Bitcoin Talk

[Douglas.Curtis]

"Here is the issue, though; true money requires intrinsic value. Cryptocurrencies have no intrinsic value. They are conjured from nothing by programmers, they are "mined" in a virtual mine created from nothing, and they have no unique aspects that make them rare or tangibly useful.

This was true when bitcoin and other proof of work (pow) coins were the only "cryptocurrency" around. As I've pointed out a few times, there are now coins which are directly tied to services of value. Baby step services they may be, their technological advances are nothing to sneeze at. Crypto is here to stay, regardless of the education of the public regarding currency and economics.

 

[yesum]

I hear you Scout but at this time paper currency does not really have 'intrinsic value'. The US is Trillions of dollars in debt and is the currency favorite of the world.

It is not backed by gold now. It is lacking in real value almost as much as bitcoin is. Neither is really worth anything other than the expected value placed on them by the other party in a transaction.

But yeah, most all of the coins are going to fail and soon. bitcoin is way to volatile right now to qualify as a currency to value and have trust in. It does however go up over time as opposed to say a African note where one million whatevers, is the same as a US dollar.

 

[Stickybred420]

the zeitgeist addendum is a great film on how federal reserves came to be and work today. lots of other good info in there too.

 

[englishrick]

it is physically impossible for the USA gov to print the money they have digitally created on paper and issued as ious to creditors...

they can't print it .. oh shit

bitcoin

 

[englishrick]

central banking vs decentralized banking

your choice

 

[englishrick]

have made incredible money today just from the level of Fungibility in my assets... I moved from bitcoin to ripple and hedged not only on the dollar but on bitcoin too

100% return in 24hours...and fungible it is again..an again.. .like Tarzan.. fungibility in the jungle

 

[bestothebest]

I am soooo mad. A week ago, I was like- wow ripple is going to skyrocket. Had a little bit of doubt and didnt buy. Now what do you know, up from 21 cents to 86. 400% increase that I missed out on. Soo pissed.

 

[JVonChron]

what are the tax implications on the back end if you try to cash out on these coins? I dont really trust the electronics side of the matter. if there is an emp what happens? someone can always hack the exchanges too. I just wouldnt hold savings in crypto coin, i would use it as a means to make the money and cash it out and then turn it into bullion if i wanted to hold onto it as savings. my buddy bought litecoins early this week and says he made 5k in like 2 days.

 

[Rubber Chicken]

I am soooo mad. A week ago, I was like- wow ripple is going to skyrocket. Had a little bit of doubt and didnt buy. Now what do you know, up from 21 cents to 86. 400% increase that I missed out on. Soo pissed.

Whos to say it wont do the same again?

 

[DocTim420]

Pop quiz:

You are negotiating your employment contract and the payment options for your salary are: USD, EUR or Bitcoin. Which one do you select?

Is your answer the same if...at the time you signed the contract, 1 Bitcoin = $1,000 USD?

Is your answer the same if...at the time you signed the contract, 1 Bitcoin = $16,000 USD?

IMO, as long as Crypto-currency uses the value of USD to determine it's "street value"--it will be always dependent on the full faith of the USD for it's own existence (attached like a Siamese conjoined twin). Can the Bitcoin prosper without USD? I don't think so. Can the USD prosper without Bitcoin...hmmm!

 

[kopite]

Finally found the crypto for me - Wankcoin!

 

[MJPassion]

the zeitgeist addendum is a great film on how federal reserves came to be and work today. lots of other good info in there too.

“The Creature From Jekyll Island”
The best historical account on banking I’ve read.

it is physically impossible for the USA gov to print the money they have digitally created on paper and issued as ious to creditors...

they can't print it .. oh shit

bitcoin

‘Tis a known fact!

Pop quiz:

You are negotiating your employment contract and the payment options for your salary are: USD, EUR or Bitcoin. Which one do you select?

Is your answer the same if...at the time you signed the contract, 1 Bitcoin = $1,000 USD?

Is your answer the same if...at the time you signed the contract, 1 Bitcoin = $16,000 USD?

IMO, as long as Crypto-currency uses the value of USD to determine it's "street value"--it will be always dependent on the full faith of the USD for it's own existence (attached like a Siamese conjoined twin). Can the Bitcoin prosper without USD? I don't think so. Can the USD prosper without Bitcoin...hmmm!

Volatility dictates using a more stable medium.
What does one do when all currency forms lose their stability?
Pretty sure bitcoin and crypto currencies are exactly as depicted earlier (a means to the end).

In the mean time, ride the wave but, get off before getting pushed under into the coral reef!

 

[englishrick]

I am thoroughly expect pornhub to do an ico at some point creating a "wankers" coin, with a throbbing member marketcap. seriously tho.

 

[englishrick]

ripple was a good ride this last week ..any others hodling since the drop from 9? im keeping my rxp till 2.65 then pop and buy back in ...im on iota and bitcoin today too waiting for the rise due to cme future rush and an iota recovery. litecoin set to rise today too. I should probably buy more .litecoin had a little pump this earlier but more to come soon. dash is wrestling with the 1000 mark but looks ready to pump..im wating for it to kiss a major mile stone near 1000 then buy the teacup and wait for the breakout

 

[englishrick]

etherium classic is having a good day. probably undervalued too ...

anyone interested in vertcoin ..?

also ...i'm looking for developers to link up with .if any of you guys want to get working on this?? i have a company that would love to have you on board.anyone good with swift and is interested in dapps android and Apple apps ..anyone with a good grounding in android studio . visual studio . please get in touch .payment in btc. eth. dash . litecoin..whatever even GBP at a push. LinkedIn would be a requirement too but that's a later date. trust and interest are the main prerequisites for joining the little team of enthusiasts.

 

[englishrick]

 

[englishrick]

looking set to shoot soon I think...

watch for the teacup and brake out

 

[englishrick]

 

[englishrick]

Quantum is doing really well today too. last 24h volume is 51% increase...so if you would have put 20 you now would have 30..an the next time 45. an the next

compound interest..the 8th wonder of the world. people who understand it get it. people who don't pay the people that do

 

[englishrick]

trading defetes the need for bitcoin to always rise ..once new functions are introduced into this new digital asset trading market you will see a new class rise and become the new standard in asset fungibility