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Old Yesterday, 09:56 AM
Status: "To to to Tuuuuuson..." (set 15 hours ago)
 
Location: in my car
3,257 posts, read 1,302,738 times
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Quote:
Originally Posted by NewbieHere View Post
No, but your statement you support a country with no currency is very off. I donít like bit coin, never invested in them, so why are they falling. Who knows? Tulip mania ones to mind.
Or Beanie babies.
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Old Yesterday, 10:27 AM
 
8,431 posts, read 3,574,203 times
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Quote:
Originally Posted by Winterfall8324 View Post
It's not a monopoly money, and that is why it won't work.

Currency can no operate via the free markets being as the free markets were a state invention.
Free markets are controlled by the state. As is their sovereign currency in most modern and successful nations.
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Old Yesterday, 10:31 AM
 
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Quote:
Originally Posted by duke944 View Post
I just told you what my research leads to. Let's see who's right in a few years.
The only thing I'll say is that it is definately not a scam, because it works. Anyone comparing it to monopoly money or the Zimbabwe dollar is a real moron.
Blockchain technology may be useful, but not the currency.

It may not have stared as a scam, but many scams have latched on to it.

Bitcoin itself will continue to flounder as the energy needs kill the already artificial process.

There is simply no hope IMO because it is not state supported.
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Old Yesterday, 11:19 AM
 
Location: Cypress, TX
868 posts, read 2,445,931 times
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As several posters have already mentioned, it's failing due to lack of trust. Widespread adoption can't happen unless enough people trust it as currency. IMO it needs to be regulated, secure, and non-volatile enough for people to trust it and adopt it. When you look at what happened with Mt. Gox, nobody in their right mind is going to trust it. So until something major happens to boost trust, it will remain a virtual security traded by speculators and used by drug dealers and money launderers.
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Old Yesterday, 11:24 AM
 
Location: Paranoid State
13,027 posts, read 9,730,118 times
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Quote:
Originally Posted by NewbieHere View Post
More crazy talk here. Capitalism doesnít equate to bitcoin. In fact most capitalists warn about bitcoin, where have you been. Jump to conclusion arenít we. How old are you?
Don't feed the troll.
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Old Yesterday, 11:27 AM
 
8,431 posts, read 3,574,203 times
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Quote:
Originally Posted by kreeyax View Post
As several posters have already mentioned, it's failing due to lack of trust. Widespread adoption can't happen unless enough people trust it as currency. IMO it needs to be regulated, secure, and non-volatile enough for people to trust it and adopt it. When you look at what happened with Mt. Gox, nobody in their right mind is going to trust it. So until something major happens to boost trust, it will remain a virtual security traded by speculators and used by drug dealers and money launderers.
And....

https://www.marketwatch.com/story/he...try-2018-03-06
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Old Yesterday, 11:42 AM
 
Location: Manchester NH
7,342 posts, read 1,985,918 times
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Quote:
Originally Posted by Hoonose View Post
Free markets are controlled by the state. As is their sovereign currency in most modern and successful nations.
That's exactly why they are not free markets.

'Free markets' in first world countries are commanded by the fed, government spending, and military innovation.

The free markets are a fraud.
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Old Yesterday, 11:56 AM
 
8,431 posts, read 3,574,203 times
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Quote:
Originally Posted by Winterfall8324 View Post
That's exactly why they are not free markets.

'Free markets' in first world countries are commanded by the fed, government spending, and military innovation.

The free markets are a fraud.
My comment was that the free markets were not a state invention.

Nowhere except the outback of Zimbabwe and jungles of Brazil do we have truly free markets.

But Gov't control does not make markets a fraud, but of course do impinge on the word free. Modern and successful capitalist countries have a blend of free markets and gov't control. Any modern and successful capitalist country has a sovereign currency used in its markets, and that has to have Gov't control.
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Old Yesterday, 12:14 PM
 
Location: Manchester NH
7,342 posts, read 1,985,918 times
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Quote:
Originally Posted by Hoonose View Post
My comment was that the free markets were not a state invention.

Nowhere except the outback of Zimbabwe and jungles of Brazil do we have truly free markets.

But Gov't control does not make markets a fraud, but of course do impinge on the word free. Modern and successful capitalist countries have a blend of free markets and gov't control. Any modern and successful capitalist country has a sovereign currency used in its markets, and that has to have Gov't control.
True, but I'll add that areas like the Jungles of Brazil or the North Sentinel Islands don't practice free market economics where prices of goods are determined by investment, they operate communist tribal societies were goods produced are shared freely amongst everyone, not distributed at a cost.

Free markets are a numerical based system, not a barter system.
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Old Yesterday, 12:17 PM
 
8,431 posts, read 3,574,203 times
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Quote:
Originally Posted by Winterfall8324 View Post
True, but I'll add that areas like the Jungles of Brazil or the North Sentinel Islands don't practice free market economics where prices of goods are determined by investment, they operate communist tribal societies were goods produced are shared freely amongst everyone, not distributed at a cost.

Free markets are a numerical based system, not a barter system.
I don't know why a free market can't be barter based. And I don't know why free markets have to have moneyed investments.
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