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Thread: The Bitcoin Tracking Thread

  1. #1051
    Great Value Carrots Dachsie's Avatar
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    Re: The Bitcoin Tracking Thread

    Here is quote from January 2018 interview by E. Michael Jones...

    https://www.youtube.com/watch?v=t_Z3_WyPIe4 interview was in January of 2018
    21:31 to 24:29


    “Cryptocurrency is a contradiction in terms.

    Currency means this can be used for all debts, public and private.

    Okay, this piece of paper, whatever it is, this can be used, while

    Cryptocurrency, if its not public, in other words, if its not a coin in some sense, which means a coin is a piece of metal which has the emperor or the kind or the sovereign stamped on it, the image of the sovereign, which means that the state backs up this currency.

    Well, obviously crypto currencies are not backed by the state so therefore they are not currencies.

    So, what is it? What is BitCoin?

    BitCoin is, well, its like a tulip bulb, actually.

    Its like gold.

    It’s obvious it’s something that has value because people buy it. And the more people that buy it, the more its value increases.

    And if people really get behind it, what you’re seeing is what I think we saw, at least in the last couple of weeks, a bubble.

    I think we had the BitCoin bubble. And now, what you see now, you saw in it a few weeks ago. There was an article about the Winklevost twins becoming BitCoin billionaires.

    This is known as the “suckers market”.

    When you see article like this, usually they’re on the cover of NewsWeek, like these ten people became millionaires by selling real estate. What they’re really saying is ‘the big players want to get out of the real estate market, and at this point, the big players want to get out of the BitCoin market but they can’t get out unless somebody buys their BitCoin. So here’s a way for you to buy their BitCoin so they’re not going to have to dump a billion dollars’ worth of merchandise on the market and crash the price.

    So I think BitCoin is – it’s like gold.

    It’s not a currency.

    It is not money.

    It cannot be used as money but it can be a store of value as long as people keep bidding up the price.

    As soon as that stops, you’re left with nothing.

    You’re left with a tulip bulb.

    That was the first bubble – the Tulip Mania – in Holland. "

  2. #1052
    Moderator madfranks's Avatar
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    Re: The Bitcoin Tracking Thread

    People are still comparing bitcoin to tulip bulbs? That point has been discussed and debunked like thousands of times already.
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

  3. #1053
    Great Value Carrots Dachsie's Avatar
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    Re: The Bitcoin Tracking Thread

    So point me to a debunking of that on this forum, please. Seems like a valid point to me.

    It works just like other volatile equities markets and one can lose whatever money invested.

  4. #1054
    Dangerous Donald Neuro's Avatar
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    Re: The Bitcoin Tracking Thread

    You can eat tulip bulbs, but you cant divide them in Satoshis and keep their value...
    Cultural Marxism: -The idea that good, hard working, white people should pay for those who are not, and thus in the name of equality create the conditions for their own genetic annihilation

  5. #1055
    Unobtanium PatColo's Avatar
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    Re: The Bitcoin Tracking Thread

    Noticed yest BTC had dumped < $7K over the weekend.

    Then today (Tue) a stab down to $6530, breaking former support there in Feb & again in Apr.

    I don't follow BTC news; & never pulled the trigger on buying. What are the junkees attributing this drop to?! https://www.coindesk.com/price/
    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

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  6. #1056
    Great Value Carrots StreetsOfGold's Avatar
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    Re: The Bitcoin Tracking Thread

    Quote Originally Posted by PatColo View Post
    What are the junkees attributing this drop to?!
    The consensus is price manipulation, (like all markets) since cryptos are NOT going away.
    Bring it WAY down and then buy it up
    Murder was the Catholic answer - Pope Francis

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    PatColo (13th June 2018)

  8. #1057
    Unobtanium PatColo's Avatar
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    Re: The Bitcoin Tracking Thread

    ^ AFAIK there's not really a physical futures market for BTC, where big leverage can be used, & buy/sell limit orders, shorting etc; so this is just straight waves of fully funded buying/selling?

    I've heard of these "Crypto mining" blackbox computers; know almost nothing about them.

    Quote Originally Posted by PatColo View Post
    Noticed yest BTC had dumped < $7K over the weekend.

    Then today (Tue) a stab down to $6530, breaking former support there in Feb & again in Apr.

    I don't follow BTC news; & never pulled the trigger on buying. What are the junkees attributing this drop to?! https://www.coindesk.com/price/
    made another stab downward overnight; bounced off $6384 low, still searching for a new bottom.
    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

    "If telling the truth marginalizes you, then that is the place to be. After all, if enough people are willing to be marginalized, then before you know it, society has developed a different center. This is the politics of truth." -- E. Martin Schotz

  9. #1058
    Unobtanium PatColo's Avatar
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    Re: The Bitcoin Tracking Thread

    BTC $7,758 atm; pulled out of its sub-7K funk, with sub-6K dips, of the past ~6 weeks. https://www.coindesk.com/price

    ETH $456
    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

    "If telling the truth marginalizes you, then that is the place to be. After all, if enough people are willing to be marginalized, then before you know it, society has developed a different center. This is the politics of truth." -- E. Martin Schotz

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    Spun Gold (23rd July 2018)

  11. #1059
    Great Value Carrots StreetsOfGold's Avatar
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    Re: The Bitcoin Tracking Thread

    The "derivative" for Bitcoin (AKA an ETF) is coming and will most likely be approved this year
    Murder was the Catholic answer - Pope Francis

  12. #1060
    Dangerous Donald Neuro's Avatar
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    Re: The Bitcoin Tracking Thread

    Quote Originally Posted by StreetsOfGold View Post
    The "derivative" for Bitcoin (AKA an ETF) is coming and will most likely be approved this year
    There are several already including ETF’s...
    Cultural Marxism: -The idea that good, hard working, white people should pay for those who are not, and thus in the name of equality create the conditions for their own genetic annihilation

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