Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 it's growing internationally, not shrinking. there is a risk with it, sure, but it's not illegally used in plenty of places that aren't the USA. i'm also not quite sure how you "shut it down" either. wealthy people hiding money still happens all throughout the world, and this is a valuable asset to that community. The Chinese can buy bitcoin and sell to zero and it will not cost them a dime. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 That's right. It isn't. A stock is a company with the potential for earnings. This has no earnings potential whatsoever. To compare it to a stock is ridiculous because it is not that legit.You are the one who compared it to a stock lol. It's a form of currency. As I have stated 100 times, the value of all currencies are strictly based on perception at this point. There is nothing of value - unless you consider corporations things of value - backing currencies. This isn't fort knox backed gold. Quote Link to comment Share on other sites More sharing options...
rito Posted May 25, 2017 Report Share Posted May 25, 2017 it's growing internationally, not shrinking. there is a risk with it, sure, but it's not illegally used in plenty of places that aren't the USA. i'm also not quite sure how you "shut it down" either. wealthy people hiding money still happens all throughout the world, and this is a valuable asset to that community. So money laundering, tax evasion, etc. Quote Link to comment Share on other sites More sharing options...
IAG Posted May 25, 2017 Report Share Posted May 25, 2017 That is a real problem. They are all going to sell. Well I won't be selling, I can only speak for myself. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 You are the one who compared it to a stock lol. It's a form of currency. As I have stated 100 times, the value of all currencies are strictly based on perception at this point. There is nothing of value - unless you consider corporations things of value - backing currencies. This isn't fort knox backed gold.It is not a currency. A currency has backing. Bitcoin has faith. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 This is a highly volatile stock with no earnings. It happens over and over and over again. None of you are buying bitcoin because it has a use. You are buying it because it is going up. That's right. It isn't. A stock is a company with the potential for earnings. This has no earnings potential whatsoever. To compare it to a stock is ridiculous because it is not that legit.. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 So money laundering, tax evasion, etc.Sure, but regardless of the reason it maintains value and can hide behind being a payment method accepted globally the more it becomes integrated. Quote Link to comment Share on other sites More sharing options...
HRWager Posted May 25, 2017 Report Share Posted May 25, 2017 All I know is that since this morning Ive lost what amounts to a brand new car in the US so I just poured myself a Vodka and redbull Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 It is not a currency. A currency has backing. Bitcoin has faith.A currency has backing? What? What backing does a currency have? What is backing the US dollar? Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 A currency has backing? What? What backing does a currency have? What is backing the US dollar? The US is going into currency markets and buy the dollar to support it. The Chinese manipulate their currency. A govt can defend its currency. They can also declare war on another currency and if they ever do to bitcoin, they will take it out. Quote Link to comment Share on other sites More sharing options...
rito Posted May 25, 2017 Report Share Posted May 25, 2017 A currency has backing? What? What backing does a currency have? What is backing the US dollar? Quote Link to comment Share on other sites More sharing options...
plommer Posted May 25, 2017 Report Share Posted May 25, 2017 Best description of bitcoin value is this: "its a collectible" There are a finite amount of bitcoins available worldwide and the price is driven by what collectors are willing to pay. Quote Link to comment Share on other sites More sharing options...
IAG Posted May 25, 2017 Report Share Posted May 25, 2017 This is about where it was when I went to bed last night. Still up $64 from 24 hrs ago. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 The US is going into currency markets and buy the dollar to support it. The Chinese manipulate their currency. A govt can defend its currency. They can also declare war on another currency and if they ever do to bitcoin, they will take it out.You have yet to state what backing the US dollar has. Your dollars are not guaranteed at any price or value. Bitcoin can be manipulated just like any other currency. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 You have yet to state what backing the US dollar has. Your dollars are not guaranteed at any price or value. Bitcoin can be manipulated just like any other currency. Tax dollars and the ability to print as much as they want. Drones, stuxxnet, fighter planes, economic sanctions, prison sentences, etc, etc. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 Tax dollars and the ability to print as much as they want. Drones, stuxxnet, fighter planes, economic sanctions, prison sentences, etc, etc.printing more money isn't a positive aspect of it. in fact, the over printing of money in relation to the perceived value causes problems for currencies; so venezuela or others as an example. i would actually argue that the lack of bitcoin actually increases it's demand and price in both the short and long term. the dollar does not have a value backing it to creates it's price. it's value is based solely on the strength of the country/place and perception. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 printing more money isn't a positive aspect of it. in fact, the over printing of money in relation to the perceived value causes problems for currencies; so venezuela or others as an example. i would actually argue that the lack of bitcoin actually increases it's demand and price in both the short and long term. the dollar does not have a value backing it to creates it's price. it's value is based solely on the strength of the country/place and perception. Oh yeah? Money used to be backed by gold. It isn't anymore. You know why? They don't make any more gold. The people wanted more money and if they didn't get it, they were taking over and taking ALL the gold.. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 http://wallpoper.com/images/00/39/70/59/aircraft-carrier_00397059.jpgsure, a military protecting a country helps maintain stability in a currency; no argument there. But there is nothing guaranteeing the value of your dollar, and nothing guaranteeing the currencies longevity. https://www.amazon.com/Sapiens-Humankind-Yuval-Noah-Harari/dp/0062316095 This book has a really interesting segment on money and - basically - the sham that it is. they refer to it as an imagined reality. I'd recommend the book in general; it's really good. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 sure, a military protecting a country helps maintain stability in a currency; no argument there. But there is nothing guaranteeing the value of your dollar, and nothing guaranteeing the currencies longevity. https://www.amazon.com/Sapiens-Humankind-Yuval-Noah-Harari/dp/0062316095 This book has a really interesting segment on money and - basically - the sham that it is. they refer to it as an imagined reality. I'd recommend the book in general; it's really good.Of course, it is. It is a social agreement. And now you think bitcoin is something special? Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 Oh yeah? Money used to be backed by gold. It isn't anymore. You know why? They don't make any more gold. The people wanted more money and if they didn't get it, they were taking over and taking ALL the gold..ok. good luck. my opinion and belief on this has worked out quite well for me so far, and at this point can never result in a negative outcome. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 ok. good luck. my opinion and belief on this has worked out quite well for me so far, and at this point can never result in a negative outcome.Good for you. I can say the same about my gambling. I don't recommend it though. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 Of course, it is. It is a social agreement. And now you think bitcoin is something special?special? where did I say it's something special? If it becomes a globally accepted form of currency it maintains a certain sense of value. the fact that you can buy fractions of it, also helps it in it's continued rise. i have no clue what you're even arguing at this point. you said it was a volatile stock with no backing... then you said anyone who compares it to a stock is ridiculous. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 If it becomes a globally accepted form of currency it maintains a certain sense of value. the fact that you can buy fractions of it, also helps it in it's continued rise. Yeah, right. Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted May 25, 2017 Report Share Posted May 25, 2017 Good for you. I can say the same about my gambling. I don't recommend it though.one is beating a market that is set against you while the other is not attempting to beat a market set against you. they aren't comparable. currencies have always been a difficult market to beat - as anyone who trades in them knows. getting out ahead of a growth does not come around too often in the currencies world; this was a very infrequent opportunity that you have pretended is normal and frequent. Gambling even at a very successful rate might yield you 3-5%. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted May 25, 2017 Report Share Posted May 25, 2017 one is beating a market that is set against you while the other is not attempting to beat a market set against you. they aren't comparable. currencies have always been a difficult market to beat - as anyone who trades in them knows. getting out ahead of a growth does not come around too often in the currencies world; this was a very infrequent opportunity that you have pretended is normal and frequent. Gambling even at a very successful rate might yield you 3-5%. That is called speculation. Bitcoin cannot be based on speculation for it to last. Anything that is soley based on speculation goes to zero. Quote Link to comment Share on other sites More sharing options...
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