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Old 16th May 2022, 11:00 PM   #2121
EaglePuncher
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Originally Posted by Dr.Sid View Post
Indeed. It's quite far fetched to compare bitcoin to bathtub water though, wouldn't you agree ?
Nope, it's 100% accurate.
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Old Yesterday, 05:14 AM   #2122
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Originally Posted by Gord_in_Toronto View Post
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.
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Old Yesterday, 05:30 AM   #2123
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Originally Posted by psionl0 View Post
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.
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Old Yesterday, 05:40 AM   #2124
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Originally Posted by SuburbanTurkey View Post
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.
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Old Yesterday, 08:22 AM   #2125
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Originally Posted by psionl0 View Post
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.
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Old Yesterday, 08:44 AM   #2126
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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.
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Old Yesterday, 08:47 AM   #2127
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Originally Posted by Gord_in_Toronto View Post
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.
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Old Yesterday, 10:35 AM   #2128
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You can always buy or sell the bathwater of a youtuber, so this bathwater is not useless...right?........right, guys?
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Old Yesterday, 10:41 AM   #2129
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Originally Posted by ponderingturtle View Post
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.
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Old Yesterday, 10:52 AM   #2130
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Originally Posted by psionl0 View Post
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."
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Old Yesterday, 11:05 AM   #2131
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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.
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Old Yesterday, 12:16 PM   #2132
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Old Yesterday, 12:20 PM   #2133
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I give it a year before Bitcoin is either a microbrewery or another online mattress company.
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Old Yesterday, 01:51 PM   #2134
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Originally Posted by JoeMorgue View Post
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.
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Old Yesterday, 03:11 PM   #2135
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Originally Posted by EaglePuncher View Post
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.
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Old Yesterday, 04:05 PM   #2136
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Originally Posted by psionl0 View Post
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)
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Old Yesterday, 05:06 PM   #2137
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Originally Posted by Gord_in_Toronto View Post
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 View Post
"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.
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Old Yesterday, 06:13 PM   #2138
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Originally Posted by psionl0 View Post
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.
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Old Yesterday, 07:26 PM   #2139
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Originally Posted by Gord_in_Toronto View Post
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.
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Old Yesterday, 07:53 PM   #2140
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Originally Posted by Gord_in_Toronto View Post
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).
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Old Yesterday, 11:34 PM   #2141
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Originally Posted by psionl0 View Post
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.
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Old Today, 12:06 AM   #2142
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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.
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Old Today, 12:21 AM   #2143
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Originally Posted by Samson View Post
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.
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Old Today, 12:26 AM   #2144
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Originally Posted by psionl0 View Post
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; Today at 12:27 AM.
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Old Today, 02:12 AM   #2145
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Originally Posted by Samson View Post
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.
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