Just read this in zerohedge and it made me laugh
noobzilla Wed, 05/23/2018 - 12:11
Permalink
The reasons why you should buy my turds for $8000 each:
I poop all over the place, so it's decentralized. You can trade my turds anonymously; no middle man is required.
There is a finite quantity of my turds, which makes them a good store of value. There's the total amount of turds I've made so far, plus the turds I'll make until I'm dead, and then that's it - no more.
Sure, anyone can make their own turds, but I came up with idea of selling my turds first, and everybody knows about it, so my brand of turds has more value. If you spent $3000 on electricity processing my turd transactions, I will mail you one of my freshly made turds.
Can't afford $8000 for 1 turd? They're divisible.
|
|
|
|
Gold is getting hammered as the dollar soars, but bitcoin becomes the dominant non-sovereign store of value, it could be the new gold, or new reserve currency.
Gold dropped $20 and its getting hammered. Bitcoin dropped $11,000 but is becoming dominant. Whatever your smoking I think you need to stop. |
|
|
|
I think Blockchain can not be manipulated unless someone controls more than 51% of mining power. Gold can melt and turn into other materials. Both are difficult to change. Gold and Bitcoin are similar in some respects, but also very different.
No, gold is a physical thing you can hold in your hands. Bitcoin is electronic data. Stored in blockchain so everyone can see it. Everyone can not see all the gold.
Gold can not melt and turn into other materials. Got to love the experts dishing out financial advice on this forum some times  |
|
|
|
Btcs can change it, because btcs are taxless currencies and so everyone can earn them irrespective of cast and creed!
Except they are not tax free in the majority of countries. |
|
|
|
|
No chance, you may have a few new "elites" but the wealth distribution remains the same with the minority controlling the majority of wealth.
0.00088% of addresses own 17.49% of Bitcoin
0.01% of addresses own 20.47% of Bitcoin
0.10 of addresses own 21.9% of Bitcoin
0.94% of addresses own 28.02% of Bitcoin
3.06& of addresses own 7.02% of Bitcoin
41.93% of addresses own 0.01% of Bitcoin
24.94% of addresses own 0.09% of Bitcoin
19.61% of addresses own 0.53% of Bitcoin
9.41% of addresses own 2.84% of Bitcoin
.00000748% of addresses own 0.73% of Bitcoin
Summary
4.1% of addresses own 96.53% of Bitcoin
95.89% of addresses own 3.47% of Bitcoin
Wasn't it nice of the elitists to allow you to own 3.5% of Bitcoin?
|
|
|
|
|
0.00088% of addresses own 17.49% of Bitcoin
0.01% of addresses own 20.47% of Bitcoin
0.10 of addresses own 21.9% of Bitcoin
0.94% of addresses own 28.02% of Bitcoin
3.06& of addresses own 7.02% of Bitcoin
41.93% of addresses own 0.01% of Bitcoin
24.94% of addresses own 0.09% of Bitcoin
19.61% of addresses own 0.53% of Bitcoin
9.41% of addresses own 2.84% of Bitcoin
.00000748% of addresses own 0.73% of Bitcoin
Summary
4.1% of addresses own 96.53% of Bitcoin
95.89% of addresses own 3.47% of Bitcoin
Wasn't it nice of the elitists to allow you to own 3.5% of Bitcoin?
|
|
|
|
I dumped a lot of crypto into precious metals when the BTC price was near $19k and its now $8.6k so who is the fool?
Well, you just valued the crypto you sold in terms of fiat--just like everyone does, and for good reason. If not many merchants accept bitcoin, and the ones that do price everything in terms of fiat, there's no real way 1 BTC has any meaning by itself. As for buying the metals, I'm convinced that silver is going to keep oscillating around $16 for quite a while, and while I do think dumping bitcoin at $19k was a good idea, I probably would have just converted it to fiat. I don't think metals are a great investment, even though they've been beaten down to the point where you might think they're cheap enough to buy. But hey, I hope you make money and I do see the appeal of owning some nice coins or bullion. Having something physical representing wealth has an allure to it that is absent with bitcoin. Its alot easier to securely and quickly convert large volumes from BTC -> gold -> fiat than BTC -> fiat |
|
|
|
I disagree with the comparison of bitcoin to that silly rhetoric propagated by the precious metals crowd. I heard many of the same sentiments back in 2011-2013, and I knew it was bullshit then. And you know who those people are who wrote that crap? People who want to sell you their silver FOR FIAT. That's right, hucksters. And they were riding the wave of the metals bull market, which started to crash in 2011. But if you think they're not saying the same things today, think again. I visit coinflation.com occasionally, and the linked articles all keep saying the same thing, repeating in a loop. Ron Paul says buy goldYou have to own real hard assets like silver and gold...and it just keeps going. Don't listen to any of that, that's my advice. I don't hear many of the same claims about bitcoin, and bitcoin is quite different from metals in many ways. Good thread here. Glad someone is acknowledging the idiocy of metals in 2011. Kind of like the 99% of people here that have no interest in crypto and only try to hype it so they can dump at a profit into fiat. Which is one of the most popular threads on the forum, spoiler - speculation and every thread is linked to fiat price. Are China and Russia which are accumulating precious metals as quickly as possible doing so just to try and sell to you? - NO Its not regulation that will kill crypto its when they hit maturity and the price stabilises. As soon as people wake up one day and realise that bitcoin isnt going to make them overnight millionaires while doing nothing but hodling they will dump en mass back into fiat. I dumped a lot of crypto into precious metals when the BTC price was near $19k and its now $8.6k so who is the fool? Currently a no coiner apart from some IOTA, will possibly buy back in when the time is right but I have no emotional attachment to crypto and just view it as another money making tool. |
|
|
|
yes 100% sure:
I was able to sell 100% pure 3 ounces Silver coin without a purchase's receipt. That is the trust bullion dealers have in 100% pure gold and silver. I have previously sold over £50k in gold at a bullion dealer with no paper work. |
|
|
|
Just 3 months back, Gold was $1356/ounce. How could that be 6 months high price shown by Bullionbypost yesterday
Because bullionbypost are talking £s and you are talk $s Bullion fluctuations vary by currency, gold could be down in $ terms but up in £s. |
|
|
|
Are you sure Silver is used in solar panels ? That is HUGE BUSINESS now worldwide.
yes 100% sure: The average solar panel actually uses about two-thirds of an ounce of silver, which is about 20 grams. That might not sound like a lot, but at around $20 an ounce it contributes more to the cost of solar than it does to the other industrial products that use silver.
|
|
|
|
Silver is now $16. Its reserves are limited and produced together with other metals. When they switched to digital photography, the demand, and then the price of it, fell dramatically.
Digital photography may have disappeared but new industrial uses are being found such as solar panels. |
|
|
|
Fake news/email alert from Bullionbypost  That is a well known and trusted bullion dealer. Why is it fake news, not hard to verify the claim by just looking a gold price chart?  |
|
|
|
Fake email alert/news I got: That is a well known and trusted bullion dealer. Why is it fake news, not hard to verify the claim by just looking a gold price chart? |
|
|
|
|
the graph does not show volatility, it shows a steady decline in purchasing power linked to inflation.
this applies to every fiat currency.
|
|
|
|
Both bitcoins and gold are great for long term investment but bitcoins might be more profitable but also has high risk of drop and uncertainty. Bitcoin will be more popular than gold in the future. Considering technology occupies everything, anytime and everywhere these days, we can consider that bitcoin is better investment over gold. Bitcoin, since it is digital, it can be easily kept unlike gold.
This is a common misconception. Why is gold not easy to keep? A £32k gold bar is the size of a smart phone. Convert all your current BTC holdings into gold at £32/g and work out how much physical space it will occupy and how easy it would be to store safely out of sight. |
|
|
|
Though bitcoin may be better than gold in the perspective of yielding income or for investment purposes but there is ONE thing that bitcoin lacks, which is COLLATERAL and SECURITY. Remember that gold has been around ever since time immemorial and people considered it as the boon of investment. Another thing to consider is that gold has been backed and regulated by the government in order to prevent abuses.
In adherence to this, bitcoin's value is very volatile- meaning its price may vary without any given notice. Not to mention, the current status of bitcoin is sensitive wherein if a country prohibits its utilization then its price would be significantly affected.
Lastly, gold is an tangible asset compared to bitcoin, which is intangible.
Bitcoin does not yield an income, you are just gambling on price fluctuations the same as gold. |
|
|
|
|
It kind of worries me how many in this thread think a cashless society is some sort of utopia.
You need to step back and ask why governments and banks want a cashless society, hint its not for your benefit.
Cashless society =
Banks have complete control of your finances.
No more bank runs the next time they fail.
No escaping negative interest rates.
Every transaction is traceable and taxable.
No financial privacy.
What happens during a banking system failure - no access to funds (one happened in the UK for TSB customers over the last week).
A cashless society also does not equal Crypto, a cashless society could be achieved with existing technology in place i.e. debit and credit cards.
In the UK you can see children are being pre-conditioned ready for a cashless society. Many schools now use finger print recognition to pay for school lunches linking to an online credited account.
My advice is to use cash where you can and hold on to it as long as your can, its another way of holding wealth outside the system like precious metals and crypto.
|
|
|
|
investing in gold is not gonna make you rich neither. It is increasing like 1% per year, or maybe 2%.. So tell me, how the hell can you be rich by investing in something that you need to wait 100 years to make a x2?
Gold is not suppose to make you rich, it is designed for wealth (inc. inter generational) wealth preservation with no 3rd party risk. although gold is over due a price correction up that is likely to happen sooner rather than later. Bitcoin can make you rich (depending on how much you hold) but it can also bankrupt you and most people here seem to forget that. |
|
|
|
This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.  It is not suppose to make you rich anyway, it is made to keep your money safe. If you want to get rich, start a business and a passive income. Anything that makes you money even with minimal time spent can make you more money that keeping it in a bank. That is why it is always advised to put money on investments like stocks, mutual funds, assets and in here, bitcoin and altcoins. Are banks safe? They didn't seem so safe in Cyprus when they froze deposits then performed a haircut and stole everyone's money. How many banks have failed and required a state bailed to prevent complete disaster, who is to say if the state would be willing or able to bail them out next time especially if several fail simultaneously? The law has changed in many countries where you are now classed as an investor in a bank when you deposit funds and the money is officially now theirs not yours should something go tits up again. |
|
|
|
|
Show Posts
