Gareth

Hobby farmer

[Gareth @TrusteeSlocombe]

@Oliver_MSA With you all the way Michael!

[Gareth @TrusteeSlocombe]

@SantiagoAuFund It is impossible for the gold line to move up in any appreciable way without a gold asteriod hitting earth. The only way for currency to be backed with gold in any meaningful way is through a rising price.

[Gareth @TrusteeSlocombe]

30+ years as a bankruptcy trustee. Probably 15-20,000 meetings with people in financial difficulties. Spidey sense or pattern recognition became pretty good but very often the most telling indicator that something isn't what it seems is "the dog that didn't bark". There are a number of those when it comes to assessing the credibility of bitcoin.

[Bob Loukas 🗽 @BobLoukas]

The "Saylor Put" era seems to be coming to an end.

[Gareth @TrusteeSlocombe]

@LionRiver3 @Breedlove22 That also makes it a bit suspicious. Oh look! Right out of the blue! Bitcoin is here to solve all our debt problems! Whew. Just in the nick of time.😊 Thirty years in the bankruptcy business has my bs detector tingling.

[Gareth @TrusteeSlocombe]

I think we all know bitcoin not digital gold. Gold is gold. That doesn't mean blockchain can't serve a purpose. See the BRICS now setting up a number of gold depositories for member nations to deposit gold and have it linked to an exchangable token for international transactions. They can keep their national currencies and can skip the US$ when trading with other member nations.

[Gareth @TrusteeSlocombe]

@LionRiver3 @Breedlove22 So hypethetical bitcoin 2.0 (identical to bitcoin 1.0) can't happen because bitcoin 1.0 left the station so long ago that it can't catch up. Is that more or less the argument?

[Gareth @TrusteeSlocombe]

@LionRiver3 @Breedlove22 I'll ask you, what does bitcoin do that is so unique that no other coin (of which there appear to be thousands) couldn't do? Isn't it just a shared ledger used to transfer "money" between two parties. I am genuinely trying to understand this better. I'm not an expert.

[Gareth @TrusteeSlocombe]

@PatrikLind11 @Breedlove22 Fair enough, but Ford was initially very popular and so is bitcoin. Neither were/are monopolies.

[Gareth @TrusteeSlocombe]

@onechancefreedm When gov't starts printing $ to oblivion, which would you rather own, gov't debt or private debt?

[Gareth @TrusteeSlocombe]

@silverguru22 Be careful with those stats. Charging that much energy in that short a time may require much more amperage than our homes have. Would fry the circuitry if you had it.

[Gareth @TrusteeSlocombe]

I appreciate your response and understand that there are infinite "flavours" of crypto and that there are some very useful applications and uses. But at the end of the day crypto is simply not a store of value without something real and finite backing it. Even gold has its limitations but it has stood the test of time.

The US is insolvent and the stablecoin thing is really just kicking the can. I'm just trying to understand the whole landscape and dynamics in order to hopefully stay ahead of the curve and invest wisely.

Thanks.

[Gareth @TrusteeSlocombe]

"Loop" would be one word. I can't help getting the feeling this is a giant ponzi. I just spent an hour googling trying to get an answer to "Is the supply of crypto currencies infinite?" and the answer is obviously yes but nobody on line wants to just say it. Why is Bitcoin not a store of value? Thiscoin, Thatcoin, Bitcoin 2.0, 3.0, 4.0 ...... Am I missing something?

[Gareth @TrusteeSlocombe]

@TFMetals @CNBC Bitcoin 2.0....Bitcion 3.0....Bitcoin 4.0.....

[Gareth @TrusteeSlocombe]

@brianlilley Is he purposely knocking off the g's at the end of words to sound more like one of the boys? "....how we're doin..."

[Gareth @TrusteeSlocombe]

@SemperVigilant1 Do we know how much PSLV will actually buy if/when it stops trading at a discount? Does it have the cash now?

[Gareth @TrusteeSlocombe]

Good call on the bounce. The folks over at the CLX site are very bullish but I am definitely starting to getting a bad vibe from this market. Just seems to be getting more violent on the downside and more "tired" on the up. Maybe only a few days before a turn. Vix is slowly sneaking up and bonds as well. Also lots of fundamental reasons for a major economic turn. Would appreciate anything more you have to add. https://t.co/n9G1HQ9esc

[Gareth @TrusteeSlocombe]

@mrktlarry Yes. That is helpful. Also the figure posted by Moorso (not exactly sure what it is) seems to correlate well with market turns when it reverses from a reasonably high or low reading.