My challenge to bitcoin - page 7. | Bitcointalksearch.org

emanjun

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Quote from: Alalex on January 13, 2018, 02:14:48 AM

Cripto money now. Trust no challenge dibitcoin, all goes in line with the hope that we know that we only follow the approved rules. Given for the assessment of ourselves how often we can follow the contract that we do. We are given a big reward so we have to prepare an agreed task. Running a contract job is an obligation of all that has been approved, because this is a business trip with a large corporate contract in cripto.
If we are looking for assets in the market of cripto money we jga must meet, so that our investment efforts are going well. I see a lot of the procedures that apply in the rules of cripto money market.

Yeah, in bitcoin we do have to follow the approved rules, it might be simple but we always have still to consider
it..our invested efforts soon will be paid off. Lets just add some hardworks to this...

BillCoin

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USD is not backed by houses and assets as you just stated.
Of course USD can buy assets and houses, but the US government don't need to have X amount of assets/houses in order to produce and print more dollars, that's actually the reason that people afraid of.
We afraid that the national debt will become so high that the US government would need to print more and more money and we will enter hyperinflation mode- a situation where the country's financial system is out of control and it has to override the fixed inflation rate in order to survive.
Gold-backed fiat could be the solution for everything, as it would be impossible to enter such debts, as the country would need to own gold stocks at the same amount of money.

Bolt Brownie

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

I think that it's precisely because of that reason (fiat being backed by debt), that puts the hole system at risk. The financial crisis back in 2007-2008, was caused by the US housing bubble burst. Banks were giving risky loans, everyone was buying a house, the prices of the houses kept going up, people start investing in the house market at huge prices, and when it burst, the houses were worth less than the loans that were previously offered, and everyone lost money. Since banks can print money at will, they can then make risky loans. If their money were backed by something real, and not the debt itself, then they would not have loaned so much money, and maybe the house bubble wouldn't have been created, because people weren't buying so much houses in the first place.

ViceKing

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Yes....

My challenge to bitcoin because I'm investing bitcoin and maining and eran money.
Crypto currency market Price bitcoin level up and i trust bitcoin 500$ up
My challenge bitcoin but i am interest and all people follow them bitcoin.

fanbeila

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Its really surprising to see some one preferring USD instead of bitcoin.We all know that USD is almost in its final stage of enjoying global reserve currency.Its value is mainly due to OPEC nations decision to only sell crude oil in dollars.If all of a sudden,they stop accepting USD,then USD would face a huge crash.Also,USD being printed infinitely is subject to deflation out of which is bitcoin is totally free due to its limited supply.

cordeta

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

You really forgot that Bitcoin is backed with blockchain technologies. Bitcoin serves as the leader in promoting technological improvements. Bitcoin was the start-up of everything, the beginning . and you cannot tell the investors to back out because Bitcoin already took the scene and lots and lots of people are really aware of what bitcoin and all the other crypto currency could bring to them.

destroyer01

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We have to be careful posting. You need knowledge in bitcoin.

binting

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Well my challenge in bitcoin to answering a lot of questions and investing, to earning more coins so that bitcoin is the best challenging that your answers other thrades and different questions so bitcoin is the best challenging to overcome your poverty

andrei56

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Quote from: cpfreeplz on January 28, 2018, 12:03:05 AM

Bravo. A debt backed currency. I 100% agree. Now are you trying to make this sounds like a good thing? Because in reality it's a clusterfuck in a hurricane. Nothing will ever survive by having more and more debt as time goes on. You can only print so much money until your currency and debt is completely worthless and you get liquidated. Maybe you should switch over before that happens. Either way idc, I'm in. If you don't understand it then we'll just see you in 10 years when you have to understand it to survive.

Correct, countries function under the same rules as regular people even if they do not want to believe it, if a person spends more money than he has then that person will eventually lose everything he has and will have to declare bankruptcy, governments are the same except the scale is bigger but the same principle applies so a debt based currency is doom to fail, it does not matter if it happens tomorrow or in a hundred years it will happen eventually.

yvonnegalvan

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

The bitcoin challenges for me is by having an effort and patient by posting in bitcoin, to be clearly by answering the questions.I'm a student so that I can't post everyday because I need to focus on my study just like 60% on my study and 40% by posting in bitcoin.

Leane Lee Natividad Cuenc

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Quote from: Alalex on January 13, 2018, 02:14:48 AM

Cripto money now. Trust no challenge dibitcoin, all goes in line with the hope that we know that we only follow the approved rules. Given for the assessment of ourselves how often we can follow the contract that we do. We are given a big reward so we have to prepare an agreed task. Running a contract job is an obligation of all that has been approved, because this is a business trip with a large corporate contract in cripto.
If we are looking for assets in the market of cripto money we jga must meet, so that our investment efforts are going well. I see a lot of the procedures that apply in the rules of cripto money market.

I agree...as long as we follow the rules and regulation of bitcoin at the end we have reward if we continue our task...my challenge in bitcoin is to be patient in everything you do..as i can see a lot of procedures that to apply inthe rules of crypto money market.all we can do is just to trust Bitcoin..and just prepare for the risk.

lemuelosana

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Quote from: Alalex on January 13, 2018, 02:14:48 AM

Cripto money now. Trust no challenge dibitcoin, all goes in line with the hope that we know that we only follow the approved rules. Given for the assessment of ourselves how often we can follow the contract that we do. We are given a big reward so we have to prepare an agreed task. Running a contract job is an obligation of all that has been approved, because this is a business trip with a large corporate contract in cripto.
If we are looking for assets in the market of cripto money we jga must meet, so that our investment efforts are going well. I see a lot of the procedures that apply in the rules of cripto money market.

Bitcoin challenge me to have patience in all aspects. I challenge on how to be contented in all the things i have right now.

Jeremiesaranza

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin challenges me fo r being more patient effort and be contented what I have more interested .. Bitcoin gives everything in my life

2Godbdglory

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My challenge to bitcoin? Everybody sees tthing with eyes at different angles and perspectives. What some did successfull some peoples failed, there4 we are the challenge behind bitcoin

Ararbermas

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Quote from: Agaton on January 22, 2018, 10:23:32 PM

Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.

you're not reading mate. Op is talking about the currency not the circumstance of the forum, i think you should understand first what is op talking about before you complain. Cause there's a chance maybe the things you said will happen to you cause its seems you're post is not related on this thread.

cpfreeplz

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Bravo. A debt backed currency. I 100% agree. Now are you trying to make this sounds like a good thing? Because in reality it's a clusterfuck in a hurricane. Nothing will ever survive by having more and more debt as time goes on. You can only print so much money until your currency and debt is completely worthless and you get liquidated. Maybe you should switch over before that happens. Either way idc, I'm in. If you don't understand it then we'll just see you in 10 years when you have to understand it to survive.

Yakamoto

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Who's going to back it though? What is there to back beyond having something that requires a ton of electricity and computing hardware to use? There is no central authority to back Bitcoin in any way and the closest you can get to backing it is by having the computing labor back the value of Bitcoin. The debt made by central banks is unsustainable and there is never going to be any way to resolve it all since there is basically more debt in the world than can ever be paid off. It's backed by the constant labor of everyone else that can never really be cashed in either, similar to how Bitcoin will never let you cash in on the computing power used to make it. It's just a token of the energy required to produce a new unit of currency.

trecore4

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

This is way lot confusing post. I tried to read it thrive in real with my eyes wide open. I believe you don't like bitcoin at all because you think that there is no competition of your USD with the bitcoin in terms of how they are backed up with different assets. Agree on that but it's not completely true. The way it seem easier to manage all those backed assets, but it's not the case in reality. The banks work on the principles of liquid money and it flows multi direction all the team. While on the other hand bitcoin is unidirectional and it just work on the principles of peer to peer transfers. The backing doesn't really matter here because what bitcoin has got is the money that we are pushing into it.

That's my understanding about it. There might be no comparison between to as they have different principle of working.

andrei56

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Quote from: ladydark on January 23, 2018, 01:04:57 AM

I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.

If that were to happen the US only has to back their dollars by the amount of gold they have, they cannot go bankrupt, this is what Nixon did in the seventies, the French government realized there were more dollars than gold, but the US government did not adjust the price, so they could buy gold for cheap until Nixon decided to stop the conversion of the dollars for gold and then it was decided the dollar was no longer backed by gold.

ladydark

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I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.

Topic: My challenge to bitcoin - page 7. (Read 1629 times)