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My nonsense answer was in response to your nonsense answer when you suggested that the break down of the worlds debt money system can be written off as "shit happens".
And why not? the way the macro-economy is managed it is going to happen sometime, and it is going to be a nasty situation, it was lighthearted comment but I don't see the nonsense. OK. The reason I thought it was a nonsense answer is because you were originally asking for opinions about Bitcoin. Some people suggested that it's superior over the current system and when you said, "shit happens", I got the impression that you didn't really care. I care about the shit happening and I'm trying to come out the other side without being covered in shit (which is why I use Bitcoin)!  Fair enough, and again thanks for all the opinions in this thread. |
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My nonsense answer was in response to your nonsense answer when you suggested that the break down of the worlds debt money system can be written off as "shit happens".
And why not? the way the macro-economy is managed it is going to happen sometime, and it is going to be a nasty situation, it was lighthearted comment but I don't see the nonsense. |
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I'm not from the USA.
The euro is next. Ah, assumptions, what would be the world without them?, I love how a little debate started from that, I'm not from Europe. The currency in whatever geographic area you're in isn't far behind either. Shit happens. Do you just let it happen to you? I buy umbrellas. Umbrellas to cover from shit?, Jesus, I don't what to be where you are. |
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I'm not from the USA.
The euro is next. Ah, assumptions, what would be the world without them?, I love how a little debate started from that, I'm not from Europe. The currency in whatever geographic area you're in isn't far behind either. Shit happens. |
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I'm not from the USA.
The euro is next. Ah, assumptions, what would be the world without them?, I love how a little debate started from that, I'm not from Europe. |
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Thanks for your opinions.
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and moves this thread
You guys are great help!  |
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He says that the "no transaction fee" argument is a red herring, he thinks that the important issue is not the internal cost of transactions but the cost of getting my dollars converted into Bitcoins and then back out again. He argues that Mt. Gox charges 0.65% coming and going, and one also loses the 1% spread in exchange rate, for a total of 2.3%, before any fees charged by the financial institution from which the dollars originated and to which they are ultimately deposited, so it is not free.
He also thinks the biggest problem with BitCoins is the exchange rate. On Mt. Gox the exchange rate has fluctuated 25% in the last twenty-four hours, so he thinks it is a bubble. He say that the talk about BitCoin being a sound currency is a cover for a pyramid that must keep recruiting an ever-larger base in order to avoid collapsing, that now is all good but that the bubble won't expand forever and that at some point, the balance will swing to people cashing out, so the values of the bitcoins will decrease dramatically because they have no fundamental support, no government taxation authority backing them up, merchants who were accepting BitCoins will suddenly decide they shouldn't accept them any more. People who are holding BitCoins suddenly become afraid they can't buy anything with them any more, so they try to sell them. In a very short time (much shorter than it takes to inflate the bubble) BitCoins will crash right down back to $0.
So he keeps trying to persuade me to keep me out of this "pyramid scheme", and to not exchange my real money for this "funny money".
Please tell me your opinions.
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