Bitcoin was the best-performing currency of 2016

[Redfish]

This speaks volumes. People have rightfully lost all faith in government due to the endless corruption. They manipulate currency. They endlessly print more of it. They take as much of it from the people as they want.

Times....they are a change'n. We are seeing a resurgence of the independent patriot who will not be a slave to a monarchy. Even finding new ways to operate in the modern world without government printed currency. I wonder if this will eventually become the exclusive currency of the future?

Bitcoin Was the Best-Performing Currency of 2016

Ignoramus go try to buy ANYTHING on bitcoin (not dollar) basis. It's a failure as a currency in it's own right as there is no way to price anything when it's value jumps up and down by 20% on any given day.

Some people would agree with you. Some wouldn’t. At the end of the day, there is no disputing that it was the single best performing currency of 2016 (and it is likely that it will be again in 2017).

The sad part is, you’re not denouncing Bitcoin based on sound economic analysis. Rather, you are denouncing it because as a devout socialist/marxist, you’re enraged that the government doesn’t control it and can’t manipulate it.

You still don’t get it - it was a best performing INVESTMENT ASSET, not best performing currency

As a currency, meaning a medium of exchange, nothing beats US dollars.

never thought I would agree with you on anything, but we do agree on this.
Bitcoin is the dot com of 2017.

 

[AntonToo]

This speaks volumes. People have rightfully lost all faith in government due to the endless corruption. They manipulate currency. They endlessly print more of it. They take as much of it from the people as they want.

Times....they are a change'n. We are seeing a resurgence of the independent patriot who will not be a slave to a monarchy. Even finding new ways to operate in the modern world without government printed currency. I wonder if this will eventually become the exclusive currency of the future?

Bitcoin Was the Best-Performing Currency of 2016

Ignoramus go try to buy ANYTHING on bitcoin (not dollar) basis. It's a failure as a currency in it's own right as there is no way to price anything when it's value jumps up and down by 20% on any given day.

Some people would agree with you. Some wouldn’t. At the end of the day, there is no disputing that it was the single best performing currency of 2016 (and it is likely that it will be again in 2017).

The sad part is, you’re not denouncing Bitcoin based on sound economic analysis. Rather, you are denouncing it because as a devout socialist/marxist, you’re enraged that the government doesn’t control it and can’t manipulate it.

You still don’t get it - it was a best performing INVESTMENT ASSET, not best performing currency

As a currency, meaning a medium of exchange, nothing beats US dollars.

never thought I would agree with you on anything, but we do agree on this.
Bitcoin is the dot com of 2017.

If you follow the facts wherever they lead, you'll often agree with me.

 

[Redfish]

This speaks volumes. People have rightfully lost all faith in government due to the endless corruption. They manipulate currency. They endlessly print more of it. They take as much of it from the people as they want.

Times....they are a change'n. We are seeing a resurgence of the independent patriot who will not be a slave to a monarchy. Even finding new ways to operate in the modern world without government printed currency. I wonder if this will eventually become the exclusive currency of the future?

Bitcoin Was the Best-Performing Currency of 2016

Ignoramus go try to buy ANYTHING on bitcoin (not dollar) basis. It's a failure as a currency in it's own right as there is no way to price anything when it's value jumps up and down by 20% on any given day.

Some people would agree with you. Some wouldn’t. At the end of the day, there is no disputing that it was the single best performing currency of 2016 (and it is likely that it will be again in 2017).

The sad part is, you’re not denouncing Bitcoin based on sound economic analysis. Rather, you are denouncing it because as a devout socialist/marxist, you’re enraged that the government doesn’t control it and can’t manipulate it.

You still don’t get it - it was a best performing INVESTMENT ASSET, not best performing currency

As a currency, meaning a medium of exchange, nothing beats US dollars.

never thought I would agree with you on anything, but we do agree on this.
Bitcoin is the dot com of 2017.

If you follow the facts wherever they lead, you'll often agree with me.

LOL, I really doubt that you always deal with facts. Seems that most of your posts are based on left wing talking points, but thanks for being honest about bitcoin.

 

[P@triot]

You still don’t get it - it was a best performing INVESTMENT ASSET, not best performing currency

As a currency, meaning a medium of exchange, nothing beats US dollars.

You never did get it - and still don’t. It wasn’t even close to being (and I quote) “the best performing INVESTMENT ASSET”.

Please read it again (preferably with someone literate this time) and focus your attention on the one word that is bolder.

Bitcoin Was the Best-Performing Currency of 2016

Please stop being an immature asshat who just makes shit up to support your ideology. Facts are facts. It was the best performing currency in 2016 (meaning it didn’t see inflation, devaluation, etc. as much as other currencies) and it is likely to be the best performing currency once again in 2017. If you can’t deal with the facts, then don’t bother commenting in the thread. Grow up.

 

[P@triot]

if you want to put your money in a fake currency, go right ahead. I will keep mine in dollars, pounds, and euros.

One of the beauties of Bitcoin is that you don’t have to “put your money in it”. Hell, you don’t even have to work for it like you do the dollar. You can simply mine for it.

You’re viewing it as an investment. I’m talking about it strictly as a currency.

 

[P@triot]

Pop tarts do have the likely advantage of having a fairly consistent value, where as bitcoin......well let’s just say the value changes significantly on a daily if not hourly basis.

But that’s simply not true. Like the rest of the mindless here on this board, you’re not following this conversation at all. As an investment - yes - Bitcoin is extremely volatile.

However, that is not what is being discussed here. This entire thread is about Bitcoin as a currency. And as a currency, it has been consistent (hence the reason it has been the best performing currency). It has not seen inflation, devaluation, or any other level of volatility that other currencies have seen. And that’s because it cannot be manipulated by governments like traditional currencies.

 

[P@triot]

Whether you like the currency or not is not the issue. It’s still a currency. By every metric available it is a currency. That is the bottom line.

Now...of you want to discuss whether or not it is a good currency, we can do that. In fact, I think that would be a very good discussion to have.

Ok, fine. My position is that bitcoin is as good and viable as a currency as pop tarts. I suppose somewhere in the world, like prison, you can buy something with a pop tart. Pop tarts do have the likely advantage of having a fairly consistent value, where as bitcoin......well let’s just say the value changes significantly on a daily if not hourly basis.

Pros:

• It cannot be manipulated like traditional currencies making it very stable

• It is extremely “portable”

• It is universal - requiring no exchange rates

Cons:

• It is not “tangible”

• It is not backed by any government making adoption “risky” early on

 

[BuckToothMoron]

Dude you are seriously reaching now. To say bitcoin is not volatile is simply putting your head in the sand. It is not uncommon for its value against real currencies to fluctuate 5% in a single day. Come on man, just quit.

 

[BuckToothMoron]

Whether you like the currency or not is not the issue. It’s still a currency. By every metric available it is a currency. That is the bottom line.

Now...of you want to discuss whether or not it is a good currency, we can do that. In fact, I think that would be a very good discussion to have.

Ok, fine. My position is that bitcoin is as good and viable as a currency as pop tarts. I suppose somewhere in the world, like prison, you can buy something with a pop tart. Pop tarts do have the likely advantage of having a fairly consistent value, where as bitcoin......well let’s just say the value changes significantly on a daily if not hourly basis.

Pros:

• It cannot be manipulated like traditional currencies making it very stable

• It is extremely “portable”

• It is universal - requiring no exchange rates

Cons:

• It is not “tangible”

• It is not backed by any government making adoption “risky” early on

- it is very unstable and it’s value fluctuates more than any real currency. It’s value right now is controlled by a few whales who own 100 of thousands of bitcoins. If they decided to sell quickly, the value would
plummet.

-Portable? So is air, but that doesn’t mean you can buy anything with it.
It's still really hard to use bitcoin as a regular currency

-Universal, really?
6 Countries Where Bitcoin Is Banned

-No exchange rate? What’s with all the fees?

211

The cost to complete a Bitcoin transaction has skyrocketed in recent days. A week ago, it cost around $6 on average to get a transaction accepted by the Bitcoin network. The average fee soared to $26 on Friday and was still almost $20 on Sunday.
It's still really hard to use bitcoin as a regular currency

• It was very difficult to make typical daily transactions necessary to survive using only bitcoin in New York City for a week.
• Not many retailers and restaurants accept bitcoin directly still.
• If they do, additional fees make it more expensive than using dollars.

 

[Redfish]

if you want to put your money in a fake currency, go right ahead. I will keep mine in dollars, pounds, and euros.

One of the beauties of Bitcoin is that you don’t have to “put your money in it”. Hell, you don’t even have to work for it like you do the dollar. You can simply mine for it.

You’re viewing it as an investment. I’m talking about it strictly as a currency.

If you don't have any, you have to "buy" it using real currency issued by some country or countries. So, you are investing when you convert your dollars, pounds, or euros into bitcoins.

But as I said, if you like it, do it. I could not care less.

 

[P@triot]

If you don't have any, you have to "buy" it using real currency issued by some country or countries.

No you don't. You can "mine" for it online. Or you can earn it through traditional methods such as providing a product or service in exchange for it.

 

[Redfish]

If you don't have any, you have to "buy" it using real currency issued by some country or countries.

No you don't. You can "mine" for it online. Or you can earn it through traditional methods such as providing a product or service in exchange for it.

however you get it, you are exchanging something of value based on dollars for it. YOU ARE BUYING IT.

 

[P@triot]

If you don't have any, you have to "buy" it using real currency issued by some country or countries.

No you don't. You can "mine" for it online. Or you can earn it through traditional methods such as providing a product or service in exchange for it.

however you get it, you are exchanging something of value based on dollars for it. YOU ARE BUYING IT.

Uh...mining is not "buying".

And if I mow your lawn for you and you pay me in Bitcoin, I did not "buy" the Bitcoins...

 

[Redfish]

If you don't have any, you have to "buy" it using real currency issued by some country or countries.

No you don't. You can "mine" for it online. Or you can earn it through traditional methods such as providing a product or service in exchange for it.

however you get it, you are exchanging something of value based on dollars for it. YOU ARE BUYING IT.

Uh...mining is not "buying".

And if I mow your lawn for you and you pay me in Bitcoin, I did not "buy" the Bitcoins...

you traded your labor for them. you bought them with your sweat.

explain what exactly you mean by "mining" them.

 

[g5000]

If you don't have any, you have to "buy" it using real currency issued by some country or countries.

No you don't. You can "mine" for it online. Or you can earn it through traditional methods such as providing a product or service in exchange for it.

however you get it, you are exchanging something of value based on dollars for it. YOU ARE BUYING IT.

Uh...mining is not "buying".

And if I mow your lawn for you and you pay me in Bitcoin, I did not "buy" the Bitcoins...

you traded your labor for them. you bought them with your sweat.

explain what exactly you mean by "mining" them.

You can run a software program which mines bitcoins. There are a maximum number of bitcoins which can be mined, and so as time goes by, it takes more and more computing power to mine one bitcoin. Today, it takes many, many computers linked together to mine them. Massive computing power.

You can bet every bitcoin on the planet that Patriot did not acquire any bitcoins this way. He bought them, if he even has any.

If Patriot does have any cryptocurrency, it is a tiny, tiny fraction of a bitcoin, which he bought or traded for goods or services. And that cryptocurrency's value is dependent on fiat money.

 

[g5000]

The current bitcoin bubble involves people buying and selling bitcoins to each other. The traders are not acquiring bitcoins by providing goods and services. They are trading them like Dutch tulips or beanie babies. Driving up the price based on no real world value whatsoever.

The bubble is driven by mania, not by actual value.

 

[g5000]

As more bitcoins are mined, the value of a bitcoin should decline or stabilize. The more of a commodity that exists (gold, silver, diamonds, bitcoin), the less that commodity is worth.

The price of an ever more available commodity can only be driven higher by mania, or by someone who corners the market of that commodity.

Diamonds are actually so numerous, they are a semi-precious stone. However, their availability are tightly controlled by a cartel, and by the fact that once a woman owns a diamond, she never lets go of it, thus removing that commodity from the market.

 

[g5000]

We are now in a massive bitcoin bubble in which the holders of bitcoins are in a perpetuating cycle of looking for the greater fool.


Eventually, you run out of greater fools, and the bubble implodes catastrophically as the herd rushes for the exits.

 

[g5000]

It is universal - requiring no exchange rates

It's not universal. In fact, you would be very hard pressed to find a shop or person in America who would accept bitcoins as payment for goods and services, much less around the world.

You are seriously deluded, friend.

 

[P@triot]

explain what exactly you mean by "mining" them.

Your pc runs software on your computer to do mathematical computations of some sort that result in Bitcoins. It's like the digital equivalency of going into a mine to look for gold. That's actually how Bitcoin got started.

And as far as earning them - that wasn't achieved through the currency of a nation. So you still didn't buy them. You earned them (like you earned your salary), but you didn't purchase them.