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Topic: Federal reserve banker calls bitcoin small potato! - page 2. (Read 3134 times)

full member
Activity: 126
Merit: 101
Be Here Now
it amazes me how people who are considered at the top of their profession.. can be so resistant to new changing ideas. it's like they grasp onto their old ideas for death. if we look throughout history, it's the new thinkers who create the next step in human evolution.. so why are these "conventional wisdom" guys so hellbent on sticking to their philosophy? it's like they don't know that everything in the world is changing constantly.

i don't really know it bitcoin will be revolutionary, but at this point i'd say you definitely can't count it out.

These people are all old school money from the old school brotherhood. Their entire lives are deeply entrenched in fiat...it's all they know. They've also set themselves so high in their untouchable ivory towers that they genuinely believe they own the world. So anything new and helpful for anyone else but themselves, they'll dismiss.

I think the way to get bitcoin as the official US currency is to head up a massive national bitcoin marketing campaign showing politicians how easy it is to take bribes and secure their wealth without the IRS knowing shit about it or taxing it...and even to hire hit men to off their competition! AND it will pretty much end bank robberies (the old fashioned kind anyway).

They'll turn off the printing presses in 24hrs and make it a mandatory currency  Grin
full member
Activity: 126
Merit: 101
Be Here Now
They have had 200+ years to make the dollar work. Bit coin has existed less than 5 years and is all ready superior in most ways and catching up in the others. I consider the dollar to be small potatoes. 

Winner.

I think that argument/bullet point is the one I'm going to officially adopt as of now when talking to people about the benefits of bitcoin.
sr. member
Activity: 434
Merit: 250
it amazes me how people who are considered at the top of their profession.. can be so resistant to new changing ideas. it's like they grasp onto their old ideas for death. if we look throughout history, it's the new thinkers who create the next step in human evolution.. so why are these "conventional wisdom" guys so hellbent on sticking to their philosophy? it's like they don't know that everything in the world is changing constantly.

i don't really know it bitcoin will be revolutionary, but at this point i'd say you definitely can't count it out.
sr. member
Activity: 350
Merit: 250
Basically he says USD is better because with USD you're losing your purchasing power at a predictable rate. Lol.


What a fucking joke. What a fucking moron.

But that IS the primary benefit of USD.  Stability is the single most desirable attribute for a currency to have.

If BTC had a user base that was the same size as the USD's then the purchasing power would be a lot more stable.  Stability will come with time as adoption grows.  That doesn't happen overnight.  It will take time.  Those who want stable (but steadily rising) purchasing power will just have to be patient.

I agree with you.  But never the less it doesn't change the fact that as of RIGHT NOW, USD is much more stable, and that is a very desirable attribute for a currency to have (and of course, a very small, but completely stable, steady decline in value of the currency is extremely beneficial to them.  And in theory anyways, all of us).   Anyways, I wasn't trying to start an argument but simply point out that what he said about the value\usefulness of USD is 100 percent right.  He is not at all a "fucking moron".  Listen, we all here want this thing to succeed.  That doesn't however mean that anyone that says anything even remotely disparaging about BTC is a "fucking moron". 
newbie
Activity: 36
Merit: 0
Weird the fed hates bitcoin... Maybe because they can't continually print and devalue it like the dollar
sr. member
Activity: 434
Merit: 250
I can see the position, because it is in the interests of shareholders and in protecting his and their interests. They are wrong however, and Bitcoin will reign over fiat. It is only a matter of time.
newbie
Activity: 48
Merit: 0
Watched the video. This guy is an arrogant ass.
sr. member
Activity: 406
Merit: 250
They have had 200+ years to make the dollar work. Bit coin has existed less than 5 years and is all ready superior in most ways and catching up in the others. I consider the dollar to be small potatoes. 
hero member
Activity: 1372
Merit: 783
better everyday ♥
I'm a yam person, myself.




Can't wait until these "yams" grow up, so we can all have some sweet potatoe pie.   Cheesy
legendary
Activity: 4410
Merit: 4766
so far i have loved the two experts of FIAT's analogies of bitcoin

bitcoin is rat poison
i agree bitcoin is the poison that will kill the rat race of fiat

bitcoin is small potato
i agree average joe buys more potatos then gold. meaning potato's and bitcoin is more relvant and preferred by people than gold is
sr. member
Activity: 616
Merit: 250
What's a FED? o yea, the Queen of Bailout Queens, and QE to Infinity Clowns. Yea, right...

 Experts? At the FED? Maybe so, at Rewarding Failure after Failure and completely failing their "Official" Objectives for the entire 100 last years running.

Bailout Queens are not required to apply here. 
There wont be any Bailouts for Losers in Bitcoin.
So those at the FED would not care for this, at all.
Case Closed. O, and soon...Checkmate=FED Gone!


The FED is the Past and Present.

Step #1 END THE FED.




Bitcoin is a Big Part of The Future.




newbie
Activity: 14
Merit: 0
We are all potatoes here
One potato, two
But you, you are the sweetest.
legendary
Activity: 4410
Merit: 4766
bitcoin is a small potato.

and look at th success of the potato.

french fries
potato chips (crisps to us brits)
mashed potato
potato fritters
hash browns
waffles

the potato is more a part of everyones daily life then anything.

more people eat and buy potato's world wide then gold or the US dollar
legendary
Activity: 888
Merit: 1000
Monero - secure, private and untraceable currency.
  • Bitcoin will force traditional institutions to adapt or die.

Thing is, they can't adapt. They will die, and they should die, at least good part of them...
legendary
Activity: 3906
Merit: 1373
Bible:

Matthew 13:31,32
He told them another parable: “The kingdom of heaven is like a mustard seed, which a man took and planted in his field. Though it is the smallest of all seeds, yet when it grows, it is the largest of garden plants and becomes a tree, so that the birds come and perch in its branches.”

Matthew 17:20
He replied, “Because you have so little faith. Truly I tell you, if you have faith as small as a mustard seed, you can say to this mountain, ‘Move from here to there,’ and it will move. Nothing will be impossible for you.”

Luke 13:19
It is like a mustard seed, which a man took and planted in his garden. It grew and became a tree, and the birds perched in its branches.”

Luke 17:6
He replied, “If you have faith as small as a mustard seed, you can say to this mulberry tree, ‘Be uprooted and planted in the sea,’ and it will obey you.

Smiley
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
Pretty expected as far as what he says. Its not like the fed is going to come out and endorse BTC and point out the ways it is better than USD
Yep. Nation-state fiat banking is a religion, economics is the pseudo-science which supports it. This would be roughly tantamount to McCarthy endorsing Communists in the fifties.
legendary
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
Pretty expected as far as what he says. Its not like the fed is going to come out and endorse BTC and point out the ways it is better than USD
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
Sounds familiar.

Consider the following: With each passing day, the supply of fiat increases, while the supply of Bitcoin decreases. Now class, who can tell me how scarcity affects the value of a freely-traded commodity?

This game only has one possible outcome. You will join us now, or you will find yourself working for us - for Bitcoin - one day soon.







Resistance is futile.
hero member
Activity: 854
Merit: 1000
Bitcoin: The People's Bailout
Basically he says USD is better because with USD you're losing your purchasing power at a predictable rate. Lol.


What a fucking joke. What a fucking moron.

But that IS the primary benefit of USD.  Stability is the single most desirable attribute for a currency to have.

If BTC had a user base that was the same size as the USD's then the purchasing power would be a lot more stable.  Stability will come with time as adoption grows.  That doesn't happen overnight.  It will take time.  Those who want stable (but steadily rising) purchasing power will just have to be patient.
legendary
Activity: 1512
Merit: 1012
what a problem ... btc win : 21,000,000.000m000µ  Grin
more number than gold.

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