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Author Topic: Roubini attacks bitcoin, groan...  (Read 1471 times)
hyunsookmom (OP)
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March 10, 2014, 03:31:34 PM
 #1


http://www.cnbc.com/id/101479123


I have two possible opinions about this latest attack of bitcoin, so many attacks by the way! it's almost as if it's a concerted plan to destroy it. Smiley


So from knowing about Roubini in regard to Gold he a couple of years back attacked it relentlessly just before it plummeted in value. Which on my conspiracy believing days makes me think he is used by global powers as a puppet for those who manipulated gold through paper deriveratives. If there is any truth to this I could go ahead and put two and two together and wonder if bitcoin is about to get a bit of price manipulation? I keep hearing about large amounts of Bitcoin moving around, a planned dump coming? Big players maybe even the FED dumping previously bought up coins?


And of course the other way I could look at this is the guy is a friken idiot who doesn't know his ass from his elbow. What a chump saying you can hack it.....The only hack of course is him.






seriouscoin
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March 10, 2014, 03:35:26 PM
 #2

now we know he lost btc on MtGox..... Roll Eyes
franky1
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March 10, 2014, 03:54:28 PM
 #3

i never listen to people like Roubini that say "hacking credit cards is rare"

guess he never heard of identity theft, card cloning, pick pocketing and many other things that affect millions of people.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
redhawk979
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March 10, 2014, 08:59:56 PM
 #4

Everyone with an even slightly credible complaint against Bitcoin is automatically wrong.
elebit
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March 10, 2014, 09:27:42 PM
 #5

This is not even criticism about Bitcoin. This is just nonsensical rambling about hacking and Bitcoins.

It's sad how most people sound more sure of themselves when they are clearly out of their depth than when they are in their area of expertise.
xingqiaoyin
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March 10, 2014, 09:32:56 PM
 #6

He's old school economist who doesnt understand technology reminds me of US cavalry officers pre WW2 who expressed disdain toward tanks.

Ps : Gen Patton was among them Wink
daviducsb
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March 10, 2014, 09:43:50 PM
 #7

Roubini is a broken clock that is right twice a day. Next.
Bigeyeone
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March 10, 2014, 09:50:33 PM
 #8

A lot of people in general have problems with new things, my dad refuses to use internet banking for example, because of all the news he hears about hackers.

and well when it comes to new tech internet money well, people gonna distrust that more then any new technology, precisely because it is money, the one thing you need because you can exchange it for all other things, hey old-timer here is a program, it holds some numbers, put it on your computer and you can pay for stuff with it, yes really it is the future . a lot of people are just gonna go, you crazy dude?  that not money, because it is not the money they know. that they are familiar with.

and I think when we like really honest to ourselves, bitcoin is still an experiment, so far so good, but whether or not it will really succeed as a global online currency we don't really know, i think so, but I don't know, I could be wrong. old-timer could be right.

Like how sure are you of bitcoins future ?

would you like your entire retirement fund in bitcoins ?

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corebob
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March 10, 2014, 10:04:16 PM
 #9

I always get surprised by economists. They seem unable to look more than a couple of weeks back.
If you look at the price history for the last 5 years, it looks very healthy indeed. The bump in December 2013 also looks very similar to the bump we had in April 2013, just a few scales bigger.

Thinking about it, this is probably good news anyway. If you spent your entire life studying fiat currencies, you won't like bitcoin, and for a good reason I suspect.

edit:
The CNBC talk in that article is quite sober actually.
jupit.re
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March 10, 2014, 11:26:10 PM
 #10

Agreed, even if Bitcoin is a great financial technological advancement, it's still quite volatile, but considering the Dow Jones' fluctuations over the last 113 years it's almost a safe haven, since most countries do not consider it a currency, but an asset! The Dow Jones was up or down almost 50% every 2 years for the first 90 years since 1900.

By the definition of a Ponzi scheme, the USD is the Killer Whale of all Ponzi schemes - http://en.wikipedia.org/wiki/Ponzi_scheme - imagine 3 to 5 of it's top foreign bond holders selling back their "assets" still holding value backed by global military oppression and possibility of invasion, it would completely throw the US into a situation not dissimilar from one of those epic Hollywood disaster films Mad Max.

Isn't it curious that Russia managed to confront the US immediately with it's Achilles heel, threatening to dump all of Russia's US Bond holdings?! Everyone knows this, that is "important" enough, or has the clarity to understand. However at this point the global economy is so intertwined these kind of threats and notions will not only destroy the US, but affect every nation globally, very few have the resources and the strength to weather the collapse in confidence of this wall of debt. The obvious and visible signs are probably nothing compared to the shadow banking (derivatives market).

Bitcoin would not have been a problem if the global reserve currency wasn't the USD, yes long time friend of the US and the Bushes, Saddam, tried to sell his oil in EURO, and yes Gaddafi, also long time friend of all G7 nations tried to convert the sales of oil for all OPEC countries in Africa and the Middle East to the Gold Dinar, and look what happened to their countries... (also they are dead?!)

Politicians will always be liars, it goes with the job, for better of worse, but when people become complacent and leave all the important decisions to people who obviously serve themselves, of course powerful families and corporations take advantage!

Would most dissenters really act so differently if they were in the same position of power (wealth) given the effort and dedication you would have made to get there? No excuse for immoralities though!

Nouriel Roubini is not entirely credible, in a high estimation he barely got the last downturn prediction correct, he just cried wolf louder than others, some people like the media limelight. Robert Schiller, John Paulson or Peter Schiff have a far clearer and unbiased view of the economy and tend to be much more reserved and knowledgeable in the manner they approach subjects regarding the economy.

This doesn't mean they like Bitcoin, they just do not ignore the facts regarding the USD, it's nearly toilet paper in every way, one just needs to know when the largest holders of the USD are ready to let go and absorb the sunken cost to profit from the such an inevitable decline, the Federal Reserve is just postponing at this point.

Bitcoin may be damaged by the attacks of central banks, as they cannot afford it's success, but the motivated and very talented backers of the crypto currency economy need to work together to overcome it's weaknesses.
ebliever
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March 11, 2014, 02:34:20 AM
 #11

Is there a forum where someone can challenge Roubini? (Or any other ignorant clown that calls Bitcoin a "Ponzi scheme").

Demand they explain:
1. What a Ponzi scheme is.
2. What Bitcoin is.
3. How Bitcoin is a Ponzi scheme.

And ask them not to mind those of us in the cheap seats while we snigger as they flail.  Roll Eyes

Luke 12:15-21

Ephesians 2:8-9
BittBurger
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March 11, 2014, 04:37:25 AM
 #12

Roubini is a broken clock that is right twice a day. Next.

Boom.

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