Lol. I remember  when I saw that one.

Infinitely divisible!

Sorry, was thinking in terms of price.

All in good time.

The thing is, if you imagine Bitcoin going mainstream, it pretty much automatically goes all the way. Once everyone is using and trusting it, it becomes almost idiotic not to use it for stocks, insurance, contracts, etc. In for an inch, in for a mile. I realized a while ago that there are no half measures. If Bitcoin succeeds for even one of its core envisioned functions on the world stage, it won't stop until it has changed everything even remotely connected to finance - that is to say, just about everything.

Irdial wrote in 2011 about just one small function of Bitcoin, the payment network aspect:


The scope of what is about to happen is beyond what I think any person is able to really fathom. This is the most exciting time to be alive, and it's just going to get more exciting as the months go by.

http://m.youtube.com/watch?v=cOubCHLXT6A&desktop_uri=%2Fwatch%3Fv%3DcOubCHLXT6A

Watch this carefully.

Back in May, while at the Silicon Valley conference, I penned an update to my subs entitled Silicon Valley versus Wall Street. 

Guess who I'm putting my money on? 

 

This video is a watershed moment, and then the roaring applause. "Holy shit. It'shappening.jpg."

No it won't go to zero but if you've ever been short stocks during a  prolonged deflationary phase its an incredible way to make money fast. It's an escalator up elevator down dynamic but very difficult to catch.

But back to the point. Bitcoin is deflationary to other assets. It's been key to my gold thesis. Next up, stocks. The stock market is the most inflated asset around right now. All this bs talk about multiple expansion from Wall Street is the most ridiculous thing I've ever heard.

But no doubt, tptb are going to do everything they possibly can to keep it going up by debasing the dollar. So like I said, Bitcoin will do well in that scenario.

Centralized stock exchanges may become obsolete anyway.  I can foresee a decentralized, peer-to-peer based, global system for exchanging stocks taking over because of the extensive regulation, manipulation, and fees associated with current centralized stock exchanges.  In this case, bids and asks will be broadcast across a network of distributed nodes, transactions will occur when those bids and asks meet, and stock ownership will be permanently recorded in a distributed blockchain.  Bitcoin is already being used to buy precious metals directly so it is only a matter of time before a mechanism to buy stocks directly comes into play and this mechanism may be built on bitcoin technology, using cryptocurrency as the currency of choice when exchanging these stocks.  This will undoubtedly pull money away from the current centralized stock market.

Or am I just dreaming?

Exciting things are happening all through society. Just try not to die for the next 30 years or so and you'll see some really cool developments

Colored coins are unworkable in the real world.  Mastercoin is a scam.

We need a bitcoin-like chain for securities and shares.  We'll get there.  Brokerages will transition to acting as interfaces between the bitcoin chain and the security chain.

Yep, that was key. Ponzis don't bounce remember?

That was a bad time. The shorts were out in force. It took heavy discipline to buy that crash.