Bitcoins - about to hit $5,000 per coin today!

[gib]

but you still have to exchange it for cash for it to have any value.

Thats my point...

Not correct. You can exchange it directly for goods or services. It functions as a replacement for cash.

[El Diablo Blanco]

Not correct. You can exchange it directly for goods or services. It functions as a replacement for cash.

Yes, on steroid sites or underground weapons and drug sites, maybe hire a hitman?

[Shizzo]

Yes, on steroid sites or underground weapons and drug sites, maybe hire a hitman?

That would be hilarious. Government agencies create Bitcoin. The Government tracks all Bitcoin transactions. The Government eventually tracks down illegal purchases (cause they created the infrastructure) and seizes all of the Bitcoins/money from those illegal sales. Government makes money.

Morons.

[Simple Simon]

Not correct. You can exchange it directly for goods or services. It functions as a replacement for cash.

no, retail stores want cash or credit transactions in currency, go and try and buy a snickers with bitcoin...

[jr]

 

[Evo]

but you still have to exchange it for cash for it to have any value.

Thats my point...

So without money nothing holds any value?

Everything was worthless until we pinned monetary values to it all?



In your opinion, what is worth investing in? 

How would you hold onto your wealth in a disaster?

[Simple Simon]

So without money nothing holds any value?

Everything was worthless until we pinned monetary values to it all?



In your opinion, what is worth investing in? 

How would you hold onto your wealth in a disaster?

Everything we use in order to retain wealth has to be ultimately exchanged for a monetary figure in currency

I fail to see why you keep missing this obvious point.

try and put a value on something without using a monetary term,

[Marty Champions]

every medium of trrade will be taxed so a retail store cant accept bitcoin without federal tax legally , this is getting paid under the table and wont happen at a store

[El Diablo Blanco]

So without money nothing holds any value?

Everything was worthless until we pinned monetary values to it all?



In your opinion, what is worth investing in? 

How would you hold onto your wealth in a disaster?

Think about this.  A bitcoin is worth $5000 dollars right?  People saying the dollar is dying.  So if the dollar dies then what is a bitcoin worth?  0$?

[Marty Champions]

Think about this.  A bitcoin is worth $5000 dollars right?  People saying the dollar is dying.  So if the dollar dies then what is a bitcoin worth?  0$?

its worth what people will give u for it duuuh

people will be stuck with bitcoin. u may get a person here or there selling a car or buisness with bitcoin , but it will be considered taxable income , theres no secretly exchanging assets...

[El Diablo Blanco]

its worth what people will give u for it duuuh

people will be stuck with bitcoin. u may get a person here or there selling a car or buisness with bitcoin , but it will be considered taxable income , theres no secretly exchanging assets...

Exactly, it's worth what someone will give you.  I laugh at the arguments claiming it's work X dollars yet they make the same claim the dollar is worthless and dying.  So that means the following in Falconeconomics

1 Bitcoin = $5000
$5000 = worthless shit paper
1Bitcoin = worthless shit paper

[Simple Simon]

Exactly, it's worth what someone will give you.  I laugh at the arguments claiming it's work X dollars yet they make the same claim the dollar is worthless and dying.  So that means the following in Falconeconomics

1 Bitcoin = $5000
$5000 = worthless shit paper
1Bitcoin = worthless shit paper

anything can be used as a medium of exchange as long as people have a belief in its value.

Money just replaces the barter system.

[Marty Champions]

people can make bitcoin 1million dollars a coin, however 99 percent of people who have a million dollar asset will not exchange for the bit coin

[El Diablo Blanco]

Wish I knew hookers who took bitcoin.  Buying it at $400 and being worth $5K means a lot of free whores.

[Evo]

anything can be used as a medium of exchange as long as people have a belief in its value.

Money just replaces the barter system.

So something can have value without resorting to monetary terms?

Ergo rendering your pervious post moot.

[Simple Simon]

So something can have value without resorting to monetary terms?

Ergo rendering your pervious post moot.

we can use bitcoins if everyone agrees they are valuable, unfortunately bit coins are worth $5000 each to some people and fuck all to others, a dollar is a dollar to everyone.

[Mr Anabolic]

anything can be used as a medium of exchange as long as people have a belief in its value.

Money just replaces the barter system.

True, but a big part of it is getting the timing right... and the time for precious metals is NOW.

The US dollar loses value with time.  IMO, it's quickly on it's way to being worthless.  All fiat currencies fail eventually and the USD's failure is long overdue.  Government and the Fed reserve are robbing people blind, albeit in a very stealthily manner over years and years.

Gold and silver (a historical storage of wealth, value and it maintains your purchasing power) is very, very undervalued (priced in dollars) at this point in time.

It's a no brainer... gold and silver (especially) are THE asset to be holding at this point in time.  There is no other place to go right now... every other asset class is huge bubbles waiting to pop.  

Precious metals are a long term play, NOT a get rich quick plan/scam.  When silver eventually passes $50, then $100, then $200, then $500, people here are going to be shocked.  Those who do not have any will be kicking themselves.  

[Marty Champions]

True, but a big part of it is getting the timing right... and the time for precious metals is NOW.

The US dollar loses value with time.  IMO, it's quickly on it's way to being worthless.  All fiat currencies fail eventually and the USD's failure is long overdue.  Government and the Fed reserve are robbing people blind, albeit in a very stealthily manner over years and years.

Gold and silver (a historical storage of wealth, value and it maintains your purchasing power) is very, very undervalued (priced in dollars) at this point in time.

It's a no brainer... gold and silver (especially) are THE asset to be holding at this point in time.  There is no other place to go right now... every other asset class is huge bubbles waiting to pop.  

Precious metals are a long term play, NOT a get rich quick plan/scam.  When silver eventually passes $50, then $100, then $200, then $500, people here are going to be shocked.  Those who do not have any will be kicking themselves.  

gold hell no

silver slim chance

[SOMEPARTS]

True, but a big part of it is getting the timing right... and the time for precious metals is NOW.

The US dollar loses value with time.  IMO, it's quickly on it's way to being worthless.  All fiat currencies fail eventually and the USD's failure is long overdue.  Government and the Fed reserve are robbing people blind, albeit in a very stealthily manner over years and years.

Gold and silver (a historical storage of wealth, value and it maintains your purchasing power) is very, very undervalued (priced in dollars) at this point in time.

It's a no brainer... gold and silver (especially) are THE asset to be holding at this point in time.  There is no other place to go right now... every other asset class is huge bubbles waiting to pop.  

Precious metals are a long term play, NOT a get rich quick plan/scam.  When silver eventually passes $50, then $100, then $200, then $500, people here are going to be shocked.  Those who do not have any will be kicking themselves.  

If silver goes to $500 then hyperinflation is fully in play. There will be unprecedented social unrest within a day or two walking distance of any metro locale for a looooong time. At that point you'd be better off with acreage with a pole building full of liquor, canned food and tobacco(and firearms). People are going to be worried about feeding themselves and looting, not kicking themselves over coins. You've been in the city lately right? Metals are insurance, the 10x gains you note as fact are as speculative as crypto. Ten percent of your net worth in them is fine but dumping all your capital into a manipulated asset is no better than the BTC story to me. Sitting around thinking how far ahead you are lording over everyone someday because you have some metals is short sighted. Again, I went through the Mike Maloneys and Peter Schiffs already in the mid 2000s and I don't discount them completely - but they sell what they talk about.

[Marty Champions]

food feul and fucking

[Mr Anabolic]

If silver goes to $500 then hyperinflation is fully in play. There will be unprecedented social unrest within a day or two walking distance of any metro locale for a looooong time. At that point you'd be better off with acreage with a pole building full of liquor, canned food and tobacco(and firearms). People are going to be worried about feeding themselves and looting, not kicking themselves over coins. You've been in the city lately right? Metals are insurance, the 10x gains you note as fact are as speculative as crypto. Ten percent of your net worth in them is fine but dumping all your capital into a manipulated asset is no better than the BTC story to me. Sitting around thinking how far ahead you are lording over everyone someday because you have some metals is short sighted. Again, I went through the Mike Maloneys and Peter Schiffs already in the mid 2000s and I don't discount them completely - but they sell what they talk about.

Yes... water, food, guns, ammo, liquor, etc. will all be very valuable after a collapse.  Ammo would be worth more than gold in a Mad-Max scenario. 

I have no wish to "lord over" anyone, I just want to protect the last 35 years of my labor.  To preserve wealth and purchasing power, G&S are the only option.  To say precious metals are no better than BTC is ludicrous.  Bitcoin is speculative digital electrons in cyberspace, but G&S are real assets with a 5000+ year track record.  Yes, the prices are manipulated (held down), but the manipulation won't last forever.  Maloney and Schiff were recommending G&S long before they started selling it.

As I have said already, asset prices rise and fall in cycles.  Everything is at the top of it's cycle except for G&S. 

[Marty Champions]

housing in higher n higher demand

[Mr Anabolic]

housing in higher n higher demand

Current housing prices are very overvalued and not sustainable.  Most major cities are in bubbles.  Hasn't popped yet, but the air is definitely starting to coming out.   

[SOMEPARTS]

Yes... water, food, guns, ammo, liquor, etc. will all be very valuable after a collapse.  Ammo would be worth more than gold in a Mad-Max scenario. 

I have no wish to "lord over" anyone, I just want to protect the last 35 years of my labor.  To preserve wealth and purchasing power, G&S are the only option.  To say precious metals are no better than BTC is ludicrous.  Bitcoin is speculative digital electrons in cyberspace, but G&S are real assets with a 5000+ year track record.  Yes, the prices are manipulated (held down), but the manipulation won't last forever.  Maloney and Schiff were recommending G&S long before they started selling it.

As I have said already, asset prices rise and fall in cycles.  Everything is at the top of it's cycle except for G&S. 

I never said BTC is on par with metals, just making the point that saying it's going to $500 is similar to people saying BTC is going to 1 million per coin. It's not based in fact at this point....highly speculative feel good stuff to say. The truth is we don't know if everything is at the top of a cycle because the numbers aren't real. For all the doom talk out there -they can keep inflating as long or longer than a normal person can remain solvent. Look at Japan in the last 20 years. That zombie just continues on in stagflation.

BTC down about $235 today on China crack downs. The exchanges are the weak link in crypto. At some point people who hold it will be begging for centralized exchange and oversight to get their money, mark my words.

[El Diablo Blanco]

doesn't bitcoin depend on the internet and computers to transfer and use?  Do you really think that if a nuclear war hits and EMPs are used that you'll still have your phone or PC to transfer and use them?  All digital currency will be useless.  Those bitcoins will only be useful for other people that use bitcoins.