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Old 04-11-2013, 04:46 PM   #91
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Re: Bitcoin

The gold standard and Bitcoin are being discussed as serious alternatives to money. Jesus.
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  • Old 04-11-2013, 04:47 PM   #92
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    The dollar is going the way of the Zimbabwe dollar, the only thing keeping it up is OPEC and its petrodollar status. Once that goes, which you have been seeing cracks of for over a decade, the dollar goes with.
    OPEC is carrying the Us dollar now?
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    Old 04-11-2013, 04:49 PM   #93
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    Quote:
    Originally Posted by Beebz View Post
    OPEC is carrying the Us dollar now?
    It's been that way for a very long time. Oil is only traded in dollars.
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    Old 04-11-2013, 04:52 PM   #94
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    It's been that way for a very long time. Oil is only traded in dollars.
    That's far different than pretending that OPEC is the only thing keeping the dollar afloat. You're drawing connections between things that have no relationship.
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    Old 04-11-2013, 04:53 PM   #95
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    Re: Bitcoin

    I take my advice from Peter Schiff, he hasn't been wrong yet.
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    What did I do?
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    Old 04-11-2013, 04:58 PM   #96
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    Quote:
    Originally Posted by Beebz View Post
    That's far different than pretending that OPEC is the only thing keeping the dollar afloat. You're drawing connections between things that have no relationship.
    The entire world has to have the dollar on hand to buy oil, a dollar that is worth next to nothing. If OPEC started trading oil in gold or silver or another currency; the dollar would collapse immediately because nobody would need the dollar anymore.
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    Old 04-11-2013, 04:59 PM   #97
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    The dollar is going the way of the Zimbabwe dollar, the only thing keeping it up is OPEC and its petrodollar status. Once that goes, which you have been seeing cracks of for over a decade, the dollar goes with.
    Ok, so you know nothing.
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    Old 04-11-2013, 05:02 PM   #98
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    Re: Bitcoin

    The dollar is the #1 reserve currency in the world. That's what makes it so central to the world economies. Not oil.
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    Old 04-11-2013, 05:04 PM   #99
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    The entire world has to have the dollar on hand to buy oil, a dollar that is worth next to nothing. If OPEC started trading oil in gold or silver or another currency; the dollar would collapse immediately because nobody would need the dollar anymore.
    You think the world would ever jettison the dollar in favor of precious metals? Seriously?
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    Old 04-11-2013, 05:06 PM   #100
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    Re: Bitcoin

    Only thing I ever do with my money is buy oil. No other uses.

    http://images1.wikia.nocookie.net/__...Gas_Crisis.png
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    Old 04-11-2013, 05:24 PM   #101
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    Re: Bitcoin

    Quote:
    Originally Posted by Beebz View Post
    The people who think all money is going to eventually be bitcoin crack me the hell up
    Quote:
    Originally Posted by Beebz View Post
    The gold standard and Bitcoin are being discussed as serious alternatives to money. Jesus.
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    Old 04-11-2013, 05:26 PM   #102
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    Quote:
    Originally Posted by Beebz View Post
    You think the world would ever jettison the dollar in favor of precious metals? Seriously?
    I we can't really talk in hypotheticals when you're around, since somehow that's all you got from that.
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    Old 04-11-2013, 05:42 PM   #103
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    Re: Bitcoin

    No guys you just don't get it, this ponzi scheme is The Future!!
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    Old 04-11-2013, 05:55 PM   #104
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    Re: Bitcoin

    Quote:
    Originally Posted by justink View Post
    Some people see this as the next Tulip crash.
    thanks for starting this thread. First I heard about his was when some guy in Montana (I think) was trying to sell a house and land but only wanted Bitcoin in exchange. Here is a Businessweek article about it;

    http://www.businessweek.com/articles...onaires#r=most popular

    Last edited by silvercharm; 04-11-2013 at 05:58 PM.
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    Old 04-11-2013, 06:04 PM   #105
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    Re: Bitcoin

    Quote:
    Originally Posted by ToddJoyride View Post
    yeah, once you move off gold standard, or any kind of backing, it's really worth nothing besides what the government tells you
    NO.


    Quote:
    Originally Posted by seekupchuck View Post
    ADDDDDDDAAAAAMMMMM!!!!!!!!?????

    BAH-BAYYYYYYYY!!!!!????

    hahahaha, HOLLAAAAAAAAAAAA
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    Old 04-11-2013, 06:22 PM   #106
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    Re: Bitcoin

    Quote:
    Originally Posted by water_into_wine View Post
    I mean if you believe everything is a fassad for an evil Zionist conspiracy, yeah maybe the dollar isn't for you.
    awww...u dick, I was mocking us conspiracy folks, not u

    but yes, if you must reiterate, the vast majority of folks in control of banks and currencies are Jewish Zionists...but not all, geez, come off it, dont be racist

    I dont even see how that would be relevant to this discussion

    for anyone reading this, I know Black Yony, and he ISNT racist, despite his particular train of thought here

    Quote:
    Originally Posted by ToddJoyride View Post
    I take my advice from Peter Schiff, he hasn't been wrong yet.
    this.

    Quote:
    Originally Posted by Beebz View Post
    You think the world would ever jettison the dollar in favor of precious metals? Seriously?
    Beebz, it is certainly conceivable(well, maybe not from a narrow minded person like yourself), that alternate world currencies, perhaps tethered to some type of commodity, like a basket of PMs, could replace the current unsustainable fiat paradigm...so drop the know it all schtick eh?
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    Old 04-11-2013, 06:26 PM   #107
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    Re: Bitcoin

    And you didnt even come close, Black Tone, on your spelling of "facade"..though, in your defense, I think you may have conflated "Mossad" and "facade" in your mind and joined them into a fun new word!

    can I use that dude!?


    "You obviously aren't seeing past the gov't Fassad concerning 9/11"

    YES!!!
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    Old 04-11-2013, 06:35 PM   #108
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    And the dollar being the worlds reserve currency means that commodities like gold and OIL are traded in dollars, meaning the entire world needs lots of dollars. If OPEC started trading oil for other currencies or commodities, there would be no use for these TRILLIONS upon trillions of dollars floating around the world, and we would be screwed.
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    Old 04-11-2013, 06:39 PM   #109
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    And the dollar being the worlds reserve currency means that commodities like gold and OIL are traded in dollars, meaning the entire world needs lots of dollars. If OPEC started trading oil for other currencies or commodities, there would be no use for these TRILLIONS upon trillions of dollars floating around the world, and we would be screwed.
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    Old 04-11-2013, 06:42 PM   #110
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    Re: Bitcoin

    Quote:
    Originally Posted by seekupchuck View Post
    awww...u dick, I was mocking us conspiracy folks, not u

    but yes, if you must reiterate, the vast majority of folks in control of banks and currencies are Jewish Zionists...but not all, geez, come off it, dont be racist

    I dont even see how that would be relevant to this discussion

    for anyone reading this, I know Black Yony, and he ISNT racist, despite his particular train of thought here
    Pretty weak attempt here. 2/10

    Quote:
    Originally Posted by seekupchuck View Post
    And you didnt even come close, Black Tone, on your spelling of "facade"..though, in your defense, I think you may have conflated "Mossad" and "facade" in your mind and joined them into a fun new word!

    can I use that dude!?


    "You obviously aren't seeing past the gov't Fassad concerning 9/11"

    YES!!!
    Oops. My bad

    Better post 5/10
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    Old 04-11-2013, 06:43 PM   #111
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    Re: Bitcoin

    This "oil-is-the-center-of-all-trade-and-also-the-universe-and-cosmos-and-other-stuff" is killing me.
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    Old 04-11-2013, 06:45 PM   #112
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    Re: Bitcoin

    Chuck, we both agree that Bitcoin is worse than the dollar right? Doesn't Bitcoin have to embody the worst of our system in your mind?
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    Old 04-11-2013, 07:01 PM   #113
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    Re: Bitcoin

    Quote:
    Originally Posted by water_into_wine View Post
    Chuck, we both agree that Bitcoin is worse than the dollar right? Doesn't Bitcoin have to embody the worst of our system in your mind?
    This is a loaded question Sir! But yes, "wtf is a Bitcoin" is pretty much my take on it...seems to be a good method for me to maybe track down some DMT or Ayahausca and feel safe doing it(not really) but, yea, I dont see it going anywhere...the dollar will be fucked eventually though and likely need to be replaced...fortunately, this will likely coincide with the global system being reset...but now I am drifting into very vague dystopic wet dreams...so, to answer your question, yes, it is worse than the dollar...but no, I dont think the general idea embodies the worst of the system...not at all...I really would need to get far more acclimated with Bitcoin to give a more detailed opinion as it relates as a real alternative currency option, conceptually.
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    Old 04-11-2013, 07:04 PM   #114
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    I would love to hear where the value of the dollar comes from if it isn't backed by the oil that it is traded for worldwide.
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    Old 04-11-2013, 07:16 PM   #115
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    I would love to hear where the value of the dollar comes from if it isn't backed by the oil that it is traded for worldwide.
    Just wondering what you think of this:
    http://research.stlouisfed.org/fredgraph.png?g=hrJ
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    Old 04-11-2013, 07:33 PM   #116
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    I would love to hear where the value of the dollar comes from if it isn't backed by the oil that it is traded for worldwide.
    How about the most powerful economy in the world?
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    Old 04-11-2013, 07:41 PM   #117
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    Re: Bitcoin

    Quote:
    Originally Posted by robthomas View Post
    Just wondering what you think of this:
    http://research.stlouisfed.org/fredgraph.png?g=hrJ
    it looks like, and correct me if I'm wrong, the value of the dollar against the value of oil? Not surprising oil has surpassed it.

    Quote:
    Originally Posted by water_into_wine View Post
    How about the most powerful economy in the world?
    if the power of an economy or size of GDP, determined the value of it's currency, the top 5 highest valued currencies in the world would not be

    1. Kuwait
    2. Bahrain
    3. Oman
    4. Latvia
    5. Falkland Islands

    The dollar used to be the highest valued currency. those days are long gone.
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    Old 04-11-2013, 07:46 PM   #118
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    I would love to hear where the value of the dollar comes from if it isn't backed by the oil that it is traded for worldwide.
    Remember when Saddam Hussein didn't want to trade oil in US Dollars anymore? What ever happened to him?

    http://archives.cnn.com/2000/WORLD/m....un.euro.reut/
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    Old 04-11-2013, 07:47 PM   #119
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    Re: Bitcoin

    Quote:
    Originally Posted by bonzo48280 View Post
    it looks like, and correct me if I'm wrong, the value of the dollar against the value of oil? Not surprising oil has surpassed it.
    So, speaking in hypotheticals here........ if a commodity dictates the value of a currency, would you expect there to be a correlation between the two?
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    Old 04-11-2013, 07:48 PM   #120
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    Re: Bitcoin

    remember what happened to that guy in Libya when he said he was going to start a new currency based off of gold with other north African countries for oil? What happened to him?
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