Role of Crypto/Cybercurrencies in the PTB's loss of control?

[Breo]

There's a mania in crypto right now. Bitcoin up 30% in 7 days, and ethereum up 40% in 7 days.

Gold and silver getting hit. That's the CIA message to try to get people into crypto and out of gold.

Being a lay, I wondered about this development. How is this hitting of gold and silver done? How to protect? What factors are to be considered for keeping your security backup - with the knowledge of the forum in mind? Thanks for explaining.

 

[axj]

Well, Trump is the "crypto president" who wants to establish a Bitcoin reserve and RFK jr is even more crypto-friendly than him. So it makes sense that crypto benefits right now.

Falling gold and silver prices may also indicate that the Trump election decreases risks for the global economy and the dollar for now (gold and silver are one of the hedges when the economy or currencies perform badly).

 

[hlat]

Being a lay, I wondered about this development. How is this hitting of gold and silver done? How to protect? What factors are to be considered for keeping your security backup - with the knowledge of the forum in mind? Thanks for explaining.

They sell gold futures in the futures market to drive it down, and the same applies to silver. The only real gold is physical gold in your possession, and the same for silver. Every other form is just a digital claim that doesn't really belong to you.

 

[nicklebleu]

Came across this article from Armstrong Economics:

In 1996, the US government released a white paper entitled, “How to make a mint: the cryptography of anonymous electronic cash.” Released by the National Security Agency Office of Information Security Research and Technology, this document basically explains how a government agency could create something like Bitcoin or another cryptocurrency.

I encourage those interested to read the contents of the link above. This document was released during the dawn of the dot.com bubble before the technology existed to create such a currency. The NSA quickly realized that it could weaponize this technology to create a cashless society.

Pretty much says the same thing as the Cs.

Link to full article

 

[Breo]

They sell gold futures in the futures market to drive it down, and the same applies to silver. The only real gold is physical gold in your possession, and the same for silver. Every other form is just a digital claim that doesn't really belong to you.

Understood. Is it reasonable to consider the gold price will recover again, independently of the crypto hypes?

 

[Scottie]

Understood. Is it reasonable to consider the gold price will recover again, independently of the crypto hypes?

IMO the short answer is this:

Cryptos are primarily embraced/pushed by the Western economic system.
C's have said cryptos are a CIA-created "bridge to nowhere".
Gold is primarily embraced by the new Eastern/BRICS economic system - not necessarily openly or vocally, but when Russia and China stock up on tons of gold, I tend to sit up and take notice.

How will it all play out? Well, given that Spain and many other places are currently underwater and there's probably an ice age coming (at long last), I'm guessing that's impossible to predict.
So the other advice the C's gave is probably best: What about "needful things"?

 

[Cosmos]

I can understand the allure of crypto and how easily people get drawn into it. It promises incredible gains in a very short period of time while you don’t have to put much effort/sweat into it at all. For some that indeed seems to work (for now) but generally speaking it seems to me that “there is no free lunch“ applies here too and many think they can get free/rich in this way by essentially being lazy. I just don‘t think that is the healthiest approach for most people and might fire back and/or if not, it might create some karmic problems too. It is basically a form of modern gambling to me.

 

[Breo]

IMO the short answer is this:

Cryptos are primarily embraced/pushed by the Western economic system.
C's have said cryptos are a CIA-created "bridge to nowhere".
Gold is primarily embraced by the new Eastern/BRICS economic system - not necessarily openly or vocally, but when Russia and China stock up on tons of gold, I tend to sit up and take notice.

How will it all play out? Well, given that Spain and many other places are currently underwater and there's probably an ice age coming (at long last), I'm guessing that's impossible to predict.
So the other advice the C's gave is probably best: What about "needful things"?

Thank you for bringing up the C´s advice. I keep this in mind in all to come.

Then there is the Eastern position of stocking gold. And then there are all the normal individuals, who are not investors, but stocked a little gold for this collapsing phase now to enable to sustain, eg. rent, etc. How to deal with the falling gold price in the most reasonable way?

 

[Henchman 21]

Thank you for bringing up the C´s advice. I keep this in mind in all to come.

Then there is the Eastern position of stocking gold. And then there are all the normal individuals, who are not investors, but stocked a little gold for this collapsing phase now to enable to sustain, eg. rent, etc. How to deal with the falling gold price in the most reasonable way?

I think the most reasonable way for most people is to enjoy the pullback in prices and keep adding if you’re able. There are of course some who are skilled with reading the charts who may or may not guess correctly where the tops and bottoms are. I don’t worry too much about that stuff. In my opinion the fundamentals are still strong for both gold and silver and the occasional dip in price is very healthy for a longer term bull run.

I happened to be cursed with doctor and dentist bills, neither of which were covered by my insurance so I get to watch this dip come and go without adding anything

 

[axj]

I just don‘t think that is the healthiest approach for most people and might fire back and/or if not, it might create some karmic problems too.

Karmic problems seem to occur primarily due to the violation of free will decisions of others. In stock markets, crypto etc. everyone makes their own free will decision to participate and how much risk to take. It is like a game or gambling, but why would this result in karmatic problems? Taking a risk with one's money is not the same as getting a "free lunch" if one succeeds, in my view.

At the same time, it is true that gambling like that does not seem to contribute to the well-being of others, except when one "loses" and one's money goes to someone else. From still another perspective, the manifested universe is like a game. Can playing games be STO? Maybe if the intent is on having no expectations, doing what is natural to you and allowing the universe to support you.

Isn't ownership of anything outside of yourself STS at the end of the day? Or can this be balanced by what we choose to do with what we own, eg. how we contribute to others?

 

[Benjamin]

So the other advice the C's gave is probably best: What about "needful things"?

I am reminded of when the gov. shutdowns happened in Canada, the first thing to disappear from store shelves was toilet paper. Everyone thought it was so bizarre.

 

[Breo]

I happened to be cursed with doctor and dentist bills, neither of which were covered by my insurance so I get to watch this dip come and go without adding anything

That is really a reasonable take :) Thanks for sharing.

 

[AndrewMn]

I would like to ask for advice from everyone who is better versed in cryptocurrency issues. I am very grateful in advance for your opinion. I won't tell you the background for a long time, but one service was shared with me - here is its link: https://134.122.173.221/b2/kybernetwork
As I understood it, in order to work with this system, I needed to install a SafePal wallet.
Top up the USDT ERC20 and then, by clicking on the link, a certain amount of ETH is credited. Then there is an exchange and payment of daily interest. I am not an expert in such systems, but I know for sure that there are many deceptions and pyramids. I would like to ask you, is it worth trying to work with this system with a small amount? I put $100 into my wallet, they charge $1.6 a day in commission, which I easily transferred to the same wallet. Then a percentage is charged from the increased amount. I checked this service, it seems to be working since 2018.
I have not found any bad reviews on this system in Russian. But I do not know why such a high percentage is accrued. I was thinking of increasing the amount to $200 in the account in order to receive a little more commission. Tell me, is it worth a try, or does it definitely look like a hoax and will close soon?

 

[iamthatis]

I would like to ask for advice from everyone who is better versed in cryptocurrency issues. I am very grateful in advance for your opinion. I won't tell you the background for a long time, but one service was shared with me - here is its link: https://134.122.173.221/b2/kybernetwork
As I understood it, in order to work with this system, I needed to install a SafePal wallet.
Top up the USDT ERC20 and then, by clicking on the link, a certain amount of ETH is credited. Then there is an exchange and payment of daily interest. I am not an expert in such systems, but I know for sure that there are many deceptions and pyramids. I would like to ask you, is it worth trying to work with this system with a small amount? I put $100 into my wallet, they charge $1.6 a day in commission, which I easily transferred to the same wallet. Then a percentage is charged from the increased amount. I checked this service, it seems to be working since 2018.
I have not found any bad reviews on this system in Russian. But I do not know why such a high percentage is accrued. I was thinking of increasing the amount to $200 in the account in order to receive a little more commission. Tell me, is it worth a try, or does it definitely look like a hoax and will close soon?

That commission seems way too high. You should be able to find an exchange that doesn't charge any fees for holding I think. I'm not familiar with Russian crypto scene, but most exchanges charge some small % of fees in the West. Some advertise a no-fee service. If you read some reviews online and you should be able to find a secure platform that charges minimal fees, or only a deposit fee with no holding fee.

 

[AndrewMn]

That commission seems way too high. You should be able to find an exchange that doesn't charge any fees for holding I think. I'm not familiar with Russian crypto scene, but most exchanges charge some small % of fees in the West. Some advertise a no-fee service. If you read some reviews online and you should be able to find a secure platform that charges minimal fees, or only a deposit fee with no holding fee.

Thank you very much for your reply. Unfortunately, I formulated the question incorrectly and the translation worked a little incorrectly. In this case, it's more like earnings.So I put $100 into the system. and the system charges me a bonus in the form of $1.6 (a percentage of the amount) per day. That is, you can earn money this way. I originally used the term "commission" incorrectly . ie.these are rather bonuses for using the system that can be spent. BUT I'm afraid that such earnings are participation in some kind of pyramid scheme.