That's why it will never be used like money. No one wants their money changing in value that much because it being manipulated. If you can't see the manipulation and pyramid scheme aspect of this than I recommend you try some more autism medicine.Originally Posted by dannno
Nobody wants their money to increase in value? That doesn't make any sense..
You need to take an economics lesson. The dollar changes value every day. If you buy dollars with other currencies, or you look at the cost of goods that you buy and see how they are increasing, you can see it. Over time, the value of the dollar falls.. because it is being manipulated. Bitcoin is not manipulated, it is subject to market forces and it is tied to a set of open source code that anybody can read. The dollar is manipulated - it is subject to market forces, but the government manipulates the value by printing more at their whim.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
I get my economics from Ron Paul, when banks start buying up bit coins instead of gold I'll believe ya there, but you can't promise it will increase in value because its based on demand. This happened before and when governments cracked down on it the bitcoins crashed and people lost their life savings. I don't know anyone who has ever had that happen with Gold, when has gold crashed?
Why would ANYBODY invest their life savings in bitcoin?? That is dumb. What would be even more dumb would have been to sell the bitcoin one bought with their life savings when it "crashed". I would never advise either of those things, neither does anybody who promotes bitcoin in any serious way.
It's hard to say that bitcoin has ever really "crashed", though. Historically, it goes up and up, then goes up really high for a very short time and then comes down. But it always levels out at a level that is significantly higher than it was before it started going up. For me, it seems like a crash is more descriptive of something that goes up really high in value, then crashes back down somewhat near the value it started before going up significantly.
I do recommend buying bitcoin to use and for speculative purposes, but I also recommend buying gold and silver. In fact, I would recommend having the bulk of your savings in gold and silver - with the exception of having a large holding of bitcoin that came from speculative buying when the value was much lower. I've put more $$ into gold and silver than I have bitcoin, but I have much bigger holding of bitcoin at the moment because that value increased so much. But I always take some of those profits and put it back into gold and silver. Eventually when it goes up again significantly, I will buy more gold and silver with my bitcoin.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Lots of people were getting sold on buying up bitcoins, I saw it all over reddit during the crash a few years ago when it went down like 10 grand. There were people buying it when it was up because they thought it would keep going up like it did. It was the main reason why it went up so much, because so many people were duped into buying high by all of these people HOLDRING
There is nothing wrong with buying bitcoin at any price it has been, because eventually it will go much higher. There are certainly better times to buy than others.
The point is nobody should have put their life savings into bitcoin. I always recommend putting in smaller buys over time. I remember somebody on RPF asked me a long time ago if they should buy bitcoin when it was $650. I said go for it, buy a small amount. It might keep going down, I have no idea. But as it dips, keep buying more and then when it goes up you will have a lot.
They didn't listen to me. I think they bought some and then it went down and they sold it when it was low, and didn't buy it back when it went lower.
In the meantime, I was making very small buys at $650 since I already had some, then when it went down to the $250-$350 range, I started making bigger purchases. That strategy paid off very well.
The only people who have lost money in bitcoin have foolishly sold it when it was low, then didn't buy any back when it went lower.
Last edited by dannno; 06-01-2019 at 01:04 PM.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Sounds like a pyramid scheme to me, some people make a lot of money but its always money coming from new people buying into the bitcoin. I am glad you didn't lose out on it or anything I just don't recommend it unless you are trying to buy something off the dark web or launder money.
If the value keeps going up, nobody loses their money. The people who lose their money are the ones holding government fiat. Government fiat is what is screwing everybody. The people who make money on bitcoin are early adopters.. they are the heroes who are helping to save humanity from the fiat monopolies. They are building up the network, helping the tech get better. They deserve to get rich.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
You sound desperate.
Forever?
Never attempt to teach a pig to sing; it wastes your time and annoys the pig.
Robert Heinlein
Give a man an inch and right away he thinks he's a ruler
Groucho Marx
I love mankind…it’s people I can’t stand.
Linus, from the Peanuts comic
You cannot have liberty without morality and morality without faith
Alexis de Torqueville
Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it
A Zero Hedge comment
No, but probably for the next couple decades... if not bitcoin, some type of crypto or another or many. That is the future of money. Decentralization. Gold and silver is the future of money, too.
Last edited by dannno; 06-01-2019 at 06:03 PM.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
The people who invent and help aid in the development of future technologies that are life saving to humanity should get rich off of it. People like you certainly don't deserve to get rich off of it. If bitcoin helps save humanity, it will be despite all of your negative nay-saying.You sound desperate.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Have you considered the possibility of bitcoin destroying the humanity?
How do you figure?Have you considered the possibility of bitcoin destroying the humanity?
Does abolishing slavery destroy humanity?
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Have you heard of the Mark of the Beast?
Never attempt to teach a pig to sing; it wastes your time and annoys the pig.
Robert Heinlein
Give a man an inch and right away he thinks he's a ruler
Groucho Marx
I love mankind…it’s people I can’t stand.
Linus, from the Peanuts comic
You cannot have liberty without morality and morality without faith
Alexis de Torqueville
Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it
A Zero Hedge comment
or ..... electricity?
If you can't touch it you don't own it.or ..... electricity?
Never attempt to teach a pig to sing; it wastes your time and annoys the pig.
Robert Heinlein
Give a man an inch and right away he thinks he's a ruler
Groucho Marx
I love mankind…it’s people I can’t stand.
Linus, from the Peanuts comic
You cannot have liberty without morality and morality without faith
Alexis de Torqueville
Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it
A Zero Hedge comment
War reparations in BTC. Progress!
If that is considered "electrically backed" then the dollar is gold backed.
That wasn't my definition of electricity backed, I was answering a question.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Crypto doesn't require the mark of the beast, that is something man will have to implement.. and it doesn't require cyrpto to implement. Haven't you seen idiocracy?
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Physical gold is fine, but even a gold backed currency is only as good as the institution that is backing the currency. If they don't hold enough gold, or if the gold is stolen, then the currency becomes worthless.
Crypto is an algorithm. It is predictable and acts the way in which it is programmed to act. I have crypto device sitting right here. You could steal it and you still wouldn't own it, and I still would own the cyrpto. You would just have a device that holds the crypto. You can't say that about gold. If somebody came into my house while I was away, or with high amounts of fire power they could steal my gold - but they won't get my crypto, I will still own that.
There are pro's and cons to both.
Last edited by dannno; 06-02-2019 at 11:01 AM.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Crypto moves us towards a cashless society, that is a major step to the Mark of the Beast, it will only require a government hijack to get us there.
Never attempt to teach a pig to sing; it wastes your time and annoys the pig.
Robert Heinlein
Give a man an inch and right away he thinks he's a ruler
Groucho Marx
I love mankind…it’s people I can’t stand.
Linus, from the Peanuts comic
You cannot have liberty without morality and morality without faith
Alexis de Torqueville
Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it
A Zero Hedge comment
But it also protects us, there are countless cyrpto currencies you can use that they won't be able to stop you from using after fiat cash becomes illegal.
Worst case scenario is the govt develops cyrpto on their own and implements it without any competition.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
I believe the 'term' is 'worse case scenario' , but either way you have no idea or concept of 'worse case scenario' .
Not only is it a 'trendy' Segway to cashless, as I have told you many times, it is also fiat, not that it can't
become backed by something at some point , it is what it is .
And as I have said countless times ; it is hackable, and in fact has been and will continue to be hacked.
It is also likely to already be a CIA op, period, if not from conception , there will no doubt be govt access
, back doors , and eventual regulation and control.
Go see Catherine Fitts if you still doubt what I'm trying to get you to 'get' .
I never touched a crypto and I'm all for avoiding banking institutions.
That said, Bitcoin being the cheaper value transfer option is not true.
Or rather, it's true only under particular circumstances, namely
a) the sender has already Btc
b) the recipient is happy to receive Btc
In case of $ --> Btc --> $, which is by far the most common case as in our society the acceptance of Btc as a currency is near to zero, even PayPal is a cheaper way to transfer value than Btc.
I don't know what you mean by better, but for sure you didn't mean faster.
I think blockchain will offer payment network options which will be cheaper and faster than the current one, but that won't be Bitcoin.
Bitcoin opened the door, so to speak, that's its undeniable merit, but its not the best blockchain based currency forever
I'm not saying it's always the best payment system to use from a practical standpoint right now, I'm saying it is the best payment system platform we have available to us right now. Because it is not being utilized very heavily, that makes it less practical. But it also makes the cost of a bitcoin extremely cheap and if we were to begin to see more widspread adoption, that cost will rise dramatically.
You are also right that bitcoin might not be "the one". It could be "one of many", or it could be outpaced by others. Right now, it is "the one". Last I checked, it was hovering around 50% of the total marketcap of all cryptos. And it is dynamic. There are teams of geniuses working not just on the bitcoin project itself, but working on related software, services, hardware and institutions that are integrated with crypto, primarily bitcoin. If you had to put money on one, you would probably want to pick bitcoin. However I advocate for and own alt currencies as well. Most of them I bought with bitcoin profits because they are highly speculative, but I have gotten a few that have taken off (and cooled back down, but still much higher than where they started).
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
No. I would want to pick a serious gold-backed stablecoin project
Among institutionals (enterprises, fonds, banks, multinationals, governments, sovereign fonds etc.) there is as much as zero interest in Bitcoin, both as a investment and as a means of payment or value transfering.
They are interested in Stablecoins.
Folks living in countries with currencies subject to depreciation.
No interest in Bitcoin.
They want Stablecoins.
Bitcoin right now is the one only in the crypto-sphere, among crypto-enthusiasts.
Probably it will stay that way. A niche role
So I want to cash in my gold, I can get elbow grease?
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