Posted on 01/30/2021 4:35:29 AM PST by Kaslin
Hmmmm.
Gold comes out of a mine and is real. Just because you draw an analogy to mining bitcoins, don’t make it real.
Ponzi scheme on hemmorroids...
Pogs.
There’s a Bitcoin ATM at my local gas station......
That is the least true thing about BTC.
Curtis Yarvin wrote in 2013: Bitcoin dies in two very simple steps.
1: A DOJ indictment is unsealed which names everyone on Planet Three who operates, or has ever operated, or perhaps who has ever even breathed on, a BTC/USD exchange, as a criminal defendant.
The charge: money laundering. The evidence: the defendants knew that BTC were used for organized criminal activity. Therefore, they knew they were transferring money for criminals. This is quite simply the definition of “money laundering.”
(Obviously, prosecution under our modern “rule of law” proceeds according to these broad definitions, without regard to any specific technicalities. For instance, Aaron Swartz downloaded many more papers from JSTOR than JSTOR wanted him to. Therefore, he used JSTOR’s computers in a way that JSTOR didn’t want them to be used. Therefore, he could be prosecuted for “computer hacking.” Indeed he seemed to sense this when he put his bike helmet over his face and ran from the police. The details? They might have mattered, at the trial. But of course there was no trial.)
2: The BTC/USD price falls to 0 and remains there. BTC are permanently worthless. Everyone who was involved in the Bitcoin market and was holding BTC when the indictments were unsealed feels burned. Everyone who got out feels lucky. Many who escape prosecution, in fact, feel lucky. And BTC is remembered as an epic bubble.
#Silvertothemoon!
I wish I were financially aware enough to jump on the bandwagonscearly. I would have sold all my Bitcoin and gotten out, and I would have had millions to my name.
I wonder how many people put down 9,000.00 on their F150 loan?
At least you can hold pogs in your hand. Try that with a bitcoin.
Bought 4 bitcoin when I was working in Saudi not as an investment but as a way to buy on the internet because sometimes my credit card would be blocked because of my location.
Pain 1000 for the 4 bitcoin.
Sold one and made a 2000 profit.
Still have 3.2, plus other crypto that spun off of the bitcoin.
At this point anything is gravy, no risk of a loss.
I’m gonna hang on for awhile and see what happens....
LOL.
When was the last time you held a T bill in your hand?
Or shares of a mutual fund or stock?
Most of the money in the world is digital now.
sure looks like it.
3. Because every transaction is traceable, you lack annominity. If the government ever controls the data base, it just become a visa card.
The only thing Yarvin missed was that holding BTC would be a marker of “white supremacy”.
I bought 1.0 BTC at an ATM at a gas station in Fairfax. I remember feeding in the twenty dollar bills, and getting a piece of paper with the private key. Seemed a little expensive at the time.
It’s fashionable to ignore the underlying value of things.
“ No different from the dollar, bitcoins are valuable because we believe they are valuable.”
The full faith & credit of America and used electricity are the same? I think not.
That would be true if the government said it was money. But it's a commodity and we (properly) pay gains taxes when it is traded for a different commodity or sold for cash. All those transactions are easily traced.
Bitcoin May Be the New Gold - Don’t know about that but I just read that hedge funds are shorting bitcoin. Could be the next gamestop.
I enjoy the comments on Bitcoin threads. They are so 2013.
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