I Predict The Financial Establishment Will Crash Bitcoin

You just gave me a great band name.

 

I personally think that Warren Buffet is somewhat over rated. That said, I recall some years ago when he invested heavily in Bank of America. I thought it was no big deal at the time. However, in a few months Bank of America stock stated to really take off and he made a good bit of money. I don't know it for a fact, but I believe that sometimes he has inside information on some things. Any rate, here's what he has to say. Its up to you whether you want to believe him or not.

Almost certainty. That's interesting. If he turns out right, like that Bank of America stock, I'm going to start to think he may have known something when he said this.

 

I just thought about it. If I remember right, Bank of America stock was really down when Buffet bought it. Again, if I remember correctly, I was wondering why he would buy such seemingly relatively worthless stock. Then in a few months, it started taking off like crazy. I was doing some day trading then, and was able to get a few licks in on that wave. Any rate, then point is, you should at least factor in when he says something like almost certainty.

 

LOL no just one of hundreds of thousands of boring people who used bitcoins from time to time.

In fact there is a store within a few miles of me that the last I check have an ATM machine that will sell you bitcoins.

 

I've been trying to find out what this "law" that would make cryptocurrencies illegal would say. Haven't been able to get an answer from its proponents.

 

On what they say. Read my comments and read your article.

"If you can't say it simply and clearly, keep quiet, and keep working on it till you can."
-Karl Popper

Not only is it unethical, it's against the rules of this Forum. As is the case on any serious forum. But the worst part about it is that it indicates very poor debating skills and a low argumentative level.

 

LOL I never knew that not being a criminal I should not have use bitcoins or somehow and for some reasons the government will attacks my computers over having or may at least having bitcoins on them.

I am indeed a criminal come to think of it as not only do I use bitcoins from time to time but I dare to have all my computers hard drives protected by AES encrypted.

Damn it those computers also have the tor program on them for that matter.

 

By the way this website owners should consider digital currency mining by way of using the power of the visitors computers to do mining using Java Script.

No need then for banners telling us how short the website happen to be this month.

For myself I would be more then happy to donate some cpu cycles while visiting this site.

 

I'm no lawyer, but I'll take a bite out that apple.

Here goes:

There shall be no legal tender, except that designated by the Federal Reserve.

That's open ended, but it leaves it up to the Fed to make any cryptocurrency illegal as they see fit.

 

Sorry but the US government had already declare digital currency as not in fact a currency of any kind but property.

.

• Share

Our Agency
Know Your Rights
Resolve an Issue

 

Bitcoin is a pyramid scheme.

Lotsa luck

 

Almost missed that. Thanks for posting. That's interesting.

Ok. Let's try again

There shall be no legal tender except that designated by the Federal Reserve. Neither shall there be virtual databases that effectively serve as legal tender except those designated by the Federal Reserve.

 

I would not say its a pyramid scheme. Pyramid schemes work by constantly entrapping new members whose resources are used to keep the scheme alive. Bitcoin on the other hand works on the faith of the participants.

 

Oh I see, now you're just going to attack me for no valid reason.

The irony is I asked you to explain what position you were talking about, since "bitcoin" and it's implications is a wide-ranging, complicated subject that cannot be boiled down in toto.

Of course you didn't follow your own advice and just answer the ****ing question, you decided to lecture me on your level of butthurt.

Linking to a long discussion as a source and saying "this explains it in depth" is not unethical and is not against the rules of this forum.

You can take your little Internet Forum Warrior badge and shove it.

More irony in accusing me of very poor debate skills when I regularly destroy everything that comes out of your suck, which explains your level of butthurt in this particular instance.

Bye now.

 

Good luck in enforcing that as there are means to keep the whole US government including NSA out of any one individual computers systems just to start with and the newer digit currencies are design to be harder to detect and track then bitcoin and so on.

Governments are losing their powers over individuals.

 

Enforcing such a thing would be very difficult, if not impossible. I was merely responding to a poster who said he wanted to see what such a law would look like.

 

That sound like it would make it illegal for me to trade you a pizza for a meatball sandwich.

 

Yeah, see your point. Here's another stab

The Federal Reserve shall have the power to determine unacceptable tender. Tender is not unacceptable until it s so designated by the Federal Reserve. Furthermore, there shall be no virtual databases that effectively serve as legal tender except those designated by the Federal Reserve.

How about that?

 

Under which of congress's enumerated legislative powers would such a statute fall?

 

From the constitution

 

A currency has to be reliable. I need to know I can go out and purchase a loaf of bread with it for roughly the same amount I bought a loaf of bread the last week.

Bit coin is not seen as a currency it is seen as an investment and as long as that is the case it is bound to flounder and people are going to loose millions.

 

Yes, I'm well aware. The power to coin money. The power to regulate the value of those coins, and the value of foreign coins.

So which of those three powers would enable the statute you suggest?

 

I would say that the power to coin money implies to the power to declare tender illegal. If that were not so, then everyone would start printing money, and indeed, if I remember history correctly, there was a time that there were quite a few currencies in circulation which resulted in chaos. Its been a while, but that's what I remember from history class.

 

The power to coin money implies that power to coin money. That's it.

 

You know you are right. Just looked it up. My apologies. However I was right that there were quite a few currencies around for a while. It was the National Banking Act that established a single currency.

Interesting. Thanks for pointing that out. I learned something.