Has The Silver Ship Come In?

[valamhic]

It appears the total issuance can be limited and extra Bitcoin is achieved by subdividing in to fractions. The fact remains that one Bitcoin is now worth a lot of real money.

 

[valamhic]

Had to stop you there, Val: the laughs are a great start to the week.

Nice one - you should be on the stage.

Did you buy any?

 

[valamhic]

Some say there is nothing backing crypto currency, but there is nothing backing Dollars or Euros either.

 

[Lalo Salamanca]

Some say there is nothing backing crypto currency, but there is nothing backing Dollars or Euros either.

 

[Youngdan]

All cryptos are akin to tulips in Holland for 2 reasons.

1. Anyone can start their own currency.
2.They can be outlawed at any moment.

Alot of money will be not lost but transferred from one to another.

 

[Tadhg Gaelach]

I have been investigating and I am not fully competent with it, but here is some of it.

Blockchain is used by bitcoin. It is the same invention. Blockchain was invented as part of bitcoin although now blockchain does have other uses. All the other alternative coins like Litecoin have their own blockchains.

It can always be used an alternative but I don’t think it will replace credit cards because governments won’t allow it. It can’t be traced (or at least it’s very difficult to trace) so I think bigger companies will avoid it but it could become more popular among smaller businesses. It was first popular among criminals, especially people selling drugs online.

The transaction fees for Bitcoin are a bit high at the moment which is why it’s possible smaller coins like Litecoin and Ethereum will become more popular.

Blockchain is a useful technology, but Bitcoin is entirely delinquent and parasitic and should be banned outright.

 

[Tadhg Gaelach]

Some say there is nothing backing crypto currency, but there is nothing backing Dollars or Euros either.

The US dollar is backed up by the US military. The Euro is actually backed up by the US military too.

 

[Tadhg Gaelach]

Gold edges up from 6-week low as equities cool off

Gold on Monday bounced off a six-week trough as a rally in equities stalled, though gains were capped by a stronger dollar and higher U.S. Treasury yields. Spot gold was up 0.1% at $1,849.64 per ounce by 1039 GMT, after touching its lowest since Dec. 2 at $1,816.53. "Some investors are taking...

finance.yahoo.com

 

[valamhic]

Blockchain is a useful technology, but Bitcoin is entirely delinquent and parasitic and should be banned outright.

Its one of the best performing investments ever. It cant be banned, its not possible

 

[valamhic]

Gold edges up from 6-week low as equities cool off

Gold on Monday bounced off a six-week trough as a rally in equities stalled, though gains were capped by a stronger dollar and higher U.S. Treasury yields. Spot gold was up 0.1% at $1,849.64 per ounce by 1039 GMT, after touching its lowest since Dec. 2 at $1,816.53. "Some investors are taking...

finance.yahoo.com

Gold or silver never changes in price. That is a myth. Its the fiat currency that changes. It always goes down . An ounce of gold mislaid in 1967 when it would buy 34 Dollars and found to day will buy 1500 Dollars. 43 times as much

 

[valamhic]

The US dollar is backed up by the US military. The Euro is actually backed up by the US military too.

They just get their pay each week and retire with a pension in Dollars. They do not get gold

 

[Tadhg Gaelach]

Its one of the best performing investments ever. It cant be banned, its not possible

It could easily be banned. The amount of electricity is uses alone is cause to ban it.

 

[valamhic]

Blockchain is a useful technology, but Bitcoin is entirely delinquent and parasitic and should be banned outright.

Blockchain will be an essential technology shortly. All fraud is eliminated. No government of tax people involved. If you make 100K you do not pay tax in Ireland, but if you cash it in you do,

 

[Tadhg Gaelach]

They just get their pay each week and retire with a pension in Dollars. They do not get gold

Sure, but the US dollar would have collapsed years ago - if the US military didn't murder anyone who wants to sell their oil in anything but the dollar.

 

[valamhic]

It could easily be banned. The amount of electricity is uses alone is cause to ban it.

How can government stop the use of electricity. Just buy a few carbon credits and say your green.
You can also buy a diesel generator and make your own electricity.

 

[Tadhg Gaelach]

Blockchain will be an essential technology shortly. All fraud is eliminated. No government of tax people involved. If you make 100K you do not pay tax in Ireland, but if you cash it in you do,

Well, its fraud is certainly more difficult. But blockchain is not useful in all situations.

Blockchain is not a reliable silver bullet for fraud prevention

Blockchain fast became the tech tool of choice in fighting fraud - but is it really the answer? And could it even be used to commit fraud?

www.raconteur.net

 

[Tadhg Gaelach]

How can government stop the use of electricity. Just buy a few carbon credits and say your green.
You can also buy a diesel generator and make your own electricity.

Bitcoin uses more electricity than several small countries put together.

 

[valamhic]

Sure, but the US dollar would have collapsed years ago - if the US military didn't murder anyone who wants to sell their oil in anything but the dollar.

Agreed that is why they took out Gadhafi. That does not alter the fact that they are printing at a scale never before seen. Governments are scared stiff of people switching to gold, silver or crypto. See shat they did here. The effect was to reduce the price pf gold so no one would want to buy it. They fear a return to gold and silver by the common people. Their fiat money will be no good then

Two decades ago, Gordon Brown sold half of Britain’s gold reserves – was it a bad deal for our economy? | The Independent

 

[Tadhg Gaelach]

Agreed that is why they took out Gadhafi. That does not alter the fact that they are printing at a scale never before seen. Governments are scared stiff of people switching to gold, silver or crypto. See shat they did here.

Two decades ago, Gordon Brown sold half of Britain’s gold reserves – was it a bad deal for our economy? | The Independent

You also have to bear in mind that a currency that can fluctuate by 10,000 USD in one day has no use in the real world. Imagine trying to make a contract in Bitcoin.

 

[Tadhg Gaelach]

Bitcoin is the bastard offspring of the 2008 Crash. It's an attempt to take government out of currency transactions. But, it has totally failed to do this. All it is is a means of gambling and contraband.