New Cryptocurrency: Bitcoin Cash

[Reaver]

You call the biggest military in the world nothing ?

You're the perfect example of someone who has no idea what they're talking about. The biggest military in the world isn't backing up the US dollar. There is NOTHING backing the US dollar. Not a single thing, except the belief that the paper we pass around has value.

Who the hell uses their military to back up money? "Yes, this dollar is worth approximately one soldier."

What the hell are you on about?

 

[CyberHour]

"Yes, this dollar is worth approximately one soldier."

Thank you! Nice one!

 

[Fragmaster]

I love you all guys and girls
I sometimes feel bhw is only place where people can discuss things they disagree about in a civil manner.

 

[ThopHayt]

You're the perfect example of someone who has no idea what they're talking about. The biggest military in the world isn't backing up the US dollar. There is NOTHING backing the US dollar. Not a single thing, except the belief that the paper we pass around has value.

Who the hell uses their military to back up money? "Yes, this dollar is worth approximately one soldier."

What the hell are you on about?

Actually confidence in the US economy (and its ability to pay back its debts) is what backs the US dollar... that and the same thing that backs BC, scarcity (the fact that there are a limited number of dollars). A strong military only boosts confidence though, and were the US somehow legitimately worried about a takeover it WOULD affect the dollar's value.

-ThopHayt

 

[Cryptojunky]

On which military you are refering ? USA?
USA have NOTHING to backup their dollars, the National debt of United States is over $19 TRILLIONs ! They don't have the gold nor the diamonds/petrol to cover it!
China control USD and BTC , like it or not!

We accept BTC from day one, do we sell drugs and anything illegal? NO! Do we scam our customers? NO! Do we respect our customers' privacy rights? Yes, we do! Are we against illegal activity? Yes, we are!

You're the perfect example of someone who has no idea what they're talking about. The biggest military in the world isn't backing up the US dollar. There is NOTHING backing the US dollar. Not a single thing, except the belief that the paper we pass around has value.

Who the hell uses their military to back up money? "Yes, this dollar is worth approximately one soldier."

What the hell are you on about?

Both of you guys have clearly no understanding what you are talking about and surely not about real economy.
Everyone in the world is paying hidden taxes to the US which makes the USD stable.
You belong to the people who just don't realise it.
It has a reason why the US has in every second country a military base.
When you guys have real goods which have real value and you are forced to sell it using USD what do you guys think is the USD in that curricumstance ?
Its a nice hidden weapon of the US to tax the whole world in a simple way.They just need to increase
QE and all the countries with their real goods are paying for it in a not visible way for the crowd.
Its so easy to manipulate the crowd its just horrible.

The next argument that china controls BTC and USD.This is total crap.
China has a big amount of worthless USD they need to spend using the Euro as Proxy.
If you would have some economic background you would understand that the US is paying with toiletpaper which China can't use directly to get the demanded goods since its being controled by the US.
The fight between China and US about energyresources,mines,agricutur etc you think why is that happening ?
Bitcoin is not controlled by China at all.Thats total bs.Bitcoin is a project which is being pushed by most countries china included.
US tried to use bitcoin in the past as a way to flood china with uncontrolled money which has lead to a bitcoin ban in china for a short time.

USA have NOTHING to backup their dollars, the National debt of United States is over $19 TRILLIONs ! They don't have the gold nor the diamonds/petrol to cover it!

Another poor statement.First of all the US has enough gold to cover it debts.Its china which demands gold from the US to get their currency to a world currency.
Second about the debt.If you would think a little bit longer maybe you would realise that debts are no important anymore for big companies,organisations or governments.
Why ?
Because when lending today money they need to pay back less thanks to negativ interrest rates.
Once virtual money has been implemented and all interrest rates will be negativ they don't need to care about debts anymore.
It can be wiped out in a single day.

 

[seoguy0]

can anyone explain simply how are these two different in a practical way?

 

[SOCOM]

Did this forum turn into Cryptoworld.com ?

 

[CyberHour]

Did this forum turn into Cryptoworld.com ?

 

[Fragmaster]

Did this forum turn into Cryptoworld.com ?

better than IG+OGADS in 2016

 

[Reaver]

Once virtual money has been implemented and all interrest rates will be negativ they don't need to care about debts anymore.
It can be wiped out in a single day.

@mickyfu We were clearly wrong. This is why BTC is the future.

Better alert PP.

The US may have enough gold to pay off its debts but it's not going to use it. You now what it's doing with that gold? Hoarding it. Hiding it. Burying it. While it's steadily printing money in an amount of notes that do not equate to what it has stored in its treasury.

I can't argue with insanity. I've tried it once. I failed. So I'm just going to go do something else with my time.

Actually confidence in the US economy (and its ability to pay back its debts) is what backs the US dollar... that and the same thing that backs BC, scarcity (the fact that there are a limited number of dollars). A strong military only boosts confidence though, and were the US somehow legitimately worried about a takeover it WOULD affect the dollar's value.

-ThopHayt

Can I pay my credit cards off with confidence? Confidence isn't tangible. It's a feeling. And that feeling is what's backing the US dollar.

The US dollar is being backed by an emotion.

So, like I said before, it's being backed by nothing.

There is actually no shortage of money in the world. If there was, we wouldn't have millionaires, billionaires and trillion-dollar companies.

The problem is a limited number of people hoard the money. That's why people think there's a limited amount of money. There really isn't. The people on this forum prove that when they dump thousands into BTC. There's more than enough money to go around.

Now, I agree that there are a limited amount of BTC. But they are being bought and sold like there aren't.

 

[ThopHayt]

Can I pay my credit cards off with confidence? Confidence isn't tangible. It's a feeling. And that feeling is what's backing the US dollar.

Well confidence is a staple of modern economics, consumer confidence for instance. And it isn't an emotion, so much as it is the weighed likelihood of stability. And the US is judged by banks, and investors world-wide to be a highly stable investment relative to other nations. If the UK's stability, and ability to pay back its debt were judged to be better than the US then you'll see the British Pound grow in value relative to the dollar. This, combined with active money supply, is how/why currencies move relative to each other. Do governments and maybe even banks or individuals game this from time to time (China actively devalues their money) yes, but these are the basics on modern currencies. BTC was invented to mimic the behavior and scarcity of gold, not currency, though... so drawing parallels between BTC and dollar behavior is a bit apples to oranges. In theory BTC should behave historical how gold and other precious metals have. I don't want to delve too far into an economics lesson, but these are all things to keep in mind before you decide to play around in either the virtual currency markets or the currency markets. Both of which are highly volatile.

-ThopHayt

 

[JV1999]

And the fact that people actually buy and sell things using real money. Whereas crypto tends to have to be converted into real money to buy, unless you are trying to score meth.


Yeah, it's great for buying drugs, illegal gambling, money laundering, scamming, anything illegal in general.

However I'm having difficulty explaining the value of my Bitcoin to the bar tender that wants paying.

I told him I had left my wallet at home, but fear not, I have an imaginary wallet with imaginary money in it, on the inter webz.

And the fact that people actually buy and sell things using real money. Whereas crypto tends to have to be converted into real money to buy, unless you are trying to score meth.


Yeah, it's great for buying drugs, illegal gambling, money laundering, scamming, anything illegal in general.

However I'm having difficulty explaining the value of my Bitcoin to the bar tender that wants paying.

I told him I had left my wallet at home, but fear not, I have an imaginary wallet with imaginary money in it, on the inter webz.

LOL I still don't quite get the value either. It's like you look crazy telling people it's worth because there's always miners on their computers putting in effort that makes the imaginary cash valuable

 

[JV1999]

Where did you sell your Bitcoin cash?

Kraken

 

[Stealth Kill]

aren't all alt coins based on bitcoin?

 

[JV1999]

Why ?Banks are doing it for decades creating virtual money by a single button


You call the biggest military in the world nothing ?

Banks virtual number balanceso are based on vault Paper money. Paper money is based off fort Knox gold

 

[Reaver]

Both of which are highly volatile.

I can agree with this.

I'm out of this thread. Economics aside, I really don't give a shit about the future of cryptocurrency, especially since I have no desire to invest in it. Ever.

 

[BibleNsword]

Awesome thread!! Just wanted to say that the whole BCH scene seems like a good opportunity. I am sure if one coin drops off the other will go up so just saying "never put all your money in one bank" cant wait to see the changes BCH and BTC will have on each other or other coins in the future.

 

[JV1999]

I read some news articles, it looks like BCH's price is being pumped by investors and not actual. . . coin merits.

While I slept I put in an order for $150 for BCH hoping it would get filled. The price never dropped below 300 meanwhile, but somehow my order got filled probably because kraken went down.

So when I woke up I sold my BCH for 397. . . and i'm like blinking.

It went from free money from thin air, to raining diamonds. . . from thin air. If magic exists, it's crypto XD

but from what I could gather, BCH is new af and all the software is still untested. Not only that, the price is only spiking because everyone is speculating.

On aug 8 the real btc is going to adopt segwit. . . which could be disastrous for BCH. So basically, best thing to do is take your BCH risks now -- then jump from the potential titanic around aug 7 - 8.

 

[bartosimpsonio]

So when I woke up I sold my BCH for 397. . . and i'm like blinking.

It went from free money from thin air, to raining diamonds. . . from thin air. If magic exists, it's crypto XD

but from what I could gather, BCH is new af and all the software is still untested. Not only that, the price is only spiking because everyone is speculating.

On aug 8 the real btc is going to adopt segwit. . . which could be disastrous for BCH. So basically, best thing to do is take your BCH risks now -- then jump from the potential titanic around aug 7 - 8.

BCH now worth over 600 dollars.

Crypto definitely is something weird. I don't think the BTC market cap dropped as much as BCH gained. There *was* some money generated out of thin air. This is what banks do IRL LOL

 

[PinguSpy]

To buy this shit or not to buy?

Possibility

1. The next big thing? it will kill BTC, since BTC only have 1MB block size and the the price from $600will jump to $3k-$4k+
or...
2. It just typical pump and dump before it goes down..

who knows

crypto is hard as hell to predict