joe macclennan
Well-Known Member
yup fin. I have to give you credit for the whole bitcoin thing.
YOU WERE RIGHT about that
YOU WERE RIGHT about that
I was actually planning on doing something soon. I am making videos that will help define super ancient history, pharmacology, and soon Altcoins.Damn Fin. Alt coin Bitcoin, Devcoin. Are they each trademarked? I'm serious, you need to do a very elementary vid explaining these things. This shit is alternative money that no one really understands, and now its trademarked? WTF dude, spend some of your alt coin dinero you brag about and make an unstoned coherent vid on this shit. Quit being so ADHD, buckle down
Coming soon.This is a good idea... fin you seem to be our resident expert on the subject... what we need from you is the most basic explanation you can come up with, explain it to a 10 yr old
how do I get one? Just go online with real money and buy one? Then what? The shit fluctuates so much.
I heard jp Morgan (I think) was trying to get into the bitcoin market. How will this affect bitcoin as a whole?
SH420
A big Ponzi scheme if you ask me. So don't ask me. It's still a big Ponzi scheme.I was actually planning on doing something soon. I am making videos that will help define super ancient history, pharmacology, and soon Altcoins. There are like 2 new altcoins made every day, so it is very fertile ground. I could make a video about 1 coin EVERY day and not be done in a year.
I understand your position, but I think I can help you understand. Yes, it is similar in structure to a Ponzi sheme. But it's a scheme where when it works, the people on top don't cash out. Because when it works, the old money loses value. So it's a Ponzi scheme as much as any new government, or new minted currency.A big Ponzi scheme if you ask me. So don't ask me. It's still a big Ponzi scheme.
Except new governments and currencies tend to outlast a lifetime whereas Ponzi stuff tends to fold in a coupe of years.I understand your position, but I think I can help you understand. Yes, it is similar in structure to a Ponzi sheme. But it's a scheme where when it works, the people on top don't cash out. Because when it works, the old money loses value. So it's a Ponzi scheme as much as any new government, or new minted currency.
That is my point. Bitcoin is a currency on par with the internet, while fiat is slowly becoming obsolete. The fiat created in the states in the 70s-80s actually may not survive an entire human life span, while Bitcoin has the potential to exist throughout time, as long as people continue to consider instant forms of communication important.Except new governments and currencies tend to outlast a lifetime whereas Ponzi stuff tends to fold in a coupe of years.
A Ponzi scheme by definition is the Federal Reserve. As soon as it loans a dollar at interest to our Government it has created more debt than which to pay that debtA big Ponzi scheme if you ask me. So don't ask me. It's still a big Ponzi scheme.