8/1/2011 2:12 am
Archivist said: Go cry to mommy and daddy, bitch.
Dad just slipped me $100 for taking care of the house whilst they were hangin' with their rich baby boomer friends in Tahoe.
I have a great family, we have an awesome garden, I shoot quail in the backyard with a b.b. gun and smear the bricks with their blood to keep away rodents and rabbits.
You? You trip over banana slugs while taking an entire weekend to install a ceiling fan.
8/1/2011 2:04 am
Archivist said: Garage?
And you can't refute a single point anybody makes, ever.
8/1/2011 2:00 am
Archivist said: The Revolution will not be televised.
What the fuck are you talking about.
The Republicans are going to cave but this debacle is likely going to cost Obama his next election.
7/30/2011 3:49 pm
. said: Now I've seen her nipple. I wasn't thinking that wouls happen when I woke up today.
7/27/2011 5:54 am
. said: Why would the government care about a bunch of Miltons giving each other virtual currency?
That's like the idiots who say the government is against gold prices going up. The government fucking loves it when gold prices gold up. Gold is taxed as a collectible. The more it goes up, the more tax revenue the government gets.
Gold isn't needed for anything. The government doesn't give a fuck about gold prices.
Now, the price of oil, it cares about because people need it to drive around. Who gives a fuck about the price of gold or bitcoins? Nobody.
It's a method to launder money. It's a way to make large drug transactions. The casinos and porn industries are getting interested because...its a way to launder money.
The government is going to hose this system. Obliterate it. Just watch.
7/27/2011 5:47 am
. said: That's what is so funny about this. The Miltons start talking about algorithms and how the money supply will run out so they will be worth more, etc.
They are baffled that the price dropped 50% after the news stories about bitcoins dropped off.
The price drop was likely due to the inflation caused by printing more bitcoins. Once there are no more bitcoins, the price of bitcoins will go up exponentially. My bitcoins will be worth billions of dollars in 50 years as the world runs out of precious bitcoin hash numbers!
If this guy has 20,000 bit coins and they are worth $14 each he should get rid of them right now. As in put them on the market before reading the end of this sentence.
Convert it to cash immediately. This bitcoin ship is going to roll over. I'll laugh my fucking ass off when it does.
7/27/2011 5:45 am
. said: Yes people have been saying this for over a year. Oh look price still going up. Exchange hacks, People's bitcions getting stolen, Media blitz about how its used for drugs.. ect. Still holding steady. More merchants using them. Casino's opening up. Porn started to get interested.
You are just who doesnt' want to get rid of his rotary phone for that shiny new touch tone phone.
The government is going to shut this ludicrious concept down. The government absolutely will not tolerate "bitcoins".
I'll be here on FC to laugh in your face when these things literally become worthless in an hour. Because this is what will happen. You nerd.
7/27/2011 5:43 am
. said: Yup put your money in the bank and get 0.01% interest.
Because a savings account is the only way to invest money.
7/27/2011 5:42 am
.. said: I asked one of these Asperger the other night if he understood the characteristics of currency. He responded by giving me physical properties of money and pointed out how solid Bitcoins were on that basis.
He didn't even grasp what I was saying. The whole idea of needing a computer to understand what the value of any piece of currency is worth, and how that might be a problem was completely over his head.
Which is the major flaw of bitcoins. The market is instantly limited because most people will not understand how bitcoins work. Therefore, they will not use them as a medium of exchange. Once this becomes common knowledge, nerds will begin liquidating bitcoins literally over night. Such an event can happen at any time.
These nerds better get out while they still can.
7/27/2011 5:40 am
. said: There is no way "Satoshi" is not running the Mt. Gox exchange or partner with the guy who runs it. He needs a way to wash the millions of initial coins he gave himself in a number of different accounts. And the best way is to run or be partners in the major exchange so you can control the flow. This is why the "theft" that recently happened got washed. He can just say "oh, those coins didn't exist"
This is all about making millions while fleecing Miltons out of their money. Miltons are fucking stupid when it comes to money.
This bitcoin thing sounds like it can lead to all sorts of criminal activity. The mob will use it as a mechanism to launder money. Hell, that's probably what they do already. And then the U.S., French, U.K. governments get involved and shut the fucking thing down or make them worthless by making the accounts illegal to possess.
This bitcoin thing has shitstain written all over it.
7/27/2011 5:38 am
. said: Pretty quickly. Some people dump 10k to 15k at one time on Mt. Gox.
Whoever has the 20,000 bitcoins now should dump them while he still can. Why be greedy and "wait" for them to go up in value? They could crash in value at any time.
Might as well offload these worthless things while some dumb nerd is willing to pay for them.
This shit cracks me up. What is so scary is that some of you are absolute koo koo over these things. The Crazy is The Sign that this is yet another Amway.
7/27/2011 5:35 am
. said: Because you don't understand MONEY, you don't even understand what inflation and deflation is.
When you have something that is used as money, you will have lending.
A short history less from something you would know if you knew anything about economics.
In 1000AD or so, gold coins were used as money. There were goldsmiths that would deal with coinage and gold.
People would pay to have the goldsmiths keep their money because they didn't want to keep them on their person or in their house or they'd get stolen.
Some goldsmith came up with a better idea. Instead of people paying to deposit coins with him, he would pay people to deposit their coins. He would do that by taking the coins on deposit and lending them out.
Lending is what you have inflation, deflation, etc.
bob gives goldsmith 1 coin
goldsmith lends 1 gold coin to fred
fred buys something from joe
joe gives the goldsmith 1 coin
goldsmith loans the 1 coin to sue
You only have 1 gold coin in the world, right? That's fucking it.
How many gold coins are in the economy now?
bob has 1 gold coin (on deposit)
joe has 1 gold coin (on deposit)
sue has 1 gold coin in her hand to spend
That is how you get inflation. There are 3 gold coins in the economy even though only 1 gold coin physically exists.
Notice there is no fucking "banksters" in this example.
Now, when lending is "easy" you have inflation in prices. When people can borrow millions to buy homes, homes become more expensive.
You have INFLATION. When people don't pay the fucking loans back, you can have DEFLATION.
It doesn't fucking matter what you use for money. Gold, tally sticks, giant rocks on the island of Yap (look it up, it is what they used for money)
you can have inflation, deflation etc.
What you are failing...I mean absolutely failing to understand......or refusing to understand...is that the market for bitcoins is limited. The MARKET is limited.
Anybody who has capital and a clue will open up a bitcoin exchange. Say, trade amazon gift cards for bitcoins. But they'll take a large percentage off the top.
Become the middle man for the medium of exchange of the bitcoins and fleece these nerds.
7/27/2011 5:30 am
I might buy a couple of bitcoins for the novelty of saying that I own one.
Kind of like buying a pet rock. You buy it because its kind of fun to do.
7/27/2011 5:29 am
Math guy. said: 14 dollars buys you one bitcoin, so do the math.
So if someone has 20,000 of them, how quickly could they be sold?
7/27/2011 5:27 am
. said: Of course you can have more bitcoins if they are used as money. You're another one of these fucking idiots, aren't you.
You understand 0 about economics.
It doesn't matter what you use for money, you can have inflation or deflation.
Look at gold in the year 1000. In a given community there was a fixed amount of gold. And yet they had massive inflation, deflation, booms and busts.
Do you know why? Because even though the currency in a monetary system is finite, you can ALWAYS print as much of that currency as you want unless you put restrictions on the economy. Since there are no restrictions on bitcoins, if they are ever actually used for money, they will have massive inflation, deflation, booms and busts just like gold in 1000+ A.D.
But you don't even understand why, do you? Because you are an economic moron.
It's called perception which influences supply and demand. Bitcoins will only be worth something as long as people believe they will be worth something. When enough people realize how worthless they really are the bitcoin market will crash.
The bitcoin concept is different. The supply is limited even though they supposedly can be taken out to eight decimal points.
It's a retarded concept that makes money even harder to understand for the average person. Therefore, only internet nerds are going to buy into this, and when the internet nerd supply runs out, the market for bitcoins is going to tank.
And once it tanks it is not coming back.
7/27/2011 5:09 am
. said: That's too bad. Has she mentioned this to you?
Nope, as the OP accurately stated, I have spoken only to a couple of those people since the photo was taken. I believe most, if not all, have already graduated from the program.
7/27/2011 5:08 am
. said: Yes the money supply is finite, but they are also divisible to 8 decimal places and that can be extended further.
You can sell goods and services to acquire them too.. thats kinda what they are meant for.
How many bitcoins would one U.S. dollar purchase?
7/27/2011 5:03 am
. said: Do you think Mackenzie Heys is pissed that her name comes up here when searching for her?
I am sure she would be and it is likely that I'll lose a friend over it.
7/27/2011 4:58 am
. said: It is useful for trading work for goods, etc.
What might happen is that this system will spawn identical systems. So you'll have lots of different virtual currencies based on slightly different algorithms. Everyone will be looking for the next virtual currency to try to get in early.
A few will become rich and the rest will lose their asses.
That is my prediction so bookmark this post.
7/27/2011 4:54 am
. said: Alot of the early adopters cashed out on the run to 30 dollars. By your logic, Apple stock is a scam because people got in early, same with google stock.
Please explain the scam point by point. Some of us here have researched bitcoins.
Because the money supply has a finite limit. If you notice it was loose in the beginning but quickly tightens. Not sure at what point on the curve that they are at but it is certainly a tighter point than before.
This means that the ability to accumulate bitcoins becomes exponentially more difficult.
So why bother?
You are better off standing on the street and rattling a tin cup. Really.
7/27/2011 4:50 am
I'm going to guess that the bitcoin tards are also gold bugs. They also argue for the dismantling of the Federal Reserve.
These people should be locked up with the key ground into a fine powder.
7/27/2011 4:47 am
. said: Yeah, the games section impaired by LSAT score, only scored in the 78th percentile.
One of my pals got into bankruptcy law. I'd probably do law school if I was younger. It'd be fun to charge boomers $200 an hour to help them plan for their financial ruin.
7/27/2011 4:46 am
. said: You sold "insurance" 17 years ago for three months. Sounded like a telemarketing scam. Then you delivered pizza. That's it.
Quite the resume for a middle aged man.
Sold it for over a year. Did dotcom stuff for over three years. Have been in school for so long I stopped checking off the years.
Not quite an impressive list but the night is still young.
7/27/2011 4:44 am
. said: You used to tell shitpig that you wanted to get her pregnant
I meant it too. She could have my baby if Brian didn't object. But I am sure he would and would probably blow my head off with a shotgun.
7/27/2011 4:43 am
. said: sandman, are you debt free?
Does James Marks make more than $9 an hour?