BITCOIN is now = to 1 oz of Gold

[RB87]

Damn miners are buying up all the radeon video cards, driving up prices on older parts no less.

Though I wish I'd built a bitcoin mining machine or two a couple of years ago. Would've paid for the equipment/power at least.

 

[Burt Gummer]

A fair assessment.

 

[Grunwald]

A fair assessment.

I like Peter but he's not exactly accurate on the history.
The original paper currency was in China.
He also skips over the whole European ancient history in his lesson.
He should have really quantified it more.

 

[Burt Gummer]

Well yes. Plus I have to wonder if the Bit-coin thing excludes our parasitic owners, the global elite/central bankers. Almost seems impossible since they run it all.

The price of gold and silver is strictly controlled, not by supply and demand, but by the bankers (like JP Morgan, silver, Comex fraud). PM "Certs" printed out of thin air which is a lot like fiat. The paper silver to real silver margin is at least 300:1.

There is no real answer, but if the Rothschilds and Morgans of the world are against Bit-Coin - are they? - I wish them well. If they are taking power from the banksters in any way I would expect an engineered collapse of Bit-Coin and any other digital currency like it.

I was also reading that it is a way to get around taking your assets/money out of the country which I found interesting.

 

[Burt Gummer]

I asked a buddy of mine who spent a lot of time looking into it what he thought ....

bitcoin is a complete sham!!! The founders of bitcon owns about 7.5 million bitcoins and is waiting for the price to go up using the media to pump it up. Then they will sell all of their bitcoins to stupid people and run!! Once the scam is exposed, the value of bitcoin will go to $0!!!
its value goes up as people buy bitcoins
its a complete ponzi scam

 

[EZLivin]

...There is no real answer, but if the Rothschilds and Morgans of the world are against Bit-Coin - are they? - I wish them well. If they are taking power from the banksters in any way I would expect an engineered collapse of Bit-Coin and any other digital currency like it.

Or if it proves to be a truly effective means of commerce they might just let it continue to grow and develop until it is time for them to roll out their own digital cashless system, then take control of it and use it for their own system.

 

[U201491]

I asked a buddy of mine who spent a lot of time looking into it what he thought ....

bitcoin is a complete sham!!! The founders of bitcon owns about 7.5 million bitcoins and is waiting for the price to go up using the media to pump it up. Then they will sell all of their bitcoins to stupid people and run!! Once the scam is exposed, the value of bitcoin will go to $0!!!
its value goes up as people buy bitcoins
its a complete ponzi scam

Yep, that is exactly what will happen. Like the old chain money scams. Somebody will go uo prison over this. Just a matter of time.
The only viable money replacement or alternative is barter. Value for value.
This bitcoin is 0 (zero) for value.

 

[rockstardrnkr]

Yeah but no body can just hack into a computer and steal your physical gold thats in your safe.

Here. A reason i wont buy bitcoin

Online black market members hunt down $100 million in bitcoins, blame site owners for theft | The Verge

 

[billdeserthills]

This is the most irrelevant fact in the history of NWFirearms.

It is Relevant because it concerns Freedom

 

[LostChain]

I asked a buddy of mine who spent a lot of time looking into it what he thought ....

bitcoin is a complete sham!!! The founders of bitcon owns about 7.5 million bitcoins and is waiting for the price to go up using the media to pump it up. Then they will sell all of their bitcoins to stupid people and run!! Once the scam is exposed, the value of bitcoin will go to $0!!!
its value goes up as people buy bitcoins
its a complete ponzi scam

Your "Buddy" doesn't happen to be Gary North does he?

His assertion (and yours) that Bitcoin is a ponzi scheme is without merit.

Point by point refutation if you care to read:

Bitcoin Is Not a Ponzi Scheme ? LewRockwell.com

 

[U201491]

Your "Buddy" doesn't happen to be Gary North does he?

His assertion (and yours) that Bitcoin is a ponzi scheme is without merit.

Point by point refutation if you care to read:

Bitcoin Is Not a Ponzi Scheme ? LewRockwell.com

God luck with it. Its all just people opinions, and the only test to prove one way or the other will be that of time.

 

[Certaindeaf]

Does anyone here have any actual skin in the game/have any "money" in bitcom? Sounds like a lot of conjecture, byatching and pimping.

 

[EZLivin]

Does anyone here have any actual skin in the game/have any "money" in bitcom? Sounds like a lot of conjecture, byatching and pimping.

I don't. But I'm interested in following it since the trend is towards eliminating cash and going digital. But I have no compelling reason to use it, and didn't buy it early on as a speculation, so am just an interested observer at this point.

 

[Burt Gummer]

I find the whole thing pro and con interesting and am also just an observer. I have an open mind because things I once believed real and true are ridiculous, and many things I thought ridiculous are real and true.

Nothing is more freedom-robbing than the fractional reserve banking system, the greatest Ponzi fraud of them all backed by the worst crooks of them all (the Oligarchs who own the Fed), so I am open minded.

Did go to a couple sites that accept Bitcoins to purchase actual products and they don't seem too attractive. More like stepping up to the counter at a nickel arcade with your tickets to 'cash in.' Would you like taffy or a whistle?

 

[TJdamon]

Imagine how this guy feels, Oops...

$9M Bitcoin haul buried in U.K. rubbish tip - Nov. 29, 2013

 

[U201491]

It will be interesting to see how this plays out.

'WE'LL TRY ANYTHING' Officials to donate salary in Bitcoins to help Ky. town, http://fxn.ws/1f0paW8

 

[Grunwald]

It is a complete scam. It is not backed by anything.
The garbage that is any nation's currency at least has the backing of said nation.
The USD is backed by over 100 million taxpayers and the economic activity of the nation.
It is also backed by the force of government that all debt to said government must be paid in USD.

Bitcoin is backed by thousands of lonely young adult males who live in their mothers' basements.

 

[U201491]

It is a complete scam. It is not backed by anything.
The garbage that is any nation's currency at least has the backing of said nation.
The USD is backed by over 100 million taxpayers and the economic activity of the nation.
It is also backed by the force of government that all debt to said government must be paid in USD.

Bitcoin is backed by thousands of lonely young adult males who live in their mothers' basements.

Yep

 

[Certaindeaf]

Their second life is probably their only life..

Second Life - Wikipedia, the free encyclopedia

 

[Burt Gummer]

It is a complete scam. It is not backed by anything.
The garbage that is any nation's currency at least has the backing of said nation.
The USD is backed by over 100 million taxpayers and the economic activity of the nation.
It is also backed by the force of government that all debt to said government must be paid in USD.

Bitcoin is backed by thousands of lonely young adult males who live in their mothers' basements.

Funny - excellent! hahahaha

I guess if I actually saw proof that someone who 'earned' a couple million dollars in Bitcoins was actually able to trade them for the same amount of real goods, like gold, then I would be impressed though.

Instead most are sitting playing Dota2 every night. This girl I am dating has a son that does the Bitcoin thing and plays Dota2 eight hours every single night. Must be the laziest 17 year old on planet Earth. She told me the other night she'll be excited to see him graduate and turn 18. I asked why? Sorry, but junior is going to be leeching off you well into his 30s or 40s if we are around that long ....