- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
0
Posted on 12/17/17 at 5:48 pm to fightin tigers
quote:
It has every sign of a ponzi scheme.
It’s not. Go read the original paper introducing it...google “bitcoin satoshi nakamoto”. It’s been around, at least in concept, since 2008. Some ideas even before that.
Bitcoin was not created to be an investment. The fact that it’s being treated like shares of stock is not how it is intended to work. The idea is based around a decentralized Nanking system, but since that doesn’t exist people have adapted it to what they know/have. The anonymity/security of buying items with it is another plus, though it’s actually easier to track than paper currency so anyone doing illegal activities with bitcoin is not too smart.
ETA: I’m just learning about bitcoin, so I’m a little fuzzy on some details, but I’m certain that Smith is right...no such thing as a counterfeit bitcoin. The vulnerabilities come with the exchanges because those can be hacked due to their centralized nature. The bitcoin block chain has never been hacked.
This post was edited on 12/17/17 at 5:57 pm
Posted on 12/17/17 at 5:57 pm to EA6B
quote:
"Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of."
Other than the government declaration there is really no difference between crypto currency and those paper and metal representations of monetary value you carry around in your pocket.
OMG !!! do you even read the stupid shite you write, or is it just your so desperate to somehow justify to yourself that you invested in a totally unsecured high risk gamble that is just like a penny stock that has no real value unless someone else is willing to buy it from you.
us currancy is government backed at face value no matter what and it will always be worth face value no matter what.
you may wake up tomorrow and your bitcoins are worth nothing
bitcoin and crypto currencies are the new penny stocks where people gamble with other peoples money, some will get rich on it and most will go broke and lose everything but stop lying trying to say its just as safe as us or any other government backed currencies
you made a very high risk investment and i hope it works out for you but get the frick outta here with claiming its no different and just as safe as us currency when its not. its no different then dropping your money on the roulette table
This post was edited on 12/17/17 at 6:04 pm
Posted on 12/17/17 at 6:02 pm to keakar
quote:
us currancy is government backed at face value no matter what and it will always be worth face value no matter what.
its scary how ignorant you are with this statement
Posted on 12/17/17 at 6:03 pm to keakar
Oh I see. Based on your grammar, you're just not very intelligent. There's no way you'd understand this subject.
Posted on 12/17/17 at 6:05 pm to jordan21210
quote:
The vulnerabilities come with the exchanges because those can be hacked due to their centralized nature. The bitcoin block chain has never been hacked.
Which is virtually the same thing, since no individual is carrying the full ledger. Logistically it would be an insane prospect.
And yes, bitcoin itself isn't a ponzi scheme, but the current source of the valuation is.
Posted on 12/17/17 at 6:08 pm to Deactived
quote:
its scary how ignorant you are with this statement
well enlighten me oh not so wise one, the value of what they might buy changes but when is a quarter not going to buy a quarters worth of something? and when is a dollar not going to buy a dollars worth of something?
............ crickets chirping
This post was edited on 12/17/17 at 6:10 pm
Posted on 12/17/17 at 6:10 pm to fightin tigers
Again? When the exchange was hacked, someone was able to get into the exchanges own admin software and sold a large amount of bitcoins to himself.
So it's not at all the same thing and having the entire ledger on your machine wouldn't make a difference. I don't even know why you made that statement.
So it's not at all the same thing and having the entire ledger on your machine wouldn't make a difference. I don't even know why you made that statement.
Posted on 12/17/17 at 6:11 pm to rickgrimes
Bitcoin litecoin and dash
What’s in you wallet?
What’s in you wallet?
Posted on 12/17/17 at 6:13 pm to keakar
quote:
us currancy is government backed at face value no matter what and it will always be worth face value no matter what.
Holy shite you are stupid.
Posted on 12/17/17 at 6:24 pm to keakar
quote:
well enlighten me oh not so wise one, the value of what they might buy changes but when is a quarter not going to buy a quarters worth of something? and when is a dollar not going to buy a dollars worth of something?
in my best cptbengal response, youre too stupid to debate with
Posted on 12/17/17 at 6:37 pm to Deactived
quote:
in my best cptbengal response, youre too stupid to debate with
thats ok, we all know you cant defend what you were saying
Posted on 12/17/17 at 6:46 pm to fightin tigers
quote:
Which is virtually the same thing, since no individual is carrying the full ledger. Logistically it would be an insane prospect. And yes, bitcoin itself isn't a ponzi scheme, but the current source of the valuation is.
The end goal is that exchanges won’t be necessary at all. All bitcoin dealings would be done directly with the person or thing you’re doing business with. Obviously right now that is not that case. Agree on the valuation, it’s dangerously high...but like I said earlier, most people heavily involved in bitcoin know it’s a bubble and know it will bust.
I have no stake in it personally, just think the block chain is interesting.
Posted on 12/17/17 at 7:13 pm to Deactived
quote:
in my best cptbengal response
because you know you cant defend the stupid shite you said
Posted on 12/17/17 at 7:15 pm to keakar
I can tell who lost out on some money
Posted on 12/17/17 at 7:16 pm to MrSmith
quote:
Oh I see
and there it is, when you can no longer defend your position against logic you deflect with insults, how juvenile of you
Posted on 12/17/17 at 7:16 pm to keakar
You obviously do not not realize your US dollars are supposedly backed by gold which there isn’t enough if right?
Posted on 12/17/17 at 7:19 pm to tigerbutt
quote:
Holy shite
you guys are the ones arguing that bitcoin is just as safe as us currency so go ahead, lets hear from you who is guarantying you get "x" amount of value for every bitcoin you own if it all goes to shite tomorrow
Posted on 12/17/17 at 7:20 pm to keakar
quote:
and there it is, when you can no longer defend your position against logic you deflect with insults, how juvenile of you
Do you even know what you posted in here?
Your first two posts are long posts of insulting people, laughing at us, and including 20 emojis out the arse like a 12 year old on facebook
Posted on 12/17/17 at 7:20 pm to keakar
quote:So it isn't safer than my cash being stolen, my identity being stolen, or someone stealing my CC information.... damn
you guys are the ones arguing that bitcoin is just as safe as us currency so go ahead,
Page 4 of 5
Back to top
Follow TigerDroppings for LSU Football News