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3 fatal flaws with digital crypto currencies in their present form....

 
Anonymous Coward
User ID: 73587915
France
12/10/2017 01:15 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
Op is spot on and did a good report to clarify this.
If the masses stream one way,you must swim the other in this day and age.
For the stream flows towards the abyss!
Go against the flow to survive!
And the currently needed exercise,it keeps you healthy,physically and mentally!
 Quoting: Anonymous Coward 75955616


Tell us more oh wise one...

Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else...
 Quoting: Anonymous Coward 73587915


How are you fleeing when everything you do with crypto leaves a electronic footprint?

How will anyone be able to deal on the side/barter when it's all electronic,if anything this crypto basically ends all freedom to hide,barter,work undetected.

You're just buying in to make a quick $$ and haven't thought this through long term.
 Quoting: Duncan the destroyer


Says the guy leaving an electronic footprint...
 Quoting: Anonymous Coward 73587915


And to add to that post, I bought in 2013 and plan to hold on to my coin until at least 2020 and re-evaluate from there. I have not made a quick buck, but I have watched my BTC grow in relation to our soon to be worthless fiat! Unlike other get rich quick schemers, I truly believe in the vision of a deflationary, trustless, distributed ledger maintained by the people. Call me an old fashioned Libertarian, if you will.

How is the side/bartering going for you? Better yet, how's the spot price of silver and gold doing this am? At the time of this post, my BTC is hovering between $15-16K.
Affable Serpent

User ID: 75491524
United States
12/10/2017 01:17 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
BTC only has the value it's given.

Much like silver/gold.

I've told you the most valuable commodity - copper jacketed lead.

Mine on........I'll find you.

Last Edited by Affable Serpent on 12/10/2017 01:17 PM
- Do you really think you're free?
- Anything that requires a license, permit, or a tax makes you a serf/vassal to the entity that requires it of you.
Duncan the destroyer

User ID: 75908809
United States
12/10/2017 01:18 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I'll try to explain in a very simple way the reason why bitcoin is worth so much.
The reason the value of bitcoin is worth so much is not in the bitcoin itself, but in the technology behind the bitcoin that is called blockchain.
Blockchain is basically the internet 2.0
Now go do your research on what the blockchain is because I will not be spoon feeding you.

That's the basics that a person should know before talking about it.

Now the question "Is bitcoin in a bubble?"
The answer is: Yes, it is possible that it is in a bubble simply because of the amount of people who are buying without even knowing what the blockchain is.
 Quoting: FeraNenem


So where does this all end?? a one world currency where people are their own banks? really think hard about what will happen should this happen.
Please let me know what you think is the future,I'm truly interested to know.
Duncan the destroyer
Anonymous Coward
User ID: 73587915
France
12/10/2017 01:18 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
...


Tell us more oh wise one...

Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else...
 Quoting: Anonymous Coward 73587915


How are you fleeing when everything you do with crypto leaves a electronic footprint?

How will anyone be able to deal on the side/barter when it's all electronic,if anything this crypto basically ends all freedom to hide,barter,work undetected.

You're just buying in to make a quick $$ and haven't thought this through long term.
 Quoting: Duncan the destroyer


Says the guy leaving an electronic footprint...
 Quoting: Anonymous Coward 73587915


And to add to that post, I bought in 2013 and plan to hold on to my coin until at least 2020 and re-evaluate from there. I have not made a quick buck, but I have watched my BTC grow in relation to our soon to be worthless fiat! Unlike other get rich quick schemers, I truly believe in the vision of a deflationary, trustless, distributed ledger maintained by the people. Call me an old fashioned Libertarian, if you will.

How is the side/bartering going for you? Better yet, how's the spot price of silver and gold doing this am? At the time of this post, my BTC is hovering between $15-16K.
 Quoting: Anonymous Coward 73587915


I bet Duncan the Destroyer calls me a name next. He already tried the "you probably live in your parents basement" line. Pitiful.
Anonymous Coward
User ID: 74976226
United States
12/10/2017 01:18 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I read somewhere that there are 3 fatal pitfalls with a digital bit-coin

#1 In GOD Nobody We Trust

If you think the Global elite bankers are going to sit on the sidelines and let this take over, you are crazy. They are playing us all as fools.


#2 No Guarantees
Exchanges have already been hacked and stolen


#3 No Inherent Value
Just like there is no longer any value in the Fiat Currency we currently use, there is certainly no value in ones and zero's sitting in cyberspace..... Tell me, what is a fair price? A price based on wild speculation??

If you think The Powers that Think They Be are going to sit on the sidelines and let this take over, you are fooling yourself. they are behind this all the way. Just go look at the cover of the Economist magazine from 1988

(unable to paste link from silver doctors commentary)..... /headlines/world-news/world-cryptocurrency-not-gold-backed-yu​an-in-light-of-the-1988-economist-magazine/
Snip "It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes."

Is the value of Bitcoin the value of the flood of monies into the coin? Is this what it is worth? Pure Speculation!

Money that floods into these coins at a break neck speed, is this what gives it its value?

This is the stuff panzi schemes from the 80's were made of, (except now they live in digital world), those who get in early rake in the money from all the suckers, er people who got in late. They tout how they got rich (off OPM) and are living fat n happy now.
WOO HOO - Good for you, for getting in and getting out. Raking in profits on the suckers who came in behind you. Do you truly wear that badge of honor proudly? Do you look down on others who didn't get in? Couldn't get in? Or had the sense that something wasn't quite right with it?

A digital drug, intoxicating to those who jumped in early, those watching and are tempted to jump in now, and to those in control.

The Committee Called "They" call this a currency, Why? How is that possible?

How can there be price stability in a digital currency that has no limits and that is not backed by anything tangible?

The true definition of currency is to exchange one medium for another. Is this not suppose to be with some sort of stability?

If the value of the dollar right now is tagged to this crypto currency, then we are truly witnessing the de-value of our money right before our eyes.

For every dollar that floods into this 'currency', sucks the life blood away from the masses and makes people more dependent on a digital world and now not only a slave to the debt system we currently live in, but now a become a digital slave, more intwined in the wicked web we all helped weave....

You should be proud of your action.

We all know wallets can be stolen, hacked and now the pickpockets can do it while sitting in the comfort of their chair.

Help usher in the new age of coin, it will be implanted on the back of your hand soon enough, where else would it be safe?


But what do I know, this is just my 2 cents which, in my opinion, is worth more than any digital crypto coin...

Put your Trust in Jesus, the End is near....

peace
IMHO
 Quoting: Chugiakian




I 180 degrees disagree.

The cryptocurrencies are trustless. That is a positive, an asset, not a negative.

Guarantees are for people who can't take care of themselves, hence they DEPEND on others. Becoming DEPENDANT. Grow up, take responsibility for yourself and full blame for your actions.

Inherent value is only a concept based upon FAITH. Cryptos don't want to be your God. They are tools. They are not to be worshiped.
Anonymous Coward
User ID: 73587915
France
12/10/2017 01:20 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I read somewhere that there are 3 fatal pitfalls with a digital bit-coin

#1 In GOD Nobody We Trust

If you think the Global elite bankers are going to sit on the sidelines and let this take over, you are crazy. They are playing us all as fools.


#2 No Guarantees
Exchanges have already been hacked and stolen


#3 No Inherent Value
Just like there is no longer any value in the Fiat Currency we currently use, there is certainly no value in ones and zero's sitting in cyberspace..... Tell me, what is a fair price? A price based on wild speculation??

If you think The Powers that Think They Be are going to sit on the sidelines and let this take over, you are fooling yourself. they are behind this all the way. Just go look at the cover of the Economist magazine from 1988

(unable to paste link from silver doctors commentary)..... /headlines/world-news/world-cryptocurrency-not-gold-backed-yu​an-in-light-of-the-1988-economist-magazine/
Snip "It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes."

Is the value of Bitcoin the value of the flood of monies into the coin? Is this what it is worth? Pure Speculation!

Money that floods into these coins at a break neck speed, is this what gives it its value?

This is the stuff panzi schemes from the 80's were made of, (except now they live in digital world), those who get in early rake in the money from all the suckers, er people who got in late. They tout how they got rich (off OPM) and are living fat n happy now.
WOO HOO - Good for you, for getting in and getting out. Raking in profits on the suckers who came in behind you. Do you truly wear that badge of honor proudly? Do you look down on others who didn't get in? Couldn't get in? Or had the sense that something wasn't quite right with it?

A digital drug, intoxicating to those who jumped in early, those watching and are tempted to jump in now, and to those in control.

The Committee Called "They" call this a currency, Why? How is that possible?

How can there be price stability in a digital currency that has no limits and that is not backed by anything tangible?

The true definition of currency is to exchange one medium for another. Is this not suppose to be with some sort of stability?

If the value of the dollar right now is tagged to this crypto currency, then we are truly witnessing the de-value of our money right before our eyes.

For every dollar that floods into this 'currency', sucks the life blood away from the masses and makes people more dependent on a digital world and now not only a slave to the debt system we currently live in, but now a become a digital slave, more intwined in the wicked web we all helped weave....

You should be proud of your action.

We all know wallets can be stolen, hacked and now the pickpockets can do it while sitting in the comfort of their chair.

Help usher in the new age of coin, it will be implanted on the back of your hand soon enough, where else would it be safe?


But what do I know, this is just my 2 cents which, in my opinion, is worth more than any digital crypto coin...

Put your Trust in Jesus, the End is near....

peace
IMHO
 Quoting: Chugiakian

 Quoting: Anonymous Coward 74976226



I 180 degrees disagree.

The cryptocurrencies are trustless. That is a positive, an asset, not a negative.

Guarantees are for people who can't take care of themselves, hence they DEPEND on others. Becoming DEPENDANT. Grow up, take responsibility for yourself and full blame for your actions.

Inherent value is only a concept based upon FAITH. Cryptos don't want to be your God. They are tools. They are not to be worshiped.


hesright
Duncan the destroyer

User ID: 75908809
United States
12/10/2017 01:20 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
BTC only has the value it's given.

Much like silver/gold.

I've told you the most valuable commodity - copper jacketed lead.

Mine on........I'll find you.
 Quoting: Affable Serpent


Sure,how many people are you going to stack up before you run out? if you think for one minute you can fight your way out of what's coming you're delusional.
Duncan the destroyer
Anonymous Coward
User ID: 74159604
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12/10/2017 01:21 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I read somewhere that there are 3 fatal pitfalls with a digital bit-coin

#1 In GOD Nobody We Trust

If you think the Global elite bankers are going to sit on the sidelines and let this take over, you are crazy. They are playing us all as fools.


#2 No Guarantees
Exchanges have already been hacked and stolen


#3 No Inherent Value
Just like there is no longer any value in the Fiat Currency we currently use, there is certainly no value in ones and zero's sitting in cyberspace..... Tell me, what is a fair price? A price based on wild speculation??

If you think The Powers that Think They Be are going to sit on the sidelines and let this take over, you are fooling yourself. they are behind this all the way. Just go look at the cover of the Economist magazine from 1988

(unable to paste link from silver doctors commentary)..... /headlines/world-news/world-cryptocurrency-not-gold-backed-yu​an-in-light-of-the-1988-economist-magazine/
Snip "It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes."

Is the value of Bitcoin the value of the flood of monies into the coin? Is this what it is worth? Pure Speculation!

Money that floods into these coins at a break neck speed, is this what gives it its value?

This is the stuff panzi schemes from the 80's were made of, (except now they live in digital world), those who get in early rake in the money from all the suckers, er people who got in late. They tout how they got rich (off OPM) and are living fat n happy now.
WOO HOO - Good for you, for getting in and getting out. Raking in profits on the suckers who came in behind you. Do you truly wear that badge of honor proudly? Do you look down on others who didn't get in? Couldn't get in? Or had the sense that something wasn't quite right with it?

A digital drug, intoxicating to those who jumped in early, those watching and are tempted to jump in now, and to those in control.

The Committee Called "They" call this a currency, Why? How is that possible?

How can there be price stability in a digital currency that has no limits and that is not backed by anything tangible?

The true definition of currency is to exchange one medium for another. Is this not suppose to be with some sort of stability?

If the value of the dollar right now is tagged to this crypto currency, then we are truly witnessing the de-value of our money right before our eyes.

For every dollar that floods into this 'currency', sucks the life blood away from the masses and makes people more dependent on a digital world and now not only a slave to the debt system we currently live in, but now a become a digital slave, more intwined in the wicked web we all helped weave....

You should be proud of your action.

We all know wallets can be stolen, hacked and now the pickpockets can do it while sitting in the comfort of their chair.

Help usher in the new age of coin, it will be implanted on the back of your hand soon enough, where else would it be safe?


But what do I know, this is just my 2 cents which, in my opinion, is worth more than any digital crypto coin...

Put your Trust in Jesus, the End is near....

peace
IMHO
 Quoting: Chugiakian



1. The global banksters either already do or will attempt to control literally anything and everything anyways...but Bitcoin is the HARDEST for them to control and manipulate. No matter what they do...they cannot change the immutable laws of mathematics upon which it is based. What are the other alternatives?

2. As opposed to the “guarantees” that the stock market offers which is composed of companies that have legal loopholes to in essence cook the books? As opposed to the “guarantees” you have with a savings account, money market, or CD that your interest rate will NEVER AGAIN be higher than inflation and/or the ongoing devaluation of your currency because there is no longer any competition to speak of in banking? As opposed to the “guaranteees all those people had in the traditional system when the savings and loans all went tits up in ‘80’s? Anyways...you’re a fucking idiot if you store them in an online wallet. Three flash drives in three different locations in a faraday cage is your new “savings” account.

3. Nothing has intrinsic value any more. By 2025 no less than FIVE different companies expect to be mining asteroids. Eros 433 is estimated to be worth $4 Quadrillion dollars and has more gold than has ever been extracted from the earths crust along with similar amounts of nickel, silver, copper, platinum, and aluminum. Backing any currency by resources of any kind is an obsolete concept when technology makes them all limitless.

3.
Chuckles

User ID: 64931238
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12/10/2017 01:21 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I argued with my stepfather about the internet in much the same way in 1987. I told him to go all in on it. I asked if I could use my college money.

"There's no value in it. It's just data."

It's okay if you don't get it yet. Your fear is understandable and in the correct cases, understandable (much like fears internet would make illegal activity easier... Which it did)

But you must at least know enough to argue the correct cases and from what you've presented it's clear you are relying on intuition and folksy wisdom rather than research.

You're not incorrect... Just not specific enough.

Regardless, it's here to stay despite your fears. Things are neither good nor evil... It's how we use them.

If you fear, start figuring out how to use it for good.

Last Edited by Chuckles on 12/10/2017 01:39 PM
"Anything worth doing is worth doing badly."
-G.K. Chesterton

"Look at me... being all human."
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Anonymous Coward
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12/10/2017 01:22 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
bsflag
FeraNenem

User ID: 75963112
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12/10/2017 01:27 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I'll try to explain in a very simple way the reason why bitcoin is worth so much.
The reason the value of bitcoin is worth so much is not in the bitcoin itself, but in the technology behind the bitcoin that is called blockchain.
Blockchain is basically the internet 2.0
Now go do your research on what the blockchain is because I will not be spoon feeding you.

That's the basics that a person should know before talking about it.

Now the question "Is bitcoin in a bubble?"
The answer is: Yes, it is possible that it is in a bubble simply because of the amount of people who are buying without even knowing what the blockchain is.
 Quoting: FeraNenem


So where does this all end?? a one world currency where people are their own banks? really think hard about what will happen should this happen.
Please let me know what you think is the future,I'm truly interested to know.
 Quoting: Duncan the destroyer


Where it will end, I do not know. What I know are two things.
1) This is the future and there is no turning back. So it's good to get used to it.
2) There is a risk, and the risk is not in bitcoin. The risk lies in some government like the Russian and the Chinese deciding to destroy the bitcoin by manipulating the market causing overvaluation and then dropping close to a thousand dollars and holding the value in this range while launching another currency to compete with bitcoin.
If that happens we will all be very fucked up because they will have control over people's money and can decide if they can buy, sell or even know where they use the money.
So I think it's good that everyone starts to support Bitcoin that do not have developers who can handle your money while it's time before anyone comes up with this idea.
Gloria Fortis Miles
Adversor et Admorsus
Duncan the destroyer

User ID: 75908809
United States
12/10/2017 01:29 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
...


How are you fleeing when everything you do with crypto leaves a electronic footprint?

How will anyone be able to deal on the side/barter when it's all electronic,if anything this crypto basically ends all freedom to hide,barter,work undetected.

You're just buying in to make a quick $$ and haven't thought this through long term.
 Quoting: Duncan the destroyer


Says the guy leaving an electronic footprint...
 Quoting: Anonymous Coward 73587915


And to add to that post, I bought in 2013 and plan to hold on to my coin until at least 2020 and re-evaluate from there. I have not made a quick buck, but I have watched my BTC grow in relation to our soon to be worthless fiat! Unlike other get rich quick schemers, I truly believe in the vision of a deflationary, trustless, distributed ledger maintained by the people. Call me an old fashioned Libertarian, if you will.

How is the side/bartering going for you? Better yet, how's the spot price of silver and gold doing this am? At the time of this post, my BTC is hovering between $15-16K.
 Quoting: Anonymous Coward 73587915


I bet Duncan the Destroyer calls me a name next. He already tried the "you probably live in your parents basement" line. Pitiful.
 Quoting: Anonymous Coward 73587915


Sorry,no need for name calling!
Answer me this,what do you see happening down the road with crypto? do you really think the powers are going to let this take hold? how do you know they're not the ones behind this and bitcoin isn't one big Beta test to see how the masses react?

My gut feeling is that we are voluntarily putting a noose around our necks to usher in a one world currency by making the get rich quick crap seem so attractive.

Just think how great Facebook was first viewed and accepted by the masses when in reality it's one huge data gathering system for the government.

Money has a way of blinding common sense.
Duncan the destroyer
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12/10/2017 01:30 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I read somewhere that there are 3 fatal pitfalls with a digital bit-coin

#1 In GOD Nobody We Trust

If you think the Global elite bankers are going to sit on the sidelines and let this take over, you are crazy. They are playing us all as fools.


#2 No Guarantees
Exchanges have already been hacked and stolen


#3 No Inherent Value
Just like there is no longer any value in the Fiat Currency we currently use, there is certainly no value in ones and zero's sitting in cyberspace..... Tell me, what is a fair price? A price based on wild speculation??

If you think The Powers that Think They Be are going to sit on the sidelines and let this take over, you are fooling yourself. they are behind this all the way. Just go look at the cover of the Economist magazine from 1988

(unable to paste link from silver doctors commentary)..... /headlines/world-news/world-cryptocurrency-not-gold-backed-yu​an-in-light-of-the-1988-economist-magazine/
Snip "It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes."

Is the value of Bitcoin the value of the flood of monies into the coin? Is this what it is worth? Pure Speculation!

Money that floods into these coins at a break neck speed, is this what gives it its value?

This is the stuff panzi schemes from the 80's were made of, (except now they live in digital world), those who get in early rake in the money from all the suckers, er people who got in late. They tout how they got rich (off OPM) and are living fat n happy now.
WOO HOO - Good for you, for getting in and getting out. Raking in profits on the suckers who came in behind you. Do you truly wear that badge of honor proudly? Do you look down on others who didn't get in? Couldn't get in? Or had the sense that something wasn't quite right with it?

A digital drug, intoxicating to those who jumped in early, those watching and are tempted to jump in now, and to those in control.

The Committee Called "They" call this a currency, Why? How is that possible?

How can there be price stability in a digital currency that has no limits and that is not backed by anything tangible?

The true definition of currency is to exchange one medium for another. Is this not suppose to be with some sort of stability?

If the value of the dollar right now is tagged to this crypto currency, then we are truly witnessing the de-value of our money right before our eyes.

For every dollar that floods into this 'currency', sucks the life blood away from the masses and makes people more dependent on a digital world and now not only a slave to the debt system we currently live in, but now a become a digital slave, more intwined in the wicked web we all helped weave....

You should be proud of your action.

We all know wallets can be stolen, hacked and now the pickpockets can do it while sitting in the comfort of their chair.

Help usher in the new age of coin, it will be implanted on the back of your hand soon enough, where else would it be safe?


But what do I know, this is just my 2 cents which, in my opinion, is worth more than any digital crypto coin...

Put your Trust in Jesus, the End is near....

peace
IMHO
 Quoting: Chugiakian



you’re an idiot.. no one seems to understand that the blockchain is the truth. it is an immutable ledger, it brings truth and transparency to anything it that touches it. if you want those two things you should be shouting from the rooftops about how you love this tech... the idea that the elite saw this coming and are setting us up is laughable. this is the ace in the hole that could free so many of you; but you scoff at it instead.. in not one single thread has any crypto hater ever mentioned the blockchain, these threads are just absurd :-\ have fun watching those that are initiated get complete freedom through ancillary efforts supporting the blockchain, I’m already done. 35 and retired, forever!! let that sink in :)
Anonymous Coward
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12/10/2017 01:31 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I read somewhere that there are 3 fatal pitfalls with a digital bit-coin

#1 In GOD Nobody We Trust

If you think the Global elite bankers are going to sit on the sidelines and let this take over, you are crazy. They are playing us all as fools.


#2 No Guarantees
Exchanges have already been hacked and stolen


#3 No Inherent Value
Just like there is no longer any value in the Fiat Currency we currently use, there is certainly no value in ones and zero's sitting in cyberspace..... Tell me, what is a fair price? A price based on wild speculation??

If you think The Powers that Think They Be are going to sit on the sidelines and let this take over, you are fooling yourself. they are behind this all the way. Just go look at the cover of the Economist magazine from 1988

(unable to paste link from silver doctors commentary)..... /headlines/world-news/world-cryptocurrency-not-gold-backed-yu​an-in-light-of-the-1988-economist-magazine/
Snip "It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes."

Is the value of Bitcoin the value of the flood of monies into the coin? Is this what it is worth? Pure Speculation!

Money that floods into these coins at a break neck speed, is this what gives it its value?

This is the stuff panzi schemes from the 80's were made of, (except now they live in digital world), those who get in early rake in the money from all the suckers, er people who got in late. They tout how they got rich (off OPM) and are living fat n happy now.
WOO HOO - Good for you, for getting in and getting out. Raking in profits on the suckers who came in behind you. Do you truly wear that badge of honor proudly? Do you look down on others who didn't get in? Couldn't get in? Or had the sense that something wasn't quite right with it?

A digital drug, intoxicating to those who jumped in early, those watching and are tempted to jump in now, and to those in control.

The Committee Called "They" call this a currency, Why? How is that possible?

How can there be price stability in a digital currency that has no limits and that is not backed by anything tangible?

The true definition of currency is to exchange one medium for another. Is this not suppose to be with some sort of stability?

If the value of the dollar right now is tagged to this crypto currency, then we are truly witnessing the de-value of our money right before our eyes.

For every dollar that floods into this 'currency', sucks the life blood away from the masses and makes people more dependent on a digital world and now not only a slave to the debt system we currently live in, but now a become a digital slave, more intwined in the wicked web we all helped weave....

You should be proud of your action.

We all know wallets can be stolen, hacked and now the pickpockets can do it while sitting in the comfort of their chair.

Help usher in the new age of coin, it will be implanted on the back of your hand soon enough, where else would it be safe?


But what do I know, this is just my 2 cents which, in my opinion, is worth more than any digital crypto coin...

Put your Trust in Jesus, the End is near....

peace
IMHO
 Quoting: Chugiakian



thanks alot, but i want mine now, in cash.

.
Anonymous Coward
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France
12/10/2017 01:36 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
...


Says the guy leaving an electronic footprint...
 Quoting: Anonymous Coward 73587915


And to add to that post, I bought in 2013 and plan to hold on to my coin until at least 2020 and re-evaluate from there. I have not made a quick buck, but I have watched my BTC grow in relation to our soon to be worthless fiat! Unlike other get rich quick schemers, I truly believe in the vision of a deflationary, trustless, distributed ledger maintained by the people. Call me an old fashioned Libertarian, if you will.

How is the side/bartering going for you? Better yet, how's the spot price of silver and gold doing this am? At the time of this post, my BTC is hovering between $15-16K.
 Quoting: Anonymous Coward 73587915


I bet Duncan the Destroyer calls me a name next. He already tried the "you probably live in your parents basement" line. Pitiful.
 Quoting: Anonymous Coward 73587915


Sorry,no need for name calling!
Answer me this,what do you see happening down the road with crypto? do you really think the powers are going to let this take hold? how do you know they're not the ones behind this and bitcoin isn't one big Beta test to see how the masses react?

My gut feeling is that we are voluntarily putting a noose around our necks to usher in a one world currency by making the get rich quick crap seem so attractive.

Just think how great Facebook was first viewed and accepted by the masses when in reality it's one huge data gathering system for the government.

Money has a way of blinding common sense.
 Quoting: Duncan the destroyer


All valid concerns. Let me be clear, BTC is not a centralized system! TPTB do NOT want BTC to be successful, but they will have no say in the matter. Whether they give approval or not, we the people are moving forward with this system. I sure hope BTC is the one world currency and not some other centralized coin.

Again, there are a lot of people in bitcoin for the vision and not to get rich quick.
Duncan the destroyer

User ID: 75908809
United States
12/10/2017 01:36 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I'll try to explain in a very simple way the reason why bitcoin is worth so much.
The reason the value of bitcoin is worth so much is not in the bitcoin itself, but in the technology behind the bitcoin that is called blockchain.
Blockchain is basically the internet 2.0
Now go do your research on what the blockchain is because I will not be spoon feeding you.

That's the basics that a person should know before talking about it.

Now the question "Is bitcoin in a bubble?"
The answer is: Yes, it is possible that it is in a bubble simply because of the amount of people who are buying without even knowing what the blockchain is.
 Quoting: FeraNenem


So where does this all end?? a one world currency where people are their own banks? really think hard about what will happen should this happen.
Please let me know what you think is the future,I'm truly interested to know.
 Quoting: Duncan the destroyer


Where it will end, I do not know. What I know are two things.
1) This is the future and there is no turning back. So it's good to get used to it.
2) There is a risk, and the risk is not in bitcoin. The risk lies in some government like the Russian and the Chinese deciding to destroy the bitcoin by manipulating the market causing overvaluation and then dropping close to a thousand dollars and holding the value in this range while launching another currency to compete with bitcoin.
If that happens we will all be very fucked up because they will have control over people's money and can decide if they can buy, sell or even know where they use the money.
So I think it's good that everyone starts to support Bitcoin that do not have developers who can handle your money while it's time before anyone comes up with this idea.
 Quoting: FeraNenem



You seem very smart,why are you naive to the possibility that this is being implemented by the very people you want to be free from?
Why has there been no blow back about Bitcoin from the major financial institutions running the country?

Do you really think the government is going to roll over and give people complete control of their money?

Money to the government is like blood to a vampire,think about it! the less resistance bitcoin gets from above the more obvious it is that they are controlling this whole fiasco.
Duncan the destroyer
Anonymous Coward
User ID: 75647267
United States
12/10/2017 01:36 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I love the bible tards who rail against crypto.

"It ain't real unless you can hold it!"

"Muh Jesus!"
FeraNenem

User ID: 75963112
Brazil
12/10/2017 01:38 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
What I'm going to say is not exactly accurate, but in the absence of a better analogy will be this.

Bitcoin would be like gold and Ethereum like silver.

Bitcoin is now being used more as a form of ballast or reserve of other currencies than a currency itself. The other altcoins are that they are being used as coins because of their speed in transactions.

I'll give you an example of an altcoin and blockchain application.
Musicoin.
Musicoin can be used as a platform like Apple Music, Google Play Music, Deezer, Spootify, Pandora and Youtube. The difference is that by being decentralized the artist can make a lot more money by launching their songs on the platform.
Example:
Musicoin $ 0.02
Apple Music $ 0.0073
Google Play Music $ 0.0068

And so it goes. Without the intermediary the value of the product is cheaper and the artist earns more.
Gloria Fortis Miles
Adversor et Admorsus
FeraNenem

User ID: 75963112
Brazil
12/10/2017 01:39 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
What I'm going to say is not exactly accurate, but in the absence of a better analogy will be this.

Bitcoin would be like gold and Ethereum like silver.

Bitcoin is now being used more as a form of ballast or reserve of other currencies than a currency itself. The other altcoins are that they are being used as coins because of their speed in transactions.

I'll give you an example of an altcoin and blockchain application.
Musicoin.
Musicoin can be used as a platform like Apple Music, Google Play Music, Deezer, Spootify, Pandora and Youtube. The difference is that by being decentralized the artist can make a lot more money by launching their songs on the platform.
Example:
Musicoin $ 0.02
Apple Music $ 0.0073
Google Play Music $ 0.0068

And so it goes. Without the intermediary the value of the product is cheaper and the artist earns more.
 Quoting: FeraNenem


This is an example I gave of application, but there are several others. The range of possibility that the blockchain opens is gigantic and is still crawling.
Gloria Fortis Miles
Adversor et Admorsus
Chuckles

User ID: 74780425
United States
12/10/2017 01:41 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
What I'm going to say is not exactly accurate, but in the absence of a better analogy will be this.

Bitcoin would be like gold and Ethereum like silver.

Bitcoin is now being used more as a form of ballast or reserve of other currencies than a currency itself. The other altcoins are that they are being used as coins because of their speed in transactions.

I'll give you an example of an altcoin and blockchain application.
Musicoin.
Musicoin can be used as a platform like Apple Music, Google Play Music, Deezer, Spootify, Pandora and Youtube. The difference is that by being decentralized the artist can make a lot more money by launching their songs on the platform.
Example:
Musicoin $ 0.02
Apple Music $ 0.0073
Google Play Music $ 0.0068

And so it goes. Without the intermediary the value of the product is cheaper and the artist earns more.
 Quoting: FeraNenem


This is similar to TRON which is doing the same for youtube type content. Almost bought into the Musicoin ICO. IS this Bjork's coin?
"Anything worth doing is worth doing badly."
-G.K. Chesterton

"Look at me... being all human."
-Android 17
Duncan the destroyer

User ID: 75908809
United States
12/10/2017 01:43 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I love the bible tards who rail against crypto.

"It ain't real unless you can hold it!"

"Muh Jesus!"
 Quoting: Anonymous Coward 75647267


Crypto is very real,you think physical money has enslaved us all?? just wait until your existence depends on the ability to get online to access your accounts.
Think very hard about the processes giving you the ability to access your account,funds and transfers if it's all electronic! there are so many more ways we are going to be fucked with you can't even begin to imagine what hell you're courting all so you can make a quick $$ right now.
Duncan the destroyer
Anonymous Coward
User ID: 75167138
United States
12/10/2017 01:44 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
What I'm going to say is not exactly accurate, but in the absence of a better analogy will be this.

Bitcoin would be like gold and Ethereum like silver.

Bitcoin is now being used more as a form of ballast or reserve of other currencies than a currency itself. The other altcoins are that they are being used as coins because of their speed in transactions.

I'll give you an example of an altcoin and blockchain application.
Musicoin.
Musicoin can be used as a platform like Apple Music, Google Play Music, Deezer, Spootify, Pandora and Youtube. The difference is that by being decentralized the artist can make a lot more money by launching their songs on the platform.
Example:
Musicoin $ 0.02
Apple Music $ 0.0073
Google Play Music $ 0.0068

And so it goes. Without the intermediary the value of the product is cheaper and the artist earns more.
 Quoting: FeraNenem


that is until the artist wishes to access and convert their product into usable currency. Then conversion fees and access fees eat up all that savings and they're left with relatively the same amount they would have received in cash
FeraNenem

User ID: 75963112
Brazil
12/10/2017 01:48 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I'll try to explain in a very simple way the reason why bitcoin is worth so much.
The reason the value of bitcoin is worth so much is not in the bitcoin itself, but in the technology behind the bitcoin that is called blockchain.
Blockchain is basically the internet 2.0
Now go do your research on what the blockchain is because I will not be spoon feeding you.

That's the basics that a person should know before talking about it.

Now the question "Is bitcoin in a bubble?"
The answer is: Yes, it is possible that it is in a bubble simply because of the amount of people who are buying without even knowing what the blockchain is.
 Quoting: FeraNenem


So where does this all end?? a one world currency where people are their own banks? really think hard about what will happen should this happen.
Please let me know what you think is the future,I'm truly interested to know.
 Quoting: Duncan the destroyer


Where it will end, I do not know. What I know are two things.
1) This is the future and there is no turning back. So it's good to get used to it.
2) There is a risk, and the risk is not in bitcoin. The risk lies in some government like the Russian and the Chinese deciding to destroy the bitcoin by manipulating the market causing overvaluation and then dropping close to a thousand dollars and holding the value in this range while launching another currency to compete with bitcoin.
If that happens we will all be very fucked up because they will have control over people's money and can decide if they can buy, sell or even know where they use the money.
So I think it's good that everyone starts to support Bitcoin that do not have developers who can handle your money while it's time before anyone comes up with this idea.
 Quoting: FeraNenem



You seem very smart,why are you naive to the possibility that this is being implemented by the very people you want to be free from?
Why has there been no blow back about Bitcoin from the major financial institutions running the country?

Do you really think the government is going to roll over and give people complete control of their money?

Money to the government is like blood to a vampire,think about it! the less resistance bitcoin gets from above the more obvious it is that they are controlling this whole fiasco.
 Quoting: Duncan the destroyer


Bitcoin is decentralized, these people no longer have the least control over it.
Moreover they did not create something with the transparency of the blockchain to disrupt their plans.
Gloria Fortis Miles
Adversor et Admorsus
FeraNenem

User ID: 75963112
Brazil
12/10/2017 01:50 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
What I'm going to say is not exactly accurate, but in the absence of a better analogy will be this.

Bitcoin would be like gold and Ethereum like silver.

Bitcoin is now being used more as a form of ballast or reserve of other currencies than a currency itself. The other altcoins are that they are being used as coins because of their speed in transactions.

I'll give you an example of an altcoin and blockchain application.
Musicoin.
Musicoin can be used as a platform like Apple Music, Google Play Music, Deezer, Spootify, Pandora and Youtube. The difference is that by being decentralized the artist can make a lot more money by launching their songs on the platform.
Example:
Musicoin $ 0.02
Apple Music $ 0.0073
Google Play Music $ 0.0068

And so it goes. Without the intermediary the value of the product is cheaper and the artist earns more.
 Quoting: FeraNenem


This is similar to TRON which is doing the same for youtube type content. Almost bought into the Musicoin ICO. IS this Bjork's coin?
 Quoting: Chuckles


The idea of TRON is for video games. I bought TRX but I already sold it. Their roadmap is too long. Maybe I'll buy more ahead.
Gloria Fortis Miles
Adversor et Admorsus
Anonymous Coward
User ID: 75956576
United Kingdom
12/10/2017 01:51 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I read somewhere that there are 3 fatal pitfalls with a digital bit-coin

#1 In GOD Nobody We Trust

If you think the Global elite bankers are going to sit on the sidelines and let this take over, you are crazy. They are playing us all as fools.


#2 No Guarantees
Exchanges have already been hacked and stolen


#3 No Inherent Value
Just like there is no longer any value in the Fiat Currency we currently use, there is certainly no value in ones and zero's sitting in cyberspace..... Tell me, what is a fair price? A price based on wild speculation??

If you think The Powers that Think They Be are going to sit on the sidelines and let this take over, you are fooling yourself. they are behind this all the way. Just go look at the cover of the Economist magazine from 1988

(unable to paste link from silver doctors commentary)..... /headlines/world-news/world-cryptocurrency-not-gold-backed-yu​an-in-light-of-the-1988-economist-magazine/
Snip "It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes."

Is the value of Bitcoin the value of the flood of monies into the coin? Is this what it is worth? Pure Speculation!

Money that floods into these coins at a break neck speed, is this what gives it its value?

This is the stuff panzi schemes from the 80's were made of, (except now they live in digital world), those who get in early rake in the money from all the suckers, er people who got in late. They tout how they got rich (off OPM) and are living fat n happy now.
WOO HOO - Good for you, for getting in and getting out. Raking in profits on the suckers who came in behind you. Do you truly wear that badge of honor proudly? Do you look down on others who didn't get in? Couldn't get in? Or had the sense that something wasn't quite right with it?

A digital drug, intoxicating to those who jumped in early, those watching and are tempted to jump in now, and to those in control.

The Committee Called "They" call this a currency, Why? How is that possible?

How can there be price stability in a digital currency that has no limits and that is not backed by anything tangible?

The true definition of currency is to exchange one medium for another. Is this not suppose to be with some sort of stability?

If the value of the dollar right now is tagged to this crypto currency, then we are truly witnessing the de-value of our money right before our eyes.

For every dollar that floods into this 'currency', sucks the life blood away from the masses and makes people more dependent on a digital world and now not only a slave to the debt system we currently live in, but now a become a digital slave, more intwined in the wicked web we all helped weave....

You should be proud of your action.

We all know wallets can be stolen, hacked and now the pickpockets can do it while sitting in the comfort of their chair.

Help usher in the new age of coin, it will be implanted on the back of your hand soon enough, where else would it be safe?


But what do I know, this is just my 2 cents which, in my opinion, is worth more than any digital crypto coin...

Put your Trust in Jesus, the End is near....

peace
IMHO
 Quoting: Chugiakian



Same applies to fiat paper in your pocket.
FeraNenem

User ID: 75963112
Brazil
12/10/2017 01:52 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
What I'm going to say is not exactly accurate, but in the absence of a better analogy will be this.

Bitcoin would be like gold and Ethereum like silver.

Bitcoin is now being used more as a form of ballast or reserve of other currencies than a currency itself. The other altcoins are that they are being used as coins because of their speed in transactions.

I'll give you an example of an altcoin and blockchain application.
Musicoin.
Musicoin can be used as a platform like Apple Music, Google Play Music, Deezer, Spootify, Pandora and Youtube. The difference is that by being decentralized the artist can make a lot more money by launching their songs on the platform.
Example:
Musicoin $ 0.02
Apple Music $ 0.0073
Google Play Music $ 0.0068

And so it goes. Without the intermediary the value of the product is cheaper and the artist earns more.
 Quoting: FeraNenem


that is until the artist wishes to access and convert their product into usable currency. Then conversion fees and access fees eat up all that savings and they're left with relatively the same amount they would have received in cash
 Quoting: Anonymous Coward 75167138


As I said, bitcoin serves as a kind of ballast for other currencies. I believe that one day it will not be necessary for the artist to have to convert for money, but for bitcoin or another altcoin.
Gloria Fortis Miles
Adversor et Admorsus
Anonymous Coward
User ID: 35799703
United States
12/10/2017 01:53 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
...


So where does this all end?? a one world currency where people are their own banks? really think hard about what will happen should this happen.
Please let me know what you think is the future,I'm truly interested to know.
 Quoting: Duncan the destroyer


Where it will end, I do not know. What I know are two things.
1) This is the future and there is no turning back. So it's good to get used to it.
2) There is a risk, and the risk is not in bitcoin. The risk lies in some government like the Russian and the Chinese deciding to destroy the bitcoin by manipulating the market causing overvaluation and then dropping close to a thousand dollars and holding the value in this range while launching another currency to compete with bitcoin.
If that happens we will all be very fucked up because they will have control over people's money and can decide if they can buy, sell or even know where they use the money.
So I think it's good that everyone starts to support Bitcoin that do not have developers who can handle your money while it's time before anyone comes up with this idea.
 Quoting: FeraNenem



You seem very smart,why are you naive to the possibility that this is being implemented by the very people you want to be free from?
Why has there been no blow back about Bitcoin from the major financial institutions running the country?

Do you really think the government is going to roll over and give people complete control of their money?

Money to the government is like blood to a vampire,think about it! the less resistance bitcoin gets from above the more obvious it is that they are controlling this whole fiasco.
 Quoting: Duncan the destroyer


Bitcoin is decentralized, these people no longer have the least control over it.
Moreover they did not create something with the transparency of the blockchain to disrupt their plans.
 Quoting: FeraNenem


so, all of these computer geeks are
going to War with the NWO.

good luck with that.

.
Anonymous Coward
User ID: 75937151
United States
12/10/2017 02:03 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
What good is a digital wallet if there's no electricity to access it?
 Quoting: Anonymous Coward 75955956


This, or if the internet is shut down for some reason, what then?

Retards being whipped into a frenzy, rushing out to buy at $5000, $10,000, $15,000 etc deserve to be fleeced. The time to buy was sub $1, $5, $20, etc. Buy low sell high always holds true.
Anonymous Coward
User ID: 72941093
United States
12/10/2017 02:08 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
Modern day version of pink sheet pump and dumps. The very top make huge money, those who time it right make a healthy profit. Those who get sucked in are left as bagholders. The government eventually shuts them down. Bitcoin = shell company.
Anonymous Coward
User ID: 75461238
Sweden
12/10/2017 02:14 PM
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Re: 3 fatal flaws with digital crypto currencies in their present form....
I read somewhere that there are 3 fatal pitfalls with a digital bit-coin

#1 In GOD Nobody We Trust

If you think the Global elite bankers are going to sit on the sidelines and let this take over, you are crazy. They are playing us all as fools.


#2 No Guarantees
Exchanges have already been hacked and stolen


#3 No Inherent Value

 Quoting: Chugiakian


1. We trust in rules. Coins are created according to rules, not whims of a organization.

2. If you have a fire in a supermarket, does that mean all supermarkets are bad because they can have a fire?
If people just started to use the tech as it is supposed to, there is no need for exchanges.

3. Either you have currency or you have barter. A currency is a phenomenal invention that you just took a piss on.
Because that is what it is. A means of exchange, and the best, because for something to be a currency, it has to be rare/limited or non-counterfeitable.

There is the flaw with fiat. It is just printed when ever.





GLP