Well you like me, 100% dont fully understand money, as noone can fully understand anything, neither can I offer you enlightenment. But as youre open to learning and arnt ashamed of being 'humbled', id invite you take a good look through the PositiveMoney website, and compare your white paper with their research. Which includes a lot of white paper, and other top brass goodness.
Is it not the case that everything we have is based on faith?
Faith that Gold has meaning / faith that FIAT currency has meaning / faith that Crypto currency has meaning?
We then change the word “meaning” into value and hows its underpinned. We value gold/silver/oil etc as its underpinned by FIAT currency (currently) or we can argue it works visa versa. We value Bitcoin as it is also underpinned by FIAT currency (how else do we get $16k a coin)
If I own a market stall and someone wants to buy a kilo of apples using a bar of gold, I have a decision to accept the transaction or not, and that decision is based on the fact I can cash out the gold, either now or at a later date. They could give me a piece of Picasso art (again underpinned by a currency valuation).
So for now, the likes of Bitcoin only have value if it is being underpinned by FIAT currency, as this is all we have known. BUT it could all change, adapt or die, but that is the future and it will play out the way it is meant to.
I have yet to meet anyone whom is purchasing Bitcoin for any other reason other than to increase their FIAT currency wealth.
That’s not to say there are no entities whom see crypto as other means (like I say, its just that I personally dont know anyone), but bottom line is we would not be having this discussion if the FIAT currency value of bitcoin was not increasing at such a rapid rate.
Still all about di Dollaz!!
) in our current fiat, its natural to do so. Weve all been educated since knee high that it has value, weve all got a lot of experience using it in daily life.
Wow, I am going to leave this thread with a quote from one man who I admire very much for what he has done as a trader and who knows more than all of us combined about trading, business and money in general (and is owning the dream business for a traders):
"I'm extremely curious, this is an amazing thing," Peterffy told CNBC, adding that he doesn't own any bitcoin. "How silly people are, it is just amazing."
Is this really the source you are quoting for me to read! The site is a campaign to change the money system. There I was looking forward to being enlightened and end up discovering another deluded group of people.
Too true, but my trust may or may not last forever. May have to evolve if needed or forever live in my little cosy cave living off the land - as long as i can buy it in bitcoin:cheesy:If I had to choose one word, it would be 'trust'.
Theres all sorts of money, each with their good and not so good bits. But ultimately you have to believe that you can exchange it at some point in the future for something you want or need.
The apples for gold example. I see it as not being underpinned by fiat per say, but that you have faith that you can exchange it for good n services. The fiat is just another step between the gold bar and GnS. You have faith (at least some
I think the topic is fascinating. Well worth the time an research.
You mean the guy that didn't complete his economics degree and only held 2 jobs (including his current). Perhaps he couldn't get a real economics job and was forced into applying for one as a digital currency manager. Maybe he used bitcoin to pay for the job. Think I'll pass thanksHave you considered the possibility, that youre not quite as open to the possibility, of your actual understanding of money might be far less than your self perceived understanding of money, as you previously said you where? [emoji38]
Perhaps you could talk personally to the founder of this particular deluded group of people and ask him about house prices yourself. I did, back int day.
Hes not with them anymore though, got a new gig with some outfit in Threadneedle St.
020 7601 4444
Manager - Economic Research, Digital Currencies BoE
Tell em darkie sent ya, but do record the the call
, ya learn something new every day! Well, some of us do Yeah thats the one, the guy who had a hand in writing 'WHERE DOES MONEY COME FROM?', you know, the one with the foreword written by Charles Goodhart. The one that was referenced in the BoE Q3 bulletin:- Money in the Modern Economy.
Anyways, reckon we can call time here, theres dead horses and then theres smart people. Never knew that BoE took bitcoin tho
I'm not even going to bother. You keep throwing disgraceful examples and I keep highlighting how silly you look. Maybe you will learn something in finding quality sources of information as well as learning the inner workings of money which you have proven to know diddly squat about. Keep posting, I am moving on.
Bantz. I feel like the guy in the bar who starts the fight then disappears when it all kicks off
Anyway, I was thinking of opening an account with Bitfinex as they have a lot of choice on there. I know they got attacked a while ago but they've obviously upped their security, are they any good for a UK person to use?
