BITCOIN TOTALLY SCREWED..GET OUT NOW!!!

Everfresh

EOG Senior Member
Howdy all

Been tied up in a domestic dispute that unfortunately got legal all of a sudden but I'm "out" now, bitch don't have shit on me

Bitcoin scam gets even more clear, off THOUSANDS over last year....heading for ZERO or close to it

'Fresher's advice, GET OUT NOW!!!!
 

Everfresh

EOG Senior Member
So BTC now trading at $4600 as of this morning, or a staggering 25% of where it was this time last Dec. I HOPE THAT NONE OF YOU WERE DUMB ENOUGH TO FALL FOR THIS SCAM

This turd is going to the BOTTOM OF THE CLOGGED TOILET
 

andyfezzik

EOG Addicted
It's funny how everyone is a fanboy at $20k per BTC, the absolute WORST time to buy Bitcoin, but once it drops to a reasonable valuation, like now, everyone is like SELL SELL SELL. Now is when you want to be buying. Granted, you won't time the perfect bottom but you're buying in near a China mining breakeven point which is about as cheap as BTC ever gets.
 

Dell Dude

EOG Master
Nice call on 20K being a bad buy, little Fezzy. Next time can you tell us a earlier so we can pull our bets?
 

winkyduck

TYVM Morgan William!!!
So BTC now trading at $4600 as of this morning, or a staggering 25% of where it was this time last Dec. I HOPE THAT NONE OF YOU WERE DUMB ENOUGH TO FALL FOR THIS SCAM

This turd is going to the BOTTOM OF THE CLOGGED TOILET

NOT ME! I never altered my stance that this is a PONZI SCHEME and so far nothing I have seen shows I am wrong. Those who got in early - made money. Those who got in late are losing their ass

WHICH IS THE DEFINITION OF A PONZI SCHEME!
 

Dell Dude

EOG Master
Winky is right. Not a pure Ponzi since bitcoins exist but the same fundamentals. Could go to a million or 0 based solely on price manipulation.
 

cheapseats

EOG Master
The US dollar, Euro or Japan Yen, etc trade against many variables. Not BTC, it has no counter to balance the trade beyond it's going up or down. Intrinsic value as a result is not the same. The only thing BTC has is demand or lack thereof, mining keeps supply in line so it's just a game of whales able to manipulate the BTC.
 

andyfezzik

EOG Addicted
The US dollar, Euro or Japan Yen, etc trade against many variables. Not BTC, it has no counter to balance the trade beyond it's going up or down. Intrinsic value as a result is not the same. The only thing BTC has is demand or lack thereof, mining keeps supply in line so it's just a game of whales able to manipulate the BTC.

That's not necessarily a good thing for the dollar. You have a lot of added risk v/ Bitcoin. For example, the US Treasury could decide to mint dollars in nearly limitless quantity to pay off the national debt, and fund government works. That would be massively dilutive. Trump could also run off and do something asinine, at just about any moment, that would tank the value of the dollar. And the dollar has the same demand risk as Bitcoin. If confidence drops in the US, international demand wanes, and it loses reserve currency status, all possible, it would tank. If we look at the full life of Bitcoin, from 2009 through present, it has been extremely volatile, yes, but it has also vastly outperformed fiat currencies. Unlike fiat, the mining rate and the maximum number of Bitcoins is controlled by an algorithm not by the whims of bureaucrats or potentially unstable leaders. And Bitcoin transactions are cryptographically guaranteed, and accounts are cryptographically protected. Dollars are not - they can easily be seized, and transactions can be reversed.
 

Everfresh

EOG Senior Member
The reality is, ~Bitcoin is a complete scam always has been always will be. As for me I sold my substantial holdings in Dec 2017 and a considerable profit, but of couse I saw the scam coming and "never give a sucker an even break"
 

Sportsrmylife

EOG Master
I believe that bitcoin will be a worldwide currency once banks and the world leading countries can figure out a way to get their taste of the money.
 

Everfresh

EOG Senior Member
Holy fuck, I knew the Bitcoin ponzi was going to blow up soon, just had no idea it would be this quick

Price is off a STAGGERING 85% since Dec 2017 highs, Hope no one on here got sucked into this scam

$3,527.31
BITCOIN PRICE

−$2,889.49
SINCE LAST MONTH (USD)

−45.03%
SINCE LAST MONTH (%)
 
I don't get why it has any value whatsoever.

Before paper money came to be, money had intrinsic value based on it's metal content, at least to the point of having some metal value.fluctations in metal prices were a problem, but it was all based on the value of copper, silver ,and gold.
The first deviation from that came in 1857 when the cent was reduced to it's current size. It used to be almost as big as a half dollar, they finally said fuck carrying these things around that have little value even then, but silver remained until 1964.

Now US money is based on trust but at least has history behind it.

Nickels still have metal value to a large extent.

Did the creator of Bitcoin make a fortune ?
 

yisman

EOG Master
it's worth something because the market says so

the US dollar is a piece of paper that isn't worth anything.


The gold standard was abolished long ago.

If you hold bitcoin, you run the risk that it could become worthless, but that's true of any currency.


A loaf of bread cost millions of marks in Germany with the hyperinflation. The same could happen with the dollar.
 

Sol Diablo

House of Heat
it's worth something because the market says so

the US dollar is a piece of paper that isn't worth anything.


The gold standard was abolished long ago.

If you hold bitcoin, you run the risk that it could become worthless, but that's true of any currency.


A loaf of bread cost millions of marks in Germany with the hyperinflation. The same could happen with the dollar.

Yup. A wise man once said, something is only worth what someone is willing to pay for it.
 

mr merlin

EOG Master
Beanie babies were worth something until they weren't, it'll take awhile but bitcoin will be single digits again.

There was a time when individual cities and states had their own money, it didn't work out.
 
it's worth something because the market says so

the US dollar is a piece of paper that isn't worth anything.


The gold standard was abolished long ago.

If you hold bitcoin, you run the risk that it could become worthless, but that's true of any currency.

Not entirely true, USD has history behind it unlike Bitcoin.

It lacks intrinsic value except for nickels but does have a token metallic value in other coins.

Gold coins were current until 1933, and the silver until 1964, copper lasted until 1982.

The first US coins were minted in 1793.

I like that history better than Bitcoin.

Minimum wage was 25 cents an hour in 1938 when established.

So a low wage employee would make like 2 silver dollars a day, worth about
$45 or so today, but minimum wage has caught up to a better level
 
Beanie babies were worth something until they weren't, it'll take awhile but bitcoin will be single digits again.

There was a time when individual cities and states had their own money, it didn't work out.

I would love to hear your thoughts on cities and states issuing money,

A pm would be great

I consider myself to be somewhat of an expert on US coins and kind of knowledge on US history in general

I would like to hear about state and city coinage
I would be aware of that, unless you are talked about something exotic like NYC transit tokens or other exonimia.
 

mr merlin

EOG Master
1544241599487.png
One by one, colonies began to issue their own paper money to serve as a convenient medium of exchange. In 1690, the Province of Massachusetts Bay created "the first authorized paper money issued by any government in the Western World."[3] This paper money was issued to pay for a military expedition during King William's War. Other colonies followed the example of Massachusetts Bay by issuing their own paper currency in subsequent military conflicts.[3]
The paper bills issued by the colonies were known as "bills of credit." Bills of credit were usually fiat money: they could not be exchanged for a fixed amount of gold or silver coins upon demand.[2][4] Bills of credit were usually issued by colonial governments to pay debts. The governments would then retire the currency by accepting the bills for payment of taxes. When colonial governments issued too many bills of credit or failed to tax them out of circulation, inflation resulted. This happened especially in New England and the southern colonies, which, unlike the Middle Colonies, were frequently at war.[4] Pennsylvania, however, was responsible in not issuing too much currency and it remains a prime example in history as a successful government-managed monetary system. Pennsylvania's paper currency, secured by land, was said to have generally maintained its value against gold from 1723 until the Revolution broke out in 1775.
 

yisman

EOG Master
Doug I posted about dollar bills in comparison to bitcoin. Neither is worth anything.

Your stuff about coins is not relevant
 
Yes and a penny is worth about 1.2 cents

A dollar bill is worthless

Not quite correct.

A copper cent minted before 1982 has a theoretical metallic content in l
excess of face value
A dollar bill or hundred dollar bill is a gram of scrap paper
 

yisman

EOG Master
What I said is correct.

A penny has a value greater than one cent.

A dollar bill had the same intrinsic value as a bitcoin. A gram of scrap paper has zero value on the market.
 

Everfresh

EOG Senior Member
I really did my best to warn people of the bitcoin ponzi as it heated up. Now that it's crashing and on its way to becoming TOTALLY WORTHLESS INA MATER OF WEEKS
it's tempting to say "I told u so" but of course those that know me well know that that just isn't my style at all
 

mr merlin

EOG Master
I really did my best to warn people of the bitcoin ponzi as it heated up. Now that it's crashing and on its way to becoming TOTALLY WORTHLESS INA MATER OF WEEKS
it's tempting to say "I told u so" but of course those that know me well know that that just isn't my style at all
Probably not in weeks or months, but 10 years from now people will look back and say "what in the hell were we thinking"?
 
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