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Honorable Bitcoin

  • #621
  • Edited 7:29am Mar 13, 2020 3:29am | Edited 7:29am
From 205 Billion dollars in July 2019, now there are only 90 B left in the Bitcoin Poker Game
(not to mention December 2017 with $336 B )

Look, is like this, 56% of the bitcoin people took their money back ! Out !
Or the bitcoin people took 56% of their money back ...same shit.

1. If you call those guys stupid... there are too many stupid folks in bitcoin (=> dangerously unstable)
2. If you call those guys smart... bitcoin itself looks too much of a stupid idea (=> it's a scam)

Either way, bitcoin is trash
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  • #622
  • Mar 14, 2020 8:52am Mar 14, 2020 8:52am
It was inevitable for bitcoin to crash! It was just a matter of time !
Why?
- because - mostly this time - bitcoin proved it's nothing but trash, it can't hold value !
- it can't hold any value because it doesn't have inherent value ..it's just a fkn bet !!
- it has nothing to do with the real world economy,
- it has nothing to do with sane investment,
- it has nothing to do with global risk aversion,
- it has nothing to do with coronavirus,
...NOTHING !! ..IT'S JUST A COMPUTER CODE !
A sophisticated "product" which can easily generate a Ponzi scheme over and over again ! The perfect robbing the naive tool.

And we just have seen the last bubble got dumped to zero real value... the minimal mining rentability level !

Just die, volatile trash !
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  • #623
  • Mar 14, 2020 6:46pm Mar 14, 2020 6:46pm
Quoting TudorIoan
It was inevitable for bitcoin to crash! It was just a matter of time ! Why? - because - mostly this time - bitcoin proved it's nothing but trash, it can't hold value ! - it can't hold any value because it doesn't have inherent value ..it's just a fkn bet !! - it has nothing to do with the real world economy, - it has nothing to do with sane investment, - it has nothing to do with global risk aversion, - it has nothing to do with coronavirus, ...NOTHING !! ..IT'S JUST A COMPUTER CODE ! A sophisticated "product"...
You are correct.
When you have a code that can be mass produced within the private sector, codes that do not reflect the nature and state of the various sovereign economies, you are inviting constant market imbalances and wild fluctuations.

Things we have seen from crypto's since their inception.

Crypto "visionaries" don't understand this concept

They don't understand the difference between a highly volatile, tradable "asset", and the requirements of sovereign currencies as stable, effective, trustworthy tools for commerce.
Compulsions can be hard to resist
  • #624
  • Edited Mar 16, 2020 8:17am Mar 15, 2020 9:06am | Edited Mar 16, 2020 8:17am
Quoting trumps
{quote} You are correct. When you have a code that can be mass produced within the private sector, codes that do not reflect the nature and state of the various sovereign economies, you are inviting constant market imbalances and wild fluctuations. Things we have seen from crypto's since their inception. Crypto "visionaries" don't understand this concept They don't understand the difference between a highly volatile, tradable "asset", and the requirements of sovereign currencies...
From the investing perspective, bitcoin it's obviously just a wild card.
That's why we use to call it trash.
Bitcoin sick obsessed freaks cannot distinguish between gambling and investment.

Apparently it's the protocol they value, ...not forgetting to play superior
That's the scam ! Attracting anarchists, haters, losers and illiterates by creating a fanatic cult aroud the magic limited supply of bitcoin which is supposed even to cure cancer One eye dumb half-witts who only sees too much taxes, low salaries, deposits decrease in value, pensions decrease in value, inflation too wide, banks profits too big, conspirations everywhere ... and they think they know everything about economy.
Protocol is an utopia ! A fantasy world created by their sick imagination.

They're only economic illiterates, blaming only the printing of money by the central banks as the original evil.
Inflation comes also from market dynamics, such as rising in the cost of rough materials, rising the cost of labor, rising activity of the unions, falling productivity, a falling domestic economy as a whole, a growing neighboring economy, falling interest rates (not by the central banks, it's more like a loan industry aggregate parameter)

If Middle East war for instance, and oil skyrocket, everybody will buy the safe deal of ever rising oil for profit, absorbing all the big investing money from the other needing sectors.
Those bitcoin guys don't understand risk aversion and deflationist dangerous effect if they claim that a rigid supply money can do any good for economy as a whole.
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  • #625
  • Mar 15, 2020 11:58am Mar 15, 2020 11:58am
Quoting TudorIoan
{quote} From the investing perspective, bitcoin it's obviously just a wild card. That's why we use to call it trash. Bitcoin sick obsessed freaks cannot distinguish between gambling and investment. Apparently it's the protocol they value, ...not forgetting to play superior That's the scam ! Attracting anarchists, haters, losers and illiterates by creating a fanatic cult aroud the magic limited supply of bitcoin which is supposed even to cure cancer One eye dumb half-witts who only see taxes, salaries, deposits, pensions, inflation,...
I can't wait to go to a country that allows Bitcoin ATM so I can get rid of that crap
  • #626
  • Edited 8:14am Mar 16, 2020 4:30am | Edited 8:14am
Bitcoin failed miserabily !
The Fed just cut rates to zero and entered into QE again.
Bitcoin was built for this moment, ...but bitcoin failed
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  • #627
  • Mar 16, 2020 8:02am Mar 16, 2020 8:02am
Agreed on that professor, there should be a virtual currency for toilet paper
Rest assured, there must be a crypto genius who will "invent" that
And enough crypto smarties to say it's more useful than gold
Woah, what do you know, crypto geeks are so ...creative !
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  • #628
  • Mar 16, 2020 8:13am Mar 16, 2020 8:13am
Hey, crypto hodlers ! Doncha feel robbed somehow ?
Yeah, robbed by the crypto whales, the "professional investors" who ran for cover at the first shakedown rather than hold the crypto torch
Your wallets are full of shit now.
Never mind, just be an hard ass and hold it still ...there is more shit to come !...
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  • #629
  • Mar 16, 2020 2:54pm Mar 16, 2020 2:54pm
Bitcoin is triple fucked !!!
The upcoming halving coupled with the crash in price means miners will have to turn off around 70-80% of their mining equipment - or die crumbling under electricity bills.
This spare capacity won’t go anywhere, it’ll be available to the highest bidder
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  • #630
  • Mar 16, 2020 3:44pm Mar 16, 2020 3:44pm
Quoting TudorIoan
{quote} From the investing perspective, bitcoin it's obviously just a wild card. That's why we use to call it trash. Bitcoin sick obsessed freaks cannot distinguish between gambling and investment. Apparently it's the protocol they value, ...not forgetting to play superior That's the scam ! Attracting anarchists, haters, losers and illiterates by creating a fanatic cult aroud the magic limited supply of bitcoin which is supposed even to cure cancer One eye dumb half-witts who only sees too much taxes, low salaries, deposits decrease...
All this was foretold.... the third industrial revolution is well and truly arriving, on cue and on schedule.
Don't forget the other significant portion of the population, the gullible, the hopeful , the misled, the trusting, the poorly advised, all buy into this for the chance to win or improve their lot. It's called human nature, and it always swings back past the middle ground like any good pendulum. Dog help us all when the meek rule.
  • #631
  • Edited 7:47am Mar 17, 2020 6:27am | Edited 7:47am
Quoting fractalcidal
{quote} All this was foretold.... the third industrial revolution is well and truly arriving, on cue and on schedule. Don't forget the other significant portion of the population, the gullible, the hopeful , the misled, the trusting, the poorly advised, all buy into this for the chance to win or improve their lot. It's called human nature, and it always swings back past the middle ground like any good pendulum. Dog help us all when the meek rule.
That was deep, brother !
So Matthew was wrong, ...he misunderstood perhaps, blessed are the meek, for they shall inherit the earth

My take away? "Dog help us..." I can hear the crypto wallet shit hodlers using that forever !
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  • #632
  • Edited 6:13pm Mar 17, 2020 5:59pm | Edited 6:13pm
Quoting TudorIoan
{quote} That was deep, brother ! So Matthew was wrong, ...he misunderstood perhaps, blessed are the meek, for they shall inherit the earth My take away? "Dog help us..." I can hear the crypto wallet shit hodlers using that forever !
No... I don't think Matthew was wrong, the inheritors by definition end up ruling, breifly. The bible was the ultimate crypto currency, chokablock full of foul human imaginings. a control device, so enabling the elite to rule the masses, thru confusion and fear. same as law and order today.. tho not so welded to, or, in conjunction with religion these days.
I was sort of hoping that lady beetles were going to be the meek.
  • #633
  • Mar 18, 2020 6:30am Mar 18, 2020 6:30am
Lighting Network it's a sad joke! It can't solve the the scalability trilemma for the crapppy bitcoin !

1. You can say good bye to your safe cold storage, obsessed Nox-Maggot.
The safest method for storing cryptocurrencies is impossible on a lightning network !

2. What about Fraudulent Channel Close? Noxic-KPMaGgot miserable crook will close the channel in your nose and pocket funds while you are away.
Or he will fraudulently contest a channel close

3. Watchtowers ??? Watchtowers are whatching my ass! Watchtowers are the new generation of corruptible new middle man ? Security private officer ???
Is this some kind of joke ?! Who's watching a private watchtower ?! Enter corruption in the "crypto philosophy"

4. Offline stance could also bring down the network ..."One server outage could feasibly cause disruption across the entire network, and it could cause a large number of users to have their funds frozen for days"

5. And routing, it requires that the sender and receiver of the payment have enough established peers in common to find a path for the payment. What about then the frudulent closing the rout
_____
LN will lead to other even more problems within the cryptocurrency’s ecosystem.
Crypto is a never ending story with idiots, everything is rotten,
but the cult's typical hypocrisy and idiocy will feed this utopia forever
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  • #634
  • Edited Mar 19, 2020 3:14am Mar 18, 2020 10:28am | Edited Mar 19, 2020 3:14am
Crypto morons blame the printing of money... and they bring up the jungle laissez-faire, because they feel smart and they have been born .."lucky and blessed"
...how about welfare state if you would have been born poor, sneaky bastards?

Non-intervention model has been put to the test by the history.
The results was awful for the workers and the poor.
Unemployment and bankruptcy last for long periods of time.
Classical economic theory had simply assumed that demand for goods would return by itself once wages and labor requirements had equalized.
If not, their immediate impulse is just to rein in spending.
But cutting the spending when an economy is in decline always worsens the very problem it's meant to solve.

The point of building a currency which cannot be printed for more and not being copied from a clipboard is to preserve the classical economic non-interventionist model.

But I don't trust this classical model since the history proved it too fkn painful for the society as a whole.
That's why we have the government-led inflation model.

The crisis we have today it's not because of printing of money.
The crisis we have in 2020 is because megalomaniac idiot politicians and virus calamity.
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  • #635
  • Edited Mar 19, 2020 10:27am Mar 18, 2020 10:36am | Edited Mar 19, 2020 10:27am
Bitcoin shills are rabid liars. They lie about the potential of the bitcoin.
That's why bitcoin is a bad risky investment !

What's the big deal if a currency cannot be printed more and not being copied from a clipboard ?
You think the inflation will simply cease to exist ?
Inflation is not only generated by the central banks.
Inflation is generated also by :
- rising in the cost of materials,
- rising the cost of labor,
- falling productivity,
- lowering taxes,
- a falling domestic economy,
- a growing neighboring economy
- falling interest rates (aggregate indie for the loan industry)

Inflation it's ultimately a problem of the whole economy.
Bitcoin cannot solve economical problems !
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  • #636
  • Mar 18, 2020 10:39am Mar 18, 2020 10:39am
Real investors cares about the fundamental potential of the assets they invest in.
But crypto doesn't have too much of a fundamental potential.
- is centralized like hell... (bitcoin is dominated by very large bitcoin mining companies and some big exchanges, and between them those guys make up 80% of the transaction checking system, or the hash rate, of bitcoin );
- exchanges (blokchain's interface) corrupted, vulnerable, hackable...
- merchants are corrupted, vulnerable, hackable...
- wallets are vulnerable, hackable...
- non-sustainable (expensive energy)
- not sclable (slow transactions)
- anonymity works as a black hole for fraud
- fixed supply has deflationist toxic effect

...these are real fundamental flaws !! ...and time can't improve these fundamentals !

BAD INVESTMENT !
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  • #637
  • Mar 19, 2020 8:39am Mar 19, 2020 8:39am
Bitcoin is trash. Even if 20K in 5 minutes, it's the same useless computer trash. It will get dumped like shit if any crisis.
It has no ground. No inherent value.
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  • #638
  • Mar 19, 2020 9:51am Mar 19, 2020 9:51am
Beware of big mouth crypto shills !

Crypto big mouth crooks buy this worthless bitcoin trash hoping the next stupid greedy guy will be tempted to buy more.
There's no other reason for a trash like bitcoin to grow.

Why do you think the crypto big mouth fanatics scream everywhere calling people to buy the crypto trash ?!?
Do you really think they care to educate you ?
Do you really think they care to make you rich?

And the stups buy.
If someone tells them the pigs will fly, they buy pigs.
If someone tells them the shit will fly, they buy shit.
Then the big dump!

That's gambling if not upright Ponzi !
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  • #639
  • Mar 20, 2020 4:17am Mar 20, 2020 4:17am
No, no bull trap !
This time we will see 50K for sure
China hold 70% of all bitcoin, and C19 good news from China
The war against dollar supremacy reloaded !
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  • #640
  • Mar 22, 2020 4:30pm Mar 22, 2020 4:30pm

See what Charles Munger, the vice Chairman of Berkshire Hathaway, thinks about Bitcoin


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