Don't be sad, bagholders. What's important is that you've tried! 10k by next week, when the ETF launches. 100k by Christmas.
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Also its not exactly thin air. They sell bonds
The treasury sells bonds. The Fed creates the money of thin air to buy the bonds because no one else will. I'm certainly more than willing to create money out of thin air to buy treasury bonds. As long as it doesn't cost me anything  If fiat is made out of thin air, what's Bitcoin made of? Wasted electricity and broken dreams?  |
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technology will advance whether you like it or not because there are many people like me who are unsatisfied with the current state of affairs .....
Technology will most certainly advance. Bitcoin is 5-year-old proof of concept that never managed to get past beta, soon to be superseded. Enjoy your bag |
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^
Welcome to the forum, faggot.
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No, those who count the votes are the government. No, you are not free to legally leave most countries without being taxed out the ass. No, Somalia collects taxes.
You can always go live under the sea...  |
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That's the beauty of the free market. Every trade is win-win or it doesn't happen.
In the next class we will learn about this complicated concept called "scam". >bitcoiners >educable Good luck. |
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being fae Scotland, I am partial to some Sheep innards
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Eww? |
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^Old people... Get totally unglued at the most inappropriate times  This old chestnut again?
I'll say the same as I did 6 months ago or a month ago.
We'll probably reach our old ATH by mid summer, and hit anywhere from $7000 to $12,000 before crashing down to $2000-$2500, possibly before year's end.
We should be above $10,000 for good by this time next year.
Unless something comes along to break Bitcoin before then.
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The state is an organisation which has the monopoly of violence over a nation (= people, territory, infrastructure, capital). The workings of this organisation are similar to that of the maffia: they extort the nation, and they provide some services such as "protection"... Now I understand. It is impossible to debate a mind like yours--you'll simply restate your delusions. Here's a quote describing your mentality far better than I ever could: I have never seen a more sublime demonstration of the totalitarian mind, a mind which might be linked unto a system of gears where teeth have been filed off at random. Such snaggle-toothed thought machine, driven by a standard or even by a substandard libido, whirls with the jerky, noisy, gaudy pointlessness of a cuckoo clock in Hell.
The boss G-man concluded wrongly that there were no teeth on the gears in the mind of Jones. 'You're completely crazy,' he said.
Jones wasn't completely crazy. The dismaying thing about classic totalitarian mind is that any given gear, though mutilated, will have at its circumference unbroken sequences of teeth that are immaculately maintained, that are exquisitely machined.
Enjoy your worldview  Edit: Another interesting take: |
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...Trust me...
If I trusted you, citing your sources would not be necessary. I do not trust you. an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees.”
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I'm going to stick with my 3% average annual loss to fraud number.
Fine, whatever. But In just the past 24hrs, ignoring my advice has cost you ~5%, or 2% more than CC fraud losses. Only because we had more good news. Time publishing now takes bitcoin too. Step 1, make bitcoin actually useful enough for normal people to bother obtaining, by making them be able to spend it on stuff. That will obviously drive down prices, since now early investors and hodlers can spend it on stuff. Step 2, now, is to get more normal people to adopt it. That's where merchant discounts (and currency controls by failing nations) come in. TL;DR: Your sources were trash, your math was wrong. While we were having this chat, Bitcoin continued to tank, dropping in price by ~11%.  Get past denial, time to move on. |
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... i suggest you gift digital or paper wallets to your folks...
Merry Christmas, pumpkin! I got you a piece of paper--it's kind'a like money you can't spend. You'll thank daddy when you're older.  |
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Issuing fiat money profits of course to those issuing it (the state, the central bank, those giving assets to the central bank against fiat money...). By increasing the fiat money stock, this seigniorage is paid for by all those who held fiat money they obtained by working for it, because of the inflation they suffer... This is the basic misunderstanding of most on this forum--believing that the state is a separate entity, rather than themselves. The state is not a separate entity, it is the sum total of people of the state. No more a separate entity than the pool that you aim your hashpower at. |
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Cheer up, bulls! Your suffering is not in vain. Thanks to your financial blunders and woeful lack of deference to your betters, I'm totally dance party!  |
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this thread is for bulls or bears, no slaughtered lambs allowed Bite your tongue, Bitcoin antichrist! Worthy is the Lamb that was slain to receive power, and riches, and honour, and glory.
How's ignoring the Lamb working out for you my children? All good?
~Rev. FatherBob
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There is no tax, just a distribution of coins. If 10% of new coins being emitted per year, then rougly the same amount of money will be spent mining them. The same goes for 5%, 2% of the market cap and so on. Money in, money out - no tax!
Call it "service fee" or "inflation," call it whatever you want, but ~10% of Bitcoin's market cap will be spent every year to maintain current level of security. For now inflation is footing the bill, but once block reward halves, either security will suffer, or tx fees go way up. If Bitcoin stays relevant in the future there will always be a competition for "conquering" its algorithm. I can't say whether it will cost 10% of its market cap or not. But I can say for sure that those engaging in this voluntary competition will be getting something out of it - be it profit in the form of transaction fees or some other agendas. The algorithm really doesn't care about people's nationality, political or religious views, their skin or eye color. It simply says "here I am out in the open, make me run faster and you win!". I'm not suggesting that the Bitcoin's algorithm is racist, merely that it is horribly wasteful (roughly 14% of all BTC in existence was mined over the past year, i.e. 14% of Bitcoin's market cap was spent on network maintenance/security). And these costs do not translate into jobs, but mind boggling amounts of burnt energy. Bitcoin utopia:  ...
If there is a better way to organize a neutral global money system, we should have it penned here and get a nobel prize in economics.
Yes, there is, already exists--the current fiat system. Imposing limitations like "It has to be trustless, decentralized, and it's name must start with the letter 'B'" is a bit Goldbergian. |
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I understand some of you gentlemen subscribe to the tenets of teh Austrian school? Imagine my delight when I chanced into the school's fine cafeteria & was served  |
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This should bounce from here, right...? Big money is dumping, wiping, and GTFO.  |
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... Say it brother! Yes they are! HODL until the end!  I repeat: You have nothing to worry about. Stay in your trenches!  *Good morning, gentlemen. |
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  ouch. |
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ouch. |
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