So No One is Going to Talk About BitCoin Folding huh?

[NightFox]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

 

[jillian]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

psssssst…. the full faith and credit of the US government is behind our dollars… that is why it is THE currency.

no matter how much rightwingnuts try to destroy its value

 

[KevinWestern]

I don't own any bitcoin, however I think it's a neat idea. It's a currency just like our dollar that people (seem) to give some value, so if individuals want to trade it what's the problem exactly? Why knock it? That's all currency is - a store of value. There's absolutely nothing backing the dollar anymore except a government that has about $17 trillion of debt sitting on its shoulder.

Also, consider this - Bitcoin can be transferred user to user instantly w/no third party, whereas you must use an institution like Chase bank to transfer a dollar to your family in India - for example. The going rate is about 30% to transfer money internationally, so imagine the difference of someone being able to send that full $10,000 vs the shaved $7,000.

Again, it's kinda cool; why knock it?

Paypal is 3rd party, but I can send money to family via Paypal for no cost to either me or them.

Can you transact in a business setting with individuals in France via paypal for free? You can with Bitcoin...

 

[KevinWestern]

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

psssssst…. the full faith and credit of the US government is behind our dollars… that is why it is THE currency.

no matter how much rightwingnuts try to destroy its value

The same government has a 5% approval rating, recently shut itself down because it couldn't agree on even the simplest of tasks, is sitting on $17 trillion worth of debt and no budget passed in over 5 years, and has been printing money like crazy? That one, lol?

Not to knock our government but if they don't change something soon this "faith and credit" your talking about isn't going to mean a thing. I say lets start discussing some plan B's.

 

[LOki]

 

[KevinWestern]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

How do you know TakeAStepBack didn't since sell some of those coins he bought at $50/apiece FOR real USD, lol?

The current bitcoin value is around $500 right now, and there are many, many people willing to pay those prices (as I've seen on ebay). If he bought ten at $50 and sold them back at $500 he would have made a $4,500 profit.

 

[ClosedCaption]

Someone paid $50k for a phone with the game Flappy Bird on it too.

 

[KevinWestern]

Someone paid $50k for a phone with the game Flappy Bird on it too.

Lol what does that even mean?

 

[NightFox]

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

psssssst…. the full faith and credit of the US government is behind our dollars… that is why it is THE currency.

no matter how much rightwingnuts try to destroy its value

LOL, yeah the "full faith and credit" of the Weimar Republic was behind the Mark too .... I'm constantly amazed at how vehemently some people defend the illusions you've been force fed (to the point where you feel the need to call anybody that dares challenge the rationality of them names, seriously GROW UP), especially given the fact your hard earned currency is being devalued every second of every day before your very eyes by the very people that spin the fairy tales you so readily buy.

"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered" -- Thomas Jefferson

 

[NightFox]

Someone paid $50k for a phone with the game Flappy Bird on it too.

Lol what does that even mean?

Good question, for $50K I would expect a phone that I can talk to the crew of the U.S.S. Enterprise with ........

"Beam me up Scotty, there's no intelligent life on this planet"

 

[alan1]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

Bitcoins were sold for Dollars, Euros, Yuan, Yen, Rupees and others.
Like I said, wish I'd of thought of it.

 

[alan1]

I don't own any bitcoin, however I think it's a neat idea. It's a currency just like our dollar that people (seem) to give some value, so if individuals want to trade it what's the problem exactly? Why knock it? That's all currency is - a store of value. There's absolutely nothing backing the dollar anymore except a government that has about $17 trillion of debt sitting on its shoulder.

Also, consider this - Bitcoin can be transferred user to user instantly w/no third party, whereas you must use an institution like Chase bank to transfer a dollar to your family in India - for example. The going rate is about 30% to transfer money internationally, so imagine the difference of someone being able to send that full $10,000 vs the shaved $7,000.

Again, it's kinda cool; why knock it?

Paypal is 3rd party, but I can send money to family via Paypal for no cost to either me or them.

Can you transact in a business setting with individuals in France via paypal for free? You can with Bitcoin...

I specifically said transact with family for free.
The last transaction I had on Paypal with somebody from France, the person in France paid the fee because they weren't a family member.

 

[asterism]

Seems like a libertarian dream until it all went to hell.

Every once in a while — most recently with the collapse of online exchange site Mt Gox — the world starts paying attention to Bitcoin, the hacker-project-cum-digital-currency that has garnered the love of a certain subset of people on the internet. Who are those people? According to an online poll from Simulacrum, the average user is a 32.1-year-old libertarian male. By users’ accounts, those men are mostly white.

Breaking that down, about 95 percent of Bitcoin users are men, about 61 percent say they’re not religious, and about 44 percent describe themselves as “libertarian / anarcho-capitalist.”

Now they are broke after Bitcoin folded. Does anyone have an opinion on this? Seems like they could've used some sort of protection.

Who is "broke?" Most of them got the assets by mining and trading, not buying.

 

[alan1]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

How do you know TakeAStepBack didn't since sell some of those coins he bought at $50/apiece FOR real USD, lol?

The current bitcoin value is around $500 right now, and there are many, many people willing to pay those prices (as I've seen on ebay). If he bought ten at $50 and sold them back at $500 he would have made a $4,500 profit.

Uhmm, maybe because bitcoins were invented out of thin air and sold for commonly used and traded currency. The person that invented the nebulous bitcoins sold something that initially had no intrinsic value, so he/she made a much better profit than TakeAStepBack. It's a brilliant concept.

 

[NightFox]

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

Bitcoins were sold for Dollars, Euros, Yuan, Yen, Rupees and others.
Like I said, wish I'd of thought of it.

What you want to speculate on the differentials between fiat currencies? allow me to introduce you to FOREX, the idea has only been around for 3000 years, have at it and good luck.

"I've listened to preachers, I've listened to fools, I've watched all the dropouts....Who make their own rules. One person conditioned to rule and control, the media sells it and you live the role" -- Ozzy Osbourne, Crazy Train

 

[Quantum Windbag]

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

psssssst…. the full faith and credit of the US government is behind our dollars… that is why it is THE currency.

no matter how much rightwingnuts try to destroy its value

Not really.

The full faith and credit of the US is behind our debt, not our currency. The fact that Euros are worth more than dollars is proof of how much our debt is worth.

 

[Politico]

You can't protect stupid.

 

[bripat9643]

Seems like a libertarian dream until it all went to hell.

Every once in a while — most recently with the collapse of online exchange site Mt Gox — the world starts paying attention to Bitcoin, the hacker-project-cum-digital-currency that has garnered the love of a certain subset of people on the internet. Who are those people? According to an online poll from Simulacrum, the average user is a 32.1-year-old libertarian male. By users’ accounts, those men are mostly white.

Breaking that down, about 95 percent of Bitcoin users are men, about 61 percent say they’re not religious, and about 44 percent describe themselves as “libertarian / anarcho-capitalist.”

Now they are broke after Bitcoin folded. Does anyone have an opinion on this? Seems like they could've used some sort of protection.

Libertarians believe in hard money, not fairytale money that's nothing but some bits in a computer. It may have attracted some libertarians because it was an alternative to the government money monopoly. Anyone who has ever tried to create a real alternative currency has been shut down by the feds and arrested.

 

[bripat9643]

REAL money? surely you're not referring to the fiat currency commonly known as dollars that the Fed creates out of thin air, right?

"At the end fiat money returns to its inner value--zero" -- Voltaire

psssssst…. the full faith and credit of the US government is behind our dollars… that is why it is THE currency.

no matter how much rightwingnuts try to destroy its value

LOL, yeah the "full faith and credit" of the Weimar Republic was behind the Mark too .... I'm constantly amazed at how vehemently some people defend the illusions you've been force fed (to the point where you feel the need to call anybody that dares challenge the rationality of them names, seriously GROW UP), especially given the fact your hard earned currency is being devalued every second of every day before your very eyes by the very people that spin the fairy tales you so readily buy.

"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered" -- Thomas Jefferson

Jillian isn't known for her good judgment.

 

[PaintMyHouse]

You can't protect stupid.

Oh you can to a point, but it's a lot of work. The question is would be would we better off if we didn't? If you took your hairdryer into the tub and instead of tripping the circuit it tripped you, does that mean we'd have a few less stupid children in the world? Something to ponder.