Our server costs ~$56 per month to run. Please consider donating or becoming a Patron to help keep the site running. Help us gain new members by following us on Twitter and liking our page on Facebook!
Current time: July 24, 2021, 4:31 am

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Bit coin
#51
RE: Bit coin
(May 26, 2021 at 7:41 pm)░I░G░N░O░R░A░M░U░S ░ Wrote: BTC will die. A graceful death. It's is the first steam powered vehicle which replaced the horse drawn carriage.
It will go down in history as a pioneer.

But bitcoin itself, (neither a coin nor made of gold) is worthless as medium of exchange.. What does have real value is the block chain it sits on.
Block chain is the future as it has utility for many things.

Like all ponzi schemes, you never know it's a ponzi until you've lost it all and look back in hindsight.
But just like the casino, you won't stop people gambling on it.

I damn sure hope so... But i think it would be a sad prolonged painful death.
People would start buying each time there's someone said "Hey, i got 10 grand profit in just a few months"


Graphic card prices go nuts because of those called "miners"
First BitCoin, then i heard about Ethereum..
And what the heck is a Doge Coin???
Reply
#52
RE: Bit coin
The reason bitcoin has no value in itself is because of its man made rarity.
The problem with that is that people are jumping on the bandwagon and creating new competing cryptos almost daily, all with their own "rarity" lol
Most have gone to the wayside, as they all will. (apart from the govt approved cbdc)
Gold, on the other hand will save you from real negative yielding interest rates (relative to the 10 year treasury).
This metric correlates with 97% accuracy. This is why the big players are slowly shifting to gold.
Why invest billions of dollars of your customers money (superfunds, hedgefunds, insurance funds, etc) into bonds when your dollar is devaluing quicker than the interest you are getting from the bond?. And if customers lose money, they find somewhere else to put it.
If you've got diamond hands, gold and silver is where you want it. Don't touch it for 3-5 years. For this reason, gold went up 25x in the 70's and 8x in the 80's.
History doesn't lie. Look at long term historical charts. Just don't try to make a quick buck. You may get screwed.
Factoid: silver is the most undervalued commodity on earth. It was double the price 40 years ago! With all the govt green schemes now, and solar panel demand and electric vehicles growing exponentially, etc, yeah, it's time to shine has come in the next few years. (not financial advice -just 2c from an ignoramus)
No God, No fear.
Know God, Know fear.
Reply
#53
RE: Bit coin
I love how so many speak about the value of "today's money"; despite the fact it has no real commodity to back it up xD the money of today is valued by Oil xD. It's worthless, it's toilet paper TBH.

A new currency MUST BE INTRODUCED to replace the Dollar, Bitcoin is your replacement.

BTW the Dollar you hold in your hands is FIAT MONEY (google it) xD it has no value, no gold to back it up, nothing.
Reply
#54
RE: Bit coin
(May 27, 2021 at 6:25 am)WinterHold Wrote: I love how so many speak about the value of "today's money"; despite the fact it has no real commodity to back it up xD the money of today is valued by Oil xD. It's worthless, it's toilet paper TBH.

A new currency MUST BE INTRODUCED to replace the Dollar, Bitcoin is your replacement.

BTW the Dollar you hold in your hands is FIAT MONEY (google it) xD it has no value, no gold to back it up, nothing.

There’s nothing intrinsically wrong with fiat money (although the US dollar is technically ‘fiduciary money’), as long as the issuing authority continues to guarantee its value. There’s not a lot of difference - in economic terms - between a commodity-backed currency and a government-backed one. Money has the value people think it has.

And before people start pointing out hyperinflation, that only occurs in conjunction with other economic woes, or when a government no longer backs the currency.

Boru
Ignorance is never valid grounds for the rejection of established facts.
Reply
#55
RE: Bit coin
I recently noticed Bit-coin being sold via those supermarket machines in which you can cash in piles of loose change.
"The world is my country; all of humanity are my brethren; and to do good deeds is my religion." (Thomas Paine)
Reply
#56
RE: Bit coin
(May 27, 2021 at 6:48 am)BrianSoddingBoru4 Wrote:
(May 27, 2021 at 6:25 am)WinterHold Wrote: I love how so many speak about the value of "today's money"; despite the fact it has no real commodity to back it up xD the money of today is valued by Oil xD. It's worthless, it's toilet paper TBH.

A new currency MUST BE INTRODUCED to replace the Dollar, Bitcoin is your replacement.

BTW the Dollar you hold in your hands is FIAT MONEY (google it) xD it has no value, no gold to back it up, nothing.

There’s nothing intrinsically wrong with fiat money (although the US dollar is technically ‘fiduciary money’), as long as the issuing authority continues to guarantee its value. There’s not a lot of difference - in economic terms - between a commodity-backed currency and a government-backed one. Money has the value people think it has.

And before people start pointing out hyperinflation, that only occurs in conjunction with other economic woes, or when a government no longer backs the currency.

Boru

Actually there is something wrong with the U.S Dollar: "its value is estimated and kept trustworthy as long as America itself is the top Super Power in our world".

That what made the Trump reign so scary: America was proven to be "fragile" and a subject to division between the Oligarch camp VS the Military Industrial camp.

A fragile place like that cannot sustain a global currency.

Probably that's why "Biden" and the Military Industrial camp will try their best to make a technological revolution and takeover the Bitcoin.

Trump's camp will also invest in Bitcoin, I think they already began to do so with Russian Bitcoin miners are so many.

The Oligarch camp must be stopped.
Reply
#57
RE: Bit coin
(May 27, 2021 at 5:44 pm)WinterHold Wrote:
(May 27, 2021 at 6:48 am)BrianSoddingBoru4 Wrote: There’s nothing intrinsically wrong with fiat money (although the US dollar is technically ‘fiduciary money’), as long as the issuing authority continues to guarantee its value. There’s not a lot of difference - in economic terms - between a commodity-backed currency and a government-backed one. Money has the value people think it has.

And before people start pointing out hyperinflation, that only occurs in conjunction with other economic woes, or when a government no longer backs the currency.

Boru

Actually there is something wrong with the U.S Dollar: "its value is estimated and kept trustworthy as long as America itself is the top Super Power in our world".

That what made the Trump reign so scary: America was proven to be "fragile" and a subject to division between the Oligarch camp VS the Military Industrial camp.

A fragile place like that cannot sustain a global currency.

Probably that's why "Biden" and the Military Industrial camp will try their best to make a technological revolution and takeover the Bitcoin.

Trump's camp will also invest in Bitcoin, I think they already began to do so with Russian Bitcoin miners are so many.

The Oligarch camp must be stopped.

Funny...the US have been a global power for more than 70 years and have had fiat currency since 1971. They seem to be holding up pretty well.

In five years’ time, a mention of bitcoin will elicit either an indulgent chuckle or a perplexed stare.

Boru
Ignorance is never valid grounds for the rejection of established facts.
Reply



Possibly Related Threads...
Thread Author Replies Views Last Post
  Can an 32-bit OS run on multiple 64-bit CPU cores? FlatAssembler 19 924 March 5, 2020 at 1:28 pm
Last Post: FlatAssembler



Users browsing this thread: 1 Guest(s)