The US gubment is one of the largest holders of bitcoinThat's why you buy it when it was at the bottom. While you guys were busy laughing at the "Crash" I was buying as much as possible.
Psst. the gubment can't do anything about it.
Is crypto currency...
- Thread starter Krull
- Start date
CrazyNutz
Well-known member
Yeah, so? You think they will crash it? Will not make a shit, it will spring back up. It will just be on sell, and everyone will buy more.
CrazyNutz
Well-known member
Well they are one of the biggest holders...
Great. I could care less
My portfolio keeps getting fatter, and will for this whole year.I guess come back when there's a short pull back so you can gloat for a few minutes before the next all time high
The last crash was awesome. Enjoy the get rich quick scheme while you canGreat. I could care less
I guess come back when there's a short pull back so you can gloat for a few minutes before the next all time high
JackBootedThug
MURDERATOR
Bro…what does that mean? Mining?
CrazyNutz
Well-known member
CrazyNutz
Well-known member
Cypto (not all) is mined using hardware that generates hashes at a mega fast rate. When your hardware gets the number right it unlocks the next block, and you get the rewards.
Mining is also a way for the crypto network to be secured, so it's not just lottery.
CrazyNutz
Well-known member
Look at the chart I posted, that's all you need to know about BTC, and what/when it will do it. It's predictable. Just not everyone has caught on to it yet.
The US gubment figured it out
CrazyNutz
Well-known member
The US gubment figured it out
We'll if they are smart they would sell that 200k worth of BTC in about a year and have $20,000,000,000.
Then wait for the bottom a year later, and buy 400k or more of BTC
Tax free too
Laputan Machine
Well-known member
Someone explain this to me:
Bitcoin is worth money because it is a finite thing that is currency
(Bitcoin is finite so once it's all mined there's none left IE digital gold)
People mine and horde Bitcoin based on the assumption it will always go up in price
Therefore, it makes absolutely no sense to use it as currency (why would you pay for something with Bitcoin if that Bitcoin will be worth more in the future if you hold on to it?).
Therefore, there is no purpose behind Bitcoin since it isn't actually a currency, it's a digital speculation, aside from it being the largest Ponzi scheme in history.
Where am I wrong? What happens when it's all mined? Won't the value default to 0?
Bitcoin is worth money because it is a finite thing that is currency
(Bitcoin is finite so once it's all mined there's none left IE digital gold)
People mine and horde Bitcoin based on the assumption it will always go up in price
Therefore, it makes absolutely no sense to use it as currency (why would you pay for something with Bitcoin if that Bitcoin will be worth more in the future if you hold on to it?).
Therefore, there is no purpose behind Bitcoin since it isn't actually a currency, it's a digital speculation, aside from it being the largest Ponzi scheme in history.
Where am I wrong? What happens when it's all mined? Won't the value default to 0?
CrazyNutz
Well-known member
So do you use gold as a currency? No, it's a store of wealth/value, and long term investment.
Pretty much what BTC has become. It started with the desire to be used as a currency, but has really just become the digital gold
Right, like I said it was initially intended as a currency, but the demand to buy/hold while it goes up make sense to not sell/trade it.
The purpose is a store of wealth/value. It's a digital asset. Some of the largest companies in the world are so valuable only because of their digital assets. For example Microsoft Windows = Digital Asset.
It will be the year 2140 before it's all mined up, so no need to worry LOL
But on the real, when things of value are more scarce, they become more valuable.
As for currency, you'll probably see other digital coins be used for currency.
Laputan Machine
Well-known member
But gold and Windows have functions, Bitcoin doesn't (if you admit it's not really a currency since the only reason it has value, is because there is the assumption it will increase in value which negates its use as a currency).
JackBootedThug
MURDERATOR
The powers that be will not allow something like this to succeed unless they profit or control it. Look what quadafi planned to do with Libya. Put their currency on a gold standard and involve other African countries as well. That would have de stabilizing effect on the global economy. Everyone would want lybian denaris…or whatever the fuck they have. Hilary and her ilk weren’t having any of that shit.
One has to ask how the US gubment had such an extraordinary budget for 200K bitcoin...