Bitcoin Is Over $7,200!

[timd354]

No fan of Bitcoin either, but what is the intrinsic value of a Federal Reserve Note?

The intrinsic value is that if owe a debt of whatever amount, Federal Reserve Notes are legal tender that the creditor is legally obligated to accept as payment for that debt within the USA. Offering payment of a debt in bitcoins is not legal tender and does not have to be accepted by the creditor.

 

[DTB]

The intrinsic value is that if owe a debt of whatever amount, Federal Reserve Notes are legal tender that the creditor is legally obligated to accept as payment for that debt within the USA. Offering payment of a debt in bitcoins is not legal tender and does not have to be accepted by the creditor.

Same applies to gold.

 

[djd09]

The mark of the beast ..... flat earth ..... closed system ...... cursory academics ..... systemic infantilism ... all on the same plane

... there are higher planes ..... that exist outside the fear propagated by mind control of silly people

And how do you know you are on the right side of the mind control?

 

[Terrel L. Shields]

What if Bitcoin is the mark of the beast? End times are near.

The Venezuelan petro, now there's a currency you can really trust, right? Sure...

 

[Big ole Boy]

And how do you know you are on the right side of the mind control?

I don't wear silly hats and I avoid large crowds/hoards of people loosing their minds at sport events for starters. I go into stadiums at night or racetracks and sit in the stands alone - I do it for decades on end. And I think about the crazies. I watch people at traffic lights as I skip school for a week at 9 years old. I see robots - not people. But, I do meet people along the way who are awake.

 

[Big ole Boy]

The Venezuelan petro, now there's a currency you can really trust, right? Sure...

Crypto folks chuckle at a government block chain - it is the antithesis of the point.

 

[Deleted member 134708]

A programmer/wiz in computers approached me this week. He and I are putting together a 6 gpu mining rig. He has his own business with hospital accounts around the country. I was flattered that he wanted me to go in halves with him on a rig. In downtown Johnson City there are old big banks built back in the 30's. One of them says on the side "The Peoples Bank". Well, I am hoping to convince him we should try to mine Vertcoin which calls itself "the peoples coin". It has the algorithm set up in such a way that it discourages larger miners from mining it (an unpredictable difficulty pattern built-in). I want to mine the peoples coin and make a new type of bank.

If I had the dough. I'd mine up in Alaska. Heat homes with it. Do a trade off system that benifits the town.

 

[Deleted member 134708]

Won't be a problem, since I won't be investing in Bitcoin. I am an investor, not a speculator and I don't buy into things that I cannot objectively value (I also don't play the lottery). Bitcoin has zero intrinsic value and the Bitcoin market is driven by nothing more than market psychology/market momentum as there is no rational or logical basis for its valuation or for the recent run-up in price.

Good luck to you if and when you wade into the bitcoin pool....maybe you will hit the lottery on it.

Not calling you out personally. Happened to stop on this post.

This is the problem. Folks eyes are blurred. (I'm on my phone so bare with me)

You used ponzi earlier. Bitcoin is so far off Ponzi not even funny. Maybe use greater fool theory but ponzi? No.

Intrinsic value?????? That's not an argument against. That's an argument for.

Wtf is the .DXY?

Here's a little lesson to all that should be taught in Charter schools. I hope to everything public schools continue to teach to tests and stay babysitter clubs.




Money isn't objective, it's a collective story of fiction we all agree on. Money is subjective; aka not on an absolute scale.

Money in fiat form is NEVER EVER created until it is loaned. This means when issued. Money is DEBT. Every single time. Money/fiat is debt. A debt holder is a slave.

Decentralized currency is not debt created. It is created by work only. It was never loaned. It was never debt. It is true.

 

[Deleted member 134708]

What kills me the most is the utter disgust with "fiat" , but they always calculated the bitcoin in dollars. When is the total conversion coming?

You are in left field. Not gonna knock you for it cause hey, everyone was at 1 time.

Currencies are relative like anything else.

 

[Deleted member 134708]

The intrinsic value is that if owe a debt of whatever amount, Federal Reserve Notes are legal tender that the creditor is legally obligated to accept as payment for that debt within the USA. Offering payment of a debt in bitcoins is not legal tender and does not have to be accepted by the creditor.

You are factually wrong.

It's legal tender in Japan.