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Honorable Bitcoin

  • #41
  • Edited 6:27am Jun 28, 2019 4:34am | Edited 6:27am
And here's our Caesar brilliantly leading us with his giftedness towards a bright future! Ta-daaaaaaaaa!

Why is this guy unhappy?
I mean why can't he live a life like Johnny Depp for instance?
Is he running for the Nobel in science or something... why the torture to himself to look ceaseless creative?!
Hunger for power and reputation, well masked in interest for knowledge!

Those freaks definitely spotted a business opportunity ...but they don't fkn know how the finances deeply work!

They linked their Libra ...on the USdollar ultimately. All that means and threads lead to the USD ultimately.
But they don't understand the USD!
They think is just a paper, or digital item, ...which can be replaced anytime with any other paper or digital item.

At least is not a dark invisible hero like that Sato-shit. ...Mark will get the Nobel, not the Shit-Ghost, nor the Twins
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  • #42
  • Edited 8:57am Jun 28, 2019 6:24am | Edited 8:57am
The blockchain, the libra, the altcoins ...all of the kind, there are mediums of exchange... not real money!

But all of them they are just like "trustless" big black boxes with billions of ends... nobody knows what entity is on some particular end of it!
That's not good, that's obviously not good! That's funadamentally wrong!

To a better world, we need more transparency, not more opacity!!
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  • #43
  • Jun 28, 2019 10:08am Jun 28, 2019 10:08am
Quoting TudorIoan
The blockchain, the libra, the altcoins ...all of the kind, there are mediums of exchange... not real money! But all of them they are just like "trustless" big black boxes with billions of ends... nobody knows what entity is on some particular end of it! That's not good, that's obviously not good! That's funadamentally wrong! To a better world, we need more transparency, not more opacity!! {image}
Hope your money is safe! Appreciate your intelligence!!!
  • #44
  • Jun 28, 2019 10:49am Jun 28, 2019 10:49am
Quoting GeorgeBaile
{quote} Hope your money is safe! Appreciate your intelligence!!!
money in banks insured for theft or other crimes. crypto is...well...umm....ehrrr....
he should be just fine

"Research: Cryptocurrency exchange hacks surpass $1.3 billion all time; 61% coming from 2018"
"In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace."
"Cryptocurrency thieves earned at least $356 million in the first quarter of 2019, which could see the industry face a billion-dollar money laundering problem by year’s end."
there is always, always another trade!!
  • #45
  • Jun 29, 2019 2:14am Jun 29, 2019 2:14am
Quoting profitfarmer
{quote} money in banks insured for theft or other crimes. crypto is...well...umm....ehrrr.... he should be just fine "Research: Cryptocurrency exchange hacks surpass $1.3 billion all time; 61% coming from 2018" "In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace." "Cryptocurrency thieves earned at least $356 million...
Crypto exchanges are dangerous to use! If you want to store your BTC quite sagely then paper wallet is the best choice!
  • #46
  • Edited 6:45am Jun 29, 2019 5:03am | Edited 6:45am
Quoting GeorgeBaile
{quote} Hope your money is safe! Appreciate your intelligence!!!
Hi, George!
And I do appreciate your irony ...but I Am intelligent Let's talk!

Here's some new food for thought:

Ok, if we talk safety is simple.
BAM, everything is hackable! Yes, everything./...except the blockchain
I've already said it here, blockchain is a rock-solid block, the ultimate cyber vault!

All hackable, the banks data, social networks data, corpo. data, govs. data, user accounts, all personal terminals, phones, wallets, desktops, all gadgets...
all but not the blockchain!

But unfortunately, adding the blockchain doesn't make the society safer!
And the proof is here, today!
Terminals are easily hackable, exchanges are hackable, wallets are hackable, all !
So the system itsef it's still vicious.
Even there is a hard core (blockchain), the vulnerability of the ends of the system nullifies the system itself. Simple!

There is so much fight for a change for what ...for what??
I use the current system ...it's ok for me!
Example I sent 20 dollars to my young son across the street thru my phone for him to buy a pizza, and I just paid the phone invoice of my wife today, in a day when all the banks were closed! ...the transfer was made instantly and zero commission!!! (same bank)
Why the fk we need cryptocurrencies??? To send money to a stranger in Malaysia??? How often in my life I need to do that and do it "urgently" ?!?
The business parteners can afford to open an account at the same bank, don't they!
The corpos can!
The banks can even make it easy for them because the blockchain menace will steal this transfer business!

But I also use to question here on this thread the basic principles:
- no-inflation fallacy, monetary policy,
- morality, transparency, "legal" medium of crime,
...these are the real problems of the cryptocurrencies!
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  • #47
  • Edited 2:36pm Jun 29, 2019 8:12am | Edited 2:36pm
Guys, George and Neil, so you voted like:
- who cares if the anonymity of the transactions it's a fraud by definition, as long as we get filthy rich trading bitcoin?

Let's talk!
So would you assume it's the same thing like getting rich trading coffee, or drugs or firearms... all the same?
So, basically you think it does not matter what's the trade, as long as you're getting rich??? ...good business people, bravo!
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  • #48
  • Edited 5:27am Jun 30, 2019 5:05am | Edited 5:27am
Quoting TudorIoan
{quote} {quote} ...bitcoin saga goes on... Seem no problem so far, Neil? ...hmmm, the problem is the opacity of this safe black box. Nobody, and I mean NOBODY, can see how the values are moving inside. From who to who. For how much size of it. __________________________________________________________________________ So if I want to buy some crack from you, I'll give you an innocent phone call, right? Me: Hey, hi, ..hey, Neil? You: What? Who's this?... Me: Yo, it's me, Frank ...Neil, ma'man! It's Frank, Paulie told me to call you...
Anonymity effect for dummies diagram

Look at these people! They can do "business" now! No interdiction!
The Black Box is great for business!
If there is a black box and total invisibility for the actors... anything's possible!

Great invention The Black Box, anything's possible now, yeeeey!
...

By the way, an innocent call from Frank to Neil is much safer for delinquents than the Darknet ...because simply accessing Darknet the law enforcement will follow your IP...
...but hey, anyone can take an innocent walk in the park instead
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  • #49
  • Edited 5:40am Jun 30, 2019 5:26am | Edited 5:40am
Anonymity effect for Level One diagram

For crooks like No-Kp-MGollum.
Actually Not-Kpmg must be a hint of Not-KYC (KYC - Know Your Customer principle) ...Nick, Nickolai, sounds even better
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  • #50
  • Edited 8:19am Jun 30, 2019 7:44am | Edited 8:19am
Ok, so we all agree on anonymity's "virtues", now can we talk crypto-no-inflation-fallacy ?

They say 21M bitcoin sort of scarcity will save the world from the infamous inflation! Really?

Let's start easy, examples, ...so, if a country like Venezuela goes "bankrupt" is because the fkn economy slumps!
Inflation is a phenomenon created by the economic dynamics, not by the money itself!

So if the poor country's people will still hold Silver, or Gold, or Rhodium, or Niobium, or Lantan, or, Oil, or USdollars, or Bitcoins, or Tudorcoin...
is all the same, because there is no intrinsic value in static material things.
The real value is (in) WORK, economic activity, productivity!

So, a pack of fags will cost 0.2 bitcoin in Venezuela and 0.0002 bitcoin in US!
Why?
Because in this case, if the economy slumps and if the people are free to exchange all for bitcoins,
and after the national currency will be totally absorbed by bitcoins via USD,
the value of the constant amount of Bitcoin in circulation in Venezuela will start to fall,
simply because the same number of bitcoins will chase a smaller and smaller number of things to buy in that particular country.
There will be the same constant amount of money about, but it doesn't buy you the same, ...it just pushes up prices.
Or if free trade, the imports will eat up all the bitcoins in time ...same sort of bad result.

Something like the bitcoin in Zimbabwe is 50,000 USDollars, today ...

Scarcity can't help nobody. It can't save the people from failed stupid policies just like that... !
It can't replace work, productivity, business.
Because the REAL VALUE doesn't lie in money!
Inflation phenomenon is not a money endogenous phenomenon!

The crypto freaks don't understand value of money and economy!
That's one more thing that proves the crypto is an unrealistic paralell financial world!
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  • #51
  • Jul 2, 2019 5:40am Jul 2, 2019 5:40am
I haven't heard such crazy things like bitcoin'll safe from inflation. Indeed no cryptocurrency'll save from inflation if such is already present f.ex. It feels like some people don't see the reality but utopia of cryptocurrency.
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  • #52
  • Edited 12:11pm Jul 2, 2019 9:59am | Edited 12:11pm
Quoting Trader613
BTC in itself is a solid technology. It is therefore that smart money sees its yet unrealised potential, and future value. It is most unfortunate, as is the case with most groundbreaking technologies, that BTC has attracted attention of undesirable individuals who are using this otherwise beautiful technology for illegitimate purposes. But the same could be said for fiat for example. Are we going to ban printed money because of certain criminal individuals? Surely not! BTC, along with Gold is here to stay. It will outlive us by a huge margin. BTC...
My advice for you, if you want to bring your shit to sombody's thread, read the main ideas first!
Please refer to the McAfee-Sato-shit pseudo-intellectualls post above, ...you belong to that category!
This thread already covered that kind of stupid rant!

FYI, at yo'simple lowest level, fiat can be traced, crypto can't be traced. Seeeeee, dumbo! Simple as that.
Caaan - can't. Reapeat, caaan - caaan't, that's right!
That's why crypto is crooked BY DEFINITION!!!
Dig!? ...never mind, don't bother answer, you belong to the category I said is to ignored.

Thank you for the sample of stupidity, you helped this thread enough! Conclusion, crypto is for stups who are not able to understand the essence.
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  • #53
  • Jul 2, 2019 12:07pm Jul 2, 2019 12:07pm
All bad news, crooks, thieves, frauds, scams..
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  • #54
  • Jul 5, 2019 3:23am Jul 5, 2019 3:23am
Yes, it would veeery popular anyway.
Because the popular hate against the government, against the authority, against the banks, against the rich, and everybody hates income tax ...frustration and the popular hate are eternal!!!
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  • #55
  • Jul 5, 2019 3:28am Jul 5, 2019 3:28am
Quoting TudorIoan
Yes, it would veeery popular anyway. Because the popular hate against the government, against the authority, against the banks, against the rich, and everybody hates income tax ...frustration and the popular hate are eternal!!! {image}
The controversial question to be honest. Bitcoin appeared in 2009. And it became mega popular in 2016. I don't know what influenced its popularity in one time. But it seems to me its really wild volatility is one of the key factors.
  • #56
  • Jul 5, 2019 3:40am Jul 5, 2019 3:40am
It's plain and clear that the bitcoin is the perfect tool for money-laudering!
The anonymity of the transactions create a perfect financial domain for money-laundring.
Again, for stups: money laundring existed before, but nobody created a safe perfect domain for money laundring like the bitcoin.
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  • #57
  • Jul 5, 2019 4:29am Jul 5, 2019 4:29am
Quoting KarolNowak
{quote} The controversial question to be honest. Bitcoin appeared in 2009. And it became mega popular in 2016. I don't know what influenced its popularity in one time. But it seems to me its really wild volatility is one of the key factors.
Indeed, Nowak!!! It's so idiot crazy!!! I mean December 2016 bitcoin was below 2000, then December 2017 was 19900, then after December 2018 crashed to 3000, now the Fools Day clowns pumped it up 400% in few months ...come on, it's more of a bad taste joke now! How stupid people can be????? I'm tired to laugh at these stups, it gets really boring!
It's FOMO sentiment, ...it's wannabe players, ...it's Ponzi Shraks inside... see those periodic massive sell offs !
The Bitcoin Circus is back in town starting on April 1st Fools' Day LOL ...they don't even bother to hide the scam, they can even afford to play ironic now
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  • #58
  • Jul 6, 2019 12:10am Jul 6, 2019 12:10am
Quoting KarolNowak
{quote} The controversial question to be honest. Bitcoin appeared in 2009. And it became mega popular in 2016. I don't know what influenced its popularity in one time. But it seems to me its really wild volatility is one of the key factors.
Bitcoin it's the most manipulated asset ever!
The Fools Day lift off was such an obvious irony.
The perfect sign of manipulation. Meant to create the FOMO sentiment. Good tactic otherwise..
But this current consolidation is also a manipulation, but much more subtle. Because imagine bitcoin at 20000 toooo fast! It would have dropped like a rock.
That would be too scary for the little wannabes who buys on FOMO sentiment ...so bitcoin-sharks need to simulate a slow down ...they will catch more if they take it slow now . .let the guppies come and feel safe first, right?! :-))))
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  • #59
  • Jul 6, 2019 12:32am Jul 6, 2019 12:32am
When they all will get fkn regulated, they will become just common assets! );-))
And if the "infamous" dollar (major currencies) will get encrypted too, that day will be the Doomsday for all the "video game coins" like bitcoin );-))
Thanks, Amamiya! Good job anyway
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  • #60
  • Jul 6, 2019 6:43am Jul 6, 2019 6:43am
Uhhh, whatta surprise!
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