RudyRuder Posted March 25, 2017 Report Share Posted March 25, 2017 this thread is bad on so many levels Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 25, 2017 Report Share Posted March 25, 2017 How so Rudy?? Quote Link to comment Share on other sites More sharing options...
Guest pocketrockets Posted March 25, 2017 Report Share Posted March 25, 2017 What are you good at? You never defend anything you say. First you say it's a difficult problem for books to handle bitcoin price risk, now bitcoin is a ponzi scheme. What next? The moon doesn't exist? Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted March 25, 2017 Report Share Posted March 25, 2017 How is it a ponzi scheme?It is basically a Ponzi scheme in that it is based on faith. There is no there there. It is basically e-gold. It is nothing more than a concept with the idea that a currency with a limited issuance will hold value. But that currency is not backed by any authority so it is at its core worthless. That's a Ponzi scheme. Buyer buy based on perceived worth. Eventually they figure out the whole scheme is based on people buying to infinity and then it collapses. Bitcoin may or may not be constructed better than the average Ponzi. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 25, 2017 Report Share Posted March 25, 2017 BitCoin is going to collapse??? How soon do you see this happening??????? Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted March 25, 2017 Report Share Posted March 25, 2017 BitCoin is going to collapse??? How soon do you see this happening???????Yes. It will eventually collapse. Bitcoin is a solution in search of a problem. It has no real use other than as a speculative investment and for funding illicit activities. But those uses are somewhat significant so when it goes is anyone's guess. It could last a long while. Just because something is a Ponzi does not mean it will collapse. The United States is a Ponzi scheme and it is still going strong. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 25, 2017 Report Share Posted March 25, 2017 ACH, agree Quote Link to comment Share on other sites More sharing options...
Guest boatboatboat Posted March 25, 2017 Report Share Posted March 25, 2017 currency is not backed by any authority so it is at its core worthless. That's a Ponzi scheme. Buyer buy based on perceived worth. Eventually they figure out the whole scheme is based on people buying to infinity and then it collapses..EGGZACTLEE Quote Link to comment Share on other sites More sharing options...
Reno Marty Posted March 25, 2017 Report Share Posted March 25, 2017 Yes. It will eventually collapse. Bitcoin is a solution in search of a problem. It has no real use other than as a speculative investment and for funding illicit activities. But those uses are somewhat significant so when it goes is anyone's guess. It could last a long while. Just because something is a Ponzi does not mean it will collapse. The United States is a Ponzi scheme and it is still going strong. Disagree with your first previous post that a currency not backed by any authority is worthless (the Venezuelan Bolivar is backed by an authority and it is worthless). But, agree with this post. Every currency is a ponzi scheme. It only has value so long as everyone else thinks it has value. In a lot of ways the lack of authority in bitcoin is an asset; unlike a central bank, no one can just start printing bitcoin (as far as I know). The concept is solid, the drop in its value is because of the possibility of alternatives just like it. Quote Link to comment Share on other sites More sharing options...
Guest pocketrockets Posted March 25, 2017 Report Share Posted March 25, 2017 Disagree with your first previous post that a currency not backed by any authority is worthless (the Venezuelan Bolivar is backed by an authority and it is worthless). But, agree with this post. Every currency is a ponzi scheme. It only has value so long as everyone else thinks it has value. In a lot of ways the lack of authority in bitcoin is an asset; unlike a central bank, no one can just start printing bitcoin (as far as I know). The concept is solid, the drop in its value is because of the possibility of alternatives just like it. good point Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 25, 2017 Report Share Posted March 25, 2017 Marty, agree GL on all your plays today. Quote Link to comment Share on other sites More sharing options...
Yanks Posted March 25, 2017 Report Share Posted March 25, 2017 Marty, agree GL on all your plays today. Quote Link to comment Share on other sites More sharing options...
Always Call Heads Posted March 25, 2017 Report Share Posted March 25, 2017 Disagree with your first previous post that a currency not backed by any authority is worthless (the Venezuelan Bolivar is backed by an authority and it is worthless). But, agree with this post. Every currency is a ponzi scheme. It only has value so long as everyone else thinks it has value. In a lot of ways the lack of authority in bitcoin is an asset; unlike a central bank, no one can just start printing bitcoin (as far as I know). The concept is solid, the drop in its value is because of the possibility of alternatives just like it. The Venezuela currency is not worthless and will make a rebound at some point in the future when confidence in the govt is restored or the US successfully overthrows the regime and installs its own right-wing govt. Unlike Venezuela which will exist in the future, bitcoin is subject to technical failure at any time. It will most likely be a technical failure which destroys bitcoin rather than the perceived value of the currency which has some value due to gambling alone. But the costs of supporting bitcoin at some point will probably exceed the value. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 25, 2017 Report Share Posted March 25, 2017 Good thread Quote Link to comment Share on other sites More sharing options...
Guest boatboatboat Posted March 25, 2017 Report Share Posted March 25, 2017 Yes it is a very good thread and hopefully it gives some posters some insight to why moving Bitcoin back and forth with a book might not be as easy as they believe it should be Quote Link to comment Share on other sites More sharing options...
Guest pocketrockets Posted March 25, 2017 Report Share Posted March 25, 2017 Yes it is a very good thread and hopefully it gives some posters some insight to why moving Bitcoin back and forth with a book might not be as easy as they believe it should be JFC you with this again Quote Link to comment Share on other sites More sharing options...
Guest boatboatboat Posted March 25, 2017 Report Share Posted March 25, 2017 Is www access free in Costa rica? Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 25, 2017 Report Share Posted March 25, 2017 Bitcoin fabulous to use for offshore books transactions, and relatively simple also.......... Quote Link to comment Share on other sites More sharing options...
Cdmx Posted March 25, 2017 Report Share Posted March 25, 2017 Yes it is a very good thread and hopefully it gives some posters some insight to why moving Bitcoin back and forth with a book might not be as easy as they believe it should beExcuses for shit books. Got 100k in payouts from bol group this month. No issues. Quote Link to comment Share on other sites More sharing options...
Guest pocketrockets Posted March 25, 2017 Report Share Posted March 25, 2017 Is www access free in Costa rica? no, but at 20$ a month for 3MB i dont see whats the big deal Quote Link to comment Share on other sites More sharing options...
Guest pocketrockets Posted March 25, 2017 Report Share Posted March 25, 2017 Excuses for shit books. Got 100k in payouts from bol group this month. No issues. alpaca excuses Quote Link to comment Share on other sites More sharing options...
Reno Marty Posted March 25, 2017 Report Share Posted March 25, 2017 ACH, there's no doubt that the Bolivar is more likely to be around in 5 years than Bitcoin. Bitcoin faces much larger risks, but at the end of the day it is a currency and every currency has ups and downs and questions about its worth down the road. Bitcoin has a technical component to it as you mention and the US could impose all sorts of regulations on it as we are all aware they are capable of, even if outside their jurisdiction. But, at its core, bitcoin is only a ponzi scheme in as much as the USD is a ponzi scheme. And that is no reason to avoid holding USD. Quote Link to comment Share on other sites More sharing options...
Reno Marty Posted March 25, 2017 Report Share Posted March 25, 2017 Bitcoin is arguably even better than Skrill/Neteller in the glory days for non-Americans. Lower fees, tons of wallets, anonymity. For an American not to be a fan of bitcoin because its price fluctuates is just moronic, not to mention that those fluctuations have ridiculously positive since its inception. Have fun at WU/MG shops sending $900 at a time, paying brutal fees for P2P payout and/or waiting weeks for a check that you get the pleasure of walking into your bank. But hey, at least you don't have to worry about the value of the currency changing... even though a 5th grade could figure out how to solve that problem too like, you know, holding your BTC in USD instead of in BTC? Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 25, 2017 Report Share Posted March 25, 2017 Excellent avatar Mr. Marty Quote Link to comment Share on other sites More sharing options...
Guest boatboatboat Posted March 25, 2017 Report Share Posted March 25, 2017 Excuses for shit books. Got 100k in payouts from bol group this month. No issues.I assume you deposited via botcoin. Assumption Regardless 100k HUGE Keep it rolling Quote Link to comment Share on other sites More sharing options...
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