Bitcoin. Shitcoin. When they pull the plug, how much bitcoins will you have?

bitcoin was approved by the federal reserve last week

You didn't get the question.

When the shit hits the fan, and there is no internet access, how will you use your shitcoin? They will all vanish.

Worse than gold.

Shitcoin is good for nothing but speculation and pump and dump games played by professional shyster traders. There is no fucking way you would accept that shit for real goods. You could sell somebody $100 worth of gold tomorrow for $100 worth of bitcoins and have them be worth $30 by the time the bitcoin transaction clears three days later. Or you buy $100 worth of gold and three days later the bitcoins you bought them with are worth $500.

The volatility will ensure that in reality, bitcoins are worthless.

Right.
And the fact people sell them should say something. They want real money and know it is a scam. They just want to use the scam as quickly as possible for their benefit. They will hype it all, sell, and laugh at the hot potato.

It was a good idea. The creator, whoever he was, just never considered the shyster factor obviously. If some shyster in an office in New York Shitty can manipulate the price, he's going to fuck with it and ruin it, just like everything else we allow him play his little speculation games with.

How do you know the creator didn't figure a shyster factor? How do you know it wasn't his goal to make money as well?

You may well be right about that. For all we know maybe he granted himself a half million of them right off the top.

Revision submitted.

If it's not PHYSICAL silver or gold, then it ain't shit

I keep hearing the same old shit, First of all gold wouldnt be valuable for a while after the shit hits the fan, Dooms day happens no one is going to give a rats ass about gold, They want food,water,medicine,drugs ect.

Secondly most people who are making money with bitcoin cash out a lot of their earnings or invest in making more money through in other ways.

Third, The same could be said about people who use banks or even paypal which im sure MOST people here do still.

Forth, The world needs currencies like bitcoin, Im not saying we should 100% use it but we should have a internet money that is outside the mainstream banking system, For right now we live in a digital age and that probably wont change world wide.

Last Edited by The Deplorable AtsuiPanda on 12/02/2013 04:34 PM

Good article on the fallacy of bitcoins sustainability


[link to www.wired.com]

In light of the fast spreading environmental catastrophes emerging...perhaps it would be better to stockpile CLEAN water, food and other assorted sundries