Why Is Bitcoin A Big Deal?

[Ares]

Centralized banking and all other forms of intermediary rentier skims are presented as solid. If history is any guide, these supposedly solid entities may well melt into air.

Why is bitcoin considered such a big deal? Why has it grabbed so much mind-share, and why is it skyrocketing? And why is the cryptocurrency sector going bonkers?

The short answer is that cryptocurrency is the first major innovation in money in 300+ years, back when central banks first emerged in the late 1600s as centralized clearing houses for international payments and sole issuers of national bank notes/currency.

(Those who trace central banking to the Bank of Amsterdam's founding in 1609 might say it's the first major innovation in 400 years.)

Why is it an innovation? There are four basic reasons:

1. It's a form of private-sector issued money. It is not issued or controlled by any government or central bank.

2. It is structured in a completely different manner than conventional central-bank issued currency: it is a digital form of money that is issued as payment for those who maintain the database (the blockchain) on their privately owned computers. Since the blockchain is distributed over numerous computers, it is decentralized and distributed rather than centralized.

3. It enables trusted transactions between parties without requiring the services of an intermediary, i.e.a bank which acts as a trusted clearing house for transactions.

4. In the case of the first cryptocurrency, bitcoin, its issuance of tokens (coins) is limited by its design to 21 million coins. No central authority can issue more bitcoins, nor does the structure of the bitcoin blockchain allow for further issuance.

To grasp the significance of these four characteristics, we have to go back to the early history of modern capitalism. My longstanding recommendation is to start with Fernand Braudel's 3-volume history, Civilization and Capitalism, 15th-18th Century:

The Structures of Everyday Life (Volume 1)

The Wheels of Commerce (Volume 2)

The Perspective of the World (Volume 3)

Many of the functional pieces of modern capitalism were private-sector innovations, starting with banking and credit (some of which was borrowed from Arab traders). In the good old days of the 1500s, if the King of Spain wanted to finance a costly voyage around the world (Magellan's circumnavigation in 1519-1522), he turned to private-sector lenders.

Insurance, stock markets, futures markets and options were all private-sector innovations designed spread the risk and reward of ventures such as trading voyages to the Spice Islands.

Since so many ships were lost at sea, backers sought insurance for the losses, and the trade in shares of the ship's cargo and the insurance against its loss enabled a lively trade in these financial instruments that were the rough equivalent of modern-day options.

When a merchant vessel was seriously overdue, the value of the shares of its cargo plummeted as investors gave up hope of earning their hoped-for return. So some enterprising traders paid watchers to scan the shoreline for incoming ships matching the description of the overdue ships.

Should the overdue ship appear off the coast of France, runners would hurry to Amsterdam to inform the trader who would then promptly scoop up cheap shares of the cargo, scoring huge profits when the ship docked a few days later, cargo intact.

The rate of expansion of private-sector innovations is much higher than those of centralized authority. Centralized authority must act deliberately, and in consultation with all the various power centers of the society and economy. Disagreements can incapacitate the system for years or even decades.

The private sector, in contrast, is a free-for-all of a multitude of players with an enormous range of ideas, schemes, scams, risk appetites, insider knowledge (i.e. asymmetric knowledge), capital, expertise and so on, all networked through a fast-expanding spectrum of media and exchanges.

This private-sector ferment is on display in the cryptocurrency space. Scams and brilliant innovations are shoulder to shoulder in a fast-moving mob. No wonder so many players and traders want to join the mob and figure out some competitive advantage or gain some asymmetric knowledge, knowledge which can be as simple as the understanding that hard forks aren't bad for bitcoin, as so many feared, as each new iteration claims to improve some aspect of bitcoin's functionality.

Over 100 hedge funds and other institutional players are muscling into the market, anxious to scale in and scale up before competitors grab market share.

If we compare the market cap of all cryptocurrencies, currently $178 billion, with the total financial assets of the global economy ($300+ trillion) and real estate ($200+ trillion), we get a sense of "early days." Bitcoin's market cap of $100 billion wouldn't even show up as a thin line on this chart of global financial assets:


http://www.oftwominds.com/photos2017/global-assets1-17.jpg

Here is a one-year chart of bitcoin:

http://www.oftwominds.com/photos2017/coindesk10-30-17.png

As Marx presciently noted, capitalism melts all that is solid into air. (All that is solid melts into air.) Centralized banking and all other forms of intermediary rentier skims are presented as solid. If history is any guide, these supposedly solid entities may well melt into air.

http://www.zerohedge.com/news/2017-10-31/why-bitcoin-big-deal

[Carl]

Bitcoin is not a "coin" and it's not a "currency", it's an electronic toy that has captivated the fluoride addled minds of the gullible and the speculators looking to profit from them.

Go down to Puerto Rico and ask them the "currency value" of bitcoin or for that matter a debit card when there's no electricity.

[Ares]

Bitcoin is not a "coin" and it's not a "currency", it's an electronic toy that has captivated the fluoride addled minds of the gullible and the speculators looking to profit from them.

Go down to Puerto Rico and ask them the "currency value" of bitcoin or for that matter a debit card when there's no electricity.

Sure, just go down to Venezuela and ask them which currency they prefer. Gold which can be confiscated by the government or Crypto which anyone with a smartphone can utilize.

You can be a gold bug purists all you want. But it isn't going to change anything. Gold is locked, stocked and under their control, and has been for over a century.

If the near collapse in 2008 when they dumped literally trillions of dollars into the economy to try and prop it up and Gold couldn't break over 2k didn't show you anything, then you'll never learn.

How much gold is in Fort Knox again? You don't even know how much they hold so that gives them the total control of shorting it all damn day with a printing press that they also control. Remember when the COMEX couldn't deliver when their gold inventory was nearly wiped out? We all thought for sure it would cause something (liquidation, bankruptcy a spot light on fraud, anything.), instead they instituted cash settlements and the COMEX continues to this day to be the clearing house of fraud and corruption.

I haven't sold a single ounce of the Gold and Silver I own, your inability to grasp what a tool blockchain technology is due ideological or ignorance really doesn't matter. A system of trustless decentralized individuals is truly ground breaking.

When the lights go out like in Puerto Rico, you'd also be hard pressed to find someone who would accept gold or silver. In those types of circumstances history has shown that money in any form is completely worthless and people start trading food or sanitation items amongst each other.

[Carl]

Anything that has to be translated into a monetary value is not a money. You may be able to barter with it at some level but that doesn't make it money and it sure as hell is not a currency in economic circulation being used as a standardized unit of account and medium of exchange. Bitcoin is an electronic toy, a current fad that will die when the novelty of it wares off.

[crimethink]

Bitcoin is not a "coin" and it's not a "currency", it's an electronic toy that has captivated the fluoride addled minds of the gullible and the speculators looking to profit from them.

A bit harsh, but essentially true. BitCoin can be used as a weapon for individual goals (e.g., a much higher degree of privacy in e-commerce), but that's pretty much it. It cannot be and never will be a panacea.

[crimethink]

Gold is locked, stocked and under their control, and has been for over a century.

It is almost certain "Satoshi Nakamoto" is the pseudonym of a Jew* and/or the nym of a group working for a state-level "intelligence agency."

The fact all Rothschild-owned "governments" have not utterly banned BitCoin is solid evidence it is just as controlled.

Anything thought to the contrary is blind faith.




* Possibly "Hungarian" lawyer and cryptologist Nick Szabo.

[EE_]

Sure, just go down to Venezuela and ask them which currency they prefer. Gold which can be confiscated by the government or Crypto which anyone with a smartphone can utilize.

You can be a gold bug purists all you want. But it isn't going to change anything. Gold is locked, stocked and under their control, and has been for over a century.

If the near collapse in 2008 when they dumped literally trillions of dollars into the economy to try and prop it up and Gold couldn't break over 2k didn't show you anything, then you'll never learn.

How much gold is in Fort Knox again? You don't even know how much they hold so that gives them the total control of shorting it all damn day with a printing press that they also control. Remember when the COMEX couldn't deliver when their gold inventory was nearly wiped out? We all thought for sure it would cause something (liquidation, bankruptcy a spot light on fraud, anything.), instead they instituted cash settlements and the COMEX continues to this day to be the clearing house of fraud and corruption.

I haven't sold a single ounce of the Gold and Silver I own, your inability to grasp what a tool blockchain technology is due ideological or ignorance really doesn't matter. A system of trustless decentralized individuals is truly ground breaking.

When the lights go out like in Puerto Rico, you'd also be hard pressed to find someone who would accept gold or silver. In those types of circumstances history has shown that money in any form is completely worthless and people start trading food or sanitation items amongst each other.

You were one of the few smart one's while many of us pooh poohed the idea. Had we have listened when bitcoin was first introduced here, we would be jumping up and down right now.
I believe Bitcoin was first talked about here when it was $40. A $4,000 investment would be worth $636,400 right now. Congrats to Ares and the others who jumped in!

[Ares]

It is almost certain "Satoshi Nakamoto" is the pseudonym of a Jew* and/or the nym of a group working for a state-level "intelligence agency."

The fact all Rothschild-owned "governments" have not utterly banned BitCoin is solid evidence it is just as controlled.

Anything thought to the contrary is blind faith.




* Possibly "Hungarian" lawyer and cryptologist Nick Szabo.

I have yet to see anyone explain how a decentralized ledger (blockchain) can be controlled. Please explain.

[Ares]

You were one of the few smart one's while many of us pooh poohed the idea. Had we have listened when bitcoin was first introduced here, we would be jumping up and down right now.
I believe Bitcoin was first talked about here when it was $40. A $4,000 investment would be worth $636,400 right now. Congrats to Ares and the others who jumped in!

Bitcoin like other cryptocurrencies are just units of account. There is no intrinsic value to Bitcoin, that is reserved for Gold and Silver. Always has been, always will be. For modern life when the vast majority of Gold and Silver are controlled to the point of being neutered that they can't even break 2k in FRN value when there is literally trillions of dollars dumped into the economy that tells me something is very wrong, and that while Gold and Silver are a great safe haven, they'll never be able to be unshackled from the Jew while they have their unlimited printing presses all over the world buying each others debt.

[Ares]

Anything that has to be translated into a monetary value is not a money. You may be able to barter with it at some level but that doesn't make it money and it sure as hell is not a currency in economic circulation being used as a standardized unit of account and medium of exchange. Bitcoin is an electronic toy, a current fad that will die when the novelty of it wares off.

I beg to differ. The electronic toy that is constantly adjusted to serve the Jew would be the dollar. You still use it, you still pay for goods and services with it, and by your own definitions it also fails to make the grade of money or even be called a currency.

I see national currency as Public "money" Bitcoin and other blockchain assets appear to be shaping up as a "Private money".

I see all of this as the free market attempting to find a solution to over regulation, over burden of debt, and state oppression in peoples daily lives in any transaction that takes place. From buying a house, car, groceries all take place within the states oversight and can be taken away at will (frozen bank account.)

If anything Bitcoin, blockchain etc get people to look at currencies in general and to re-evaluate what is money. Whether you me or anyone here likes it or not. Cryptos are reaching an audience that we could never dream possible.

Unless you have a better solution this "toy" as you call it will continue to advance and offer other services. There is even a new one called Waves that I find just as ground breaking as Ethereum as it offers a decentralized Exchange. One in which that cannot be shut down by governments like btc-e was and you're not trusting your funds to an Exchange wallet that could be hacked.

[Carl]

Money's only value is in its use and acceptance as a unit of account and medium of exchange.
Money's only worth, is in what it can buy.

Bitcoin, like all the other blockchain toys, is not a unit of account or a medium of exchange. It's a novelty with its only apparent value or use being a vehicle for speculators. The Tulip Bulb of the 21st century.

The jews don't own the legal tender dollar.

[Ares]

Money's only value is in its use and acceptance as a unit of account and medium of exchange.
Money's only worth, is in what it can buy.

Bitcoin, like all the other blockchain toys, is not a unit of account or a medium of exchange. It's a novelty with its only apparent value or use being a vehicle for speculators. The Tulip Bulb of the 21st century.

The jews don't own the legal tender dollar.

Yes they do. The Federal Reserve is currently run by a Jew. Central banking is a Jew creation. To say otherwise is denying 500 years of banking.

Tulip bulbs and blockchain have nothing in common as you couldn't do anything with Tulip bulbs other than trade or plant them.

Blockchain like Ethereum is allowing ICO's (Electronic stocks outside of Dow Jones and the mainstream stock exchanges.) It also allows for smart contracts eliminating a trusted company to be the broker between 2 parties.

WAVES created a decentralized exchange with it's blockchain as well as allows for ICO's and smart contracts. To deny these utilities is to overlook technological progress to gain efficiencies in commerce.

[crimethink]

I have yet to see anyone explain how a decentralized ledger (blockchain) can be controlled. Please explain.

You make use a felony. Simple. Declare BitCoin "only suited for money laundering," and put FinCEN in charge of prosecutions.

The idea that BitCoin allows total anonymity is bizarre. That might be true if the NSA StasiNet were not involved in the transaction, but 99.99% of BitCoin transactions are on networks controlled and/or monitored by the NSA or FVEY/SSEUR "partners."

If "they" considered BitCoin a threat, its use would at least require a mandatory filing, like a SAR for "excessive" cash transactions.

[Ares]

You make use a felony. Simple. Declare BitCoin "only suited for money laundering," and put FinCEN in charge of prosecutions.

Easily subverted by going to a jurisdiction where it's use is legal.


The idea that BitCoin allows total anonymity is bizarre. That might be true if the NSA StasiNet were not involved in the transaction, but 99.99% of BitCoin transactions are on networks controlled and/or monitored by the NSA or FVEY/SSEUR "partners."

I never understood why someone said it was anonymous to begin with the very nature of the blockchain is a public ledger that everyone has a copy of. There are ways to make it anonymous, but most are overly technical to account for and take a lot of time to do it well (off chain transactions). ZCash and Monero take care of that by allowing anonymous transactions on their blockchain.


If "they" considered BitCoin a threat, its use would at least require a mandatory filing, like a SAR for "excessive" cash transactions.

Look at another thread I posted where they recently arrested a man in Michigan for not having a Money Transmitting license because he sold Bitcoin.

http://gold-silver.us/forum/showthread.php?97189-The-Government-Continues-Attempts-To-Take-Down-Bitcoin-Through-Nefarious-Means

[Carl]

Yes they do. The Federal Reserve is currently run by a Jew. Central banking is a Jew creation. To say otherwise is denying 500 years of banking.

The Federal Reserve is just an intermediary between the Treasury and the end user of the currency, which is only issued to meet depositor demand, it's illegal for the Fed to use it for any other purpose.
The FOMC has nothing to do with the money supply, it deals in debt/credit, the private "money" of the banksters.


Tulip bulbs and blockchain have nothing in common as you couldn't do anything with Tulip bulbs other than trade or plant them.

Blockchain like Ethereum is allowing ICO's (Electronic stocks outside of Dow Jones and the mainstream stock exchanges.) It also allows for smart contracts eliminating a trusted company to be the broker between 2 parties.

WAVES created a decentralized exchange with it's blockchain as well as allows for ICO's and smart contracts. To deny these utilities is to overlook technological progress to gain efficiencies in commerce.

Tulip Mania: When Tulips Cost As Much As Houses (https://www.focus-economics.com/blog/tulip-mania-dutch-market-bubble)

[Ares]

The Federal Reserve is just an intermediary between the Treasury and the end user of the currency, which is only issued to meet depositor demand, it's illegal for the Fed to use it for any other purpose.
The FOMC has nothing to do with the money supply, it deals in debt/credit, the private "money" of the banksters.

LOL like anything regarding legality would stop them. Tell me under what law and legal rights did the federal reserve use to justify blowing up it's balance sheet with garbage. Why did it take an act of Congress to look over the feds emergency measures to find out what it was doing? The next question is if it did do anything illegal what would be the consequences?

You must be kidding me on international jewry not being involved with the installation of the private federal reserve.




Tulip Mania: When Tulips Cost As Much As Houses (https://www.focus-economics.com/blog/tulip-mania-dutch-market-bubble)

And? You like to call it tulip bulbs, but I don't think it means what you think it does. I'll ask you again, what can you do with tulips outside of planting or trading them. I can name you hundreds of things that you can do with blockchain.

[Horn]

LOL like anything regarding legality would stop them. Tell me under what law and legal rights did the federal reserve use to justify blowing up it's balance sheet with garbage. Why did it take an act of Congress to look over the feds emergency measures to find out what it was doing? The next question is if it did do anything illegal what would be the consequences?

You must be kidding me on international jewry not being involved with the installation of the private federal reserve.





And? You like to call it tulip bulbs, but I don't think it means what you think it does. I'll ask you again, what can you do with tulips outside of planting or trading them. I can name you hundreds of things that you can do with blockchain.

These are the very same reasons that bitcoin is not a big deal.

A federal reserve block and chains already exist as untouchable, impenetrable, highly corruptable and volatile.

All those very same hallmarks the fed has.

[Ares]

These are the very same reasons that bitcoin is not a big deal.

A federal reserve block and chains already exist as untouchable, impenetrable, highly corruptable and volatile.

All those very same hallmarks the fed has.

Except that the Federal Reserves Ledger is completely private. Bitcoins Ledger is public knowledge and can see what's in circulation, what is not. You can view current number of transactions for every single block.

Show me where I can find where money is going on the Fed's ledger. I'll wait....

[crimethink]

Easily subverted by going to a jurisdiction where it's use is legal.


It's been clear the entire planet is run by the Elders of Zion for quite some time.




I never understood why someone said it was anonymous to begin with the very nature of the blockchain is a public ledger that everyone has a copy of. There are ways to make it anonymous, but most are overly technical to account for and take a lot of time to do it well (off chain transactions). ZCash and Monero take care of that by allowing anonymous transactions on their blockchain.


An electronic transaction can never be "anonymous" when all traffic is monitored, "encryption" or not.




Look at another thread I posted where they recently arrested a man in Michigan for not having a Money Transmitting license because he sold Bitcoin.

http://gold-silver.us/forum/showthread.php?97189-The-Government-Continues-Attempts-To-Take-Down-Bitcoin-Through-Nefarious-Means

Zealous persecutors using statutes not aimed at Bitcoin.

[Carl]

LOL like anything regarding legality would stop them. Tell me under what law and legal rights did the federal reserve use to justify blowing up it's balance sheet with garbage. Why did it take an act of Congress to look over the feds emergency measures to find out what it was doing? The next question is if it did do anything illegal what would be the consequences?

You must be kidding me on international jewry not being involved with the installation of the private federal reserve.
Please quote me where I stated that "international jewry was not being involved with the installation of the private federal reserve"

In order to understand the Fed's $4.5-Trillion 'denominated in dollars' balance sheet, you have to understand what comprises that balance sheet. So in that vein, let's cover just two of its primary components.

The first component is $2.4-Trillion of bank assets (not money) held on deposit at the Fed. The majority of these bank-owned assets (primarily Treasuries and Agency Mortgage Backed Securities) are referred to as "excess reserves". The Fed, being a depository for the banking system, has little control or say over the disposition of those assets.

The second component is $1.53-Trillion of assets (primarily Treasuries and Agency Mortgage Backed Securities) held as collateral backing the issue of legal tender from the Treasury, it cannot get rid of that.

Setting aside several billion in other Fed held assets they can’t unload, you’re looking at maybe about $520 Billion or so in Fed held assets that they can actually work with. Not so much, is it.

Let’s look at this from a different angle, 'reserves'. 'Reserves' is one of those ambiguous Fed doublespeak terms that can reference a range of different items and aspects of the bankster system serving different functions. So, let’s cover, what are ‘reserves’?

1) Reserves are: Cash held in bank vaults (actual money).
2) Reserves are: Bank assets held on deposit at the Fed (not money).
3) Reserves are: Assets purchased by the Fed in its open market operations (credit generation).
4) Reserves are: The liquidity provided by #2 and #3 in the interbank settlement system (credit).

When the Fed talks about 'adjusting bank reserves', it’s talking about using #3 to effect changes in #4 and because the interbank system is a closed system, under normal conditions, the Fed could affect the overnight interest rates (interest charged on loans within the interbank system) by buying and selling its reserve assets, which affected available liquidity (also referred to as 'money supply') in the interbank system, which also affects the banking system's ability to generate debt/credit as 'loans'.

That’s not the case anymore. With the banks holding excess reserves (assets) providing liquidity (credit) to the interbank system, the Fed’s ability to affect Interbank interest rates in the traditional manner has been effectively naturalized. This is because the Fed’s share of the liquidity is proportionally insignificant to the liquidity provided via the banks’ reserve assets parked at the Fed. The Fed has effectively lost control of the interbank system. The only thing the Fed can do is arbitrarily set interbank interest rates, as it has been doing, and hopefully, temper the pavlovian responsiveness of the markets and Wall Street by dazzling them with bullshit.

One of the primary reasons the Fed is reluctant to reduce its balance sheet by selling its comparatively meager assets is because, they know full well that the banks that buy those assets will turn right around and park them in their reserve accounts, effectively nullifying their efforts while highlighting what a farcical joke the entire Fed system is. And this is why the Fed has chosen to reduce its balance sheet in the manner it has.

And none of this has anything to do with the actual money supply,
which currently stands @ $1.53-Trillion in U.S. Legal Tender.


And? You like to call it tulip bulbs, but I don't think it means what you think it does. I'll ask you again, what can you do with tulips outside of planting or trading them. I can name you hundreds of things that you can do with blockchain.
Wow, you sure play stupid really well. Did you know the the 'options market' was invented during the tu;ip buld mania? Tulop bulbs were a medium of speculation back then just as bitcoin is today.

[skid]

I've got gold and silver, and now I have bitcoin too. Making more percentage wise on bitcoin than I ever did with G&S. Even if you don't agree with it why not throw in a grand or two and see where it goes? You got a problem with making money??

Crap I've been watching bitcoin for years with the same negative attitude against it. I should have thrown a G in when it was a dollar...

[Ares]

Please quote me where I stated that "international jewry was not being involved with the installation of the private federal reserve"

The jews don't own the legal tender dollar. -Carl

:rolleyes:


Wow, you sure play stupid really well. Did you know the the 'options market' was invented during the tu;ip buld mania? Tulop bulbs were a medium of speculation back then just as bitcoin is today.

You sure play stupid exceedingly well. You didn't even bother answering the question of what else you can use Tulip bulbs for outside of planting or trading them. Speculation is a form of trading so cut the smartass bullshit.

The underlying technology is called blockchain, and it does a lot more than just allow for units of account.

So you have a problem with competing currencies or is it because the competing currencies being implemented aren't gold and silver?

[Carl]

The jews don't own the legal tender dollar. -Carl

:rolleyes:
If you have evidence to the contrary, I'd be interested in seeing it.




You sure play stupid exceedingly well. You didn't even bother answering the question of what else you can use Tulip bulbs for outside of planting or trading them. Speculation is a form of trading so cut the smartass bullshit.

The underlying technology is called blockchain, and it does a lot more than just allow for units of account.

So you have a problem with competing currencies or is it because the competing currencies being implemented aren't gold and silver?

Why do you believe intellectual dishonesty is a legitimate argument?

The similarities between the tulip bulb and the bitcoin, is that they are/were both intrinsicly worthless speculative fads.

Although, you could get a pretty flower out of the tulip bulbs so that fad ended with something to show for it.

With bitcoin, you'll end up with what you started with, nothing.

[Ares]

If you have evidence to the contrary, I'd be interested in seeing it.





Why do you believe intellectual dishonesty is a legitimate argument?

The similarities between the tulip bulb and the bitcoin, is that they are/were both intrinsicly worthless speculative fads.

Although, you could get a pretty flower out of the tulip bulbs so that fad ended with something to show for it.

With bitcoin, you'll end up with what you started with, nothing.

That would follow in the line of planting the Tulip bulb. Again I can name you literally hundreds of different use cases for Blockchain technology. Can you name me hundreds of different uses cases for Tulip Bulbs? I'll wait....

I don't think you understand the difference between Blockchain and Bitcoin. At least you appear to not have the slightest understanding of the differences between the two.

[Carl]

That would follow in the line of planting the Tulip bulb. Again I can name you literally hundreds of different use cases for Blockchain technology. Can you name me hundreds of different uses cases for Tulip Bulbs? I'll wait....

I don't think you understand the difference between Blockchain and Bitcoin. At least you appear to not have the slightest understanding of the differences between the two.

And that's what I meant about your intellectual dishonesty, the subject matter is "bitcoin" not "blockchain", stop conflating.

[Ares]

And that's what I meant about your intellectual dishonesty, the subject matter is "bitcoin" not "blockchain", stop conflating.

No your intellectual dishonesty is to try and say that Bitcoin is like the Tulip bulb mania even though Tulip Bulbs had no other use case other than to trade or to plant. When people invest in Bitcoin, or any other crypto currency they are investing in the underlying technology which facilitates the TRUSTLESS transaction. Blockchain. Well others like speculators are only investing for financial gain. But you're going to have that no matter what. At least in the crypto currency space if it all goes to 0 there won't be any bailouts.

[crimethink]

Boys, neither of you is going to win the argument, but you both have valid and invalid points.

[Joshua01]

Look at you all peace and love and shit.....Fred, I'm starting to like you again (note: this is a compliment, not an attack!)
Boys, neither of you is going to win the argument, but you both have valid and invalid points.

[Horn]

Except that the Federal Reserves Ledger is completely private. Bitcoins Ledger is public knowledge and can see what's in circulation, what is not. You can view current number of transactions for every single block.

Show me where I can find where money is going on the Fed's ledger. I'll wait....

It wouldn't be valuable if it were public. Just like bitcoin.

[singular_me]

electronic toy... I love that term.


Bitcoin is an electronic toy.

[Ares]

electronic toy... I love that term.

I'm sure it's about as intelligent as the federal reserve chairmam referring to gold as a "barbarous relic".

[Horn]

Anyway, your tulips are very large looking, Ares.

Tell me the 100 ways that you could use them all over me...

[Horn]

Bitcoin Price Climbs to $12,400 in Zimbabwe

https://www.google.com/amp/s/www.cryptocoinsnews.com/bitcoin-price-climbs-12400-zimbabwe/amp/

[Ares]

Anyway, your tulips are very large looking, Ares.

Tell me the 100 ways that you could use them all over me...

Business Insider compiled a list of multiple use cases for blockchain technology. That is just scratching the surface of what it can do.

http://www.businessinsider.com/blockchain-technology-applications-use-cases-2017-9

[Spun Gold]

BTC Bitcoin is just crypto 1.0 There are new forms of crypto that are even better. Check out IOTA It could well do better than bitcoin in 10 years and is only $0.38 cents now. I'm going in on it.

I bought my first bitcoin at under 5 dollars and then sold them all at $800 dollars. What a mistake.. worst of my life.

I think anyone who has no crypto is a fool. Even $100 dollars worth could be big in the future.
Not even 1% of people worldwide own crypto, and as soon as that hits 3% it will skyrocket.

I am, however, not selling any silver or gold... thats like life insurance. Crypto is a chance to win the lottery big.

[Ares]

BTC Bitcoin is just crypto 1.0 There are new forms of crypto that are even better. Check out IOTA It could well do better than bitcoin in 10 years and is only $0.38 cents now. I'm going in on it.

I bought my first bitcoin at under 5 dollars and then sold them all at $800 dollars. What a mistake.. worst of my life.

I think anyone who has no crypto is a fool. Even $100 dollars worth could be big in the future.
Not even 1% of people worldwide own crypto, and as soon as that hits 3% it will skyrocket.

I am, however, not selling any silver or gold... thats like life insurance. Crypto is a chance to win the lottery big.

Exactly, I have a price point in mind that I will sell about half of my Bitcoin holdings. With that half I'll split it again 50% goes into gold/silver the other half pay off the mortgage.

I'll continue to hold Bitcoin and either watch it rise or sell it into a crypto that might replace it.

[madfranks]

Exactly, I have a price point in mind that I will sell about half of my Bitcoin holdings. With that half I'll split it again 50% goes into gold/silver the other half pay off the mortgage.

I'll continue to hold Bitcoin and either watch it rise or sell it into a crypto that might replace it.

Good for you Ares. Earlier this year before the big run up I ran into some unexpected and quite expensive financial emergencies for which I had to liquidate most of my crypto to pay for. I'm bummed I'm missing out on this giant run up now, but happy that my meager crypto investments a handful of years ago saved my family from what would have essentially been bankruptcy and potentially the loss of our home.

[Ares]

Good for you Ares. Earlier this year before the big run up I ran into some unexpected and quite expensive financial emergencies for which I had to liquidate most of my crypto to pay for. I'm bummed I'm missing out on this giant run up now, but happy that my meager crypto investments a handful of years ago saved my family from what would have essentially been bankruptcy and potentially the loss of our home.

It does come in handy, there have been a few close calls financially where I was close to selling some of my holdings to pay off something that came up unexpectedly. But I figured out another way thankfully.

[crimethink]

Amazon.com registers cryptocurrency domain names

https://domainnamewire.com/2017/11/01/amazon-coin-amazon-com-registers-cryptocurrency-domain-names/

http://mashable.com/2017/11/02/amazon-cryptocurrency-domain-names/

[Ares]

Amazon.com registers cryptocurrency domain names

https://domainnamewire.com/2017/11/01/amazon-coin-amazon-com-registers-cryptocurrency-domain-names/

http://mashable.com/2017/11/02/amazon-cryptocurrency-domain-names/

Probably why the run up in price north of 7,000. CME also announced Bitcoin futures so even more money pouring into the crypto space. I read an article earlier that BTC = $50,000 by 2020 is an extremely conservative estimate and are thinking it'll be higher by then.

[crimethink]

I read an article earlier that BTC = $50,000 by 2020 is an extremely conservative estimate and are thinking it'll be higher by then.

For your sake, I hope so. But we've been promised Gold and Silver "to the Moon" for how long?

The fact amazon is toying with this is definitely a sign for investors, though.

[Ares]

For your sake, I hope so. But we've been promised Gold and Silver "to the Moon" for how long?

The fact amazon is toying with this is definitely a sign for investors, though.

Yeah I'm hoping so as well. I was on board late with crypto. While considered an early adopter 2012/2013 was still late for early adopters. So my holdings are relatively small compared to the guys who mined thousands of them.

If Amazon jumps in and starts taking Bitcoin / Ethereum along with Wall Street setting up financial instruments for investors then all bets are off on where it could go.

It's proving a huge boom for economically depressed countries Venezuela / Zimbabwe etc.