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Bitcoin's "COO" Explains What Bitcoin Is
With Bitcoin's erstwhile founder (according to NewsWeek) denying it all, we thought it might be useful to hear from 'the horse's mouth' just what Bitcoin is. While many have heard "shit bitcoin fanatics say", Conan O'Brian's interview ith the "Bitcoin COO" is full of clarifying knowledge... (and sadly reflects most people's perspective still on the virtual currency space)
And Bitcoin's COO explains it all...
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IF there is going to be a financial collapse, why would you want to be debt free?
If anything if someone told me banks were going to fail tomorrow, I WOULD RUN OUT AND BORROW EVERY DOLLAR I COULD!
IDK but ever since I got into crypto-currency, i have stopped frequenting Zero Hedge I just don't come around here much anymore to read this stuff, and actually I am atleast 30% more happy now, and! my bank account is atleast 900% up, i think people come on here mostly to read about how bad the world is, as if it makes them feel better about their own situation, like some kind of sick sadistic reverse mind un-fuck high they get from reading news and looking at meaningless charts that are supposed to always be "the most scariest chart ever u will see" or "the chart that says the world is going to crack in half because LOOK THE SQUIGGLY CROSSES THE OTHER SQUIGGLY" ZOMG KILLER SQUIGGLY CHARTS EVERYWHERE RUN FOR THE HILLS BUY GOLD!
I think its because zerohedge is filled with people who care more about what other people are doing with their money than , what they themselves are doing with their own money, you know the kind of people that think they always have the best answers for everyone else's situation, yet they themselves never improve their own situation to begin with.
Anyway, guys its been fun, and the video was funny.
In B4
"Troll"
"The zombie apocalypse will wipe out your bank accnt, buy gold"
"The super mega financial collapse is going to bankrupt you oooga booga give me your money and take this silver"
"Real money is gold and silver it has INTRINSIC VALUE™" wtf is that supposed to mean? anyway? my freaking carpet has "intrinsic value" you don't see me hoarding carpets...
Anyway have fun making fun of successful enterprises and pretending they are failures ;)
Learning is a process of making mistakes.
We can make them by ourselves, one by one, but that takes time and time is short.
Better we learn from the mistakes of others, and they from ours.
I count on people making mistakes.
So.......who is your new shepherd?
Iz dat da compooter monee fing ? I eard of dat an me old granny fink no under-standing and I fink it a big scamm. an my old granny finks de intanet will close soon cos all of da lektric will run out. An I fink ony gold iz monee cos it is realy shinny an yoo can old it in ya hand an u can make a sppon or get a noo toof from de silvar
Don't look now, but your desperation is showing.
Laughing my head off at you bunch of sore losers.... What flavour are those sour grapes again .. Oh year , sour !!!
Bitcoin is a scam to take the wealth away from stupid greedy people who have the "heard" mentallity. One sheep goes over a cliff, they all go over a cliff.
Yeah the same was true in 2009. Fucking heard mentatiliy , whoever got into butcoin in the last 5 years was a fucking total moron , I mean it was only the world's best performing asset 4 years in a row , wot a bunch of planks !!!
It is true that in a speculative mania, the early adopters can profit if they know when to sell out. In the case of Bitcoin, the situation is more extreme, since the earliest adopters did not need to invest any substantial amount of money, since you could mine Bitcoins with a reasonably-powered home PC and graphics card.
The early miners were in a position simiar to the founders of a "penny stock" speculative stock issue, who simply print stock certificates and try to sell them on the market offering the hope of speculative gains.
Those days are long gone. Even the newly issued alt coins are mined very competitively, with large mining pools being set up from the time of initial release.
We are still in the early days. The final block will not be generated until year 2140. Then miners revenue switches over purely to transaction processing charges.