Bitcoin was the best-performing currency of 2016

[P@triot]

if its not backed by anything, it wont be worth squat.

The U.S. dollar isn’t even backed by the ink and paper that it is produced from. You have to know that by now - don’t you?

 

[Redfish]

if its not backed by anything, it wont be worth squat.

The U.S. dollar isn’t even backed by the ink and paper that it is produced from. You have to know that by now - don’t you?

it is backed by the US government. Pounds are backed by the UK government, Euros are backed by the EU.

It would be better if they were all backed by gold or silver, but Bitcoin is backed by nothing but greed and speculation. It will crash and burn, but you are free to waste your money if you choose.

 

[P@triot]

if its not backed by anything, it wont be worth squat.

The U.S. dollar isn’t even backed by the ink and paper that it is produced from. You have to know that by now - don’t you?

it is backed by the US government.

The same U.S. government that is $20 trillion in debt? The same U.S. government that you complain about being corrupt? The same U.S. government that intentionally manipulates the currency?

If that is what excites you to have “backing” your currency....thanks but no thanks.

 

[Redfish]

if its not backed by anything, it wont be worth squat.

The U.S. dollar isn’t even backed by the ink and paper that it is produced from. You have to know that by now - don’t you?

it is backed by the US government.

The same U.S. government that is $20 trillion in debt? The same U.S. government that you complain about being corrupt? The same U.S. government that intentionally manipulates the currency?

If that is what excites you to have “backing” your currency....thanks but no thanks.

its better than the greed and speculation that is the only backing of bitcoin. But if you want to put your money in it, go right ahead. I really don't give a shit.

 

[P@triot]

But if you want to put your money in it, go right ahead. I really don't give a shit.

I can tell! You don’t “give a shit” so much that you’ve taken the time to comment dozens of times how much you don’t “give a shit”

 

[Redfish]

But if you want to put your money in it, go right ahead. I really don't give a shit.

I can tell! You don’t “give a shit” so much that you’ve taken the time to comment dozens of times how much you don’t “give a shit”

when people do ignorant things I feel a need to provide information. Maybe that's wrong. I hate to see anyone waste their money, but I really don't give a shit if you do it on bitcoin. As to "dozens of times" not even close.

 

[P@triot]

But if you want to put your money in it, go right ahead. I really don't give a shit.

I can tell! You don’t “give a shit” so much that you’ve taken the time to comment dozens of times how much you don’t “give a shit”

when people do ignorant things I feel a need to provide information.

So by that very nature - you do in fact give a shit. Just as I said.

 

[Redfish]

But if you want to put your money in it, go right ahead. I really don't give a shit.

I can tell! You don’t “give a shit” so much that you’ve taken the time to comment dozens of times how much you don’t “give a shit”

when people do ignorant things I feel a need to provide information.

So by that very nature - you do in fact give a shit. Just as I said.

geez, give it a rest dude. it you think bitcoin is a good deal buy it, put 100% of your money into it. Seriously, I don't care what you do with your money.

 

[Redfish]

Here's how it works:

A lot of monkeys lived near a village.
One day a merchant came to the village to buy these monkeys!

He announced that he will buy the monkeys @ $100 each. $

The villagers thought that this man is mad.

They thought, how can somebody buy stray monkeys at $100 each?

Still, some people caught some monkeys and gave them to this merchant and he gave $100 for each monkey. $
This news spread like wildfire and people caught monkeys and sold them to the merchant.
After a few days, the merchant announced that he will buy monkeys @ $200 each. $$

The lazy villagers ran all around to catch the remaining monkeys!
They sold the remaining monkeys @ $200 each.

Then the merchant announced that he will buy monkeys @ $500 each!
The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got $500 each.
The villagers were waiting anxiously for the next announcement.

Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ $1000 each!

He asked his employee to take care of the monkeys he had already bought. He was alone taking care of all the monkeys in a cage.
The merchant went home.

The villagers were very sad as there were no more monkeys left for them to sell at $1000 each.

Then the employee told them that he will sell some monkeys @ $700 each secretly.

This news spread like wildfire. Since the merchant buys monkeys @ $1000 each, there is still a $300 profit to be made on each monkey.

The next day, villagers made a queue near the monkey cage
The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!

The villagers took care of their monkeys & waited for the merchant to return.

But nobody ever came! ...

Then they ran to the employee...

But he had already left too !

The villagers then realized that they had bought the useless stray monkeys @ $700 each and were now unable to sell them!
The Bitcoin will be the next monkey business. It will make a lot of people bankrupt and a few people filthy rich

 

[Moonglow]

if its not backed by anything, it wont be worth squat.

The U.S. dollar isn’t even backed by the ink and paper that it is produced from. You have to know that by now - don’t you?

Yes it is...ever hear of credit ratings?

 

[P@triot]

geez, give it a rest dude. it you think bitcoin is a good deal buy it, put 100% of your money into it. Seriously, I don't care what you do with your money.

And that is now a clean "bakers-dozen" for the amount of times you claim "not to care" while coming back to weigh in.

 

[P@triot]

Here's how it works:

A lot of monkeys lived near a village.
One day a merchant came to the village to buy these monkeys!

He announced that he will buy the monkeys @ $100 each. $

The villagers thought that this man is mad.

They thought, how can somebody buy stray monkeys at $100 each?

Still, some people caught some monkeys and gave them to this merchant and he gave $100 for each monkey. $
This news spread like wildfire and people caught monkeys and sold them to the merchant.
After a few days, the merchant announced that he will buy monkeys @ $200 each. $$

The lazy villagers ran all around to catch the remaining monkeys!
They sold the remaining monkeys @ $200 each.

Then the merchant announced that he will buy monkeys @ $500 each!
The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got $500 each.
The villagers were waiting anxiously for the next announcement.

Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ $1000 each!

He asked his employee to take care of the monkeys he had already bought. He was alone taking care of all the monkeys in a cage.
The merchant went home.

The villagers were very sad as there were no more monkeys left for them to sell at $1000 each.

Then the employee told them that he will sell some monkeys @ $700 each secretly.

This news spread like wildfire. Since the merchant buys monkeys @ $1000 each, there is still a $300 profit to be made on each monkey.

The next day, villagers made a queue near the monkey cage
The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!

The villagers took care of their monkeys & waited for the merchant to return.

But nobody ever came! ...

Then they ran to the employee...

But he had already left too !

The villagers then realized that they had bought the useless stray monkeys @ $700 each and were now unable to sell them!
The Bitcoin will be the next monkey business. It will make a lot of people bankrupt and a few people filthy rich

Ironically enough, you just described government currency. Absolutely backed by nothing and manipulated by those in power.

 

[P@triot]

it you think bitcoin is a good deal buy it, put 100% of your money into it.

Therein lies the entire problem here. You view Bitcoin as some type of investment. That's not what it was intended to be and that's not where it's true value lies. It was intended to be a currency. A currency that cannot be manipulated by corrupt governments. Why do you find that simple concept so painfully difficult to grasp?

Lets do it one more time to see if we can it through to you: currency not investment

 

[Redfish]

it you think bitcoin is a good deal buy it, put 100% of your money into it.

Therein lies the entire problem here. You view Bitcoin as some type of investment. That's not what it was intended to be and that's not where it's true value lies. It was intended to be a currency. A currency that cannot be manipulated by corrupt governments. Why do you find that simple concept so painfully difficult to grasp?

Lets do it one more time to see if we can it through to you: currency not investment

I fully understand that that is what you think it is, but the vast majority of buyers are buying it because they think the value will appreciate over time, i.e. an investment.

A currency is only as good as what you can buy with it. Try to fill your gas tank and pay with bitcoin, or buy a loaf of bread, or a six pack of beer, or pay your mortgage payment. you cant do it, therefore it is not a medium of exchange (currency) you have been hoodwinked, just like the monkey buyers.

 

[P@triot]

A currency is only as good as what you can buy with it.

And you can literally live off of Bitcoin (as a currency) right now.

Overstock.com (everything from electronics to furniture and more)
Microsoft
Dish (for your entertainment needs)
Subway (for your food)

The list goes on and on and on. You're so freaked out because it's not completely mainstream (yet). So what? That doesn't change the fact that you can literally live off of Bitcoin alone right now.

 

[Redfish]

A currency is only as good as what you can buy with it.

And you can literally live off of Bitcoin (as a currency) right now.

Overstock.com (everything from electronics to furniture and more)
Microsoft
Dish (for your entertainment needs)
Subway (for your food)

The list goes on and on and on. You're so freaked out because it's not completely mainstream (yet). So what? That doesn't change the fact that you can literally live off of Bitcoin alone right now.

I was in a subway yesterday, they did not show prices in bitcoin, only US dollars. You are making that up. But I am done with you an this topic. My monkey example was on point, enjoy your fantasy.

 

[P@triot]

I was in a subway yesterday, they did not show prices in bitcoin, only US dollars. You are making that up.

Let me know when your ready to admit that you’ve been wrong about everything...

8 things you can buy with bitcoins right now

 

[Redfish]

I was in a subway yesterday, they did not show prices in bitcoin, only US dollars. You are making that up.

Let me know when your ready to admit that you’ve been wrong about everything...

8 things you can buy with bitcoins right now

LOL, one subway store out of thousands. you are delusional

 

[JoeNormal]

Technology is the enemy of progressives. It facilitates communication (something they need to prevent if they are to control the narrative as they deeply desire to do), it produces an accurate historical record in the form of video, pictures, comments on social media, etc. (something they need to prevent if they are to control the narrative as they deeply desire to do), and now it is limiting government control over currency (something that has infuriated the left as it is the last vestige of total control that they have left).

Bitcoin Entrepreneur: ‘Something Happens to the Social Fabric When People Cannot Trust Something As Basic As Money’

LOL, progressives create almost all technology. Then after the hard work is done, corporatists swoop in and exploit it.