Posted on 07/15/2018 1:24:17 PM PDT by OddLane
No wonder my listeners demanded this episode. Saifedean Ammous takes an economic perspective informed by the Austrian School and applies it to Bitcoin and why it matters. He discusses the various roles Bitcoin can play, and parries common objections. (We also take an animated detour into the BCH/BTC discussion, for those of you interested.)
Not bothering to read/watch. Bitcoin is dead and used to launder money, pay for illegal activities and products, and avoid taxes. It is also home to its own cottage industry of scams and schemes.
Yep, and regards Bitcoin, hasn’t half its value been stolen at one time or another? Mt. Gox, Silk Road, and so many more...
The swami professor guy is based in Florida, where we all know old-age preying hucksters are never allowed to open up shop.
I don't know what you mean by dead. In 2010 you could buy Bitcoin for $13. Today one Bitcoin costs over $6300. And all forms of money are used to pay for illegal activities.
What's wrong with avoiding taxes?
It is also home to its own cottage industry of scams and schemes.
"It" isn't "home" to anything. Bitcoin is just a distributed ledger by which cooperating individuals store wealth.
This video a good layman's explanation for what bitcoin is, and how it works.
Anyone interested in the concept of hard money should learn about it.
So, you advocate and use it to evade taxes? Tax evasion is a crime. Odd to see someone openly admit and promote criminal behavior on FR.
BTTT.
“Today one Bitcoin costs over $6300. “
Last year it was $20,000!
I'm not even a Bitcoin evangelist, but it astounds me how much energy critics put into attacking it instead of the central banking which has destroyed our currency, eroded savings, and retarded economic growth for the past half century.
“It” isn’t “home” to anything. Bitcoin is just a distributed ledger by which cooperating individuals store wealth. “
And guess who owns the first few million bitcoins!
Ignore the detractors. They’re idiots.
It may be likely that Bitcoin will be nothing more than roadkill along the Blockchain highway.
Blockchain is historical, it is disruptive, bigger than the internet, and there will be many blockchain products that come and go until it settles into everyday life.
Personally, I will force myself to live long enough to see the international banksters taken down and Blockchain will certainly be a big factor.
Oh we will have banking, more efficient, decentralized, much more secure, and capable of allowing financial crimes to be monitored.
But Goldman Sachs, Bank of America, Wells Fargo, Citibank, Chase and the central banks they huddle with WILL BE MADE OBSOLETE AND WILL GO DOWN.
Last year it was $20,000!
Yes, December last year is was almost $20k. In July 2017 is was about $2,500, July 2016, about $650 and July 2015 about $270.
Bitcoin goes through spikes in price when it gets in the news. But, its been generally going up in price over time with more adoption.
Avoiding taxes and evading taxes are 2 different things. There was never a suggestion that one should evade taxes.
Did you have a point, or is this just throw away FUD? The fact is that no one knows who mined those "first few million" bitcoin as the mining process is somewhat anonymous. It is thought that the original developer (or developers) mined about a million, but that is just a guess.
So, what is your concern if someone develops and invests in an invention and subsequently reaps a benefit?
So, what is your concern if someone develops and invests in an scam and subsequently reaps a benefit?
” But, its been generally going up in price over time with more adoption.”
Till last year.
Perhaps you can provide the details on how this scam works so we can have an actual discussion about it. Otherwise you are just posting more FUD.
Do more research. Bitcoin has gone through five or six spikes, then returned to a higher baseline. The December spike isn’t particularly special. If the tech fails or turns out not to be a useful as predicted, then yes the price pattern will change.
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