Quote from: lm2f on February 11, 2018, 12:49:43 AM

Quote from: o_e_l_e_o on February 10, 2018, 11:22:46 PM

Quote from: lm2f on February 10, 2018, 10:53:04 PM

The USD is backed by a government with a $1 trillion+/yr military that consists of ICBMs, aircraft carriers, stealth bombers, etc. Gold has some limited industrial uses. Equity shares are backed by corporations with current or future expected earnings. What is bit coin backed by?

The USD is backed by a government that is 20 trillion dollars in debt, with an inflation rate of 2% and forecasted to climb as the government regularly prints more money as and when they see fit. Only about 10% of the world's gold is used by industry - the price is artificially inflated because it is a ponzi scheme by your definition.

Still better than bit coin, that lost 70% of it's value in a month.

That %70 increase was never the natural growth for Bitcoin, if somebody has 3 Million Bitcoins and wants to dump them all, Bitcoin price would fall by 70% and why would anybody dump 3 Million Bitcoins like that? because they need FIAT and have 80 Million terrorists to look after, keeping their people is more important.

Who would give 3 Million Bitcoins to a terrorist nation? a country like India, China etc, and when the dump is over, another country would start pumping the price back up.

Disclaimer: I'm still a virgin, I'm begging you don't send somebody to kill me for telling the truth a.k.a evil intentions, nuclear bombs and end of the world.