Merged Bitcoin - Part 3

[carlitos]

we see what you did there.

......., one legal benefit is that the government can't raid your bitcoin wallet like it does your bank account.

Well, actually they can.

Of course they can't.

If the law permits the government to take money out of your bank account without any due process then bitcoin is useful for circumventing that.

 

[Dr. Keith]

Even if your theory about the history of the tulip mania was the slightest bit accurate, it is not a predictor about bitcoin.

The tulip mania lasted less than 12 months and never got up again while bitcoin keeps going up and down repeatedly. For other differences see the thousands of other posts that have been made for more than a decade.

More reach, more bigger fools to count on. Scale is hardly a defense of the bigger fool problem.

 

[psionl0]

More reach, more bigger fools to count on. Scale is hardly a defense of the bigger fool problem.

I knew you wouldn't read any of the posts that explained why there is no connection between bitcoin and tulips whatsoever. You didn't even read the post you quoted.

 

[Dr. Keith]

I knew you wouldn't read any of the posts that explained why there is no connection between bitcoin and tulips whatsoever. You didn't even read the post you quoted.

Tulips are pretty flowers.

Otherwise, both have value based on the hope that a bigger fool will think they have value.

 

[psionl0]

Tulips are pretty flowers.

Otherwise, both have value based on the hope that a bigger fool will think they have value.

You remind me of the idiot who insisted that bitcoin was a pyramid scheme. It didn't matter that there was no MLM aspect, nobody being recruited to sell bitcoins and nobody further up the chain getting a cut of your sales. "IT'S A PYRAMID GODDAMMIT"!

In a similar manner, you don't care that bitcoin has a utility that "pretty flowers" will never have and that is why bitcoin keeps bouncing back after a major tumble but tulips never did. IT'S A TULIP GODDAMMIT!

ETA comparing bitcoin to tulips is like comparing gold to iron (after all, they are both metals, right?) and concluding that gold will rust.

 

[lomiller]

I knew you wouldn't read any of the posts that explained why there is no connection between bitcoin and tulips whatsoever. You didn't even read the post you quoted.

That's because there are no posts that explain why bitcoin speculation is fundamentally different than tulip bulb speculation. You dodging the question then later on laying and saying "it's been answered" when it most certainly hasn't is getting old.

 

[lomiller]

You remind me of the idiot who insisted that bitcoin was a pyramid scheme. It didn't matter that there was no MLM aspect, nobody being recruited to sell bitcoins and nobody further up the chain getting a cut of your sales. "IT'S A PYRAMID GODDAMMIT"!

In a similar manner, you don't care that bitcoin has a utility that "pretty flowers" will never have

No it doesn't. Bitcoin is patently inferior to any real currency, using it sacrifices utility and destroys productivity.

The only utility bitcoin has is that it gives fanbois the warm and fuzzy feeling of owning bitcoin. (a useless form of utility, but technically utility nonetheless). This is no different than tulip bulb speculation, the only real difference is that tulip bulbs have the added utility of growing into attractive flowers.

 

[Dr. Keith]

You remind me of the idiot who insisted that bitcoin was a pyramid scheme. It didn't matter that there was no MLM aspect, nobody being recruited to sell bitcoins and nobody further up the chain getting a cut of your sales. "IT'S A PYRAMID GODDAMMIT"!

In a similar manner, you don't care that bitcoin has a utility that "pretty flowers" will never have and that is why bitcoin keeps bouncing back after a major tumble but tulips never did. IT'S A TULIP GODDAMMIT!

ETA comparing bitcoin to tulips is like comparing gold to iron (after all, they are both metals, right?) and concluding that gold will rust.

You are correct. It is not a pyramid scheme. That requires more structure. And subterfuge.

I have also pointed out that it is not a tulip. That would be a physical thing.

But both are similar to Bitcoin in that the only reason it has value is that one assumes that a bigger fool will come along thinking it has more value. Because the bigger fool is betting on an even bigger fool.

 

[psionl0]

No it doesn't.

Yes it does. You can't deny its utility just because you hate bitcoin.

 

[psionl0]

. . . bigger fool . . .

The most common claims among bitcoin haters are
- bitcoin has no use (other than speculation).
- only criminals use bitcoin.

A large fraction of the haters make both claims simultaneously but they are so illogical that they can't see that these claims contradict each other.

 

[lomiller]

Yes it does.

Repeating yourself won't change the facts.

 

[psionl0]

Repeating yourself won't change the facts.

Yet you do it anyway.

 

[a_unique_person]

You remind me of the idiot who insisted that bitcoin was a pyramid scheme. It didn't matter that there was no MLM aspect, nobody being recruited to sell bitcoins and nobody further up the chain getting a cut of your sales. "IT'S A PYRAMID GODDAMMIT"!

In a similar manner, you don't care that bitcoin has a utility that "pretty flowers" will never have and that is why bitcoin keeps bouncing back after a major tumble but tulips never did. IT'S A TULIP GODDAMMIT!

ETA comparing bitcoin to tulips is like comparing gold to iron (after all, they are both metals, right?) and concluding that gold will rust.

See post one of this thread. Look at an ad on the internet or even a football team sponsor. There is a push to buy Bitcoin.

 

[psionl0]

See post one of this thread.

Do you mean this one?

Back to $7500. Somebody is pumping it hard.

Continued from here

Posted By: kmortis

Surely you don't mean the post by michaelsuede that started the whole thing? Hating something just because the "wrong" person posts in favour of it is the ultimate ad-hominem.

 

[a_unique_person]

Do you mean this one?



Surely you don't mean the post by michaelsuede that started the whole thing? Hating something just because the "wrong" person posts in favour of it is the ultimate ad-hominem.

Do you know what pumping it hard means?

 

[psionl0]

Do you know what pumping it hard means?

Who is "pumping it hard"?

 

[Dr.Sid]

So mysterious .. I have no idea what we are even talking about any more ..

 

[Dr. Keith]

The most common claims among bitcoin haters are
- bitcoin has no use (other than speculation).
- only criminals use bitcoin.

A large fraction of the haters make both claims simultaneously but they are so illogical that they can't see that these claims contradict each other.

Do you know what a strawman is?

Bitcoin has no legitimate use, it is only useful to criminals and speculators counting on the bigger fool.

 

[psionl0]

. . . the only reason it has value is that one assumes that a bigger fool will come along thinking it has more value.

Bitcoin has no legitimate use, it is only useful to criminals and speculators counting on the bigger fool.

you had to add the word "legitimate" to try and avoid looking like an illogical fool. But most haters don't. You didn't even think of the criminal application until I reminded you of it.

Yet for all that, what you post is just illogical hatred that has no basis in fact whatsoever. But it has been the pattern for more than a decade that every time bitcoin has a major price slide, a whole new bunch of posters show up and copy posts from 2011. Why would you be any different?

 

[Dr. Keith]

It has value due to speculation on the bigger fool. It has utility as a tool for criminals. A tool for criminals doesn’t have such an erratic valuation. The two are unrelated. Bitcoin at $4 is still useful to criminals.