When the US defaults on it's debt by failing to raise it's debt ceiling by the 17th, the entire world financial system will collapse, then Bitcoin will be the worlds new reserve currency.
Name:
Anonymous2013-10-09 10:28
Not so sure about that considering its limited supply.
It would be like bringing back the gold standard.
Name:
Anonymous2013-10-09 10:33
Monopoly money to surpass Bitcoin in value on October 17th.
When the US defaults on it's debt by failing to raise it's debt ceiling by the 17th, the entire world financial system will collapse, and no one has any money to play this stupid bitcoin game anymore.
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Anonymous2013-10-09 10:45
Bitcoin to crash
Fusion will soon be perfected, with cold fusion shortly after. With a supply of nearly infinite energy at almost zero cost, the bitcoin network will reach a hashrate of over 500 pedohashespetahashes/second, which will quickly exhaust all the coins. With so little adoption in real world uses, the coin will become nearly worthless.
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Anonymous2013-10-09 10:59
Bitcoin won't do much for the foreseeable future
The US will not default and the world economic system will not collapse. Even if it did, there is absolutely no reason to even let the absurd idea that Bitcoin will be the new reserve currency even waste the time it takes to expel it from your mind. Bitcoin will continue to be traded by enthusiast, wannabe cyberpunks, and undercover police, but it's price will not rise or fall dramatically.
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Anonymous2013-10-09 11:02
>>1
Then the NSA will be like the new Central Bank!
Great!
¬_¬
Name:
Anonymous2013-10-09 11:15
>>4
ASCIBot-coin cannot crash because of inflation, since total # of bitcoins is limited by design
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Anonymous2013-10-09 13:08
>>4 With so little adoption in real world uses
But that's wrong.
It's steadily creeping into the offline world.
Name:
Anonymous2013-10-09 17:14
>>8
Now that they're arresting Silk Road users, it won't even have the paranoid nerd drug market captive. BTC is dead.
Name:
Anonymous2013-10-09 17:17
>>9
Believe what you want, mang.
Enjoy your ignorance.
Name:
Anonymous2013-10-09 17:26
Dubscoin will soon demolish the world economy and usher in a new utopian age of prosperity.
Name:
Anonymous2013-10-09 18:49
New Fed `chairperson' is a woman. Get out of the dollar soon!
How can you even be a reserve currency when you have no reserves of currency..?
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Anonymous2013-10-13 23:16
it's like..
`And on your left is the world's water reserves..'
*points at a big empty dam*
Name:
Anonymous2013-10-13 23:19
or would it be
*points at a big dam full of salt water*
?
Name:
Anonymous2013-10-13 23:25
*points at a big crusty dry salt lake*
xD
Name:
Anonymous2013-10-13 23:31
*with a paranoid desalination plant on the hill excreting more super-saline waste into the reserve...* ^^
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Anonymous2013-10-13 23:33
And a sign, WhiteHill D.C.
Name:
Anonymous2013-10-13 23:46
With a million thirsty armed guards positioned around a 50-gallon fresh-water tank in the desert....
Name:
Anonymous2013-10-13 23:56
>>1
you mean US $1,000,000,000,000 set to drop to 1 bitcoin?
meh, i don't wanna mix my real money with your monopoly money...
Name:
Anonymous2013-10-14 0:15
Really, they never should have stopped making coins out of precious metals... Just a bit silly they didn't realize the price of the metal sets the minimum/maximum value of the coin... you could even use alloys to prevent volatility/etc =)
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Anonymous2013-10-14 0:18
Instead we have a wad of 100 dollar notes materially equal to a used milk bottle...
Name:
Anonymous2013-10-14 0:28
Also, very curiously, there is no such thing as counterfeit money in that scenario, any monies properly made of the material(s) are (or should be) legal...
Name:
Anonymous2013-10-14 0:35
Do it Australia =D
before it is too late....
Name:
Anonymous2013-10-14 0:37
I'll sign up for a job at the mint if need be ^^
Name:
Anonymous2013-10-14 4:00
>>23
There are really good reasons we don't use that system anymore.
Not going to bother actually looking them up, but your post is kinda the equivalent of an economist saying we should go back to programming using punchcards.
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Anonymous2013-10-14 4:29
>>28
i don't think there is, the only one i ever heard was that the price of silver went high once, so people were melting down the coins for silver.. (instead of just increasing the value of the currency =P )
Oh and you can print money for 1/1000000th cost/value... so you can make erryone poor..
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Anonymous2013-10-14 4:36
You need more money... dig some mines you lazy bastards..
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Anonymous2013-10-14 4:46
i bet the whole US isn't even worth 15 trillion dollars xD
Name:
Anonymous2013-10-14 4:54
i wouldn't bid 20 in an italian auction with all that debt....
no fossil fuels left, probably mineral poor, just a big retarded society.....
i feel bad for obama xD
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Anonymous2013-10-14 5:04
>>29 Oh and you can print money for 1/1000000th cost/value... so you can make erryone poor..
As opposed to making every country which doesn't have gold mines poor... Oh, and initially making everybody in the world who doesn't have gold under their bed already broke.
It would be completely incompatible with the modern world.
You wouldn't be able to use things such as paypal without physically mailing coins around.
Besides, fiat currency != money.
It's only a representation of money.
Only a small amount of money has a physical representation.
Jesus Christ Luke, shut the fuck up. Or at least condense your posts. This is not IRC.
Name:
Anonymous2013-10-14 8:25
*grabs dick*
Name:
Anonymous2013-10-14 11:27
>>37
Have you ever considered that your friend is just plain too stupid for the internet?
Name:
Anonymous2013-10-14 11:51
Sorry, it's like a self-contained feedback loop =D
But really, i'm just tired of all this bullshii
It's a bit like US `National Security'... a fucking joke
You are not secure. You're like the most fucking insecure nation there is... and that's without the current scam..
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Anonymous2013-10-14 12:04
What other country imposes their paranoia on people the world over? That's not secure... That's insane.
Secure is not needing to give a fuch about what everyone else is doing constantly..
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Anonymous2013-10-14 12:09
Luke, no one cares. Take some fucking xanax and go to sleep.
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Anonymous2013-10-14 20:43
>>42 is that how yall sleep? xD xanax is not a caring drug...
>>33 because there are no poor countries currently? What is Oil?
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Anonymous2013-10-14 20:55
I don't really see the problem... If you wanted to get fancy, you could even laminate some gold leaf.. Now they would be some flash banknotes.
Why wouldn't you want currency to have actual value?
At this point in time, one country could be mining gold (actual value), and another printing money could be buying it...
I'm not the idiot here....
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Anonymous2013-10-14 21:10
You understand the whole reason counterfeit money is illegal, is because you take something that is worth fuck all, and con someone into thinking it isn't?
How is that different to actual money?
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Anonymous2013-10-14 21:14
>>47
Fiat currency is not money you fucking moron.
Stop talking, you obviously don't realise how incredibly stupid you sound.
I feel sorry for your friend, he must be humiliated for you
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Anonymous2013-10-14 21:32
*googles doubtfully*
Fiat money has been defined variously as:
any money declared by a government to be legal tender.[1]
state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard.[2]
money without intrinsic value.[3][4]
Wow, it sounds great
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Anonymous2013-10-14 21:40
In the midst of the ongoing financial crisis, countries with strong currencies are at risk of capital inflows causing appreciation. The potential impact of such appreciation on a nation's economy is historically unprecedented due to globalization and free trade. Thus the world's central banks are locked into a spiral of "competitive devaluation" in which the value of all fiat money systems is being eroded.[4] This process is reflected in the escalating price of gold — investors flock to gold and other precious metals as a store of value and hedge against inflation, which causes the price to increase rapidly, sometimes for several consecutive years and recently, at many times more than the rate of inflation.[5]
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Anonymous2013-10-14 21:45
The term derives from the Latin fiat ("let it be done", "it shall be").[5] While gold- or silver-backed representative money entails the legal requirement that the bank of issue redeem it in fixed weights of gold or silver, fiat money's value is unrelated to the value of any physical quantity. Even a coin containing valuable metal may be considered fiat currency if its face value is higher than its market value as metal.
The term representative money has been used variously to mean:
a claim on a commodity, for example gold certificates or silver certificates.[1][2][3] In this sense it may be called 'commodity-backed money'. any type of money that has face value greater than its value as material substance. Used in this sense, fiat money is a type of representative money.[4]
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Anonymous2013-10-14 21:47
Luke, you should go twitter. All you do is make 10000 posts describing your mutilated thought process anyway. Is /prog/ is the only site small enough for your tiny Ausfailian internet connection to support your constant microblogging?
And don't even pretend you weren't the `I FUCKING LOVE XANAX' guy.
Name:
Anonymous2013-10-14 21:51
What's so bad about money getting more valuable? Things get cheaper.. It's not a problem when it goes the other direction...?
Name:
Anonymous2013-10-14 21:54
>>52 I've never said that... it's probably The `national security agency' messing with your head =) or a troll, same diff
Name:
Anonymous2013-10-14 22:03
or maybe you are nsa? that would be interesting....
Name:
Anonymous2013-10-14 22:05
pretty unlikely though... those guys are way too fucking pussy to lock horns with the mighty mwah ^^
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Anonymous2013-10-14 22:07
Showing their mutilated thought processes would be far to great of a national security risk eh xD
Name:
Anonymous2013-10-14 22:09
Aw... is babby all insecure still?
Name:
Anonymous2013-10-14 22:10
Even the anonymous tag wouldn't hide your sorry asses
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Anonymous2013-10-14 22:12
back under your bridge bitches
Name:
Anonymous2013-10-14 22:21
>>54-60
What in the fuck is wrong with you? It's been like four years and I've yet to see you make an actually coherent, self-contained post.
Name:
Anonymous2013-10-14 22:31
>>62
It's okay, i don't understand things too sometimes...
Don't feel bad =)
So anyway, what's to stop you from taking your fiat currency, buying a precious metal and minting it / making it the new currency? Like you say, most of the money is in the bank anyway.. it probably shouldn't need to affect anything in the e-commerce business.. much like if you changed the picture on a 20$ note
Or is it even worse? You haven't even printed half the bills? Just thrown a few zeros on an electronic account?
Name:
Anonymous2013-10-15 1:10
DA FUK
Name:
Anonymous2013-10-15 1:11
Mind if i look after my own account too?
Name:
Anonymous2013-10-15 1:13
ive got a 320 gb hard drive..
i am gonna be soooooooooooooooooooooooooooooooooooooo rich
Name:
Anonymous2013-10-15 1:21
at least even bitcoin is semi-secure to that sort of shit...
Name:
Anonymous2013-10-15 1:22
less imaginary than a note you can hold in your hand in that respect..
Name:
Anonymous2013-10-15 1:24
hmm.. maybe it will spike?
Name:
Anonymous2013-10-15 1:40
I hear there is a good bit of money that comes from trading currency.. And at the face of it, it does make sense.. you buy another currency when yours is low, and trade it back high...
So where did this money come from? Obviously it is incompatiable with the gold coin scenario, but that only means "One of them is wrong".... gold is tangible... your floating currency is abstract at best
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Anonymous2013-10-15 1:44
>>82 your the world's floating currency is abstract at best
Money comes from debt.
Fix'd.
Nobody in the world uses gold the standard anymore, just like nobody uses barter anymore.
Name:
Anonymous2013-10-15 3:11
just like common sense?
Hence i am complaining =D
Name:
Anonymous2013-10-15 4:34
No.
Just like ignorance D=
Name:
Anonymous2013-10-15 4:55
like people will ever stop using ignorance... silly!
how do you think the nsa has come so far?
why don't you know why terrorists are such a threat?
Name:
Anonymous2013-10-15 4:59
how did you get into the debt crisis?
why did you torture iraqi's?
where's wally?
^^
Name:
Anonymous2013-10-15 5:04
why haven't you dismantled your nukes yet?
why is greece in poverty?
why is julian assange trapped in england?
where is edward snowden?
Name:
Anonymous2013-10-15 5:07
what do american journalists do exactly?
why do you need guns?
why do you need free trade?
why do you need war?
Name:
Anonymous2013-10-15 5:10
why don't you ask questions?
Name:
Anonymous2013-10-15 5:21
where is your integrity?
Name:
Anonymous2013-10-15 5:23
how do you justify your existence?
Name:
Anonymous2013-10-15 5:33
and you dare interrogate everyone else?
Name:
Anonymous2013-10-15 5:42
Will you ever take responsibility for all your actions?
**YOU HAVE BEEN VISITED BY LE TOP LEL OF COMEDY GOLD** POST THIS IN 5 threads or lose your sides!
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