Fueri
Platinum Member
- Nov 16, 2015
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Yeah so...........What is the difference between bitcoin clicking money into existance and The Federal Reserve.....same scam it seems to meI did ignore that post on the electricity, but only because I found it to be non-serious and intentionally so. In other words I thought the poster was just screwing around.
It is also wrong. It is a decentralized, global network with just under 10,000 nodes running. Nobody and nothing can just "turn off the electricity" unless they want to shut down the entire power grid of the planet and shut down the satellites that are now running nodes as well.
They can make it illegal and maybe they will try to do just that, which would be more on point to the actual discussion you seem to be forwarding.
Thing is, people have been saying this for quite a long time. Could it happen? Sure. Lots of things can happen, and people like Dimon at Chase are definitely going to give it a shot, which I have no doubt about, for the simple reason that it very definitely poses a threat to their absolute control of the system, so I don't actually disagree with you there. Those bastards will "lobby" their congresspeople to the best of their ability I have no doubt.
will they be successful. I don't know. what I do know is that they've been kicking it in the balls since Day 1 and the market is growing, uses are growing, adoption is growing, regulation is forming around it, but nothing to this point indicates a movement to make it illegal.
I'll hold my stuff for now, but I don't ignore the actions of the powers that be either, as I do obviously recognize the threat they pose with respect to these assets and their value.
Uh huh?
Barter your bit coin for food. The transaction requires that the guy who grew the crop has a bit coin account,
We have a binder full of morons.
Totally incorrect, of course. There are now debit cards that can be swiped like any other card, backed by bitcoin or other cryptos, with no difference on the front end whatsoever.
If that doesn't work for you they can be sold instantly to cash as easily as any other liquid asset, such as a stock or cd or whatever, wth that cash then transferred directly into your bank account as would be the case if you sold a stock or anything else.
Btc is up 700+% just this year. Ethereum is up more like 2-3000%.
Laugh at us "morons" all you like. We're laughing all the way to the bank. Lol.
One the primary differences when considering supply is that the supply of BTC is controlled and finite. Btc is issued at a set rate over time. Scarcity is also built into the code, with only a pre-established number (21 million) that will ever be issued.
I thought you were referring to a supply issue as exists when a fiat organization just cranks up supply. Maybe we simply weren't on the same page there....