Topic: China and the US a la Munger: "Bitcoin is rat poison!" (Read 3077 times)
Bitcoin doesn't have to be fully worldwide to be successful, china can build all the walls they want, one day there people will demand freedom to match their wealth
More stink from the pig pen. 
or is that Chinese food? porc fried rice?
I love the analogy to rat poison though as I often think of bankers as rats.
+1 for banker poison which means your current score is -434
You must slowly be coming around.
or is that Chinese food? porc fried rice?I love the analogy to rat poison though as I often think of bankers as rats.
+1 for banker poison which means your current score is -434
You must slowly be coming around.
You've got a very valid point but if they can get into The Pentagon's systems (arguably one of the most secure in the world) and steal hundreds of billions worth of top secret info which they're using to develop their own knock-off versions, a serious attack on Bitcoin isn't out of the realm of possibilities.
China could easily drop millions upon millions into developing and building ASIC supercomputers purely to try their hand at a 51% attack. If 51% fails, they could probably utilise thousands of their devs to go around hacking stuff. These are simple possibilities and no doubt there are many more they know of, which we don't.
I'm not a conspiracy theory nut or here to start arguments; I just believe that China are dead against crypto currencies for fiscal and political reasons and they're making it quite clear they won't tolerate crypto as a financial medium. China is still communist, still repressive and it will stop at nothing to ensure its fiat currency stays where they want it to.
China could easily drop millions upon millions into developing and building ASIC supercomputers purely to try their hand at a 51% attack. If 51% fails, they could probably utilise thousands of their devs to go around hacking stuff. These are simple possibilities and no doubt there are many more they know of, which we don't.
I'm not a conspiracy theory nut or here to start arguments; I just believe that China are dead against crypto currencies for fiscal and political reasons and they're making it quite clear they won't tolerate crypto as a financial medium. China is still communist, still repressive and it will stop at nothing to ensure its fiat currency stays where they want it to.
They could actually try, but if they build ASIC supercomputers, then difficulty will grow exponentially and they will still ultimately fail to try a 51% attack. I think the majority of China successes at breaking into the Pentagon's systems and whatnot is primarily due to human factors and long tongues, the factors which bitcoin technology by its very nature is very well protected from...
You've got a very valid point but if they can get into The Pentagon's systems (arguably one of the most secure in the world) and steal hundreds of billions worth of top secret info which they're using to develop their own knock-off versions, a serious attack on Bitcoin isn't out of the realm of possibilities.
China could easily drop millions upon millions into developing and building ASIC supercomputers purely to try their hand at a 51% attack. If 51% fails, they could probably utilise thousands of their devs to go around hacking stuff. These are simple possibilities and no doubt there are many more they know of, which we don't.
I'm not a conspiracy theory nut or here to start arguments; I just believe that China are dead against crypto currencies for fiscal and political reasons and they're making it quite clear they won't tolerate crypto as a financial medium. China is still communist, still repressive and it will stop at nothing to ensure its fiat currency stays where they want it to.
China could easily drop millions upon millions into developing and building ASIC supercomputers purely to try their hand at a 51% attack. If 51% fails, they could probably utilise thousands of their devs to go around hacking stuff. These are simple possibilities and no doubt there are many more they know of, which we don't.
I'm not a conspiracy theory nut or here to start arguments; I just believe that China are dead against crypto currencies for fiscal and political reasons and they're making it quite clear they won't tolerate crypto as a financial medium. China is still communist, still repressive and it will stop at nothing to ensure its fiat currency stays where they want it to.
The OP has some pretty wild ideas but some of it is definitely worth thinking about.
Bitcoin is a thorn in the side to the Chinese government and they're pretty hell-bent on removing it from the Chinese currency market. Look back to what they did to the Chinese Bitcoin exchanges last week. Their government doesn't like Bitcoin because it kind of alleviates the cap on the amount of money people can send out of the country, plus it's anonymous.
I believe the single biggest threat to the future of Bitcoin is the potential for Chinese government-sponsored sabotage of the Bitcoin network. They are believed to have stolen the top secret plans for America's stealth fighter planes and aircraft carriers, so I doubt Bitcoin is going to be too difficult for them to break, if they really wanted it to.
Bitcoin is a thorn in the side to the Chinese government and they're pretty hell-bent on removing it from the Chinese currency market. Look back to what they did to the Chinese Bitcoin exchanges last week. Their government doesn't like Bitcoin because it kind of alleviates the cap on the amount of money people can send out of the country, plus it's anonymous.
I believe the single biggest threat to the future of Bitcoin is the potential for Chinese government-sponsored sabotage of the Bitcoin network. They are believed to have stolen the top secret plans for America's stealth fighter planes and aircraft carriers, so I doubt Bitcoin is going to be too difficult for them to break, if they really wanted it to.
No, this doesn't work this way and that's probably why China is so harsh towards bitcoin. If you know some encryption algorithm, this doesn't automatically mean that you can decipher everything encrypted with it (we are well past those good ol' times). That's how the matters stand with bitcoin...
Welcome asymmetric cryptography
The OP has some pretty wild ideas but some of it is definitely worth thinking about.
Bitcoin is a thorn in the side to the Chinese government and they're pretty hell-bent on removing it from the Chinese currency market. Look back to what they did to the Chinese Bitcoin exchanges last week. Their government doesn't like Bitcoin because it kind of alleviates the cap on the amount of money people can send out of the country, plus it's anonymous.
I believe the single biggest threat to the future of Bitcoin is the potential for Chinese government-sponsored sabotage of the Bitcoin network. They are believed to have stolen the top secret plans for America's stealth fighter planes and aircraft carriers, so I doubt Bitcoin is going to be too difficult for them to break, if they really wanted it to.
Bitcoin is a thorn in the side to the Chinese government and they're pretty hell-bent on removing it from the Chinese currency market. Look back to what they did to the Chinese Bitcoin exchanges last week. Their government doesn't like Bitcoin because it kind of alleviates the cap on the amount of money people can send out of the country, plus it's anonymous.
I believe the single biggest threat to the future of Bitcoin is the potential for Chinese government-sponsored sabotage of the Bitcoin network. They are believed to have stolen the top secret plans for America's stealth fighter planes and aircraft carriers, so I doubt Bitcoin is going to be too difficult for them to break, if they really wanted it to.
DISCLOSURE: I dont believe Bitcoin is viable, even if it were allowed to compete.
Hate to break the news man, but Bitcoin is already viable. Its not some failed experiment. Its real and its valued in BILLIONS of fiat papers.
Sodium flouride is rat poison too but everyone drinks it.
Don't remind me
Sodium flouride is rat poison too but everyone drinks it.
@Hideyoshi, if you quote other user's post, please copy/paste original text to the quote block! 
It is a cure for the predatory disease of capitalism socialism that hunts the working class.
fify
Bitcoin has become a religion of the repressed masses. It is kinda similar to Christianity. There are the bad guys, there are the poor guys, and there is the promise of a better land. It is a cure for the predatory disease of capitalism that hunts the working class. At least that's how it is being sold to the masses. It's doomed to not fail. It is an idea, something that exist in the mind, and thus it is without any tangible properties that would make it fail. There is plenty of $$$ one can make from this dream, so I recommend you to jump in while you can.
Why China is the most important market of the 21st century.
China is the next great nation.
They have great plans for the yuan and are slowly moving away from the dollar peg and treasuries. Their currency will rise dramatically once it is allowed to float freely.
The Chinese will see a RISING yuan and thus a exploding living standard.
China is the next great nation.
They have great plans for the yuan and are slowly moving away from the dollar peg and treasuries. Their currency will rise dramatically once it is allowed to float freely.
The Chinese will see a RISING yuan and thus a exploding living standard.
I do not know who said such stupid things, but they are completely foolish and untrue. Chinese government is totalitarian, but they are afraid of political unrest, too, and to avoid it must keep unemployment as low as possible. To do this thing, they must make exports as cheap as possible, and thus have as many people work at factories as possible, which means they have to keep their currency as cheap as possible. If Chinese government allowed for such things as stated above, price of Chinese labor and exports will go up, unemployment will go up, and people with power in government may have to deal with popular revolution. Again. They fear this, and will not let it happen.
Fiat money is shit, decentralized currencies are the future. Learn to deal with not being able to steal from people silently via inflation.
Many U.S. corporations have begun bringing back manufacturing home and this trend will even increase witch cheap energy (shale gas), automation and rising wages in China.
Chinese likely will lag forever in the level of technology and simply clone western inventions as they do it now (it is a specific part of their mentality and is difficult to change). As the result, Chinese economy will be like it was 100 years ago!
Chinese likely will lag forever in the level of technology and simply clone western inventions as they do it now (it is a specific part of their mentality and is difficult to change). As the result, Chinese economy will be like it was 100 years ago!
And the fact the Bitcoin is accepted regardless of its effect on TPTB in free nations is a pretty good commentary on WHY these nations lead in technology and therefore standard of living.
Someone good a those meme pictures should come up with something like:
Free Nations: Bitcoin Accepted Here
Someone good a those meme pictures should come up with something like:
Free Nations: Bitcoin Accepted Here
The notorious troll and all of the mainstream brains out there (late and latest adopters) can't realise, that state terror is the reason why Bitcoin was created and the ground on which Bitcoin is growing and prospering.
porc,
That is a lot of future telling. Unsurprisingly, all of your fortune telling ignores technology which the US leads on by a very large margin. Secondary to this is the idea that the future of Bitcoin is dependent upon one nation. It isn't. Bitcoin, the technology, is here to stay and it will become much more valuable as time passes. Forget about your fortune telling and start working toward promoting this technology. Whoever you are, to place yourself by its side, would be a very wise move. Confabulate no more about futures and instead work today to improve a present technology.
That is a lot of future telling. Unsurprisingly, all of your fortune telling ignores technology which the US leads on by a very large margin. Secondary to this is the idea that the future of Bitcoin is dependent upon one nation. It isn't. Bitcoin, the technology, is here to stay and it will become much more valuable as time passes. Forget about your fortune telling and start working toward promoting this technology. Whoever you are, to place yourself by its side, would be a very wise move. Confabulate no more about futures and instead work today to improve a present technology.
"Bitcoin is rat poison".
Rat poison is a useful tool as it removes unwanted vermin.
IT'S A COMPLIMENT TOWARDS BITCOIN YOU DUMB ARSE TROLL.
LOL, OP you've just made yourself look a right dick.
LOL
Rat poison is a useful tool as it removes unwanted vermin.
IT'S A COMPLIMENT TOWARDS BITCOIN YOU DUMB ARSE TROLL.
LOL, OP you've just made yourself look a right dick.
LOL
LOL you idiot.
The title was humorous and that was the joke about it!
LOL. Point is: They see it as a competition. They wont let it in, because they know it might remove their power (=rat poison
). No.
Yeah you keep on backpedaling out of that embarrassing hole you just dug.
How you must be kicking yourself you started this thread now.
LOL"Bitcoin is rat poison".
Rat poison is a useful tool as it removes unwanted vermin.
IT'S A COMPLIMENT TOWARDS BITCOIN YOU DUMB ARSE TROLL.
LOL, OP you've just made yourself look a right dick.
LOL
Rat poison is a useful tool as it removes unwanted vermin.
IT'S A COMPLIMENT TOWARDS BITCOIN YOU DUMB ARSE TROLL.
LOL, OP you've just made yourself look a right dick.
LOL
LOL you idiot.
The title was humorous and that was the joke about it!
LOL. Point is: They see it as a competition. They wont let it in, because they know it might remove their power (=rat poison
). Jump to: