algernonsidney

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algernonsidney last won the day on January 20 2020

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  1. Bitcoin is hardly the only cryptocurrency out there right. Other cryptocurrencies have actually been doing better than Bitcoin since the bottom of mid- March 2020. Some are: Cardano (ADA) Celsius (CEL) Polkadot (DOT) Ethereum (ETH) Binance Coin (BNB) The era of cyrptocurrency is much like the era of wildcat banks. This was from Andrew Jackson to the Civil War. It was also arguably the greatest period of economic growth in American history. I would also argue that in the NORTH it was the most capitalist time. Bitcoin has to stay honest because of the competition, although there are plenty who want to corrupt. If people lose faith in BTC, they will go elsewhere. ETH is a solid #2 right now in market cap--currently about 1/2 of BTC. There is somewhat of a horse race for the #3 crypto. We've already seen the US Government try and fail to destroy one cryptocurrency. That is Ripple (XRP). It has made a great comeback since January, even though it was taken off US-based exchanges. ETH actually has a good shot at overtaking BTC. In the middle of July, there will be a change that will reduce the number ETH token produced per day. It will go from about 13,000 per day to about 2,600 per day. Don't be surprised if ETH takes over BTC in market cap. By the way, at the bottom of the Corona dip in March 2020, ETH was about $100; and BTC was about $4,000. ETH has now peaked at over $4,000; while BTC only made it to about $60,000. I'm sorry I didn't buy them. That's about 40 times versus about 15 times. Cryptocurrency tokens are not like stocks. You can part of one token, so you can buy part of a Bitcoin if you don't have enough for a whole one. There are well over 6,000 cyptocurrencies out there. Well over 5,000 are scams. Many are doing very interesting things, and they are making good efforts to change the world. That is also many more than Linux distributions. The sad truth is that cryptocurrency is where the only good guys in tech are left. There are no good guys at Google, Microsoft, Fuckbook, or Apple. Unlike big tech, there isn't any easy way to consolidate cryptocurrency. Chase can buy a small-town bank or even a smaller chain of banks. American Airlines can buy US Air, TWA, and other airlines. Microsoft can buy Great Plains. Bitcoin can't buy Ethereum. Ethereum can't buy Polkadot or Cardano. I don't see how cryptocurrency can be corrupted at this point.
  2. It's a year later, and Jim is still embarrassing himself. He accuses Sweden of "narcissistic authoritarianism": https://medium.com/the-radical-center/narcissistic-authoritarianism-failed-sweden-and-killed-people-1612334945f5 Jim is one of the most narcissistic people I have ever known. For years, he has portrayed himself as an arbiter of libertarian purity. In spite of this, he loves Milton Friedman and went full-blown corona zombie in 2020.
  3. I actually think it will still be at least twenty years before the dollar "goes to shit." Most of the countries in Central and South America guarantee that, for example. There are many other currencies that stink worse than the American dollar.
  4. Smart contracts and other things are also a part of the crypto space now. I am largely convinced that Ethereum will take over Bitcoin in a few years. Bitcoin was the first big one, and it was a great pioneer. Many of the other cryptocurrencies are learning from Bitcoin's mistakes. Litecoin tried to do that, but it's not been that successful. It is definitely going to get interesting. By the way, LTC still hasn't passed its all-time high in 2017. BTC and ETH passed that 2017-2018 high long ago.
  5. Right now, all the Bitcoins in the world are worth more than all the Russian rubles in the world. BTC is #14. It's going to get higher: https://coinmarketcap.com/fiat-currencies/
  6. Well, how do you get to a truly free economy? Do you think it will ever happen via the ballot box? HELL, NO. Do you think the billionaires will ever allow a truly free economy to happen? HELL, NO. Do you think the politicians will ever allow a truly free economy to happen? HELL, NO. Do you think college professors will ever embrace a truly free economy? HELL, NO. Cryptocurrency goes all around all these problems, and there really isn't much that can stop it. XRP (Ripple) has actually made a huge comeback recently, in spite of a crash caused by US regulations. The only way to have a truly free economy is to have an economy that can not ever be subverted by governments. Maybe it won't happen with cryptocurrency, but it's the best hope by far.
  7. If you are interested in learning more about this stuff, I recommend this channel. This guy is really good and very passionate. He has uploaded hundreds of hours of quality content: https://www.youtube.com/channel/UCz5VudS3Xfile_p3OR7dQtw
  8. You can buy Bitcoin at ATM's. There are anonymous ways to get it. You can get your own wallet and keep it on your phone or your computer. Bitcoin is being used a lot in places like Venezuela. It is also become a haven for people who have been de-platformed. Wikileaks started taking Bitcoin when everybody else kicked them off. That included credit cards. I do think we need an "AOL for crypto." We haven't had one so far.
  9. Back in the 1990's, it seemed like Objectivists were on top of all the new technologies. When I went to the IOS seminar in 1995, about half the people had email. I had never met so many people with email addresses. I got onto Compuserve that November, and it opened up a new world. I also noticed that many of them were into Linux and open-source software. Now, I see the Objectivist movement and can't seem to find anybody interested in cryptocurrency. While they hate fiat currency, they ignore one thing that has the potential to destroy fiat currency. Perhaps, I haven't met the right people. But I do wonder: Why don't Objectivists seem to care about cryptocurrency?
  10. Yes, I do find it interesting that there are some Objectivists who just dismiss EVERYTHING as a "conspiracy theory." Well, conspiracies have always been a part of history. They always will be as well. Here is the definition of that word: 1. the act of conspiring. 2. an evil, unlawful, treacherous, or surreptitious plan formulated in secret by two or more persons; plot. 3. a combination of persons for a secret, unlawful, or evil purpose:He joined the conspiracy to overthrow the government. 4. an agreement by two or more persons to commit a crime, fraud, or other wrongful act. 5. any concurrence in action; combination in bringing about a given result. Are Objectivists seriously trying to tell me that everything evil that happens in the world is because of a single actor? Are you going to tell me that Frank and Jesse James were both acting on their own and hasn't conspired to rob people? Rand herself called the Communist Party a "criminal conspiracy" to overthrow the government. Are you going to tell that gang rapes are just random acts?
  11. Are you saying that conspiracies don't exist then? For example, do you think the four hijackers on 11 September 2001 were all acting independently? Was it just a coincidence that they all just hijacked planes on that same day?
  12. People from West Virginia don't travel much, and people don't go there.
  13. When and where did ARI support the bailouts of 2008? Please provide a source for this.
  14. Richard Salsman has been very critical of the destructive lockdown policies, which any sane and rational person would oppose. ARI and some of the people there have been wishy-washy about them. Ultimately, I'm not particularly disappointed with ARI. That''s only because my expectations are so low. ARI actually invited this guy to speak at the virtual OCON. Here we have an "Objectivist" gushing over a man who has spent 50 years as a bureaucrat. During OCON, Amesh Adalja called Anthony Fauci "a hero" at least three times. He hardly ever said anything about free markets in medicine, although he did bring up the issue of certificate-of-need laws. After watching all this, it is safe to conclude that epidemologists are even more incompetent at making predictions than investment advisors at picking stocks or meteorologists at predicting the weather.