Mirror Trading International

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aofafrica said:
Gold has thousands of years' head start proving that it is not easily substituted.

Fiat has say 200 years of social acceptance (less off the gold standard - for the nitpickers).

Bitcoin has a relative 20 minutes and has ZERO defence against the next good idea. People treating it as an investment instead of a currency is one of it's main weaknesses at present imho.
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Yeah, it's all perceived value based on nothing. When you trade anything other than crypto there's some commodity or asset that is useful to someone that's being traded. Crypto isn't directly useful to anyone other than because some people say it's worth something. It will only hold value for as long as it's popular.
 
D@leW said:
Yeah, it's all perceived value based on nothing. When you trade anything other than crypto there's some commodity or asset that is useful to someone that's being traded. Crypto isn't directly useful to anyone other than because some people say it's worth something. It will only hold value for as long as it's popular.
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Just like the MTI bigwigs - most Crypto whales have taken money out along the way. The fact that they still have big sums invested does not mean they have not hedged their bets.

Diversification is your sole defence.
 
D@leW said:
Yeah, it's all perceived value based on nothing. When you trade anything other than crypto there's some commodity or asset that is useful to someone that's being traded. Crypto isn't directly useful to anyone other than because some people say it's worth something. It will only hold value for as long as it's popular.
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BTC's value is in it's design. It's the fact that it is decentralized and limited, thus not subject to government interference/control and immune from inflation.
 
Anyone have a reliable stat on what percentage of Cryptocurrencies launched ever reached a decent market capitalisation?
 
D@leW said:
Gold has intrinsic value (most modern electronics require it), and it's pretty, so it'll always have value. People could just decide one day that BTC isn't worth the electricity and storage is costs to keep, at which point it becomes worthless. That's unlikely to happen in the next decade or so, but at some point in the future it might not be worth anything, much like how shillings are only worth something to coin collectors.

Edit: Until we invent Star Trek-style replicators, at which point the most important commodity probably becomes energy.
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The gold in electronics isn't really a major driver of the price. It would be similar in cost to copper or aluminium if it were.

Jewellery is probably more of a driver but most of the world's gold is dug out of the ground and refined into bricks and then buried underneath the ground again with guards while the owners trade electronic certificates of ownership on the internet...

Not that this is really relevant anyway because as has been pointed out, gold has thousands of years of inertia of being valuable. The last few years should show that there's no consensus at all of how much Bitcoin is actually worth. And you can't make jewellery or electronics out of it.

In fact if I'm not mistaken, the Bitcoin blockchain energy consumption is comparable to some small countries so one could probably contend that it's an environmental danger and unethical to invest!
 
aofafrica said:
Just like the MTI bigwigs - most Crypto whales have taken money out along the way. The fact that they still have big sums invested does not mean they have not hedged their bets.

Diversification is your sole defence.
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Have you not been paying attention?

If someone tells you to diversify, it's because they want to sabotage you! They don't want you to be wildly successful!

You have to go all in with MTI if you really want to have guaranteed riches! Other assets are for losers!
 
aofafrica said:
Gold has thousands of years' head start proving that it is not easily substituted.

Fiat has say 200 years of social acceptance (less off the gold standard - for the nitpickers).

Bitcoin has a relative 20 minutes and has ZERO defence against the next good idea. People treating it as an investment instead of a currency is one of it's main weaknesses at present imho.
Click to expand...

Well you better tell that to the digital trading era for gold.

It is already well known fact that there is more gold being traded since the digital trading era than ever mined so it defeats the entire purpose of trading physical gold if it is just another manipulated digital number not actually backed by physical gold.

Bitcoins biggest defense that no other cryptocoin would ever be able to match, First Mover Advantage, and after 12 years this is not going to erode unless all coins goes to absolute zero. First Mover Advantage in any market is more powerful than even a better idea that might popup at the same time.
 
soulie said:
Is there actually any physical proof of those 17000+ bitcoins.
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Well: it isnt displayed on snyper's accurate top 50 BTC holders . Huge red Flag .Huge .
Waldman Jordaan said:
Burn those bras ladies and please get a spell checker - no Bitcoin required.
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Absolutely appalling spelling fawr a kumpiny untrusstit wif free billion ront's worth of assit.
adslrouter said:
telegram mti members........................ seems like a new world force has awakened :)

Always easiest to compare it to a commodity like gold which...is a finite resource. What happens when the last gram of gold is mined? The price will increase dramatically as demand will rapidly outstrip supply...but the gold will always be there and in circulation. Just as 21 million Btc will always be circulating. It will just increase dramatically in value due to the above-mentioned vectors of demand and supply. We're in the early adoption stages of this "commodity". Anybody who has currently has 0.2 Btc (and Hodl's it) will in 5 years be among the top 5% wealth bracket in the world. We're uniquely positioned with MTI because they're growing our Btc daily. Using the gold example—its like someone mining a gram of gold for you every day so within a month you'll have 20 grams of gold if you started with 1. Hope that helps

------------------------------------------------

Great to know that only 0.2Btc will take a person that far . We are at the right place at the right time
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BTC has yet to Make a major breakthrough as far as I am concerned, regarding effortless transactions and global acceptance :despite it holding a $9000~$10500 Value in the trading world :for now, i dont see it achieving global dominance/acceptance except for it being a new form of platform on which to buy/sell make a few buxxx .
LJ1234 said:
They REALLY live in a dream world far removed from reality. BTC = gold o_O
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Agreed. that's a beautiful analogy: albeit a farcical one. Gold is gold .Btc may be based on how gold is mined/currency based/etc :as for it being "as good as gold " ? aikonna

This whole MTi rhetoric and kumbayah fantasy script they've written (or had fabricated in india land) is enough to make me vomit a comet.
They walk among us .I just find it painfully hard to swallow , that it is so .
 
John Tempus said:
Well you better tell that to the digital trading era for gold.

It is already well known fact that there is more gold being traded since the digital trading era than ever mined so it defeats the entire purpose of trading physical gold if it is just another manipulated digital number not actually backed by physical gold.

Bitcoins biggest defense that no other cryptocoin would ever be able to match, "First Mover Advantage" and after nearly 12 years this is not going to erode unless all coins goes to absolute zero.
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On altcointrader, if you have enough gold or silver, they will send you the actual coins.
 
RadonZA said:
On altcointrader, if you have enough gold or silver, they will send you the actual coins.
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Sure, this is possible depending on platform and volume but the main problem is that on a global scale the amount of gold being traded is far more in total quantity than there is available gold to match it 1:1.

If you had enough money right now to buy up ALL physical gold and store it in your own vault without offering it as trading collateral for online gold trading, you will still see online gold trading operating against no physical gold at all since you have all the physical gold bought up and stored away.

Regarding altcointrader, that is a pretty bad example. :P , I wouln't trust that place with my crypto nevermind expecting them to ever honor gold bullion. That is one dodgy operation with volume so low I highly doubt they are entirely liquid cause there is little to no chance they are making enough from trading commission to keep that operating going.
 
donjones said:
Very intersting thanks for posting, if you go back to the original report (The 2020 Geography of Cryptocurrency Report) you find this very blunt statement: " Next, we show the top scams receiving funds from Africa. SBlock led the way until October 2019, before MyMTIClub began growing to become the dominant scam in the region. Both SBlock and MyMTIClub defraud victims by claiming they can grow customers’ Bitcoin deposits through algorithmic trading."
No punches pulled there at all - they must have some very solid evidence to back this up...

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Sjoe, thanks for posting the link to the original document. It is a very educational and informative analysis of the whole globe's activities. Someone is definitely doing THEIR homework.
 
newby_investor said:
The gold in electronics isn't really a major driver of the price. It would be similar in cost to copper or aluminium if it were.

Jewellery is probably more of a driver but most of the world's gold is dug out of the ground and refined into bricks and then buried underneath the ground again with guards while the owners trade electronic certificates of ownership on the internet...

Not that this is really relevant anyway because as has been pointed out, gold has thousands of years of inertia of being valuable. The last few years should show that there's no consensus at all of how much Bitcoin is actually worth. And you can't make jewellery or electronics out of it.

In fact if I'm not mistaken, the Bitcoin blockchain energy consumption is comparable to some small countries so one could probably contend that it's an environmental danger and unethical to invest!
Click to expand...
And as bitcoin progresses the income from mining becomes less and less, so it becomes less profitable to mine (although that needs to be balanced against more powerful computers being invented). People say that will push the price up (relative to FIAT), but I don't see why. It'll just push the transaction costs up if there are fewer miners.
 
John Tempus said:
Sure, this is possible depending on platform and volume but the main problem is that on a global scale the amount of gold being traded is far more in total quantity than there is available gold to match it 1:1.

If you had enough money right now to buy up ALL physical gold and store it in your own vault without offering it as trading collateral for online gold trading, you will still see online gold trading operating against no physical gold at all since you have all the physical gold bought up and stored away.

Regarding altcointrader, that is a pretty bad example. :p , I wouln't trust that place with my crypto nevermind expecting them to ever honor gold bullion. That is one dodgy operation with volume so low I highly doubt they are entirely liquid cause there is little to no chance they are making enough from trading commission to keep that operating going.
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That's not too difficult to solve, majority of the traders don't actually want gold but the money (usd) behind it. Gold is just a convenient store of [largely] increasing value that is easy to trade and liquidate for money.
 
newby_investor said:
Have you not been paying attention?

If someone tells you to diversify, it's because they want to sabotage you! They don't want you to be wildly successful!

You have to go all in with MTI if you really want to have guaranteed riches! Other assets are for losers!
Click to expand...
What grates me t*ts , is that most of the "enrollers " (whatever) , have chalked up huge returns on seemingly trivial investments into what they regard as the holy grail of moneyhood. Founders pumped in huge amounts SOlely to milk the system to the max , While also creating multiple accounts to increase the money flow to come in their direction . The enrollers are sitting on minimal personal deposits and earning on P1 and P2 streams and printing money like it's water .Members at it's base appear to be resigning;cashing out insurance policies;bonding stuff :anything to make money seemingly from doing nothing .
Our local ponzi boy kept his lil thing going for 9 years .NINE. Same story : a business plan shaped like a 3 sided square:Keep your money in longer and he'd give you more reward .The idea was concocted up over a game of table tennis with his brother in law(If i recall correctly ), and the eventual cholateral damage did My business enourmous damage. People had bonded homes, given life savings : handed him Pounds earned abroad over a periodof 5 years: only to see it all go up in smoke. Their reward ?:not being remunerated more than 4c to the R1 .Such schemes require large amounts to be distributed as dividends in order to keep the investors amused/hooked . Of the resulting "Vaultage solutions ~breedt" style damage , I reckon he didnt see more than R40M of the R287m that was poured into his forex investment plan over that period. He left people wanting to hang themselves , took money from a paraplegic (ffs) and splashed out on luxurious vehicles. some of them were simply mind-blowing.

So.if y'all are thinkin' this here scam is about to shrivel up and die :i'd think twice. They have investors eating out of their hand. I could , if i wanted to , hurt a lot of ego's and rant again on my Fb page, asI have a lot of followers : the trouble is that i know a number of these money sluts are going to take it personally and bomb my name in town : i'd have to gamble upon verbally slandering the scam 2 weeks before it finally crashed , in order to escape without backlash.
Either way: i think they hate me for being so negative , shame .i just dont get crypto and how the bot works, hence im "stupid " , and by commenting on fb about it and tarnishing their reputation , i am simply being a D**s .

You can't win.
only way this thing is going to come down: is internally, by itself . Founders must either turn on one another, or steal the living kuk out of the pool .
The fact that so many educated stand-up nice people, believe in this like a religion , is mind -boggling .
Gawddd.
 
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Mystic Twilight said:
That's not too difficult to solve, majority of the traders don't actually want gold but the money (usd) behind it. Gold is just a convenient store of [largely] increasing value that is easy to trade and liquidate for money.
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Well this a problem because the idea of trading gold is that you are trading against a finite store of value. If you keep pumping the total gold supply above the available gold supply it will lead to a crash, no different to financial inflation crashes backed by printing more and more $.

This is why gold is so overvalued right now and inflated probably by countries that is hoarding gold ie. Russia and China, it suites them best if gold price is inflated while they are holding on the vast majority of gold stockpiles.
 
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