BitCoin
December 25th, 2024 at 7:56:32 PM
permalink
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?
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?
It’s a dog eat dog world.
…Or maybe it’s the other way around!
December 25th, 2024 at 8:01:13 PM
permalink
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.
"It's not called gambling if the math is on your side."
December 25th, 2024 at 8:06:42 PM
permalink
Oops.
Last edited by: Greasyjohn on Dec 25, 2024
December 25th, 2024 at 9:12:25 PM
permalink
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.Quote: EvenBobYou 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
Run, do not walk, away from his advice.
I hope you had a Merry Kitty Christmas Bob.
Last edited by: unnamed administrator on Dec 25, 2024
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
December 25th, 2024 at 9:14:07 PM
permalink
Quote: AxelWolfYou 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.Quote: EvenBobYou 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
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.
Last edited by: unnamed administrator on Dec 25, 2024
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
December 25th, 2024 at 9:31:10 PM
permalink
Edits for formatting (/q tag) -D
May the cards fall in your favor.
December 25th, 2024 at 9:48:37 PM
permalink
Quote: AxelWolfQuote: AxelWolfYou 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.Quote: EvenBobYou 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
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."
"It's not called gambling if the math is on your side."
December 26th, 2024 at 12:41:24 AM
permalink
Quote: EvenBobQuote: AxelWolfQuote: AxelWolfYou 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.Quote: EvenBobYou 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
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.
For Whom the bus tolls; The bus tolls for thee
December 26th, 2024 at 2:06:08 AM
permalink
Quote: camaplFor 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)
December 26th, 2024 at 2:06:26 AM
permalink
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.
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.
December 26th, 2024 at 2:11:06 AM
permalink
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.
December 27th, 2024 at 6:07:40 AM
permalink
Probably can't really discuss this here because of rules. But I'll post the link
https://www.msn.com/en-us/money/other/the-myths-of-ayn-rand-pose-real-threats-to-democracy/ar-AA1wvQQo?ocid=BingNewsSerp
the gist of it quote "Engaged investors and governance experts like me generally loathe dual-class shares "
https://www.msn.com/en-us/money/other/the-myths-of-ayn-rand-pose-real-threats-to-democracy/ar-AA1wvQQo?ocid=BingNewsSerp
the gist of it quote "Engaged investors and governance experts like me generally loathe dual-class shares "
Sanitized for Your Protection
March 3rd, 2025 at 10:02:38 AM
permalink
Went down to 80k for a brief period.
Sanitized for Your Protection
March 3rd, 2025 at 8:51:13 PM
permalink
Quote: EvenBobBeanie 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."
link to original post
We don't agree often, but on this I think you're absolutely right. Couldn't have said it better myself.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
March 4th, 2025 at 1:11:55 AM
permalink
Quote: darkozQuote: EvenBobQuote: AxelWolfQuote: AxelWolfYou 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.Quote: EvenBobYou 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
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.
link to original post
Fortunes were built off of Sears Robuck stocks, and its dividends supported hundreds of thousands of families from the 1930s through the 1980s. Bitcoin doesn't even produce dividends so your comparison is garbage.
The older I get, the better I recall things that never happened
March 4th, 2025 at 3:06:43 AM
permalink
Quote: billryan
Fortunes were built off of Sears Robuck stocks, and its dividends supported hundreds of thousands of families from the 1930s through the 1980s. Bitcoin doesn't even produce dividends so your comparison is garbage.
link to original post
Fortunes were made from stocks that don't pay dividends too.
I don't understand the animus against it. It's a currency. Almost all of the government currencies can be traded. What's wrong with a non-government currency?
Bitcoin has a market cap of over $1.6T right now, which is larger than the economies of many small countries and it is used by more people than the population of some small countries. What makes it inferior to the currency printed by a monster in a palace? I could trade Venezuelan currency, Iranian currency, currency from any other ridiculous despotism and people might say that's not wise investing but no one would say "Ponzi." Meanwhile Bitcoin is managed and used by peaceful people all over the world, united only by a common vision of financial freedom, and there are those who call it a scam. I'm stumped.
March 4th, 2025 at 3:45:39 AM
permalink
Quote: AutomaticMonkey
I don't understand the animus against it. It's a currency. Almost all of the government currencies can be traded. What's wrong with a non-government currency?
To some, that is what is wrong with it. The modern system is built around the USD and western controlled international banking system. Remember when we locked Russia out of that over Ukraine? If Putin wanted to trade a tanker of oil for 1,000 bitcon, who could stop him? He wants to then trade that bitcoin for say steel, who could stop him?
Smaller scale, the IRS freezes you out of banking. You deal in crypto. They cannot stop you.
Unless a nation goes North Korea and seals itself off from everything, this cannot be stopped.
And that is what scares governments to death.
All animals are equal, but some are more equal than others
March 4th, 2025 at 7:23:18 AM
permalink
Quote: AZDuffmanQuote: AutomaticMonkey
I don't understand the animus against it. It's a currency. Almost all of the government currencies can be traded. What's wrong with a non-government currency?
To some, that is what is wrong with it. The modern system is built around the USD and western controlled international banking system. Remember when we locked Russia out of that over Ukraine? If Putin wanted to trade a tanker of oil for 1,000 bitcon, who could stop him? He wants to then trade that bitcoin for say steel, who could stop him?
Smaller scale, the IRS freezes you out of banking. You deal in crypto. They cannot stop you.
Unless a nation goes North Korea and seals itself off from everything, this cannot be stopped.
And that is what scares governments to death.
link to original post
Bitcoin isn’t so anonymous though. US couldn’t stop it but could know who took the 1,000 bitcoins and apply sanctions to them.
I like a lot of things about Bitcoin, but I also believe that the thing that makes it so secure (energy intensive to lock in blockchain) will end up limiting its usefulness (unless we find cheap, unlimited energy).
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
March 4th, 2025 at 7:32:20 AM
permalink
Quote: unJonQuote: AZDuffmanQuote: AutomaticMonkey
I don't understand the animus against it. It's a currency. Almost all of the government currencies can be traded. What's wrong with a non-government currency?
To some, that is what is wrong with it. The modern system is built around the USD and western controlled international banking system. Remember when we locked Russia out of that over Ukraine? If Putin wanted to trade a tanker of oil for 1,000 bitcon, who could stop him? He wants to then trade that bitcoin for say steel, who could stop him?
Smaller scale, the IRS freezes you out of banking. You deal in crypto. They cannot stop you.
Unless a nation goes North Korea and seals itself off from everything, this cannot be stopped.
And that is what scares governments to death.
link to original post
Bitcoin isn’t so anonymous though. US couldn’t stop it but could know who took the 1,000 bitcoins and apply sanctions to them.
I like a lot of things about Bitcoin, but I also believe that the thing that makes it so secure (energy intensive to lock in blockchain) will end up limiting its usefulness (unless we find cheap, unlimited energy).
link to original post
True enough, but it makes it far easier. And it is not as though Russia has to have their name on the accounts. Easy to launder things. The energy thing is overstated. We use energy to move regular money.
All animals are equal, but some are more equal than others
March 4th, 2025 at 7:35:45 AM
permalink
Quote: unJonQuote: AZDuffmanQuote: AutomaticMonkey
I don't understand the animus against it. It's a currency. Almost all of the government currencies can be traded. What's wrong with a non-government currency?
To some, that is what is wrong with it. The modern system is built around the USD and western controlled international banking system. Remember when we locked Russia out of that over Ukraine? If Putin wanted to trade a tanker of oil for 1,000 bitcon, who could stop him? He wants to then trade that bitcoin for say steel, who could stop him?
Smaller scale, the IRS freezes you out of banking. You deal in crypto. They cannot stop you.
Unless a nation goes North Korea and seals itself off from everything, this cannot be stopped.
And that is what scares governments to death.
link to original post
Bitcoin isn’t so anonymous though. US couldn’t stop it but could know who took the 1,000 bitcoins and apply sanctions to them.
I like a lot of things about Bitcoin, but I also believe that the thing that makes it so secure (energy intensive to lock in blockchain) will end up limiting its usefulness (unless we find cheap, unlimited energy).
link to original post
It depends on what laws are made around it eventually. Because (like a FISA warrant) people don't have the same protections, privacy, they think they have once the government makes an action criminal. You'll be watched, your stuff will be searched, they'll know what's in your refrigerator.
Sanitized for Your Protection
