Quote: (09-30-2016 07:18 PM)NewMeta Wrote:
Quote: (09-30-2016 06:31 PM)Foolsgo1d Wrote:
Quote: (09-30-2016 03:06 PM)NewMeta Wrote:
Quote: (09-30-2016 02:31 PM)Foolsgo1d Wrote:
Call me skeptical but I don't see how Bitcoins are safer than USD.
It is a hell of a long story to explain this to you if you dont have economic knowledge of the petro dollar or the status of the dollar as the world reserve currency.
Basically if you do enough research there is a lot of evidence to suggest the USD's status as the worlds reserve currency and the currency by which oil should be priced (aka the petro dollar) is going to be superseded by another currency, which we can only speculate which it will be (lots of interesting articles on this).
The Deutsche Bank crisis is going to drag other US banks under with it, and this could be the starting point of moving away from the US dollar, when (and it is WHEN not IF at this point) it happens, the dollar will plummet in value, the FED will stop printing money and the US will have to deal with the 20 trillion or w.e it is in debt they owe.
Stop watching conspiracy videos on youtube. The USD has the US military & economy behind it, those bit coins you have? They could be rendered worthless overnight if the central bankers wanted it to be.
Collecting gold and silver will line you up as a target. The government knows who has what and you won't keep it if they want it.
Bitcoin is not safer than USD amd anyone who believes that has been lied to as far as I am concerned. They claimed pensions were safe, your bank accounts are safe and many other things, Didn't turn out so well for many. If the USD were to fail the world follows and bitcoins won't be worth anything.
Conspiracy...videos? guess I know not to listen to you when it comes to economics and investments haha. No offence dude, im just being real here, the US has 20 trillion is debt behind it, what economy are we talking about? I was talking economics of the dollar and what gives it its value, this isn't conspiracy its fact, the status as world reserve currency always changes, it used to be GBP for about 100 years and now its the dollar, and soon it wont be.
I know how secure bitcoin is, im a network security engineer I know the kind of architecture its built on, and even if by trade I wasn't its quite easy to learn the basics and understand what makes bitcoin so secure. Watch some tutorials online, most are very user friendly. Central banks cant touch it.
Is it a safe investment? Now that, is indeed a matter of opinion, as I said before my investment in it is based on predictions (well educated ones), all I can do is hope it pays off, if not, oh well.
You just went ahead and dismissed my entire post because I'm not an invesment broker or economic genius. If I were I wouldn't be making this post. I'll be too busy preparing for the week ahead like any financial genius would.
In short I hurt your feelings, all the while you went right ahead and underlined why I am skeptical about bitcoin.
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I was talking economics of the dollar and what gives it its value, this isn't conspiracy its fact, the status as world reserve currency always changes, it used to be GBP for about 100 years and now its the dollar, and soon it wont be.
True, the GPB was the force of nature the
British Empire made it. Through
military might, trade agreements and economic policy we were kings.
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I know how secure bitcoin is, im a network security engineer I know the kind of architecture its built on, and even if by trade I wasn't its quite easy to learn the basics and understand what makes bitcoin
And I am a professional in the property lending sector. A sector worth trillions of GBP. Yet I am powerless to stop market forces in the short term or what the lenders (banks) dictate over the short and long term. All I can do is value something built to modern standards or hundreds of years ago.
If a lender declares they will not lend on a specific building, a steel framed house for example, you cannot get money for it. You might as well burn it to the ground and sell the scrap to China.
The same for Bitcoin. A bank holds the gold, silver, platinum and anything worth of value. thats why its a bank. If they were to turn around and say something is not worth wiping their arse with, that's gospel.
What is bitcoin? Its a new currency used by the smart people of the world to move funds through banking systems. I'm not going to google it like so many would either.
It has no backing except for the good will the banks give it. The banks next week could fold and demand bail-ins and they'd get it. Yours, mine and everyone else's money will be used to prop them up. You think you'd stop them taking what is yours?
Where is your army?
What can you do to threaten banks?
What can they do to you?
Computers rely on tech, infrastructure and knowledge. Whats to say that infrastructure will survive intact?