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Bitcoin currency discussion

BeauNC

New member
Now the big question is, if WE understand this, why is our government printing paper money like crazy and claiming it has value? If I print money that looks the same, it has no value, but theirs does?
 

mdhollis

Go Kart Champion
^My point exactly my friend. It works, at least for now but we see rising prices every day. Up until the 70's our money was backed by gold and silver. Not anymore
 

nouse4aname

Go Kart Champion
And that's why historically gold prices just track inflation, which isn't much of an investment. The current spike is all emotional.
 

mdhollis

Go Kart Champion
And that's why historically gold prices just track inflation, which isn't much of an investment. The current spike is all emotional.

Yeah it's a hedge against inflation. More of a way to protect your wealth than anything else. Dollar goes down, gold goes up and vise versa. The important thing being a government or a currency could fall off the face of the earth, but gold will still have value.
 

nuggstein

Go Kart Champion
saoifjaoifjsaodijoidsjaoidsjasoidjf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

MAKES ME SICK. It could hit $1 million............gonna buy...............
 

Do Work Son

Go Kart Champion
Now the big question is, if WE understand this, why is our government printing paper money like crazy and claiming it has value? If I print money that looks the same, it has no value, but theirs does?

This is a good question for the liberals who love massive government spending.


Sent from my iPhone 5s - the world's greatest smartphone - so I am clearly better than you and whatever pitiful excuse for a communications device you use.
 

KYGTIGuy

Go Kart Champion
This is a good question for the liberals who love massive government spending.


Sent from my iPhone 5s - the world's greatest smartphone - so I am clearly better than you and whatever pitiful excuse for a communications device you use.

Better question is why do people who hate Milton Friedmans theories always vote for politicians who abide by said theories?
 

Djmikeyd

Go Kart Champion
Look at this shit today. 1000$ per bitcoin. Insane. I sware if i knew about this before i woulda bought them in bulk. Also was going to start mining them on my PC but its not even worth it anymore.
 

mdhollis

Go Kart Champion
Look at this shit today. 1000$ per bitcoin. Insane. I sware if i knew about this before i woulda bought them in bulk. Also was going to start mining them on my PC but its not even worth it anymore.

Yeah that ship has sailed. It has to be the greater fool theory at this point.
 

mdhollis

Go Kart Champion
The whole idea of a virtual global currency that no government can regulate, print, tax and corrupt intrigues me, but I don't understand how a currency can survive being this volatile. A currency needs to have a stable valve to be effective, this just seems like a purely speculative market at this point.
 

Bender1

Banned
The whole idea of a virtual global currency that no government can regulate, print, tax and corrupt intrigues me, but I don't understand how a currency can survive being this volatile. A currency needs to have a stable valve to be effective, this just seems like a purely speculative market at this point.

It can't. The past 48 hours have illustrated it.
 

Bender1

Banned
Look at this shit today. 1000$ per bitcoin. Insane. I sware if i knew about this before i woulda bought them in bulk. Also was going to start mining them on my PC but its not even worth it anymore.

You are about 48 hours behind. Lost almost 50% of its value in the past day/day and a half
 
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