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Comment: Re:Judo (Score 1) 692 692

by Ambiguous Coward (#43475815) Attached to: Steve Forbes: Bitcoin Not Money

Here, let me lay out the "analysis" in question for you:

1) The economy is like martial arts! Right? Right? Guys?
2) Let's assume Forbes invested a bunch of money in bitcoins.
3) Forbes is trying to use reverse psychology to get you to invest in bitcoins!
4) Therefore, Forbes thinks bitcoins are moneymoneymoney!

How is that not for or against bitcoin? The conspiracy theory laid out in the OP is the sort of self-dellusional thing hardcore bit coiners come up with all the time. "It's not a bubble!" *pop* "Okay, but this time, it's really not a bubble!" *pop* "Okay, but next time, it REALLY WON'T BE A BUBBLE!" It's like they're missing whatever part of the brain results in cognitive dissonance.

Comment: Re:Judo (Score 2) 692 692

by Ambiguous Coward (#43472161) Attached to: Steve Forbes: Bitcoin Not Money

That is some seriously inane bullshit there. I realize that in your fantasy world bitcoin is going to be a huge success and all that money you sunk into this at best zero-sum game/ponzi scheme is going to be worth millions, but back here in reality, we're all laughing at your antics. Look at me go: ha.

Comment: Re:*POP* (Score 1) 312 312

Of course I meant "worth" as in "current cash-out value." The OP was suggesting mining only when the cash-out value is high enough, but that could only even possibly work if they cash out IMMEDIATELY upon getting any amount of coin. Otherwise, they risk holding on to their funbux based on the assumption that they can cash them out at X amount, and then X suddenly drops well below their "we shouldn't have been mining" threshold, which is incidentally calculated in USD because that's what the power company et al. takes, having no interest whatsoever in a highly volatile, deflationary currency.

Bitcoin is, quite literally, a ponzi scheme. The only way to win is not to play.

Comment: Re:They don't get it (Score 3, Funny) 439 439

by Ambiguous Coward (#43249891) Attached to: Bitcoin To Be Regulated Under US Money Laundering Laws

We don't need fiat USD. We can purchase the ever growing number of products&services with BTC without the use of USD

Haha, yes, I've seen the videos. "Watch me buy gas with bitcoins!" *transfers bitcoins to friend, waits 20 minutes, friend buys gas with USD*

"Even if you're on the right track, you'll get run over if you just sit there." -- Will Rogers

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