Unbelievable Idiot! - page 2. | Bitcointalksearch.org

HammerFist

newbie

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Quote from: N12 on October 14, 2013, 08:07:32 AM

You guys are ridiculous.

He's right that Bitcoin isn't a unit of account since people price their goods and services in USD/EUR to BTC rates rather than Bitcoins themselves. Would you intuitively know how much a coke is in BTC? I bet you can do it for your local fiat currency though.

I should continue the criclejerk though: He say bad about Bitcoin, he bad! He know nothing! Angry

Loads of people say bad about bitcoin. No problem. There is lots bad about it.

But to say bitcoin isn't a 'unit of account' because people don't price goods in it - is just plain stupid. 'unit of account' has far greater meaning than 'people price goods in it'. A professor at Columbia should not be arguing that because goods are not priced in bitcoin, it is not a unit of account. Furthermore, people are beginning to price things in bitcoin - without regard for dollar or euro equivalent. In one example, Mastercoin just raised a shitload of money on the notion of 1BTC = 100MSC - with no regard whatever for the value of dollar. There are many more similar pricings each day. But these are not necessary in order that bitcoin be considered a 'unit of account'.

OleOle

hero member

Activity: 532

Merit: 500

Are you like these guys?

Quote from: balanghai on October 14, 2013, 05:48:10 AM

The IMF pays him because they're too late to mine. Grin

Hahaha! Quality Cheesy

N12

donator

Activity: 1610

Merit: 1010

You guys are ridiculous.

He's right that Bitcoin isn't a unit of account since people price their goods and services in USD/EUR to BTC rates rather than Bitcoins themselves. Would you intuitively know how much a coke is in BTC? I bet you can do it for your local fiat currency though.

I should continue the criclejerk though: He say bad about Bitcoin, he bad! He know nothing! Angry

HammerFist

newbie

Activity: 42

Merit: 0

Quote from: franky1 on October 14, 2013, 07:57:50 AM

oil... thats only doubled in price in 5 years.. thats 20% a year...

Actually, about 14%

HammerFist

newbie

Activity: 42

Merit: 0

Quote from: greyhawk on October 14, 2013, 07:54:36 AM

Quote from: HammerFist on October 14, 2013, 07:44:01 AM

Why don't you stick to the real topic - the guy hasn't got a clue about money.

Which is why he's been called the "guru of Wall Street gurus". Good thing we have noted Jägerbomb addict and bitcointalk forums user 152724 aka "Hammerfist" here to tell us all the truth.

Which moron called him that? Did you listen to the interview where he describes what he thinks of bitcoin which can't be considered money? If he were actually a guru, why doesn't he have enough money for a diet doctor?

franky1

legendary

Activity: 4270

Merit: 4534

Quote from: Ekaros on October 14, 2013, 07:49:59 AM

These experts... If they are so good why are they working for someone else?

I think that either you go in long term or do the obvious bids. I wish I had invested in oíl in 2008, didn't have the money or the knowledge of how to though. It should have been pretty clear that in long run it would go back up from there.

oil... thats only doubled in price in 5 years.. thats 20% a year...

.. but bitcoin.. well if i had some in 2009 and cashed out today.

but anyways i bought up in 2012 and im happy, definetly happier then a 5 year wait on oil

greyhawk

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Activity: 952

Merit: 1009

Quote from: HammerFist on October 14, 2013, 07:44:01 AM

Why don't you stick to the real topic - the guy hasn't got a clue about money.

Which is why he's been called the "guru of Wall Street gurus". Good thing we have noted Jägerbomb addict and bitcointalk forums user 152724 aka "Hammerfist" here to tell us all the truth.

Ekaros

hero member

Activity: 728

Merit: 500

Quote from: franky1 on October 14, 2013, 07:11:43 AM

what you also find is that people that want to buy in while cheap, wont tell many people about it, thus keeping prices down. they will also spread fud to sway people away, again keeping prices down..

eventually once they have eating their lot and cant get anymore, they will change over and say its great everyone should buy.. to cause a ramp on the price.

its standard banking and stock practice.. whatever the 'advisors' say... do the opposite. usually advisors short term advice pays off but the bigger picture is the opposite.

EG
this commodity is tanking sell sell sell..

this in real world proper advice means.
dont sell at a loss, instead buy to average out the costs, to get more commodotys cheaper and wait for the flash crash to correct to be in profit.

These experts... If they are so good why are they working for someone else?

I think that either you go in long term or do the obvious bids. I wish I had invested in oíl in 2008, didn't have the money or the knowledge of how to though. It should have been pretty clear that in long run it would go back up from there.

HammerFist

newbie

Activity: 42

Merit: 0

Quote from: posormo on October 14, 2013, 07:24:50 AM

Quote from: HammerFist on October 14, 2013, 05:04:06 AM

Besides that, look at what a bloated fat slouch the guy is. Hasn't he any self respect?

Dude is handicapped. Would the unbelievable idiot be you?

Quote from: greyhawk on October 14, 2013, 06:20:50 AM

You're aware the guy is handicapped and can't really walk all that good and stuff?

Can't walk eh? Looks like he can walk to the restaurant just fine... http://aktien-blog.com/wp-content/uploads/06-stiglitz-l_greenwald.jpg and http://fundooprofessor.files.wordpress.com/2008/04/g02.jpg

He's got a mouth right? Well, then he can stop shoving food in it.

Why don't you stick to the real topic - the guy hasn't got a clue about money.

posormo

member

Activity: 109

Merit: 10

Quote from: HammerFist on October 14, 2013, 05:04:06 AM

Besides that, look at what a bloated fat slouch the guy is. Hasn't he any self respect?

Dude is handicapped. Would the unbelievable idiot be you?

leemar

full member

Activity: 193

Merit: 100

I think some "clever" people are going to look rather silly one day.

At least he didn't call it rat poison like Charlie Munger.

franky1

legendary

Activity: 4270

Merit: 4534

what you also find is that people that want to buy in while cheap, wont tell many people about it, thus keeping prices down. they will also spread fud to sway people away, again keeping prices down..

eventually once they have eating their lot and cant get anymore, they will change over and say its great everyone should buy.. to cause a ramp on the price.

its standard banking and stock practice.. whatever the 'advisors' say... do the opposite. usually advisors short term advice pays off but the bigger picture is the opposite.

EG
this commodity is tanking sell sell sell..

this in real world proper advice means.
dont sell at a loss, instead buy to average out the costs, to get more commodotys cheaper and wait for the flash crash to correct to be in profit.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

He's a stock guru, not a commodity guy: http://www.youtube.com/watch?v=39so_a2qKEI

Leehoya

full member

Activity: 140

Merit: 100

Let him go some exchange and see what is one bitcoin. He probably dont know much about bitcoins. Cheesy

Zakryze

sr. member

Activity: 308

Merit: 250

lets give that guy a clue and price a bitcoin with eh lets say uhm errrrr one bitcoin?
All those cryptocurrencies are valued in bitcoin already so someone hasnt done his research i'd say.
I can also write checks with bitcoins like print qr codes of a bit of a bit.
I wish that guy had done his homework really but its nice to see idiots act like dinosaurs.

herzmeister

legendary

Activity: 1764

Merit: 1007

even if people won't price everything in bitcoins in the foreseeable future, what gives?

Bitcoin is a global, non-bureaucratic, cheap value transfer system that uses its own digital tokens, simple as that.

maybe people will (have to) learn to see that there can be many different forms of moneys and value systems and learn to use them in parallel.

and if there are no more fiat currencies anymore one day because nation states collapse, while Bitcoin still being too unstable (maybe because of), the Bitcoin value maybe will be denominated in other commodities like gold, silver, or other indices or baskets of goods (which don't have to be "physical" currencies, just indices).

greyhawk

hero member

Activity: 952

Merit: 1009

You're aware the guy is handicapped and can't really walk all that good and stuff?

HammerFist

newbie

Activity: 42

Merit: 0

Quote from: pand70 on October 14, 2013, 05:20:08 AM

Quote from: HammerFist on October 14, 2013, 05:04:06 AM

Besides that, look at what a bloated fat slouch the guy is. Hasn't he any self respect?

Wow kido! You really hate everyone that argues against bitcoin aren't you?

You can argue against bitcoin all day and I won't hate you. But if you eat too many bacon sandwiches and get all fat and blobby and sit in a chair as if you don't have a spine to hold yourself up, then I am going to call you out for it.

It is shocking how incredibly dumb an esteemed Columbia professor can be. The guy's argument is profoundly idiotic. How in the world does the university send this guy money every month?

balanghai

sr. member

Activity: 364

Merit: 253

The IMF pays him because they're too late to mine. Grin

Liquid

hero member

Activity: 826

Merit: 500

Crypto Somnium

This made me chuckle Cheesy

As you can see he is soo last gen when it comes to banking/finance someone does not want to embrace change Roll Eyes

Not one good thing to say about bitcoin = No idea about Bitcoin

Topic: Unbelievable Idiot! - page 2. (Read 4487 times)