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Good article that details exactly why the bitcoin is a pyramid scheme

Started by Faust, April 09, 2013, 02:28:19 PM

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The Good Reverend Roger

And on THAT note, what the fuck is wrong with the currency we have now?

" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Reginald Ret

Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:21:48 AM
And on THAT note, what the fuck is wrong with the currency we have now?
The currency is fine. The organisations controlling it however...
Lord Byron: "Those who will not reason, are bigots, those who cannot, are fools, and those who dare not, are slaves."

Nigel saying the wisest words ever uttered: "It's just a suffix."

"The worst forum ever" "The most mediocre forum on the internet" "The dumbest forum on the internet" "The most retarded forum on the internet" "The lamest forum on the internet" "The coolest forum on the internet"

The Good Reverend Roger

Quote from: :regret: on November 29, 2013, 07:16:05 AM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:21:48 AM
And on THAT note, what the fuck is wrong with the currency we have now?
The currency is fine. The organisations controlling it however...

Exactly my point.  Go to a new currency, the same fuckers will do the same damn thing.

This sort of shit is worse than people saying "we need to restore the constitution", ignoring the rather HUGE and fatal flaw in the argument itself...That is to say, the constitution got us where we are now.  "reset" it, and we're RIGHT BACK WHERE WE STARTED.

DUMBASSES.  ALL OF THE HUMANS.  GET OFF OF MY PLANET.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Payne

Quote from: Shtik on April 11, 2013, 06:31:41 PM
Quote from: Faust on April 11, 2013, 10:41:06 AM
Quote from: Junkenstein on April 11, 2013, 10:35:03 AM
Zimbabwe must have been pissed to lose that claim to infamy.
Yeah, they are now only the second most unstable joke currency in the world.

What do you mean? I don't see the problem there. I for one would love to buy a stack of these for five bucks!



Come to think of it, we should just add a few zeroes to the end of every dollar. Lets all be trillionaires!

http://theworstthingsforsale.com/2013/04/13/one-hundred-trillion-dollars/

Reginald Ret

Quote from: Dirty Old Uncle Roger on November 29, 2013, 07:19:16 AM
Quote from: :regret: on November 29, 2013, 07:16:05 AM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:21:48 AM
And on THAT note, what the fuck is wrong with the currency we have now?
The currency is fine. The organisations controlling it however...

Exactly my point.  Go to a new currency, the same fuckers will do the same damn thing.

This sort of shit is worse than people saying "we need to restore the constitution", ignoring the rather HUGE and fatal flaw in the argument itself...That is to say, the constitution got us where we are now.  "reset" it, and we're RIGHT BACK WHERE WE STARTED.

DUMBASSES.  ALL OF THE HUMANS.  GET OFF OF MY PLANET.
Yep.
Though i feel inclined to add that i have nothing against alternative currencies, I just think this one is impressively stupid. Especially since it is not an alternative, it is just a product you can buy with real money that does some of the things real currency does. Mostly the bad things for some reason.
Lord Byron: "Those who will not reason, are bigots, those who cannot, are fools, and those who dare not, are slaves."

Nigel saying the wisest words ever uttered: "It's just a suffix."

"The worst forum ever" "The most mediocre forum on the internet" "The dumbest forum on the internet" "The most retarded forum on the internet" "The lamest forum on the internet" "The coolest forum on the internet"

Wisa1

Quote from: Faust on November 28, 2013, 11:20:29 PM
The Bitcoin has been integrated into the system that's what these congressional hearings are about. It's not a viable alternative to the existing system because the people currently making money off it were the early investors, they are cashing out their amounts for the inflated prices brought on by new investment.

That's where the YoYo pattern is coming from. It breaks a thousand today, it drops to 400 tomorrow, repeat until dilution. When dilution reaches a certain point it will be a stable currency but at that point it will have been subjected to the following:
Criminalisation for failure to declare income in bitcoin (read goodbye anonymous money transfer).
Regulation on how much bitcoin you can have.
And an attempt at taxation by various nation states.

Everyone thinks this is a great thing that it's currently being discussed in goverment, when in reality it is a discussion that will lead to it being crippled if not its complete demise.
I never suggested that Bitcoin might be a viable alternative(I thought my French Revolution analogy made that pretty clear). My only point was to suggest that if the banks are getting worried then the perhaps the process you just described might considerably shake up the system and perhaps leave the way open to a truly viable alternative.
I am no economics expert but a system of global exchange whereby an hour of menial work in one city earns you the right to purchase several kilos worth of highly manufactured plastic junk that took many many menial man hours to produce, while the same hour of menial work in another city barely earns you a half a kilo of grain, can not possibly be considered an efficient and viable system.
The global information network opens up myriad possibilites for new systems of exchange which we should be actively exploring at every opportunity instead of trying to mutate some centuries old model that was originally designed to work in a world of clearly divided nation states AND with a gold standard which has since been quite unceremoniously discarded in order to achieve a level of corruption and resource control that is grander in scope and reach than any known 'economic system' that has ever existed.
Bitcoin may not have the answers, I certainly don't and apparently neither do the Holy Men™ but if Bitcoin and its squatter knights can strike a blow at the big banks then maybe someone who does might get the chance to step up.
"As I treks through the cesspit I sharps up my wit"
"We dont wanna be, we just be"
-Roots Manuva

Wisa1

Quote from: Dirty Old Uncle Roger on November 29, 2013, 07:19:16 AM
Quote from: :regret: on November 29, 2013, 07:16:05 AM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:21:48 AM
And on THAT note, what the fuck is wrong with the currency we have now?
The currency is fine. The organisations controlling it however...

Exactly my point.  Go to a new currency, the same fuckers will do the same damn thing.

This sort of shit is worse than people saying "we need to restore the constitution", ignoring the rather HUGE and fatal flaw in the argument itself...That is to say, the constitution got us where we are now.  "reset" it, and we're RIGHT BACK WHERE WE STARTED.

DUMBASSES.  ALL OF THE HUMANS.  GET OFF OF MY PLANET.
I think the point is to get beyond the idea of currency.
"As I treks through the cesspit I sharps up my wit"
"We dont wanna be, we just be"
-Roots Manuva

Wisa1

Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:19:36 AM
Quote from: Wisa1 on November 28, 2013, 09:52:19 PM

I would also point out the fact that Bitcoin has entered the consciousness of a far larger portion of the current global population than any other private currency project to date.

So has Amway.  What's your point?
Cain pointed out that private currencies were nothing new and he reasoned that because of their past failure Bitcoin would follow suit, I was merely responding to this statement by pointing out that although the idea was nothing new Bitcoin is unique in being the Private Currency Experiment with the widest reach to date thus suggesting that Cain's reasoning was flawed.
"As I treks through the cesspit I sharps up my wit"
"We dont wanna be, we just be"
-Roots Manuva

The Good Reverend Roger

Quote from: Wisa1 on December 01, 2013, 03:14:08 PM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 07:19:16 AM
Quote from: :regret: on November 29, 2013, 07:16:05 AM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:21:48 AM
And on THAT note, what the fuck is wrong with the currency we have now?
The currency is fine. The organisations controlling it however...

Exactly my point.  Go to a new currency, the same fuckers will do the same damn thing.

This sort of shit is worse than people saying "we need to restore the constitution", ignoring the rather HUGE and fatal flaw in the argument itself...That is to say, the constitution got us where we are now.  "reset" it, and we're RIGHT BACK WHERE WE STARTED.

DUMBASSES.  ALL OF THE HUMANS.  GET OFF OF MY PLANET.
I think the point is to get beyond the idea of currency.

Okay.  The only alternative I can think of is barter, and I'd really rather not go back to the 18th century, standard of living-wise.

Did you have something else in mind?
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

The Good Reverend Roger

Quote from: Wisa1 on December 01, 2013, 03:21:15 PM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:19:36 AM
Quote from: Wisa1 on November 28, 2013, 09:52:19 PM

I would also point out the fact that Bitcoin has entered the consciousness of a far larger portion of the current global population than any other private currency project to date.

So has Amway.  What's your point?
Cain pointed out that private currencies were nothing new and he reasoned that because of their past failure Bitcoin would follow suit, I was merely responding to this statement by pointing out that although the idea was nothing new Bitcoin is unique in being the Private Currency Experiment with the widest reach to date thus suggesting that Cain's reasoning was flawed.

It's more like the world's most successful pyramid scheme.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Cain

More people use Bitcoin than existed in the USA during the Free Banking Era, than in 19th century Switzerland, than in 19th century Sweden and Australia?

:lulz:

Yeah, please point out the "flaws in my logic" with your completely ahistorical conception of private currencies.

Wisa1

Quote from: Dirty Old Uncle Roger on December 02, 2013, 01:31:25 AM
Quote from: Wisa1 on December 01, 2013, 03:14:08 PM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 07:19:16 AM
Quote from: :regret: on November 29, 2013, 07:16:05 AM
Quote from: Dirty Old Uncle Roger on November 29, 2013, 02:21:48 AM
And on THAT note, what the fuck is wrong with the currency we have now?
The currency is fine. The organisations controlling it however...

Exactly my point.  Go to a new currency, the same fuckers will do the same damn thing.

This sort of shit is worse than people saying "we need to restore the constitution", ignoring the rather HUGE and fatal flaw in the argument itself...That is to say, the constitution got us where we are now.  "reset" it, and we're RIGHT BACK WHERE WE STARTED.

DUMBASSES.  ALL OF THE HUMANS.  GET OFF OF MY PLANET.
I think the point is to get beyond the idea of currency.

Okay.  The only alternative I can think of is barter, and I'd really rather not go back to the 18th century, standard of living-wise.

Did you have something else in mind?
Barter = yes but how in the fuck does that equate to "going back to the 18th century"?, did the average citizen of the 18th century have near instantaneous textual access to a large percentage of the world population?
"As I treks through the cesspit I sharps up my wit"
"We dont wanna be, we just be"
-Roots Manuva

The Good Reverend Roger

Quote from: Wisa1 on December 02, 2013, 10:18:50 PM
Barter = yes but how in the fuck does that equate to "going back to the 18th century"?, did the average citizen of the 18th century have near instantaneous textual access to a large percentage of the world population?

I wish to buy a computer.  The parts for that computer are made in 6 different countries.

I have a load of chickens to trade for said computer.

HOW DO?
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

The Good Reverend Roger

Come to think of it, how do I pay for police to keep the roads clear of bandits so I can move my chickens?
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Wisa1

Quote from: Dirty Old Uncle Roger on December 02, 2013, 10:21:23 PM
Quote from: Wisa1 on December 02, 2013, 10:18:50 PM
Barter = yes but how in the fuck does that equate to "going back to the 18th century"?, did the average citizen of the 18th century have near instantaneous textual access to a large percentage of the world population?

I wish to buy a computer.  The parts for that computer are made in 6 different countries.

I have a load of chickens to trade for said computer.

HOW DO?
Finally an intelligent question.
Obviously some form of 'currency' is required however I fail to see
A) why we need 182 of them
B) Why they must be subject to inflation
can you provide me with a satisfactory answer to either of those questions or will you hide behind the Holy Man™ robes again?
"As I treks through the cesspit I sharps up my wit"
"We dont wanna be, we just be"
-Roots Manuva