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[–] 22jam22 ago 

Why not a hybrid crypto currency.. Called platinos Platinum backed crypto currency? No clue how this would work but smarter people out there can figure it out..

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[–] jizzswizzler 2 points 0 points (+2|-2) ago  (edited ago)

critical thinking would say it will be exposed as the scam it is before the scammers bail out.

its well past that. That brief drop in the share price of bitcoin?

That was the ponzi scheme organisers getting the fuck out before the bubble burst.

It still has no intrinsic value.

And your ass is still broke. Youre getting nothing back. Thats why it was already made extremely difficult to cash out your investment. Because it was already gone the second you sent them your money.

Im also impressed how much you dumb motherfuckers out yourselves as having literally no clue about even the most basic of economics.

At least now i know that if someone starts telling me all about bitcoin i already know theyre a complete and utter fucktard that probably didnt graduate highschool (neither did i but at least i know the value of a dollar and how that dollar came to be worth a dollar)

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[–] Baconmon 0 points 1 point (+1|-0) ago 

How in god's name is it difficult to cash out?.. You just send your coins back to any exchange like bitflyer or coinbase or kraken etc etc and then convert it to fiat and they send it to your bank..

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[–] SpectacularGoy 2 points 0 points (+2|-2) ago 

One step closer to the mark of the beast system.

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[–] AinzOown ago 

Crypto still doesn't make sense to me and makes me feel like a dumb nigger. Like how does it get its value anyway? I buy it with fiat money right?

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[–] go1dfish 0 points 3 points (+3|-0) ago 

It gets its value the same way beanie babies do. People demand them.

The difference is that the supply is mathematically limited in a way that cannot be centrally gamed.

Also bitcoin as a network/currency has much more utility than beanie babies, like killing the fed in the long term.

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[–] Cantilever [S] 1 point 0 points (+1|-1) ago 

Except the white paper admits that the entire system depends on the majority of nodes being run by "honest" miners

You think most miners are honest today?

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[–] KoKansei 1 point 1 point (+2|-1) ago  (edited ago)

How does anything get value? By having it bought and sold in the market place.

The whole concept of "intrinsic value" is bunk. The most objective definition of value is purely whatever someone is willing to pay for something.

Bitcoin (Cash) and other cryptos have value because people are willing to exchange a certain amount of other goods or services for them. This is because bitcoin has properties / features as a money that cannot be obtained anywhere else.

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[–] AinzOown 0 points 1 point (+1|-0) ago 

So I don't know how anyone can get into bitcoin if they have no idea what its worth. I also don't know how it originated. It's digital right? Someone made it? Why can't they just give themselves a trillion bitcoins whenever they want?

Like how does it get issued?

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[–] Cantilever [S] 2 points -1 points (+1|-2) ago 

Good luck with your cryptos in a power outage

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[–] Cantilever [S] 4 points 0 points (+4|-4) ago 

The value of Silver and gold go far beyond just their looks. The fact that you don't know this shows the hypocrisy of this statement:

Have you actually done any critical thinking about all of this?

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[–] Nalbarcam 0 points 3 points (+3|-0) ago 

silver will not be able to be used as a transactional material. It is far too valuable as a technological ingredient

you're making fun of cryptos saying that the gov't will prevent buying and selling... they could do that much easier with gold and silver ya know

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[–] Cantilever [S] 2 points -1 points (+1|-2) ago 

Correct

However many people assume that the Fed can be defeated by sidestepping it with crypto

People have tried doing the same many times in the past using real money. They were prosecuted for fraud

Crypto is currently classified as an asset. If it comes to pass that it's used as currency, the Fed and the IRS will step in and shut it down under the auspices of fraud, just like they've done with people who've tried using silver and gold as currency

The only way to defeat the fed is to raise political awareness by putting in the hard grassroots work to raise awareness and make central banking politically toxic not to fight against

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[–] Canada_is_gay 1 point -1 points (+0|-1) ago 

Right now all the shadow entities mining bitcoin are pushing it to be a thing because they can effectively create free money as long the market value is greater than server costs to mine. What happens when that taps out? Who is going to be there to prop up the market every time some hacker disappears with millions? Are the big players currently pushing it going to have any interest when they can't make free money anymore?