Bitcoin is fiat money. Another banker scam.

Discussion in 'General Discussion' started by ShootSpeeders, Nov 24, 2017.

  1. ShootSpeeders
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    ShootSpeeders Gold Member

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    Anyone who thinks it was created by some anonymous jap is a fool. The banksters created it. They say it is not fiat or gold but it is indeed fiat. Bitcoin is backed by nothing. The bitcoin shills tell us it is not fiat because only 21 million bitcoins can ever exist. But remember

    1. That is an arbitrary number that can be changed at any time.

    2. There are also many other crypto-currencies that are really just bitcoin with another name

    3. The difficulty level of the problems that must be "mined" to create bitcoin can be altered at will too.

    Any non-fiat money must be backed by something and that something must be rare.
     
  2. BuckToothMoron
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    BuckToothMoron Gold Member

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    I doubt seriously it would classify as money of any sort right now. It is incredibly unstable, it is held by relatively few people with a huge concentration held by even fewer people. If you bought a bitcoin 2 years ago, the last thing would have wanted to do is spend it on anything considering its value has increased over 30 times.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Bitcoin mine in Slovenia hacked...
    [​IMG]
    Bitcoin Worth Millions Stolen Days Before US Exchange Opens
    December 07, 2017 — A bitcoin mining company in Slovenia has been hacked for the possible theft of tens of millions of dollars, just days before the virtual currency, which hit a record above $15,000 on Thursday, is due to start trading on major U.S. exchanges.
     
  4. waltky
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    waltky Wise ol' monkey Supporting Member

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    Woman uses bitcoin to launder money for ISIS...
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    N.Y. woman attempted to send bitcoin to Islamic State, feds say
    Dec. 15, 2017 -- A New York woman was charged with several financial crimes in an effort to send bitcoin to the Islamic State, according to an indictment unsealed in federal court Thursday.

     
  5. Natural Citizen
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    Natural Citizen Gold Member

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    It's currency competition. And the dollar is already down 98% since the creation of the Federal Reserve and its collection wing, the IRS, both in 1913. It's worth about 4 cents of its original value. The only reason the dollar hasn't tanked yet is because the politicians keep kicking that can down the road so it doesn't tank on their watch. It will fail. It is not a question of if. It's a question of when.

    Cryptocurrency is one step closer to defeating that monopoly on money and to starve that worthless vampire once and for all.
     
    Last edited: Dec 16, 2017 at 3:52 AM
  6. Natural Citizen
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    Natural Citizen Gold Member

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    Yeah, and our elected leaders historically print federal reserve notes to send weapons, vehicles, and rations to terrorists to overthrow and install governments abroad. What's your point?

    Is it a coincidence that a century of warfare coincides with a century of central banking?
     
    Last edited: Dec 16, 2017 at 3:53 AM
  7. USNavyVet
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    USNavyVet VIP Member

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    Correlation is not causation.
     
  8. Natural Citizen
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    Natural Citizen Gold Member

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    Oh. Okay. So that 726 billion dollar check for the 2018 tab to place armed men, vehicles, and bases from the United States federal government on the shores of nations abroad to antagonize, I mean defense spending, is gonna come out of our store of value, then? Silly me. I thought we were 21 trillion in the hole and holding onto what's left of a 4 cent dollar.
     
  9. USNavyVet
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    USNavyVet VIP Member

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    Your wild fantasies do not constitute causation. Try again.
     
  10. Natural Citizen
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    Natural Citizen Gold Member

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    Go color, moron.
     

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