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Gold Coin And Bar Shortages Likely To Lead To Rationing

GoldCore's picture





 

Today’s AM fix was USD 1,246.00, EUR 911.89 and GBP 757.86 per ounce.
Friday’s AM fix was USD 1,232.25, EUR 906.53 and GBP 750.78 per ounce.

Gold climbed $18.70 or 1.52% Friday, closing at $1,247.10/oz. Silver rose $0.56 or 2.86% closing at $20.13/oz. Platinum climbed 14.85, or 1.1%, to $1,428.10/oz and palladium rose $5.99 or 0.8%, to $739.10/oz. Gold was up 0.87% and silver was down 0.15% for the week.

Today's gold prices continued last week's rally, strengthened by a disappointing U.S. jobs number which creates doubts about the strength of the U.S. economic recovery.


Gold in U.S. Dollars, 1 Year - (Bloomberg)

The Perth Mint's Bron Suchecki has written an interested blog post regarding the real risk of gold coin shortages and rationing happening again:

The extraordinary demand for precious metals coins following the 2008 global financial crisis caught the minting industry by surprise, resulting in never before seen coin rationing and shortages.

It seems not much has changed, with recent reports that the UK Royal Mint ran out of 2014 Sovereign gold coins due to "exceptional demand", as well as the continuation for over one year of an allocation program first put into place early 2013 by the US Mint on its ever popular silver Eagle bullion coins.

While these recent events have been limited to specific coins, with availability of other leading bullion coins like the Perth Mint’s gold Kangaroo not affected, it does seem to indicate that worldwide minting production capacity is still unable to meet demand surges.

However, it is little appreciated that the bottleneck in the global coin minting process is blank (planchet) manufacture. This is a far more complex process than simple stamping of a coin, particularly around purity and accurate weight control.

If you dig deep, you will find that many of the coin supply problems come from underestimation of demand and the resulting exhausting of blank inventories. Often, blank suppliers are mints themselves and can face conflicts where they earn more by prioritising blanks for internal use rather than supply externally. Running higher blank inventories is often not an option, due to the cost of funding the high dollar value of the inventory.

 
How high coin premiums can go when coin demand overwhelms production capacity - (Sharelynx)

Notwithstanding the capacity expansion by blank suppliers over the past five years, in my opinion there is no way the industry can meet the demand that would occur were precious metals to see even a small bit of interest from the mass market. While cast bars are a lot easier to make and refiners are much more casting production capacity, I am not even sure if it could meet sustained mass market demand.

For now 2008 style shortages and rationing don't seem to be on the horizon but the fact that the UK and US Mint are having supply issues on a few of their product with metal prices at these low levels is an indicator that as prices rise and (re)attract investor interest, shortages and rationing may become a reality of coin buying life again.

The interesting and informative blog post can be read here.

This is another reason why is you are considering buying coins or bars in volume for delivery or bullion storage in Zurich or Singapore, it is best not to wait.

“Don’t wait to buy gold and silver. Buy gold and silver and wait.”
 
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Tue, 01/14/2014 - 07:51 | Link to Comment mogul rider
mogul rider's picture

no pump and dump intended

kehuck

Alright people LINE UP HERE! GET YUR PHYSICAL HERE!!
HURRY BUFOR EET'S GUN!

lemme guess you want me to btfd - right.

Well many retards did and they live in boxes now..... That gold trade sure worked well.

 

Have you pumpers no shame>

Tue, 01/14/2014 - 05:26 | Link to Comment satoshi101
satoshi101's picture

Today we have a Gold post and a BTC post, you would think the BTC ho's would be over on the POT post?

But nope they're over here  on GOLD, what the fucking hell does BTC toilet paper have to do with GOLD? Physical fucking GOLD?

It's a stupid argument from the start, sure the Ho's created words like 'mining', which is just finding primes, ... fucking stupid words, ... just marketing morons that want people to think 'that BTC is good as gold"

Guess what?

BTC is as good as HUMAN SHIT or DOG SHIT.

 

Tue, 01/14/2014 - 09:05 | Link to Comment unrulian
unrulian's picture

I wish my dog would shit bitcoins so i wouldn't be bothered to go pick them off my lawn

Tue, 01/14/2014 - 03:28 | Link to Comment satoshi101
satoshi101's picture

If you send me your nasty physical gold, I can fill your life with Bitcoin and you can live happily ever after.

No more worry's, no more fear,

 

Eternal bliss can be yours today, if you send me your Physical Gold I'll gladly return bitcoins to you.

 

Let's talk, and more.

 

fonestar@gmail.com

 

Tue, 01/14/2014 - 02:36 | Link to Comment The Wisp
The Wisp's picture

Mono Atomic Gold, why hasn't anyone on Zero Hedge talked about Mono Atomic gold it explains everything, the Shortages, the Lies the Hoarding, why the governments want it everything including the golden calf..  You can't eat Gold.. Yes you can the Priests were feeding it to the Pharaohs  no wonder it is so Valuable.. wake up People Warp Drive Anti gravity, Cancer Cures, Nano Engineering, it's all there and it explains why the price of gold is going to skyrocket

Tue, 01/14/2014 - 00:39 | Link to Comment onearmedlove
onearmedlove's picture

Tulving almost straight out of everything. Amazing.

 

http://www.tulving.com/goldbull.html

Mon, 01/13/2014 - 23:21 | Link to Comment kurt
kurt's picture

Crapoganda

WHO's gonna ration it? Talkin his book

Mon, 01/13/2014 - 23:13 | Link to Comment lostintheflood
lostintheflood's picture

don't wait to buy the gold and silver.  buy the gold and silver and wait...

Mon, 01/13/2014 - 22:10 | Link to Comment bill1102inf
bill1102inf's picture

So much for supply and demand economics. If everyone said they would sell their gold for 4K then we would get somewhere but right now, you can buy gold for a little over spot, or at spot regardless of the so called lack of supply. If you can buy it, there is supply. Period. end of story

Mon, 01/13/2014 - 16:08 | Link to Comment DiggerUK
DiggerUK's picture

Alongside an article that contains a reference to the The Royal Mints failure to mint enough 2014 sovereigns, we have adverts for  2014 sovereigns.

And gold bugs get miffed when they are described as being 31 grammes short of an ounce.

..._

Mon, 01/13/2014 - 16:05 | Link to Comment whoknoz
whoknoz's picture

If you can touch it, it can be taken away.  The safest store of wealth ever invented is a Bitcoin brain wallet, a secret you can remember forever, which is required to unlock a wallet stored redundantly on computers all around the world...

all you need is for those computers to be forever working just like the day you tatooed your brain with a passcode...

several 1000 years in the PMs are still "good as gold", as they say...

 


Mon, 01/13/2014 - 16:07 | Link to Comment akak
akak's picture

 

If you can touch it, it can be taken away

I guess I need to stop touching it, then.

Mon, 01/13/2014 - 19:33 | Link to Comment Lin S
Lin S's picture

You'll go BLIND if you don't.

Mon, 01/13/2014 - 19:52 | Link to Comment akak
akak's picture

My 40 year history of regularly 'touching it' while still retaining my vision makes a complete mockery of that theory.

Tue, 01/14/2014 - 00:27 | Link to Comment mt paul
mt paul's picture

it's -43 below

 

i'm having trouble finding it

let alone touching it ...

Tue, 01/14/2014 - 03:44 | Link to Comment AE911Truth
AE911Truth's picture

A 5,000 Watt Bitcoin miner would keep it warm.

Mon, 01/13/2014 - 19:27 | Link to Comment mijev
mijev's picture

It's mine and I'll wash it as fast as I like.

Mon, 01/13/2014 - 15:59 | Link to Comment whoknoz
whoknoz's picture

On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network." ...(and not) "Being able to devalue the BTC by constantly raising the 21 million limit."...OK, I  am still confused...and can we who are not yet sure of BTC ask more questions?

Mon, 01/13/2014 - 14:22 | Link to Comment groundedkiwi
groundedkiwi's picture

Just Google " gold mines laying off workers " to see why supply is down.

Mon, 01/13/2014 - 14:18 | Link to Comment Joebloinvestor
Joebloinvestor's picture

DEATH TO COUNTERFEITERS.

 

Quit screwing around.

 

http://www.bbc.co.uk/news/uk-england-birmingham-25710800

Mon, 01/13/2014 - 13:34 | Link to Comment Conax
Conax's picture

I have no ax to grind against BTC, after all, we are not totalitarians.  If some people opt to transact in it, or hold it as a speculative bet that is entirely their business.

This story was about a gold bar shortage, though, and the whole thing is all BTC.

I'll go check other stories for some gold comments.  Maybe they will pop out on some BTC thread.  ;)

Mon, 01/13/2014 - 13:18 | Link to Comment Papasmurf
Papasmurf's picture

Yawn.  Another goldcore article.

Mon, 01/13/2014 - 12:44 | Link to Comment aardvarkk
aardvarkk's picture

I HAVE A DREAM!  ...that there could be an article on ZH where the comments section does not devolve into a food fight over bitcoin.  It was interesting awhile ago.  Now not so much.

Mon, 01/13/2014 - 12:36 | Link to Comment OutLookingIn
OutLookingIn's picture

Physical gold or silver.

In your possesion outside the system.

ALL the rest of so-called "money" is nothing more than faith. Been this way for thousands of years.

Fiat currencies? Not so much. Stay with the "tried & true".

Mon, 01/13/2014 - 10:02 | Link to Comment GrinandBearit
GrinandBearit's picture

Supply and demand has not meant anything for the last 2 years.

When the paper manipulation ends, then it might matter.

Mon, 01/13/2014 - 09:33 | Link to Comment unwashedmass
unwashedmass's picture

 

you have gold, you don't have to contribute to jamie dimon's multigenerational wealth. 

good enough for me. 

Mon, 01/13/2014 - 09:20 | Link to Comment new game
new game's picture

digital fraud vs moneky hammering

take your pick

 

Mon, 01/13/2014 - 09:13 | Link to Comment free_lunch
free_lunch's picture

Bticoin vs GOLD

Some basic questions about Bitcoin

- Why is it so pumped by the mass media, Wall street and even BERNANKE stating: 'Bitcoin May Hold Long-Term Promise'?
- Why is the inventor not standing proud to receive all the glory? Can a coder write virtually flawless and supposably unbreakable code in first attempt, when all the mayor software giants cannot?
- Why trust a currency which depends on the internet and digital devices that are easily controlled by some well known organisations and even unknown ones?
- If nearly all devices have a secret backdoor coded, could BTC have one also?
- What about the poor without computers.electricity or internet?
- If BTC were to be used by the world, what powers would that give to anyone who could take control over it?

  • 100% detailed tracking of EVERY transaction by anyone, anywhere in the world.
  • Being able to devalue the BTC by constantly raising the 21 million limit. (FED style)
  • 100% information over every world citizen: wich books read, wich food eaten, wich bars visited, which property owned, ect..
  • Ability to instant financial starvation of any organisation, person or even country that they don't like by purging them from the 100% controlled system
  • ...

With BTC as global currency BTC, it could potentially be like wearing a explosive belt and handing the remote detonation device to the people who manage to control it.

What about this article: Will BTC replace the Dollar? http://www.globalresearch.ca/will-digital-currency-replace-the-us-dollar...

What about the design flaw that could force BTC to end up being a client/server structure, which users would be happy to accept if the can choose between BTC dying(with their wealth stored in it) or accepting a client server enviroment(central banking system) : http://beforeitsnews.com/alternative/2013/12/bitcoin-what-youre-not-bein...

Considering the above could hold some truth, it is very hard to make a good judgement on BTC and what it is, or what it is going to be in the future.

This all leaves me skeptical and undecided about BTC.. don't know what to make of it..

Personally i prefer gold 1.0, since there is a serious potential that gold 2.0 (btc) can be deleted/stolen remotely wich leaves you broke with no place to complain/sue/held accountable. At least with my bank acount i know where to complain and get my money back, when it should disapear from my account overnight.

To me it sounds crazy that people are investing millions of Dollars in a system written by a ghost, with all the uncertenties mentioned above. Unless you or your associates have the abbility to print money out of thin air, then of course it would be no problem. then one could go on buying through several channels pumping up the price and gaining attention and credibillity for BTC while doing so.

Mark Twain "It's easier to fool people than to convince them that they have been fooled

If there is a big conspiracy behind BTC, chances are we will all be using it sometime in the future, liking it or not. If there isn't BTC will become/remain marginal due to future law and regulations. Our thoughts will have little influence on the matter.

Gold however will always have value, expressed in Yen, Rupee, Dollar, EURO or BTC.. Because it can not be printed nor vaporised and has a track record of surviving all wars, disasters, religions, ideologies, governments and currencies for over 5000 years..

Tue, 01/14/2014 - 03:41 | Link to Comment satoshi101
satoshi101's picture

'Free-Lunch'

Great name because your handle typifys the BTC crowd, they're all a free-luch crowd, none of these rascals ever bought BTC's, even fonestar admits he works for chinese friends in exchange for BTC's.

The problem with arguing with PRO-BTC moron's is that you cannot win an argument with a moron, what's the point?

Long ago a wiseman said "Neverer argue with morons in public, as the the other morons will not know who is a moron"

While I agree with what you have said, it  is clear that the majority here on ZH are morons, it is clear that they too got 'free-lunch' Bitcoins, just like papa-ron-Paul and all the other BTC players.

Like you quoted Mark Twain, its fairly easy to pump&dump a moron, but explaining to him later that he had been robbed, you just get a dumb 'bambi in headlight stare'

Nobody in this ZH forum is going to admit that BTC is a fuck, and even after the fuck, they'll just say 'OLD NEWS'

Look how few people talk of beanie-baby's? Yes, only in 1999 they had over $10BILLION capiltalization, just like BTC today, and yet nobody will talk about it.

BTC is the ultimate fraud because now you get robbed nobody will help, and POST-BTC, nobody will help you.

Thank god that our good friends here on ZH ( the Morons ) didn't "INVEST" real money in this BTC-BITCH,

The question begs WHO the fuck did buy this? Probably nobody the MINING-POOLS and EXCHANGES can keep the price artificially HIGH forever.

Now they're trying to engineer a PANIC daily we see this "TURN YOUR GOLD INTO BTC WHERE IT WILL BE SAFE"

Which makes you wonder why the BITCOIN WHORES if they love this so much, why do they want your GOLD?  If your NOT a moron you know the answer.

THE MAFIA is running BTC, that is obvious, and they will fuck the MORONS.

The MORONS will never admit they were fucked, ... this is the ultimate  crime.

If you were an IDIOT you could almost respect BTC, but if you know yoru history you would know that chain-letters, and pyramid scams show up every other generation or so, ... just normal shit.

A MORON and his money (GOLD) always depart.

 

 

Tue, 01/14/2014 - 03:11 | Link to Comment kodachrome
kodachrome's picture

I'll answer your first question simply by stating the following.

The bernank has a bitcoin bounty on his head that he no doubt is aware of.

 

Mon, 01/13/2014 - 10:51 | Link to Comment balanced
balanced's picture

@free_lunch You obviously know nothing about Bitcoin. I don't even know where to start, as there are so many erroneous assumptions and misunderstandings present in your comment. You cannot "purge" an address or group of addresses from the system. Nor can you raise the max number of Bitcoins. It's essentially a fractal system. You Bitcoin-haters are just as ignorant as the gold-haters - you know nothing about the issue at hand, and choose to reject the thing instead of educating yourself - wow.

Tue, 01/14/2014 - 04:58 | Link to Comment free_lunch
free_lunch's picture

 

“By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest.”
? Confucius

Mon, 01/13/2014 - 17:05 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

0% true.
The source code can be changed & adopted. if for some reason the smallest division was still not small enough more divisions could be made or the total could be increased for whole btc.
Facts are facts. You can deny the probability but not the POTENTIAL as it is there in the source.

There's nothing fractal about bitcoin. You clearly don't understand the words you use.

Mon, 01/13/2014 - 11:22 | Link to Comment fijisailor
fijisailor's picture

OK.  So what about an unlimited number of other competing crypto currencies?  It must be regulated to prevent that right?  I clearly see central planner control in the crypto currency world.

Mon, 01/13/2014 - 12:13 | Link to Comment JustUsChickensHere
JustUsChickensHere's picture

You can have as many alt-coin crypto currencies as you like... but they also need a huge real-world set of miners (hardware) for them to be secure. At present only Bitcoin has a huge network. NameCoin co-mines using the same hardware, but for a non-currency function. The next nearest network (and large enough to be secure) is Litecoin.

All the rest are wanna-be's ..... with little or no hope of gaining critical mass.  So there are real world barriers to entry to prevent a proliferation of currencies. But the availability of options and competition is a fundamentally good thing.  The alt-coins are test beds for ideas and functionality that can be grafted into Bitcoin if (and only if) the majority of the Bitcoin miners agree it is essential.

So the limitation of uptake of the alt-coins means that the 21 Million BTC limit is an effective limit. And a more effective limit than on national fiat currencies.

 

Tue, 01/14/2014 - 07:12 | Link to Comment ILikeBoats
ILikeBoats's picture

My view is that Dogecoin will be the third , given its rapid expansion, high number of coins (100Billion) and its use as a "tipping" currency with an emphasis on being fun and friendly (a silly dog photo is the mascot).

Mon, 01/13/2014 - 17:06 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

OR, silly fool, you can have algorithms that are more secure, less intensive & require NO mining at all.

Mon, 01/13/2014 - 12:42 | Link to Comment OutLookingIn
OutLookingIn's picture

BTC is as phoney as a 3D printed steak.

Starving? Here, let me print you a polymer steak.

Looks like a steak, even has the 'feel' of a steak. Just don't try and fry it!

BTC looks like currency, acts like currency. But will it preserve your wealth in the long run?  

Mon, 01/13/2014 - 14:38 | Link to Comment aminorex
aminorex's picture

Actually, printed meat is very likely to be normal in less than 10 years.  You can already buy a hamburger made from vat-grown cloned beef muscle tissue.  Just marketing it to anti-cruelty vegans in New York alone would justify the development cost.

Mon, 01/13/2014 - 11:29 | Link to Comment mijev
mijev's picture

There can be an infinite number of alt currencies. Only the best will survive. That is the nature of a free market. 

Mon, 01/13/2014 - 11:41 | Link to Comment fijisailor
fijisailor's picture

You mean like windows operating systems where we have a new "best" one every couple of years?  Also, rehypothecation is a bitch.

Mon, 01/13/2014 - 12:28 | Link to Comment mijev
mijev's picture

More like the numerous variants of linux. Ubuntu is probably the dominant flavor but each of them serves a niche market. Quite a few of the alt crypto currenices/networks are complementary to bitcoins (colored coins and OT for instance). But most of them are just wanna be attempts at making a fast buck and will die off. 

Mon, 01/13/2014 - 14:23 | Link to Comment fijisailor
fijisailor's picture

You have no evidence (history) to support the claim that alt crypto coins will die off.

Mon, 01/13/2014 - 18:30 | Link to Comment Mercuryquicksilver
Mercuryquicksilver's picture

Number of active Cryptocurrency since 2009:

36

Number of transitional metals (including PMs) since Big Bang:

16

 

I'd prefer to argue which mix of metals to use as money (copper, nickel, silver or gold etc) rather than which electronic currency (bitcoin & every johnny come lately).

Heck, look at the historic debates over Gold vs Silver vs Bimetallic. Can you even imagin 36+ unlimitted crypto currencies sharring the podium?

Also, "if" BTC ever became effective then the US would regulate it away like eGold and GoldMoney P2P transfers. The biggest currency monopoly in history is the Fed and they ain't going to roll over for BTC ..... unless they OWN it.

Gold was created by a Supernova, Bitcoin by an unknown group of algorithm coders.

Mon, 01/13/2014 - 10:42 | Link to Comment Sonic the porcupine
Sonic the porcupine's picture

I agree with your premise and conclusion and I trust Gold 1.0 more than BTC. As a disclosure I own around 1 BTC, but only as a hobby/gamble/speculation. I used to own some gold, but lost it all in a freak whitewater-rafting-in-a-wooden-dingy accident.

However, I disagree with a couple of your points on BTC.

1) "Why is the inventor not standing proud to receive all the glory? Can a coder write virtually flawless and supposably unbreakable code in first attempt, when all the mayor software giants cannot?"

First we don't know that Satoshi Nakamoto is one person (I also agree we don't know if BTC was created by a government agency). But we do know that BTC was not "virtually flawless and supposedly unbreakable code". From wiki-knowledge: "On 6 August 2010, a major vulnerability in the Bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or "block chain" which let users bypass Bitcoin's economic restrictions and create an indefinite number of bitcoins.[14][15] On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network." Doesn't sound flawless.

Plus, lets say that the creator of bitcoin was one person, if it were me, I'd be worried about the powers that be coming after me. The US brings the hammer down pretty hard on people and countries who threaten the dollar.

2) "Being able to devalue the BTC by constantly raising the 21 million limit. (FED style)"

This isn't possible. From what I've read, the 21 million limit for BTC can't be raised. However, nothing stops 21 million competing BTC alternatives from being created, each being functionaly as good as BTC, and in fact several already have, such as litecoin, namecoin, etc.

Mon, 01/13/2014 - 10:46 | Link to Comment mijev
mijev's picture

Take 30 minutes and watch. He's a very good presenter. 

 

http://www.youtube.com/playlist?list=PLbSdnuFOLV4nMiQG9gvPBX_VQUf6E4COM

 

Mon, 01/13/2014 - 23:30 | Link to Comment therover
therover's picture

Thanks for the link. Super presentation. Puts things in a totally different perspective. Very long range thinking. I kinda like how he states it's a disruptive technology, and continues to drive home the message it is a TECHNOLOGY.

My favorite statement of the presentation...'We can replace the Fed with 100 lines of Python code'

Mon, 01/13/2014 - 23:37 | Link to Comment Mercuryquicksilver
Mercuryquicksilver's picture

Haha, my 10 year old is learning Python. I will soon be master of the universe.

Mon, 01/13/2014 - 10:41 | Link to Comment mijev
mijev's picture

Why is it so pumped by the mass media, Wall street and even BERNANKE stating: 'Bitcoin May Hold Long-Term Promise'?

--- because it's interesting. Much more so than anything else right now. Bernanke is scared shitless. Notice how. The next day Greenspan and then the Chinese premier both came out and slammed bitcoins.

 

- Why is the inventor not standing proud to receive all the glory? 

-- he doesn't want to become the next Kim dot com or the guy who invented Napster.

 

Can a coder write virtually flawless and supposably unbreakable code in first attempt, when all the mayor software giants cannot? 

-- the guy who wrote Sun's operating system did it iover a weekend.

 

- Why trust a currency which depends on the internet and digital devices that are easily controlled by some well known organisations and even unknown ones?

--mathematics. Pure and in this case not at all simple.

 

- If nearly all devices have a secret backdoor coded, could BTC have one also?

-- possibly. Maybe in the encryption code

 

- What about the poor without computers.electricity or internet?

-- they'll be the biggest beneficiaries. The future of bitcoins lies in cheap phones. They don't care who's monitoring them.

 

- If BTC were to be used by the world, what powers would that give to anyone who could take control over it?

 

100% detailed tracking of EVERY transaction by anyone, anywhere in the world.

-- same as now.

Being able to devalue the BTC by constantly raising the 21 million limit. (FED style)

-- not possible.

100% information over every world citizen: wich books read, wich food eaten, wich bars visited, which property owned, ect..

-- same as now.

Ability to instant financial starvation of any organisation, person or even country that they don't like by purging them from the 100% controlled system

-- how can it be centrally controlled? Every pc would have to agree.

Tue, 01/14/2014 - 03:52 | Link to Comment satoshi101
satoshi101's picture

mathematics. Pure and in this case not at all simple.

***

This is a recurring theme from the FRAUD bitcoin.it that pimps the talking points to the MAN WHORES who sell BTC.

There is no fucking MATH in BTC, a software hack,

All the encryption algorithms come out of NSA, and sure they're based on discrete math, so fucking what, its just fuckng algebra, and all encryption is simply based on multiplying big numbers, ... computer can't factor big numbers,

The 'coin' in BTC, the block-chain is just a data-structure, again a stupid fucking hack.

ANYBODY that tells you that BTC is backed by MATH, is a fucking idiot.

BTC was created by software, and that software is a fucking HACK, and the block-chain 'coin' has already broken many times.

WHen Satoshi(me) invented this bitch long ago, it was never envisioned the block-chain being over 2GB, now its almost 20gb, and soon to be 100 GB, meaning it coudld take days or weeks to download, and you don't have the most recent block-chain you can't play.

Maybe there will be BTC 2.0, where you will only have to have 'branch' the block-chain, who fucking knows or cares.

BTC is ugly fucking software HACK, and NO pure or complicated MATH is/was used.

Anybody that tells you that BTC is backed by MATH, just correct them and say, no its back by arithmetic, specificically BTC is BACKED BY MULTIPLICATION, wow so fucking what.

 

 

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