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Why Bitcoin is a CIA scam to extend the petrodollar

Discussions about the economic and financial ramifications of PEAK OIL

Re: Why Bitcoin is a CIA scam to extend the petrodollar

Unread postby Outcast_Searcher » Tue 27 Apr 2021, 14:51:43

dissident wrote:Bitcoin value is a bubble. People hear about clowns making billions so they buy in expecting to ride the wave. This drives up the price of this vapid "asset", which in turn draws more confidence in its "value". As noted above the current price (in fiat, LOL) of Bitcoin is too high for hordes of more buyers to be getting the windfalls of the early birds. This means that we are approaching the bubble burst stage.

Bitcoin is also a species of Ponzi scheme since its valuation is driven by new investor flux. Without this flux it could not have appreciated in fiat terms. As we enter the flux attenuation regime, the scheme will start to collapse.

If it weren't for your posting history and clear belief in random consipiracy theories, you might have a credible argument. As it is, why should your musings be trusted?

But you believe what you believe, so there's that. :idea:

Hint: I have NO IDEA re the future price of BTC or crypto currencies generally, is, and have a TINY percentage of my net worth (hint: well under 1%) tied into BTC, given my lack of confidence. So if BTC crashes or goes to zero, I really don't care.

But OTOH, I don't claim I know what the future holds frequently and get proven wrong quite a bit, like the conspiracy theory folks, or the "economic doom is nigh EVERY MONTH for decades" crowd, who being proven constantly wrong only has credibility in their own constantly flapping lips.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Why Bitcoin is a CIA scam to extend the petrodollar

Unread postby Ibon » Tue 27 Apr 2021, 17:35:04

Outcast_Searcher wrote:
But OTOH, I don't claim I know what the future holds frequently and get proven wrong quite a bit, like the conspiracy theory folks, or the "economic doom is nigh EVERY MONTH for decades" crowd, who being proven constantly wrong only has credibility in their own constantly flapping lips.


Conspiracy theory folks always seem to know exactly what is happening, every twist and turn of reality gets filtered through their certainty and they exhibit a constant of always knowing exactly what is happening! Ever notice that?

You will never see conspiracy theory folks frankly state like you did OS that they simply don't know what is going to happen, that they are not sure, that the future could go either way.

And therein lies the deep insecurity that is at the root of every conspiracy theorist on the planet. This need to have it all figured out, identifying the boogey man, always knowing.

Conspiracy theorists have no emotional maturity to hang in the unknown of NOT KNOWING.

They are scared little bunny rabbits at the end of the day.

There are many out there and they can be found across the political spectrum ideology wise. Trumpsters are classic examples by the way....so unwaveringly certain the election was stolen......
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Re: Why Bitcoin is a CIA scam to extend the petrodollar

Unread postby Plantagenet » Wed 28 Apr 2021, 14:43:16

Ibon wrote:Conspiracy theory ......There are many out there and they can be found across the political spectrum ideology wise. Trumpsters are classic examples by the way....so unwaveringly certain the election was stolen......


Exactly right. They are on both sides of the political spectrum and they aren't just uneducated dolts in the backwoods or illiterate immigrants or poorly educated urban citizens..... many conspiracy theorists turn out to be are extremely well educated and very prominent and powerful people.

For instance, on the D side there were literally millions of D conspiracy theorists who believed that Trump was a Russian secret agent who conspired with the Russians to steal the 2016 election. Those conspiracy theories started at the top with Hillary and Obama, and came to permeate much of the left-leaning US mainstream media and the bulk of the D party, even though it was total nonsense.

A more recent D conspiracy theory which is having serious repercussions today was the nutty idea put forth by Cuomo and Whitmer and other D leaders in 2020 that the Trumpies were rushing vaccine development and testing in order to help Trump get re-elected, so the covid vaccine wasn't safe. The nutty Ds actually set up state boards in blue states like New York, California, Michigan etc. to independently review the vaccines to make sure they were safe. This kind of anti-vax conspiracy nonsense is probably one reason so many D voters in big cities are "vaccine hesitant." They made the mistake of buying into the nonsense being peddled by top D politicians who were spreading conspiracy theories and trying to discredit the covid vaccine.

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Prominent D politicans in blue states were spreading anti-vax conspiracy theories in 2020......and now we see a lot of "vaccine hesitancy" among their inner city D voters.

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250 million thousand people have died of covid---Joe Biden
Never underestimate the ability of Joe Biden to f#@% things up---Barack Obama

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