Mike Maloney spoke on Sunday and Monday at the Vancouver Resource Investment Conference. After his keynote address, he was interviewed by Vanessa Collette of Cambridge House, and asked to give his thoughts on Bitcoin.
Watch the full interview here: http://www.hiddensecretsofmoney.com.
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You've started to grow quite a following in the Bitcoin community @Mike Maloney. Your videos are shared on the Bitcoin forum on Reddit quite often.
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Maloney is a simpleton in some ways. He blindly assumes it's some free market activists that are back of bitcoin. How do we know that? It could be something from the Mont Pelerin Society of elite economists who devised a leg hold trap for bankers to deploy. Not that Mike ever heard of Pelerin. More likely bitcoin is a ploy to draw people away from holding gold and silver. Salinas Price, a great monetary thinker, scoffs at bitcoin. Additionally, if there's a grid wrecking solar event, how will bitcoin holders use these intangible, will 'o the wisp nothings? Sure, someone has been enriched by bitcoin. Can most of you truthfully say that you have? It still gets down to wealth must be in physical form, of material elemental substance—palpable, that which can be held in hands, and have essential worth not reliant on anyone's hollow surety.
bitoin is another ponzi, u get new bitcoins if u mine better if you get computer space for all the new idiots coming in, what gives bitoin value is the number of assholes using it, demand 5thats why they try to put idiots paying for new computers and mining it
digital money/ Whats gonna happen If internet runs out???
I'm a big fan of gold and silver and I own quite a bit (although I won't say how much) but I've made more in bitcoins than I've ever made with precious metals, and I've only been buying bitcoins since last November. I bought every month as the price slowly dropped (I'm accustomed to buying a declining asset due to my experience with precious metals, so it didn't worry me). Then when bit coins it dropped below 505 I backed up the truck and loaded up every bitcoin I could afford. So overall I'm a bit ahead on the deal (although the price is back in a short term dip again so my total may drop below my cost again, but again I've been in that situation with precious metals for years so it doesn't phase me too bad).
I value the stability of precious metals, and how they have value even if the economy crashes. They're an asset as well as an insurance policy against a total economic melt down. Bitcoins however are an asset that's growing dramatically and ramping up in both merchant acceptance as well as acceptance in the general population. The price has increased 44 times since early 2013. The way the trend is going, I might be able to retire in 18 months. After the next big price hike I plan to re balance some of my bitcoins back into precious metals, so as to decrease volatility. When that time comes I'll use my bitcoins to buy precious metals directly and if Mike doesn't accept them by then I'll go with Peter Schiff since he already accepts bitcoin on his web site.
Instead of being angry at the new crypto currency trend, a wise precious metals owner will put some of his extra cash into bitcoin and enjoy the appreciation, then as his bitcoin holdings dramatically overshadow his precious metals holdings, he will shift some of that money over to precious metals and decrease his exposure to the volatility of these currencies. Don't ever put all your eggs in one basket, whether it's bitcoins or precious metals.
Bitcoin is NOT wonderful!!! It is harmful global ponzi scheme!!!
http://www.businessinsider.com/warren-buffett-bitcoin-is-a-mirage-2014-3
http://www.garynorth.com/public/11828.cfm Bitcoins: The Second Biggest Ponzi Scheme in History
http://www.garynorth.com/public/11844.cfm Bitcoins: The Road to Investment Hell Is Paved With Good Intentions.
http://www.garynorth.com/public/11843.cfm Digital Tulips: The Bitcoin Mania
http://en.ria.ru/russia/20140224/187851223/Russian-Central-Bank-Says-Bitcoin-Lacks-Real-Value.html
Bitcoin my Bollocks … Fuckin MtGox stole all my cash … Fuck that
Lets get realistic & make a goosecoin! How about a falloutcoin, nwocoin, unicoin…. Lets trade in cabbages instead, money you can fart with!
Can anyone explain why the real estate / gold ration is at 30 yr lows? Its very vexing to me. Shouldnt i be selling my gold and buying real estate right now?
Here's a basic rundown of 22 reasons bitcoin has intrinsic qualities that surprised a lot of silver and gold bugs. I'm still a silver bug.. It's great for a backup money solution. But I discovered bitcoin in a BIG way over a year ago and became somewhat of an expert at it. I wrote this piece of "Bitcoin Magazine. I hope it helps you start seeing past the currency part (which is just the first application of the technology) – remember that "bubble vision" tv heads only see the surface and don't look at intrinsic qualities. This article will allow you to see past the surface to some of the things that REALLY matter underneath. Read this an you will know more than 99% of the world". People keep saying they wont invest in something they don't understand. Good advice.. Even better – learn to understand. We are VERY early in this technology. It's not too late… http://bitcoinmagazine.com/12846/you-say-bitcoin-has-no-intrinsic-value-twenty-two-reasons-to-think-again/
More thoughts on Bitcoin: Is Bitcoin an NSA Setup? Mike Maloney
One gets the feeling that an artificial currency will not work if it is not backed with measurement of the value of labor (i.e piecing it all together by physical mining of resources from the earth, waste management, or trading of skills, talents, knowledge, distribution and construction). You know what might be more interesting is renewable energy and new farming technology like aquaponics. If you have an aquaponic system that's already been paid for you can make free food for yourself.
Il bitcoin è una moneta che ha come base il calcolo di ricerca matematica anziché l'oro. https://cex.io/r/0/luis49/0/
NICE !!!!
After the reset, the new global economic system should be based on a gold and/or silver backed currency that is administered via crypto currency. You get the best of both worlds, sound money without central bankers or any group or individual with absolute control. Bitcoin has been a good trial run to test out the technology, but its not a solution in its current form.
I still like playing Bitcoin more than say the stock markets.. but I got a lot of my savings in the metals too. A lot of people really don't understand it, but at the same time a lot of the Bitcoin kids don't think the metals are as good either. I think they're both good.. but in the long run the metals still win.
I want Honest weight and measures…I don't trust anyone…So I want Gold and Silver coins used in trade/purchasing and in payment for services…So all Y'all cant change anything because we are going back to honest money sooner or later Gold and Silver will rein for another 4000 years…So prepare because there aint enough for everyone…Several idiot Gold and Silver companies accepting that Worthless Bitcoin Crap…So take advantage and change those Bitcoins because they will and can disappear at anytime back to there intrinsic value of ZERO YOU DUMBasses…Many will go Kicking and Screaming but it cant be stopped Gold and Silver are the ONLY real MONEY…
Who has the power, wealth and security to set up a colored coin system on the bitcoin network with audited physical precious metal backing? That could be a future we could all support.
WHY THE HATE?
The hate is because this is so new and so revolutionary that it forces people to read and think (something a lot in our population struggle with) to understand it. So naturally people when confronted with change would rather dismiss it without knowing/understanding, just because it's the easy thing to do. Soon enough though it will be to the point where you don't need to understand it or comprehend how it does what it does to use it and benefit from it.
Just like electricity, combustion engines and the internet, nobody really understands (or could explain) the dynamic and mechanisms going on when you flip a light switch start your engine or turn your computer on. Just like these things, soon enough, bitcoin will be easy to use for the the average Joe and main stream.
And when that happens the early adopters of this technology, the ones with the open minds and curious nature to not disregard without learning, will reap the benefits, money, and glory. As has already been the case for anyone involved/invested in bitcoin since early 2013. Same as it was for the early adopters in electricity engines, and the internet.
The question is… are you the herd?
Learn here dailycoinreport.com
Cheers!
They Can Shut This iNet Crap Off Anytime They Want…Y2K scared the Shit out of me in 2000 and I changed all my paper/electronic dollars to Gold and Silver coins I sleep very well Now…Hurricane Sandy shows that all electronic crap is worthless…You want paper/electronic Crap keep it…. I'm still to this day changing all paper/electronic Crap dollars to real money Gold and Silver coins…
If anyone has read James Rickards books, we know that the US is trying to import inflation through the exchange rate mechanism. For example, China is pegged to the dollar. As the FED prints money their currency appreciates and the inflation can be seen through higher import prices. The Chinese have however fired up their printing presses even more than the FED. Therefore we do not see the inflation we should be seeing. If you look at the Yuan recently though, it has changed directions. Could this be a sign of incoming inflation?? Perhaps.
Trust Me Your Criminal Leaders Will Do Anything to Get YOU away from being Free…All of You Don't Understand There Is a Reason Gold and Silver have been Money for over 4000 years…And all of You who choose this electronic Crap deserve what You get…There is a reason China/Russia/India have daily/weekly/monthly Gold and Silver shipments…You think they don't know the NSA/UnderGround Government Bitcoin scam…You Fools Bitcoin can and will be wiped out at anytime…Your Only protection from Your Criminal Government is Gold and Silver coins….
Well said
Nice little ramble off subject there Mike. ;)
A joke. Easy for you to say.
Nice Mike! I fully agree with you word for word! I wonder how our forefathers sold such radical ideas when everyone else didn't get it.
I hate bitcoin !
Great video, sad that a lot of your viewers lack technical background so they obviously don't know. Hence they rejecting it in the first place.
Am I the only one that finds it ironic that Money can be found in his last name?
Best answer yet.
Thanks Mike. You are one of the very few I trust.
bitcoin is a scam. The truth will come out eventually
I disagree with that bit at the end about rewarding consumption and being freeloaders. The Government rewards it's bosses … The Lobbyists.
If you want to boss the Government around, I recommend becoming a lobbyist.
Let's not confuse those with little recourse and no power with those who are holding all the cards. I do not subscribe to this fiscal idea of blaming the victims of lobbyists decisions. I don't even blame the Government. I blame the lobbyists themselves.
In ANY business, if you want to make changes, don't blame management (govt) and don't blame the customers (citizens). Blame the owner! Maloney wants to avoid blaming the R&D department (innovators). Well, they aren't the boss either.
Bitcoin is Government Made…
Just to name a few guru's trying to promote this bitcoin crap: Mike Maloney, Max Keiser, Peter Schiff, Karen Hudes, James Turk, Adam Kokesh, David Morgan, Stefan Molyneux, Glen Beck. etc. Peter Schiff said he would take bitcoin for his gold. Hahahahahaha It's called the bitcoin scam. BEWARE!!!
Bitcoins is no better than any other form of commodity money yet it lacks intrinsic value which makes this a terrible instrument to hold your money in for a store of value. Maybe its good for small transactions, but will never be a good way to save money in for your retirement. We have land, real estate, and gold and silver for that.
Near instantaneous transactions longer than the length of ones arm with no bank involved – Bitcoin
are you under a cyber attack maloney??? all your websites are down
Well put Mr. Maloney! Shalom.
Nice!