Virtual currencies recovering!

[Chiropteran]

Temporarily? We had one of the greatest economic expansions after the great depression. It's like you're living in an alternate reality.

Up until we pay for it, sure. It's amazing what you can do with limitless money when you never need to pay it back. The problem is it can't continue forever. Those trillions and trillions of dollars in debt are going to cause a massive problem someday.

The funny thing is, if we went your way, our debt problem would be worse, because our debts are in nominal dollars and if you had your way, we'd be fucked even worse if we had deflation. It would cost MORE to pay back our debts.

We have never had a deflationary currency, you are just making a wild guess and you are wrong.

That's because you intentionally the most important part what i posted: "most importantly, we get taxed by the same federal government and the government spends its money on all 50 states"

See below. Same federal taxes, but Detroit has no economy to speak of while Washington DC and New York are doing fine. I don't follow your theory. National tax is a national tax, it doesn't do a damn thing to ensure the economy of each state remains viable.

lol. Who the fuck cares if the currency inflates. You do realize that even if things cost more in nominal dollars, you also earn more in nominal dollars too.

Inflates? Are you illiterate? Money was taken out of the banks in Cyprus. We are not talking about mere inflation, I can't imagine how you could misread things so poorly as to assume that. Money earned was NOT increased to compensate for the theft of dollars out of citizens personal savings. And debt, such as mortgages, were NOT cut along with the theft of Euros out of Cyprus accounts.

It was theft of money, plain and simple.

The problem is you're intentionally not listening. Cyprus is constrained by the fact that they are part of a monetary union, NOT a fiscal union. Texas and Arkansas is part of BOTH a monetary union AND fiscal union.

You have said that over and over. How is it relevant? Detroit and Washington DC are in the same "fiscal union" which you think is so important. Detroit's economy is in the toilet, Washington DC is doing fine. How does being in the same union prevent Detroit from going to shit?

It doesn't. Your argument does not prove any useful points.

I read lots

So, basically you have no credentials at all. Welcome to ignore, it'll make the thread cleaner at least.

 

[Phokus]

And how will you know this exactly? I'm sure a lot of people said that too before this crash. It's easy to say "oh there will be more ups and down and I just need to sell it before it tanks", but actually timing it right is damn near impossible.

Because i'm a fairly disciplined guy. I'm smart enough to know the next selloff is going to be even quicker than this one. I'm not looking for a huge gain. And besides that, i can afford to lose it all.

 

[darkxshade]

I am hereby selling darkxshade approved currency. Each DxS(pronounced dix) is only $42 and is now a valid form of currency where dix is accepted.

Buy your dix now while supplies last!

 

[Phokus]

So, basically you have no credentials at all. Welcome to ignore, it'll make the thread cleaner at least.

LoL at putting anyone on ignore. I'm going to laugh my ass off when Chiropetaran loses his life's investment in this ponzi scheme. He sounds like he's in some Jim Jones type cult. Talk about denial.

 

[Mr. Pedantic]

I am hereby selling darkxshade approved currency. Each DxS(pronounced dix) is only $42 and is now a valid form of currency where dix is accepted.

Buy your dix now while supplies last!

Already have one. Don't really need anymore.

 

[Chiropteran]

I am hereby selling darkxshade approved currency. Each DxS(pronounced dix) is only $42 and is now a valid form of currency where dix is accepted.

Buy your dix now while supplies last!

I'll offer you 5 bytecoins for 1 DxS, but you must deliver to me directly.

 

[M0oG0oGaiPan]

how many schrute bucks is 1DxS?

 

[darkxshade]

I'll offer you 5 bytecoins for 1 DxS, but you must deliver to me directly.

Sure I'll personally deliver it... to your face! :whiste:

 

[Doppel]

LoL at putting anyone on ignore. I'm going to laugh my ass off when Chiropetaran loses his life's investment in this ponzi scheme. He sounds like he's in some Jim Jones type cult. Talk about denial.

He put me on ignore also. This makes me sad because be wont see all my mocking ridicule when bitcon crashes just like he's been told it will.

 

[darkxshade]

He put me on ignore also. This makes me sad because I like him but the only way he'll find out is if others quote it

You owe me one :thumbsup:

 

[Doppel]

LoL at putting anyone on ignore. I'm going to laugh my ass off when Chiropetaran loses his life's investment in this ponzi scheme. He sounds like he's in some Jim Jones type cult. Talk about denial.

You owe me one :thumbsup:

Awesome.

 

[randomrogue]

I'd just like to point out that even if Detroit had it's own currency and could print as much as it wanted it would not fix anything there. Detroit's problem is that there are no jobs.

 

[darkxshade]

I'd just like to point out that even if Detroit had it's own currency and could print as much as it wanted it would not fix anything there. Detroit's problem is that there are no jobs.

Then maybe Detroit should explore the possibility of doing bitjobs commonly found in MMOs.

 

[BoberFett]

Buy low, sell high. What do "hackers" have to do with anything? And no, it doesn't need anything official and government approved. The world doesn't need another dollar or euro. Bitcoins are about personal responsibility. They're about buying smart, selling smart, and using good judgment in the storage and handling of your money; pretty much the most anti-American thing ever created.

Given the current state of the Bitcoin market, I'd say they're absolutely NOT about buying and selling smart, or using good judgment.

 

[Chiropteran]

$91. This crash sure has been the end of bitcoin, eh?

 

[Darwin333]

For Bitcoins? Hardy har.

Bitcons a few years from now will be in the dustbin of history and stand as a sore point for newbs who lost money in the face of others telling them how idiotic it was. It will teach them humility and be a strong learning lesson for some of them. Of course, some will never give up and assume that when Bitcon goes 100% bust it was just big banks destroying it because they saw it as a threat, but we all tell ourselves things to cope, don't we? Proof of this: even now after Bitcon has lost as much as 75% of its value in two days there are still people who believe it is a real, viable currency. They will require more education to learn.

To be fair, I bought a dozen bitcoins for novelty not long ago for a little over $20 ea. I don't follow the price at all or anything bitcoin in general but a little over a week ago I saw some article or blog that had something to do with bitcoins and I remembered the ones I had. Checked the price and immediately sold out at around $140 ea. It was a very good thing that I didn't check the price in between because I would have sold for way lower to lock in the profits.

I guess my point is, while it definitely shows that its an absurdly volatile "currency" it is (at least currently) well above what it was at the beginning of the year when I originally bought those few. People actually day trading them who lost a ton of actual money, well thats the risk of day trading anything. If I would have held on to mine they would still be worth over double what I paid.

 

[Dumac]

So, basically you have no credentials at all. Welcome to ignore, it'll make the thread cleaner at least.

You really showed him.

 

[Darwin333]

$91. This crash sure has been the end of bitcoin, eh?

Thats "only" 400% higher than it was 4 months ago or so.

I got no dog in this hunt but I looked at a chart last week and I definitely saw a correction coming.

 

[IronWing]

Tiptoe through the tulips with me.

 

[Dumac]

What a great currency.

 

[Tommy2000GT]

Why was this so popular? It seemed like a really bad idea from the begining

 

[Dumac]

Why was this so popular? It seemed like a really bad idea from the begining

It started off with underground "take down the man! down with the evil banks! bitcoin is so hardcore, man. I can buy drugs and shit with it" currents.

Now people just want to get rich quick through this scam.

 

[Charles Kozierok]

My guess is that this isn't over by a long shot. As soon as this stabilizes a bit, a few more people will dump and then the run for the exits will really begin in earnest.

 

[IronWing]

It started off with underground "take down the man! down with the evil banks! bitcoin is so hardcore, man. I can buy drugs and shit with it" currents.

Now people just want to get rich quick through this scam.

I kind of blame Neal Stevenson and the Cryptnomicon except that fictional currency was going to be backed with gold.

 

[Juddog]

It started off with underground "take down the man! down with the evil banks! bitcoin is so hardcore, man. I can buy drugs and shit with it" currents.

Now people just want to get rich quick through this scam.

Exactly - right now the main people playing in the market are the "I'll buy it at $50 and sell at $60" type of folk. Then you have people like the Winklevoss twins investing millions into bitcoins when they were $9 per BTC, that will probably dump it at some point when it hits a certain amount, when they do, the massive sell-out will cause the currency to plummet in value. When it plummets, people will jump in and buy a bunch when they think it's bottoming out, then it will shoot up again, etc..

Bitcoins really weren't fluctuating so wildly before the entire story broke on "Silk Road" and people using Tor to buy drugs with BTC.