My faith in Bitcoin just went out the window - Page 5 - TigerDroppings.com

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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
11345 posts
 Online 

re: My faith in Bitcoin just went out the window


Set it on fire, your result will be the same but it'll be over quickly.





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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
79869 posts
 Online 

re: My faith in Bitcoin just went out the window


quote:

I would appreciate it if you answered mine.
Maybe he is just being rude and refuses to reply to your posts....






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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
11345 posts
 Online 

re: My faith in Bitcoin just went out the window


Maybe if it had a backing of something other than the word of the bitcoin creator. Whom by the way nobody has met or knows if they truly exist. Someone we could hold accountable when the scam collapses.

Now I'd appreciate if you could answer Russians questions?.







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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: My faith in Bitcoin just went out the window


quote:

Maybe if it had a backing of something other than the word of the bitcoin creator. Whom by the way nobody has met or knows if they truly exist. Someone we could hold accountable when the scam collapses.


That's your whole beef? Backing?

In that case, cryptocurrency will never be for you, as one of the key components of them will be that they have no backing. If that scares you, then don't use bitcoins or other non-backed currencies.

quote:

Now I'd appreciate if you could answer Russians questions?.


Which questions specifically?






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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
11345 posts
 Online 

re: My faith in Bitcoin just went out the window


How about any of them?





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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: My faith in Bitcoin just went out the window


quote:

How about any of them?


Post them and I'll answer them.






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MetalTiger
Memphis Fan
Member since Jan 2009
1106 posts

re: My faith in Bitcoin just went out the window


WikiTiger is correct. Your faith in Site5 as a domain registrar should be shaken. There is nothing wrong with bitcoin. I trust my hardware and encryption to protect my BTC. It is as simple as using truecrypt and offline storage.





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TheOcean
Florida State Fan
Member since Aug 2004
30543 posts

re: My faith in Bitcoin just went out the window


quote:

It is as simple as using truecrypt and offline storage.


Easy as 1, 2, 3 for the average computer joe.






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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
14848 posts
 Online 

re: My faith in Bitcoin just went out the window


quote:

bitcoins cannot be frozen or seized by any government or private actor
This is categorically untrue in the United States. What do the following mean?

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the
Standard of Weights and Measures;

To provide for the Punishment of counterfeiting the Securities and current Coin
of the United States

Those are powers specifically granted to COngress by our Constitution. Your bitcoins could be declared worthless foreign coins, exchange rate of zero, at any point in time by Congress. Possession could be made a crime just like possession of child pornography. Those are hardly characteristics that excel traditional currencies.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
79869 posts
 Online 

re: My faith in Bitcoin just went out the window


quote:

Post them and I'll answer them.
I've already posted them. You're just showing your immaturity.






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boosiebadazz
Member since Feb 2008
45284 posts

re: My faith in Bitcoin just went out the window


libertarians are sovereign citizens and the actions of the United States government have no bearing on them





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TheOcean
Florida State Fan
Member since Aug 2004
30543 posts

re: My faith in Bitcoin just went out the window


quote:

Your bitcoins could be declared worthless foreign coins, exchange rate of zero, at any point in time by Congress.


Yeah, I felt like bringing this up, but realized it would just garner some around-the-bout reply. Once the US takes action against bitcoin (which it will), I'm going to guess the entire scheme crashes.






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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: My faith in Bitcoin just went out the window


quote:

This is categorically untrue in the United States. What do the following mean?

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the
Standard of Weights and Measures;

To provide for the Punishment of counterfeiting the Securities and current Coin
of the United States

Those are powers specifically granted to COngress by our Constitution.


I don't think you quite understand the constitution. But whatever, I'll never convince you of how wrong you are on this topic. Even showing you alternative currencies being legally used in the US wouldn't convince you.

quote:

Your bitcoins could be declared worthless foreign coins


They can do that all they want. It will have no real impact on the actual price, except maybe cause it to go up.

quote:

Possession could be made a crime


Is this something you would support?







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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: My faith in Bitcoin just went out the window


quote:

Once the US takes action against bitcoin (which it will)


What will they do?

How will they accomplish their goals?

Will they be able to enforce their laws globally?






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TheOcean
Florida State Fan
Member since Aug 2004
30543 posts

re: My faith in Bitcoin just went out the window


quote:

Even showing you alternative currencies being legally used in the US wouldn't convince you.


Difference: they are taxed.






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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: My faith in Bitcoin just went out the window


quote:

Difference: they are taxed


Bitcoins can be taxed.






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TheOcean
Florida State Fan
Member since Aug 2004
30543 posts

re: My faith in Bitcoin just went out the window


quote:

What will they do?


Take action similar to the Poker industry, but harsher. Prosecute major third party sites and push the US population out of bitcoins.






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TheOcean
Florida State Fan
Member since Aug 2004
30543 posts

re: My faith in Bitcoin just went out the window


I'm not saying it can't be, but I believe one of the main bitcoin purposes is to avoid government taxation (could be wrong).


This post was edited on 3/8 at 11:55 am


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: My faith in Bitcoin just went out the window


quote:

but I believe one of the main bitcoin purposes is to avoid government taxation (could be wrong).


it does make taxation avoidance extremely easy, and it makes investigation extremely expensive






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boosiebadazz
Member since Feb 2008
45284 posts

re: My faith in Bitcoin just went out the window


wikster, i want to go back to my idea of the government mining a bunch of coins.

didnt you say that the rate of mining is controlled i.e. only 100 coins can be mined an hour or whatever. of those 100 coins, what determines how many i would get versus how many you would get? is it the power of the computing machinery?



This post was edited on 3/8 at 11:59 am


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