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Bitcoin the tulip or lord of money.

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  • Bitcoin the tulip or lord of money.

    For Bitcoin and others to be more worthy than tulip money. The next move. It needs to be able to be used for everyday transactions along side the national currency. So its legal tender.
    Bitcoin proponents want you to be able to spend it everyday and that its safer than fiat money issued by the central bank or faith you'll get your value back currencies.

    In other words it'll destroy central banks money worldwide they hope therefor bitcoin holders will be yipeee rich as Croesus all of a sudden.
    An analyses from the CIA says this. Adapt or die banks!

  • #2
    I think it is in grey area now, and I don't think it will trade as global currency IMHO however, Visa, Mastercard etc are used worldwide. Don't know where the future tho.

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    • #3
      Some retailers apparently accept bitcoin already.

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      • #4
        Originally posted by Hildemel View Post
        Some retailers apparently accept bitcoin already.
        Yes, IRS has said it is taxable commodity so some legality is there, however, don't know this Cryptocurrency is gaurantee by what, dollar? Curious about it but don't know much.

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        • #5
          Originally posted by thounaojamtom View Post
          Yes, IRS has said it is taxable commodity so some legality is there, however, don't know this Cryptocurrency is gaurantee by what, dollar? Curious about it but don't know much.

          The USD isn't backed by shit either. It hasn't been backed in 40-50 something years.

          Like they should even be saying anything about bitcoin. The biggest thing with bitcoin is that there is a cap. Once 21 million coins are "mined", that is it, no more will be made.

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          • #6
            https://www.extremetech.com/extreme/...-159-countries


            Bitcoin Mining Now Uses More Power Than 159 Countries
            Hard resources for an ethereal bubble.

            Jew gold ftw..

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            • #7
              Every coin with a finite amount will eventually fail.
              Also, Bitcoin is an open book and classified as an asset by many countries.

              If you dont want to pay taxes and/or have shady income sources like trading weapons with North Korea or Iran, use Monero.
              It is untraceable and the 6th highest volume traded coin.

              If youre just looking for an alternative to pay than try Tether.
              It has the 5th highest trading volume, is very stable at around 1 Tether ~ 1$ and could be a global exchange coin.

              Blockchain has other possible uses like secure electronic voting or document verifying, if youre interested in that look for Factom coin.

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              • #8
                Originally posted by Kilgor View Post

                Bitcoin Mining Now Uses More Power Than 159 Countries
                Hard resources for an ethereal bubble.
                .....
                ​There is a reason why a lot of modern malware turns infected computers into bitcoin generators. Makes sense to have someone else pay for your electricity.

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                • #9
                  Originally posted by Kap View Post


                  The USD isn't backed by shit either. It hasn't been backed in 40-50 something years.

                  Like they should even be saying anything about bitcoin. The biggest thing with bitcoin is that there is a cap. Once 21 million coins are "mined", that is it, no more will be made.

                  however,....gold and silver both have legit uses as metal in industry.

                  BTW silver coins last minted at full 90% silver by US govt in 1964. Gold coins were last minted as circulating coinage in US about 1933 (IIRC).

                  Of course US dollars are TIED (not backed as you said) to gold &silver by market values. Where as bitcoins are supposedly fixed at a maximum number.....no such limit on printing dollars backed by trust in US economy.

                  Also BTW.....if all the banks fail, as someone suggested, then nations fail and bitcoins fail / power grid / internet fails. So it wont matter after nations all fail.
                  Back to trade for water, food shelter etc.

                  national currency/dollars have mostly always been partly backed by : trust & debt.

                  in US paper currency.......used to be green seal notes said SILVER certificate and werebacked by silver in govt vaults,.....notes that said GOLD certificate were backed by gold in Fort Knox, and paper currency that said National note (or something like that) were backed by the DEBT the US north incurred during the US civil war.
                  a debt to the US from the US, by the US.

                  https://en.m.wikipedia.org/wiki/United_States_Note

                  https://en.m.wikipedia.org/wiki/Gold_certificate

                  https://en.m.wikipedia.org/wiki/Silver_certificate

                  T
                  he last copper US cents were minted in US about 1983 ......IIRCC.....now all zinc with plating
                  Last edited by commanding; 06-12-2017, 01:38 AM.

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                  • #10
                    When I think that 6 or 7 years ago I considered mining bitcoin. At the time I was (and still do) using my PC to do calculation with boinc for SETI, research on cancer and so on. I then considered wrongly that it was either mining bitcoin or the greater good. Went for the greater good. I hope it was worth it.

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                    • #11
                      Originally posted by N-rg View Post
                      Every coin with a finite amount will eventually fail.
                      Also, Bitcoin is an open book and classified as an asset by many countries.

                      If you dont want to pay taxes and/or have shady income sources like trading weapons with North Korea or Iran, use Monero.
                      It is untraceable and the 6th highest volume traded coin.

                      If youre just looking for an alternative to pay than try Tether.
                      It has the 5th highest trading volume, is very stable at around 1 Tether ~ 1$ and could be a global exchange coin.

                      Blockchain has other possible uses like secure electronic voting or document verifying, if youre interested in that look for Factom coin.
                      I think you should mean every coin with a infinite amount?

                      One of the positives of gold and BT is finite limits. The rapists at central banks can't simply shove trillions into an economy to "quantitative ease".

                      There is no theft from dilution or artificial inflation.

                      “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.” - a central banker before becoming a shill

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                      • #12
                        Originally posted by Kilgor View Post

                        I think you should mean every coin with a infinite amount?

                        One of the positives of gold and BT is finite limits. The rapists at central banks can't simply shove trillions into an economy to "quantitative ease".

                        There is no theft from dilution or artificial inflation.

                        “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.” - a central banker before becoming a shill
                        No, i see a slowly increasing amount as necessary against deflation and natural loss of coins.

                        Other currencies have an infinite amount and give a dividend of 1 to 6% a year to prevent this, which i think is the better solution.

                        Btw many years ago in 2013 i think i first came in contact with crypto currencies.
                        Back then i could mine a single Bitcoin in one or two weeks or so.

                        And what did i do? I mined fucking Dogecoins because i was dumb -.-
                        Eventually i deleted the wallet becaus back then they were as useless as today

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                        • #13
                          16,000. USD

                          Insane upside in the last 24 hours.

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                          • #14
                            Originally posted by Kilgor View Post

                            I think you should mean every coin with a infinite amount?

                            One of the positives of gold and BT is finite limits. The rapists at central banks can't simply shove trillions into an economy to "quantitative ease".

                            There is no theft from dilution or artificial inflation.

                            “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.” - a central banker before becoming a shill

                            not arguing.....rather serious query........a person had half million dollars in gold certificates in US IN 1920 stashed under his bed,....then along comes FDR. who eliminates public right to trade currency notes for gold bullion.
                            that govt action robs citizen of his gold in essence, right? There is always a. govt. Same with savings in real estate or any form ....almost. govts can and do nationalize business, land, structures, companies,,....see Cuba, china etc.



                            intrinsic value being portable thus small and lightweight like gold or diamonds = superior to gold backed currency. (Gold coins, silver coins)

                            my belief is bitcoin does not solve most issues with govt currency

                            so i agree with banker....There is no safe store of value.
                            some methods safer than others. Gold, silver, real estate....real property with intrinsic value. Ammo. Certain amounts of guns, food. Etc.
                            Last edited by commanding; 08-12-2017, 01:58 AM.

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                            • #15
                              Gold was suppose to be the one during all the money printing value destruction. Instead it was follow the money into assets as the path to retirement.

                              Its getting futures tradable Dec10 which is fuelling the rise. The traders have mentioned some concern over heavy falls, exposed to trading costs.

                              https://www.coindesk.com/threat-bitcoin-futures/

                              Its not able to be a crypto currency.
                              Lifes complex enough without debating in your head at a checkout what to use to pay for it.


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