Bitcoins - digital currency - Page 1321 - Business, Finances and Investing Forum

Well Rep. Maxine Waters has been very vocal about Facebook pumping the breaks on this until congress has time to regulate it, saying Congress "can't let them compete with the dollar" but I don't she has any power she's just the...

*checks notes*

...chairman of the U.S. House Financial Services Committee. Well that's probably not great.

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06-21-2019 , 10:16 AM

#33002

Didace

Carpal \'Tunnel

Join Date: Nov 2009 Posts: 19,988

Quote:

Originally Posted by onemoretimes

What don't you understand that people don't want to hold a fiat currency that is printed at will? IT'S STILL BACKED BY THE ****ING USD WHICH THEY ****ING DON'T EVEN PRINT ANYMORE, THEY JUST ADD DIGITS TO A COMPUTER BECAUSE IT WOULD COST TOO MUCH TO PRINT HOWEVER THE **** MUCH THEY ARE CREATING. NOW IF YOU THINK THAT IS A BETTER SOLUTION TO HOLD YOUR SAVINGS IN, THEN GO AHEAD!

This is gold.

Last edited by Didace; 06-21-2019 at 10:16 AM. Reason: Get it?

Quote

06-21-2019 , 10:25 AM

#33003

CoolTimer

adept

Join Date: Feb 2013 Posts: 1,029

It's technically incorrect, but the gist of it stands. They can inflate the money supply at will. If they print it outright or QE the f out of it, doesn't really matter. Your savings get inflated.

But muh dollar has intrinsic value? Yeah, no.

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06-21-2019 , 10:32 AM

#33004

CoolTimer

adept

Join Date: Feb 2013 Posts: 1,029

This is also what's so good about Libra imo. It shows people that creating and managing money does not have to be job of the government.
Evem companies can do it too, and probably manage it better than the government can. But the government won't allow companies to do it, and will shut them down. And now we're full circle again, except Bitcoin will still be there, because they can't shut it down. Which it was exactly designed to resist. It's just too beautiful.

Every single day it doesn't die it gets stronger. Bitcoin is a sewer rat, the rest are Bubble Boys : https://www.youtube.com/watch?v=810aKcfM__Q

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06-21-2019 , 01:21 PM

#33005

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,922

When the US broke from the Gold Standard, it was presented as a “temporary” measure — we never went back.

When QE was used in 2008, it was presented as an “emergency” measure — now it is standard.

What will it take for us to stop believing the humans manipulating the economy?

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06-21-2019 , 01:22 PM

#33006

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,922

Quote:

Originally Posted by CoolTimer

Bitcoin is a sewer rat

awesome sewer rats have persisted for a very long time.

Quote

06-21-2019 , 03:57 PM

#33007

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 47,253

Quote:

Originally Posted by CoolTimer

You mean like Wilcat Banks and company script? Full circle indeed. I cant believe their are people who dont see how repeating the same mistakes we made 150 years ago don't count as progress.

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06-21-2019 , 04:54 PM

#33008

apology7

adept

Join Date: Jan 2007 Posts: 727

Quote:

Originally Posted by CoolTimer

I just sold my BTC so I can buy Libra asap. It sounds like it's the future.

Libra will be a stable coin. The price will be pegged at $1. The only people who will get rich off of it are the creators and the partners, not speculators

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06-21-2019 , 06:00 PM

#33009

rafiki

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 40,503

Libra buzz is pretty strong. When does it actual launch?

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06-21-2019 , 06:05 PM

#33010

piepounder

old hand

Join Date: Sep 2012 Posts: 1,557

im piled up on 80% bitcoin and 20% binance. I think bitcoin is probably toast at some point but it will run hot for the next 8-12 months.

Libra is very disruptive, I have little doubt they can pull it off and little doubt it will grab. its going to grab and about 2 years from now it will be obv bitcoin is a niche product.

im a heavy investor....just thats what i expect and thats my plan....not selling for the next 6 months but we'll see

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06-21-2019 , 06:25 PM

#33011

apology7

adept

Join Date: Jan 2007 Posts: 727

Quote:

Originally Posted by piepounder

So usd in coin form is going to overtake bitcoin? One is digital cash (manipulated, censorable), the other is digital gold (censorproof, decentralized). Both can exist in the same space, as they share almost none of the same attributes. IMO there is a decent chance Libra runs into some legal problems, it may never even get off the ground it's an ambitious project

Quote

06-21-2019 , 07:05 PM

#33012

piepounder

old hand

Join Date: Sep 2012 Posts: 1,557

Quote:

Originally Posted by apology7

stablecoins and transitional coins (ie binance) have value. wil they overtake? yah I guess if bitcoin is irrelevant then anything overtakes irrelevance. so sure,,,,do I have to pick one?

noone reaally cares beside feverish anarchists if its decentralized to the nth degree...the users just want something that isnt an oligopoly, and is more universal...which blockchains enable ad facebook and friends can easily deliver.

libra is a slam dunk. theres no way to make money off it besides buying fb, visa, paypal. two of those three are great buys anyway

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06-21-2019 , 08:11 PM

#33013

Spring Mustachio

centurion

Join Date: Apr 2018 Posts: 172

Back in the 10k club boys. Congrats to all holders!

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06-21-2019 , 08:16 PM

#33014

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,922

Pump my bags

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06-21-2019 , 08:16 PM

#33015

piepounder

old hand

Join Date: Sep 2012 Posts: 1,557

Quote:

Originally Posted by Spring Mustachio

Back in the 10k club boys. Congrats to all holders!

dayaaammm. im a happy pessimist. im probably getting out in 12 months tho. dont see much bad news in the next 6 and I see doom when libra enters

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06-21-2019 , 08:19 PM

#33016

piepounder

old hand

Join Date: Sep 2012 Posts: 1,557

ride this **** for 12 months it wont last

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06-21-2019 , 08:20 PM

#33017

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,508

10K boys, lets go.

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06-21-2019 , 09:57 PM

#33018

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,508

Straight to 13K?

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06-21-2019 , 09:57 PM

#33019

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,922

Quote:

Originally Posted by piepounder

ride this **** for 12 months it wont last

cya

Quote

06-21-2019 , 09:59 PM

#33020

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,922

Quote:

Originally Posted by Go Get It

Straight to 13K?

Quote

06-21-2019 , 10:32 PM

#33021

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,922

Quote

06-21-2019 , 11:09 PM

#33022

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,535

Quote:

Originally Posted by piepounder

ride this **** for 12 months it wont last

2nd post in thread

"They are trading at a ridiculous 70 cents USD which is hilarious for a currency that no one uses."

I just spent the week in the rocky mountains eating mushrooms (ALOT) and camping under the stars. I've come back a better person.

Psychedelics give you a good look at the big picture.

The picture you need to look at is how fiat has lasted this long?

I'm not going to lie, crypto has some weird things I don't agree with, but for ****s sake, fiat is insanity beyond insanity beyond insanity beyond insanity.