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2013-03-27 04:45 32582552 Anonymous (ChineseSmileMan_PicFromCMarino.jpg 462x626 113kB)
>thinks their pretend "money" is worth anything
lol at retards who waste time with the bitcoin scam
1 min later 32582574 Anonymous
>>32582552
all money is pretend money.
unless you think dollars have "value souls" or some inherent quality that paper and ink dont have.
1 min later 32582588 Anonymous
inb4
>I made money off of retards that input actual money into mtgox
2 min later 32582600 Anonymous
>>32582574
heres one now
2 min later 32582610 Anonymous
Spoken like a true pleb.
I don't even into bitcoins but all money is imaginary. Your dollars are just as worthless if the US economy collapses. It has no worth.
3 min later 32582632 Anonymous (1363971523684.jpg 1335x1316 794kB)
>>32582552
5 min later 32582663 Anonymous
>mfw I have 120BTC purchased at $32USD
feels goodman
5 min later 32582669 Anonymous
>>32582574
>>32582610
>People on /g/ actually understanding fiat currency
Well I never.
6 min later 32582689 Anonymous
>>32582552
It's hellarious.
I made 2,000 dollars off those retards too. What a bunch of scrubs.
>inb4 hurr buttcoins will hit 200 dollars!
6 min later 32582691 Anonymous
>>32582669
It's a pretty simple concept, which is why I'm shocked that OP doesn't understand.
7 min later 32582697 Anonymous
>>32582600
ill take all your worthless paper money bro
7 min later 32582699 Anonymous (tumblr_ljamlhBCxs1qbu7zq.jpg 300x193 29kB)
>>32582610
>>32582574
atleast it's real currency with a universal and regulated worth, bitcurns not so much
if you want to sink your parents hard earned money into the laughable scheme then by all means go ahead, you're only depriving yourselves of the candy and pokemon cards that your allowance was actually meant for
8 min later 32582727 Anonymous
>>32582552
yes, because mining when they were $3/ea. and selling them at $75/ea. was totally a scam and a mistake when I cashed out at close to $80k. Good to know
8 min later 32582730 Anonymous
>>32582669
>fiat currency
all currency is fiat currency
whether its gold, tulips, or seashells
its the social contract that creates the value, not the thing itself
9 min later 32582734 Anonymous
>>32582699
>implying they weren't all mined
This is literally the only difference. I can't mine dollars.
9 min later 32582745 Anonymous (pagie.jpg 360x240 19kB)
yay im buying bitcoins
9 min later 32582747 Anonymous
>>32582730
Right, if the world collapsed as we know it, things like aluminum would end up being worth more than gold.
10 min later 32582758 Anonymous
>>32582727
get a load of this guy
11 min later 32582772 Anonymous
>>32582758
get a load of this guy who is just jelly he didn't know about BTC until 4chan got ahold of it
12 min later 32582792 totally not a scammer
>>32582727
this gentleman made $80k and you can too! just give me a hundred dollars, your power of attorney, and in return you will get a bunch of magical fun tokens that may or may not exist or be worth anything, and you too will one day have an imaginary fortune!
12 min later 32582794 Anonymous
>gold
>not fiat
>not knowing gold is more common than silver and has far less uses
13 min later 32582809 Anonymous
>>32582772
stop the presses: anon on 4chan claims tall tale as fact
14 min later 32582824 Anonymous (boy-with-down-syndrome.jpg 500x360 56kB)
i got the more bitcoins and made a lots of ton monies from it
14 min later 32582830 Anonymous
>>32582747
even in a precollapse society aluminum has more utility, it just has less value because we are trained to value the disposable consumer good.
thats what an economy is folks.
you arent buying useful shit, you are buying status.
>in b4 communis
14 min later 32582838 Anonymous
>>32582727
where do you reckon did all that money come from? Mining does not add any real value meaning you scammed retards out of as much as $80k. Congrats!
15 min later 32582848 Anonymous
>>32582824
toplel
16 min later 32582874 Anonymous
>>32582792
explain how its a scam? I didnt have to give anyone money except paid a little extra on my electricity bill but back in the day it took less electricity than it does now because you got btc quicker
16 min later 32582882 Anonymous
>>32582838
printing more dollars doesnt add more value either
(nor does mining more gold for the nonindustrial market)
18 min later 32582907 Anonymous
>>32582838
Bitcoins are as real as the money in bank accounts. Basically, its not real. People think it is, and thus it becomes real to them. Just like paper money. It has no real value
20 min later 32582949 Anonymous (mostwealthybitcoinsellerevar.jpg 326x368 102kB)
i too have sold my bitcurrs and made enough money to get this suit from my dad
36 min later 32583254 Anonymous
>>32582907
this.
its like a kid thinking that there is some magical force preventing them from driving on the other side of the road.
its all arbitrary bros.
1 hours later 32583742 Anonymous
>>32582907
>United States Dollar
implemented by the biggest Government in the world, instantly accepted anywhere, accessible to everybody.
>bitcoins
Ridiculously complicated, can't be used anywhere, EVERYBODY is trying to trade it for USD, only accessable to a very niche crowd (currently).
Notice a difference?
1 hours later 32584030 Anonymous
>>32583742
usd buys drugs, bitcoins buys drugs.
notice a similarity?
1 hours later 32584049 Anonymous
>>32584030
I'm not a drug addict.
1 hours later 32584087 Anonymous
>>32584049
>not addicted to drugs
>2013
1 hours later 32584522 Anonymous
>>32584049
could quit anytime you wanted to, huh?
1 hours later 32584546 Anonymous
TRUE BUTTCOIN VALUE UPDATE
27 MARCH 2013, 1:34P EDT
$0.00
END OF UPDATE
1 hours later 32584558 Anonymous
A nigger, a Jew and a grossly obese Mexican walk into a gay bar. They approach a cum-gargling faggot with a 2-inch long, always flaccid penis using a laptop at a table.
"You wanna come back to our place?" the nigger asks the faggot. "You can toss my mexican friend's rancid herpes-and-shit-covered salad and jerk my Jewish friend's wart-and-pimple covered penis while I ram my giant unlubed nigger-cock into your gaping oft-fucked asshole."
"Literally nothing in the world would make me happier," says the faggot. "But first i need to start a lol at retards who waste time with the bitcoin scam thread"
1 hours later 32584587 Anonymous
>>32584558
10/10
1 hours later 32584622 Anonymous
>>32583742
>>32584030
if you guys think drugs is the only thing you can buy with BTC, think again.
bitcoinclassifieds.net
not to mention a lot of vendors are now accepting them as payment.
Also the US didnt start by using dollars. It started with stamps and fractional currency. We no longer use either as payment.
1 hours later 32584673 Anonymous
>>32584558
I think you are the Jew, shilling nothing into pretend something, you know what happened to that guy?
1 hours later 32584682 Anonymous
>>32584622
USD is CURRENT LEGAL TENDER.
The creation, use, and distribution of alternative currencies is ILLEGAL.
Even if you are in other countries you are trafficking illegal currency for US citizens and can be held responsible for that.
NOTHING you buttcoinfags say can change this.
1 hours later 32584685 Anonymous
>>32584622
why the fuck would anyone (*not retarded) purchase something with bitcoins when it would be FAR cheaper to pay in USD?
2 hours later 32584767 Anonymous
>>32584682
>hasn't read section c of the FinCEN guidance legalizing bitcoins
2 hours later 32584777 Anonymous
>>32584682
NONE of that is true. We can use gold and silver to pay for shit too, its not a "legal tender"
>>32584685
because its not always cheaper
2 hours later 32584794 Anonymous
>>32584777
Utah is the only state where gold is legal tender
2 hours later 32584795 Anonymous
sigh*
all money is debt
only the things you have are worth any real amount
http://www.youtube.com/watch?v=mII9 NZ8MMVM
Please watch
2 hours later 32584820 Anonymous
It makes me smile seeing people who are mad because they didn't get into bitcoin quick enough and know they lost out on an insanely easy way to make a shit ton of money
2 hours later 32584823 Anonymous
>>32584777
market of the bitcoin variant is a sad failure compared to real classifieds
2 hours later 32584848 Anonymous
>>32584823
you just have to be smart and wait until the price is stable to buy stuff
2 hours later 32584886 Anonymous
>>32584777
You don't pay for things with gold and silver, dumbshit.
Those are RESOURCES that people buy with money. With LEGAL tender.
There's a goddamn difference.
Seriously, how did you kids ever get through school with zero goddamn basic intelligence?
2 hours later 32584913 Anonymous
>>32584848
That's the problem. No vendors will accept Bitcoins until they're stable, and they won't begin to stabalize until they're accepted anywhere.
2 hours later 32584932 Anonymous
No money or resource has any inherent value.
We give them value by thinking of uses for he resources and being attracted to shiny things.
2 hours later 32584948 Anonymous
>>32584886
how have you gone this far in your life not knowing you can pay for things with gold/silver? Seriously, get out into the world and experience things. I pay with Morgan Silver dollars ($40 of silver) for a tank of gas when I only have my card and MSDs
2 hours later 32584954 Anonymous
artificial currency lelxd
2 hours later 32584974 Anonymous
>>32584913
yep, cus this site doesnt exist, you shouldnt copy/paste it into your "new tab" because it will only reveal a 404 not found message.
2 hours later 32585036 Anonymous
>>32584974
https://www.spendbitcoins.com/place s/
2 hours later 32585118 Anonymous
>>32585036
so your arguments is that there is actually a ton of places they accept bitcoins? well done, anon
2 hours later 32585159 Anonymous
>>32585118
>https://www.spendbitcoins.com/plac es/
its to inform that you can spend them
2 hours later 32585181 Anonymous
I heard someone named "moot" likes bitcoins too.
2 hours later 32585239 Anonymous
these threads remind me of when christians mock scientology for being bat shit crazy
>implying all currencies aren't completely based on the value people believe them to have
"but... muh gold standard"
>implying that gold has inherent value and isn't based on the faith people have in gold
2 hours later 32585325 Anonymous
>>32582574
the value with real money is that it can buy things other than drugs.
2 hours later 32585356 Anonymous
>>32585325
It's okay at least your nvidia card gets sick FPS
2 hours later 32585388 Anonymous
>>32585239
I see another Bitcoiner upset about his currency being mocked. If you weren't invested in this you could see that Bitcoin is no better than casino tokens and hasn't remotely the credibility of value metals
2 hours later 32585422 Anonymous
>>32585239
This reply reminds me of... I don't thnk there is a religious metaphor, actually. Anyway, the point is, MONEY IS NOT BASED ON THE GOLD STANDARD IN MANY PLACES.
The US Dollar isn't, for example. It's based on debt. Money has value because if you trace it back far enough you'll find somebody who is obliged to trade it for some item. The process is started via government issued bonds, so effectively if you take your dollar and trace it back up the line you'll at some point get a bond.
No gold. Anywhere.
2 hours later 32585435 Anonymous
>>32585422
This has only been true for a little more than 40 years. Society worked fine before the 1970s
2 hours later 32585454 Anonymous
>>32585435
yeah, the gold standard worked, but people keep talking about it like that's how things still work. It's quite annoying watching people make fun of other people for misunderstanding basic economics while themselves showing they have effectively no knowledge of economics.
2 hours later 32585496 Anonymous
>>32585325
I have ATI
How do I mine money - how long does it take?
2 hours later 32585511 Anonymous (US_Dollar.jpg 491x319 48kB)
you can actually see when the gold standard ended.
2 hours later 32585513 Anonymous
>>32585454
90% of the fans of bitcoins are fucktards and would be victims of HYIP scams. They only lucked out because bitcoins are actually viable.
Just because you don't see anyone that knows wtf they're talking about doesn't mean there isn't something behind it. That's why I always point out The Economist article to non-morons, it's comprehensive and details bitcoin without the stink of Ron Paul loony bin garbage.
2 hours later 32585555 Anonymous
>>32585325
What are blind people doing on /g/?
2 hours later 32585571 Anonymous
>>32585513
The problem is that people are making the wrong arguments. Bitcoins have value because people agree they do, and they have an enforced artificial scarcity.
There's nothing *wrong* with that. Bitcoins could work, if everyone agreed to them. I highly doubt they will as they have no central authority backing them by their very nature, but in theory there's nothing actually wrong with the idea. Just stop trying to defend it with the gold standard, because that isn't how money works any more.
2 hours later 32585582 Anonymous (WinFast.jpg 640x480 134kB)
>>32582727
>lying on 4chan
LOL
2 hours later 32585600 Anonymous
I just started the software for litecoins and it has been sincronizing the net for two hours... Does it always need to be this way to start mining?
Cause I was planning doing it in the house where I live while studying in another city, in the computers that are there, but they uninstall everything once they are shut down (they start with a fresh installation everytime you turned them on). Is there any way to start mining without that shit?
2 hours later 32585643 Anonymous
>>32585513
Bitcoins aren't even really viable. Some got lucky because it instantly went into a deflationary spiral.
As a long-term currency it has too many problems -- long authentication, deflationary, open to scams and market manipulation.
2 hours later 32585685 Anonymous
>>32584682
Legal tender only means it HAS TO BE accepted.
2 hours later 32585693 Anonymous
>>32585582
>implying people are lying because they are jelly of the story being told
sad, just sad
2 hours later 32585705 Anonymous
>>32585571
The foundation for elimination of the gold standard was largely championed by Keynes. He argued for an international single currency (later championed as a basket of currencies via the IMF). Late in negotiations, United States pretty much forced everyone to use USD and there is an implicit sevurity arrangement wrt the petrodollar.
Arguably this arrangement is at risk as BRIC nations wish to increase their influence in the IMF and increase their currencies' composition in SDRs.
One can make the case that bitcoins ensure US dominance as CIA/NSA maintains crypto expertise tens of years advanced and the computing power to back it up.
2 hours later 32585715 Anonymous (pringlegiraffe.png 659x394 12kB)
>>32585693
Whatever you need to sleep this night, my dear
2 hours later 32585734 Anonymous
>>32585715
>implying I'm lying
idc if you believe me or not, you didnt get into BTC when it was low, I did
2 hours later 32585748 Anonymous
>>32584682
>alternative currencies is ILLEGAL
so if i make a coupon for my place of business im breaking the law?
2 hours later 32585762 Anonymous
>>32585705
thats a lotta conspiracy theorizing there
2 hours later 32585767 Anonymous
>>32585705
I think it's likely obvious to everyone that you're not the type of person I'm talking about, as you clearly know your stuff.
I'm not sure that that lends bitcoins any greater chance of success, though. Without a central authority to ensure they're accepted and backed up, I'm not sure you'll get very many people taking the risk. Especially when the currency itself is so incredibly volatile, it's difficult to make any bets on it right now.
2 hours later 32585783 Anonymous
>>32585685
Actually, it doesn't even have to be accepted. It has to be accepted for a debt, but not for a transaction.
A store does not have to accept USD. This is why, "This store does not accept bills over $20" is perfectly legal. The owner gets to decide what he will trade his product for.
2 hours later 32585792 Anonymous
So, what is it limits the existence of bitcoins that they aren't overproduced? Is there a central "bank" that dictates the number of coins in circulation?
3 hours later 32585801 Anonymous
>>32585571
get your facts right
>enforced artificial scarcity
nope. btc are proofs of work.
read the paper that they are based on.
>no central authority
wrong again.
>that isn't how money works any more
gold currency is still fiat currency.
how else can its value change over time?
3 hours later 32585818 Anonymous
>>32585762
Name a single major development in cryptography after the 1960s that did not involve the NSA.
I bet you think crop circles are just a bunch of bored kids and not actually resolution tests for military satellites and spy planes too.
3 hours later 32585845 Anonymous
>>32585748
i know a mini golf course that trades prizes for little tokens.
will the feds raid them too?
itt retards that think money is magic.
3 hours later 32585879 Anonymous
>>32585801
"enforced artificial scarcity" is not a bad thing. "Real" currencies are enforced artificial scarcity, too. The scarcity in bitcoins is algorithmic, rather than political, so while arguably it's less artificial than regular currencies it was still designed to limit the amount of bitcoins in circulation.
What central authority backs bitcoins up? As in, if they lose their value completely, who is there with the power to ensure that everybody hasn't just lost all their money?
Money changes over time due to people telling you how much money has changed value. Politics.
3 hours later 32585880 Anonymous
>>32585801
actually, there is no central authority, the price is not determined by a central gov't which is what "no central authority" means.
3 hours later 32585924 Anonymous
>>32585792
Theoretical maximum amount of bitcoins is 21 million.
Mining difficulty increases almost exponentially.
3 hours later 32585931 Anonymous
>>32585880
but the price/production is set by the algorithm.
to deviate from that is to make something other than a buttcoin.
if you read the paper you wouldnt sound silly.
3 hours later 32585963 Anonymous
>>32585931
I have read it. the algorithm isnt an authority though
3 hours later 32585998 Anonymous
>>32585963
One man's bug is another man's feature. It'll be interesting to see what happens purely as an experiment either way.
3 hours later 32586005 Anonymous
>>32585879
>Money changes over time due to people telling you how much money has changed value. Politics.
the value of a dollar doesnt live in the paper.
it lives in the heads of buyers and sellers that can decide at any moment that seashells or tulips or plastic money would be a better currency.
value doesnt exist outside the mind. thats why currencies can change over time.
military bases dont use pennies. that isnt because penny magic doesnt work on overseas bases.
its because they *think* that it isnt worth the hassle.
3 hours later 32586025 Anonymous
>>32585963
>the algorithm isnt an authority though
yep the algorithm of addition or division could change any day now.
3 hours later 32586050 Anonymous
>>32586005
Existing currencies do exist outside of the mind, because at some point you can trace them back to somebody who owes somebody something that isn't money. Bitcoins do not have this property.
3 hours later 32586150 Anonymous
>>32586050
you can track the history of every bittcoin as it moves through the economy.
thats how people prove that they have the bittcoins they say they have.
>Existing currencies do exist outside of the mind
yep metal paper and edollars exist.
but their value exists in the mind alone.
imagine i burn a dollar, where does its value go?
3 hours later 32586167 Anonymous
>>32586150
To money heaven.
3 hours later 32586177 Anonymous
>>32586167
This is the only person in this thread that understands the concept of money.
3 hours later 32586183 Anonymous
>>32586150
I have no idea. Where does the value of a bitcoin go if I stick it on a USB drive and throw it in the ocean?
3 hours later 32586184 Anonymous
>>32586167
and when a dollar is cut in half
does we now have 2 dollar souls
or do we have 1 half soul?
these are your implications, defend them.
3 hours later 32586223 Anonymous
>>32586184
Depends. Do you believe in money at conception?
I believe twin dollars imply that money does not have a soul at conception, as that implies twin dollars share the same soul.
3 hours later 32586226 Anonymous
>>32586184
Neither. You dollar is worthless either way, so the value still goes to money heaven.
3 hours later 32586230 Anonymous
>>32586183
>value of a bitcoin go
it never leaves your head.
until everyone agrees that btc was dumb and abondons it.
then the value you created in your mind is reduced, again in your mind.
you can buy a 10 zillion zimbabwean dollar on ebay.
it wasnt that dollars soul that decreased it was its value in the minds of merchants willing to accept it.
3 hours later 32586257 Anonymous
>>32586226
and is there a upper bound on the number of dollar souls?
if they are infinite in supply why bother having to recycle a dollar soul at all?
3 hours later 32586275 Anonymous
>>32586257
Ben Bernanke aka Jesus (the second coming) sets the limit.
3 hours later 32586330 Anonymous
>>32586275
he sets the limit on dollars produced per unit of time, or he sets the limit on the number of dollars that will ever exist?
the second would be much more impressive.
you are know aware of how untenable your position is.
3 hours later 32586350 Anonymous
>>32586275
you can hate the fed.
thats fine.
but dont pretend that money has inherent value.
that makes you seem like a magical thinking hillbilly.
3 hours later 32586384 Anonymous
>>32586350
I was just making a joke with that reply :-(
3 hours later 32586403 Anonymous
>>32586384
sorry bro
poes law makes for some fun exchanges
cheers!
3 hours later 32586449 Anonymous
>>32586384
I'd assume most of the replies in that chain were jokes.
3 hours later 32586602 Anonymous
>>32586150
you get rid of a little piece of debt
3 hours later 32586633 Anonymous
>>32586025
no, it wont, but the bitcoin algorithm does have the ability to change
3 hours later 32586640 Anonymous
>>32586602
expand on your conspiracy theory kind sir.
3 hours later 32586686 Anonymous
>>32586633
an algorithm doesnt change
you just use a different algorithm to create a different result.
an algorithm maps inputs to ouputs.
you dont "change" addition to make 2+2=5.
you just invent a new and useless algorithm.
3 hours later 32586720 Anonymous
>>32585388
I don't have a single bitcoin, nor do I have a single deity. Even if I had, your response offers no arguments beyond ad hominem.
>>32585422
I wasn't implying that money was based on a gold standard any more, but it is often touted as a strategy by the same libertarian economists that like the concept of the bitcoin.
all modern currency is based on belief in its value, not on any intrinsic value, when it comes down to it the only currency that could have intrinsic value would be on based on water, food, land etc, even energy isn't intrinsically valuable.
3 hours later 32586777 Anonymous
>>32586640
you serious? it says right on all the dollar bills "This note is legal tender for all debts, public and private" "debts" being the main idea behind it..
>>32586686
if you're not the one setting it up, as a user, it simply changes. Bitcoins have the ability to be changed to a stronger algorithm.
3 hours later 32586955 Anonymous
>>32586777
>you serious? it says right on all the dollar bills "This note is legal tender for all debts, public and private" "debts" being the main idea behind it.
that doesnt magically do anything.
the other day ago i pissed in a urinal with a "out of order" sign in front of it.
the sign made a suggestion and i disagreed with it.
coupons are accepted as currency at the grocery store. are they blessed by the fed too?
im having a hard time understanding what you are even claiming.
could you sum up your arguments for me?
maybe im misunderstanding you.
4 hours later 32587270 Anonymous
>>32586955
>coupons are accepted as currency
no they arent, they are worth 1/100- 1/1000 of a cent. You still have to pay money when you use coupons
paper money is used in a debt system, meaning our dollar bills are an IOU we can give eachother for items we get. If you burn a dollar, even on a tiny scale, you are impacting what it is worth in other countries because we have one less dollar. It doesn't make any sense but name one thing the gov't does that DOES make sense
4 hours later 32587374 Anonymous
Buttcoins
>backed by proof of work and tangible material cost
Paper money
>That's totally worth like, 3 apples man, trust us.
4 hours later 32587448 Anonymous
>>32587270
>they are worth 1/100- 1/1000 of a cent
then they have a value, thats what a currency is.
pennies are still money even if they are bitch to hail around.
>debt system
youre describing credit cards mate.
fyi credit card companies create money out of thin air.
(which would end if we moved to a gold-backed dollar)
>IOUs
nope.
when i buy anything (with cash) im leveraging past work, not future work.
my job payed me for past work.
>name one thing the gov't does that DOES make sense
and now youve gone and signalled your crank status.
ive been willing to entertain your arguments but this is just like slapping a tinfoil hat on.
you dont expect to be taken serious with talk like this.
figure out what your goals are and how to best achieve them.
4 hours later 32587577 Anonymous
>>32587448
I'm done with you. everything you've just said is incorrect and I can't help you.
If you don't know anything about bitcoins or currency in general, dont join a bitcoin thread
4 hours later 32587602 Anonymous
>>32587448
>(which would end if we moved to a gold-backed dollar)
you can make money out of thin air on a gold backed currency too, it's called fractional reserve banking, there's always more dockets for gold than there is actual gold, you basically just get to pick your poison of how many more times there are claims on existing gold than there is gold in the reserve.
(im not the guy you were talking to so I'm not addressing other points)
4 hours later 32587691 Anonymous
>>32587602
thats a fine point.
also lets consider that the total amount of work (however we care to define that) that happens in an economy is likely to grow over time.
is there any way to peg a currency not to some arbitrary resource like gold, but to the amount of actual useful work done?
would such a system not incentivize not just on the personal level
>i want more money
but also on the collective level
>everyones spending power increases when we get shit done
what would such a system look like?
4 hours later 32587851 Anonymous
>>32587577
dont tell me im wrong, show me how im wrong bro.
i extended you that much.
4 hours later 32587878 Anonymous
>>32587691
Bitcoins stored in central banks. Most people continue to use their nations' currency as they are taxed in that currency. Increasing use of bitcoins for international transactions by individual internet users and multinationals alike.
Gold deprecated for monster cable use only.
4 hours later 32587905 Anonymous (barack-obama-muslim-retard1.jpg 300x356 32kB)
Fuck you racist gaijin!! And that dude isn't japanese mother fucker.
4 hours later 32587941 Anonymous
bitcoins are valuable because of their properties
i can pay for anything around the world and not have to worry about fees or chargebacks
if people think they're worth money, they're worth money, whether you can hold them in your hand or not
people seem to think they're worth money, so there you go
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