RE: The r0ach report 33: The world enters a new dark ages without gold and silver revaluation
He’s disingenuous for not linking to the start of the original discussion nor the specific post of mine which he quoted from, where he’s being entirely rebuked and made a laughing stock of the Bitcoin oldtimers community for selling BTC at $600 for silver (which has not increased in price hence). Lol! What a hard-headed fool.
All of his points have been refuted. Yet he adamantly prefers to lie to himself and others. He apparently “thinks” (either a lack of careful thought or disingenuous trolling) he has raised novel points (analogous to as he incorrectly thought on another topic) in this latest blog above and a comment below, but these too are invalidated by the points already made which refuted him. This will be further clarified.
It should be noted that I was a prescient silverbug in 2009 and held up to 18,000 oz at that time. I was also painfully aware of the futility of gold and was searching for a solution when I happenstanced on Szabo’s bitgold just after Bitcoin was launched. And then there’s my wretched inability to invest in Bitcoin at $10 because of some unsavory/unfortunate events that transpired in my life after that.
You have "refuted" absolutely nothing and anyone can see the desperation in your post by trying to claim "oh there's some large crowd of people who agree with me", when such crowd does not even exist. Even if they did exist, who cares? They're scammers trying to profit from cryptocurrency pump and dumps and will say anything to try and profit.
All cryptocurrency are designed to centralize, they all have built-in middlemen, and none remove counter party risk. It does not matter how much hand waving and nonsense you type, these are facts. The base of Exter's Pyramid is determined by what assets remove the most risk.
The amount of black swans that can destroy cryptocurrency are more than you can count. The amount of variables that can cause the rent seeking, usurious middlemen built-in to all cryptocurrency to either refuse or fail to process your transactions are higher than you can count. Physical commodity currencies like the noble metals (silver and gold) do not have these built-in middlemen or risk of catastrophic failure where they can just instantly cease to exist. Anyone who denies this fact is a liar and a fraud.
Since cryptocurrency does not even come close to removing middlemen or counter party risk, they rank on Exter's Pyramid somewhere close to airline miles or Chuck E Cheese coupons. Don't bother posting if you're just going to lie. From a fundamental standpoint, it's completely impossible for cryptocurrency to defeat metals on Exter's Pyramid.