Bitcoin was the best-performing currency of 2016

[Redfish]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

sorry, but you are wrong. Try taking your bitcoin to your local convenience store for a 6 pack.

 

[P@triot]

that's part of the problem with Bitcoin. Its not backed by anything or anyone. Its fake money. It will crash, watch.

Neither is the U.S. dollar. But that being said, it wouldn’t surprise me if Bitcoin crashed.

theoretically the US dollar is backed by the US government.

Well that and $17 will get you a cup of coffee at Starbucks...

 

[P@triot]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

sorry, but you are wrong. Try taking your bitcoin to your local convenience store for a 6 pack.

Sorry...but I’m not. The entire world appropriately refers to it as a “cryptocurrency” except for a few people on USMB looking for an argument.

 

[BuckToothMoron]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

Believe what you want. Do you know anybody who uses to buy things on a regular basis? Let me see you try to do all your Christmas shopping with it or pay your taxes.

 

[BuckToothMoron]

I saw bit coin as a new version of a ponzie scheme. hmm, and look at where we are now..

That’s only possible as an investment in Bitcoin. It can’t be a Ponzi Scheme if you are mining for Bitcoin or using it for currency as their is no money “invested” by the person mining/using it.

Wrong again. It is cost a boat load of money to mine a bitcoin. You are really confused on this.

So-called miners perform a crucial function within the blockchain, or the decentralized ledger technology that underpins all crryptocurrencies, by solving complex computational problems to validate transactions on the network, In exchange for this function, which powers the blockchain, miners are rewarded with bitcoins.

Mining is a very energy-intensive process; by one estimate, bitcoin requires 215 kilowatt-hours of energy for each transaction. According to Morgan Stanley data, the total energy consumption of the bitcoin network consumes as much electricity as 2 million U.S. homes.

 

[Rexx Taylor]

so what will be the rage in 2018? "Tit-Coin" ???

 

[BuckToothMoron]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

sorry, but you are wrong. Try taking your bitcoin to your local convenience store for a 6 pack.

Sorry...but I’m not. The entire world appropriately refers to it as a “cryptocurrency” except for a few people on USMB looking for an argument.

Ahh, so because the description contains currency you automatically believe that means it is a true currency. Trump calls himself a Republican, so does John McCain, but neither is a conservative in my eyes. Rachel Maddow calls himself a woman and well......you get the point.

 

[BuckToothMoron]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

sorry, but you are wrong. Try taking your bitcoin to your local convenience store for a 6 pack.

Sorry...but I’m not. The entire world appropriately refers to it as a “cryptocurrency” except for a few people on USMB looking for an argument.

It’s not a currency according to any government. If you buy bitcoin and then sell it for a profit, you will pay a capital gains tax.

 

[Litwin]

This speaks volumes. People have rightfully lost all faith in government due to the endless corruption. They manipulate currency. They endlessly print more of it. They take as much of it from the people as they want.

Times....they are a change'n. We are seeing a resurgence of the independent patriot who will not be a slave to a monarchy. Even finding new ways to operate in the modern world without government printed currency. I wonder if this will eventually become the exclusive currency of the future?

Bitcoin Was the Best-Performing Currency of 2016

Belarus adopts new cryptocurrency rules to attract startups and ICOs ...
Belarus adopts new cryptocurrency rules to attract startups and ICOs...
4 days ago - In the battle to gain global leadership within the exploding cryptocurrency industry, Belarus is making its own bid to be considered a major hub.

Belarus Legalized Cryptocurrency to Become a Global Crypto Hub ...
www.usmessageboard.com › US Discussion › Politics

Belarus strikes again ,)) any plans to move to Belarus in order to create very own bitcoin mine there? Look like the hans already there Given this...

 

[P@triot]

According to Morgan Stanley data, the total energy consumption of the bitcoin network consumes as much electricity as 2 million U.S. homes.

Idiotic again. You clearly have no idea what a Ponzi Scheme is (hint: it is not the local public utility receiving money for the product they provided ).

Furthermore....the “Bitcoin network” is worldwide. Any one person might spend an additional $2 a year in the “mining” process. And that $2 is not kicked up to anyone in the Bitcoin world so it doesn’t even remotely fit the definition of a Ponzi Scheme.

You’re having an off couple of days here BTM. Are you hitting the eggnog really hard or something?

 

[P@triot]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

Believe what you want. Do you know anybody who uses to buy things on a regular basis? Let me see you try to do all your Christmas shopping with it or pay your taxes.

I believed reality - why don’t you? I believe definitions - why don’t you?

And the ability to do “all” Christmas shopping is not a criteria for a currency.

 

[P@triot]

It’s not a currency according to any government.

That’s the entire point...

 

[P@triot]

Trump calls himself a Republican, so does John McCain, but neither is a conservative in my eyes.

I’ll just leave that one hanging out there while everyone enjoys the irony...

 

[P@triot]

Ahh, so because the description contains currency you automatically believe that means it is a true currency. Trump calls himself a Republican, so does John McCain, but neither is a conservative in my eyes. Rachel Maddow calls himself a woman and well......you get the point.

And you miss the point...unlike the examples you cited, Bitcoin did not dub itself a currency. Society did. Sorry, not sorry that you don’t like the reality that it is a currency recognized around the world.

 

[P@triot]

Let me see you try to do all your Christmas shopping with it or pay your taxes.

This might sting a little BTM, but facts are important. You can not only easily do ALL of your Christmas shopping using Bitcoin, you could actually live exclusively off of Bitcoin. Here are some of the corporate giants that accept Bitcoin. Complete lists included in the links below, my friend...

• Microsoft

• Subway

• Bloomberg

• Mint

• Lions Gate Films

• Republican Party

• Tesla

Who Accepts Bitcoins As Payment? List of Companies

Big Companies that Accept Bitcoin

 

[BuckToothMoron]

According to Morgan Stanley data, the total energy consumption of the bitcoin network consumes as much electricity as 2 million U.S. homes.

Idiotic again. You clearly have no idea what a Ponzi Scheme is (hint: it is not the local public utility receiving money for the product they provided ).

Furthermore....the “Bitcoin network” is worldwide. Any one person might spend an additional $2 a year in the “mining” process. And that $2 is not kicked up to anyone in the Bitcoin world so it doesn’t even remotely fit the definition of a Ponzi Scheme.

You’re having an off couple of days here BTM. Are you hitting the eggnog really hard or something?

You’re responding to the wrong post. I m not the one who called it a Ponzi Scheme. I am the one who knows it’s not a real currency. I am the one who knows it is more likely to become worthless before it becomes a real currency.

 

[BuckToothMoron]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

Believe what you want. Do you know anybody who uses to buy things on a regular basis? Let me see you try to do all your Christmas shopping with it or pay your taxes.

I believed reality - why don’t you? I believe definitions - why don’t you?

And the ability to do “all” Christmas shopping is not a criteria for a currency.

Except virtually everyone uses real currency to Christmas shop, buy groceries, buy gas, pay bills, or buy tickets to a sporting event. Let me know when Amazon or Walmart accepts your bitcoin, then we’ll talk about it being a currency. Until then, its A block chain bubble.

 

[BuckToothMoron]

Let me see you try to do all your Christmas shopping with it or pay your taxes.

This might sting a little BTM, but facts are important. You can not only easily do ALL of your Christmas shopping using Bitcoin, you could actually live exclusively off of Bitcoin. Here are some of the corporate giants that accept Bitcoin. Complete lists included in the links below, my friend...

• Microsoft

• Subway

• Bloomberg

• Mint

• Lions Gate Films

• Republican Party

• Tesla

Who Accepts Bitcoins As Payment? List of Companies

Big Companies that Accept Bitcoin

One little problem sport. Hardly anybody uses BTC to buy things. You can probably count on one hand how many Tesla’s have been bought with a bitcoin. And if you do buy things with it, then you can expect to get a bigger bill from your accountant. Seriously, climb out of the fairy tree and face reality.

But crypto currencies are not like real dollars. The IRS considers crypto currencies to be a form of property, which means that every crypto currency transaction, no matter how small, triggers a separate tax gain or loss. So, the seemingly casual nature in which one might exchange Bitcoins or other virtual currencies for everyday items could leave users and businesses with untold tax liabilities and a record-keeping nightmare, depending on the frequency with which they are used.

 

[P@triot]

Let me know when Amazon or Walmart accepts your bitcoin

Why do you move the goalposts every time you are proven wrong? First you state it wasn’t “currency”. When I showed you the definition of Bitcoin (accepted by the entire planet) was “currency” you moved the goalposts and stated “yeah...well...you can’t do your Christmas shopping with it”. When I proved you could do your entire Christmas shopping with it, you moved the goalposts yet again to freaking Walmart. So now something is only currency in your mind if Walmart accepts it?

You’re immature. Your child-like ego can’t get you to admit you were wrong and you’re too proud to walk away...so now you sit here and argue against reality like an idiot. Bitcoin is currency. That’s a fact. It’s accepted by major corporations around the world like Microsoft and Subway. That’s a fact. And you need to grow up and just admit when you were wrong. That too is a fact.

 

[Redfish]

Let me know when Amazon or Walmart accepts your bitcoin

Why do you move the goalposts every time you are proven wrong? First you States it wasn’t “currency”. When I showed you the definition of Bitcoin (accepted by the entire planet) was “currency” you moved the goalposts and stated “yeah...well...you can’t do your Christmas shopping with it”. When I proved you could do your entire Christmas shopping with it, you moved the goalposts yet again to freaking Walmart. So now something is only currency in your mind if Walmart accepts it?

You’re immature. Your child-like ego can’t get you to admit you were wrong and you’re too proud to walk away...so now you sit here and argue against reality like an idiot. Bitcoin sim currency. That’s a fact. It’s accepte by major corporations around the world like Microsoft and Subway. That’s a fact. And you need to grow up and just admit when you were wrong. That too is a fact.

I usually agree with you, but you are simply wrong on this one.