A lot of Bitcoin enthusiast claim Bitcoin is a real threat to the fiat system...Are they serious???

originally posted by: intrptr

originally posted by: JinMI
a reply to: intrptr

Yes, you're right. Fail is too harsh of a term. Falter? Reduce massively in leverage?

However, no one (that I know of anyway) can eat or drink gold.

Any small merchant will accept it as currency, anywhere in the world.

Thats how things used to be. All merchants had a touch stone, balance, and a bottle of acid to determine purity.

Patrons held gold in chains wrapped about their body, removed links for payment of groceries and other goods or services at the marketplace.

The Spanish Galleon, Atocha treasure ship found off Florida by Mel Fischer was full of these linked gold chains...

image search

Actually you will find noone, literally anywhere in the world will accept gold as a currency.

Those days are long gone..and if the internet goes down etc..this will not make anyone care about metals like that.

Things have changed, gold is boring and will not advance..and in fact its price would drop without technology using the crap out of it.

a reply to: ParasuvO

Crap. Gold is the favorite currency between banks, period. It is their hardest asset, their bottom line collateral.

Like the pics of the queen in the basement Bank of England vault.

You think they keep hundreds of tons of gold there for looks?

Thanks for trying to mislead everyone about the non value of gold, that was golden.

Disinformation specialist rears their head.

a reply to: ParasuvO

Maybe as an every day currency, gold is not a preferred thing to have. Its worth so much that paying for a loaf of bread with a little chip of gold would be a real pain in the rear.
However, the history of its use as a currency and the fact that its still held by banks today kinda says otherwise.

a reply to: Tarius

Member statement...

Actually you will find noone, literally anywhere in the world will accept gold as a currency.

... is a bald faced lie. Banks only exchange gold between themselves.

Fiat currencies are for the public.

What are banks gonna do, call each other up and say they have a bunch of "Bank Notes" in their vault as collateral?

originally posted by: neo96
Bitcoin just hit $19,000.

Still two weeks left in the year.

Gonna say 2017 will end with bitcoin over $20,000.

The day is still young, May well hit it today.

Guarentee you it will happen this week. What people don't seem to realize is how many people are rushing to join the exchanges to buy right now. I can tell you having been using them this week they are swamped with new people joining, and that means more money coming in, and that means the price is going to rise.

It may just be a Ponzi scheme at the moment but I can tell you based on momentum, it has a ways to go up still.

a reply to: aiolosmartine

Posters have pointed to the fact that many early holders of bitcoin are quite interested in converting bitcoin to US Dollars. They are running back to the old school money game just as quickly as the bidders for bitcoin will allow. The banks love this. Banks love to move money around.

Remember the US Dollars that bitcoin holders are selling out for are coming from some other person's US Dollar account. Some of it is even "new" dollars being pulled from the future via credit card transactions. Recall that credit card transactions create new dollars. The ability to "write" loans and create new money was put into the hands of credit card holders a long time ago.

So we can conclude that the bankers are having a grand old time.

I believe Trump will get credit for it all, too. He will be remembered as the President that showed us all the art of the deal.

Also, there will be effects in the near future.

The bitcoin types, the underdogs, the nerds are going to suddenly be wealthy. They will buy a car, a house and a boat. They will suddenly be attracting women. They will make babies.

The economy is going to boom. Trump will get the credit.

The population of this particular demographic is going to boom. Trump will get the credit.

The same ones that think they are kicking against the system are actually going to strengthen the system.

Look at the old fashioned stock market. Booming. There is a bull market in everything. All prices rising. The old guys are not going to let the young guys take over. The old guys are zooming the money in their stock game too. Money chases returns. You can bet there are major investment firms logged on to the bitcoin exchanges and running algorithms. Go look at the flow of trades at one of these exchanges. Looks just like the stock market only 24 hours. Tons of liquidity. Tons of transactions flowing by. Money fall out the screen.

This is going to keep going at least until middle May, 2018.

a reply to: aiolosmartine

Nobody knows where the Blockchain will lead us, but one thing i'm pretty sure of is that bitcoin will not replace fiat money. As an avid user of Bitcoin I am amazed it has even gotten this far! It isn't bitcoin that we need to look out for, it's the BlockChain technology it is based on that has the chance to take over fiat currencies and maybe one day even be the NWO's money system.

originally posted by: rshackleford
I've never understood why it has to be a threat or anything. I've heard it a lot. I have some investment in different coins myself, but I don't see why it has to threaten anything. It's just something different. There's nothing wrong with that. I certainly don't think it's going to overthrow any kind of system or anything along those lines anyway. It just isn't going to happen. It doesn't mean it can't be valuable or useful without needing to overthrow or threaten anything else.

Except the motto of the central banks has always been:

"It's not enough that we succeed..... Everyone else must fail."

Actually that might have been Genghis Khan or Attila the Hun that said that, but they are similar to how the central banks do business.