Posted on 01/14/2019 3:46:50 PM PST by Responsibility2nd
“I’ve got some Iraqi Dinars that are going to make me a bundle when they revalue them.”
Me, too.
And he's a well-known damned fool.
Second, They said I could buy dope and whores and even a murder if I wanted it. I said, "Huh?" that will be shut down PDQ.
Then they said No one can tax you for making money. I said, Huh?". The gubmints will stop that pretty quick.
Then they said there is no FDIC and in fact if someone hacks you, you lose 100%. I said, BWAHAHHAH, nobody is this stupid.
Now the "true believers are selling and taking their marbles home. You can set up a server farm and run 1000 CPU's and use more electricity than the value of the Bitcoin you generate. This has been tried many times before with "script". You can print your own money and trade with it, but the first counterfeit bill forces a trade out to a new script. 90% is used for shady deals and avoidance of the laws. Buy some ATT and get 7% divies. Since the downturn of Bitcoin, I keep having a vision of Steve Martin walking down the street with his pants around his ankles while holding a thermos. They will be saying they were born a poor black child. That would be the only excuse for losing so much money.
He's dead Jim.
You clearly misunderstand what gold is. It is not something that you invest in hoping to make a killing. Gold is simply cash. Nothing more and nothing less. It is the world’s oldest and most universally accepted store of value.
My current customer is looking to crypto currency to replace the Swift settlement system.
Gold is a commodity and like a commodity can be traded in a manner to make a profit, just like any other commodity.
“How many people today could tell gold from brass? ”
That one’s pretty easy. It’s mallebility is pretty singular:
Gold—the original bite-coin.
With China & Russia involvement in Bitcoin, alongside heavy physical gold accumulation over the last 10 years by both, is it possible for BTC to be backed by gold? How would this influence the valuation of both? Stable store of value & monetary foundation.
Boom exactly!
Here is a great blog about crypto currencies, economics, politics, history and religion.
This guy does great job and very intelligent in my opinion.
https://philosophyofmetrics.com/
China is buying Bitcoin too.
If the Russian Government are politicising the legitimacy of Bitcoin by giving it the backing of a super power, I wouldn’t be surprised to see the USA respond by validating XRP (Ripple) as the go to digital asset for the USA and attempt to reduce the significance of Bitcoin.
Haha! Ya got me.
A roadmap for Crypto
2017 - Retail investors
2018 - Consolidation
2019 - Institutional Investors
2020- Visa MasterCard adopt
2021 - Nocoiner Investors
2022 - FIAT starts to be displaced
2025 - Tokenised stock markets overtake traditional markets 2050 - what is $?
“International banks and central banks would never allow it.”
The good thing is that “international and central banks” have as much control over cryptocurrencies as they do over the weather. In other words, zero.
They absolutely do, when it comes to establishing the legal currency for a nation.
Buying and selling Bitcoin in the US is still measured and transacted ultimately in US dollars.
Agree. XRP is pushed by the bankers, as a hedge against the possibility of BTC becoming the world's digital gold. Which is why I, and many more, have steered clear of it.
I prefer the idea of money generation, methods of exchange, etc., controlled by the people of the world - NOT central banks (no longer a need for banks), government (look for future replacement of government), etc.
I'm all about freedom of trade, living independently, and following the commandments of the one who put us on this planet to begin with. Deviated from any of these and humanity sinks into a murderous, deviant hellhole.
If we don't blow ourselves up first, I think the internet will allow for a world governed by self rule, following closely God's law. Much like the USA at its inception.
Our system of government has far too few representatives of the people, making it too easy for theses few, tenured for four long years, to be corrupted and in turn corrupt our laws to favor big government and big business.
Around the turn of the century, I was involved in creating a government accounting/budgeting system which used a unique identifier (exactly like crypto) to track every single purchase from appropriation to expenditure.
It was a local development that was spreading until two very high government officials retired and became consultants for SAP. SAP then won a 1 Billion dollar contract to develop and implement a version of accounting which used their proprietary modules at an annual lease of millions and millions of dollars.
Just before I left, I saw a bit of the effort that went into trying to implement and tie SAP's way of doing things into the government's accounting processes - it was a serious train wreck. Disgusted, I've avoided any news of the final outcome to this day.
DLT and open source/government software running on our government systems would save us billions and billions, but it's not who saves, it's who can spend the most - which I believe is rooted in our debit based on nothing monetary system.
Imagine all government budgeting/appropriation/spending (except sensitive/classified), accounted for through a distributed, open ledger system, accessible by anyone with a internet connection.
Imagine all budgets/funding/expenditures voted on/approved by the actual citizens of a nation/state/local government bodies.
Imagine all laws and regulations voted on/approved by the actual citizens of a nation/state/local government.
These are just a few examples of the power that the internet would allow to be transferred from a powerful few to the entire populace.
There would need to be safeguards, individual rights, guarantees, requiring a super majority of the people to implement/change - like there is in our current Constitution.
I think this is what this technology allows us to do.
That's due to its volatile price - which is how the CB will attempt to maintain control. There are ways to stop this, and sooner are later, someone or some thing is going to implement the means to do so.
We'll have to disagree. If Bitcoin were allowed to be a recognized official currency then it would remove the fact that US dollars are backed by treasury securities (claims on the future labor of others).
This would then remove the power component of those seeking to control that future labor - and that is what power is all about.
Those in power won't let it happen.
“Buying and selling Bitcoin in the US is still measured and transacted ultimately in US dollars.”
If I buy something using Bitcoin at, say, Egghead, US dollars aren’t involved at all. Just as if I buy a bottle of tequila in Mexico using USD, no pesos are involved.
Easy, eh? A bitcoin (just like a dollar) is worth whatever someone will give you for it.
Sure they are.
USD is our legal currency in the US. Egghead routinely determines that a bitcoin is equal to 'x' USD towards the purchase of a product. They allow the bitcoin to be used as a surrogate - but the bitcoin is not a recognized currency of our nation. The banks would never allow it.
If you want to buy a bitcoin you ultimately use dollars here in the US. If you want to sell a bitcoin then you ultimately get dollars in return.
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