[Merged] Bitcoin - Part 3 - Page 54

EaglePuncher · 16th May 2022, 11:00 PM

Originally Posted by Dr.Sid

Indeed. It's quite far fetched to compare bitcoin to bathtub water though, wouldn't you agree ?

Nope, it's 100% accurate.

psionl0 · 17th May 2022, 05:14 AM

Originally Posted by Gord_in_Toronto

What part of "Unless I can find someone that accepts it is worth something, it is useless . . ." do you not understand? I'm trying to buy something I want. Cash works. Bit-thingies don't if I cant find someone to accept them. If I go on a barter site like swapsity.ca I may find someone who is prepared to swap my cat for a bicycle. Does that make cats currency?

Saying that something is "useless" if you can't spend it is no better than saying that something is "useless" if you can't sell it.

SuburbanTurkey · 17th May 2022, 05:30 AM

Originally Posted by psionl0

Saying that something is "useless" if you can't spend it is no better than saying that something is "useless" if you can't sell it.

I think useless is too charitable. Crypto is worse than useless, it's malignant. It's continued existence is a detriment to society. If this country wasn't a joke, SEC cops would be chopping up mining rigs with an axe like prohibition agents on a whiskey raid.

Dr.Sid · 17th May 2022, 05:40 AM

Originally Posted by SuburbanTurkey

I think useless is too charitable. Crypto is worse than useless, it's malignant. It's continued existence is a detriment to society. If this country wasn't a joke, SEC cops would be chopping up mining rigs with an axe like prohibition agents on a whiskey raid.

Because that worked out quite well, didn't it. I mean I'm not taking this seriously, I'm just calling bad joke.

Gord_in_Toronto · 17th May 2022, 08:22 AM

Originally Posted by psionl0

Saying that something is "useless" if you can't spend it is no better than saying that something is "useless" if you can't sell it.

No, it's not. If I own it and use it, it is useful. If I want to trade it for something else, it is useless.

ponderingturtle · 17th May 2022, 08:44 AM

There is a legitimate use for Crypto currency, paying people who take your computer network hostage. This creates a real demand for crypto that is not easily taken over by cash and other forms of transaction.

psionl0 · 17th May 2022, 08:47 AM

Originally Posted by Gord_in_Toronto

No, it's not. If I own it and use it, it is useful. If I want to trade it for something else, it is useless.

You can always buy or sell bitcoin so your pet definition of "useless" is useless.

EaglePuncher · 17th May 2022, 10:35 AM

You can always buy or sell the bathwater of a youtuber, so this bathwater is not useless...right?........right, guys?

carlitos · 17th May 2022, 10:41 AM

Originally Posted by ponderingturtle

There is a legitimate use for Crypto currency, paying people who take your computer network hostage. This creates a real demand for crypto that is not easily taken over by cash and other forms of transaction.

This is true.

JoeMorgue · 17th May 2022, 10:52 AM

Originally Posted by psionl0

You can always buy or sell bitcoin so your pet definition of "useless" is useless.

Things you buy and sell are products or services, not currency.

Why do Cryptobros keep rediscovering "barter" and parading it about like it means anything.

This has been another rousing edition of "What words mean."

The_Animus · 17th May 2022, 11:05 AM

Crypto still works fine for circumventing bad laws. If say a corrupt or ignorant government has stupid drug laws.

Or as a potential future use if say numerous states enact insane abortion laws and use various means of tracking women such as period apps, or payments to an out of state abortion clinic. Might be nice to pay for that anonymously to reduce the risk of being tried for murder.

carlitos · 17th May 2022, 12:16 PM

JoeMorgue · 17th May 2022, 12:20 PM

I give it a year before Bitcoin is either a microbrewery or another online mattress company.

Dr. Keith · 17th May 2022, 01:51 PM

Originally Posted by JoeMorgue

I give it a year before Bitcoin is either a microbrewery or another online mattress company.

The IPA will be so citrusy. Hops for days.

lomiller · 17th May 2022, 03:11 PM

Originally Posted by EaglePuncher

You can always buy or sell the bathwater of a youtuber, so this bathwater is not useless...right?........right, guys?

Plus bathwater can be used to water your lawn. Overall used bathwater has way more inherent utility that crypto and it doesn't take massive amounts of electricity and expensive computer hardware to produce.

Gord_in_Toronto · 17th May 2022, 04:05 PM

Originally Posted by psionl0

You can always buy or sell bitcoin so your pet definition of "useless" is useless.

Maybe, only if I can make it to the ATM before everyone else cashes out.

"A loaf of bread in Berlin that cost around 160 Marks at the end of 1922 cost 200,000,000,000 Marks by late 1923." (per our friends at Wikipedia)

psionl0 · 17th May 2022, 05:06 PM

Originally Posted by Gord_in_Toronto

Maybe, only if I can make it to the ATM before everyone else cashes out.

This time for sure!

Originally Posted by Gord_in_Toronto

"A loaf of bread in Berlin that cost around 160 Marks at the end of 1922 cost 200,000,000,000 Marks by late 1923." (per our friends at Wikipedia)

I guess that's new. Bitcoin hasn't been compared to a currency that can be printed into oblivion before.

Gord_in_Toronto · 17th May 2022, 06:13 PM

Originally Posted by psionl0

This time for sure!

I guess that's new. Bitcoin hasn't been compared to a currency that can be printed into oblivion before.

In 1922, the mark was about 320 per dollar. By November 1923, one US dollar was worth 4,210,500,000,000 German marks. That's volatility (aka bad).

Just hope Satoshi doesn't decide to cash in.

psionl0 · 17th May 2022, 07:26 PM

Originally Posted by Gord_in_Toronto

In 1922, the mark was about 320 per dollar. By November 1923, one US dollar was worth 4,210,500,000,000 German marks. That's volatility (aka bad).

That's what happens when you don't read a thread before posting.

Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever.

BillC · 17th May 2022, 07:53 PM

Originally Posted by Gord_in_Toronto

In 1922, the mark was about 320 per dollar. By November 1923, one US dollar was worth 4,210,500,000,000 German marks. That's volatility (aka bad).

Just hope Satoshi doesn't decide to cash in.

And that was far from history's worst hyperinflation.

Apropos of nothing really, the falli in value of Terra (halving every 3 hours) was five times faster than what was the worst hyperinflation in history, that of the Hungarian pengö (value halving every 15 hours).

EaglePuncher · 17th May 2022, 11:34 PM

Originally Posted by psionl0

That's what happens when you don't read a thread before posting.

Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever.

Aww, that's cute. You think the amount of bitcoins is somehow tied to their price.

Samson · 18th May 2022, 12:06 AM

Soon the magic 21 million cap will be exposed for the hoax it is.
21 million bitcoin clones can never be prevented unlike the unique proton neutron combo that makes a gold nucleus.
Hodlers are joining for a lovers leap.

psionl0 · 18th May 2022, 12:21 AM

Originally Posted by Samson

Soon the magic 21 million cap will be exposed for the hoax it is.
21 million bitcoin clones can never be prevented unlike the unique proton neutron combo that makes a gold nucleus.
Hodlers are joining for a lovers leap.

Just to show that there is nothing new in these bitcoin threads, readers should check out post #1600.

Samson · 18th May 2022, 12:26 AM

Originally Posted by psionl0

Just to show that there is nothing new in these bitcoin threads, readers should check out post #1600.

Repeating the debate does not invalidate. It is the infinite supply of cryptos that trumps the human construct of 21m bitcoin 1's.
There is a long term trend on the log chart about to be broken, no floor exists.

psionl0 · 18th May 2022, 02:12 AM

Originally Posted by Samson

Repeating the debate does not invalidate.

Yes it does. I proved that even if other cryptos could divert money away from bitcoin, it would not make bitcoin go to zero. You even admitted that yourself.

Ever since, you have been trying to pretend that exchange never happened but I will never let you forget it.

SuburbanTurkey · 18th May 2022, 06:31 AM

It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest.

Gord_in_Toronto · 18th May 2022, 07:39 AM

Originally Posted by psionl0

That's what happens when you don't read a thread before posting.

Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever.

I was just illustrating what volatility means. If I'm a manufacturer of wigets in the crypto-currency world, I'd like be assured that my input costs don't suddenly exceed my sales price the next time I go to buy my materials.

psionl0 · 18th May 2022, 08:18 AM

Originally Posted by Gord_in_Toronto

I was just illustrating what volatility means.

No you weren't. You were equating apples to oranges (something that has been done many times in the bitcoin threads).

The demand for bitcoin may be volatile but the supply isn't - unlike the German Mark where the government was able to crank the printing presses into overdrive.

Dr. Keith · 18th May 2022, 08:26 AM

Originally Posted by SuburbanTurkey

It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest.

I hope there is some shred of originality in this.

ponderingturtle · 18th May 2022, 08:29 AM

Originally Posted by Gord_in_Toronto

I was just illustrating what volatility means. If I'm a manufacturer of wigets in the crypto-currency world, I'd like be assured that my input costs don't suddenly exceed my sales price the next time I go to buy my materials.

Of course that just illustrates its failure as a currency, nothing is priced in bitcoin only in real money that you can exchange based on what ever the value of bitcoin is at that specific time.

Now I am imagining agreeing to buy something on a net 30 schedule and pricing it in bitcoin.

SuburbanTurkey · 18th May 2022, 08:53 AM

Originally Posted by Dr. Keith

I hope there is some shred of originality in this.

Unfortunately no, I saw this elsewhere and shamelessly stole it

Dr. Keith · 18th May 2022, 09:11 AM

Originally Posted by SuburbanTurkey

Unfortunately no, I saw this elsewhere and shamelessly stole it

Don’t tell Thermal.

Chanakya · 18th May 2022, 10:35 AM

Originally Posted by SuburbanTurkey

It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest.

LOL, what was that word? Moppet? Humbert Humbert, I mean to say?

eta: Google to the rescue, Nymphet.

JoeMorgue · 18th May 2022, 10:39 AM

To be fair if age fluctuated as much as Bitcoin's value being a pedo would be harder to avoid.

"Crap she was 21 when we started! I swear!"

Dr.Sid · 18th May 2022, 02:33 PM

Originally Posted by SuburbanTurkey

It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest.

Bitcoin didn't really crash. It's slightly bellow half of ATH, and about 10 times more than 2 years back. It's still higher than 2017 bubble.
Luna crashed .. but it wasn't 13. So yeah, another lame joke. But at least this was somewhat easy to spot.

Samson · 18th May 2022, 03:02 PM

Originally Posted by psionl0

Yes it does. I proved that even if other cryptos could divert money away from bitcoin, it would not make bitcoin go to zero. You even admitted that yourself.

Ever since, you have been trying to pretend that exchange never happened but I will never let you forget it.

Why forget what I believe and always have? I agree with Buffet and Munger and hope cryptos become a means to transfer reliable funds for poor countries without their cheap electricity being ravaged by rapacious neer do wells.

Captain_Swoop · 18th May 2022, 03:14 PM

Originally Posted by Samson

Why forget what I believe and always have? I agree with Buffet and Munger and hope cryptos become a means to transfer reliable funds for poor countries without their cheap electricity being ravaged by rapacious neer do wells.

Whatever that means.

Gord_in_Toronto · 18th May 2022, 03:29 PM

Originally Posted by psionl0

No you weren't. You were equating apples to oranges (something that has been done many times in the bitcoin threads).

The demand for bitcoin may be volatile but the supply isn't - unlike the German Mark where the government was able to crank the printing presses into overdrive.

Yes I was. Cryto-currencies manipulated by speculators are worthless for real world use if they fluctuate in value from minute to minute.

Take a look at whats happened to the AKA "investors" in LUNA:
How a Trash-Talking Crypto Founder Caused a $40 Billion Crash
https://www.nytimes.com/2022/05/18/t...y-do-kwon.html

Quote:

The downfall of Luna and TerraUSD offers a case study in crypto hype and who is left holding the bag when it all comes crashing down. Mr. Kwon’s rise was enabled by respected financiers who were willing to back highly speculative financial products. Some of those investors sold their Luna and TerraUSD coins early, reaping substantial profits, while retail traders now grapple with devastating losses.

Though, of course, some made out OK:

Pantera Capital cashed out 80% of its Terra investment before UST crash

https://www.theblockcrypto.com/post/...fore-ust-crash

Quote:

Since Pantera exited most of its investment early on, it generated a significant profit, per the firm. The firm turned $1.7 million into around $170 million, Paul Veradittakit, partner at Pantera Capital, told The Block.

Gord_in_Toronto · 18th May 2022, 03:39 PM

A report on sanity from the New Yorker:

Coffeezilla, the YouTuber Exposing Crypto Scams

https://www.newyorker.com/news/lette...g-crypto-scams

The channel is here: https://www.youtube.com/channel/UCFQ...S502aghlcr0_aw

Enjoy.

Samson · 18th May 2022, 03:48 PM

Originally Posted by Captain_Swoop

Whatever that means.

Try This:

https://www.newshub.co.nz/home/techn...te-change.html

Prominent investors may find bitcoin bear markets a bore. But research shows the environmental losses from high-priced cryptocurrencies are far more disturbing.

The damage caused by bitcoin mining disproportionately affects poor and vulnerable communities, as mining outfits and crypto developers take advantage of economic instability, weak regulations and access to cheap energy.

Locals wanting to use these resources for productive purposes can be priced out by bitcoin miners. These communities also tend to face the sharp end of the climate crisis, which crypto mining fuels.

16th May 2022, 11:00 PM	#2121
EaglePuncher Banned Join Date: Jan 2022 Posts: 691	Originally Posted by Dr.Sid Indeed. It's quite far fetched to compare bitcoin to bathtub water though, wouldn't you agree ? Nope, it's 100% accurate.
EaglePuncher Banned Join Date: Jan 2022 Posts: 691

17th May 2022, 05:14 AM	#2122
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 19,269	Originally Posted by Gord_in_Toronto What part of "Unless I can find someone that accepts it is worth something, it is useless . . ." do you not understand? I'm trying to buy something I want. Cash works. Bit-thingies don't if I cant find someone to accept them. If I go on a barter site like swapsity.ca I may find someone who is prepared to swap my cat for a bicycle. Does that make cats currency? Saying that something is "useless" if you can't spend it is no better than saying that something is "useless" if you can't sell it.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975

17th May 2022, 08:22 AM	#2125
Gord_in_Toronto Penultimate Amazing Join Date: Jul 2006 Posts: 22,660	Originally Posted by psionl0 Saying that something is "useless" if you can't spend it is no better than saying that something is "useless" if you can't sell it. No, it's not. If I own it and use it, it is useful. If I want to trade it for something else, it is useless.
	__________________ "Reality is what's left when you cease to believe." Philip K. Dick

17th May 2022, 08:44 AM	#2126
ponderingturtle Orthogonal Vector Join Date: Jul 2006 Posts: 52,729	There is a legitimate use for Crypto currency, paying people who take your computer network hostage. This creates a real demand for crypto that is not easily taken over by cash and other forms of transaction.
	__________________ Sufficiently advanced Woo is indistinguishable from Parody "There shall be no poofing in science" Paul C. Anagnostopoulos Force ***** on reasons back" Ben Franklin

17th May 2022, 08:47 AM	#2127
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 19,269	Originally Posted by Gord_in_Toronto No, it's not. If I own it and use it, it is useful. If I want to trade it for something else, it is useless. You can always buy or sell bitcoin so your pet definition of "useless" is useless.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975

17th May 2022, 05:30 AM	#2123
SuburbanTurkey Guest Join Date: Apr 2018 Location: Null Posts: 15,479	Originally Posted by psionl0 Saying that something is "useless" if you can't spend it is no better than saying that something is "useless" if you can't sell it. I think useless is too charitable. Crypto is worse than useless, it's malignant. It's continued existence is a detriment to society. If this country wasn't a joke, SEC cops would be chopping up mining rigs with an axe like prohibition agents on a whiskey raid.

17th May 2022, 05:40 AM	#2124
Dr.Sid Illuminator Join Date: Sep 2009 Location: Olomouc, Czech Republic Posts: 3,821	Originally Posted by SuburbanTurkey I think useless is too charitable. Crypto is worse than useless, it's malignant. It's continued existence is a detriment to society. If this country wasn't a joke, SEC cops would be chopping up mining rigs with an axe like prohibition agents on a whiskey raid. Because that worked out quite well, didn't it. I mean I'm not taking this seriously, I'm just calling bad joke.

17th May 2022, 10:35 AM	#2128
EaglePuncher Banned Join Date: Jan 2022 Posts: 691	You can always buy or sell the bathwater of a youtuber, so this bathwater is not useless...right?........right, guys?
EaglePuncher Banned Join Date: Jan 2022 Posts: 691

17th May 2022, 10:41 AM	#2129
carlitos "más divertido" Join Date: Jul 2009 Location: USA! USA! Posts: 24,384	Originally Posted by ponderingturtle There is a legitimate use for Crypto currency, paying people who take your computer network hostage. This creates a real demand for crypto that is not easily taken over by cash and other forms of transaction. This is true.

17th May 2022, 10:52 AM	#2130
JoeMorgue Self Employed Remittance Man Join Date: Nov 2009 Location: Florida Posts: 40,520	Originally Posted by psionl0 You can always buy or sell bitcoin so your pet definition of "useless" is useless. Things you buy and sell are products or services, not currency. Why do Cryptobros keep rediscovering "barter" and parading it about like it means anything. This has been another rousing edition of "What words mean."
	__________________ "If everyone in the room says water is wet and I say it's dry that makes me smart because at least I'm thinking for myself!" - The Proudly Wrong.

17th May 2022, 11:05 AM	#2131
The_Animus Illuminator Join Date: Nov 2006 Posts: 3,285	Crypto still works fine for circumventing bad laws. If say a corrupt or ignorant government has stupid drug laws. Or as a potential future use if say numerous states enact insane abortion laws and use various means of tracking women such as period apps, or payments to an out of state abortion clinic. Might be nice to pay for that anonymously to reduce the risk of being tried for murder.
The_Animus Illuminator Join Date: Nov 2006 Posts: 3,285	__________________ Don't feed the trolls. Just ignore them.

17th May 2022, 12:16 PM	#2132
carlitos "más divertido" Join Date: Jul 2009 Location: USA! USA! Posts: 24,384

17th May 2022, 12:20 PM	#2133
JoeMorgue Self Employed Remittance Man Join Date: Nov 2009 Location: Florida Posts: 40,520	I give it a year before Bitcoin is either a microbrewery or another online mattress company.
	__________________ "If everyone in the room says water is wet and I say it's dry that makes me smart because at least I'm thinking for myself!" - The Proudly Wrong.

17th May 2022, 01:51 PM	#2134
Dr. Keith Not a doctor. Join Date: Jun 2009 Location: Texas Posts: 25,179	Originally Posted by JoeMorgue I give it a year before Bitcoin is either a microbrewery or another online mattress company. The IPA will be so citrusy. Hops for days.
	__________________ Suffering is not a punishment not a fruit of sin, it is a gift of God. He allows us to share in His suffering and to make up for the sins of the world. -Mother Teresa If I had a pet panda I would name it Snowflake.

17th May 2022, 03:11 PM	#2135
lomiller Penultimate Amazing Join Date: Jul 2007 Posts: 12,451	Originally Posted by EaglePuncher You can always buy or sell the bathwater of a youtuber, so this bathwater is not useless...right?........right, guys? Plus bathwater can be used to water your lawn. Overall used bathwater has way more inherent utility that crypto and it doesn't take massive amounts of electricity and expensive computer hardware to produce.
	__________________ "Anything's possible, but only a few things actually happen"

17th May 2022, 04:05 PM	#2136
Gord_in_Toronto Penultimate Amazing Join Date: Jul 2006 Posts: 22,660	Originally Posted by psionl0 You can always buy or sell bitcoin so your pet definition of "useless" is useless. Maybe, only if I can make it to the ATM before everyone else cashes out. "A loaf of bread in Berlin that cost around 160 Marks at the end of 1922 cost 200,000,000,000 Marks by late 1923." (per our friends at Wikipedia)
	__________________ "Reality is what's left when you cease to believe." Philip K. Dick

17th May 2022, 05:06 PM	#2137
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 19,269	Originally Posted by Gord_in_Toronto Maybe, only if I can make it to the ATM before everyone else cashes out. This time for sure! Originally Posted by Gord_in_Toronto "A loaf of bread in Berlin that cost around 160 Marks at the end of 1922 cost 200,000,000,000 Marks by late 1923." (per our friends at Wikipedia) I guess that's new. Bitcoin hasn't been compared to a currency that can be printed into oblivion before.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975

17th May 2022, 06:13 PM	#2138
Gord_in_Toronto Penultimate Amazing Join Date: Jul 2006 Posts: 22,660	Originally Posted by psionl0 This time for sure! I guess that's new. Bitcoin hasn't been compared to a currency that can be printed into oblivion before. In 1922, the mark was about 320 per dollar. By November 1923, one US dollar was worth 4,210,500,000,000 German marks. That's volatility (aka bad). Just hope Satoshi doesn't decide to cash in.
	__________________ "Reality is what's left when you cease to believe." Philip K. Dick

17th May 2022, 07:26 PM	#2139
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 19,269	Originally Posted by Gord_in_Toronto In 1922, the mark was about 320 per dollar. By November 1923, one US dollar was worth 4,210,500,000,000 German marks. That's volatility (aka bad). That's what happens when you don't read a thread before posting. Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975

17th May 2022, 07:53 PM	#2140
BillC Bazooka Joe Join Date: Jul 2004 Posts: 5,231	Originally Posted by Gord_in_Toronto In 1922, the mark was about 320 per dollar. By November 1923, one US dollar was worth 4,210,500,000,000 German marks. That's volatility (aka bad). Just hope Satoshi doesn't decide to cash in. And that was far from history's worst hyperinflation. Apropos of nothing really, the falli in value of Terra (halving every 3 hours) was five times faster than what was the worst hyperinflation in history, that of the Hungarian pengö (value halving every 15 hours).
BillC Bazooka Joe Join Date: Jul 2004 Posts: 5,231

17th May 2022, 11:34 PM	#2141
EaglePuncher Banned Join Date: Jan 2022 Posts: 691	Originally Posted by psionl0 That's what happens when you don't read a thread before posting. Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever. Aww, that's cute. You think the amount of bitcoins is somehow tied to their price.
EaglePuncher Banned Join Date: Jan 2022 Posts: 691

18th May 2022, 12:06 AM	#2142
Samson Penultimate Amazing Join Date: Oct 2013 Posts: 10,017	Soon the magic 21 million cap will be exposed for the hoax it is. 21 million bitcoin clones can never be prevented unlike the unique proton neutron combo that makes a gold nucleus. Hodlers are joining for a lovers leap.

18th May 2022, 12:21 AM	#2143
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 19,269	Originally Posted by Samson Soon the magic 21 million cap will be exposed for the hoax it is. 21 million bitcoin clones can never be prevented unlike the unique proton neutron combo that makes a gold nucleus. Hodlers are joining for a lovers leap. Just to show that there is nothing new in these bitcoin threads, readers should check out post #1600.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975

18th May 2022, 12:26 AM	#2144
Samson Penultimate Amazing Join Date: Oct 2013 Posts: 10,017	Originally Posted by psionl0 Just to show that there is nothing new in these bitcoin threads, readers should check out post #1600. Repeating the debate does not invalidate. It is the infinite supply of cryptos that trumps the human construct of 21m bitcoin 1's. There is a long term trend on the log chart about to be broken, no floor exists.
	Last edited by Samson; 18th May 2022 at 12:27 AM.

18th May 2022, 02:12 AM	#2145
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 19,269	Originally Posted by Samson Repeating the debate does not invalidate. Yes it does. I proved that even if other cryptos could divert money away from bitcoin, it would not make bitcoin go to zero. You even admitted that yourself. Ever since, you have been trying to pretend that exchange never happened but I will never let you forget it.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975

18th May 2022, 06:31 AM	#2146
SuburbanTurkey Guest Join Date: Apr 2018 Location: Null Posts: 15,479	It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest.

18th May 2022, 07:39 AM	#2147
Gord_in_Toronto Penultimate Amazing Join Date: Jul 2006 Posts: 22,660	Originally Posted by psionl0 That's what happens when you don't read a thread before posting. Most people know that there is a hard limit of 21 million BTC that will ever exist - unlike the German Mark. Like your crystal ball predictions, your posts shed no light whatsoever. I was just illustrating what volatility means. If I'm a manufacturer of wigets in the crypto-currency world, I'd like be assured that my input costs don't suddenly exceed my sales price the next time I go to buy my materials.
	__________________ "Reality is what's left when you cease to believe." Philip K. Dick

18th May 2022, 08:18 AM	#2148
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 19,269	Originally Posted by Gord_in_Toronto I was just illustrating what volatility means. No you weren't. You were equating apples to oranges (something that has been done many times in the bitcoin threads). The demand for bitcoin may be volatile but the supply isn't - unlike the German Mark where the government was able to crank the printing presses into overdrive.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975

18th May 2022, 08:26 AM	#2149
Dr. Keith Not a doctor. Join Date: Jun 2009 Location: Texas Posts: 25,179	Originally Posted by SuburbanTurkey It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest. I hope there is some shred of originality in this.
	__________________ Suffering is not a punishment not a fruit of sin, it is a gift of God. He allows us to share in His suffering and to make up for the sins of the world. -Mother Teresa If I had a pet panda I would name it Snowflake.

18th May 2022, 08:29 AM	#2150
ponderingturtle Orthogonal Vector Join Date: Jul 2006 Posts: 52,729	Originally Posted by Gord_in_Toronto I was just illustrating what volatility means. If I'm a manufacturer of wigets in the crypto-currency world, I'd like be assured that my input costs don't suddenly exceed my sales price the next time I go to buy my materials. Of course that just illustrates its failure as a currency, nothing is priced in bitcoin only in real money that you can exchange based on what ever the value of bitcoin is at that specific time. Now I am imagining agreeing to buy something on a net 30 schedule and pricing it in bitcoin.
	__________________ Sufficiently advanced Woo is indistinguishable from Parody "There shall be no poofing in science" Paul C. Anagnostopoulos Force ***** on reasons back" Ben Franklin

18th May 2022, 08:53 AM	#2151
SuburbanTurkey Guest Join Date: Apr 2018 Location: Null Posts: 15,479	Originally Posted by Dr. Keith I hope there is some shred of originality in this. Unfortunately no, I saw this elsewhere and shamelessly stole it

18th May 2022, 09:11 AM	#2152
Dr. Keith Not a doctor. Join Date: Jun 2009 Location: Texas Posts: 25,179	Originally Posted by SuburbanTurkey Unfortunately no, I saw this elsewhere and shamelessly stole it Don’t tell Thermal.
	__________________ Suffering is not a punishment not a fruit of sin, it is a gift of God. He allows us to share in His suffering and to make up for the sins of the world. -Mother Teresa If I had a pet panda I would name it Snowflake.

18th May 2022, 10:35 AM	#2153
Chanakya Join Date: Apr 2015 Posts: 3,597	Originally Posted by SuburbanTurkey It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest. LOL, what was that word? Moppet? Humbert Humbert, I mean to say? eta: Google to the rescue, Nymphet.
Chanakya Join Date: Apr 2015 Posts: 3,597

18th May 2022, 10:39 AM	#2154
JoeMorgue Self Employed Remittance Man Join Date: Nov 2009 Location: Florida Posts: 40,520	To be fair if age fluctuated as much as Bitcoin's value being a pedo would be harder to avoid. "Crap she was 21 when we started! I swear!"
	__________________ "If everyone in the room says water is wet and I say it's dry that makes me smart because at least I'm thinking for myself!" - The Proudly Wrong.

18th May 2022, 02:33 PM	#2155
Dr.Sid Illuminator Join Date: Sep 2009 Location: Olomouc, Czech Republic Posts: 3,821	Originally Posted by SuburbanTurkey It's pretty obvious why Bitcoin crashed. It turned 13 and libertarians lost interest. Bitcoin didn't really crash. It's slightly bellow half of ATH, and about 10 times more than 2 years back. It's still higher than 2017 bubble. Luna crashed .. but it wasn't 13. So yeah, another lame joke. But at least this was somewhat easy to spot.