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Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates

 
Anonymous Coward
User ID: 79355755
Canada
02/18/2021 04:18 PM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
yep and those sea shells were physical and probably still are there. Again, bitcoin has NO PHYSICAL EQUIVALENT AT ALL.

Bitcoin is like you going back to the sea shells barter time and telling the seashell seller that you take 5 seashells for NOTHING. If the seashell seller might have a strange kind of humor, he'd probably give you those 5 seashells cause he recognizes that you've used a lot of thinking-energy to come up with that scam.
 Quoting: Anonymous Coward 79144438


I'm trying to follow your logic... Are you saying that your argument here carries ZERO WEIGHT to us because you didn't physically print it out on page and bind it into a book?

Guys, it's simple. Sea shells, tally sticks, interesting rocks, etc, have been used as a medium of exchange in our civilization because we trusted it's scarcity and it's ability to hold value over time. Based on this, one can work and perform a service or produce a good and exchange it with others using a fungible form of exchange. OK, maybe it's not simple... Please do your own research.

Bitcoin has the same qualities as above. That was it's purpose and it's been running for 12 years long. It's a form of digital scarcity with a billion dollar network running under the hood.
Anonymous Coward
User ID: 2492899
United States
02/18/2021 05:03 PM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
yep and those sea shells were physical and probably still are there. Again, bitcoin has NO PHYSICAL EQUIVALENT AT ALL.

Bitcoin is like you going back to the sea shells barter time and telling the seashell seller that you take 5 seashells for NOTHING. If the seashell seller might have a strange kind of humor, he'd probably give you those 5 seashells cause he recognizes that you've used a lot of thinking-energy to come up with that scam.
 Quoting: Anonymous Coward 79144438


I'm trying to follow your logic... Are you saying that your argument here carries ZERO WEIGHT to us because you didn't physically print it out on page and bind it into a book?

Guys, it's simple. Sea shells, tally sticks, interesting rocks, etc, have been used as a medium of exchange in our civilization because we trusted it's scarcity and it's ability to hold value over time. Based on this, one can work and perform a service or produce a good and exchange it with others using a fungible form of exchange. OK, maybe it's not simple... Please do your own research.

Bitcoin has the same qualities as above. That was it's purpose and it's been running for 12 years long. It's a form of digital scarcity with a billion dollar network running under the hood.
 Quoting: Anonymous Coward 79355755


They think seashells are somehow better than a trustless distributed ledger. They need to be able to see stuff. Low IQ people need to be able to visualize something.

It reminds me of the discussions about African languages and their inability to understand abstract concepts and didn't even have them in their language. They didn't even account for something like "trust" or the future. These people who shit on crypto remind me of that. They have no capacity for abstract thought and so they can't see the value of the ledger.
Anonymous Coward
User ID: 79355755
Canada
02/18/2021 06:02 PM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
They think seashells are somehow better than a trustless distributed ledger. They need to be able to see stuff. Low IQ people need to be able to visualize something.

It reminds me of the discussions about African languages and their inability to understand abstract concepts and didn't even have them in their language. They didn't even account for something like "trust" or the future. These people who shit on crypto remind me of that. They have no capacity for abstract thought and so they can't see the value of the ledger.
 Quoting: Anonymous Coward 2492899


Yup I hear ya but the whole financial system is difficult to understand. Fractional reserve banking? Derivatives? National asset reserves? CBDCs?

I just hope some of you all that have this gut feeling that Bitcoin is bad/evil/doomed do the following.

Buy $1,000 or whatever you can afford to lose. There is a chance that $1k becomes $100k or more in your lifetime. I'm not kidding. If I'm wrong, call it "I told you so" money. I've seen so many converts over the years. I've also seen people say it's overpriced when the price was in the hundreds of dollars, thousands and where it's at now. The fact is, we are still early in this transition.

And to those that call Bitcoin a a bubble... It kind of is. But so is our lives, we start small as a baby, we grow, we die. That's not bad, that's life. Everything in life is valued arbitrarily on what we deem it to be. We work and we invest our livelihood in this value. If everyone decided at one point that the paper money is worthless... It becomes worthless! That's happening now, slowly and surely.
Anonymous Coward
User ID: 61607723
United States
02/23/2021 03:45 AM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
The Tether is about to be cut off and mass production of fake digital dollars flowing into Butcoin will end on Feb 22...and then it all falls down.
 Quoting: Hydromage


boy did you call it
Anonymous Coward
User ID: 80068236
United States
02/23/2021 04:30 AM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
[link to www.youtube.com (secure)]
JJ Johns
J to the 3rd

User ID: 79040165
Switzerland
02/23/2021 04:43 AM

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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
bumping for later because of tether... some interesting info here.

mad as hell... fuck you joe! #notmypresident

MAGA: TRUMP 2020!
Tekunda

User ID: 76669739
Germany
02/23/2021 04:44 AM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
 Quoting: Anonymous Coward 80068236


I can follow the logic of anti-bitcoiners to the point that they believe in a tangible currency, but and this is a big BUT, this only makes sense if the currency is backed by something tangible, like a gold-backed US$, which alas does not exist.
And even if it were so, 90% of all ledger entries are still just plain computer code.
Or is something physical being moved, like dollar coins or gold coins, if money is being deposited from one bank account to another?
Or that, to the very least, the receiving bank will keep the amount of your deposit in real coins as equivalent?
Of course not. Your deposit just appears in the statement as a line of computer code.
So you tell me why the dollar as a currency, where 90% only exist within the bit and bytes realm, is so much different from bitcoin?
Anonymous Coward
User ID: 80068236
United States
02/23/2021 04:49 AM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
 Quoting: Anonymous Coward 80068236


I can follow the logic of anti-bitcoiners to the point that they believe in a tangible currency, but and this is a big BUT, this only makes sense if the currency is backed by something tangible, like a gold-backed US$, which alas does not exist.
And even if it were so, 90% of all ledger entries are still just plain computer code.
Or is something physical being moved, like dollar coins or gold coins, if money is being deposited from one bank account to another?
Or that, to the very least, the receiving bank will keep the amount of your deposit in real coins as equivalent?
Of course not. Your deposit just appears in the statement as a line of computer code.
So you tell me why the dollar as a currency, where 90% only exist within the bit and bytes realm, is so much different from bitcoin?
 Quoting: Tekunda


TRUST AND FAITH!
Anonymous Coward
User ID: 80068236
United States
02/23/2021 04:51 AM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
 Quoting: Anonymous Coward 80068236


I can follow the logic of anti-bitcoiners to the point that they believe in a tangible currency, but and this is a big BUT, this only makes sense if the currency is backed by something tangible, like a gold-backed US$, which alas does not exist.
And even if it were so, 90% of all ledger entries are still just plain computer code.
Or is something physical being moved, like dollar coins or gold coins, if money is being deposited from one bank account to another?
Or that, to the very least, the receiving bank will keep the amount of your deposit in real coins as equivalent?
Of course not. Your deposit just appears in the statement as a line of computer code.
So you tell me why the dollar as a currency, where 90% only exist within the bit and bytes realm, is so much different from bitcoin?
 Quoting: Tekunda


TRUST AND FAITH!
 Quoting: Anonymous Coward 80068236


ever since the dollar was taken off the gold standard its been trust and faith of the iou dollar
Anonymous Coward
User ID: 80068236
United States
02/23/2021 04:54 AM
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Re: Bitcoin Keeps Hitting New Highs as Crypto Mania Accelerates
 Quoting: Anonymous Coward 80068236


I can follow the logic of anti-bitcoiners to the point that they believe in a tangible currency, but and this is a big BUT, this only makes sense if the currency is backed by something tangible, like a gold-backed US$, which alas does not exist.
And even if it were so, 90% of all ledger entries are still just plain computer code.
Or is something physical being moved, like dollar coins or gold coins, if money is being deposited from one bank account to another?
Or that, to the very least, the receiving bank will keep the amount of your deposit in real coins as equivalent?
Of course not. Your deposit just appears in the statement as a line of computer code.
So you tell me why the dollar as a currency, where 90% only exist within the bit and bytes realm, is so much different from bitcoin?
 Quoting: Tekunda


TRUST AND FAITH!
 Quoting: Anonymous Coward 80068236


ever since the dollar was taken off the gold standard its been trust and faith of the iou dollar
 Quoting: Anonymous Coward 80068236


and yes the printing machines have been running full and the trust and faith is wobbling lately





GLP