"I was wrong about Bitcoin"

thoughtomator said:
I have no vested interest in pumping anything, which is why I don't pump anything. Unlike your relationship to BitCoin, I stand to gain no particular benefit from adoption of a metallic standard that is not also gained by everyone else. Likewise, I gain nothing from a Paul ascendancy that is not also gained by everyone else.

That you immediately moved to attack my motives and swear false witness against me exposes you for what you really are.



I have no "agenda to hate on BTC". I have been silent to date on the subject having not had enough information to establish a position on the issue. The record shows this to be true.



I recognize a pump-and-dump financial scam when I see one, from many years of observing the crooks on Wall St. do exactly this. Your behavior fits the pattern of someone "talking their book" precisely. Your comment record also shows that you immediately move to insult as a first argument when anyone raises any concern about the soundness of BTC.

I have held my peace up until now but I will not remain silent knowing that Bitcoin is a confidence game, letting others get sucked into it. From here on in, you will receive negative rep every time you attempt to again push this scam on this site.
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Isn't that just it, though? The crooks on Wall St. are NOT pumping this. That, in my mind, makes it more legit. Instead, we have a bunch of individuals who pump it because they are invested... well, no shit! Isn't that what people do? At least we are not a big Wall St. investor where what we say actually has an influence on the market. This reminds me of Rotschild pumping the demise of England and then buying it back for pennies on the dollar. Nobody you see here is a Rotschild banker or Wall St. investor. We don't hold much sway, so at least SOME of what's going on here is NOT due to pumping but is actually legitimate transactions happening with bitcoins.

The thing you fail to realize is that you telling us we're pumping it like Wall St is fallacious exactly because we are NOT Wall St.
 
psi2941 said:
I have nothing against bitcoin, if you want to use it its your business. However when people with a personal gain are pumping bitcoins on this forums under "sound money" i have a problem with. If you like bitcoin so much, theres a place for you on this forum https://bitcointalk.org/.
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If you can't logically explain why bitcoin isn't really sound-money then your whole point of view is totally useless.
 
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Disclaimer: I am not invested in Bitcoin at all

I love the idea of bitcoin for one reason and one reason only. Competition!
 
Petar said:
If you can't logically explain why bitcoin isn't really sound-money then your whole point of view is totally useless.
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I'd like to hear a logical explanation on why it IS sound money.

1.) it is not time tested
2.) it has fluctuated wildly
3.) it is not a store of value
4.) it is not backed by anything tangible

These are all criteria that I have found to be true of sound money.
 
I bought one today.... and it's already up a couple more than what I locked in at. I should've bought 2 or 3.
 
psi2941 said:
I have nothing against bitcoin, if you want to use it its your business. However when people with a personal gain are pumping bitcoins on this forums under "sound money" i have a problem with. If you like bitcoin so much, theres a place for you on this forum https://bitcointalk.org/.
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I see no problem with helping expose people that are members here or guests to the BTC phenomenon. They're free to do their own research and I highly encourage people to monitor the site you posted as it's the one-stop shop for all info relating to BTC. And, as one reads up over there even the experts freely say that anything is possible in terms of it going belly-up. Yet, they are long on BTC because they are hell bent on being revolutionaries that are working to subvert central bankers. And if they turn out wealthy in the process then so be it. Virtually all of the posters over there have been BTC holders from early on and have already made significant sums and some claim to be rich. Plus, all of them are very well knowledgeable in web development and other computer related stuff whereas I'm not. It's hard for common folk to follow along and it's easier here because the proponents explain things much more clearer.

Back to BTC, there's no doubt that speculation is involved, it just all depends on how strongly one believes in the fundamentals and where that will lead. I've known about this currency ever since it was a few dollars a piece which is about 1.5-2 yrs ago as it's been advertised on FTL and discussed at length during this previous time period. As usual, I was slow to catch on and see the benefits and only recently have I done my due diligence which has ignited my fire for them. Prior to this, every time BTC was promoted or talked about on that show I'd cringe and :rolleyes: to the point it would make me aggravated. I think it's fair and healthy for BTC to be discussed here as it allows other liberty lovers to catch on and either pass on it or allow them to get in the game now or soon.
 
PaulConventionWV said:
Isn't that just it, though? The crooks on Wall St. are NOT pumping this. That, in my mind, makes it more legit.
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There are already Bitcoin hedge funds. Wall St. isn't too interested right now because they can steal more on a Saturday than the entire market value of all Bitcoin in existence.
 
this time is different. Surely something that is based off the creations of some 1's and 0's and goes up 5-10 percent every day should be trusted.
 
jclay2 said:
this time is different. Surely something that is based off the creations of some 1's and 0's and goes up 5-10 percent every day should be trusted.
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It's a giant experiment, and we're the mice. An evolution of failure.
 
The system that was designed to avoid banks is growing as trust in banks is falling. I think bitcoins is working for the reasons it was created. If my savings accounts were raided by the gov't I wouldn't trust banks either!
 
FSP-Rebel said:
I see no problem with helping expose people that are members here or guests to the BTC phenomenon. They're free to do their own research and I highly encourage people to monitor the site you posted as it's the one-stop shop for all info relating to BTC. And, as one reads up over there even the experts freely say that anything is possible in terms of it going belly-up. Yet, they are long on BTC because they are hell bent on being revolutionaries that are working to subvert central bankers. And if they turn out wealthy in the process then so be it. Virtually all of the posters over there have been BTC holders from early on and have already made significant sums and some claim to be rich. Plus, all of them are very well knowledgeable in web development and other computer related stuff whereas I'm not. It's hard for common folk to follow along and it's easier here because the proponents explain things much more clearer.

Back to BTC, there's no doubt that speculation is involved, it just all depends on how strongly one believes in the fundamentals and where that will lead. I've known about this currency ever since it was a few dollars a piece which is about 1.5-2 yrs ago as it's been advertised on FTL and discussed at length during this previous time period. As usual, I was slow to catch on and see the benefits and only recently have I done my due diligence which has ignited my fire for them. Prior to this, every time BTC was promoted or talked about on that show I'd cringe and :rolleyes: to the point it would make me aggravated. I think it's fair and healthy for BTC to be discussed here as it allows other liberty lovers to catch on and either pass on it or allow them to get in the game now or soon.
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Rather speculation is involved and if its a really good buy i really don't give a shit. If you want have gay digital masturbation with bit coins i really don't care either. Like is said what really bothers me, if that fact you bozos are pedaling bitcoins as sound money.

1. You guys make insane correlation how bit coins are so rare and can't be reproduced, they can only be "mined." Yet you fail to realize bit coin was man made from the beginning, and i'm a firm believer if it was made by man, it can be made by man again.

2. I would say i'm very tech savvy, pirated every software, movie, and music since 6th grade. Built my first computer 3rd grade and never looked back. With this knowledge, for someone to say its "hack proof" is utter bullshit. No software in the world can be protected 100% ever, someone always finds a way to exploit something or someway its just fact. Even the holy grail of bullshit "apple products" are virus and malware free was proved bullshit 1 month ago, http://www.tuaw.com/2013/02/08/adobe-releases-emergency-flash-update-for-os-x/

3. you guys keep spreading the rumor that its hack proof the best mathematics and software developers has went through the system line by line and said its hack proof. Give me those names, who really when though the source code line by line. What are their professions and what do they do for living. you guys keep spreading that rumor but can't give me the source of that report and if you do its some bullshit unreliable source.

4. Then you guys can't seem to defend the argument bit coin doesn't really have any intrinsic value. The best you little kids can reply with is the argument of a 4 year old. Why? why? why? why? you guys try to deviate the argument saying what makes things intrinsic, intrinsic. It doesn't change the fact you can't touch, feel bit coins.

Just sear utter bullshit after bullshit. of course your going to reply back with your shitty arguments that doesn't even make sense to me how bit coins are so valuable blah blah blah blah. Just like how a politicians spin shit but when the smoke clears people with a rational mind can clearly see in the end its just bunch of 1s and 0s on a hard drive.

but you know what that's cool with me, if you want to use bit coins use it. I just have a problem with the fact your pedalling that shit if its sound currency when its just another form if "FIAT" currency. THIS IS MY ONLY PROBLEM, I DONT CARE IF ITS A PONZI SCHEME, PUMP AND DUMP, ITS THE FACT ITS ANOTHER FIAT CURRENCY.
 
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^Bitcoin is by definition NOT a fiat currency.

Fiat money is money that derives its value from government regulation or law.
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Bitcoin has the potential to be sound money, although because of the constant price increases it is difficult to consider it "sound" since the value continues to rise so quickly. But that is simply the nature of creating a new currency that ends up being very valuable in a world full of fiat currencies. It's not a flaw.
 
dannno said:
^Bitcoin is by definition NOT a fiat currency.



Bitcoin has the potential to be sound money, although because of the constant price increases it is difficult to consider it "sound" since the value continues to rise so quickly. But that is simply the nature of creating a new currency that ends up being very valuable in a world full of fiat currencies. It's not a flaw.
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like i just said you don't counter my argument with a valid point or a counter argument. Your best counter is to be the definition nazi and take the word "fiat" I meant in the terms of

"Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith."

Just like a politician can't attack the argument logically so just attack something else.
 
psi2941 said:
like i just said you don't counter my argument with a valid point or a counter argument. Your best counter is to be the definition nazi and take the word "fiat" I meant in the terms of

"Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith."

Just like a politician can't attack the argument logically so just attack something else.
Click to expand...


You don't get that bitcoin offers a very valuable service in a world full of banking cartels and fiat currencies, that IS the backing and that is what is going to continue to drive the price higher for years to come.
 
psi2941 said:
Rather speculation is involved and if its a really good buy i really don't give a shit. If you want have gay digital masturbation with bit coins i really don't care either. Like is said what really bothers me, if that fact you bozos are pedaling bitcoins as sound money.

1. You guys make insane correlation how bit coins are so rare and can't be reproduced, they can only be "mined." Yet you fail to realize bit coin was man made from the beginning, and i'm a firm believer if it was made by man, it can be made by man again.
Click to expand...

Stopped right there. Please study up on Bitcoins a bit more.

Also, your sig sucks.
 
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