BitCoin

For those of us who don’t understand BC, would you please elaborate on “everyone benefits”? At first reading, I took that to mean nobody loses money on BC. I doubt that is what you mean…

My question is not an attempt to challenge your or anyone else’s opinion. I’m trying to understand BC from the perspective of those who understand it better than I do. I get the short-term benefits to those who have bought and sold at the right times. I’m more curious about its viability long term. What does the fact that governments around the world are buying in? Do they see it as more than just a short-term investment? How important is it to consider which countries are interested?

You know it's a scam when the person trying to sell you an investment wants you to mortgage your house to pay for it. Run, do not walk, away from him.

Oops.

Quote: EvenBob

You know it's a scam when the person trying to sell you an investment wants you to mortgage your house to pay for it. Run, do not walk, away from him.
link to original post

You know it's a sham when the person trying to tell you an investment sucks and he's been wrong every day for over 10 years meanwhile it went from around 100 to 100k.

Run, do not walk, away from his advice.

I hope you had a Merry Kitty Christmas Bob.

Quote: AxelWolf

Quote: EvenBob

You know it's a scam when the person trying to sell you an investment wants you to mortgage your house to pay for it. Run, do not walk, away from him.
link to original post

You know it's a sham when the person trying to tell you an investment sucks and he's been wrong every day for over 10 years meanwhile it went from around 100 to 100k.

Run, do not walk, away from his advice.

I hope you had a Merry Kitty Christmas Bob.
link to original post

You know it's a sham when the person trying to tell you an investment sucks and he's been wrong every day for over 10 years meanwhile, it went from around 100 to 100k.

Run, do not walk, away from his advice.

I hope you had a Merry Kitty Christmas Bob.

Edits for formatting (/q tag) -D

Quote: AxelWolf

Quote: AxelWolf

Quote: EvenBob

You know it's a scam when the person trying to sell you an investment wants you to mortgage your house to pay for it. Run, do not walk, away from him.
link to original post

You know it's a sham when the person trying to tell you an investment sucks and he's been wrong every day for over 10 years meanwhile it went from around 100 to 100k.

Run, do not walk, away from his advice.

I hope you had a Merry Kitty Christmas Bob.
link to original post

You know it's a sham when the person trying to tell you an investment sucks and he's been wrong every day for over 10 years meanwhile, it went from around 100 to 100k.

Run, do not walk, away from his advice.

I hope you had a Merry Kitty Christmas Bob.
link to original post

Beanie babies were a great investment, until they weren't.

"Bitcoin is a Ponzi scheme on a grand scale. It gives a very unfair advantage to those who entered the pyramid at an early stage - they have to do absolutely nothing at all to see their share balloon as more and more users pile on at the lower tiers. This Ponzi scheme is definitely something for rent-seekers, freeloaders and speculators."

Quote: EvenBob

Quote: AxelWolf

Quote: AxelWolf

Quote: EvenBob

You know it's a scam when the person trying to sell you an investment wants you to mortgage your house to pay for it. Run, do not walk, away from him.
link to original post

You know it's a sham when the person trying to tell you an investment sucks and he's been wrong every day for over 10 years meanwhile it went from around 100 to 100k.

Run, do not walk, away from his advice.

I hope you had a Merry Kitty Christmas Bob.
link to original post

You know it's a sham when the person trying to tell you an investment sucks and he's been wrong every day for over 10 years meanwhile, it went from around 100 to 100k.

Run, do not walk, away from his advice.

I hope you had a Merry Kitty Christmas Bob.
link to original post

Beanie babies were a great investment, until they weren't.


link to original post

So we're Sears Roebuck and Blockbuster video.

Quote: camapl

For those of us who don’t understand BC, would you please elaborate on “everyone benefits”? At first reading, I took that to mean nobody loses money on BC. I doubt that is what you mean…

My question is not an attempt to challenge your or anyone else’s opinion. I’m trying to understand BC from the perspective of those who understand it better than I do. I get the short-term benefits to those who have bought and sold at the right times. I’m more curious about its viability long term. What does the fact that governments around the world are buying in? Do they see it as more than just a short-term investment? How important is it to consider which countries are interested?
link to original post

https://youtu.be/v1jGaSvBzKs?t=1587

Listen from 26:27 to 32:45 to help you understand. It's difficult to understand because you see things from the system you currently live in.

Example of benefitting from joining a network - telephone network vs. telegram.
1 telephone was useless when everyone else used telegram
1000 telephones allowed you to call your grandma (benefit)
8 billion telephones is a world wide communications network (benefit)

Bitcoin network vs. fiat
1 person with bitcoin is useless when everyone else uses fiat
1000 persons with bitcoin is a small group you can trade with (benefit)
8 billion persons using bitcoin is a world wide financial network (benefit)

I was a Bitcoin miner, way back then. Mined around 100 of them. Gold was desired by kings. But unlike kings, no Bitcoin miner ever enslaved men and sent them down into his mine.

Bitcoin is the first soul-backed currency. Unlike the government fiat currencies, which are on the lead standard, backed by the will of governments that will send men with guns to kill you to enforce their laws, Bitcoin is supported by nothing but the desire of those just like me to have Bitcoin, those who have been endowed with free will and a soul by God. It is pure information, thus if a black hole were to absorb the solar system, all gold will be collapsed into the singularity but the Bitcoin blockchain will remain on the event horizon, as information can never be truly lost. Bitcoin is the money of eternity, of infinity, of God.

I used to be crazy. But at the current price of Bitcoin, I am now eccentric.

Quote: EvenBob

"Bitcoin is a Ponzi scheme on a grand scale. It gives a very unfair advantage to those who entered the pyramid at an early stage - they have to do absolutely nothing at all to see their share balloon as more and more users pile on at the lower tiers. This Ponzi scheme is definitely something for rent-seekers, freeloaders and speculators."
link to original post

See, the big flaw in your argument is that the "early bitcoiners" want to go back to the fiat monetary system of counterparty theft and extraction of labor. Why in the hell would we go back to that system? That's backwards thinking. Bitcoin was created for everyone to leave that system. The faster you leave, the faster you benefit.

1 BTC = 1 BTC that saying is for the time where there is no fiat value because Nash cooperation and benefit from Bitcoin has destroyed it.