Bitcoin, Blockchain and Cryptocurrencies |
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39884 |
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Then you shouldn't trust your judgement investing in cryptocurrency |
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Pied Piper to: Baldrick, Brendan 88, 9Fingers, Borussia and more...
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MC Hammered
Jack Charlton Joined: 05 Oct 2011 Status: Online Points: 6877 |
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I haven't invested in it and don't plan to either. I don't actually have very strong feelings on the subject at all. I just understand the basic concept and some of the advantages of Cryptocurrency. Its relatively new and the price is all over the place but that will settle down in time. Patience you must have, my young Padawan.
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El Puto Amo
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horsebox
Robbie Keane Born n bred in darndale. Joined: 03 Feb 2010 Location: Ireland Status: Offline Points: 34915 |
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I and others on this site have used it to pay for stuff online.
It's quite simple. |
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It was far across the sea,
When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39884 |
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cs.stanford.edu/people/eroberts/cs181/projects/2010-11/DigitalCurrencies/disadvantages/index.html
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heighway2heaven
Ray Houghton Joined: 12 Feb 2007 Location: Myanmar Status: Offline Points: 4209 |
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You keep repeating this, but in actuality, bitcoin has more inherent value than either the dollar or the euro, or any other fiat currency for that matter. The dollar for instance, used to be backed by a tangible commodity - gold, but it was decoupled from the gold standard in the early 1970's and like the euro and almost all other major world currencies, can now be printed at will to increase or decrease supply, in order to influence interest rates, or to stimulate economies through quantitative easing. This means it's quite literally backed by nothing. Not any more, anyway. Bitcoin on the other hand, enabled by blockchain technology, is 'mined'. Once a new one is created, a brand new (even more) complex mathematical equation is created to enable the 'mining' of the next bitcoin - and this can only happen 21,000,000 times. Its capping at 21 million bitcoins is what lends (and maintains) its inherent value. This means bitcoin is actually backed by something (ok, digitally) tangible, unlike the paper money in your wallet and the 1's and 0's on your computer screen. And TJ, the reason banks are telling you to stay away from bitcoin and other crypto currencies, is that the technology is so massively, massively disruptive to them. It represents decentralised monetization, taking all the power out of the hands of them and the central banks and putting it in the hands of anyone with a smart phone and a coin wallet. Bitcoin is a young currency and as such, any outside effects on it such as the closing down of MtGox or attempts by wold's nations to control or outlaw it has massive ramifications on price. But that will change and level out as time goes by and it becomes adopted by more and more. At the moment fluctuations caused by an outside event can look like the ripples caused by someone throwing a brick in a garden pond, but as the currency ages and becomes used by more, those ripples will look more and more like those from a pebble in a lake. Also, historically speaking, fiat currencies have on average over the centuries, lasted about 25 years. Like empires, they all have a half-life. As long as there is the internet, Bitcoin will most likely be there long after the dollar completely collapses, either caused by the end of the petro-dollar hegemony, or the weight of all the debt, derivatives and easing it's been under for so long now. |
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MC Hammered
Jack Charlton Joined: 05 Oct 2011 Status: Online Points: 6877 |
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El Puto Amo
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DUBLIN DOC
Jack Charlton The F The F The FAI Joined: 30 Jun 2009 Location: Abbottstown Status: Offline Points: 9155 |
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TJ. , I was walking down a country lane yesterday and there was this farmer herding his cattle ahead of me to the market for sale when all of a sudden this yank appeared from nowhere and offered the farmer billions of bitcoin for the cows, the farmers eyes lit up and he fell for the deal, he was really happy and so was Gordon Geko, I just laughed later as I watched the farmer burying his magic coins
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39884 |
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Interesting. So who will pay for national infrastructure like roads and hospitals if this brilliant technology is adapted by all and sundry?
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Pied Piper to: Baldrick, Brendan 88, 9Fingers, Borussia and more...
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heighway2heaven
Ray Houghton Joined: 12 Feb 2007 Location: Myanmar Status: Offline Points: 4209 |
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Where we're going, we don't need roads, Marty
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39884 |
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The financial apocalypse? So central banks will cease to exist. Thats a brilliant idea. Governments wont be able to collect taxes, transactions are completely anonymous, no accountability or come back if fraud has taken place, just an unregulated nirvana. Nobody to fund vital public services. And God forbid if any hacker could disrupt the system. Russia will own the world |
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randyrandolph
500 Club la la la Joined: 09 May 2016 Status: Offline Points: 685 |
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no no no no no no no no no it is f****** nothing like the dollar. you will wake up once day and your magicbeancoins "sorry TJ i'm stealing the magic means quote" will be worth almost nothing. if you think central banks are going to even remotely let something interfere with the money system you are crazy. it is the biggest financial scam in history and you will be sorry you every invested in it. The fundamentals make no sense. Zero. fools, fools, everyone one of you. blockchain is brilliant and here to stay. but magicbeancoins () and their ridiculous "value" will bankrupt so many hard working people because they bought into this stupid and utterly ridiculous craze. we irish love a good tip but this horse is f**ked. it's not even a horse. it's show pony at best. i'm gone from this thread. too infuriating. |
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randyrandolph
500 Club la la la Joined: 09 May 2016 Status: Offline Points: 685 |
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last post.
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9fingers
Paul McGrath Ballymun Resident #MONKEANO Joined: 30 Jan 2010 Status: Offline Points: 16151 |
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H2H
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39884 |
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Randy with the common sense
#listentoRandy |
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9fingers
Paul McGrath Ballymun Resident #MONKEANO Joined: 30 Jan 2010 Status: Offline Points: 16151 |
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Great to see the Liverpool boom bust cycle making an appearance
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39884 |
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So no takers on the funding of public services and infrastructure?
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rossieman
Roy Keane Joined: 01 Apr 2011 Status: Offline Points: 14254 |
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Do you know how we currently fund infrastructure projects? |
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39884 |
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Do you always answer a question witu a question? Yes I do. Taxation and borrowing, private investment and EU. Do you? |
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