Author Topic: Bitcoin.  (Read 5281 times)

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Gravlore

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Bitcoin.
« on: November 22, 2013, 01:45:38 PM »
What this currency means to me.

1) Tied to Fiat currencies (you can purchase bitcoin) so it is basically a speculative trade.
2) Early adopters make a killing for simply getting in early. While being an early adopter in a company or another asset is part of commerce, the fact that an early adopter in a currency is the same reason why people hate the 'illuminati'. Those who control the money have the power.
3) Bitcoins big appeal is no central banks can control Bitcoin. So how is it taxed and if it is taxed then there is regulation (the very thing people that own bitcoin do not want).

There are plenty of arguments in favor and against Bitcoin or Litecoin or GravloreCoin etc. Its hilarious to me that people think this is the saviour when all it takes is for governments to purchase all quardrillion bitcoins for whatever the cost and then adopt it as their own. It is tied to Fiat paper so it can be sucked up just as fast as the FED can print and create their own digicrap to pay for it. I am not playing and never will.

Offline wild_E

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Re: Bitcoin.
« Reply #1 on: November 22, 2013, 09:38:30 PM »
I have no idea what a Bitcoin is, Gravlore coin,, maybe !

Offline zeker

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Re: Bitcoin.
« Reply #2 on: November 27, 2013, 03:52:37 PM »
closing in $1000 now. 967
of all the things I,ve lost.. I miss my mind, the most

Offline NObshere

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Re: Bitcoin.
« Reply #3 on: November 27, 2013, 03:58:48 PM »
Still based on an unregulated fiat currency that ain't worth sh-t, and doomed to crash with the current financial system...So let's get them while they're hot..
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Gravlore

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Re: Bitcoin.
« Reply #4 on: November 27, 2013, 07:05:38 PM »
Since someone can buy Bitcoins with dollars then you can bet your sweet ass if the Central banks of the world felt threatened they would print their own currencies to infinity and buy these up for 8 trillion per coin if they wanted to, then scrap it along with the fiat it took to buy up the digital money and taking all the people holding the bag. There will be a currency vacuum since both are destined to fail IMO. Also anyone can create money this way since it is open source (litecoin... ... ...) People will get in early on this too. Then asscoin, chaircoin blah blah blah. Digicrap just like government digicrap. Backed by nothing and in no ones hand.

Offline NObshere

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Re: Bitcoin.
« Reply #5 on: November 29, 2013, 12:47:54 PM »
Never stop...

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Gravlore

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Re: Bitcoin.
« Reply #6 on: November 29, 2013, 07:17:46 PM »
LOL. I have expressed the comments I have made here and other places for the last 3 months. Its awesome that others are thinking the same (comments in zerohedge).

*poster* Captain Benny

"As long as the USD is tied to every other fiat currency and as long as there exists an exchange price between BTC and USD, the BTC valuation can be manipulated.  Imagine the Fed printing lets say $1Billion/month into BTC.... then 6 months later, crashing it 50%, followed be 50% over the next 6 months, then another 20%.....

Did the Fed lose anything?  Nope.  They might have netted zero profit.

Did BTC lose anything?  Yep, confidence due to massive cornering of the BTC price and the fact that the Fed sold BTCs continually into the market to eliminate its massive cornering position."


Amen, and keep preaching!

Gravlore

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Re: Bitcoin.
« Reply #7 on: November 29, 2013, 07:31:37 PM »
Best story ever. Read as a story (no names in it and some foul language, but good)

--------------------------------------------------------------------------------
Harlequin001-

Good morning my good man, what have you got for me today then?

er, the number 71 sir.

What's that then?

Well, it's the number 71. very popular you know, selling like hot cakes.

Brilliant, how much is it?

One thousand one hundred and twenty four dollars sir,

"One thousand one hundred and twenty four dollars, are you f@#$ing nuts?"

Very popular today sir, just sold number 69 and number 53.

Why so expensive?

Because it's a currency sir.

But you said it was number 71!

Yes but it's not just any number 71, itís a 'currency' number 71 you see, it's encrypted.

Why'd you encrypt it?

Well, so no one else can have it, obviously.

Ah, I get it. Ok count me in. Here's the cash, now where's the offending article.

Itís in here sir.

Where?

It's inside sir.

OK, so how do I get it out?

Well you jump in a plane and fly to Canada where there's an ATM somewhere that you can take it out from.

Peachy, just peachy. OK, so where can I spend it?

Any one of these places sir

Hmm, not very long is it? Is this just locally?

Kind of, well pretty much kind of worldwide, but itís growing every day. Of course, most people don't actually 'spend' it, they just hold onto it for a while. If you buy a digital photo frame youíll be able to look at pictures of nice coins you havenít got.

I thought it was a currency? How long do I hold onto it for?

Till everyone else wants to get out I suppose sir.

And then it will be worth how much?

f@#$ing loads sir, very expensive sir, selling like hot cakes.

Sod that, what else have you got?

How about number 71 sir, very expensive, selling like hot cakes?

But I've just bought number 71.

Not in this format sir.

How much is this one?

$1.60 sir.

What? Why so cheap?

Cos nobody wants number 71 in this particular format sir.

Why not?

Because you canít do anything with this one sir.

So why would I want to buy it?

Because everyone else is going to want to buy it very soon.

Why?

Because itís the number f@#$ing 71 sir, and thereís only one number 71.

But thatís what you said last time.

Yes but that was in that format. This is different. Different people already own it.

Youíre f@#$ing nuts. What else have you got?

This oneís just in sir, very special, itís gonna sell like hot cakes sir, number 71Ö

f@#$ that, can you get me a cab?

Not unless youíve got some cash sirÖ

But I've just spent all  that buying this. I know, can I interest you in this number 71 Iíve just bought?

You must be joking sir, Iíve got billions of those in hereÖ


Gravlore

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Re: Bitcoin.
« Reply #9 on: November 29, 2013, 08:09:59 PM »

Offline NObshere

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Re: Bitcoin.
« Reply #10 on: November 30, 2013, 11:40:53 AM »
Snake oil anyone...?
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Offline Primus is Scrounger

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Re: Bitcoin.
« Reply #11 on: November 30, 2013, 01:32:57 PM »
  There is a bit more to digital currency then the speculators/fiat currency angle.  Seems like if they can work out the bugs it could be a useful tool to a prepper.  Put your life savings into it? No, but keep an open mind to it's use as another way of using money.  Google Silk Road

http://www.vice.com/en_ca/read/bitcoin-has-already-morphed-society
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Gravlore

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Re: Bitcoin.
« Reply #12 on: November 30, 2013, 06:23:52 PM »
I can use VISA and Mastercard the same way (digital). The massive swings in such short periods of time in its price tells me there is either manipulation or a very small amount of players. I do think if I had Bitcoin I would do the same as now and spend it as soon as I get it. I have no faith in something that requires 100% faith that it actually exists somewhere. Even with government corruption and crony capitalism I can see the deception. With something like bitcoin it is so vague (yes I have read what it is about and how to use etc) and the rhetoric behind it is that it is the only alternative. Buying data crunching machines means I can control the population if Bitcoin were to be the standard since I would control vast sums of peoples wealth. If I mine and hold 50% of Bitcoin what does that mean for everyone else? Thats right, you my biotch now! Money has to be issued for work/goods and not mined on some BS computer. Thats worse than where we are now. If the currency was finite (like bitcoin) and issued by the governing body, then it works. Bitcoin would work in an Anarchistic society since regulation is not part of the game and a means of trade is required. Pick your poison but I am out. The reason why I like Metals is because my wealth is not in the hands of something offsite or on some flash drive that could be corrupted or fried. PM's can be stolen as well but its a hard asset that I can take with me anywhere, anytime and it never goes to 0.

Offline Primus is Scrounger

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Re: Bitcoin.
« Reply #13 on: November 30, 2013, 08:59:09 PM »
And there is no price manipulation in PM?  Not saying don't hold any but......
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Gravlore

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Re: Bitcoin.
« Reply #14 on: December 05, 2013, 02:06:21 PM »
There is manipulation in everything. I guess it comes down to what money is and isn't. Competing currencies are good and some say private currency is good while others say government. Both are horrible in their own way. The idea of currency is only there for the trade of something of substance. The reason I like PM's is because they are of substance. Perhaps a PM based digital currency would be good but even that has flaws. As soon as you put a human hand into something it can be manipulated. So we humans need this currency for ease of life but yet are the ones that eventually screw it up. That's life I guess.

There isn't really anything that special about Gold or silver. If rhodium was used as money through time then I would buy it. I guess it is perception. Time created the perception of metals as wealth for reasons of scarcity. Perhaps people will have enough faith in cyberspace to hold things for them in the long run. For me, I am stuck in the past I guess.

Bitcoin is far to volatile for me to either accept payment or purchase with. It is a trade for money that is used today (dollars). Time will tell I guess.

Offline NObshere

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Re: Bitcoin.
« Reply #15 on: December 05, 2013, 03:09:10 PM »
Primus, yes the price of PM's is being manipulated on the market. Now that being said, the buying power of gold and silver has remained relatively the same. An example, in the '50's you could buy a house for 100 oz of gold, today you can boy a house for 100 oz of gold. Nothing fancy but you can see my point. If you invest in digital currency, and the lights go out , you have wasted your resources. I'm not coming down on you just giving an alternate point of view.
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Offline wild_E

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Re: Bitcoin.
« Reply #16 on: December 05, 2013, 04:10:34 PM »
OK,,, enough!!
finally found out what a bitcoin is..
now there is a PM.. wtheck is that?
man, I am getting old

Offline NObshere

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Re: Bitcoin.
« Reply #17 on: December 05, 2013, 04:35:39 PM »
Are you living under a rock?...LMAO It's precious metals bud. Just figured it out myself before I posted the last reply http://canampreppers.net/forum/Smileys/aaron/embarrassed.gif
« Last Edit: December 05, 2013, 04:52:44 PM by wild_E »
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Gravlore

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Re: Bitcoin.
« Reply #18 on: December 05, 2013, 05:32:46 PM »
The 100 oz of gold for a house is true. It was also 1000 oz silver for a house. Massive silver disconnect. It is still brought out of mines at a 9-1 ratio but trades at between 50,100-1 ratio. I am loading up on the white metal because it is both useful and pretty.

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Re: Bitcoin.
« Reply #19 on: December 05, 2013, 05:44:54 PM »
Silver is also easier to trade with. Try buying $100 worth of goods with a half oz gold coin, they"ll rip you off on the xchange and give you devalued currency as change.
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