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#114
11-26-2013, 03:24 AM
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I think bit coins approx. tripled in value since Naez posted this thread? I'm glad some things never change on P99 (like Naez being wrong about everything).
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<@patriot1776> i dont even rely on my facial hairs to get laid good luck to you
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#116
11-26-2013, 10:39 AM
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Quote:
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#117
11-26-2013, 01:49 PM
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I have come to the conclusion this is still a fiat currency, since it's only value comes in ways that have regards to itself. In addition to being fiat, it will serve no purpose in the coming apocalypse. Therefore it is only good for speculation. Also a lot can change in a month with a volatile "investment" (read: gambling chip), so my OP is not inherently wrong (I don't follow bitcoin news to know when it will spike and dip; it will crash again)
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#118
11-26-2013, 03:14 PM
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Quote:
And your OP is most certainly wrong. The title of the thread is "dump your bitcoins". As was pointed out earlier with a nice graph, you made the recommendation to sell at pretty much the exact low point. Anyone who followed your advice lost money. | |||
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#119
11-26-2013, 03:33 PM
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The fiat does not necessarily have to come from government, in this case it is the Bitcoin foundation decreeing it a currency. The fact that the price rose (and let's face it, not that much) shortly after I made this thread should be a red flag to anyone, as it is the sign of computer programs snaking the market and pump and dumping.
Anyone investing in Bitcoins besides very short term speculation has already lost money well before I made this thread. The United States is $20 trillion in debt. The largest debt in the entirety of human history, entrenched in never-ending wars, with an economic collapse virtually inevitable and in the near future. Once the dollar run happens and the power grid goes out, Bitcoins will have lost any and all "value". They already have very little value besides trading into another fiat currency like the USD (which will also have no intrinsic apocalyptic use after the collapse). You literally cannot do anything besides donate (read: lose) to people/companies or buy anything besides drugs with Bitcoins. This is its only use, which you may argue is a solid investment in the future, but I would argue only in trade for beans and bullets. | ||
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#120
11-26-2013, 03:39 PM
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As to my last point there, there is no way most merchants will begin accepting Bitcoins, at least any time in the near future. Bitcoins are so volatile their value never stabilizes at any price point, and they crash regularly. In order for a merchant to accept a Bitcoin, they would have to adjust prices virtually every 20 minutes and sell coins as soon as they get them. This is way too much effort, some of which cannot be necessarily accurately automated and audited by analysts of a larger company. Why waste effort when stable currencies already exist?
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