction.html

    Yes: one of the last ‘bit-tunas’ as hit a new all time high against the dollar! That’s the price of rarity. I guess i will established a Mt.Tunox to exchange microns of freezed tuna for gold and silver. If that is Keiser’s notion of ‘collapse’, expect hundreds of them along our path towards extinction.

  58. Internet Serfer says:

    Simon K,

    You’re not fooling anyone.

    Sincerely, everyone else.

  59. Danny Cunnington says:

    I’m not sure that BTC can or will end the Fed or even cause a bond crash but it’s certainly true that banksters hate it. That’s because it’s a free will currency. It’s value comes about by people using it as a medium of exchange. By transacting in it you transfer wealth from bankster paper currency to the BTC system.

    On Maxs’ bond prediction. It’s fairly bold to put a timeline on the bubble bursting although it’s very predictable that it will happen at some point. The problem is the seeming ability of banksters and politicians to extend and pretend. Central banks work in cartels and also in secret with the establishment media fully in collusion.

    Calling a crash is very difficult because what you are doing is trying to judge when the banksters can’t hide it any longer. We are told that a nation’s central banks are buying their government bonds as in 60% of them but how do we know they are not buying all of them and at the bond auctions you have offshore entities buying which are just the central bank in disguise? The same goes for the secondary market. If they use proxies to buy all the secondary market it creates the illusion of a stable bond market when it fact it could be as dead as a dodo.

    Normally the rise of consumer inflation and currency depreciation should force rates up but not if the whole illusion is a closed loop.

  60. ronron says:

    look, the feds 100 year mandate is up this year. the fed will end. you may not want to have too many of there dollars.

  61. ronron says:

    xmas eve. merry xmas.

  62. benb says:

    I thought $500 silver was going to bring down the bad guys.
    Max mentioned that only 21 million would be produced? not enough currency for 7 billion people. Also, how can people without pewters be left out of a world currency?
    I asked in another thread, Where does a person aquire these bitcoins? What market do they trade on?
    Nobody could answer.

    Anybody know how to get it?

  63. Internet Serfer says:

    @benb

    All of those questions can be answered with a Google search. I wonder how it is you ended up here if you struggle to grasp something that simple.
    Try doing some research before trying to add to the Bitcoin dissension. You are inflicting negative associations with the currency, but perhaps that was your goal. If so, and you’re just a troll, then congratulations, you’re still an idiot.

  64. mijj says:

    Alex Jones : “True fiat currencies that are open source are what we need to go to”

    Bitcoin is not fiat.

    “Fiat” doesn’t mean “not physical”.
    The source of fiat is the imagination. The source of bitcoin is the objective, natural world of numbers. (Like the source of gold is the objective, natural world of matter)

    Gold exists in objective world of protons, neutrons, electrons, and has a particular atomic structure. To claim gold from nature, material is collected and tested to see if it’s gold (ie satisfies tests for: density, ductility, specific heat, etc – or however it is that they “prove” what they have is gold.).

    Bitcoin exists in the objective world of numbers and satisfies a particular numerical algorithm. To claim bitcoins from nature, numbers are collected and tested to see if they satisfy a particular algorithm.

    Fiat has subjective existence .. it’s created on a whim from the imagination of authoritarian figures. (Presumably, the imagination of authority figures is the “light” from which fiat money is created)

    Gold is mined from the objective material world
    Bitcoin is mined from the objective mathematical world
    Fiat is conjoured from the fevered imagination of psychopaths in positions of authority.

  65. benb says:

    @serfer
    No I didnt know that, thanks for informing me of this “google”
    Should be of assistance when I look up the meaning of moron.
    The point genius is nobody answered, not 1 sole knows what exchange it is traded on or where/how else to aquire them.
    That would tell us “idiots” somthing, but probly not the morons. lol

  66. skorek says:

    Just find this brand new dutch website with more the 35 free daily bitcoin websites. You can make as much as 0,5 bitcoin in a week if you register with all the links the site have.

    http://www.freebitcoin.nl

    just great

  67. 17:35 says:

    one wild assumption, what if??? let’s say in ten years bitcoin has become one of the most used currencies in the world due it’s transparency and also due to further developments in computing and networking which have made digital information ubiquitous in our everyday life, what if powers in be(world central bankers, world elite, en-ˈdəbəlˌyo͞o-ō, what have you) would step on the bandwagon of bitcoin. couldn’t there be a hazard to become the cashless one world currency? of course then we would be convinced that 21 millions units is not enough for the world economy and the issuance of bitcoin would be taken over, needless to say that it wouldn’t be an explicit process.

    of course at the moment i don’t see bitcoin as a currency only because it’s value is raising and who would like to use currency which worth is escalating to go shopping? to counterargument my hypothesis, at the moment it’s just a good container to store wealth.

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