JOE WEISENTHAL calls bitcoin a joke. I'm laughing all the way to the bank.

[crazy_rabbit]

After reading a particularly nasty piece of 'journalism' : http://www.businessinsider.com/bitcoin-is-a-currency-for-clowns-2013-11

I thought I would create a meme for it.



You should read about his 'investments' in his bio.

Make your own:



here:
http://memegenerator.net/


A bit about our 'friend':

Joe Weisenthal
Prior to joining Business Insider in October 2008, Joe was a correspondent for paidContent.org, as well as the Opening Bell editor at Dealbreaker.com. He previously was a writer and analyst for Techdirt.com, and before that worked as an analyst for money management firm Prentiss Smith & Co.

He got started writing with his own infrequently updated blog TheStalwart.com. A graduate of The University of Texas at Austin, Joe's interests include Chinese food, chess and poker.

He currently has the title of Executive Editor.

Reach him at jweisenthal@businessinsider.com or IM him anytime at openfilerook.

You can also call him at 917-621-7438

Disclosure: Joe's investments include various index funds, gold as well as individual positions in Apple, American Apparel, BP, Google, Johnson & Johnson, Kyocera, Nokia, Sanofi Steelcase, Posco, Omnivision, Berkshire Hathaway (a B share!), Smith & Wesson and AIG.



Read more: http://www.businessinsider.com/author/joe-weisenthal#ixzz2jxgkBUoa

[philip2000uk]

Yep...and that norweigan guy too who had bitcoin sat in his new apartment from the money he made.  

[crazy_rabbit]

Yep...and that norweigan guy too who had bitcoin sat in his new apartment from the money he made. 

I'm sure that guy is kicking himself for not waiting and buying a BIGGER apartment. :-)

[thecomputerscientist]

Weisenthal said that Bitcoin is intrinsically worth nada, and responds to those Bitcoin supporters that say USD by the same definition is worth nada, but Weisenthal then claims that USD is intrinsically worth something because the US government says it is worth something.

Now this is wrong in two aspects:

1) USD is worth something not because the US gov says so, but because China says so. The day China says that USD isn't worth anything, the USD will collapse.

2) What would happen if China says Bitcoin is the new world reserve currency? At that day Bitcoin will have intrinsic value by his own definition. So the only thing we can conclude is that he thinks that this can never happen.

But it can! China has on multiple occassions wanted to dethrone the USD as world reserve currency and replace it with EDR (Extended Drawing Rights). However, I think that the day will come when China realizes that Bitcoin is a much better solution than EDR. And when that happens, Bitcoin will have a market cap of 10 trillion USD at least which would imply around $1000000 per Bitcoin.

[BittBurger]

Everybody remember this guy's name, so that we can swamp him with "I told you so"'s in 5 years.

I have a list of names of shit talkers on my facebook list who are going to get an earful one day.

[BadAss.Sx]

When China dumps their dollars on the world market, it is over for the US dollar. En China is already pointing to a new world currency and my guess is that Bitcoin is one of the candidates.

The reason why this guy is talking crap about Bitcoin is because they are all politicans. When someone or something is rising up, they starting to throw dirt to it. They are doing the same with Bitcoin, because they can't get a hand on it. Just let them talk...i know for sure they bought a few bitcoins also hahahaha

[justusranvier]

Everybody remember this guy's name, so that we can swamp him with "I told you so"'s in 5 years.

I have a list of names of shit talkers on my facebook list who are going to get an earful one day.

That's why I started this thread: https://bitcointalk.org/index.php?topic=326656

[Sustainable]

No-one literally cares about this man, for me he has 0 credibility. But he is entitled to his opinion stop defacing his name. The opinion is terribly uninformed but I mean why post phone numbers and stuff please get a life.

[proudhon]

Intrinsic value, subjective value, objective value...here's my question to Joe:  If somebody wants to buy bitcoins, and I have some I want to sell, how much should I sell them for?

[LiteCoinGuy]

When China dumps their dollars on the world market, it is over for the US dollar. En China is already pointing to a new world currency and my guess is that Bitcoin is one of the candidates.

no way. we can be happy if they are ok with bitcoin in the long run.

[Ipsum]

Weisenthal said that Bitcoin is intrinsically worth nada, and responds to those Bitcoin supporters that say USD by the same definition is worth nada, but Weisenthal then claims that USD is intrinsically worth something because the US government says it is worth something.

Now this is wrong in two aspects:

1) USD is worth something not because the US gov says so, but because China says so. The day China says that USD isn't worth anything, the USD will collapse.

That is a fundamental misunderstanding among the tinfoil hat crowd on this site.

USD is worth something because ultimately it's backed by an army that can insist you pay your property tax in USD, and because it's backed by the outflow of payments from the US government, which only pays its people and contractors in USD.

[dominicwin]

Bitcoin made my 401k look like a joke in under a year. I bet this guy wouldn't deny a gift of bitcoin

[Savior]

Yep...and that norweigan guy too who had bitcoin sat in his new apartment from the money he made. 

I'm sure that guy is kicking himself for not waiting and buying a BIGGER apartment. :-)

He only sold 20% of his coins, he is a believer

[thecomputerscientist]

That is a fundamental misunderstanding among the tinfoil hat crowd on this site.

USD is worth something because ultimately it's backed by an army that can insist you pay your property tax in USD, and because it's backed by the outflow of payments from the US government, which only pays its people and contractors in USD.

No way. The USD wouldn't have its value if China didn't approve it. This is because USD is currently the world reserve currency. U.S. army would not be able to invade China, because China has nuclear weapons. U.S. has 17 trillions of debt and if the creditors (for which China is one) wouldn't approve USD then U.S. will default, USD will collapse and U.S. gov would not be able to finance its army and therefore it wouldn't be able to protect its own nation, and then riots everywhere and the society collapses along with the USD.

[inform]

i am say price be up 70$


how be price 300 not any trust [look for this guy yelow pres but this say joke buy crypt comunity know what be true future]


Now all gus/clowns/sceptics and etc is panic 

say how you telepatic know about this situation


P.S
i think who realy know now broke how i am and realy cry about this situations how bitcoins up 250$ 300$ maybe next price 400$



Who Know True

[wopwop]

You guys are really major assholes lol, got a small penis or smth? Otherwise I can't explain your jaleous and unmanly behaviour

[Lauda]

You guys are really major assholes lol, got a small penis or smth? Otherwise I can't explain your jaleous and unmanly behaviour

Explain why?
He's an idiot obviously or trying to push the price down. Same stuff with the recent news on how bitcoin is flawed and mentioning 51%, while this has been known for a long time.

[moderate]

We all like bitcoin around here but you have to assume that raising from 265 to 324 in half a day for something that has no reason to spike like that is close to a joke. It would be just as crazy if it went from 265 to 206 in the same period, it is way too unstable.

[wopwop]

You guys are really major assholes lol, got a small penis or smth? Otherwise I can't explain your jaleous and unmanly behaviour

Explain why?
He's an idiot obviously or trying to push the price down. Same stuff with the recent news on how bitcoin is flawed and mentioning 51%, while this has been known for a long time.

Why are you afraid of what he says? You think those guys buy saying bad stuff about bitcoin will cause it to fail? That's kinda pathetic braw

[Lauda]

Why would someone be afraid of words?
Ugh this nonsense.