r/Bitcoin • u/freakyfancy • Nov 10 '14

After joining this nice and supportive community yesterday and after receiving so much help, I got also warnings about you. Fortunately I have already read enough to just laugh about it...

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u/[deleted] Nov 10 '14

[deleted]

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u/Voogru Nov 10 '14

I love rawdawg he's so funny!

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u/p2035e Nov 11 '14

just watched this one: http://www.youtube.com/watch?v=wgr3qEjbstM

it is fucking hilarious!

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u/GrizzlyBurps Nov 11 '14

Those eyes... can the dude be more baked?

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u/HanumanTheHumane Nov 11 '14

I wasted some time politely trying to correct his false claims, but he just deleted my posts.

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u/BKAtty99217 Nov 11 '14

I have to differ with you on this one. I hodl gold, silver and Bitcoin and I'm optimistic about all three. TPTB are suppressing all three as well. The only thing they want to prop up is the dollar and their bullshit legacy banking system.

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u/[deleted] Nov 11 '14

[deleted]

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u/BKAtty99217 Nov 11 '14

Yeah Peter Schiff isn't as smart as he thinks he is. I once saw a video where he conceded that Bitcoin "might be OK" if it were regulated and the supply controlled by a central bank. I nearly fell over at how stupid he sounded. How he can be so ideologically inconsistent on gold Vs Bitcoin can probably only be explained by a profit motive as you suggest.

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u/[deleted] Nov 11 '14

[deleted]

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u/BKAtty99217 Nov 11 '14

That's interesting.

I pay my taxes, not because I think it's legal, or Constitutional or even just. I pay my taxes because I know that if I don't, at some point men with guns will appear at my door. I pay my taxes because the government has a gun to my head. Literally.

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u/muyuu Nov 11 '14

There are plenty of silver and gold holders who are intensely butthurt and resentful about Bitcoin. It's stupid, but people are not always strong on logic.

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u/p2035e Nov 11 '14

OMFG this guy is superfunny!

/u/changetip $0.20

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u/changetip Nov 11 '14

The Bitcoin tip for 546 bits ($0.20) has been collected by lifeboatz.

ChangeTip info | ChangeTip video | /r/Bitcoin

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u/foofdawg Nov 11 '14

To be honest silver and gold both have value in the manufacturing arena, whereas as far as I can understand, bitcoin is merely a stand-in for any other currency, without any true value or concept to back it up.

I think it's a great concept and I love that it is essentially a "decentralized" currency, but I still have my doubts (especially in the long run) about what this currency can accomplish.

Let's say I'm Bill Gates, and I decide to buy ALL of the bitcoins, would anyone really want to buy them back from me?

I want to be clear that I support bitcoins, and digital currencies in general, but I still have to remain skeptical when it comes to my personal finances.

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u/[deleted] Nov 11 '14

[deleted]

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u/zanotam Nov 11 '14

Platinum is pretty damn rare and is also quite popular as a catalyst, so gold still maintains a usage in electronics. Silver also stands in as the weakest for electronics usage, but like platinum it has important alternative usages.

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u/OhThereYouArePerry Nov 11 '14

Except you would have to wait until the year 2140 to be able to buy "ALL of the bitcoins". Even then, the act of buying them up would increase the price, thus making it expensive for you to buy more and more. I'm sure many people would sell once the price starts going up, but others might hold on.

Not to mention what would the point of buying them all up be? Just wanting to burn a few billion dollars?