realr0ach
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#TheGoyimKnow
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December 07, 2017, 06:21:28 PM |
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and right now is best used as a digital store of value
No, bitcoin is not "a store of value", no more than dogecoin or airline miles are a "store of value". At the end of the day, the only type of endgame anyone wants from a monetary instrument is to receive a physical good or service for it. This is why commodity currencies are the only real form of money, because they are not IOUs, and thus have no counterparty risk. Just like fiat paper, bitcoin is nothing more than a debt instrument or IOU because it cannot actually be used for anything. You are hoping to trick someone into giving you something of use for your something of no use. One could even argue bitcoin is worse than fiat since even if the value of paper money goes to zero, you can at least set it on fire to keep yourself warm. The bitcoin forum is plagued with people who have no understanding of money, and scammers who just flat out lie about what the difference in money and currency is. Bitcoin is not money. Although not debt issued like USD, it's just another debt instrument currency.
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AlcoHoDL
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Activity: 2520
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Addicted to HoDLing!
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December 07, 2017, 06:24:21 PM |
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Bitcoin was released right at a time where the bankers knew debt based fiat was going into cascading deflationary collapse since in this fraudulent system debts are considered assets instead of liabilities. This is why the evil Jew sheklers running the system starting spamming the phrase "helicopter money" and "basic income" as an actual serious proposed solution. The system either collapses in deflation, or they print and....it collapses anyway, just a few days later from hyperinflation.
If used as a dollar substitute, bitcoin for all intents and purposes IS helicopter money (bitcoin currently is a dollar derivative and not substitute). So they probably released this bullshit as part of that plan. It's just that the market was completely cornered due to ASIC manufacturers right after it was released, making distribution terrible, rendering the entire exercise pointless and not "helicopter money" anymore since the so called money only goes to a couple people. It appears they continued with their pointless plan anyway and tried to raise the bitcoin price. After this move completely fails to raise money velocity or do anything for the economy, there will be some type of implosion and they will do real helicopter money or basic income into people's bank accounts.
Actually r0ach, Bitcoin wasn't a spawn by the evil jew banksters. Bitcoin was really a conspiracy created by the aliens. Or more specifically, the Scientologists. You see, L.Ron Hubbard was directly giving the Bitcoin blockchain technology by the aliens. He gave it directly to David Miscavige upon his passing. Mr. Miscavige then got together with fellow Scientologists Tom Cruise, John Travolta, Gavin Andresen, and Will Smith and concocted a master plan to release Bitcoin upon the world to take over all worldwide fiat monetary control, before The Great Alien Invasion could begin in earnest. It wasn't until Leah Remini spoiled their evil plans by breaking free of the Scientology cult and releasing the Bitcoin codebase as open source, and also sending the first workable developer version to Mt. Gox CEO Mark Karpelès. Then all hell broke loose... You know, when we were discussing seasteading, I thought of LRH's Sea Org...
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jojo69
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diamond-handed zealot
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December 07, 2017, 06:27:01 PM |
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OK...ok...ok
Just sit still and breathe deeply into the NASA logo barf bag and perhaps you won't have to actually use it.
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SecondLeoTheSecond
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Activity: 53
Merit: 0
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December 07, 2017, 06:34:34 PM |
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This is all going to end in tears.
Lots of people going to cry over not jumping on the train. Exactly. I also see more buying than selling. This is it I guess. Price will go up, and up, and up! And will not come down. People will work for pennies for them bitcoins. Seriously now, someone does not want common folk to get inside at a reasonable price. WTF is this?? https://www.youtube.com/watch?v=jPLKXEUm0jEif this price is reasonable we will only know in a couple of years Or you can do some fundamental analysis and make a conclusion right now. Educated guess: Overvalued for the moment. If the hivemind decides to hodl till LN is in a usable state we will stay here and just keep going up. If you can start paying with tulips, they don't rot, you can't just make more and you can easily give tulips to whomever you want, then why not use tulips?
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valerie_zurich
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Activity: 197
Merit: 100
Valerie, spokesperson for cryptocoincharts.info
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December 07, 2017, 06:38:26 PM |
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Bitcoin now reaching $16k. How far would it go? Come comment on our daily chart segment.
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vapourminer
Legendary
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Merit: 4019
what is this "brake pedal" you speak of?
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December 07, 2017, 06:42:05 PM |
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please, someone turn off my internet. I can not get a single thing done
yeah. even my wife watches the price now. we need a new poll with different numbers. 17,000+ USD??? this is just.. well.. uhh.. dunno what it is but its a cool ride!
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btcbeliever
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Activity: 232
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December 07, 2017, 06:48:39 PM |
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please, someone turn off my internet. I can not get a single thing done
yeah. even my wife watches the price now. we need a new poll with different numbers. 17,000+ USD??? this is just.. well.. uhh.. dunno what it is but its a cool ride!
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jojo69
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diamond-handed zealot
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December 07, 2017, 06:49:17 PM |
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Ok.
I've kinda had it with Coinbase, Kraken and Genesis (fuck Gemini... don't feel like jumping through their hoops for $25k minimum... I get enough backdoor action as it is...)
This rally has exposed, to me, the utter state of shambles the "major Bitcoin exchanges" are in for handling a level of action over $1M USD for personal accounts.
Talk about 0.1%'er problems, huh ?
Frankly, I'm really upset with how long it's taking me to get acknowledgements that it's "safe" for me to proceed at the level of play I'm looking for, at the various exchanges I'm "validated" at.
What more do they need from me, for Christ's Sake ?!?
Fuck.
Yeah, they can not even provide reliable service. The GDAX status said they were "investigating" the problem. The "problem" is the suits have been stuffing their pockets so hard they have not even implemented a dynamic scaling strategy. It is disappointing and embarrassing. They are bad, and they should feel bad.
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Syke
Legendary
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Activity: 3878
Merit: 1193
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December 07, 2017, 06:53:00 PM |
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Ok.
I've kinda had it with Coinbase, Kraken and Genesis (fuck Gemini... don't feel like jumping through their hoops for $25k minimum... I get enough backdoor action as it is...)
This rally has exposed, to me, the utter state of shambles the "major Bitcoin exchanges" are in for handling a level of action over $1M USD for personal accounts.
Talk about 0.1%'er problems, huh ?
Frankly, I'm really upset with how long it's taking me to get acknowledgements that it's "safe" for me to proceed at the level of play I'm looking for, at the various exchanges I'm "validated" at.
What more do they need from me, for Christ's Sake ?!?
Fuck.
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Spaceman_Spiff_Original
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December 07, 2017, 06:53:41 PM |
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Anyone else having issues logging into stamp? 2FA brings me right back to login page.
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HairyMaclairy
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Degenerate bull hatter & Bitcoin monotheist
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December 07, 2017, 06:57:01 PM |
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Anyone else having issues logging into stamp? 2FA brings me right back to login page.
I can log in.
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metacoin
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December 07, 2017, 06:57:09 PM |
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and right now is best used as a digital store of value
No, bitcoin is not "a store of value", no more than dogecoin or airline miles are a "store of value". At the end of the day, the only type of endgame anyone wants from a monetary instrument is to receive a physical good or service for it. This is why commodity currencies are the only real form of money, because they are not IOUs, and thus have no counterparty risk. Just like fiat paper, bitcoin is nothing more than a debt instrument or IOU because it cannot actually be used for anything. You are hoping to trick someone into giving you something of use for your something of no use. One could even argue bitcoin is worse than fiat since even if the value of paper money goes to zero, you can at least set it on fire to keep yourself warm. The bitcoin forum is plagued with people who have no understanding of money, and scammers who just flat out lie about what the difference in money and currency is. Bitcoin is not money. Although not debt issued like USD, it's just another debt instrument currency. Okay, everything you said is correct (except for that image) but you're moving the goalposts here by re-defining what "money" means. It is true that gold and silver have intrinsic value but it's also true that collective delusion creates "money". In your opinion it would be more accurately called an IOU but most people call it money because money is usually defined as the most efficient way to trade things without bartering. You certainly can't pay for a hamburger with silver but you might be able to buy lunch with Bitcoin or another crypto-currency soon. I already pay for my servers using Bitcoin. Maybe you're right and it would be better in a hypothetical universe if we used silver or gold as a transactional unit. How would online purchases work in that case? Bitcoin is the only way to trade value using a decentralized network.
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arklan
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December 07, 2017, 06:58:10 PM |
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Anyone else having issues logging into stamp? 2FA brings me right back to login page.
Same. Can't sell it withdraw.
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philip2000uk
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December 07, 2017, 06:59:45 PM |
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I'm wandering...who's going to buy bitcoin at a million and thinks it's a good price?
I'm for it being used not just for selling when it gets to a mill
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600watt
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December 07, 2017, 07:02:22 PM |
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Anyone else having issues logging into stamp? 2FA brings me right back to login page.
Same. Can't sell it withdraw. stamp and kraken are giving up. coinbase gave up. bitcointalk is giving up. it is just like 2011 and 2013 with mt gox normally this would be the top, crash following. the only difference is this time: korea is gentlemen.
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Torque
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December 07, 2017, 07:04:38 PM |
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I'm wandering...who's going to buy bitcoin at a million and thinks it's a good price?
Celebrities, politicians, wealthy elite banksters, mafia leaders, drug lords, kings and queens, Warren Buffett, and finally.... Jamie Dimon.
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AlcoHoDL
Legendary
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Activity: 2520
Merit: 4630
Addicted to HoDLing!
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December 07, 2017, 07:05:24 PM |
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It's extremely difficult to create BTC, and that gives Bitcoin value, just like gold and silver are difficult to mine, and that gives them value.
I dare anyone who says Bitcoin has no value, to make one now and send it to me. Can you? If not, then STFU!
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arklan
Legendary
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December 07, 2017, 07:05:53 PM |
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Anyone else having issues logging into stamp? 2FA brings me right back to login page.
Same. Can't sell it withdraw. stamp and kraken are giving up. coinbase gave up. bitcointalk is giving up. it is just like 2011 and 2013 with mt gox normally this would be the top, crash following. the only difference is this time: korea is gentlemen. Seeing as I can't sell, I sincerely hope you're right. Also, psy's song, gentleman, seems relevant, seeing as he's Korean. Gentleman https://g.co/kgs/kt8qXK
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gentlemand
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Welt Am Draht
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December 07, 2017, 07:08:42 PM |
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the only difference is this time:
korea is gentlemen.
The Korean market's days are numbered in their present form if this bonkersdom continues. They won't permit it to carry on as it is. They're just as lashed up as the Chinese market was in 2013.
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mike4001
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December 07, 2017, 07:10:25 PM |
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Geeeeeeeeeeeeez.....$17,800
OMG
Well not really. some Korean exchanges are at 19.000+ USD but you cannot really see this as our price. Bitcoinaverage is at ~16.000 atm
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