JOE WEISENTHAL calls bitcoin a joke. I'm laughing all the way to the bank. - page 2.

Lauda

legendary

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Terminated.

Quote from: wopwop on November 07, 2013, 02:57:32 PM

You guys are really major assholes lol, got a small penis or smth? Otherwise I can't explain your jaleous and unmanly behaviour

Explain why?
He's an idiot obviously or trying to push the price down. Same stuff with the recent news on how bitcoin is flawed and mentioning 51%, while this has been known for a long time.

wopwop

sr. member

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You guys are really major assholes lol, got a small penis or smth? Otherwise I can't explain your jaleous and unmanly behaviour

inform

newbie

Activity: 42

Merit: 0

i am say price be up 70$

how be price 300 not any trust [look for this guy yelow pres but this say joke buy crypt comunity know what be true future]

Now all gus/clowns/sceptics and etc is panic Shocked

say how you telepatic know about this situation

P.S
i think who realy know now broke how i am and realy cry about this situations how bitcoins up 250$ 300$ maybe next price 400$

Who Know True

thecomputerscientist

newbie

Activity: 48

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Quote from: Ipsum on November 07, 2013, 01:40:07 PM

That is a fundamental misunderstanding among the tinfoil hat crowd on this site.

USD is worth something because ultimately it's backed by an army that can insist you pay your property tax in USD, and because it's backed by the outflow of payments from the US government, which only pays its people and contractors in USD.

No way. The USD wouldn't have its value if China didn't approve it. This is because USD is currently the world reserve currency. U.S. army would not be able to invade China, because China has nuclear weapons. U.S. has 17 trillions of debt and if the creditors (for which China is one) wouldn't approve USD then U.S. will default, USD will collapse and U.S. gov would not be able to finance its army and therefore it wouldn't be able to protect its own nation, and then riots everywhere and the society collapses along with the USD.

Savior

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Quote from: crazy_rabbit on November 07, 2013, 08:37:44 AM

Quote from: philip2000uk on November 07, 2013, 08:29:08 AM

Yep...and that norweigan guy too who had bitcoin sat in his new apartment from the money he made. Grin

I'm sure that guy is kicking himself for not waiting and buying a BIGGER apartment. :-)

He only sold 20% of his coins, he is a believer

dominicwin

member

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Bitcoin made my 401k look like a joke in under a year. I bet this guy wouldn't deny a gift of bitcoin Wink

Ipsum

member

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Merit: 10

Quote from: thecomputerscientist on November 07, 2013, 09:51:04 AM

Weisenthal said that Bitcoin is intrinsically worth nada, and responds to those Bitcoin supporters that say USD by the same definition is worth nada, but Weisenthal then claims that USD is intrinsically worth something because the US government says it is worth something.

Now this is wrong in two aspects:

1) USD is worth something not because the US gov says so, but because China says so. The day China says that USD isn't worth anything, the USD will collapse.

That is a fundamental misunderstanding among the tinfoil hat crowd on this site.

USD is worth something because ultimately it's backed by an army that can insist you pay your property tax in USD, and because it's backed by the outflow of payments from the US government, which only pays its people and contractors in USD.

LiteCoinGuy

legendary

Activity: 1148

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In Satoshi I Trust

Quote from: BadAss.Sx on November 07, 2013, 10:04:35 AM

When China dumps their dollars on the world market, it is over for the US dollar. En China is already pointing to a new world currency and my guess is that Bitcoin is one of the candidates.

no way. we can be happy if they are ok with bitcoin in the long run.

proudhon

legendary

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Intrinsic value, subjective value, objective value...here's my question to Joe: If somebody wants to buy bitcoins, and I have some I want to sell, how much should I sell them for?

Sustainable

member

Activity: 70

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No-one literally cares about this man, for me he has 0 credibility. But he is entitled to his opinion stop defacing his name. The opinion is terribly uninformed but I mean why post phone numbers and stuff please get a life.

justusranvier

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Quote from: BittBurger on November 07, 2013, 10:02:34 AM

Everybody remember this guy's name, so that we can swamp him with "I told you so"'s in 5 years.

I have a list of names of shit talkers on my facebook list who are going to get an earful one day.

That's why I started this thread: https://bitcointalksearch.org/topic/new-units-for-expressing-bitcoin-exchange-rates-journalist-honor-roll-326656

BadAss.Sx

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Bulletproof VPS/VPN/Email @ BadAss.Sx

When China dumps their dollars on the world market, it is over for the US dollar. En China is already pointing to a new world currency and my guess is that Bitcoin is one of the candidates.

The reason why this guy is talking crap about Bitcoin is because they are all politicans. When someone or something is rising up, they starting to throw dirt to it. They are doing the same with Bitcoin, because they can't get a hand on it. Just let them talk...i know for sure they bought a few bitcoins also hahahaha

BittBurger

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Everybody remember this guy's name, so that we can swamp him with "I told you so"'s in 5 years.

I have a list of names of shit talkers on my facebook list who are going to get an earful one day.

thecomputerscientist

newbie

Activity: 48

Merit: 0

Weisenthal said that Bitcoin is intrinsically worth nada, and responds to those Bitcoin supporters that say USD by the same definition is worth nada, but Weisenthal then claims that USD is intrinsically worth something because the US government says it is worth something.

Now this is wrong in two aspects:

1) USD is worth something not because the US gov says so, but because China says so. The day China says that USD isn't worth anything, the USD will collapse.

2) What would happen if China says Bitcoin is the new world reserve currency? At that day Bitcoin will have intrinsic value by his own definition. So the only thing we can conclude is that he thinks that this can never happen.

But it can! China has on multiple occassions wanted to dethrone the USD as world reserve currency and replace it with EDR (Extended Drawing Rights). However, I think that the day will come when China realizes that Bitcoin is a much better solution than EDR. And when that happens, Bitcoin will have a market cap of 10 trillion USD at least which would imply around $1000000 per Bitcoin.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: philip2000uk on November 07, 2013, 08:29:08 AM

Yep...and that norweigan guy too who had bitcoin sat in his new apartment from the money he made. Grin

I'm sure that guy is kicking himself for not waiting and buying a BIGGER apartment. :-)

philip2000uk

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Activity: 276

Merit: 250

Yep...and that norweigan guy too who had bitcoin sat in his new apartment from the money he made. Grin

crazy_rabbit

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Merit: 1001

RUM AND CARROTS: A PIRATE LIFE FOR ME

After reading a particularly nasty piece of 'journalism' : http://www.businessinsider.com/bitcoin-is-a-currency-for-clowns-2013-11

I thought I would create a meme for it.

You should read about his 'investments' in his bio.

Make your own:

here:
http://memegenerator.net/

A bit about our 'friend':

Joe Weisenthal
Prior to joining Business Insider in October 2008, Joe was a correspondent for paidContent.org, as well as the Opening Bell editor at Dealbreaker.com. He previously was a writer and analyst for Techdirt.com, and before that worked as an analyst for money management firm Prentiss Smith & Co.

He got started writing with his own infrequently updated blog TheStalwart.com. A graduate of The University of Texas at Austin, Joe's interests include Chinese food, chess and poker.

He currently has the title of Executive Editor.

Reach him at [email protected] or IM him anytime at openfilerook.

You can also call him at 917-621-7438

Disclosure: Joe's investments include various index funds, gold as well as individual positions in Apple, American Apparel, BP, Google, Johnson & Johnson, Kyocera, Nokia, Sanofi Steelcase, Posco, Omnivision, Berkshire Hathaway (a B share!), Smith & Wesson and AIG.

Read more: http://www.businessinsider.com/author/joe-weisenthal#ixzz2jxgkBUoa

Topic: JOE WEISENTHAL calls bitcoin a joke. I'm laughing all the way to the bank. - page 2. (Read 7508 times)