University chair of Economics says Big Government will crush Bitcoin

a reply to: nOraKat

It is tangible. It exists even though you cannot hold it.

Tangible

Tangible asset

originally posted by: intrptr

originally posted by: EternalShadow

originally posted by: intrptr
a reply to: nOraKat

Big governments cannot tolerate Bitcoin, the digital currency that threatens to break their monopoly on printing money, and to manipulate the economy to accommodate the interests of powerful elites.

Big Banks are behind the FED. They hide in plain sight pretending to be the gubment. The Federal Reserve is not theFederal Gubment. Its a private banking conglomerate.

The banks can't stand any currency they don't issue.

Neither can the US Constitution.

Whats that supposed to mean?

The Congress shall have Power To...coin Money, regulate the Value thereof, and of foreign Coin....

ARTICLE I, SECTION 8, CLAUSE 5

That was included in the Constitution to protect US from the banksters and their Fiat currencies. Fiat as in, legal tender, receipts, promissory notes, anything that is not backed by precious metal or other commodity.

As in paper, or electronic money, having no intrinsic value other than what they tell us and we believe it has.

And a crypto currency solely based in a virtual world is better how?

Yawn.

ETA: How much is one unit of crypto currency worth? Where does it derive its value from?

Again...

Yawn.

a reply to: intrptr

A tangible asset is an asset that has a physical form.

It has a physical form just how software or a graphic design has a physical form.

a reply to: EternalShadow

It is better because it is not managed by any party. The creation of more money is not under anyone's control.

originally posted by: EternalShadow

originally posted by: intrptr

originally posted by: EternalShadow

originally posted by: intrptr
a reply to: nOraKat

Big governments cannot tolerate Bitcoin, the digital currency that threatens to break their monopoly on printing money, and to manipulate the economy to accommodate the interests of powerful elites.

Big Banks are behind the FED. They hide in plain sight pretending to be the gubment. The Federal Reserve is not theFederal Gubment. Its a private banking conglomerate.

The banks can't stand any currency they don't issue.

Neither can the US Constitution.

Whats that supposed to mean?

The Congress shall have Power To...coin Money, regulate the Value thereof, and of foreign Coin....

ARTICLE I, SECTION 8, CLAUSE 5

That was included in the Constitution to protect US from the banksters and their Fiat currencies. Fiat as in, legal tender, receipts, promissory notes, anything that is not backed by precious metal or other commodity.

As in paper, or electronic money, having no intrinsic value other than what they tell us and we believe it has.

And a crypto currency solely based in a virtual world is better how?

Yawn.

ETA: How much is one unit of crypto currency worth? Where does it derive its value from?

Again...

Yawn.

Yawn. Thats why they call it "Crypto", it isn't tangible. You can't hold it in your hand, like gold or real estate.

Imagine owning crypto land? Imagine trading crypto anything off the internet?

originally posted by: nOraKat
a reply to: intrptr

A tangible asset is an asset that has a physical form.

It has a physical form just how software or a graphic design has a physical form.

Can't be traded off the internet. Thats the most amazing thing about todays generations, they believe anything they are told, without any proof.

I get the feeling some folks here don't understand the technical fundamentals of these projects. If you're interested, take a look at this: mycrypto.guide...

a reply to: intrptr

Yeah, it can be traded by writing a key on a piece of paper, or a coin with the key. However it would require trust in the issuer that he does not redeem it before you do. (The same way if somebody wrote a check, the deposited funds are not withdrawn before the person tries to cash the check.)

a reply to: intrptr

Money is nothing more than a symbol. Even with "hard currency" its value is based on the market. You can't eat a dollar (well, you can but...), you can't eat gold and you can't eat bitcoin. But you can buy stuff with all of them.

Which is what the concept of money is all about. A more or less arbitrary symbol which facilitates trade.

Beats dragging a pile of beaver skins around.

originally posted by: Phage
a reply to: intrptr

Money is nothing more than a symbol. Even with "hard currency" its value is based on the market. You can't eat a dollar (well, you can but...), you can't eat gold and you can't eat bitcoin. But you can buy stuff with all of them.

Which is what the concept of money is all about. A more or less arbitrary symbol which facilitates trade.

Beats dragging a pile of beaver skins around.

Beaver Pelts, not "skins". Worth about 80 bucks.

It would take almost twenty to equal the value of one ounce of gold.

You're right , would rather trade in the pelts and lug 'all that gold' around, instead.

"Money" wasn't explicitly defined in the constitution, they understood the only real money was 'coined". Everything else was paper, nothing but a promise.

Here, let us hold your gold, we'll give you a receipt. Much lighter.

Money is nothing more than a symbol.

The world turns on metals. Gold and silver aren't symbolic.

Pre 64 US silver coins are currently trading for twelve times face value.

That is, a silver 'dollar' is worth twelve dollars, melt value.

A twenty dollar gold eagle is worth @1400 again, melt value.

Worth much more to collectors. But really its just an ounce of gold. Only one ounce... of... gold.

Wats a paper dollar worth? About 3 cents.

a reply to: nOraKat

(The same way if somebody wrote a check, the deposited funds are not withdrawn before the person tries to cash the check.)

Ever sold at a flea market? Taken a check for something?

China to Shut Bitcoin Exchanges

Like mentioned in the articles / videos - governments will use the excuse that it can be used for criminal activity to shut it down.

originally posted by: intrptr

originally posted by: Phage
a reply to: intrptr

Money is nothing more than a symbol. Even with "hard currency" its value is based on the market. You can't eat a dollar (well, you can but...), you can't eat gold and you can't eat bitcoin. But you can buy stuff with all of them.

Which is what the concept of money is all about. A more or less arbitrary symbol which facilitates trade.

Beats dragging a pile of beaver skins around.

Beaver Pelts, not "skins". Worth about 80 bucks.

It would take almost twenty to equal the value of one ounce of gold.

You're right , would rather trade in the pelts and lug 'all that gold' around, instead.

"Money" wasn't explicitly defined in the constitution, they understood the only real money was 'coined". Everything else was paper, nothing but a promise.

Here, let us hold your gold, we'll give you a receipt. Much lighter.

Money is nothing more than a symbol.

The world turns on metals. Gold and silver aren't symbolic.

Pre 64 US silver coins are currently trading for twelve times face value.

That is, a silver 'dollar' is worth twelve dollars, melt value.

A twenty dollar gold eagle is worth @1400 again, melt value.

Worth much more to collectors. But really its just an ounce of gold. Only one ounce... of... gold.

Wats a paper dollar worth? About 3 cents.

Gold doesn't make a currency any more real. Gold is just a metal that is neither the rarest nor the most useful

The price if gold is driven largely by speculation (much like bitcoin but at least with a degree of real value) .

A paper dollar is worth a dollar. The value of what it's physical token form is made from is largely irrelevant as it can be changed at any time.

a reply to: ScepticScot

Gold doesn't make a currency any more real. Gold is just a metal that is neither the rarest nor the most useful

On both counts that is so ignorant I'm not even going to try and explain it to you.

The Gov. crushes everything eventually. It's part of the reason the Internet is slowly being regulated. Like slow boiling a frog.

Anything that can bring the people freedom the government eventually squashes.

originally posted by: intrptr
a reply to: ScepticScot

Gold doesn't make a currency any more real. Gold is just a metal that is neither the rarest nor the most useful

On both counts that is so ignorant I'm not even going to try and explain it to you.

If you can't explain it, it's pretty clear where the ignorance is.

The big problem with bitcoin and other cryptocurrency is that they can cross borders without checks and hide from the law.

The drug cartels are starting to use bitcoin to take there profits out of the US instead of suitcases of cash that can be caught at the border. Ransomware hackers have long used bitcoin to get there ransom so that governments can not track the ransom payoffs.
In the long run criminal use of cryptocurrency will force governments to tighten down on its use.
And it may even cause the cryptocurrency companies to face lawsuits by victims of crimes using cryptocurrency.

a reply to: ANNED

The problem with it is that the gov hates competition.