I don't own any Bitcoin, but what the fuck is up with these fags that want to ban Bitcoin? Why are there fags out there who actually want everything to be under 100 % control by the government?
Like I said I don't own any Bitcoin, but why do fags like this exists? What is their usefulness to society?
It just hit 11k! Praise sotashi!
Because currently the value of currencies is manipulated by governments to promote trade done in the way THEY want. A currency whose value is independent of the world's traditional currencies would allow for trade based on how we as individuals desire that trade to be done.
Like years ago there was more of a fuss about how in different country's in Europe you could find Levi's jeans selling for radically different prices in one country vs the next and that it was illegal to buy them in one country and sell them in the next. Because you're then interfering with the corporations potential profits which puts the globalists ill at ease.
He said "it ought to just go back to what we always have had". They are scared! They are losing control. Praise bitcoin.
This. But you need to remember that bitcoin isn't actually a return to the gold standard, it's just another fiat currency. The only reason governments are pissed is because they can't control it.
They can to some degree can't they? At the point where you change money into bitcoin, like at coinbase, I think they can regulate them so all of it is recorded.
They can treat it like a stock that you're trading, but they can't actually change the value of the bitcoin itself the way they do with the Yuan, Dollar, or Yen.
Like with China they intentionally devalue their currency to promote people buying their products, if you're instead trading with bitcoin then the value that the Chinese place on the Yuan is irrelevant in comparison to how the bitcoin is valued.
There's also just the issue that you can actually trade overseas easily with bitcoin. I can buy something from Moldova for just a few dollars with Bitcoin rather than paying Western Union $30-$40 to wire money there.
Endless war requires endless money. A deflationary currency is the war monger's worst nightmare. You must have inflation to finance moar war. That's why scum like Stiglitz hoards gold and gives the rest of us "federal reserve notes". Cuz they're good for ya.
Yeah I tried sending my overseas friend some money and just gave up, it is too hard.
I am not sure if China still does that, I think they used to do it though.
bitcoin is not redistributable to merchants and their nigger armies.
btc = kikes BTFO
the nose knows
>change money into bitcoin
bitcoin *is* money, just like gold, silver, ethereum... government toilet paper? that I'm not so sure about.
It's so irritating wiring money that it's insane at times. Yet now with Bitcoin you can wire hundreds of dollars in just about 10 minutes with just a flat fee. Just imagine how petrified some wiring services like Western Union are about losing business because of crypto.
You spelled (((fags))) wrong
IT REALLY DID REVEAL THE WHOLE SHELL GAME FOR WHAT IT IS
>it's just another fiat currency
You don't know what 'fiat currency' is, nor do you understand Bitcoin
tfw invested in bitcoin years ago
crypto currency = crypto jewery cash is king
It scares (((them))) a currency they can’t control.
I swear this thing will go up $1000 per day for god knows how long.
All my cash gets slowly erroded by taxes and inflation.
>fiat
Is this Burger serious?
Tbqh I'm ready to convert to fiat ASAP
Bitcoin needs a good crash, not to mention that everything is expensive as shit right now
bitcoin is going up because the markets are dumping everything in advance of the announcement from buckingham palace
Weak betas ir authoritarian psychos.
He's just a butthurt nocoiner
I love how scared they are
I believe bitcoin is overpriced, but it's not a bubble. In the end it's just a tool for trade like gold, silver, banknotes or cocoa beans.
stiglitz' cure to everything is print moar
Threadly reminder that bitcoin can go up to as high as $350thousand.
Bitcoin is digital gold. It’s a scarce resource that is in high demand. The bitcoin algorithm has fixed the total number of bitcoins that will ever exist at 21million. The total value of gold in the world is $7.5trillion. The potential price per bitcoin is the total value of gold in the world divided by the total number of bitcoins that can ever exist, which is $350thousand.
most of (((them))) are probably already bought in. it'll be interesting to see where this goes.
what's really interesting is that no government has issued/supported their own crypto or blockchain yet. they must be under pressure not to make a move like that.
any officially state-supported crypto would immediately overtake the existing blockchains and probably force the hand of other governments to issue their own cryptocurrency in response
There actually isn’t an official nobel prize in economics.
>crypto
I'd the gov was running it, it probably wouldn't be crypto.
crypto as in cryptographic
Because (((they))) can print at their will the USD with fractional reserve and cryptocurrencies allow to escape from their cartel.
Every fag here who pretends himself to be a WN or even a natsoc and don't own cryptos is a laughable LARPer who has no real convictions.
New world order. If they know it or not.
((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((Joseph Stiglitz)))))))))))))))))))))))))))))))))))))))))))))))))))))
The entire advantage of blockchain is that it's decentralized, distributed and unforgeable.
A cryptocurrency emitted by the government makes no sense, it's like driving a plane on the road.
>my hairsplitting matters t. double-digit iq
Societies have always had their matrons, schoolmarms, and nags, and thus economics is plagued with people who think they can protect others from their own irrationality. No matter the regulatory environment, a consumer will always find a way to buy what he thinks he wants.
>i doesn't understand what a currency actually is or how it's created
60-65 % of new bitcoin mining is done in Russia and China.
God knows how much bitcoins they own.
Do you want your country subverted by untracable transactions?
If you fear Putin you should fear the bitshekel.
Knowing how much money Russia spends here for propaganda and political influence I can tell you one thing - their money is mostly wasted because their parties are shit.
A currency is a medium of exchange, the USD is created out of thin air based on the decision of the Fed which is owned by (((their))) cartel.
because it could fuck the bank of kike right up
>fiat currency
How come most american posters are legit retarded when they hare the richest nation on earth? How can you be so fucking stupid?
>actually giving a shit about nobel prize ever since Obama got one simply because he was the king niggah
Nobel prizes ain't what they used to be, now its a farce which no self-respecting scientist will stamp their name on since it became a PR tools by POS to promote their bollocks as something exceptional
Pretty accurate.
they could try. but what will happen if they try and fail?
that is why they pretend they've 'allowed' crypto to exist
Ban bitcoin because they don't know who the majority of holders are. No country will buy into bitcoin for the same reason.
Personally all the growth has me spooked, it can occur when a very wealth player continues to pump. It results in steady growth where people start investing to benefit from the downhill snowball effect, the player can then pullout and collapse the snowball taking with it all the people who greedily tried to create free money.
The block chain is here to stay though, for instance Japan has plans on replacing the yen with a government backed cryptocurrency. It will be interesting to see how it pans out. It seems like it will have more pros than cons but time will tell.
>greedily tried to make free money
... Do you have any idea how currencies & inflation work?
Americans disgust me
>Do you have any idea how currencies & inflation work?
Not literally, poor phrasing on my part. I was referring to the individualist profiting off the current deflation of bitcoin which in my opinion is being driven by those with much larger pockets than your Joe Soap who posts on Sup Forums.
welcome to the retardation that is national socialism
Because it's unregulated, and it's cutting into their turf. They're butthurt millennials are embracing a new decentralized capitalist system rather than cucking up to the big banks.
>occur when a very wealth player continues to pum
To have this kind of influence their pockets would have to be Saudi prince tier
This. Pump and dumps can have a similar effect when dumping shitcoins, but the risk and capital required to do it with BTC is insane. And desu, if the price collapsed I would probably just use the dip to buy more BTC.
Literally. There were articles a while back talking about how many millennials don't plan to get a mortgage because they don't trust banks. They're getting scared.
I think the real reason is a lack of capital. If millennials had money they would be buying houses. In the next 5 years I expect to see that number rising, distrust or not.
>Personally all the growth has me spooked
idgaf about bitcoins but seriously fuck off shill
Because it's a fucking pyramid scheme retard
Also probably has something to do with it. I mean fuck they want 20% down. In my area that's easily 40k on a decent place that's not in niggerville
When people get jealous of missing out on anything they innately want the autborities at large to imprison the said opportunity thus making it something worth going without. Humans are dull cunts like that.
>what is a leftist
An unregulated internet currency can fuck up the economy for others. Especially since the EU is thinking of making a web based currency of their own.
>Especially since the EU is thinking of making a web based currency of their own.
More info on this? That's going to go so horribly wrong
>add regulations to bitcoin
>bitcoin value plummets
You're fooling yourself if you think the governments can't squash it
they've gotta keep their own pyramid scheme based on constant, unlimited growth going, and they can't do that if they can't steal from people via inflation and other funny money practices anymore
the majority would never run their currency the way the fed does
It would get shook, but it would come back
Ill look for info, its just going to be one of the things that will be discussed in the EU talks that will be hosted in my country.
Bitcoin is doomed to fail. It's advocates are correct in everything, Bitcoin is superior. That's why it will be eventually outlawed. Expect some big player in contact with Government to dump all their coins at some point and make billions and then read the news how USA is going to outlaw BTC.
Ask yourself, why the hell would ((they)) let BTC just become a big thing? If you actually could start buying other than drugs with it, you don't think the tax officials would panic and demand it being outlawed right away? Tax evasion way too easy with it. A government will break down if it can't collect taxes.
If bitcoin can't become the standard. How the fuck would it work? There are theoretically only 21 million?
They should have designed it to have like at least 100 trillion.
That way it could be circulated without confusion.
>What is their usefulness to society?
None. They're just here to take your money and then use that money to tell you what to do with the rest of what they've allowed you to keep.
All of this will continue, just underground rather than coin base
Those who study economics do well to learn to always do the opposite of what Stiglitz says.
>I don't own any Bitcoin, but what the fuck is up with these fags that want to ban Bitcoin?
they are jews
they think they should own all the currency
Because (((they))) can't control it. It's not centralized like fiat. BTC is rocketing up right now because everyone has lost faith in fiat
That depends on how heavily the governments choose to regulate it. They could easily scare any straight cookie out of the market and then it's back to being something that people just buy drugs with
>
>This. But you need to remember that bitcoin isn't actually a return to the gold standard, it's just another fiat currency. The only reason governments are pissed is because they can't control it.
>Not fiat
>Not currency
you can trade bitcoins for gold, then sell the gold
>
>>change money into bitcoin
>bitcoin *is* money, just like gold, silver, ethereum... government toilet paper? that I'm not so sure about.
In the US the SEC classifies BTC as a commodity, not a currency
Damn havent seen Stiglitz on Sup Forums for a while
>
>It's so irritating wiring money that it's insane at times. Yet now with Bitcoin you can wire hundreds of dollars in just about 10 minutes with just a flat fee. Just imagine how petrified some wiring services like Western Union are about losing business because of crypto.
It's more complicated than a flat fee, and is a lot more expensive than LTC or ETH
Yes, but still cheaper than wiring money. I imagine Btc may become more of a wealth storage medium, and something like ltc or dash becomes currency
Cant find the interview where he mentions it, but basically Jean-Claude Juncker's going to push for a web version of the EU currency, different immigration policies, more investing in the millitary industry and more stuffs.
Farmers actually upset because he wants to cut on agriculture to fund for more security.
> (OP)
>If bitcoin can't become the standard. How the fuck would it work? There are theoretically only 21 million?
>They should have designed it to have like at least 100 trillion.
>That way it could be circulated without confusion.
See XRP
This all reminds me of revelations a little too much for comfort
> (You)
>Yes, but still cheaper than wiring money. I imagine Btc may become more of a wealth storage medium, and something like ltc or dash becomes currency
Honestly I don't know. Go on coinbase and say that you want to send 1 Bitcoin. For me the fees are like 800 bucks
Right it does scale like that. I guess for very large sums wiring would be cheaper. Which I why u like to use ltc to move stuff, is/was cheaper
>Which I why u like
Which is why I like
I think I had a stroke
STIGLITZZZZZZZZZZZZZZZZZZZZZZZZZZZ
He has a point. Every guy that invested has a high chance of having paid a drug dealer.
Its all it buys anyway.
Stop
>the government can't control it
How fucking naive are you seriously? All these people have to do is say "You can only purchase x country's products with cash, debit card, or credit." Boom. It's done. The government just made your imaginary coins more useless than they already are. Unless banks adopt is as acceptable currency (which they won't) or you can cash it out past, say $500,000USD (which you can't) it will remain useless strings of numbers on a computer screen worth nothing. You think countries all over the world haven't already anticipated stopping this since 2010? kek
Bitcoin is one step closer to a global currency you doofus. Bitcoin is a kikes wet dream. A kike dreams of the day he can tax the world.
Because the Jew fears the Satoshi
It would just move out of the mainstream back to the way it was there would be no way to prevent people from using it between each other
>A kike dreams of the day he can tax the world.
Taxes on Btc would be tricky to say the least
This slithery jew former world bank Keynesian comes out of the shadows and wants to ban a monetary system his satanic friends can't control? I'm Shocked
>It would just move out of the mainstream
Nigger, it's never been IN the mainstream to begin with. A handful of retailers accept it, some kid bought a house with it sure. But it's not mainstream and every major bank has already stolen any innovation it had back in 2010. Instant transfer? Banks offer it by phone now for free. Anonymity? It's not anonymous and the ledger has been tracked numerous times by LEO to build cases. So what? You're going to buy drugs with it? Good luck with that because between that and convincing some gullible idiot to buy into the scheme those are the only two options you have of cashing out. It's little more than "legalized" gambling with imaginary money. Ask the average person if they've ever even heard of a "bitcoin" and the resounding answer will be no every single time.
>Ask the average person if they've ever even heard of a "bitcoin" and the resounding answer will be no every single time
You'd be right about 8 months ago. I've had 3 co workers come ask be about it and how to get started in the past month or so. It is coming mainstream, unless they go all out on it, but even then, a lot of people have been made aware that alternatives exist.
>instant transfer
Not to an account at another bank, that shit still takes 3-5 business days. I've heard some banks have begun to use ripple to facilitate faster transfers, but we'll see where that goes.
>anonymity
It's not as anonymous as you might like, but some creative transfers, especially if you trade to things like zcash, can give you that.
>imaginary money
I laugh every time I hear this. The only thing that gives a 5 dollar bill it's value is the fact that the guy down at the store give you $5 worth of shit for it. The exact same principle applies to everything.
Even if Btc doesn't survive, which it likely will, block chain tech is here to stay.
yes blockchain is innovative but your pie in the sky dream of getting rich off this shit is retarded at best. Like head-injury retarded. No one's going to pay you for your coins or let you control shit. Blockchain might stay, might even become popular then comes BoA Coin and ChaseCoin and WellsFargoCoin that are actually backed by banks and, again, your little shitcoins are now worthless. No one's going to buy a bitcoin worth nothing with a ChaseCoin from a bank and you're sure as fuck not going to beat banks at the marketing game on that front. It's crashing as we speak. Have fun.