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

[gib]

Stop lying.  NO ONE is sending you PM's regarding bitcoin or this thread.

I hereby give permission to mods to verify whether or not I’m getting PM’s (I assure you I am). I could also provide screenshots of PMs but don’t want to compromise confidentiality.

But either way, even assuming I’m not being PMed that should not be a relevant factor in the validity of the information I am posting here.

[gib]

Government can do ANYTHING it wants to.  They enact laws and they have the police, military and court systems to enforce it all. 

You're not thinking clearly, critically or realistically because the crypto Kool-Aid has inebriated your brain.

Like how they banned gold you mean? Or how they control guns? Or how they stop drugs you mean?

And which government of the hundreds of countries that exist are you referring to exactly...? No government can defeat mathematics.

[ratherbebig]

when bitcoins crash there will be no need for government to interfer

[Mayday]

Like how they banned gold you mean? Or how they control guns? Or how they stop drugs you mean?

And which government of the hundreds of countries that exist are you referring to exactly...? No government can defeat mathematics.

The gun industry is around $45B for manufacturing and sales annually. Then you have training and facilities on top of that. To the rest of the world it's appears that every single American alive loves guns and will die before they let the Govt take them away. This employs tens of thousands of people who pay taxes.

Gold market is worth $7 Trillion worldwide and the largest exchange run by the world's largest bank is in the US - JPM.

You are comparing those to Bitcoin:
Bitcoin is $20B (probably less now that it's gone down 10%......) of which the US is a 35% share meaning there is probably $7B US ownership in Bitcoin.
40% owned by people who paid fuck all for it.
It's been called a fraud by the largest banks and heads of Finance - in regards to how it's being sold to the public (because it is a fraud, i'm just hoping to make money off of it LOL).

It's not on the radar yet because the real cash investment is abysmally low......so nobody gives a shit about it's impact because there is none except in the minds of the plebs like you thinking it's an actual global currency lol.

If investment was actually anything worth worrying about they'd have regulated it by now.


Nobody defeats mathematics, they use it to go around problems.

[Slapper]

When the central banks launch their own crypto's the difference to theirs to these decentralised cryptos is they will peg it to their existing base currency which WILL be in the financial system that allows a 98:2 leverage rate. So it will behave the same.

1. Do you honestly see these folks launching anything that isn't printed on paper?



Look at them for a fucking second! Do you think that they have an inkling as to what is going on? They can barely send an email for peace sake!

2. Even if someone in the government is smart enough to create a crypto, NO politician will have the audacity to one-up the business community. The US government is not in the business of competing with the likes of Wells Fargo on wire fees.

The only role the US government can play in all of this is that of passive spectator just like they did with the internet. These technologies are too vast and free for them to be able to do anything about it. Yes, much like in the mid 90s, when music executives were on every TV show threatening people to take them to court if they had the balls to download a single song from Napster, we are seeing advancement the likes of single-minded US businessmen cannot comprehend.

This isn't going away.

[Slapper]

[Mayday]

1. Do you honestly see these folks launching anything that isn't printed on paper?

Look at them for a fucking second! Do you think that they have an inkling as to what is going on? They can barely send an email for peace sake!

2. Even if someone in the government is smart enough to create a crypto, NO politician will have the audacity to one-up the business community. The US government is not in the business of competing with the likes of Wells Fargo on wire fees.

The only role the US government can play in all of this is that of passive spectator just like they did with the internet. These technologies are too vast and free for them to be able to do anything about it. Yes, much like in the mid 90s, when music executives were on every TV show threatening people to take them to court if they had the balls to download a single song from Napster, we are seeing advancement the likes of single-minded US businessmen cannot comprehend.

This isn't going away.

1. So because you have no data nor any idea how monetary systems work, your best argument is to post a picture from google images and say 'look how old they are, they don't know what's going on'........... ok
2. Who is this 'business community' you refer to?  The business community isn't crying out for bitcoin because they already have legal tender you dolt. The only people crying out that we need bitcoin as a currency are the people who bought it at $0.01 each and the people who paid $18,000 each LMAO.  

The banks are adopting blockchain on a private network to cover B2B transfers and it's Ethereum, not Bitcoin.  

Nobody said it's going away, in fact everybody is saying blockchain is awesome and we know that banks, Govt and big business are adopting the technology. Who is telling you blockchain is going away because they are misinformed.


Where you guys are going wrong with Bitcoin is you were easily sold on the belief it was a global currency/money. It's an impossible ask. Cryptos will be a form of exchange but it's to do with piggy backing off the existing monetary market to increase speed and ease of transfer.

Whilst you guys keep banging the global currency drum you are failing to see the real market for blockchain is in banks/utilities/telco....... that's where the importance of blockchain technology lies where they can transmit payments faster than before including across countries without dealing with exchange rates.


I can kill your bitcoin in one swoop with this one question.

You guys claim the webstores, amazon, ebay etc will all accept bitcoin. Cafe's, restaurants, small business will accept bitcion etc..... ok so lets assume we wake up tomorrow and they all accept bitcoin. Answer me how do they then manage their bitcoins with a banking system based on the Ethereum platform........  


FWIW i already said i am heavily invested in cryptos but i have a different outlook as to their function.

[Griffith]

Only being able to handle 4 transfers per second and delay times of sometimes days are quite serious obstacles for Bitcoin if it was to be used as a currency.
Another issue is the high transfer costs.

[Twaddle]

[Mayday]

thats fucking funny!

[gib]

Only being able to handle 4 transfers per second and delay times of sometimes days are quite serious obstacles for Bitcoin if it was to be used as a currency.
Another issue is the high transfer costs.

True. Yet for gold as a comparison the numbers of transfers are way less then 4 a second. And the commissions on gold transfers are higher. Let alone the inability to send a piece of gold to anywhere and anyone in the world in seconds.

And of course bitcoin can (and will be) modified in any case to address these issues (like the bitcoin cash offshoot for example).

[gib]

Should be 2 in Q4 2017 since Steam stopped accepting bitcoin.

Vs pretty much zero acceptance by ecommerce merchants of gold or silver ...

[gib]

Reality is that bitcoin is becoming the digital version of gold. Time will tell if bitcoin get adapted for more frequent and volume transactions.

[Mayday]

Reality is that bitcoin is becoming the digital version of gold. Time will tell if bitcoin get adapted for more frequent and volume transactions.

but for 56 pages you just said bitcoin was currency/money..... now you say it cant handle the speed of cash transactions and now you say its actually Gold.....

So you now believe the $20B is taking over the $7T gold market..... when?

Do you say this because a billionaire who just reduced his investment in cryptos by 40% tweeted 'trust me its the same as gold'? 

Do you also believe the inventor of litecoin sold all his holdings because people were tweeting mean things? fuck me dead thesw billionaires are doing a number on you people.

[Mayday]

Reality is that bitcoin is becoming the digital version of gold. Time will tell if bitcoin get adapted for more frequent and volume transactions.

So what do you secretly know that the co-founder of bitcoin doesn't?

He says it's useless and has no purpose and told everybody to sell.

You are 56 pages and still saying it's a currency/money and now claiming it's gold.

What do you know more than the co-founder of Bitcoin who just told you it's useless?  If he was on this forum (lets say he is me) and he told you it's not money, not gold, useless, what would you want to say to the CO-FOUNDER OF BITCOIN?

[Griffith]

True. Yet for gold as a comparison the numbers of transfers are way less then 4 a second. And the commissions on gold transfers are higher. Let alone the inability to send a piece of gold to anywhere and anyone in the world in seconds.

And of course bitcoin can (and will be) modified in any case to address these issues (like the bitcoin cash offshoot for example).

Amazon alone has nearly 500 transactions per second. Any modifications to Bitcoin would require another hard fork and the issuing of a new cryptocurrency.

[Mayday]

Amazon alone has nearly 500 transactions per second. Any modifications to Bitcoin would require another hard fork and the issuing of a new cryptocurrency.

The Co-Founder of Bitcoin said himself it can't be done and is useless. He had even told everybody to sell bitcoin LOL. But here is the kicker, he said only Bitcoin Cash solves those issues.....

Sooooo it's a case of hey this crypto will become a global currency.... sorry it actually doesn't work.... but don't worry, we created this spin off that fixed all the problems the first one had and this one will become a global currency....

Fuckers should be jailed. Poor people like gib who don't understand monetary systems have been swindled crazy hard.

Steal a car, get 5 years in jail. Swindle $20B, get 1M likes on facebook.

[el numero uno]

The Co-Founder of Bitcoin said himself it can't be done and is useless. He had even told everybody to sell bitcoin LOL. But here is the kicker, he said only Bitcoin Cash solves those issues.....

Sooooo it's a case of hey this crypto will become a global currency.... sorry it actually doesn't work.... but don't worry, we created this spin off that fixed all the problems the first one had and this one will become a global currency....

Fuckers should be jailed. Poor people like gib who don't understand monetary systems have been swindled crazy hard.

Steal a car, get 5 years in jail. Swindle $20B, get 1M likes on facebook.

Not at all.

He's always very objective with his investment decisions. Its been a key to his success.

He is a very conservative investor. He always build in safety margins when valuing assets.

He does function at a very high level financially.

[Mayday]

Not at all.

He's always very objective with his investment decisions. Its been a key to his success.

He is a very conservative investor. He always build in safety margins when valuing assets.

He does function at a very high level financially.

No. He doesn't understand monetary systems.

People make money without understanding systems all the time. No issue with me there.

By all means there is money to be made. Some will make lots for all the right reasons. Some will make lots for all the wrong reasons.


The co-founder of bitcoins told everybody to sell and that it's a dog.

The founder of Litecoin sold his holdings and bailed out.

A Director in a $2.1B asset value hedge fund holds $1.4M and is thinking of selling.

The largest trade of an ex fund manager putting in 500k, selling for $250M decided he will only re-invest $150M back into cryptos.


gib unfortunately has been sucked in due to lack of understanding of monetary systems as he believes that bitcoin is a global currency and gold. Even when the co-founder says that is not true, gib is unfortunately unable to recognise that input.   I think it's extremely unfair for gib and people like gib to suffer. I hope for his sake he gets out early enough to make some profit and enjoy it 

[Mr Anabolic]

No government can defeat mathematics.

Pure cognitive dissonance.

[Mr Anabolic]

No. He doesn't understand monetary systems.

People make money without understanding systems all the time. No issue with me there.

By all means there is money to be made. Some will make lots for all the right reasons. Some will make lots for all the wrong reasons.


The co-founder of bitcoins told everybody to sell and that it's a dog.

The founder of Litecoin sold his holdings and bailed out.

A Director in a $2.1B asset value hedge fund holds $1.4M and is thinking of selling.

The largest trade of an ex fund manager putting in 500k, selling for $250M decided he will only re-invest $150M back into cryptos.


gib unfortunately has been sucked in due to lack of understanding of monetary systems as he believes that bitcoin is a global currency and gold. Even when the co-founder says that is not true, gib is unfortunately unable to recognise that input.   I think it's extremely unfair for gib and people like gib to suffer. I hope for his sake he gets out early enough to make some profit and enjoy it  

Gib is obviously a liberal.  When you're debating with a liberal, facts don't matter.

[Slapper]

1. So because you have no data nor any idea how monetary systems work, your best argument is to post a picture from google images and say 'look how old they are, they don't know what's going on'........... ok

I don't get why you spend so much time telling people (me and others) they have "no idea" about monetary systems in reference to the picture I posted... I really don't. What I do know is that the FR's exes and current chairwoman, based on what they've publicly stated about cryptos, have no frigging idea about them. None. And the reason I posted the picture was to merely illustrate the reason: THEY ARE FUCKING OLD!

Anyhow, here's my two cents: I'll preface what I'm about to say with an "I have no ax to grind" and a "I don't have a preference when it comes to cryptos" so that you know where I'm coming from. Cryptos are internet currency (among many other things) that can be used anywhere in the world. Yes, adoption has been slow and, at times, seems like it's not going anywhere, but the world will warm up to cryptocurrencies in the same way it warmed up to communicating over the internet, buying shit through the internet, spend a great deal of time on the internet (kinda like you and I are doing right now). And the best part is that there isn't SHIT the governments can do about it in the same way it can't put up walls to prevent hurricanes from coming ashore.    

2. Who is this 'business community' you refer to?  The business community isn't crying out for bitcoin because they already have legal tender you dolt. The only people crying out that we need bitcoin as a currency are the people who bought it at $0.01 each and the people who paid $18,000 each LMAO.

I'm not saying that you retard. I'm saying that the introduction of blockchain will change the way everyone does business. All US companies are going to have to change business models because SHIT's ABOUT TO GET REAL. Their fee structures are about to take a hit, regardless of whether they decide to go with ETH, BTC, CNN or NBC. The biggest gainers are going to be people like you and I and saving a shit ton of money on abusive fees. And this is only the tip of the iceberg. In a few years you and I will be able to borrow mortgage money from an individual in Nepal at 1% and pay ZERO in closing costs, taxes and lawyer fees. We will be able to buy stuff from overseas at ½ the cost. In essence, we will be able to take advantage of all the perks corporations have right now and make a killing on it. We're already seeing it in things like cable TV and the use of the fire-stick. Why on God's Good Earth would you pay $200 a month for cable/phone/internet when you can pay $0 if you buy a jail broken firestick? TV nowadays is shit anyway. Why would you and I have to pay $ 1,500/year in car insurance if the car is parked in the garage 99% of the time? These abuses of convenience are going away, and whether it's Bitcoin, Ethereum or XRP that will be doing the financial/transactional greasing is inconsequential.  

Some of you are looking at this three-dimensional issue from a one-dimensional perspective. Your fixation on the cryptos remind me of the time people used to think the internet was only email.

[loco]

LOL

[Zillotch]

I think it's extremely unfair for gib and people like gib to suffer.

Gib is evil, and deserves to suffer for his super lame and annoying updates alone.

[ratherbebig]

Gib is evil, and deserves to suffer for his super lame and annoying updates alone.

mght be a faggit too? we should asume he is until he shows otherwise