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Epic BitCoin Rant

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6 comments to Epic BitCoin Rant

  • overcast

    Max Keiser the new king of the pump and dump. “GO MAX, GO! KILL,KILL,KILL!!!”

  • mike

    Looks like the Bitcoin is the new gold. Gold will always be king but Bitcoin will go up and up an up as gold should. The difference is Bitcoin isn’t manipulated like gold and silver. When the huge crash real dollar collapse happens then yes bitcoin will go the way of the dodo bird because there will be no way to value it. As long as the Fiat rules bit coin will just go up and up. With Banks robbing people of cash the perception remains remain very strong in the minds of the masses that these paper currency’s hold value. As long as you can keep the economy slumping and keep taxing and regulation you keep the masses poor and then you have high demand for your paper. It’s that simple. The dollar will not collapse as long as the worlds masses get poorer and poorer and that paper is just out of their reach. What you think would be bullish for gold is not it’s bullish for the dollar. We live in the twilight zone that’s for sure and I am now starting to really understand the game.

    • NaySayer

      How do you know it can’t be manipulated? HOw do you know they aren’t running on a slightly different algorythm than you? How do you trust this when you don’t have any real proof? Who are these people who are behind it? Can you tell me where they worked before? Where they lived? If that japanese guy actually exists?

      Bitcon is based on trust. I don’t trust anything that isn’t real and in my own hand or as Ann Barnhardt stated, “you don’t own anything you can’t stand in front of with an AK47 and defend”. She is right.

  • overcast

    A broken computer, hackers, or being able to go to infinity to the right of the decimal point scares the hell out of me. A silver dollar from 1888 proven time and time again to serve in commerce. How many hands did this dollar go through? How many services, how many products did this dollar buy? Or a better question is how many more will it continue to buy? Bitcoin holds no comparison to hard honest constitutional money.

  • Brett

    bitcoin! bitcoin! bitcoin! LOL love it

    If you want to talk psychology, fine. “In Matter We Trust.” That’s all there is to it. It’s that simple. People who refuse to even entertain bitcoin have a strictly materialistic psychology.

    “Nothing that you can’t hold in your hand has any value.” The materialist takes this as fact, not realizing that it is merely his psychology. Not even gold and silver have any intrinsic value. Yes, they have the longest known history and widest acceptance as markers of value. This is not the same thing as intrinsic. It is psychological. You are putting your trust in gold and silver because it has always worked in the past, as far as we know. So you can save all the theorizing and philosophizng about what has value and what doesn’t and why because that is all there is to it. It’s that simple. The value of gold and silver is derived from historical mass psychology and your decision to keep it going. It is not in the electrons, protons, and electrons that make up the matter. Which is 99.99% empty space anyway.

    If crypto-currency survives and thrives for the next 5,000 years, will the people of that future time consider it’s value “intrinsic?”

    I think before this adjustment period is over, people are going to realize it is not their gold and silver that got them through this, but their humanity. The gold and silver are just serving to pacify the fears of your limbic brain. As faith, trust and beliefs in everything we thought we held dear are collapsing all around us, people are just looking for something, anything, to hang their hat on. I don’t blame anyone for hanging it on gold and silver, given their historical record. And I believe the traditional monetary metals will play an absolutely crucial stabilizing role as we go through whatever we’re about to go through. And I believe people who hold gold and silver will be “rewarded” for their contribution of stability to the system during this time.

    If you look at the world through through hype colored glasses, of course everything you see looks like hype. No need for science (or investigative journalism) here, we’ve already found what we’re looking for!

    “It is the mark of an educated mind to be able to entertain a thought without accepting it.” -Aristotle

    Notice he used the world educated, not intelligent. It is available to anyone, no matter how smart you do or do not think you are, or have been told. You simply have to educate yourself.

    I think the recent “Moneyness of Bitcoin” article from the Mises Institute made it perfectly clear. If you believe we are about to experience an Apocalypse that will wipe out the Internet and reduce us all to abject materialism, trading metal for food and shooting aggressive mobs who failed to prepare themselves, then yeah I would say bitcoin is probably not for you. It doesn’t fit your psychology. But I’d also say you have a pretty dim expectation of the future.

    If you believe that we as a society will get through this, perhaps reorganized in a way that works for everyone instead of just TPTB, and that our clever virtual systems will come with us, then something like bitcoin may have a beneficial role to play. So why don’t you put a little more imagination into those potential scenarios? You have more than adequately prepared yourselves for the worst case scenario. Are you prepared for the best case scenario? How’s your psychology around that?

  • NaySayer

    If you want to own it as a speculative investment with money you can afford to lose, then go for it. Have fun. But it is the new “emperor’s new clothes” gambit. I haven’t been called uncool for not going with the newest fad since junior high school.

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