Bit coins

[Andrew]

Who is pushing this?
From what I know its dirty dirty money, created from the dark web for buying black market items and sex trade, child porn drugs and guns. Are people really serious about this??
Getting closer and closer to a cashless society.

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[tango]

Anything that's mostly anonymous is going to be appealing to people involved in shady activities.

Bitcoin is potentially also useful for international transactions in that it cuts out the middlemen who offer little value but still insist on taking a generous cut of every transaction. It's also appealing to people who don't trust governments to manage national currencies (and there are many reasons to distrust national governments).

Whether bitcoin will prove to be a useful hedge against financial collapse remains to be seen as it has never really been tested. It's also something of a speculative product and, having risen from about $1,000 at the beginning of 2017 to nearly $20,000 later in the year it's easy to see why people want a piece of the action. What doesn't help is that some analysts believe it could hit $100,000 or higher while others say it will collapse to zero sooner or later. (Personally I think it's too speculative to put any meaningful cash into it, even if that does mean I miss out on further potential gains).

I wouldn't say it's specifically dirty money pushing it, any more than I'd say dirty money pushes cash. It's just that people doing shady deals don't want to be traced and it's easier to transfer $1m worth of Bitcoin than it is to haul a stack of $100s around with you. As soon as the concept of "used, low denomination notes" comes into play then $1m in cash is the sort of thing it takes a suitcase to haul around, whereas $1m in Bitcoin could be sitting on a microSD card.

 

[Imalive]

I kept getting emails that I had to take my bitcoins. Never ordered any. Thought it was spam.

 

[Lamb]

I don't have any bit coin investments and I don't see myself taking that chance any time soon either. If you like doing investments for entertainment and have money to lose then it's not a big deal. But how many of us have that luxury?

 

[Andrew]

I don't have any bit coin investments and I don't see myself taking that chance any time soon either. If you like doing investments for entertainment and have money to lose then it's not a big deal. But how many of us have that luxury?

So people invest in this? To dislodge from the government? I knew what it was a while back before all the craze but its all over the place, even here with tapatalk and on facebook

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[NewCreation435]

I must be living in a cave. I have no idea what your talking about.

 

[Andrew]

I must be living in a cave. I have no idea what your talking about.

People are buying super mario brothers coins to overthrow the banks and destroy the government

 

[NewCreation435]

People are buying super mario brothers coins to overthrow the banks and destroy the government

I'm betting that Trump beats them to it

 

[Andrew]

I'm betting that Trump beats them to it

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[tango]

So people invest in this? To dislodge from the government? I knew what it was a while back before all the craze but its all over the place, even here with tapatalk and on facebook

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As with many investments people invest for a variety of reasons. Some people are speculating, merely hoping the price continues to rise. Some people are seeking to hide their financial activity from government. I'm sure some people use bitcoin and other cryptocurrencies to simply ease cross-border transactions. Still others are using it for a variety of nefarious purposes.

 

[Andrew]

As with many investments people invest for a variety of reasons. Some people are speculating, merely hoping the price continues to rise. Some people are seeking to hide their financial activity from government. I'm sure some people use bitcoin and other cryptocurrencies to simply ease cross-border transactions. Still others are using it for a variety of nefarious purposes.

The problem is that Bitcoin has been programmed to a certain amount and its practically government proof. Major changes in the world if this succeeds.


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[tango]

The problem is that Bitcoin has been programmed to a certain amount and its practically government proof. Major changes in the world if this succeeds.


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Potentially major changes. One potential issue with bitcoin is the question of how one continues to trade them if the government decides to crack down hard on them. They have also been vulnerable to being hacked in the past, and every once in a while comes a story of someone who throws away an old hard drive only to later remember (once it's long since been tossed into a big hole in the ground) that the drive contained some silly amount of money in bitcoin.

In many ways precious metals do much of what bitcoin does but have been proven to stand the test of time. The downsides of precious metals is that they take up a lot more space (particularly silver, less so gold), aren't very good for international transactions, and can't be traded in fully continuous quantities. If you want to buy something that's about $1300 you might use a 1-oz gold coin; something that's about $15 might be traded for a 1-oz silver coin (and likewise something for $4 might trade for a 1/4-oz silver coin) but if you want to trade more precisely it's not practical to trade something for 0.518273 ounces of silver. With bitcoin you can do that sort of thing.

 

[Andrew]

Potentially major changes. One potential issue with bitcoin is the question of how one continues to trade them if the government decides to crack down hard on them. They have also been vulnerable to being hacked in the past, and every once in a while comes a story of someone who throws away an old hard drive only to later remember (once it's long since been tossed into a big hole in the ground) that the drive contained some silly amount of money in bitcoin.

In many ways precious metals do much of what bitcoin does but have been proven to stand the test of time. The downsides of precious metals is that they take up a lot more space (particularly silver, less so gold), aren't very good for international transactions, and can't be traded in fully continuous quantities. If you want to buy something that's about $1300 you might use a 1-oz gold coin; something that's about $15 might be traded for a 1-oz silver coin (and likewise something for $4 might trade for a 1/4-oz silver coin) but if you want to trade more precisely it's not practical to trade something for 0.518273 ounces of silver. With bitcoin you can do that sort of thing.

Well the government has been trying to gain control of the internet but they are outnumbered by the public and even the FBI have trouble cracking down the dark web, I heard a statistic that said the internet is over half made up of the dark/deep web where bitcoins rose out of.
Digital money entered in after the gold standard was dropped and it actually boosted the economy so who knows whats next

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[Andrew]

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[tango]

Well the government has been trying to gain control of the internet but they are outnumbered by the public and even the FBI have trouble cracking down the dark web, I heard a statistic that said the internet is over half made up of the dark/deep web where bitcoins rose out of.
Digital money entered in after the gold standard was dropped and it actually boosted the economy so who knows whats next

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Governments are constantly trying to control what the people do. Many governments truly seem to think they have any control over what people in other countries do while in those countries.

The thing is that even if it is not technically possible for the government to control something like bitcoin the chances are the pronouncement from the capital that bitcoin is now illegal would most likely be enough to stamp out 90% or more of bitcoin transactions within that country. Lots of people may talk a good game about how they would ignore such a rule but the chances are none of those people would traffic things that are currently illegal.

The gold standard pretty much ended in 1971 when Nixon closed the gold window at the Federal Reserve. Since the US dollar isn't pegged to anything except "the full faith and credit of the United States government" (in other words, nothing at all) it has collapsed against gold in the last 46 years - where in 1971 $1 would buy approximately 1/34oz of gold it will now buy more like 1/1200oz.

Many things boost the economy if they make people feel wealthier. If you feel rich you're more likely to spend money. If you actually turn a real profit (in other words you sold out of your position and have a lot more currency than you started with) you're more likely to spend it on something. The trouble is when people have an unrealised profit the boost to the economy is short-lived, as those unrealised gains can still be wiped out. Hence the old proverb "don't count your chickens until they hatch" and the trading proverb "don't count your money while it's still on the table".

 

[Andrew]

Governments are constantly trying to control what the people do. Many governments truly seem to think they have any control over what people in other countries do while in those countries.

The thing is that even if it is not technically possible for the government to control something like bitcoin the chances are the pronouncement from the capital that bitcoin is now illegal would most likely be enough to stamp out 90% or more of bitcoin transactions within that country. Lots of people may talk a good game about how they would ignore such a rule but the chances are none of those people would traffic things that are currently illegal.

The gold standard pretty much ended in 1971 when Nixon closed the gold window at the Federal Reserve. Since the US dollar isn't pegged to anything except "the full faith and credit of the United States government" (in other words, nothing at all) it has collapsed against gold in the last 46 years - where in 1971 $1 would buy approximately 1/34oz of gold it will now buy more like 1/1200oz.

Many things boost the economy if they make people feel wealthier. If you feel rich you're more likely to spend money. If you actually turn a real profit (in other words you sold out of your position and have a lot more currency than you started with) you're more likely to spend it on something. The trouble is when people have an unrealised profit the boost to the economy is short-lived, as those unrealised gains can still be wiped out. Hence the old proverb "don't count your chickens until they hatch" and the trading proverb "don't count your money while it's still on the table".

My goodness it's getting worse! Imposition of the Mark of the Beast!!! lol

Buy? Sell?? [MENTION=216]Stravinsk[/MENTION] help me!

 

[Stravinsk]

Huh? What makes you think I can assist you? I don't currently trade anything on the world markets.

As for the mark of the Beast, for some time I have strongly leaned towards the idea that it is not a future thing - as if one generation is going to be put towards the ultimate test, while all the rest get a free pass, but rather that it has been with us for a very long time, unrecognized.

 

[Andrew]

Huh? What makes you think I can assist you? I don't currently trade anything on the world markets.

As for the mark of the Beast, for some time I have strongly leaned towards the idea that it is not a future thing - as if one generation is going to be put towards the ultimate test, while all the rest get a free pass, but rather that it has been with us for a very long time, unrecognized.

So is the whole no buy no sell revelation irrelevant then? It can't happen in one particular generation because its not fair to that generation? :/

I figured you might assure me that I'm not alone in noticing overwhelming bitcoin ads left and right, its not an official mark but its something I constantly find myself navigating away from on a daily basis. Thought perhaps you found it an interesting suspicion but nevermind lol
Did you see the other 2 photos I screen snapped in this thread?
It's insane and its all over morning radio stations too, I dont invest in anything but this looks like another step towards deep and treacherous waters...

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[Stravinsk]

So is the whole no buy no sell revelation irrelevant then? It can't happen in one particular generation because its not fair to that generation? :/

On the contrary, I believe it's completely relevant and most Christians (including myself up until some years ago) speculated on this or that electronic tagging system, cashless society etc. While I think that the super rich would like to implement a system (which we should always fight) that is completely credit/debit without the use of coin/cash at all, I do not believe this possible future slavery scenario is the mark of the beast.

There are may clues in the bible. The one that I was thinking of today was the parable of the 10 virgins. And that is honestly all I'd like to say on the matter at this point.

 

[Andrew]

On the contrary, I believe it's completely relevant and most Christians (including myself up until some years ago) speculated on this or that electronic tagging system, cashless society etc. While I think that the super rich would like to implement a system (which we should always fight) that is completely credit/debit without the use of coin/cash at all, I do not believe this possible future slavery scenario is the mark of the beast.

There are may clues in the bible. The one that I was thinking of today was the parable of the 10 virgins. And that is honestly all I'd like to say on the matter at this point.

I like that, the wise and the unwise, preparation and foolishness especially for evangelicals who push the rapture to stand guard yet we should stand guard always anyways. Bravo Stravinsk, its a breath of fresh air to hear some understanding of that particular part of revelation that says "here is wisdom, let he who hath understanding...."
I came to the same understanding as you after a temporary obsession of trying to figure out the 'riddle' of the mark. I came to the conclusion that you either have that stupid mark or the mark of God on your forehead, and for that I am thankful.
Like you said we should not be ignorant into slavery, the real slavery is bondage which people are enslaved to since the get-go with no conviction of even knowing, as Christians we can calmly approach any global threat with ease as long as we are here "we're here! he's near! get over it" lol

Money is a man made creation but the love of it is idolatry and evil, the economy means absolutely nothing to the super wealthy anyway so I seriously doubt that beyond the living in temporary luxury they give any squats about the welfare of the rest and likewise couldnt be interested in any eventual long term ruin.



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