BitCoin: "The Most Dangerous Project We've Ever Seen"

Discussion in 'The Red Room' started by Scott Hamilton Robert E Ron Paul Lee, May 16, 2011.

  1. Tuckerfan

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  2. Tuckerfan

    Tuckerfan BMF

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  3. Tuckerfan

    Tuckerfan BMF

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  4. Tuckerfan

    Tuckerfan BMF

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  5. Tuckerfan

    Tuckerfan BMF

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  6. Tuckerfan

    Tuckerfan BMF

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    This seems fine.

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  7. Tuckerfan

    Tuckerfan BMF

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  8. Tuckerfan

    Tuckerfan BMF

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  9. Tuckerfan

    Tuckerfan BMF

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  10. Tuckerfan

    Tuckerfan BMF

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  11. Tuckerfan

    Tuckerfan BMF

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  12. Tuckerfan

    Tuckerfan BMF

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  13. Tuckerfan

    Tuckerfan BMF

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  14. Tuckerfan

    Tuckerfan BMF

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  15. Tuckerfan

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  16. Tuckerfan

    Tuckerfan BMF

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  17. Tuckerfan

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  18. Tuckerfan

    Tuckerfan BMF

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  19. Tuckerfan

    Tuckerfan BMF

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  20. Tuckerfan

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  21. Crosis36

    Crosis36 Author

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    My wife yesterday was trying (once again) to figure out how crypto even works, like how it has any value, ah once again came up empty.
    Essentially, it's a way for the rich to create a currency that is the resource, and keep it out of the hands of the 99%. Forget gold, with crypto us 99 percenters won't even have access to currency.
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  22. Tuckerfan

    Tuckerfan BMF

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  23. Tuckerfan

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  24. Tuckerfan

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  25. Tuckerfan

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  26. Tuckerfan

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  27. Damar

    Damar Liberal Elitist

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    Unlike most commodities, a large portion of the crypto investment community openly acknowledges it’s just a speculative investment. Someone I know who used to promote the blockchain and the potential security features has now concluded it’s just spec.
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  28. Bailey

    Bailey It's always Christmas Eve Administrator

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    I'm on record in this thread of having been a major skeptic of Bitcoin. Still thing it will collapse at some point.

    However any claims that is happening now are likely premature. The recent dip is similar to what has been seen multiple times in the past before the lunatics reinvade the asylum and boost it up even higher.
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  29. Tuckerfan

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  30. Ancalagon

    Ancalagon Scalawag Administrator Formerly Important

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    The thing about Bitcoin and crypto is that they are a commodity and not an asset or a form of exchange.

    There is no intrinsic value in any of them.

    It’s only worth derives from other people thinking they have worth.

    You can say that this is exactly like fiat currency but I don’t have to spend $.30 in ‘gas’ on every dollar transaction to buy a fucking thing and as someone who has been to a couple places no one has has ever denied my dollar ever even it all just comes down to haggling over the exchange rate and bitcoin just… isn’t.
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