1 vote

BiTCoin DeBunked?

Alright guys and gals. While I do not believe Bitcoin or any other digital currency is "sound money" , there's no denying that investing in Bitcoin has proven to be very lucrative, even life changing for some.

I also believe in diversity and timing, and now seems like a perfect time to start a coin collection, based off of current trends.
Particularly, MITs announcement of their Bitcoin experiment.

So, for all you BTC EXP's where should I begin? Should I put it all on Red or Double Down? Do I spin the wheel or let it ride? I have time, energy and a couple handfuls of FRNs, all I need now is the knowledge.

Thanks in advance. Now lets make some BTC!



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... It's just comercial traffic with digital vapor behind it

Laundryhead thank you for putting a question mark after "debunked". Any chance you could do that to your Chemtrail thread as well? I also wanted to make a suggestion since you seem to be working on a debunking series, how about State-ism debunked?

It can't be...can it?

This next post in the "Debunked" series

Has yet to be decided. I will consider your suggestion about placing a "?" in the title of the CTDB thread.

Other folks have suggested similar more palatable titles, but the truth isn't always easy to swallow.

Do you know how many lies I told spreading unfounded disinfo? I unintentionally poisoned the minds of those closest to me.

I made a vow to myself to make it right.

I'm only here outta love brotha.

Free your mind and your heart will follow.

"I'm Ron Paul." - Ron Paul

But what about Blackcoin,

But what about Blackcoin, Whitecoin, Namecoin, Litecoin, Dogecoin, Kittehcoin, Peercoin, Nxt, Mastercoin, MaidSafeCoin, Primecoin, Counterparty, Feathercoin, Vertcoin, Infinitecoin, Novacoin, Maxcoin, YbCoin, Worldcoin, IxCoin, Mintcoin, Asiacoin, Fluttercoin, Particle, Billioncoin, Hobonickels, Devcoin, Auroracoin, Cinni, Ultracoin, Anoncoin, Reddcoin, Terracoin, Myriadcoin, USDe, Applecoin, Digitalcoin, Tickets, Potcoin, Unobtanium, Netcoin, Zeitcoin, Gridcoin, Goldcoin, Unioncoin, CaiShen, Monacoin, Digibyte, Karmacoin, ECCoin, Securecoin, NobleCoin, and Microcoin?

Why Bitcoin? How are Bitcoins different or better than Kittehcoins?

Bitcoin is only 56% of total coin trading volume, down from the mid-nineties a year ago.

Since all the coins are ultimately the same, and the supply is infinite, they should reach equilibrium. Once all the "coins" are worth the same, won't they all be worth nothing?

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

How are you determining "total coin trading volume"?

?

Sincerely,
Ray Powell
Founder, Hacking For Change
Head Geek, Startbutton.com

Go to coinmarketcap.com

It has both total market cap and daily trading volume for the 252 currently trading cryptocurrencies. When I started looking in December it was under 100.

Talk about inflation.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

the btc ecosystem is far superior than the others

it's the most secure and more liquid than the rest plus it's where most of the innovation and investment is focused.

"Since all the coins are ultimately the same"
this is false. almost all the coins differ in some way.

ultimately the free market will decide which is the best but due to the vast differences of various coins this will not be a zero sum game.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

The btc ecosystem is the same

The btc ecosystem is the same as every other coin ecosystem: they all exist in the same sphere. They are exchangeable and tradeable. I agree more people know about bitcoin, but so long as you can exchange one for the other, they're all liquid. Barrier to entry into the Coin-o-Verse is high, but once you're in, what's the difference between accepting one and accepting all 252?

As for the free market, once one gets ahead all you have to do is copy-paste its source code, and the supply of that strain grows to infinity. Then one gets ahead amongst that strain. Copy-paste. Copy-paste.

The market cap of all 252 combined coins is still vastly lower than Bitcoin was all by itself at its peak. They are diluting the value of cryptocurrency as more and more capital is diverted to the also-rans. Eventually there will be thousands and tens of thousands of coin types. What will they be worth?

If no coin can last, and no coin can stay on top, and there is huge incentive to create your own, then how does any coin retain value?

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

not up for debate

"The btc ecosystem is the same as every other coin ecosystem"
no. i'm not sure you understand the terminology but the btc ecosystem is superior and this is not up for debate, it is a fact everyone even the btc haters acknowledged. ltc and doge are the only others that come close right now but still have a long way to go.
the ecosystem can be measured in several ways, here's just a few....
how easy is it to get money in and out.
how many merchants accept each cryptocurrency.
new innovations (darkwallet etc) vc money.
in all those cases btc has about 90% of the market share of services. btc has a very active ecosystem from anarchist/crypto libertarians to silicon valley/nyc vc's who are pushing regulation.

"Copy-paste. Copy-paste"
if it's so easy you should make up one and become a millionaire over night, if only it were that easy. new coins move up the chart when they offer something different and innovative.

"Eventually there will be thousands and tens of thousands of coin types. What will they be worth? "
i don't know but the free market will decide. do you have a problem with that?

"If no coin can last, and no coin can stay on top, and there is huge incentive to create your own, then how does any coin retain value?"
i'm not sure what you have against free market competition but in life there will be winners and losers and the market will decide. you need to do more research.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

I agree that bitcoin is the

I agree that bitcoin is the most popular right now, but this advantage is 100% legacy, and accepting 200 different coins after you accept one is trivial.

On the subject of free markets, I like my refrigerators and cars improved by process of creative destruction, but I prefer that my money doesn't become obsolete for obvious reasons.

My issue is this division problem:

(all the world's buying power)/(total number of "coins") = average value of coin

The world's buying power is growing a lot slower than the total supply of cryptocurrency, and equilibrium is gradually being established. There are already 26 currencies with over $1 million in market cap, up from the teens earlier this year, while the total market cap has been dwindling significantly.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

Well blackcoin and whitecoin are obviously racist

I'm hoping someone can address this question:

"Since all the coins are ultimately the same, and the supply is infinite, they should reach equilibrium. Once all the "coins" are worth the same, won't they all be worth nothing?"

"I'm Ron Paul." - Ron Paul

Don't even get started on Yellowcoin and Reddcoin.

I have yet to hear a satisfactory answer to that one, too. I've been asking it for awhile and everyone seems to think that the "early to market" bitcoin will retain its value over the deluge of new coins popping up every day.

Bitcoin's declining market share says otherwise.

Buy some old guns or something else that's fun. I recommend Swiss K31's. Straight pull bolt, cheap, historic, usually in great shape. All the milsurp ammo is match-grade, too.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

Forgot RonPaulCoin (it really exists)

Just so you know, RonPaulCoin is up 117.47% as of today.

They are 89 cents apiece, but there's only 48,833 of them. $2131 in trading volume.

https://coinmarketcap.com/

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

IF ANYONE HERE: has ltc, doge wallet

Post your api and I'll send you some love!

I wouldn't ask for investment advice.

Especially on a political website. I will just saying i'm into DOGE/LTC I mine both. 2/280xs. They now have asics for litecoin so who knows what's going to happen.

The picture alone is worth an up vote.

.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

Haha

Glad you liked it. It made me laugh.

"I'm Ron Paul." - Ron Paul

get you a blockchain.info wallet

to play with and be sure to set up 2fa for security.
https://blockchain.info/

the fastest way to buy/sell btc is through localbitcoins or an atm if there is one in your area. if you pay cash at localbitcoins it is 100% anonymous.
https://localbitcoins.com

going through exchanges will take time to verify your id and receive a bank wire. just like banks and other financial institutions exchanges have to comply with the kyc laws.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Thanks for the links

However I would not recommend going to blockchain on a mobile device.

It will make you dizzy.

"I'm Ron Paul." - Ron Paul