Bitcoin hits $100
- Thread starter lcver
- Start date
Quick everyone! Buy bitcoins!
Feel bad for everyone late to the party.
Late? It's going to a million.
This whole premise of Bitcoins is so utterly fucken stupid that I... I don't know.
You know the most ironic thing? The largest proponents of Bitcoin are the people who bitch the loudest about government fiat currency, because they say it's not backed by anything tangible. All the while the government has land, tax revenue, military, natural resources, and list the goes on forever. However, according to them, apparently a bunch of randomly generated computer hashes created anonymously across the world is the currency of the future.
Does anyone else see how utterly fucking stupid that is, or is it just me, and the whiskey talking?
You know the most ironic thing? The largest proponents of Bitcoin are the people who bitch the loudest about government fiat currency, because they say it's not backed by anything tangible. All the while the government has land, tax revenue, military, natural resources, and list the goes on forever. However, according to them, apparently a bunch of randomly generated computer hashes created anonymously across the world is the currency of the future.
Does anyone else see how utterly fucking stupid that is, or is it just me, and the whiskey talking?
I don't know about those people, but I want to see bitcoin succeed because I don't like how governments can control a currency as they do with the USD (fed. reserve, printing money, devaluing, etc..).
I love the idea that they don't have the direct ability to manipulate bitcoins. Sure, they can try to DDoS, spread propaganda, but ultimately bitcoin is more in line with my belief that a group of thugs, the state, should not have control over a currency.
When you talk about natural resources/military as backing for the USD, you're right. But look at how disastrous that is for people around the world. Petrodollar warfare for instance. They go to great lengths, mass murder, just to ensure the USD remains at strength. Currencies should be left alone, let the market decide the winner.
If bitcoin fails, so be it. But I think it definitely has succeeded in one way, which is similar to the impact of Ron Paul's political platform, it has some people thinking in new ways and challenging the status quo.
They bitch loudest about the fact that government can create as much money as they want, while claiming central bank independence and other bullshit, not the fact that it's backed by nothing.
This is all about who is in control of the money supply, not what is backing it.
And if there is a finite amount of something, it certainly makes it better for the individual rather than government.
Perhaps just a few more people will realise that money isn't something magical that just exists and is great, but it's something that can be very much manipulated and that actually affects everyone.
Just opening people's eyes is probably worth it.
Right, they complain because it's no longer backed by gold, right? However, according to them, computer hashes are an excellent backing for a global currency.
It has 100% everything to do with what's backing it. If I dump some money into Google stock, I get a little piece of Google. They have offices, data centers, thousands of employees, loads of patents and intellectual property, etc. I get a piece of that.
With Bitcoin, I get a hash, or maybe not even that. You don't see the problem with that?
This leads to an interesting question. Lets imagine for a moment that somehow hellfreezes over and becomes the primary global currency. Would that lead to the end of War? Im not talking about war about turf. I am talking about a US style war. The kind of war that is used to manipulate the value of the dollar. Or would they simply manipulate BTC and take control of it, and start new wars?
Everything, even a commodities or gold backed currency is ultimately backed by the fact that people believe in it and use it.
With bitcoin you have something that is finite by design, is not controlled by anyone, and MIGHT eventually be also accepted as a means of exchange.
Also, what the fuck do you get with the USD? You think taxes will ever pay for 110% GBP debt that's growing at an insane rate? Do you think it's ok that trillions of dollars are created all that time to fund ridiculous overspending? Why the USD is ALSO just hashes now on a computer?
I understand what you are saying at we have yet to see whether bitcoin works or not, but to say that a government / USD is reliable is insane. Also where did Google stock come from? That has nothing to do with any of this.
merika will take down the entire fucking Internet before they allow BTC to get any real traction
Do you know how many money making opportunities there are each day in financial markets? You're right, this is a missed opportunity, but no one can get in on every opportunity.
It's going to be a tough lesson for some people to learn.
Ideologically, sure, the cup is half full. But if BTC ends badly, what effect will that have?
There is a lot wrong with the USD, but it is infinitely more reliable than BTC. BTC is decentralized. That's it's primary feature. It's secondary feature is constrained supply.
And so it begins (no offense Brad).
Whatever you do, take your winnings sooner than later, don't be a sucker because when something like this falls, everyone runs for the exits at once (and maybe a guy like me will be standing there, buying BTC on the way down from people desperate to dump it).
Mine litecoin and trade for btc on vircurex. Boom, I just doubled your ROI.
http://dustcoin.com/mining