Bitcoin and cryptocurrency, what's a financial bubble? Explanations in 5 minutes chrono!

[Christophe]

Not at all, since crypto-currencies only perpetuate this logic, it's just here a form of 2.0 doping.

Bin not precisely: we can not create bitcoins (to speak only of them) through debt or paper printer as the FED for $! In the Euro zone, we use a little less of the printer ... I think ...

So no no and no, not at all with what you just said ...

The recourse to indebtedness via external financial organizations and to recourse to abstract value in the strict sense (in France the Pompidou-Giscard Law of 1973) is a historical marker of the entry into economic "exponentialism".

And in the allegiance without the knowledge of the people to the banks ...

https://www.econologie.com/philippe-seg ... -publique/

Thank you again for mentioning this point

[Ahmed]

When I spoke of "tangible realities", I was not alluding to a metallic counterpart, which became absolutely inoperative at the turn of the 70s, as recalled sen-no-senbecause of the continual expansion of the global money supply. No, I was simply referring to the backing of physical assets, real estate, industries, all things whose currency was originally symbolic representation. The mere possibility of the fainting of any value of this currency as a result of the bursting of the last bubbles, amply demonstrates the little guarantee that it represents.
This decoupling from "substantial" assets is a second step (after that with gold) that should be carefully noted: from now on, the physical industry is no longer able to mobilize the enormous mass of capital which, however, is obliged to fulfill their essential and systemic function: go on the market and come back fattened.
As I said before, only the financial industry can now play that role. This explains, for example, the good performance of the equity market, whereas the corresponding companies are stagnant.
Probably bitcoin only confirms this evolution and does not even bother to make an illusion ... with the absurdity of this abstraction and its derisory finality.
Perhaps this development will help some to understand the complex, but essential notion of "abstract value" which has always been an inseparable part of real wealth and which tends more and more to go it alone?

[aerialcastor]

Hello,

Christophe, can you tell us concretely how it's going?

Most exchange platforms do not accept FIAT currencies but payment altcoin, is not it? We must therefore go through a more specific exchange like coinbase which allows payment in EUR but which has very (very) little crypto currencies. Then with its corners you can go to another exchange like gdax. I have good?

When is it a fee for small sums? The fees are neither fixed nor proportional to the amounts of the transaction, but depend on the interest of the minors to validate the transaction?
I quickly calculated that for 100eur there is 9% fee for altcoins going through the BTC box. You comfy?

Another thing, there is a very long validation time for a transaction, especially if the minor does not have too much interest in validating it and because in essence the blockchain of the BTC to a very limited number of possible transaction by second. The question is, when you make a transaction, the price is set when the request or when the minor validated (which takes several tens of minutes)? Because the volatility of crypto currencies changes everything.

[Ahmed]

I watched the video with Séguin: at one point, he talks about the "crisis" and its possible exit ... Crisis is the magic word which only translates the incomprehension of what "economic exponentialism" is: there is no "crisis", just the inconvenience of determinism that does not concern us at all ...

[Christophe]

Hello,

Christophe, can you tell us concretely how it's going?

Most exchange platforms do not accept FIAT currencies but payment altcoin, is not it? We must therefore go through a more specific exchange like coinbase which allows payment in EUR but which has very (very) little crypto currencies. Then with its corners you can go to another exchange like gdax. I have good?

Hello,

Ah finally an interested ...

So Coinbase and Gdax is the same platform (same account for transfers) Gdax just has more responsive and more interesting tools and lower costs. There is a demo accessible to all, on the ETH example we have this: https://www.gdax.com/trade/ETH-EUR

On Coinbase you can only buy the course instantly, you do not have the order book or the history of the orders as on gdax ... but you have a history greater until 1 year (without great interest to trade) on GDax is a few weeks max ...

On 2 there is 3 crypto in € available (the Bitcoin Cash should be available in EUR before the end of January ...).

Transfers in one direction or the other are reliable (but a bit long: up to 7 calendar days).

I have no experience in other platforms ... but I would hesitate to convert $ to $ to put on an account in China (the other big platform are Chinese ...) ...

Gdax is an account in € and in Europe ...

When is it a fee for small sums? The fees are neither fixed nor proportional to the amounts of the transaction, but depend on the interest of the minors to validate the transaction?
I quickly calculated that for 100eur there is 9% fee for altcoins going through the BTC box. You comfy?

No I do not confirm, on gdax the fees are at 0.0% when you place LIMIT or STOP orders ... Otherwise it is 0.3% or 0.25% when you trade at the "price" of the market (MARKET)

All explanations here: https://www.gdax.com/fees/LTC-EUR

When you sell it's 0.0% all the time ...

Another thing, there is a very long validation time for a transaction, especially if the minor does not have too much interest in validating it and because in essence the blockchain of the BTC to a very limited number of possible transaction by second. The question is, when you make a transaction, the price is set when the request or when the minor validated (which takes several tens of minutes)? Because the volatility of crypto currencies changes everything.

Uh, we're not talking about mining here but about trading ... I don't know how to put on the "market" a BTC that would have been mined ...

All the "MARKET" transactions I have done (quite a few) have been instant but still on very small volumes huh ... so ... I do not know if 10 BTC or even 1 BTC can be sold or bought in the second ...

I happened to have in order to execute helper splittings in 2 or 3 under orders that either the purchase or sale ... so I image about the guy who wants to sell BTC 1 will be well split !!

Example: we demand the sale of 0.5 crypto, the sale can be divided into 3 transaction 0.12, 0,28 and 0,10 ... As the costs are either 0 0.25%% either homeless, it does not change at all .. .

If anyone on this forum play with bigger sums so I want to know how it goes I imagine there are no limits to the number of sub orders ...

[Christophe]

I watched the video with Séguin: at one point, he talks about the "crisis" and its possible exit ... Crisis is the magic word which only translates the incomprehension of what "economic exponentialism" is: there is no "crisis", just the inconvenience of determinism that does not concern us at all ...

A) The message I wanted to convey through this video is mostly the passage where he says that the vast majority of our taxes on income go to the repayment of debt and not to the interest of the people or the distribution of wealth (the opposite actually!)...it is to my knowledge the only politician of national level who dared to say that in public!

He died less than 6 months later ...

All this disturbs me a little ...

B) For the rest, the crisis does not exist for everyone, the world GDP continues to progress: to hammer to people that it is the crisis just makes them more docile ... and allow to further increase inequalities!

[Ahmed]

World GDP is constantly increasing and it can hardly be otherwise, since it is the basic rule of the system and expedients are put in place when the ordinary method is no longer sufficient (see above).
Marx is no longer in fashion (some of his analyzes are moreover largely outdated ...), but he distinguished between crises, moments of temporary blockage of the mechanism, surmountable by a reconfiguration of the economy and what called the "internal boundary" which represents a systemic contradiction that has come to an end and insurmountable by definition. I think that the reversal of the economy* can be a clear sign of the ultimate economic stage ...

* The role of the manufacturing industry was to produce abstract value (not only that, but only this is important for the systemic metabolism), whereas for several decades, it is thanks to the financial industry that the economy "real" (?) can continue to work.

[sen-no-sen]

Bin not precisely: we can not create bitcoins (to speak only of them) through debt or paper printer as the FED for $! In the Euro zone, we use a little less of the printer ... I think ...

So no no and no, not at all with what you just said ...

You did not seem to understand my point.
Until the 1970s, the growth of industrialized countries was continuous, then it was naturally slowed down to "normally" stop.
This is a process inherent in all self-regulating thermodynamic structures of the giant sequoia shrew.
Industrial civilization is an anthropotechnical super-organism resulting from the synergy of human and technological actions, so that it is endowed with a metabolism like any other living being.

The 70 years were a turning point marked by 2 oil crises (1973 / 79) sort of historical markers presaging the limits of growth.
However, the strategies * put in place during the stagnation of growth in industrialized countries (in France the end of the "30 glorious years") resulted in the start of a process of exponential debt.
Exponential debt marks the beginning of the phase of economic "exponentialism". If dark energy is, according to some theories, at the origin of the expansion of the Universe, mass indebtedness allows the expansion of the economic universe.

Debt is therefore not an accident,but a logical process inherent in a historical force.
If the limits of economic growth 70 years have been exceeded through the economic coalescence (liberalism, forming European Communities), the years that we are in Butte on the negative externalities produced over the period 1970 / 2017 and limits physical (peak all).
Faced with this accumulation of "disappointments", a set of measures have been developed to push the limits of growth ever further, with the drifts that we know:Quantitative easing,Default Swap Credit,subprime etc ...

Bitcoin appears in 2009 in response to the previous financial crisis, do you really think that it is a means of emancipation? Or an umpteenth strategy * overtaking?

I'll let you answer ...


* Strategy does not necessarily induce the notion of human will, but rather of "systemic logic".

[Ahmed]

Since the abstract value resulting from human labor is no longer sufficient to generate sufficient profits for the colossal amount of capital now accumulated (for several reasons, the most important of which is the exclusion of human labor from the production of goods), there is no longer any only two options: the recourse to debt, which is, conceptually speaking, human labor which is assumed to be performed later (which is obviously absurd) or the rent effect, which is here the subject about Venezuela (and Norway). These are two palliative means in the short term, the first because the debt can only be repaid by a larger debt, the second because the mining rent is always temporary.

Bitcoin appears in 2009, in response to the previous financial crisis, do you really think it is a means of emancipation? Or an umpteenth strategy * overtaking?

[sen-no-sen]

A) The message I wanted to convey through this video is mostly the passage where he says that the vast majority of our taxes on income go to the repayment of debt and not to the interest of the people or the distribution of wealth (the opposite actually!)...it is to my knowledge the only politician of national level who dared to say that in public!

Beware of the populist conclusion ...
To think that one could "grab" the debt money and redistribute it is a mistake in reasoning.
We are no longer at the time of highwaymen!
This kind of thesis is very popular at the far left / right but does not reflect the reality at all.

Debt is a process that promotes expansion, it's a force which, like a black hole attracts us to a new horizon (I know I feel the soul of a poet! )
If no debt had been incurred we would not be in the same company at all, our consumption level would be much lower.
To give an idea, the purchasing power of a French would be at the same level as that of an Iranian late 90 years.
Of course it would have been a wonderful thing for the biosphere, but in the minds of people, ending the debt is to imagine a significant increase in purchasing power (= power to dissipate more energy)!