Gold, Silver and Phisical Crypto

Reading blogs from http://jpkoning.blogspot.co.uk/ can be hazardous for the uninitiated, but are entertaining for the reemergent bitcoiner. Gold is a meme in bitcoin, going to zero, and this kind of thinking is also subscribed to by Mr Koning, one of bitcoins greatest detractors. We need all this gold silver and copper to make things. You could consider it a waste using it on coins, but also how much jewlry do you need and is a shiny coin a jewel substitute.

The thing about bitcoin and for that mater altcoin physical coins is that they are generally presented in pure metals. Gold or silver or copper (often plated with gold or rhodium). 

The good thing about this physical change is that it allows people to make small face to face purchases easily or to use mechanical toys and vending machines. trade without phones or the internet. The transactions need not be on a blockchain and can be anonymous. It also puta an interesting hedged security on the value on your money. For example a one once pure silver doge coin is worth more in metal than as crypto, but if Elon Musk makes a pump in 2052 it might go the other way and so people might start melting down doggy coins.

Valuable change means the people with the small change hold the real money. In times when resources are sparse money can be melted down and digital coins used instead, this would benefit the holders of the change and this would generally skew towards poorer more economically active people. That sounds nice.

http://www.trademe.co.nz/Browse/Listing.aspx?id=1038739885

Note: this sdiscussion is reffering to phisical coins which include private keys hidden somehow inside them or that can be exchanged for actual crypto.

Lightning ATMs are Here

One of the challenges with Bitcoin and crypto currency ATMs is that the confirmation times for transactions on blockchain can be long and this poses a security risk, especially relevant when fees are high or going up randomly. This new machine by Bleskomat might solve this forever!

https://www.bleskomat.com/#feature-instant-payments

Redphone

An exciting opensource project on the bitcoin lightning network will let you make phone calls directly from lightning node to lightning node.

https://github.com/pseudozach/redphone

Bringing Everyone Together

Great podcast, got to shill it!

https://youtu.be/Q9n7BJK48dk

Currency Wars on Multiple Fronts

Gold in bitcoin is a meme. Everything is going to zero against bitcoin and so if you own gold, you are short bitcoin. Just like owning chairs. Any moment everyone will realise that bitcoin is the one true money and instantly. like through the Noah Effect. At that moment will become the borderline worthless commodity it deserves to be, a shiny rock. I'm not so sure.

With the latest international government disputes overheating, hopefully conflicts can be kept to just a full scale currency war from here. It is scary to see that in addition to war they will do almost anything financially to get at each other. So I think the currency wars are now starting full engagement. This means that all financial weapons will be used, no holds bared and all tools these simultaneously. We have seen this with the national asset forfeiture, sanctions and counter asset confiscations etc. Price manipulation will be ramped up, that's obligatory. The more things that can be done at once the better, and it gets complex. 

Though bitcoin is going to be the fastest and most powerful refuge here, I have a feeling that it will be volatile and that gold is going to still have a few strong moments before we make the transition that bitcoiners dream of. It's going to be a war fought on many fronts and at least this part of it is going to be long. Altcoins and CBDC's will come into it. It's going to be carnage, limit ups and also painful emotional downs. The next few years we have got to see gains in all these areas as printed money looses its lustre waisted on conflict. Gold I think will be a major front in this financial war. At the moment it's controlled, the front isn't moving that much, but this will have to break at some point. I think this could move a lot at a point when governments decide they have to try to control bitcoin prices instead. It is going to be difficult to predict.

This is why I am still happy with my strategy on etoro with a little bit of diversification and a lot of exposure to gold. Purists might rip into me but for initiated copiers I think a little balance is the way to go to help reduce the swings and reduce the fear. 

Get ready, secure your keys, stay private and stay humble. We may need to move fast or hide to stay out of the way. I'm pretty sure this roller coaster is going to get wild on a whole new level. Maybe gold can level out this roller coaster, it feels like it's getting dangerous. 

Decentralised Enough?

"How decentralised does money need to be?" is the question that many proponents of altcoins will pose rhetorically when discussing the matter of bitcoin vs altcoins. They will say that things just need to be censorship resistant and resilient. Some centralisation can be ok if it allows us to still get a generally acceptable levels of  the things that come from this. I don't think so, it seems very vague and acceptable levels difficult to measure.

The answer for me is that money needs to be "MORE decentralised". That is that it is getting more decentralised over time. Blockchains are designed to last for a long time. This means that if your coin is not trending towards decentralisation then it will eventually become centralised. In order to prevent the system falling into this hole we need to keep moving away from it> Even if it is just a slight move it makes a binary difference over a long time. 

On top of that I think the money system is one of our most important systems. You could say money is the main artificial base layer of human coordination. I think at an absolute level it should be more decentralised as compared to basically every other system.

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Keep Your Old Miners

To protect your value one must be prepared to hash against a 51% attack. It is a far flung outside near impossibility at the moment. But there may come a time. Miners are self defence.

Even if its not many hashes it is still honing your skills. 

Maybe the marginal energy use versus hash will have an effect considering energy prices would theoretically rise during an international style hash war. This would be a sanction like method we are all too familiar with at the moment.