Home | Community | Message Board

Out-Grow.com - Mushroom Growing Kits & Supplies
This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

Jump to first unread post Pages: 1 | 2 | Next >  [ show all ]
OfflineDest
Roller-Derby Coach
 User Gallery

Registered: 06/14/09
Posts: 2,444
Last seen: 6 years, 6 months
Bitcoin Bubble Bursts as China Cracks Down on Digital Currency
    #19296586 - 12/19/13 04:53 AM (10 years, 2 months ago)

http://www.wired.com/wiredenterprise/2013/12/china_crackdown

Maybe their govt saw how much money people made off the bit coin and cracked down so prices drop & they could get a piece of the action?
Nah
This can be moved to money matters just left it here for traffic.


Extras: Filter Print Post Top
Invisiblememes
Blessed


Folding@home Statistics
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Dest]
    #19296601 - 12/19/13 05:03 AM (10 years, 2 months ago)

i had some extra cash and picked up some LTC somewhere near the to of that bubble.  :shrug:

worst case scenario - good story & lesson :smile:


Extras: Filter Print Post Top
InvisibleTrentBoyett
Aspiring Mycologist
Male User Gallery


Registered: 11/29/12
Posts: 16,000
Loc: Kazakhstan
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Dest]
    #19296608 - 12/19/13 05:04 AM (10 years, 2 months ago)

Fuck China.

It's still at $700, that's not too bad considering not to long ago at all it was under $100...


Extras: Filter Print Post Top
Invisiblememes
Blessed


Folding@home Statistics
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: TrentBoyett]
    #19296609 - 12/19/13 05:06 AM (10 years, 2 months ago)

it was under 500 like.... 12 hours ago


Extras: Filter Print Post Top
InvisibleTrentBoyett
Aspiring Mycologist
Male User Gallery


Registered: 11/29/12
Posts: 16,000
Loc: Kazakhstan
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: memes]
    #19296611 - 12/19/13 05:08 AM (10 years, 2 months ago)

It's at ~$675 right now

http://preev.com/


Extras: Filter Print Post Top
InvisibleEnlilMDiscord
OTD God-King
 User Gallery


Folding@home Statistics
Registered: 08/16/03
Posts: 65,987
Loc: Uncanny Valley
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: memes]
    #19296613 - 12/19/13 05:09 AM (10 years, 2 months ago)

That currency is bound to be highly unstable.  It isn't backed by anything at all.


--------------------
Censoring opposing views since 2014.

Ask an Attorney

Fuck the Amish


Extras: Filter Print Post Top
InvisibleTrentBoyett
Aspiring Mycologist
Male User Gallery


Registered: 11/29/12
Posts: 16,000
Loc: Kazakhstan
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Enlil]
    #19296616 - 12/19/13 05:11 AM (10 years, 2 months ago)

Quote:

Enlil said:
That currency is bound to be highly unstable.  It isn't backed by anything at all.



Neither is the USD anymore.


Extras: Filter Print Post Top
InvisibleEnlilMDiscord
OTD God-King
 User Gallery


Folding@home Statistics
Registered: 08/16/03
Posts: 65,987
Loc: Uncanny Valley
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: TrentBoyett]
    #19296621 - 12/19/13 05:13 AM (10 years, 2 months ago)

That's not true.  U.S. currency is backed by the full faith and credit of the U.S. Government...A government that has never defaulted on a debt in over 200 years.


--------------------
Censoring opposing views since 2014.

Ask an Attorney

Fuck the Amish


Extras: Filter Print Post Top
InvisibleTrentBoyett
Aspiring Mycologist
Male User Gallery


Registered: 11/29/12
Posts: 16,000
Loc: Kazakhstan
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Enlil]
    #19296628 - 12/19/13 05:16 AM (10 years, 2 months ago)

Quote:

Enlil said:
That's not true.  U.S. currency is backed by the full faith and credit of the U.S. Government...A government that has never defaulted on a debt in over 200 years.



I thought you were talking about actually backed by something, like silver/gold..


Extras: Filter Print Post Top
Invisiblememes
Blessed


Folding@home Statistics
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Enlil]
    #19296630 - 12/19/13 05:17 AM (10 years, 2 months ago)

Which is to say, it's backed on the beliefs held by those who are using it.  Which is to say, it's backed by nothing tangible. 






Truth of the matter is, all currencies are exercises in convenience.  They provide a common medium of exchange to circumnavigate the barter market.  Whether it be a shiny rock or a paper bill, we can't eat or use it - so it has no inherent value.  Only in its common acceptance does it serve purpose.  (seashells used to be a form of currency.  if only!  i live on the coast)


Extras: Filter Print Post Top
InvisibleEnlilMDiscord
OTD God-King
 User Gallery


Folding@home Statistics
Registered: 08/16/03
Posts: 65,987
Loc: Uncanny Valley
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: memes]
    #19296663 - 12/19/13 05:36 AM (10 years, 2 months ago)

Still, you're ignoring the fact that U.S. Currency is relatively stable because it is backed by the U.S. Government.  Bitcoins will never be stable because they're backed by nothing. 

It's not like I'm making this shit up.  Bitcoin value has widely fluctuated in the 4 years they've existed. 

The point of a currency is to have a stable reference for purposes of determining the value of commodities and goods.  Bitcoins are not suitable because they are so unstable.  At best, bitcoins are a commodity....one that could become worthless at any point and without warning.


--------------------
Censoring opposing views since 2014.

Ask an Attorney

Fuck the Amish


Extras: Filter Print Post Top
Offlinehighc
creator
Male User Gallery


Registered: 08/31/07
Posts: 3,592
Loc: maryland
Last seen: 7 years, 3 months
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Enlil]
    #19296705 - 12/19/13 06:02 AM (10 years, 2 months ago)

Quote:

Enlil said:
That currency is bound to be highly unstable.  It isn't backed by anything at all.




Except its demand. Digitally its as good as a credit card. The new world order calls for a single currency. Which I'm not exactly opposed to. And wouldn't be surprised if it was just digital.


--------------------


Extras: Filter Print Post Top
Invisiblepsi
TOAST N' JAM
Male User Gallery

Registered: 09/05/99
Posts: 31,467
Loc: 613 Flag
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Enlil]
    #19296734 - 12/19/13 06:21 AM (10 years, 2 months ago)

Quote:

Enlil said:
That's not true.  U.S. currency is backed by the full faith and credit of the U.S. Government...A government that has never defaulted on a debt in over 200 years.




But they are not bound to repay their debts in anything other than printed paper dollars (any more at least.) It's faith in the US economy that backs the dollar, not faith in the government so much (although the two are related.) With Bitcoin it's also a case of faith in an economy, but that economy is much smaller and more unstable.


Extras: Filter Print Post Top
Offlinefapjack
Title
 User Gallery


Registered: 07/26/07
Posts: 16,574
Loc: Central New Jersey
Last seen: 3 years, 11 months
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Enlil] * 1
    #19296774 - 12/19/13 06:37 AM (10 years, 2 months ago)

Quote:

Enlil said:
That currency is bound to be highly unstable.  It isn't backed by anything at all.




It's backed by an endless supply of illict drugs that can't be bought with anything but BTC.


--------------------


Extras: Filter Print Post Top
InvisibleInto The Woods
Quarantine King
Male

Registered: 04/20/13
Posts: 10,864
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: fapjack]
    #19296775 - 12/19/13 06:39 AM (10 years, 2 months ago)

:lol:


Extras: Filter Print Post Top
Invisiblemuistrue
Inspired by the mystery
 User Gallery

Registered: 03/20/05
Posts: 12,899
Loc: Behind the Redwoods
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Into The Woods]
    #19297427 - 12/19/13 10:29 AM (10 years, 2 months ago)

I love bitcoins. I bought 5 grand worth at around $400 each and sold them all at around $900 each. Easy money. I bought a bunch more yesterday for super cheap and have already made some money overnight but I'll hold on to them for a minute and see what happens.


--------------------


Extras: Filter Print Post Top
Offlineshivas.wisdom
בּ
 User Gallery

Folding@home Statistics
Registered: 02/19/09
Posts: 13,465
Loc: Turtle Island
Last seen: 4 hours, 30 minutes
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Enlil]
    #19297498 - 12/19/13 10:48 AM (10 years, 2 months ago)

Quote:

Enlil said:
Still, you're ignoring the fact that U.S. Currency is relatively stable because it is backed by the U.S. Government.  Bitcoins will never be stable because they're backed by nothing.



The backing of the US government has nothing to do with the stability of the dollar--rather, it is the regulation by central banks that achieves this.

In order to maintain a stable currency you need to be able to regulate it by doing two things. 1, create new copies of the currency in order to keep the value from rising too much, and 2, destroy copies of the currency in order to keep the value from dropping too much. The creation of new copies of digital currencies is decided entirely by the greed of people buying up ASICs or GPUs and setting up miners. There is no way to destroy a mined crypto currency, period.


--------------------


Extras: Filter Print Post Top
OfflinesubliciouscompostV
Friend/Musician/Composter
Male User Gallery

Registered: 09/28/09
Posts: 446
Loc: Oakland Park Florida
Last seen: 3 years, 1 month
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: shivas.wisdom]
    #19297663 - 12/19/13 11:48 AM (10 years, 2 months ago)

We have no doubts! 25% off all orders paid by bitcoin. Use coupon code Bitcoin.


--------------------
Sublicious Compost - Grow your own mushrooms at home!

Now offering FREE SHIPPING with orders over $50!

Sublicious Compost is proud to offer mushroom kits, spawn jars and spawn bags! Check out SubFarms.com.

25% off all orders using Bitcoin! Use coupon code Bitcoin!


Edited by subliciouscompost (12/19/13 11:50 AM)


Extras: Filter Print Post Top
InvisibleInto The Woods
Quarantine King
Male

Registered: 04/20/13
Posts: 10,864
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: subliciouscompost]
    #19297684 - 12/19/13 11:53 AM (10 years, 2 months ago)

This guy knows what's going on. :smirk:


Extras: Filter Print Post Top
InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: Bitcoin Bubble Bursts as China Cracks Down on Digital Currency [Re: Dest] * 3
    #19297695 - 12/19/13 11:57 AM (10 years, 2 months ago)

Bubble bursts?  Give me a break... They are still worth hundreds a piece.  If/when a bitcoin is worth pennies , then the bubble has burst.


Extras: Filter Print Post Top
Jump to top Pages: 1 | 2 | Next >  [ show all ]

Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order


Similar ThreadsPosterViewsRepliesLast post
* Do you crack your joints or knuckles?
( 1 2 all )
MOTH 2,145 22 03/20/05 08:16 PM
by Harbinger
* Lungs bursting question MOTH 1,205 17 01/04/06 12:14 PM
by DoctorJ
* free base pipe vs. bubble tocuhe 3,953 11 07/24/06 10:58 PM
by Schwip
* I need trip reports for crack
( 1 2 all )
BrAiN 5,017 22 05/06/05 01:35 AM
by Fospher
* Who cracks their knuckles???
( 1 2 all )
mikeyboy 3,216 32 08/18/05 07:01 PM
by nightkrawler
* Anyone Mining BitCoins?
( 1 2 3 4 all )
Salvia_Antics 11,349 61 07/25/21 08:03 AM
by BSUUF2
* BitCoin, WTF?
( 1 2 all )
Doc_T 5,218 23 06/06/11 09:35 PM
by Newbie
* Bitcoin sve 1,022 4 05/30/11 12:11 PM
by willowmp

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: Entire Staff
2,694 topic views. 7 members, 35 guests and 55 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.025 seconds spending 0.007 seconds on 14 queries.