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(Marketwatch)   Bitcoin is an extreme form of libertarian anarchy, says someone who practices extreme forms of economic malfeasance   (marketwatch.com) divider line
    More: Unlikely, Carbon dioxide, Carbon, hedge funds, portfolio manager, Last month, bitcoin, Bitcoin mining, electric-car maker Tesla  
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567 clicks; posted to Business » on 06 Mar 2021 at 7:30 AM (10 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

 
2021-03-06 7:33:15 AM  
7 votes:
Fiat got us into this monetary shiatshow. Not bitcoin.
 
2021-03-06 8:51:58 AM  
6 votes:
I do so enjoy it when my clients start talking about bitcoin. It means I no longer have to take them seriously and I get to charge them more for spending the time reporting every single thing they do with it as a taxable event.
 
2021-03-06 12:14:37 PM  
4 votes:
Considering people are using Bitcoin to sell for actual currency, and the value of Bitcoin is typically explained in US currency, I doubt Bitcoin will supplant paper money.
 
2021-03-06 4:06:26 PM  
3 votes:

Linux_Yes: You will really enjoy it in 10 or 20 years when cryptocurrency is the new standard.


A speculative commodity that is too volatile, inherently deflationary, and backed by nothing will never become a currency standard.

Bitcoin must fix those problems first before it can even remotely be useful as a unit of exchange. Because right now it's not and it won't ever be with those traits.
 
2021-03-06 3:56:08 PM  
3 votes:

Linux_Yes: TDWCom29: Linux_Yes: TDWCom29: Linux_Yes: TDWCom29: Linux_Yes: Bovine Diarrhea Virus: Considering people are using Bitcoin to sell for actual currency, and the value of Bitcoin is typically explained in US currency, I doubt Bitcoin will supplant paper money.

Go to many other countries where only bitcoin is used

Youve been in the States too long.

Uh....what? You're normally a little loopy, but this is a weird thing to say even for you.

Contrary to the BS not everyone converts bitcoin to their local currency. They buy/sell goods/services with someone else using only bitcoin.   No local currency is involved.

Which country in the world uses only bitcoin? Let alone "many". Which is what you said

Linux_Yes: TDWCom29: Linux_Yes: Rapmaster2000: Bitcoin is over.  The real money is in cryptokitties.  I bough a shiatload of them back in 2015.  They've got to be worth millions now.

Yea

50K per coin sounds like its over.

You silly wabbit

As an investment to convert into real money it's been great. As a currency, well.....

It is only 12 years old     a baby

Paper currency in this nation came about in 1794 if i remember right.

New currency takes time to be trusted and to stabilize.

The way you choads are sucking each others' dicks over it you'd think the conversion to bitcoin as the primary global currency is a few months away

No
Im the one who said it would take 20 years.
Maybe 30 or 40

But it will happen and no one can stop it.

Just like no one could stop the Internet.

It's the Q of currency.

But at least you gave yourself a bigger window, we'll probably both be dead before you an be proven wrong

Also you've failed to tell me which country only uses bitcoin

No government/ country uses bitcoin.

Individual citizens use it and fiat currency.
But it is not unusual for a citizen of any country to use only bitcoin to buy or sell something.  Happens all the time.  And over time it is happening more frequently.

Sounds like paper currency back in the 1800s in this ...


We've gone from "many countries only use bitcoin" to "some people in some small, corrupt (yes even more than the US) countries exclusively use bitcoin"

Move them posts!
 
2021-03-06 12:20:38 PM  
3 votes:

NuclearPenguins: I do so enjoy it when my clients start talking about bitcoin. It means I no longer have to take them seriously and I get to charge them more for spending the time reporting every single thing they do with it as a taxable event.


You will really enjoy it in 10 or 20 years when cryptocurrency is the new standard.

The Future is coming......
 
2021-03-06 9:36:50 AM  
3 votes:
A hedge fund manager is suddenly concerned about fairness and income redistribution?

Pull the other one.

No, the middle one.

Harder.

/that's it
 
2021-03-06 4:02:56 PM  
2 votes:

AsparagusFTW: Fiat got us into this monetary shiatshow. Not bitcoin.


Gold got us into this monetary shiatshow. Not fiat.
 
2021-03-07 2:05:39 PM  
1 vote:

Ishkur: Linux_Yes: Linux dominates everywhere except desktop and gaming.

Like I said: less than 2% marketshare.


And you swallowed the 2% thing too??

Wow
 
2021-03-07 1:22:07 PM  
1 vote:

Ishkur: Linux_Yes: I wouldnt call something used, in the future, by billions of people around the world, backed by nothing.

That is nothing. It's also an incredible conceit.

Linux_Yes: Linux is kicking all kinds of ass

Linux has less than 2% marketshare because people are too busy, stupid, and lazy to care to learn how to use technology.

Same thing with Bitcoin.

Linux_Yes: Big business capitalists have you fooled.

We're talking about currency, which was first minted in Lydia in the 500s BCE. WTF are you talking going on about bug business capitalism?


Routers run Linux

Cars run Linux

Navy drones run Linux

The ISS runs Linux

The mars rover runs Linux

I could go on and on...

Where you been???
 
2021-03-06 10:49:15 PM  
1 vote:

Ishkur: Linux_Yes: You will really enjoy it in 10 or 20 years when cryptocurrency is the new standard.

A speculative commodity that is too volatile, inherently deflationary, and backed by nothing will never become a currency standard.

Bitcoin must fix those problems first before it can even remotely be useful as a unit of exchange. Because right now it's not and it won't ever be with those traits.


Luckily we have projects like Stellar Lumens and Dai that are designed for remittance type transfers.. That is, non-volatile, low fee, and quick.
 
2021-03-06 1:38:10 PM  
1 vote:

Linux_Yes: Bovine Diarrhea Virus: Linux_Yes: Bovine Diarrhea Virus: Linux_Yes: Bovine Diarrhea Virus: Considering people are using Bitcoin to sell for actual currency, and the value of Bitcoin is typically explained in US currency, I doubt Bitcoin will supplant paper money.

Go to many other countries where only bitcoin is used

Youve been in the States too long.

oh yeah. I'm sure countries with fragile economies and/or criminal enterprises posing as a functioning government using a highly volatile currency are wonderful places.
I'll take my chances in the US. I have actual money in my bank account that is useful pretty much everywhere in the world.
Shouldn't you be busy masturbating to a Linus Torvalds poster?

You are holding on to the past too hard.

Cryptocurrency is coming.  And no bailed out bankster is going to be able to stop it.

The past?  Last I checked, the money in my bank account is still valid.  In fact, I'm in the process of buying a home, and my only option for purchase was United States currency. Not Bitcoin.  Not Dogecoin.  It's almost like legitimate businesspeople want to be paid in physical, and stable, currency.

Of course.  Thats the currency of today.

In 20 to 30 years it wont be.


Fark user imageView Full Size
 
2021-03-06 1:23:06 PM  
1 vote:

Bovine Diarrhea Virus: Linux_Yes: Bovine Diarrhea Virus: Considering people are using Bitcoin to sell for actual currency, and the value of Bitcoin is typically explained in US currency, I doubt Bitcoin will supplant paper money.

Go to many other countries where only bitcoin is used

Youve been in the States too long.

oh yeah. I'm sure countries with fragile economies and/or criminal enterprises posing as a functioning government using a highly volatile currency are wonderful places.
I'll take my chances in the US. I have actual money in my bank account that is useful pretty much everywhere in the world.
Shouldn't you be busy masturbating to a Linus Torvalds poster?


Two of the countries that use Bitcoin the most as actual currency are Russia and the Ukraine. Totally trustworthy places
 
2021-03-06 12:23:57 PM  
1 vote:

Bovine Diarrhea Virus: Considering people are using Bitcoin to sell for actual currency, and the value of Bitcoin is typically explained in US currency, I doubt Bitcoin will supplant paper money.


Go to many other countries where only bitcoin is used

Youve been in the States too long.
 
2021-03-06 12:22:44 PM  
1 vote:

Rapmaster2000: Bitcoin is over.  The real money is in cryptokitties.  I bough a shiatload of them back in 2015.  They've got to be worth millions now.


Yea

50K per coin sounds like its over.

You silly wabbit
 
2021-03-06 12:18:47 PM  
1 vote:

AsparagusFTW: Fiat got us into this monetary shiatshow. Not bitcoin.


Bitcoin takes the middle guys banksters out of the buyer/seller equation.

Which is why banks dont like open source decentralized peer to peer cryptocurrency.
They cant steal anymore.
 
2021-03-06 11:08:06 AM  
1 vote:
"If bitcoin starts to displace fiat currencies [government-issued currency that is not backed by a commodity], governments' ability to tax, spend and redistribute will be severely impaired."

They still have the guns, right?  They'll be fine.
 
2021-03-06 8:30:53 AM  
1 vote:
Fark user imageView Full Size
 
2021-03-06 3:44:36 AM  
1 vote:
As opposed to what? Authoritarian anarchy?
 
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