Bitcoin Will Devour Gold, Says MicroStrategy CEO

Discussion in 'Economics & Trade' started by scarlet witch, Nov 10, 2020.

  1. Quadhole

    Quadhole Well-Known Member

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    To sum up my view, I dont think they will be around long. Again, unless banks choose one and keep it legal. The banks again control it all. Why they have suppress Gold and silver so long, now bonds, to force the people into investing in stocks so they can rape and pillage daily. Crypto's are a way to make money now, then roll it over to tangible assets.

    Again, I am just an electrician by trade and inventor... This money thing, 2008 and learning just how crooked these people are brought me to this... Learning about it. I do not disagree fully with crypto's... Just careful..
     
  2. Quadhole

    Quadhole Well-Known Member

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    Gold mining relies heavily on the use of toxic chemicals and produces so much waste that it is hard to grasp.
    https://www.theworldcounts.com/chal...ng/environmental-effects-of-gold-mining/story

    The Environmental Disaster That is the Gold Industry
    https://www.smithsonianmag.com/science-nature/environmental-disaster-gold-industry-180949762/


    What's left in the wake of South Africa’s abandoned gold mines
    https://www.greenbiz.com/article/whats-left-wake-south-africas-abandoned-gold-mines

    All 3 of these are articles to make people not buy GOLD. it is that simple. Miners dont "RELY" on heavy metals. They are used in 3rd world nations to separate the gold. Very small amounts. But it is a great talking point when manipulating the mases. 99% of the worlds mines dont use them.... Just like 99% of the people hear BS news.
     
  3. Quadhole

    Quadhole Well-Known Member

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    That is not like a real problem..... Dummy problem.... It looks like she is a Bitcoin sales person... No one posts that much without an agenda. Of course in the category that doenst matter much.... Lots of ways to make money other than bitcoin... I am in the defi section, know very little about it other than the kids get to borrow money, crypto's, etc. They are broke and have little too lose so this will grow.
     
  4. FatBack

    FatBack Well-Known Member

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    The gov prints enough fiat....digital fiat? No thanks, Im good on that.
     
  5. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    They still use cyanide and claim its less toxic.... less toxic doesn't make it NOT toxic... if you have 100% toxic and you take away 5% that's still 96% toxic....
    https://theviolenceofdevelopment.com/the-use-of-cyanide-in-gold-mining/

    The point is not to stop you buying gold... by all means buy gold.... the point is they pain bitcoin as bad for the environment... yet fail to mention what gold mining have done to the environment

    THE USE OF CYANIDE IN GOLD MINING

    https://theviolenceofdevelopment.com/the-use-of-cyanide-in-gold-mining/
     
  6. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    bitcoin sales person :lol:

    looks like you're a central banker sales person... No one posts that much without an agenda
     
    Last edited: Feb 2, 2021
  7. bringiton

    bringiton Well-Known Member

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    ~98% of the money in use in the USA consists of outstanding loan principal created by private commercial banks, not fiat money printed by government.
     
  8. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    yes the eurodollar and it is the eurodollar system that caused the GFC in 2008 not subprime and it is the eurodollar system that is causing negative GDP exacerbated by covid and it is the eurodollar system that makes a bitcoin standard necessary.
     
  9. bringiton

    bringiton Well-Known Member

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    False dichotomy fallacy. Debt- and interest-free fiat money would work far better than $#!+coin.
     
  10. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    :rolleyes: your personal opinion is a $#!+coin
     
    Last edited: Feb 3, 2021
  11. bringiton

    bringiton Well-Known Member

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    I have explained why my opinion is factually correct.
     
  12. a better world

    a better world Well-Known Member

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    Re "eurodollars": they are a reflection of geopolitical realities, rather than a cause of dysfunctional currencies.

    And the GFC was caused by the unregulated financial casino with its fancy derivatives ("financial weapons of mass destruction": Warren Buffet).

    Perhaps you can read my comment re fiat currencies here:

    " The value of a nation's (government) currency IS the productive capacity of the nation (whether in the special circumstances of a pandemic, or normal circumstances, as addressed above).

    Your "ONLY MEANS OF PAYMENT" proposition refers to the the agreed currency of payment to the nation's government, regardless of the form of government (communist or otherwise).

    FYI, a central bank that is authorized to create and spend the nation's own currency into the economy, in the PUBLIC sector, alongside money creation in private banks and spending in the PRIVATE sector, is NOT "communism".
     
  13. FatBack

    FatBack Well-Known Member

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    Source?
     
  14. AlpinLuke

    AlpinLuke Well-Known Member

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    Bitcoins? Are you still talking about bitcoins?
    Really?

    They are a black hole to disintegrate the money of not well educated investors.
    Don't trust bitcoins.
     
  15. bringiton

    bringiton Well-Known Member

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    Compare your bank account balance to the cash in your pocket.
     
  16. Farnsworth

    Farnsworth Well-Known Member

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    Bitcoins??? Phaw!!!! Buy my Magic Beans instead!!! PM me for prices, and watch your investment grow !!!! Literally!!! And, they're Green!!! Shipped in a gorgeous plastic Walmart bag!!!!
     
    Last edited: Feb 6, 2021
  17. DEFinning

    DEFinning Well-Known Member Donor

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    Because of the enigmatic, inexplicable nature of your answers, I am not sure if this will be helpful towards your better understanding of Bitcoin, or if you knew all this and, despite my queries as to your Bitcoin knowledge, you failed to mention it. But this wikipedia article is about the CREATOR of Bitcoin, who is not some immortal being, who has, "existed since the beginning of time," but rather a person or group who started all this in 2008, & who goes by the name Satoshi Nakamoto.

    https://en.m.wikipedia.org/wiki/Satoshi_Nakamoto#:~:text=Satoshi Nakamoto is the name,deployed bitcoin's original reference implementation.&text=Nakamoto was active in the development of bitcoin up until December 2010.

    <SNIP>

    Satoshi Nakamoto is the name used by the presumed pseudonymous[1][2][3][4] person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation.[5] As part of the implementation, Nakamoto also devised the first blockchain database.[6] ...

    Nakamoto stated that work on the writing of the code for bitcoin began in 2007.[8] On 18 August 2008, he or a colleague registered the domain name bitcoin.org,[9] and created a web site at that address. On 31 October, Nakamoto published a white paper on the cryptography mailing list at metzdowd.com describing a digital cryptocurrency, titled "Bitcoin: A Peer-to-Peer Electronic Cash System".[10][11][12]

    [​IMG]
    Satoshi Nakamoto message embedded in the coinbase of the first block

    On 9 January 2009, Nakamoto released version 0.1 of the bitcoin software on SourceForge, and launched the network by defining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins.[13][14][15][16] Embedded in the coinbase transaction of this block is the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks",[17] citing a headline in the UK newspaper The Times published on that date.[18] This note has been interpreted as both a timestamp and a derisive comment on the instability caused by fractional-reserve banking.[19]: 18 

    Nakamoto continued to collaborate with other developers on the bitcoin software until mid-2010, making all modifications to the source code himself. He then gave control of the source code repository and network alert key to Gavin Andresen,[20] transferred several related domains to various prominent members of the bitcoin community, and stopped his recognized involvement in the project.[citation needed]

    In 2021 a monument was announced in honor of Nakamoto in Budapest, Hungary for his work on Bitcoin and cryptocurrencies.[21]
     
    Last edited: Nov 6, 2021

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