I’ve been pretty quiet here these past few days…….and there’s reason for that.
I’ve been busy planning.
Aside from the fact that I can’t bear further discussion of the current (or future) state of America, I’ve been very busy planning. Planning for the “next big move”, for the “next big win”, for the “big enchilada” , the “piece de resistance”, the “creme del la creme”, the trade plan / concept for the following year….no scratch that – the following “years”.
Wether you believe it or not – we are indeed on the cusp of a major turning point.
I don’t mean a simple turning point in the short-term direction of markets no ( we’ve got tools to navigate that )…..I’m talking about a major turning point with respect to how you currently live your life ( depending on your age ) , and certainly how you “view” your life with respect to your ability to “accept change”.
I can’t comment on your own timeline. I don’t know if you are 65 or only 16 years old. Point being….regardless of where you’re at – you’ll have to open to the idea that things are going to change…….and likely change far more than you’d ever anticipated.
My dad used to read comic books as a kid – filled with wild ideas of “humans in outer space” and the “discovery of other worlds”. Boom – there we are a few short years later “walking on the moon”.
I “heard” about this thing called “The Internet”, lied to my local bank about starting a “house painting business” , got a loan for 2500.00 and blew the entire thing on a P.C computer. Boom – I’ve travelled the world and life’s a beach.
Changes come fast, some of them good, and some “not so good”.
Change is coming…….and you’ll need to start making plans.
“plus ca change – plus c’est la meme chose”
LD Kong –
You are a kindred spirit. I don’t trade forex, I don’t much trade stocks either. I do invest and I do run successful businesses. I’ve read every single one of your blog posts. I respect what you have to say. I read your blog because you speak the truth and you see the future. You’re a cranky bastard, but that just makes it more enjoyable to read.
I can tell from this post today that you would probably slap the next person you saw who told you that things were getting better and were going to continue up and up until “retirement”. Perhaps this same lemming would call you paranoid, argue with your vision of the future by reciting the latest CNN headline, and pretty much be like 99% of the people out there. You’re probably pacing outside your beachfront hut right now with a beer planning your grand finale play, since you know it’s coming. And it clearly is.
No fiat currency in the history has survived for long after it’s been pulled from the gold standard, but it usually doesn’t actually collapse until it’s been pulled and stretched and leveraged paper thin.
You speak of a fucked future, and a fucked future there will be. There’s no god damn doubt about that fact, since math/resource/human nature speak for themselves eventually. I, however, have already immigrated away from Earth 1.0. I live in Earth 2.0. On Earth 2.0, we use a currency that is a frictionless, unregulated, instant, that requires no middleman to take a cut. Conveniently, on Earth 2.0, this same transactional currency that we use is also a store of value that cannot be inflated, ever, by a central authority. This feature allows me to park my wealth in a place that isn’t going to blow up. In addition to outcompeting every known unit of transfer or idle store of value, the system we use on Earth 2.0 helps us evolve in order to incorporate programmable financial transactions into all types of new technology that Earth 1.0 couldn’t imagine – because it is impossible with their technology.
Earth 2.0 is taking brave new citizens right now, but the candy asses are welcome to join us in a couple years, when the Chinese officially lead the migration.
I’m talking about bitcoin. If you don’t see the light yet, I’m happy to answer any additional questions until you do.
Keep up the great work.
I so appreciate your comments / your “compliments” as well your vision.
It’s a lonely and generally “thankless world” out here in the blogoshere so…I’ll take’ em where I can get em.
Again I thank you for your input / thoughts.
This world 2.0 you speak of is certainly “upon us” if not “already here”, and “conceptually” I am a huge fan of bitcoin – constrained only by the near term limitations / accessibility / means to use / soley as it pertains to my unique situation.
Without getting “too far into it yet” ( as I do see that perhaps here at Kong would be as good a place as any for a “bitcoin area/ discussion/ link” ) for the life of me I can’t find a vendor here on the Yucatan that’ll sell me beers for bitcoin!! ( although I understand that both Australia as well Germany are coming around).
Early adoption and wide eyes for the future most certainly have you ahead of the pack.
Now………. if I can just get beer/bitcoin thing figured out.
I “will” be asking more questions J Galt – your knowledge / experience of significant interest to many.
Thanks again for your contribution here.
Lonely is right. I feel your pain. And quite honestly, if there weren’t people like you, and of course my fellow Earth 2.0 bitcoiners, I may just jump out of an airplane without a chute to see what it would be like.
I’m having the same problem buying beers for my gold coins, too, for the same reason.
Right now, like gold, bitcoin’s very best utility is as a store of value. This is step 1. Conservative merchants aren’t going to jump in the game until they feel left behind.
Since it started from exactly scratch just a few years ago, bitcoin merchant acceptance is in its infancy. (although growing extraordinarily fast – see “Baidu accepts bitcoin” as of two days ago.)
I’ll tell you what, though, LDKong – you get your first Bitcoin post up on this blog, create your own wallet and publish it as a “tip” address. I’ll send you enough bitcoin to keep you in cervesas for a week. That, I owe you.
Bitcoin will be at $300 before the year’s out, and it’ll be at $1000 before the end of 2014. It’s probably more appropriate to measure it in yuan, though. Just like the internet in 1995, there’s no putting this cat back in the bag.
Well consider it done John G. as I’ve been putting this off for some time now.
It makes sense on a number of levels for me to “finally” get set up with Bitcoin, and the “tip” angle works great. Perhaps I can tie it to some kind of charitable contribution on my end etc….or just beers!
It will also make sense to help fellow readers “educate themselves” as to the pros n cons etc so……perhaps I’ll get a ball rolling and a couple of you with “more knowledge and experience” ( as I know another friend is well into Bitcoin ) can pitch in along the way.
I’m on it here today. Is there a particular wallet solution you recommend?
i’ll give ya some beers for bitcoin… or pemmican, eh Chief?
Is that the chief?? No!
Smoke signals to you my friend. Nice seeing you in here.
Don’t be a stranger! You’ve got tonnes to offer / say!
I don’t own a crystal ball, but I’ve been sensing change coming at us for some time now. Actually I feel that change should have come already 4 or 5 years ago, but that something managed to delay it, and it’s like a rubber band… The more you pull it, the harder it slaps back on your face when it breaks.
I don’t know what you mean when you say you’re preparing, but as far as I am concerned I am preparing my mind to experience something drastic.
Well said Me……very well said.
The further it’s stretched – indeed….the harder it snaps back.
I’m preparing some “macro” ideas based on a couple of fundamental principals that we can all pretty much agree on “coming to light” in the “not so distant” future…and means to profit by them.
More on that soon of course.
Indeed Kong, life as we know it will soon change, and NOT for the better. I’m also a disciple of Simon Black, aka Sovereign Man http://www.sovereignman.com who has great advice about how protect ourselves from the Govt grab at our hard earned profits.
Golf was great last couple of days, and next week closing out my positions before the nfp. Enjoy the weekend.
Glad to hear you’ve gotten out and enjoyed Deano! I’ll check out the link / advice here too.
I’ve got no real bead on the NFP report ( Tues ? ) but would have to imagine it to be disapointing….of course trading that is an entirely different issue as “stock markets now go up forever”.
He he…..not so fast right? So we’ll see Tues.
Eyeing that AUD though, about as overbought as I’ve seen in a while.
It would appear Simon Black and I ( and yourself ) certainly have a few things in common!
“Atlas Shrugged” by Ayn Rand is a classic.
I’ve read it about 5 times over the last 40 years, the 1st time while traveling 2nd class on trains in India in 1971.
Thanks for the suggestion EZ!
5 times over 40 years that says a lot! – I’ll have a look.
Wow….India in 1971 – what an experience.
As far as wallets go, there are lots of choices. The very safest would be to run a bitcoin client on your machine, and keep all the coin on your computer. The moment you trust an online wallet, you’ve inserted a third party into the transaction unnecessarily. That being said, there are many third party online wallets that, for the moment, are trusted. I will also warn that I am more of a conceptual guy vs. technical, so I strongly urge you to do your own research. It will pay off. What is now considered a hassle in dealing with complexities will be understood as a barrier to entry to early adoption in the near future.
Bitcoin wallets have two elements 1) An address 2) A private key
The address, or public key, is what you can give to anyone in order to receive coin. This ranges from 27-34 characters.
One private key is associated with each public address, and is only known by the holder of the account, to access his wallet. This is longer, like 52-64. (When is the last time you created a 52 character password online? Hint: If you create an online account with a password shorter than 52 characters, it will less secure than bitcoin stored on your computer.)
Recently, I have read about some super interesting wordpress plugins for accepting bitcoin tips. Each post you make is automatically equipped with its own public address, which is a fun way to see the tip amount for each post you make. Those public addresses will automatically shoot the bitcoin into a separate address that you have assigned in the settings of the WordPress plugin. (I think terk.co uses and explains this.)
The most common argument I’ve heard about bitcoin is that it’s too complicated and hard to use, so that that masses will surely never understand it or go to the lengths to utilize it. In it’s current state, this is most certainly true. Wait a couple years, though, and plugins/web overlays/ETFs will be written overtop the core protocol in so many ways that the masses will be using bitcoin without even knowing they are.
(PS. If you were a genius madman, you could memorize your private key, destroying all paper and digital copies. You would be immune to theft or seizure and could cross borders with millions in wealth. Memory loss from a hard night of drinking would still plague you. )
You “do” know your bitcoin!
bitcoin has a bad habit of booming and busting I’m afraid.
Ezyfx – We’re talking about a commodity that has just been introduced onto the world scene. There are no standards to price it, there are no estimates of its adoption rate, and nobody can clearly see the future. Government regulation hasn’t been established.
What would you expect? Perhaps a nice 5% annual gain with zero volatility?
Based on your username, I assume you are looking for something “ezy”. Bitcoin is not for you, yet. Only those with common sense need apply.
There’s nothing “easy” as you put, it in buying bitcoin. Its the same as buying physical gold… no leverage, and you can’t buy beer with it. In other words, its prettywell useless apart from “hopefully” storing value in the long term.
A good friend of mine was going to buy a lot of bitcoin about 6 months ago because it was being hyped up to high hell, and he asked him my opinion, I told him he’d be an idiot if he put his life savings in it… or even 1 weeks pay for that matter. At the time bitcoin was near $300… 4 weeks later it crashed to about $100.
He has never mentioned bitcoin again.
It’s quite interesting how people in their 50-60s fall back on anecdotal evidence to argue their points. It’s as if one’s natural mechanisms of logic fail, their ass puckers, and all they can do is think of a single event in the past that might argue a point in their favor, as not to expose to the world that they’re not as sharp as they used to be. Analyze the situation, don’t just cough up some “told you so” story that is just about as relevant as the perkiness of my wife’s before she started having kids.
Bitcoin has gone through a couple boom/bust cycles and will certainly go through more. But what we are talking about here is bitcoin as a technology and as a concept. If you want to talk about its short term pricing, go ahead and theorize, but try to do more than regurgitate the same crap that is available with the glance of a chart on a thinly traded Japanese exchange. (It peaked at $266, not $300.)
Bitcoin is not easy to buy right now. The candy asses can buy bitcoin in a few years when it is “ezy” to buy.
Some changes that come to mind for me..
Probably going to see a 3 party political system in the US soon after the recent circus act. Will be interesting to see how that plays out.
US Treasuries are for sure not considered risk-free investments anymore. VERY interesting to see how that plays out over the next 5 yrs.
In general the de-americanization of global trade IE removing the USD from reserve status. VERY VERY interested to see how that plays out. Should be tense at best.
Who wins the next 50 yrs? China?…Russia?…BRICS?
50 yrs? Holy shit Jskogs!
I’ll either be cryogenicaly frozen in some warehouse somewhere by then – or my spaceship will have finally taken flight.
“Short Humanity – Long Interplanetary Travel” – one of the best trades I’ve got going.
He he he…..it’s fun to throw it around, and yes we are most certainly going to see some amazing things here in the not so distant future.
It’s difficult to imagine the U.S reserve currency being given up without the U.S resorting to war first…….so – there’s always “that” to look forward too.
Imagine dying aged 98, old decrepit, shitting and peeing your pants every time you cough… memory shot to hell.
You freeze yourself and unfreeze 200 years later… stillaged 98, old decrepit, shitting and peeing your pants every time you cough… memory shot to hell.
It’s called “resveratrol” EZ……he he he……
And ya….the image of some “frozen ol koot” coming back to life in a futuristic world – not so appealing.
I’m macro bud – and long since past that.
Man…..I’m banking on having a store of “fresh livers” growing in my closet in the next 20 so……me being 23 years old now (joking…..but in spirit) – has me in prime shape!
What say you EZ? – maybe we can get a deal – two for one??
Keeping it light here……it’s a blast throwing it around.
I try and keep in simple, Senor Kong.
Remember you from the days at SMT. I suppose it’s been a while.
With the FXA among other commodity-producing currencies accelerating, do you see gold / miners finally on the move?
As I said, I try and keep it simple in a complicated scenario.
Gracias de E. U. U..
Nice seeing you pop in here PT.
It’s actually quite “timely” that you ask in that…….the Australian Dollar is very much so “on the rader” with respect to some of my “big plans” moving forward.
The correlation with AUD and the movements in Gold itself have certainly “parted ways” as in this particular instance / currency war – gold sits center stage ( regardless of what the media suggests ) while AUD has unfortunately been “playing it out in the trenches” with the debasements of both USD and JPY, coupled with the countries “own internal economic issues”.
Man…..if it where only as easy as “perhaps it once was” when you and I could look at AUD and possibley get a fix on gold.
Now a days….such is not the case.
I’m of the mind set that AUD is bouncing (hard) in a newly established and now long term “downtrend” that is about to take hold once again.
As for Gold’s direction – its up , up and away longer term – but still caught in the grips of “whatever the hell” those boys in Washington are doing here as of late. Could it go lower first? sure.
If I had an extra million dollars lieing around would I be buying on every dip from here on down?
Bet your life on it.
Kong! one thing i’m sure won’t be changing any time soon – the tendency of fear and greed to influence how we humans interact with the markets…
You’ve got that right…….essentially “all that it is”.
Fear and greed….and one’s means to “wrangle / harness” either of em!