Bitcoin - Part 2

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PartSkeptic said:
There must be a new theory to replace the "greater fool theory", namely the "bigger monkey theory".
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Why do you automatically assume that this is a scam?

The Bananacoin group is using the TGE crowdfunding model to raise funds for the expansion of a banana plantation in Laos from 100 Ha to 360 Ha.

It is not without risk but I would have thought that a token that has a material backing would be preferable to a cryptocurrency that has no backing.

https://bananacoin.io/files/White_Paper_Bananacoin_en.pdf
 
psionl0 said:
Why do you automatically assume that this is a scam?

The Bananacoin group is using the TGE crowdfunding model to raise funds for the expansion of a banana plantation in Laos from 100 Ha to 360 Ha.

It is not without risk but I would have thought that a token that has a material backing would be preferable to a cryptocurrency that has no backing.

https://bananacoin.io/files/White_Paper_Bananacoin_en.pdf
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A material backing that rots after a few days, and fluctuates wildly in price from moment to moment? Imagine the pong that'll come out of Ft Knox when the USA goes on to the banana standard.
 
I confess I don't know much about bitcoin, like somebody like Max Keiser, but it seems to me that it is not a security token. At least real money is still a bit regulated, though the banks are fighting that, and it now has no gold backing, but there is still confidence in a dollar standard with other commodity backing.
 
If you like "banana money', here's some, with a picture of that fruit engraved on it. But not from the USA; from the Japanese occupation of the Netherlands Indies (as then was) in 1942.
 
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psionl0 said:
Why do you automatically assume that this is a scam?

The Bananacoin group is using the TGE crowdfunding model to raise funds for the expansion of a banana plantation in Laos from 100 Ha Hahas to 360 Ha Hahas.

It is not without risk but I would have thought that a token that has a material backing would be preferable to a cryptocurrency that has no backing.

https://bananacoin.io/files/White_Paper_Bananacoin_en.pdf
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Fixed that for you.
 
ponderingturtle said:
To quote Mark Twain "Truth is stranger than fiction, but it is because Fiction is obliged to stick to possibilities; Truth isn't."
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I had not heard that one, but absolutely excellent.
Meanwhile Bitcoin is closing at lowest level since November.
Yes, this does matter. I keep expecting a freefall episode. I suspect it is Asian money at work propping the thing up. I refuse to believe anyone on planet America is still being suckered.
 
Samson said:
I had not heard that one, but absolutely excellent.
Meanwhile Bitcoin is closing at lowest level since November.
Yes, this does matter. I keep expecting a freefall episode. I suspect it is Asian money at work propping the thing up. I refuse to believe anyone on planet America is still being suckered.
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This time planet America has the Libertarians and other "anarcho-capitalists" who have an ideological affection for cryptos and have set themselves up to be suckered.

They reject regulation of the currency as the evil work of the Feds. Needless to say scammers noticed this predisposition and have exploited it to the full, like tent hall revivalists deftly emptying the pockets of naive biblical literalist hillbillies.
 
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Craig B said:
This time planet America has the Libertarians and other "anarcho-capitalists" who have an ideological affection for cryptos and have set themselves up to be suckered.

They reject regulation of the currency as the evil work of the Feds. Needless to say scammers noticed this predisposition and have exploited it to the full, like tent hall revivalists deftly emptying the pockets of naive biblical literalist hillbillies.
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Yes. This scam has got a group of people believing and having faith. The prophets are the ones who have made a ton of money in the past. Satan and his demons are the elite and governments -which probably has hint of truth.

This site has added a trading indicator - a meter indicating buy or sell. It has been in the sell region for the past two days.

https://www.bitcoinzar.co.za/bitcoin-price-chart/

It has the following labels - strong sell, sell, neutral, buy and strong buy.

I think the extremes should be labeled as panic sell and manic buy.
 
PartSkeptic said:
This site has added a trading indicator - a meter indicating buy or sell. It has been in the sell region for the past two days.

https://www.bitcoinzar.co.za/bitcoin-price-chart/
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It is hardly surprising that you would refer to Bitfinex - the exchange that is embroiled in controversy over its "tether" currency.

You don't care about the quality of your sources - only that they say something negative about bitcoin.
 
psionl0 said:
It is hardly surprising that you would refer to Bitfinex - the exchange that is embroiled in controversy over its "tether" currency.

You don't care about the quality of your sources - only that they say something negative about bitcoin.
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It is local currency and I like it's display.

Do you have a better one?
 
No idea of the technicalities involved here, but thought others might find it interesting and/or know more.

Bitcoin - the Revenue comes calling (BBC)

It is that time of year many a self-employed person dreads, the deadline to submit your tax return and pay anything you owe. But this year there is a question a select few should be asking themselves - have I profited from my investment in crypto-currencies?

If you have, you could be liable for tax.
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PartSkeptic said:
It is local currency and I like it's display.

Do you have a better one?
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I've been using this site but its saying a bad thing about Bitcoin too. Down by half from its peak and recommended Sell.

Psion must have a source saying it's gone up, and with strong buy advice. Perhaps he could link us to it.

I've seen an ad telling me to buy Etherium cos it's gonna go up 49,000%.

What is coin mama saying about Bitcoin now? She's been remarkably bullish in the past, and you can buy by credit card on her site.
 
Craig B said:
I've been using this site but its saying a bad thing about Bitcoin too.
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That's the same bitfinex site. That makes two posters who judge a site purely on its negativity towards bitcoin.

Craig B said:
Psion must have a source saying it's gone up, and with strong buy advice. Perhaps he could link us to it.
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Of course not! Only an idiot would trust a source that claims to know which way the price of bitcoin is headed.
 
psionl0 said:
That's the same bitfinex site. That makes two posters who judge a site purely on its negativity towards bitcoin.
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If you show me a site with a buy recommendation showing it hasn't fallen by about half since the peak, I'll link to that too. I use the site I've linked to because the charts are informative and clear.
 
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psionl0 said:
No, you used that site because "its saying a bad thing about Bitcoin too".
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Both CraigB and I used the two sites because they are (as he says) informative and clear.

What is the sound of Bitcoin crashing?
Same as the sound of incoming artillery shell! It went up and now it is coming down.;)
 
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