PoolMinor
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Activity: 1843
Merit: 1338
XXXVII Fnord is toast without bread
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January 14, 2018, 09:59:42 AM |
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orpington
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January 14, 2018, 10:24:33 AM |
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"Buttalik Butterin" Russian jackass!
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Dakustaking76
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January 14, 2018, 10:49:53 AM |
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Just to add to the eternal 'what is money' debate: Money is anything that is commonly recognized as a medium of exchange and store of value. Most societies used seashells, rocks, severed skulls or metals. China invented paper money during Tang dynasty and with fits and starts, it gradually became the standard. Fiat money can’t be consumed and neither can it be used in production. Hence currencies do not have intrinsic value but rather trade on perception of value. As discussed (here), unlike fiat currencies, cryptos are more difficult to inflate, cost money & time to produce and are built around mathematics rather than fraud or politics. Hence, they already reflect the essence of money better than existing money. However, we are still closer to the 1900s than 1920s. There are serious challenges (e.g. depth, acceptance, custody etc). But cryptos & blockchain are the future
Source: https://www.zerohedge.com/news/2018-01-11/henry-ford-dotcom-bitcoinsComplete bullshit definition. It's just some Tyler on ZH talking his book. He used the definition of CURRENCY as the definition of MONEY. Dog shit can be used as currency. Money has mandatory, required traits like fungibility. That Tyler is a scammer. He also ended his post with "but cryptos and blockchain are the future". Just like how every mindless baboon scammer on this forum repeats the same cut and paste phrase "blockchain is the future", "ethereum is the future", "ripple is the future". Bitcoin is a currency, not money. That's why it's called "cryptocurrency", you apes. Cryptocurrencies are designed to centralize, permissioned ledger, non-fungible, Rube Goldberg machine currencies. They sure as fuck aren't money. As if something based on artificial scarcity could be money. You do know scarcity is also a required trait of money, right? And no, scarcity does not mean "artificial scarcity" where some Russian jackass named Vitalik instantly creates a billion scamcoins in his basement by snapping his fingers, and can do the same thing again 5 seconds later. That does not qualify as scarcity. Neither does bitcoin. Artificial scarcity is not scarcity. Silver and gold are money. Bitcoin is a currency just like US dollars and airline miles. Have you noticed the common denominator of currencies yet? They're generally all based on artificial scarcity. Ughl roach cant u Just go away n44b Only complaining about bitcoin, Just buy it man while it still can...! Stop trying to scam people and claim garbage based on artificial scarcity is "money". From my example above, any idiot can tell that if Buttalik Butterin can snap his fingers and create a billion scamcoins in his basement then do it again 5 seconds later that is neither scarcity nor money. It qualifies as a currency only because almost anything can qualify as a currency, but it damn sure does not qualify as money. Oke explain us what are you doing here if your against bitcoin??? But give us a good explain, Why?
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bitcoinPsycho
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Activity: 2646
Merit: 2413
$120000 in 2024 Confirmed
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January 14, 2018, 10:52:27 AM |
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Just to add to the eternal 'what is money' debate: Money is anything that is commonly recognized as a medium of exchange and store of value. Most societies used seashells, rocks, severed skulls or metals. China invented paper money during Tang dynasty and with fits and starts, it gradually became the standard. Fiat money can’t be consumed and neither can it be used in production. Hence currencies do not have intrinsic value but rather trade on perception of value. As discussed (here), unlike fiat currencies, cryptos are more difficult to inflate, cost money & time to produce and are built around mathematics rather than fraud or politics. Hence, they already reflect the essence of money better than existing money. However, we are still closer to the 1900s than 1920s. There are serious challenges (e.g. depth, acceptance, custody etc). But cryptos & blockchain are the future
Source: https://www.zerohedge.com/news/2018-01-11/henry-ford-dotcom-bitcoinsComplete bullshit definition. It's just some Tyler on ZH talking his book. He used the definition of CURRENCY as the definition of MONEY. Dog shit can be used as currency. Money has mandatory, required traits like fungibility. That Tyler is a scammer. He also ended his post with "but cryptos and blockchain are the future". Just like how every mindless baboon scammer on this forum repeats the same cut and paste phrase "blockchain is the future", "ethereum is the future", "ripple is the future". Bitcoin is a currency, not money. That's why it's called "cryptocurrency", you apes. Cryptocurrencies are designed to centralize, permissioned ledger, non-fungible, Rube Goldberg machine currencies. They sure as fuck aren't money. As if something based on artificial scarcity could be money. You do know scarcity is also a required trait of money, right? And no, scarcity does not mean "artificial scarcity" where some Russian jackass named Vitalik instantly creates a billion scamcoins in his basement by snapping his fingers, and can do the same thing again 5 seconds later. That does not qualify as scarcity. Neither does bitcoin. Artificial scarcity is not scarcity. Silver and gold are money. Bitcoin is a currency just like US dollars and airline miles. Have you noticed the common denominator of currencies yet? They're generally all based on artificial scarcity. Ughl roach cant u Just go away n44b Only complaining about bitcoin, Just buy it man while it still can...! Stop trying to scam people and claim garbage based on artificial scarcity is "money". From my example above, any idiot can tell that if Buttalik Butterin can snap his fingers and create a billion scamcoins in his basement then do it again 5 seconds later that is neither scarcity nor money. It qualifies as a currency only because almost anything can qualify as a currency, but it damn sure does not qualify as money. Oke explain us what are you doing here if your against bitcoin??? But give us a good explain, Why? it's what happens when you sell 500 btc for $230 BUTTHURT
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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January 14, 2018, 10:53:37 AM |
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But give us a good explain
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Enjel
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January 14, 2018, 10:54:13 AM |
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Gold and Silver are two of the most heavily manipulated commodities in existence, especially if you live in the US.
They haven't even done well (they've done terribly) against holding the USD at 0% interest.
Bitcoin becomes money if people believe in the Bitcoin brand, it being the first coin. Limited supply and fungibility? Check.
I've always wondered why the Bitcoin price, despite technological inferiority, rose so much recently. It's not just because Bitcoin is constantly changing, but rather that people believe in Bitcoin for itself, and its history.
The only thing that Ag and Au have for them are the facts that they have endured their value as money for a long long time. They are highly overvalued compared to their utilitarian use value.
So, as Bitcoin survives more and more, it will further fulfill its role as money.
There is just one big BUT: Unless something comes along that threatens Bitcoin's security - just like alchemy would destroy the value of gold, quantum computing or other threats could potentially destroy Bitcoin.
These threats just need to be adapted to, and things are fine. There are obviously more threats to Bitcoin than to the precious metals... but Bitcoin has survived a lot.
I read r0ach's blog, and it's just like a broken clock thing... eventually you will be right.. but at what cost?
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Last of the V8s
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Activity: 1652
Merit: 4392
Be a bank
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January 14, 2018, 10:55:14 AM |
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"Buttalik Butterin" Russian jackass!
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bitcoinPsycho
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Activity: 2646
Merit: 2413
$120000 in 2024 Confirmed
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January 14, 2018, 10:57:21 AM |
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"Buttalik Butterin" Russian jackass!
is that roach?
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Last of the V8s
Legendary
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Activity: 1652
Merit: 4392
Be a bank
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January 14, 2018, 11:02:17 AM |
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"Buttalik Butterin" Russian jackass!
is that roach? no not that scammer a different one - Vitalik Buterin
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Icygreen
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Activity: 1463
Merit: 1135
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January 14, 2018, 11:12:58 AM |
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I know this is off topic, but it appears someone spammed the BCH mempool, recently. It appears some of the pools are electing to only mine 1MB blocks, others 2MB blocks and a couple the full 8 MB blocks. https://cash.coin.dance/blockshttps://jochen-hoenicke.de/queue/cash/#24hWhat's the point of having big blocks when one of the mystery miners will only mine 1MB blocks? That 35K BTC whale is still sending out huge batches of "spams" to BTC chain since Dec. 20, 2017. You know that's the day when Coinbase decided to list BCH in the middle of night with nothing more than a twit and 1 hour notice on blog, and a certain someone go on CNBC and said that BTC is useless and people should keep their BTC on exchange just in case that miner decides to switch off on mass, and satoshilite decides to twit that he had sold all his LTC holdings, and of course that is also the start of correction from 19K+. I guess someone had finally decided that everyone can play the same game, except that instead of costing that 35K whale around 500K~1.5 mio fiatcoin per day to "stress-test" the BTC network, it actually cost zilch to do the same to even 8 MB chain. Ironically, over 2K BTC fee spent so far on stress-testing actually make the fee market and BTC tx count look far better than it really is. It didn't do jack to the "true vision of Satoshi" chain except to make people "fee arbitrage" to ETH and XRP, with some to LTC. Of course, at the current burn rate, that 35K BTC whale can keep this up for more than a year if he doesn't mind blowing away all those BTC on fees. Even then, it is still possible to pay nominal tx fees and then pay those "out of band" fee via fiatcoin to various mining pool accelerators to take up space in the next block. So people can play this war of attrition as long as they have the BTC, fiat, and willingness to do so. But in the end, I suspect that it is still going to do jack, not getting even some personal satisfaction or schadenfreude from all these money that could have been simply used to pump own ALT coin. Imagine if that 35K BTC whale spamming the network was one of the mining cartels. I'd imagine it might even be profitable. Spend XXX on spam transactions and receive XXXX on high cost transactions. We need an ASIC killer me thinks. Hope lightning will be the one and it is secure.
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realr0ach
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Activity: 924
Merit: 311
#TheGoyimKnow
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January 14, 2018, 11:15:42 AM Last edit: January 14, 2018, 11:30:48 AM by realr0ach |
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getting sick of these cheesy youtube pump videos 'everyone was talking about bitcoin at the casino today. whats with this bitcoin thing? is it a bubble? well i have 5 cars and bitcoin has risen 10,000,000% and I know these whales and let me tell you what they have to say...'
If Tai Lopez isn't the signal for the top of craptocurrency, I don't know what else could be. Maybe Matthew Lesko, but he's probably dead. Of course someone even worse like John Mcafee could show up, but I doubt that will ever happen.
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WellAllowMeToRetort
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Activity: 3
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January 14, 2018, 11:56:08 AM |
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getting sick of these cheesy youtube pump videos 'everyone was talking about bitcoin at the casino today. whats with this bitcoin thing? is it a bubble? well i have 5 cars and bitcoin has risen 10,000,000% and I know these whales and let me tell you what they have to say...'
If Tai Lopez isn't the signal for the top of craptocurrency, I don't know what else could be. Maybe Matthew Lesko, but he's probably dead. Of course someone even worse like John Mcafee could show up, but I doubt that will ever happen. [But why are you here, day in day out?, I mean it's the weirdest thing, like a pedophile lurking outside a school gate]
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JayJuanGee
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Activity: 3878
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Self-Custody is a right. Say no to"Non-custodial"
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January 14, 2018, 11:59:39 AM |
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Finally the attempt at the weekend dump. Well behind schedule.
Let’s see if it can get anywhere.
yeah, I would be fairly confident about getting filled around 13300, but I am feeling greedy and am set up around 11000
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luckygenough56
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January 14, 2018, 12:01:53 PM |
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Biggest problem with Bitcoin is always its interaction with fiatcoin.
What kind of statement is this lol ? Btc would worth nothing without fiat, not to mention imaginary tether fiat. well, we're still in 2013 track, dump to 2000 coming soon
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TERA2
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Deb Rah Von Doom
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January 14, 2018, 12:13:54 PM |
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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January 14, 2018, 12:18:36 PM |
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But give us a good explain
And, please explain where is dee roachie poachie in all of this? What is dee Roachie poachie saying/doing? Making dumb, anti-semitic and non-topical points, right? Or trying to pump some kind of irrelevant and underperforming PM?
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El duderino_
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BTC + Crossfit, living life.
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January 14, 2018, 12:48:17 PM |
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Would be better testing 20k
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kurious
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Activity: 2590
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January 14, 2018, 12:58:15 PM |
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Sheeit. Gonna test $13k again, I reckon.
Afraid so, we have been in a down channel since 17200. It's a slow burn, though - it is possible to buy low and sell the bounces to maintain your fiat value as it slides if you're careful. No sign of a turn in the trend yet, though.
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ivomm
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All good things to those who wait
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January 14, 2018, 01:09:13 PM |
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Let's hope this was the last bunch of desparate taxi drivers who bought at 20K and dumping at 13K
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Deeyoh
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January 14, 2018, 01:15:26 PM |
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OT: https://txhighway.com/Pretty funny with the current spam attack underway on Bitcoin Cash. Every once in a while, the top row gets totally slammed with cars (spam), and the audio stacking up is hysterical. What the heck is that laughing thing?
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