PROOF CURRENCY CAN EXIST INDEPENDENTLY OF GOVERNMENT

Tell me again why only fiat is viable as a medium of exchange?

Other urls found in this thread:

bitcoincharts.com/markets/currency/CNY.html
bitcoincharts.com/markets/currency/USD.html
motherjones.com/politics/2016/12/trump-mulvaney-john-birch-society
mulvaney.house.gov/media-center/articles-op-eds/sc-republican-among-founders-congressional-bitcoin-caucus
money.cnn.com/2015/10/06/technology/bitcoin-silk-road/
youtube.com/watch?v=E8Wr6AeZTCE
youtube.com/watch?v=tUI4KNxkknY
nytimes.com/2015/10/26/world/europe/russian-presence-near-undersea-cables-concerns-us.html
nbcnews.com/news/us-news/u-s-hackers-ready-hit-back-if-russia-disrupts-election-n677936
twitter.com/NSFWRedditVideo

>independent of government
>most of the currency traded with the ecoin is the chinese yuan
>there is a direct correlation between ecoins and chinese legislature about economic freedom

Literally a pyramid scheme for drug money

IT'S HAPPENING

fiat isnt even real money. it is a piece of paper. the only true viable medium of exchange is gold and silver. but if you back your fiat with it then it becomes money

1. Go to any bitcoin forum
2. Say that you have insight info about CIA doing operations to block it or arresting ppl, some conspiralogy bs will do even better
3. People start selling it, market does the rest
4. Bitcoin price drops off
Has been done LOTS of times already

>bitcoin
>real currency
Bitch please

t. Poorfag

t. Shitposter

(((Central Bank))) (((Fiat Currency)))

Welcome to Austrian economics, economics without government interference.

Austrian Economics is one of the ultimate redpills

bitcoincharts.com/markets/currency/CNY.html

bitcoincharts.com/markets/currency/USD.html

Notice the massive difference between the CNY and USD volume-wise.

1. Be George Soros
2. Get one of your sockpuppet companies to insinuate the inevitability of an economic collapse within a country
3. liquidate all your investments in the country, exchange your currencies for other currencies
4. Other investors and currency speculators freak out and do the same
5. Economic collapse becomes self fulfilling prophecy

>Government backed money
>real currency
Bitch please

Goldstein said so

This is because Chinese exchanges don't put fees on trading, so you can literally buy/sell to/from yourself without losing anything. This means trading bots can be set up to fake volume.

Not saying China doesn't have the most trading volume, it still does, but no one really knows how much of it is bots faking it.

Because of the (((System))) that will restrict your freedom and take the illusion of wealth from you if you don't obey it.

The (((System))) that is reinforced by your fellow human beings who will happily enforce the (((System))) upon you just so they are still in its favour.

We worship the (((System))).
We reinforce the system.
Cradle to grave.
Day in and day out.

Ultimately, we are the problem.
Conscious or unconscious participation in something is still exercise of free will.

B..But Ben Bernanke said gold wasn't money. He's a smart jew with PhD's out the ass so its gotta be true.

ETH $20 Jan 2017
BTC $1,000 2017
BTC $10,000 2018

cap this.

checked.

Buy now anons, its the money of the 4th reich.
BTC will never bee this low again.

> BTC
> money of the 4th reich
> never be this low again

OH FUG, KEK WILLS IT...!!

praise

is this 2011?

on a macro scale the bots provide stability and liquidity to the market.

ALOT of big companies are relooking at bitcoin as "muh future".
in the last few years its always bounced back from its "crashes" and had several billion in VC for bitcoin related start ups.

TRUMP appointed a pro bitcoin person to head of budget or something.

BRIGHT future for bitcoin.

REMINDER THAT TRUMPS PICK FOR BUDGET SECRETARY IS PRO-BITCOIN AND ANTI-FED

motherjones.com/politics/2016/12/trump-mulvaney-john-birch-society

>Mother Jones obtained audio of Mulvaney's speech to the John Birch Society chapter. In the speech, Mulvaney blasted the Federal Reserve, saying its actions have "effectively devalued the dollar" and "choke[d] off economic growth." He praised bitcoin as a currency that is "not manipulatable by any government."

mulvaney.house.gov/media-center/articles-op-eds/sc-republican-among-founders-congressional-bitcoin-caucus

>Mulvaney and Polis also are working with the Coin Center, a Washington-based nonprofit that focuses on digital currency technology, to help Congress understand how it all works.
"For the past two years we have worked with Representatives Mulvaney and Polis to educate their colleagues through briefings and other events, and the new Congressional Blockchain Caucus will be a wonderful new platform to continue these efforts," said Jerry Brito, executive director of Coin Center. "Their forward-thinking leadership on blockchain technology in Congress is unmatched."

Daily reminder that after the raids on the Silk Road the FBI owns the majority of bitcoins and could crash the market at any time they see fit.

you "currency" doesn't exist outside the internet

money.cnn.com/2015/10/06/technology/bitcoin-silk-road/

No.

my bitcoin is on paper in a safe

Bitcoin:
Currently: $805.83
1 Day gains: 2.31%
1 Week gains: 5.22%
1 Month gains: 11.1%
1 Year gains: 117.72%

and can you go buy a beer at your local pub with that "paper"

get fucking real you god damn nerds

>CNN

It's infrastructure can't currently compete with first world banking services. First worlders have mainly held the currency as a speculative investment, but you forget that most of the world doesn't have the banking infrastructure that we have. In places like China, Bitcoin is literally the only way to get capital out of the country beyond organized crime syndicates.

Check the volume of bitcoin being exchanged on Chinese markets compared to USD markets, its not even close. USD is at

>mike hearn quits bitcoin early this year
>joins some shitty banking cartel group
>claims bitcoin is a failed experiment
>up 115% since he quit
>mfw

I agree, the bots do add some liquidity, which is why I trade on Chinese exchanges.

Bitcoin may still hold its value as a means to store wealth, but it has hit a brick wall as far as being able to scale as a payment network and currency. A fork doesn't look to be happening any time in the foreseeable future, more than half the miners are enjoying the short term profits from an ever-increasing transaction fees and aren't voting to upgrade to any new client, 25% are for (((blockstream's))) sorry ass excuse to centralize their power further, and the rest are slip between a few different implementations that actually do raise the block size limit.

Bitcoin can likely survive one more adoption wave and market bubble before transaction fees get too out of hand and a large percentage of the market participants dip out due to Bitcoin losing one of it's main features, the ability to cheaply transact.

youtube.com/watch?v=E8Wr6AeZTCE

INFINITE CURRENCY

>(((blockstream)))

fuck off shill, on chain scaling solutions are fucking retarded. Your fear mongering is too cringey to bare. Segwit into LN is the path forward and we will see it come to pass in 2017. The state of the market seems to agree.

> as hit a brick wall
WRONG.
bitcoin is slow yes, but its the first cyrypto currency and the gateway to the crypto currency world.
think of it like gold, its damn good for long term store or exchange.
other cryptos will come in and develop the market with the equivalent of "pocket cash" for bitcoins.
But the demand for bitcoin will remain HIGH.

keep in mind, the west esp the us is by far the most technically behind in digital payments.
didn't you just get chip and pin this year?
and 80% of transitions in africa are "micro payments" from mobile to mobile.

once the west comes up to speed with digital payments AND the african/developing markets expand, bitcoin price will boom..!

Stripe has put bitcoin in their platform, and they also have released a POS system, so yes you can pay for a beer with bitcoin.

Paypal is also looking to incorporate bitcoin into its payment system.

IF that happens, bitcoin overnight becomes a bigger market than Visa AND Mastercard combined....

> tfw you realised 2016 was warm up
^__^

Bitcoin is saving lives in Venezuela
when a shithead socialist takes the lead of your country you know what to do

moving gold is expensive, if its real gold or digital.

once the stability, volume, infrastructure and most importantly mindset improves.

Other cheeper alt-coins can be used for day to day use, and bitcoin becomes the "long store" of digital currency.

As the Market cap booms, it will gain stability and turn more into long term investments.

This would suit what people are saying about Bitcoin hitting $10k by 2018.

youtube.com/watch?v=tUI4KNxkknY

> Bitcoin is saving lives in Venezuela
> Bitcoin is saving lives in Venezuela
> Bitcoin is saving lives in Venezuela

THIS...!!

shitthatneverhappened.jpg

You got your replies, now get out.

kek and I sell all my remaining BTC for XMR.

nocoiners can now kys for missing the rocket A SECOND TIME

noice.1995 best year.

>everyone said ancap would never work
>ancaps said hell yeah it works just watch bitcoin
>ancaps own the majority of bitcoin
lads If this keeps going they are going to have more access to resources than STALIN

Uhm guyz digits

I have a degree in Finance so take me at that, but you're absolutely wrong. There were massive issues with the gold standard, namely deflation being harder to control, and there being a limited supply of gold; leading to increased banking crisise potential. Look at the US economy before the 20s, or even before the 60s. There was a severe banking crisis every 10 years.

you can look up the first blocks mined.
satoshi has not moved them.

yes, deflation is fools monetary policy, even at that Monero is better, perpetual tail emission

>tfw lost $20 on Trumpcoin but gained it all back with this rally

missed the boat and will never be rich

redpill me on bitcoins I've seen people mention it over the years but never was motivated enough to read up on it

shit do i buy now?those digits are making me think yes

They sold them at auction. They kept a bit for themselves.

But it always comes back...because bircoin has real value. When they start building smart contracts into cryptocurrency it will skyrocket.

Gonna break top bollinger band soon. Sell!!!!

I dont drink faggot.

>Bitcoin will surely fail. its just a matter of time.

revolutionary software invention, once in a life-time investment opportunity, growing pains now, can't scale because blocks are capped at 1mb (max of 3 transactions per second) and different factions want to different incompatible solutions so stalemate, doesn't have anonymity, nsa paradise, still solid for preserving wealth but Monero will be the future.

Ive been saving all my bottlecaps for this exact reason.

It's only a matter of time before bitcoin becomes jew controlled.

I can't wait for shitcoiners to lose half their coins value as they drive from their house to the supermarket.

so what gives it value? Just the fact it is limited to find?

the only thing giving it value is other good goyim buying it for that same price.

people use it to exchange money from illegal services as well apparently.

>buying bitcoin
>literally a worthless investment that means nothing more than a number in a computer
>not buying gold, silver, platinum, steel, etc all used in manufacturing goods, recession proof and things you can physical own and control

Holy shit. Good luck.

enjoy your little bubble cuck

keep buying

load up

in fact take on debt to buy more

hehehehehehhehe

thats basically it, enough people decided it has value so now we have bitcoin markets and because it has value its mined by a lot of chinks which makes it harder to get and expensive, its a pyramid scheme but not a ponzi

90 percent of the miners to bitcoin is chinese., china will eventually say fuck you and make it theres and it will drop like a boulder hitting a car.

>>not buying gold, silver, platinum, steel, etc all used in manufacturing goods

literally everything is bunch of atoms too, it has value because humans decided it has until the chinks decides to fuck with it because they control all the mining power

>implying you don't physically don't control your keys
Will someone make a logical argument?

>control
theres that word again

>finance major
oh so you mean a status quo drone?

they have been doing this
since it was a dollar
ONE DOLLAR
NO ARGUMENTS

stop shilling monero. network effect is here. IPv4 isn't the best routing protocol yet here we are

>so what gives it value?
The fact that it's accounting ledger (the blockchain) is irrefutable, something that has never been possible in the entire history of human civilization.

what gives it value is it's a historical sequence of transactions that can't be altered or stopped based on computer code. This is secured by mining power which would be computers working at solving a math algorithm. Bitcoin's algorithm is sha-256 and ASIC application specific integrated circuits computers are used to spit out solutions. This creates difficulty and ensures consensus among participating parties. Monero is another type of currency that is using a different algorithm which is solved by high powered GPUs like a r9 290. Monero is anonymous and transactions can't be investigated through blockchain analysis. Both are very interesting concepts.

No, thats not "basically" it. Many attempts at digital currency have existed before bitcoin. None of them took off because none of them had a uncorruptible transaction record that would account possession of value for eternity with no central control.

> irrefutable

Until there's collusion by 51% network control

>muh internet

I'm literally too not-dumb (to not say smart) to fall for this, there is no comparison, the Bitcoin blockchain is distributed but a single file on everyone computer, the ipv4 meme is retarded. Bitcoin will be replaced by Monero and if you don't own Monero you'll be left at bay again. Most early adopters are already on Monero, but sheeple gonna shleeple, you'll not be seeing me here when XMR hits 1,000 USD, I'm just trying to save a few souls.

oh i am enjoying for sure

...

economically it basically, i didn't get into the technical aspects but you are correct.

Bitcoin was the first ever blockchain. It introduced specific rules and rates. There are hundreds of copies with their own take on the rules and rates. It's a culmination of usability, network effect, mining difficulty, inflation rates, fees, and many other things. This is the first time in history currency issuance has turned into a free market. May the most efficient and fair code rise to the top.

good luck

Do you guys actually liquidate any of your crypto?
Do you have targets for when you'll move out of the market?

I liquidate my shitcoins into BTC, but my BTC is never touching fiat again. The point is to never have to actually exchange it for another currency.

Most of my bitcoins were mined/given to me prior to all of these bubbles though, so I only have a few hundred dollars actually invested.

bitcoin is a scam
just like gold

I bought a 100oz silver bar today for 2.1 bitcoin. Every once in a while I'll buy gift cards, but I'll always be a hodler. I believe in it too much to sell it all.

protip: all darkmarkets will switch to Monero and BTC will collapse

Screencaped this moment, selling my Infiniti now

Most DNM users are too retarded to figure out monero. Maybe when monero gets its GUI and figures out its fork to ringct or whatever. But it's not going to collapse bitcoin with an announcement. Look at the price history of monero and the announcement pump and dump a few months ago.

> only fiat is viable as a medium of exchange
Theoretically not only but currently -- only. At least because cryptocurrencies like bitcoin are totally controlled due to backdoors in hardware, operational systems and software.

Something truly independent could only come out from quantum technology among all the directions we have now.

NO FIXED INCOME SECURITIES denominated in Bitcoin.

Where are your Bitcoin T-bonds in which I can park my money at a profit?

t. economist

no, they could of easily sent at a large stimulus package like what happened after 08 to every taxpayer. It would of equally inflated the economy in a fairly balanced way. They could of also introduced fractional reserve banking based on solid equity of assets meaning even tho we aren't conjuring gold or silver, assets (ie. tangable items) can be introduced into the fractional reserve of banks not dependent specifically on gold or silver but on the value how asset holdings. The system we have now is money based on the value of money meaning it's market evaluation is artificially sustained and not determined by equity instead it is based off it's own loaned debts. Without debtors our money would go up in thin air. Own money is valued by money + interest. Put 1 and 2 together and realize we created a system of exponentially diminishing returns (ie. exponential hyperinflation). It would be unsustainable.

PART 1

Bitcoin on the other hand even tho it is a fiat can also be extrapolated into the cost of energy used to create that money. A problem with bitcoin is it is heavily reliant on Moore's Law which is stalling. Second bitcoin was never initially backed by gold or silver coinage and had no true initial value meaning bitcoin isn't fairly spread. There could be a small group who initially held and gathered millions of bitcoins and when the bitcoin market deinflates due to harder and harder computation they could dump all their bitcoins becoming unnaturally rich (ie. worth hundreds of billions).

In short, a fiat like bitcoin that can account the total evaluation our collective recourses BUT MUST initially be exchangeable into physical assets and then later account for the collective recourse making the dispersant phase much smother. Then when it comes to debts and loans interest rates will automatically be equally across then entire board and will be determent on the collective evaluation if defaulted on meaning you can be collected for a service cost and the transfer will be handed into the loaners hands returning his/her assets + the additional interest insured to the collective backing.

PART 2

ok when the internet goes out good luck trying to barter that ink + paper for real goods

Banks will be eliminated but much work is need in AI to calibrate such a perfect and reliable system tracking accumulative wealth of the collective and adding interest into the wallets of everyone meaning your dollar will never go bad. If collective holdings is lost then negative interest (ie. a collective loss tax) is inferred on the balance of everyone's wallets.

No more banks, no more crashes or stalls, no speculation, no more inflation or deflation, only accurate valuation of total pooled recourses. The biggest hurdle is there needs to be a world wide id system for every being who accepts to exchange via tender. It would be flawless but it would also need to be uncorruptible and unchangeable all things the blockchain can do.

PART 3

>Russian submarines and spy ships are aggressively operating near the vital undersea cables that carry almost all global Internet communications, raising concerns among some American military and intelligence officials that the Russians might be planning to attack those lines in times of tension or conflict.

nytimes.com/2015/10/26/world/europe/russian-presence-near-undersea-cables-concerns-us.html

>U.S. military hackers have penetrated Russia's electric grid, telecommunications networks and the Kremlin's command systems...

>Russia, China and other nations have probed and left hidden malware on parts of U.S critical infrastructure, "preparing the battlefield," in military parlance, for cyber attacks that could turn out the lights or turn off the internet across major cities.

nbcnews.com/news/us-news/u-s-hackers-ready-hit-back-if-russia-disrupts-election-n677936

etc.

bitcoin is driven by chinese capital flight nowadays, not DNM

t. WORM

>haha the apocalypse is coming user your digital money will be worthless

i don't need money if i'm dead

Not like bubble but rather someone like NSA can steal all the bitcoins single-handedly, probably already does it on some occasions.

you are right. the only currency that has value is backed by steel.

the us dollar is held up by the military. if you don't think that you are an idiot.

gold is held up by its superficial value. inflated artificially like diamonds. like every other luxury resource.

guns and oil rule the world atm.

if you are in oil right now invest in guns. in 30 years oil won't matter.

owning 10000000 worth of ak47s+ammo will always be worth money in your lifetime and it will only appreciate.

real estate is a close second.

index funds in s&p come 3rd as far as safety and appreciation go. protected by the us military ofc.

The thing is if a group holds that much it's a fair risk. They could sell now or sell later for more/less. The issuance rate dropping is very interesting. If miners flee bitcoin due to a lower reward the security drops. This would drop the confidence and value as well. The code is open sourced and has already been copied hundreds of times. People get to choose which code is most secure, efficient, and fair.

quit being so paranoid all the time, vlad

Tell me, how can NSA "steal all the bitcoins"?

Do they magically have a supercomputer that is >100000x the computational power of the worlds top 500 supercomputers combined? Because that is what it would take to double spend a SINGLE transaction of bitcoin. Not steal, just double spending a single transaction.