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Author Topic: I think bitcoin is a great idea but my friend doesn't  (Read 5326 times)
FreeMoney
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May 27, 2011, 09:39:48 AM
 #21

In a very short time (much shorter than it takes to inflate the bubble) BitCoins will crash right down  back to $0. 

They might drop a lot but the only way for them to reach 0 is for no one to want to buy any from me after I, personally, have bought every single bitcoin.


Lol, we'll get in a bidding war around $1/21000 per coin.

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marcus_of_augustus
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May 27, 2011, 10:05:29 PM
 #22

The exchange fees can really be thought as as a "Buy-In" fee.
There are no obligations to pay any fees once you have actually obtained your BTC.

It's the same with all currency mind-you, just go on holiday and suffer the great FX fees!

Actually, the exchange fess are mostly generated by electronically "cashing out" of the fiat casino system. They don't like people leaving and throw up all kinds of road blocks (as does any other monopoly), that is what creates the fees mostly, as overheads due to cashing out costs incurred by the exchanges is passed on.

For example, if you find a trustworthy local person to trade cash for bitcoins the overheads and thus costs incurred by the transfer can be minimal.

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May 27, 2011, 11:44:34 PM
 #23

In a very short time (much shorter than it takes to inflate the bubble) BitCoins will crash right down  back to $0. 

They might drop a lot but the only way for them to reach 0 is for no one to want to buy any from me after I, personally, have bought every single bitcoin.


Lol, we'll get in a bidding war around $1/21000 per coin.
While I'm alive, it will never go that low.
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May 28, 2011, 12:19:34 AM
 #24

I'm hoping you're american and your friend also, like me.

If so, ask what he thinks about the economy of the united states, the federal reserve, and how the dollar has lost something like 95% of it's original value.

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May 28, 2011, 01:32:20 AM
 #25

I'm not from the USA.
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May 28, 2011, 01:54:42 AM
 #26

I'm not from the USA.
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May 28, 2011, 02:44:47 AM
 #27

I'm not from the USA.

The euro is next.

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MoonShadow
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May 28, 2011, 02:59:54 AM
 #28

I'm not from the USA.

The euro is next.

Bullsh*t.  The Euro is first.  There is nothing underpinning the European Economic Union or the Euro itself beyond faith.  At least the US FRN has an army with a single command structure.  The Germans can't tax Greece if they tell them to bugger off and go start their own national currency again, and France can't buy German goods if Germans do the same.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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May 28, 2011, 03:04:32 AM
 #29

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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May 28, 2011, 03:22:51 AM
 #30

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.

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May 28, 2011, 03:25:50 AM
 #31

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.
rezin777
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May 28, 2011, 02:17:09 PM
 #32

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.
eturnerx
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May 28, 2011, 02:25:50 PM
 #33

Shit happens.
Do you just let it happen to you? I buy umbrellas.
I prefer corks, but umbrellas are okay in a pinch.

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Mike Hearn
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May 28, 2011, 02:33:14 PM
 #34

Yes, please don't describe Bitcoins as having "free transactions". It's not true and never has been true. They're paid for via inflation today and fees tomorrow.

There was a time when Bitcoin had no value at all and nobody was trading them. It bootstrapped itself out of that phase successfully, and it wasn't by people who wanted to make a quick buck then exit. It's very unlikely the economy would totally collapse.

The value vs the dollar though, could well drop a lot. Who knows.
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May 29, 2011, 12:57:33 AM
 #35

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.
rezin777
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May 29, 2011, 01:06:34 AM
 #36

Umbrellas to cover from shit?, Jesus, I don't what to be where you are.

Works great, as long as you can see the shit coming. 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".
Imnotadoctor
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May 29, 2011, 01:26:09 AM
 #37

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.
rezin777
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May 29, 2011, 01:35:38 AM
 #38

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)!   Grin
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May 29, 2011, 01:41:07 AM
 #39

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)!   Grin

Fair enough, and again thanks for all the opinions in this thread.
PabloW
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May 29, 2011, 02:50:37 AM
 #40

Tell your friend to try and be positive, because all the scene that you just described its all based on negative actions  Wink
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