It is time to declare war on Overclock.net

[r0ach]

As a tech site, overclock.net covered the news of Steam accepting Bitcoin.  

A college professor of economics attempted to crash the party by saying he's a teacher and that only things like fiat can have value (and later hinted gold *might* have some type of value):

I teach economics.. fiat currency is backed by the country and/or central bank issuing the currency. I literally said that in my post.


This is me 5 minutes ago, I had a student take it since you guys are such keyboard warriors what are your credentials in economics and finance?

As you can guess, there were a few poor attempts to debate him on the subject until I put up the establishment destroying post that follows:

http://pastebin.com/zepT5XCx

The post was completely ignored by the economics professor, as he instead began replying to softball comments that were the equivalent of "why is gold yellow?".  The post, the only one in the thread that puts up any real fight against him is then mysteriously deleted out of the blue with no explanation less than 12 hours later by overclock.net forum moderators.  Establishment economics professor wins!


Post in question below:

Your understanding of money is honestly child-like. I talk to PhD economists all the time (that can't forecast their way out of a paper bag), so please, don't even try to intimidate me with claims of being a teacher. First of all, money is an abstract concept. It's an IOU to provide a good or service at a future date. This means all money is inherently debt based with pyramid and Ponzi elements to it, because at any given time, I can just boycott your currency in lieu of another one, or your govt backing it can just go south. Now you're left holding the bag, the trademark "unsustainable" element of any type of scam.

Get it through your head. Repeat after me. Anything used as currency on the planet is inherently an unsustainable scam. The only example which isn't one is completely theoretical. It's the form of currency used by the robots in the transformers cartoon called "energon". Blocks of pure energy that can be redeemed at face value at any time regardless of externalities.

The overwhelming majority of the price of gold is derived from network effect, not intrinsic value. It's so called "instrinsic value" is next to nothing in comparison. Not that intrinsic value really even exists in the first place. But just in this case, we'll pretend it does. The gap between the two values is so large for gold, if you believe the price of gold is only derived from "intrinsic value", you would literally be scamming people in the process of selling it at spot price, ripping them off for 10x or more than they should be paying. But they aren't paying for intrinsic value, they're paying for network effect, which lies somewhere between a mass delusion of conformity, to an economic motive to avoid slippage that creates a captive audience.

As for gold, every gold backed currency has failed because it's no different than fiat when used in that manner. The currency is just devalued as usual until one dollar is worth one atom of gold. The only way gold has any use is being circulated with the native coins in an economy. The only problem there is, gold has awful granularity, high friction in use, and counterparty risk, unless you plan to build your own gold vault and guard it yourself all day.

Gold has continuously failed as a currency due to these reasons. It can't be used natively in anything but a stone age economy, so they had to put it in vaults and issue IOUs, rendering it's existence pointless. It's one saving grace is a reorginzation of the financial structure after the bankers go bad, scam everyone, then the angry villagers kill them and find out just how much gold is really left.

As stated earlier, both gold and Bitcoin offer an economic Nash equilibrium for trade between individuals or nations since they can both be acquired on generally all continents (bitcoin is an open entropy system) and nobody really has a monopoly on them. The difference is, gold just doesn't work in a modern civilization while Bitcoin does. If you believe the economy will crash and send us back to the dark ages, buy gold. If you think there will be some kind of civilization left standing, buy Bitcoin. Or just buy both to hedge.

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[Quartx]

You know sometimes certain people are just resistant to change. The only time they change or want to is when it is inevitable. Much like how everyone though science was taboo and many were burned at the stake for witch practise

[HostFat]

Welcome to censorship.

You should just post it again and make a screenshot of it.

[The Sceptical Chymist]

You know what they say,  you ask 10 different economists a question and you get 11 different answers.  This guy disagrees with you, but he'll either see the error of his ways or he won't.   It matters very little either way.  Btw I'm not a tech nerd and know nothing about overclock.

[richkellj]

You know sometimes certain people are just resistant to change. The only time they change or want to is when it is inevitable. Much like how everyone though science was taboo and many were burned at the stake for witch practise

Change is difficult to adopt.
We should have the guts to accept the change

[silentkiller]

You know sometimes certain people are just resistant to change. The only time they change or want to is when it is inevitable. Much like how everyone though science was taboo and many were burned at the stake for witch practise

Change is difficult to adopt.
We should have the guts to accept the change

Youre right, go with the flow,, dont get stuck,  even climate changes, so theres nothing especial about that change, better to accept it.

[Quartx]

You know sometimes certain people are just resistant to change. The only time they change or want to is when it is inevitable. Much like how everyone though science was taboo and many were burned at the stake for witch practise

Change is difficult to adopt.
We should have the guts to accept the change

Youre right, go with the flow,, dont get stuck,  even climate changes, so theres nothing especial about that change, better to accept it.

I heard climate change is a conspiracy by the government xD

[finkelsteinMonster]

...The post was completely ignored < snip >
Post in question below:

Your understanding of money is honestly child-like.

...and already I want to slap you. You're talking to a professor, an adult, your better. Not with your pimp in some piss-drenched back alley.
Learn some manners, and people might start talking to you.

I talk to PhD economists all the time < snip>

Riiight. And come here to whine when they ignore you.

Pro tip: Don't try to educate economics professors when everything you know about economics you gleaned from zerohedge and stormfront.

[Wendigo]

It's false to think that only fiat backed by the government can have value. By the way the US Dollar is backed by literally thin air as the US Gold reserve doesn't have enough gold in their vaults to cover anything. Everything that we use in a trade can have value, for example on the Steam market every skin and item can have value which is not backed by the government or a central bank but we continue to trade them so who cares if Bitcoin is not recognized by the government it will still have value no matter what.

[r0ach]

...The post was completely ignored < snip >
Post in question below:

Your understanding of money is honestly child-like.

...and already I want to slap you. You're talking to a professor, an adult, your better. Not with your pimp in some piss-drenched back alley.
Learn some manners, and people might start talking to you.

It looks like you're confused.  As you can see from that guy's quote, he approached the situation of Bitcoin in a holier than thou manner, assuming that because he has a job as an economics teacher, he's automatically right on any subject involving money, and that he's written off the subject completely and so should you.  The person in the picture is probably around the same age or younger than me, so pulling some type of "respect your elders" jibberish is nonsense.  It's not a 200 year old kung fu instructor.  It's a fractional reserve, fiat banking, establishment shill, who is trying to coerce you into a system of enslavement by central bankers.

[finkelsteinMonster]

<>  It's a fractional reserve, fiat banking, establishment shill, who is trying to coerce you into a system of enslavement by central bankers.

And because this "establishment shill" ignored your ravings "tri[ed] to coerce you into a system of enslavement by central bankers," you want to "declare war on Overclock.net"?! An overclocking site? No wonder people avoid bitcoiners.

[r0ach]

<>  It's a fractional reserve, fiat banking, establishment shill, who is trying to coerce you into a system of enslavement by central bankers.

And because this "establishment shill" ignored your ravings "tri[ed] to coerce you into a system of enslavement by central bankers," you want to "declare war on Overclock.net"?! An overclocking site? No wonder people avoid bitcoiners.

You're one of those alias "Lambchop" spam accounts that's already been banned at least 100 times, so please, stop pretending you have no nefarious motives here.  You've made spam accounts for years claiming the Bitcoin price will crash to 0 any second.  It looks like that spam was incorrect.

[finkelsteinMonster]

^^
Bro, you're so paranoid you're becoming a danger to yourself and others.
You think everyone is an establishment/bankster/Zionist shill, and you're asking us to wage war on a popular overclocking website because an adult has politely ignored your angsty ass?

[Andre#]

I tried to give you a hand.

http://www.overclock.net/t/1598146/pcgamer-steam-is-reportedly-planning-to-accept-bitcoin/60#post_25116890

[Denker]

I read there last night and you were right roach.
That Prof. was a complete idiot and his posts seemed to be very arrogant imo.
I would say forget that idiot and that overclock deleted your post.
Bitcoin is coming and they can not stop it. Let them bath im their delusion.

[Carlton Banks]

Your retort was excellent r0ach, right on the money . Forget about the war though, people who seek subjugation will naturally assume that position regardless of any benefit that freedom has to offer them. They like being dependent, it makes life easier when you don't have to do all that pesky thinking.

[franky1]

love the reply.

and to add,
if the professor is such a smart economics expert. why is he working in a college? and not for the government/financial power house.

anyone can get a PHD these days especially if they have college professors such as that guy.
i feel sorry for not only his students. but any employer that take on the students that are taught by him.

[Jasad]

As a tech site, overclock.net covered the news of Steam accepting Bitcoin.  

A college professor of economics attempted to crash the party by saying he's a teacher and that only things like fiat can have value (and later hinted gold *might* have some type of value):

I teach economics.. fiat currency is backed by the country and/or central bank issuing the currency. I literally said that in my post.


This is me 5 minutes ago, I had a student take it since you guys are such keyboard warriors what are your credentials in economics and finance?

As you can guess, there were a few poor attempts to debate him on the subject until I put up the establishment destroying post that follows:

http://pastebin.com/zepT5XCx

The post was completely ignored by the economics professor, as he instead began replying to softball comments that were the equivalent of "why is gold yellow?".  The post, the only one in the thread that puts up any real fight against him is then mysteriously deleted out of the blue with no explanation less than 12 hours later by overclock.net forum moderators.  Establishment economics professor wins!


Post in question below:

Your understanding of money is honestly child-like. I talk to PhD economists all the time (that can't forecast their way out of a paper bag), so please, don't even try to intimidate me with claims of being a teacher. First of all, money is an abstract concept. It's an IOU to provide a good or service at a future date. This means all money is inherently debt based with pyramid and Ponzi elements to it, because at any given time, I can just boycott your currency in lieu of another one, or your govt backing it can just go south. Now you're left holding the bag, the trademark "unsustainable" element of any type of scam.

Get it through your head. Repeat after me. Anything used as currency on the planet is inherently an unsustainable scam. The only example which isn't one is completely theoretical. It's the form of currency used by the robots in the transformers cartoon called "energon". Blocks of pure energy that can be redeemed at face value at any time regardless of externalities.

The overwhelming majority of the price of gold is derived from network effect, not intrinsic value. It's so called "instrinsic value" is next to nothing in comparison. Not that intrinsic value really even exists in the first place. But just in this case, we'll pretend it does. The gap between the two values is so large for gold, if you believe the price of gold is only derived from "intrinsic value", you would literally be scamming people in the process of selling it at spot price, ripping them off for 10x or more than they should be paying. But they aren't paying for intrinsic value, they're paying for network effect, which lies somewhere between a mass delusion of conformity, to an economic motive to avoid slippage that creates a captive audience.

As for gold, every gold backed currency has failed because it's no different than fiat when used in that manner. The currency is just devalued as usual until one dollar is worth one atom of gold. The only way gold has any use is being circulated with the native coins in an economy. The only problem there is, gold has awful granularity, high friction in use, and counterparty risk, unless you plan to build your own gold vault and guard it yourself all day.

Gold has continuously failed as a currency due to these reasons. It can't be used natively in anything but a stone age economy, so they had to put it in vaults and issue IOUs, rendering it's existence pointless. It's one saving grace is a reorginzation of the financial structure after the bankers go bad, scam everyone, then the angry villagers kill them and find out just how much gold is really left.

As stated earlier, both gold and Bitcoin offer an economic Nash equilibrium for trade between individuals or nations since they can both be acquired on generally all continents (bitcoin is an open entropy system) and nobody really has a monopoly on them. The difference is, gold just doesn't work in a modern civilization while Bitcoin does. If you believe the economy will crash and send us back to the dark ages, buy gold. If you think there will be some kind of civilization left standing, buy Bitcoin. Or just buy both to hedge.

An overclocking forum devoted to maximizing the performance of graphics cards, CPUs, motherboards, RAM and everything else found inside your computer

i never hear about this before,but when i googling,i just found this,can you guys tell me about what happen excatly here?
and is that wite related with bitcoin?

[Lethn]

If Bitcoin has no value, why can I buy games from steam with it?

[Carlton Banks]

people who seek subjugation will naturally assume that position regardless of any benefit that freedom has to offer them. They like being dependent, it makes life easier when you don't have to do all that pesky thinking.

Speaking of willing victims, I present to you the words of Bootlicker1:

if the professor is such a smart economics expert. why is he working in a college? and not for the government/financial power house.