Duke of Marmalade
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Well Wolfie you have the answer to OP. North Korea, Russia, Venezuela and Iran. Or did you mean states that we can take seriously?
How long before nation states buy bitcoin?
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The Americans have weaponised money. You think that they are doing good with this? I certainly don't. A couple of years ago, they locked Iran out of international banking - against the wishes of the Europeans. They didn't care - they just acted unilaterally.
Next up....give us an example of how sanctions have really been a force for good in the world? There isn't one! Have you talked to anyone from a sanctions-hit country? ...because I do all the time. In Venezuela, they have a shortage of all manner of things including medical equipment, drugs, etc. A family member of a friend of mine died in Venezuela last year because of a lack of a very basic drug. That death would not have happened had there not have been sanctions. It's one of countless cases of the real effects of sanctions.
Really, I didn't realise I was trying to give a list???
I see you missed out on the sovereign wealth funds of Norway and Singapore - but lets not try and get in the way of the tar and feathering you're trying to achieve, right? If what you're going on with is correct, why are the Human Rights Foundation supportive of opensource software such as bitcoin?
@Firefly : Discussed exclusively in the context of bitcoin. Again, I'll ask - what has that to do with the post you linked to in your previous post?
As regards the last post above from the semantics specialist, no comment!
Surely this point applies to your good self also?
Very true and I've often meant to get up to the big SHMOKE to meet a few of them. Maybe this is the year!!
I thought all the evils of this world were to be traced back to Putin, Kim Jong-un and China (sometimes, only when it suits the narrative)
Yeh, I don't take them seriously myself. The US, and the reds-under-bed "The Russians are Coming!!"
conspiracy theorists do.Duke of Marmalade
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@WolfeTone I'm asking you seriously does this constitute a nation state buying a stake in bitcoin? For your information:
That the cults seeks out these irrelevant trivia in its self justification displays a deep seated insecurity. And they are sure right to feel insecure.
If the above constitutes buying a stake in bitcoin I shudder to think what else it is buying a stake in through its holding of 1.4% of all global stocks and shares.
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Well done Duke. Wasn't that the whole premise of Wolfie's original post? The assumption was that this type of investment hasn't even started yet? And you say it's very little? I agree. Imagine that bitcoin is now a trillion dollar asset with no offices, no employees, no marketing - no nothing - it's just code.
Imagine what price we'll be at when these guys start to allocate a couple of percent.
You can smell the despair and desperation in your posts, your Dukeness!
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Duke of Marmalade
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Can't you understand my despair? I live in dread fear that the cult will uncover that the Pope himself has given bitcoin a blessing through the Vatican's indirect holdings.
Yeah, it's all just a fad, right? That's why these guys have just put $100 million into a blockchain/bitcoin infrastructure company.
The USD is strewn with religious phraseology and masonic symbolism and on the back of that you'd have us believe bitcoiners are the cultists! ...lol
In an indirect way it could be argued that it is a nation state buying a stake in bitcoin.
But for benefit of any doubt the premise of my OP was nation states acquiring bitcoin directly.
I have no need to 'seek out' these 'justifications'. I sense you trying to shift the goalposts once more. You once pined for economists who endorse bitcoin. When some were produced they weren't the 'right type' of economist.
You have propagated the righteousness of the central bankers. But when a central banker gives credence to bitcoin as a SoV, well, its not a SoV that matters its its status as MoE that counts.
And now, if a nation state has acquired bitcoin they are the type of nation states not to be taken seriously. Or the type of indirect acquiring of bitcoin is a symptom of 'deep seated insecurity'!
Do you not recognise how shallow the waters are becoming?
I just think that for any nation state it is an obvious good idea to acquire bitcoin, directly.
I think it is also only a matter of time too, if it isn't happening already.
Duke of Marmalade
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You have summarised my ripostes well.
Misreading me again. I said the irrelevant reference to Norway's very indirect holding of bitcoin as endorsement shows a desperate need for the cultists to seek out endorsement even where non existent. I was not suggesting any dsi on behalf of the Norwegian Oil Fund.
I certainly don't feel out of my depth though @tecate has sensed dispair (sic) and desperation on my part.
I know, you were referring to the 'cult'. My bad.
@WolfeTone : You posted originally mulling over when nation states might place some funds in bitcoin. We find that they've already started and the Duke clings to the complaint that its a paltry sum....even though we set off from the premise that such a thing hasn't even started yet. When you take a sip out of your pint, it's still more than half full. When the Duke takes a sip out of his pint, to his mind the glass is almost empty.
Duke of Marmalade
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@WolfeTone I have to say that if serious nation states or rather their central banks started to hold bitcoin as part of their currency reserves, that would be a shocker - possibly to the point where I would concede that bitcoin is here to stay. I don't think it will happen.
The various other "endorsements" don't really impress me. The introduction of futures. The facilitation of a section of their customer base by some institutions or payment platforms. A couple of mavericks like Saylor and Muskie. Norway Oil Fund having a tiny indirect holding. None of this goes any way to diverting me from the Roubini standpoint. But (serious) central banks embracing bitcoin - well that would rattle me and Roubini as well I am sure.
For avoidance of doubt I am gobsmacked by the $1tr capitalisation.
The various other "endorsements" don't really impress me. The introduction of futures. The facilitation of a section of their customer base by some institutions or payment platforms. A couple of mavericks like Saylor and Muskie. Norway Oil Fund having a tiny indirect holding. None of this goes any way to diverting me from the Roubini standpoint. But (serious) central banks embracing bitcoin - well that would rattle me and Roubini as well I am sure.
For avoidance of doubt I am gobsmacked by the $1tr capitalisation.
Yeah, I had it on although busy with other stuff so it didn't have my full attention. Saylor has had a series of uncontested interviews on the subject so good to see. I don't think it's thrown out anything new though.
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Yes of course, it would rattle everyone.
Effectively, an admission that the overseers had lost control and were scrambling to retain control.
My somewhat crude point before, about the Irish Censorship Board permitting the sale of Playboy in 1995, coinciding with proliferation of internet pornography on every computer. Imagine if the overseers of censorship had tried to hold their ground? It would have been farcical.
Central Banks, and their political creators, will not go quietly into the night that is for sure. That is why I think it is a great idea for nation states to start buying bitcoin. Rather than automatically take a hostile position to bitcoin, take a positive position in it.
Bitcoin does not have to be this great threat to the $ or €. The biggest threat to the $ and € is unlimited money-printing based on a stagnant, permanent policy decision of 2% inflation target.
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True, nothing new - gold bug, Guistra , bitcoin bug, Saylor.
Here is the thing about Saylor I like. His focus on technology and its impact. I think he is brilliant at this and his insight opens the door to anyone interested in trying to understand what bitcoin, or money, is.
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