Would Bitcoin not have been a better option for Zimbabwe?

[LCSociety]

They have water and can afford brand name bottled water

From a capitalist stand point. If I bottled up filtered tap water and got you to pay me up to $1.22 per bottle. Who is the smart one in that scenario.... The buyer, or the seller?

You want freebie osmosis water filters from your government? WTF have you done for it lately? Where's that entitled special snowflake attitude coming from, bro? Get a job, buy your own frickin' osmosis water filter

LOL people in Flint will literally be dead if they continue to drink that poisonous water

The US has a networth of $123.8 Trillion dollars as someone posted earlier.

Supplying osmosis filters is the least they can do

lol, this Detroit idee fixe of yours, what up with that? Don't like Detroit? You got legs, walk away. Or swim to Zimbabwe, they need thinking fellers like yourself over there. You''ll be fartin' through silk in no time

I dont have any issue at all with Detroit. It's just, I'd expect the government to do something when such a large amount of their population are being forced to ingest poisonous substances that could cause severe health complications

Your government does not care for your health

Your government does not care for your wealth... Hence their QE scams, and whey they relentlessly tax each and every one of you. How does it feel, when you realise that each and EVERY financial transaction that you have ever intiated on US soil has been taxed off and filtered into the pockets of the same government, that is now sitting on the sidelines, watching you guys suffer and offering ZERO relief

I dunno man... Doesn't seem righteous at all to me.



 

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[Blacula X]

They have water and can afford brand name bottled water

From a capitalist stand point. If I bottled up filtered tap water and got you to pay me up to $1.22 per bottle. Who is the smart one in that scenario.... The buyer, or the seller?

You want freebie osmosis water filters from your government? WTF have you done for it lately? Where's that entitled special snowflake attitude coming from, bro? Get a job, buy your own frickin' osmosis water filter

LOL people in Flint will literally be dead if they continue to drink that poisonous water

The US has a networth of $123.8 Trillion dollars as someone posted earlier.

Supplying osmosis filters is the least they can do

lol, this Detroit idee fixe of yours, what up with that? Don't like Detroit? You got legs, walk away. Or swim to Zimbabwe, they need thinking fellers like yourself over there. You''ll be fartin' through silk in no time

I dont have any issue at all with Detroit. It's just, I'd expect the government to do something when such a large amount of their population are being forced to ingest poisonous substances that could cause severe health complications

Your government does not care for your health

Your government does not care for your wealth... Hence their QE scams, and whey they relentlessly tax each and every one of you. How does it feel, when you realise that each and EVERY financial transaction that you have ever intiated on US soil has been taxed off and filtered into the pockets of the same government, that is now sitting on the sidelines, watching you guys suffer and offering ZERO relief

I dunno man... Doesn't seem righteous at all to me.

You are not only insane, but a freeloader to boot. No one is forcing you to live in Detroit. You don't like it, leave. You're a US citizen, get a frickin' job. Don't bitch about Nanny State taking away your freedoms & demand free osmosis water filters in the same breath.
Or go to Zimbabwe and be an entitled brat there, demand free osmosis water filters & see how that goes.
IF they'll take you

[LCSociety]

You are not only insane, but a freeloader to boot. No one is forcing you to live in Detroit. You don't like it, leave. You're a US citizen, get a frickin' job. Stop whining and demanding free osmosis water filters. Or go to Zimbabwe and be an entitled brat there. IF they'll take you

LOL, your government taxes the piss out of you and you call me a freeloader. The humor is A1

You shouldn't make assumptions. I'm certainly not a US citizen. Thankfully so.

You work like some kind of slave from 9 till 5, each day... and you're forced, via threat of imprisonment to furnish HUGE chunks of your income to your government.

This is nothing except indentured servitude. Slavery if you will.

Even worse, if your government stopped taxing you - they'd literally have zero money.

Their whole QE, tax scam is nothing other than the equivalent of a share buyback scheme. They print the dollars... deploy these dollars via loans, and then collect them back via taxation so that they can purchase MORE assets for themselves, before further depletion of the spending power of the dollar via more QE

The only reason you have involved yourself in this bitcoin ecosystem is because you have been raped, endlessly by your government. Yet, like Pavlov's dog, the statist conditioning kicks in yet again... and self proclaimed libertarians, anarchists, anti this and anti thats.... revert back to patriots when certain triggers are touched upon

Social engineering at it's finest

[Blacula X]

You are not only insane, but a freeloader to boot. No one is forcing you to live in Detroit. You don't like it, leave. You're a US citizen, get a frickin' job. Stop whining and demanding free osmosis water filters. Or go to Zimbabwe and be an entitled brat there. IF they'll take you

LOL, your government taxes the piss out of you and you call me a freeloader. The humor is A1

You shouldn't make assumptions. I'm certainly not a US citizen. Thankfully so.

Then the US government isn't taxing you. Fix the government of whatever third world armpit you hail from, don't worry about us

You work like some kind of slave from 9 till 5, each day... and you're forced, via threat of imprisonment to furnish HUGE chunks of your income to your government.

This is nothing except indentured servitude. Slavery if you will.

Get good, you won't have to grind. Doing fine myself, no complaints.

Even worse, if your government stopped taxing you - they'd literally have zero money.

Their whole QE, tax scam is nothing other than the equivalent of a share buyback scheme. They print the dollars... deploy these dollars via loans, and then collect them back via taxation so that they can purchase MORE assets for themselves, before depleting the spending power of the dollar via more QE

The only reason you have involved yourself in this bitcoin ecosystem is because you have been raped, endlessly by your government.

No, I got into Bitcoin because, at first, I was simply amused by the concept, for the same reason as I got into folding@home. Stayed in because it was easy money for a while -- because lunatics and zealots trying to get rich by doing nothing, and I knew the right people. Got out out in the $600s on the way up because couldn't believe my luck.
Doubted my decision when the price hit $1200, but since then? No regrets.

[fenican]

Ridiculous statement. The dollar is the world's reserve currency and has risen about 35% against the basket of world currencies since 2008. US treasury notes are the gold standard for liquidity in the world.

The largest complaint the world has about the US dollar is that there are too few, not too many, of them available in circulation. That is why demand for treasury notes worldwide is so insanely high.

US treasury notes are the gold standard for toilet paper at the residence of Xi Jinping

"The dollar is the world's reserve currency?" Without using common cliches, could you actually explain what that means exactly?

It means that 64% of all foreign exchange reserves are held in dollars. The next closest competitor is the Euro which accounts for 20% of world reserves.

Foreign exchange reserves are what you use to save your country when, for example, your currency tanks or your primary export crashes in value. See Saudi Arabia and Russia - their dollar and euro reserves are keeping them alive in the age of plummeting oil. It means the world has enormous trust in the dollar as the most stable hold of value.

Nobody holds or trusts Yuan outside of China.

[Cereberus]

Bitcoin is better for countries that are struggling with their banks. Imagine if Greece adapted to bitcoin 2-3 years ago. They would not be in the chaos they were in last year. What bitcoin can do for countries in economic turmoil could save them from disaster. Only if they knew about it first.

[Blacula X]

Bitcoin is better for countries that are struggling with their banks. Imagine if Greece adapted to bitcoin 2-3 years ago. They would not be in the chaos they were in last year. What bitcoin can do for countries in economic turmoil could save them from disaster. Only if they knew about it first.

If they adopted it 2-3 years ago, they'd be dirt poor. Bitcoin was $1200 2.5 years ago.

[European Central Bank]

So they're gonna spend the last of their foreign reserves buying coins off Chinese neckbeards? I can think of a few things they'd prefer to do.

[LCSociety]

No, I got into Bitcoin because, at first, I was simply amused by the concept, for the same reason as I got into folding@home. Stayed in because it was easy money for a while -- because lunatics and zealots trying to get rich by doing nothing, and I knew the right people. Got out in the $600s on the way up because couldn't believe my luck.
Doubted my decision when the price hit $1200, but since then? No regrets.

Either way, you're converting into dollars. Therefore, you lost. There's an entire cloak room, jam packed, with SEVERAL bags of tricks that you missed

You degrade those living in the third world, yet brush over the fact that your aunt sally over in Michigan can't even have herself a warm cup of coffee anymore because of third world style water pollution. Not cool.

Your missing the point of crypto currencies in general, and I wont explain it to you Mr. "cashed out at $600 with no regrets." You clearly have it all figured out.... until those negative rates kick in. You'll be in a pickle then I tell ya

The fact is, when you compare any random nation in africa... Hell, Detroit is a piss stained landfill when compared with an economy like the one in Nigeria... The Oil capital of africa.

This government that you opose.... then defend.... then opose.... doesn't have the money to lift it's own citizens out of peril and pollution. So paying back this $17 TRILLION worth of external debt is a myth. Your precious dollar is due for some good old fashioned debasing which is taking place already, in a gradual and stealthy manner.

Familiar with the term creeping normality?  Creeping normality refers to the way a major change can be accepted as the normal situation if it happens slowly, in unnoticed increments, when it would be regarded as objectionable if it took place in a single step or short period.

Mud water out of Aunt sally's faucet is only the first sign of melt down

It means that 64% of all foreign exchange reserves are held in dollars. The next closest competitor is the Euro which accounts for 20% of world reserves.

Foreign exchange reserves are what you use to save your country when, for example, your currency tanks or your primary export crashes in value. See Saudi Arabia and Russia - their dollar and euro reserves are keeping them alive in the age of plummeting oil. It means the world has enormous trust in the dollar as the most stable hold of value.

Nobody holds or trusts Yuan outside of China.

Naughty boy... You're using cliches...

What in the world are foreign exchange "reserves?" If mere contributors to some online forum are able to expose the fact that when new dollars are printed into existence, the pre-existing supply loses value - you don't think these central bankers, finance ministers etc are aware of this?

And you want to tell me they are foolish enough to keep this shit pile currency in "reserve" so that their wealth can vanish into thin air. That's not their job.. that's the job of the everyday 9 to 5 slave that has been conditioned to "save" his money instead of investing it.

There are no "foreign exchange reserves"

This is folly, you have to do better than this.

[fenican]

You are not only insane, but a freeloader to boot. No one is forcing you to live in Detroit. You don't like it, leave. You're a US citizen, get a frickin' job. Stop whining and demanding free osmosis water filters. Or go to Zimbabwe and be an entitled brat there. IF they'll take you

You work like some kind of slave from 9 till 5, each day... and you're forced, via threat of imprisonment to furnish HUGE chunks of your income to your government.

Misinformation. The average American pays 19.8% of their income in federal taxes. The "average" here is misleading because high income earners pay proportionally much more. Someone making in the $40k-$50k per year range, a reasonable salary in most places, only pays 11% in federal taxes. That's a bargain considering they get a massive interstate highway system, the world's largest military, and a robust social security and medicare system that not only protects them in old age but also takes care of them if they become disabled.

OK, you will whine, but state and local taxes will kill them. Not really. Many states like Texas, Nevada, and Florida have no state income tax and sales tax rates across the US are very modest. Many counties also have no local income taxes and many areas have extremely low real estate taxes of less than 1% of the home value per year.

[Blacula X]

No, I got into Bitcoin because, at first, I was simply amused by the concept, for the same reason as I got into folding@home. Stayed in because it was easy money for a while -- because lunatics and zealots trying to get rich by doing nothing, and I knew the right people. Got out in the $600s on the way up because couldn't believe my luck.
Doubted my decision when the price hit $1200, but since then? No regrets.

Either way, you're converting into dollars. Therefore, you lost. There's an entire cloak room, jam packed, with SEVERAL bag's of tricks that you missed out on.

You degrade those living in the third world, yet brush over the fact that your aunt sally over in Michigan can't even have herself a warm cup of coffee anymore because of third world style water pollution. Not cool.

Your missing the point of crypto currencies in general, and I wont explain it to you Mr. "cashed out at $600 with no regrets." You clearly have it all figured out.... until those negative rates kick in. You'll be in a pickle then I tell ya

The fact is, when you compare any random nation in africa... Hell, Detroit is a piss stained landfill when compared with an economy like the one in Nigeria... The Oil capital of africa.

This government that you opose.... then defend.... then opose.... doesn't have the money to lift it's own citizens out of peril and pollution. So paying back this $17 TRILLION worth of external debt is a myth. Your precious dollar is due for some good old fashioned debasing which is taking place already, in a gradual and stealthy manner.

Familiar with the term creeping normality?  Creeping normality refers to the way a major change can be accepted as the normal situation if it happens slowly, in unnoticed increments, when it would be regarded as objectionable if it took place in a single step or short period.

Mud water out of Aunt sally's faucet is only the first sign of melt down

You clearly drank too much of that Detroit tap water. Full of nasty neurotoxins, that. Should have invested in Evian.
- I have no Aunt Sally, in Detroit or elsewhere.
- Made actual folding money from Bitcoin enthusiasts like yourself.
- Don't care about negative interest rates, keeping your money in a savings account is the second-dumbest thing to keeping it in BTC.
- Do not oppose the government. Not born in US, came here, like it just fine. Bitching would be a dick move.
- Swim to Nigeria, the prince is askin' for you.

[LCSociety]

the world's largest military

Wrong China has had the world's largest military for years now.

But, I know... the US propaganda machine is strong... don't worry... We have the internet now: http://www.worldatlas.com/articles/29-largest-armies-in-the-world.html

http://www.worldatlas.com/articles/29-largest-armies-in-the-world.htm

OK, you will whine, but state and local taxes will kill them. Not really. Many states like Texas, Nevada, and Florida have no state income tax and sales tax rates across the US are very modest. Many counties also have no local income taxes and many areas have extremely low real estate taxes of less than 1% of the home value per year.

Low tax... is better than no tax?

They dont charge one penny of employment tax in Saudi Arabia. Because they have the oil barrels to end all oil barrels.

The only source of income for your beloved US is their QE and Tax fraud that they perpetrate on their citizens. What is the number one rule when it comes to pyramid schemes and ponzi scams? Eventually, they MUST collapse

You clearly drank too much of that Detroit tap water. Full of nasty neurotoxins, that. Should have invested in Evian.
- I have no Aunt Sally, in Detroit or elsewhere.
- Made actual folding money from Bitcoin enthusiasts like yourself.
- Don't care about negative interest rates, keeping your money in a savings account is the second-dumbest thing to keeping it in BTC.
- Do not oppose the government. Not born in US, came here, like it just fine. Bitching would be a dick move.
- Swim to Nigeria, the prince is askin' for you.

Don't get how you made money when you converted to USD.

People don't understand the dollar does not have a fixed value. It literally decreases over time. Each and every one of you that convert into dollars and then sit there and say you "made money" make me laugh.

You've got to keep that sum bitch moving across the entire spectrum of asset classes, because there is action to be had EVERYWHERE. But being an economical noob, this has gone over your head. Not to worry, now that I've mentioned it - you'll never forget.

Send your Aunt sally in detroit an osmosis filter, because your government is financially crippled and unable to keep the lights in the white house on, let alone prevent your aunt from chocking on swamp water

[Blacula X]

^But you said you're not even a US citizen, why baww about US taxes? Got nothing better to do?

[fenican]

There are no "foreign exchange reserves"

So you are claiming the 3.2 trillion dollars China holds in dollars and euros are not real? That's fairly outlandish given that China buys and sells them constantly in open market trades. Lately, they have been doing a whole lot more selling than buying as have most emerging economies. That is why the dollar has risen 35% against a basket of world currencies since 2008.

What that means, to the "9 to 5 slave" like me is that if I travel to Europe or Asia my dollars have about 35% more buying power than they did just a few years ago. Contrast with Bitcoin which has 50% less buying power than it did at its recent peak.

[Ultrafinery]

Wait, Nigeria and Zimbabwe are richer than US?



@fenican: You're being trolled. It's the "pick an absurd, untenable position, see how many people get worked up trying to prove you wrong" bit.

[LCSociety]

So you are claiming the 3.2 trillion dollars China holds in dollars and euros are not real?

Of course not. If so, verify this without using cliches.

Lately, they have been doing a whole lot more selling than buying as have most emerging economies. That is why the dollar has risen 35% against a basket of world currencies since 2008.

China is propping up the dollar? Why on earth would it do that?

Think logically... this doesn't make sense... Once you US pays them their money, yes - prop up the dollar, this is logical. But not when the US owes them shit pile of money.

They'd rather collect more dollars, and then they'd run some manipulation. If they were to do that without being paid first, they are literally giving more money to the US - the peasant state of the world, thus increasing this debt that they'll never be able to pay back

Forget comparing the USD to other FIAT currencies... it is a dog and pony show. Since it's inception the US dollar has only gone DOWN, in terms of purchasing power.

What that means, to the "9 to 5 slave" like me is that if I travel to Europe or Asia my dollars have about 35% more buying power than they did just a few years ago. Contrast with Bitcoin which has 50% less buying power than it did at its recent peak.

In practice, you'd find this to be untrue

Price always adjust to negate things like this

This is economics 101

Wait, Nigeria and Zimbabwe are richer than US?

Errm yeah.. yes.. yah.. indeed. Which expression would your prefer?

Ask yourself how does the United states government generate income for itself? Then ask yourself how the government of nigeria generates it's income...

You'd find that Nigeria is more economically sound than the US

https://en.wikipedia.org/wiki/List_of_countries_by_external_debt

US owes (and has failed to pay) : $17.5 Trillion

NGA owes: 68 Billion

That is a world of difference

Nigeria's oil minister, one person.... Was found with £13 BILLION gbp hidden in an apartment of hers: http://www.thesun.co.uk/sol/homepage/news/6675651/Nigerian-oil-minister-nicked-over-13billion.html

68 Billion is childs play

[Blacula X]

You clearly drank too much of that Detroit tap water. Full of nasty neurotoxins, that. Should have invested in Evian.
- I have no Aunt Sally, in Detroit or elsewhere.
- Made actual folding money from Bitcoin enthusiasts like yourself.
- Don't care about negative interest rates, keeping your money in a savings account is the second-dumbest thing to keeping it in BTC.
- Do not oppose the government. Not born in US, came here, like it just fine. Bitching would be a dick move.
- Swim to Nigeria, the prince is askin' for you.

Don't get how you made money when you converted to USD.

dumping digital tokens I acquired for next to nothing and getting paid in IRL folding money, that's how. Feelsgoodman.gif

People don't understand the dollar does not have a fixed value. It literally decreases over time. Each and every one of you that convert into dollars and then sit there and say you "made money" make me laugh.

lol, if the dollar dropped in value since I sold BTC, and BTC dropped in value rel. USD, then... Talk about tanking

You've got to keep that sum bitch moving across the entire spectrum of asset classes, because there is action to be had EVERYWHERE. But being an economical noob, this has gone over your head. Not to worry, now that I've mentioned it - you'll never forget.

Bro, either cut down on that nasty Detroit tap water or you gotta stay away from DNMs for a bit. Maybe both.

[fenican]

the world's largest military

Wrong China has had the world's largest military for years now.

Nearly every credible ranking puts the US at #1, Russia at #2, and China at #3. All credible sources agree China has the ability to defend its mainland very well but has virtually no ability to project power particularly over oceans. The Chinese deep water navy is a joke and their air force is lacking both quantitatively and qualitatively. Empirically, the US has ten times as many aircraft carriers and about six times as many aircraft as China as well as an almost infinite qualitative advantage. Every US F-22 could shoot down about 4 Chinese aircraft before they might down it with a lucky shot and a US Carrier Battle group, one of them, would be about an equal match for the entire Navy of China.

[Cereberus]

Bitcoin is better for countries that are struggling with their banks. Imagine if Greece adapted to bitcoin 2-3 years ago. They would not be in the chaos they were in last year. What bitcoin can do for countries in economic turmoil could save them from disaster. Only if they knew about it first.

If they adopted it 2-3 years ago, they'd be dirt poor. Bitcoin was $1200 2.5 years ago.

Not if they invested it in another commodities. They can't be that dumb to rely on only one thing in investing into. They did invent civilization after all 

[Ultrafinery]

...

Wait, Nigeria and Zimbabwe are richer than US?

Errm yeah.. yes.. yah.. indeed. Which expression would your prefer?

Ask yourself how does the United states government generate income for itself? Then ask yourself how the government of nigeria generates it's income...

With Nigerian Prince scams? I dunno.

You'd find that Nigeria is more economically sound than the US

Guessing you huffed a lot of gas as a child, am I right?