Meltdown: Bitcoin crashes to $576

[Manmaster]

For your own knowledge....

 

What is legal tender?

 

Legal tender is not a term or condition in a business contract. It is a constitutional law which has to be enacted, approved & passed in the parliament. This is not something that 2 parties agreed upon in a business contract and it would become a legal tender and expect everyone to follow it. Would any country label another currency as legal tender in its own country? The answer is NEVER! Why? This will undermine its own currency. Therefore, every currency is only legal tender in its own country. You can't enforce another country to accept your currency and that's the reason why you need to do currency exchanges when you visit other countries. Nobody in his own capacity can make a currency legal tender. Only the government can!

[Jamesc]

I don't know if Bitcoin is good or not

 

but if it fell to $1. I will buy some.

 

So far my investment in toto and 4d

 

has got me a return of exactly 0.

 

So how bad can my return in Bitcoin be

 

if I invested in it?

 

[Solar]

I don't know if Bitcoin is good or not

 

but if it fell to $1. I will buy some.

 

So far my investment in toto and 4d

 

has got me a return of exactly 0.

 

So how bad can my return in Bitcoin be

 

if I invested in it?

 

 

LOL exactly... so far my toto/4d returns in 2013 has been 0... without my principal back even.

Who knows.. in the next 20 days i may see a huge returns, but i'm not betting too much on it.

 

yes.. may also bet a bit on bitcoin if it goes back to $1

[Manmaster]

I don't know if Bitcoin is good or not

 

but if it fell to $1. I will buy some.

 

So far my investment in toto and 4d

 

has got me a return of exactly 0.

 

So how bad can my return in Bitcoin be

 

if I invested in it?

 

 

Bitcoin, like the banana note, will start to have value when it becomes a collectible item which means it becomes a part of history. When the japanese government abandoned the banana notes, many people destroyed the notes which caused a massive decrease in supply. The massive cut in supply didn't raise the value of banana notes at all. The banana note only started to gain in value when it became a part of history and a collectible item. For eg, if you have a used stamp for 2013, there is no value in it and u can't sell it but 100 years later, your 2013 used stamp will have a great value because it has become a part of history and a collectible item. In a nutshell, it is time that creates value for the item, not demand & supply.

 

[Unltd]

Bitcoin, like the banana note, will start to have value when it becomes a collectible item which means it becomes a part of history. When the japanese government abandoned the banana notes, many people destroyed the notes which caused a massive decrease in supply. The massive cut in supply didn't raise the value of banana notes at all. The banana note only started to gain in value when it became a part of history and a collectible item. For eg, if you have a used stamp for 2013, there is no value in it and u can't sell it but 100 years later, your 2013 used stamp will have a great value because it has become a part of history and a collectible item. In a nutshell, it is time that creates value for the item, not demand & supply.

 

Unfortunately, bitcoin is made of code, it can become history but cannot become a collectible item.

 

It is virtual like you mentioned, I guess you must have forgotten. :)

 

http://www.bbc.co.uk/news/magazine-25332746

[Manmaster]

Unfortunately, bitcoin is made of code, it can become history but cannot become a collectible item.

 

It is virtual like you mentioned, I guess you must have forgotten. :)

 

http://www.bbc.co.uk/news/magazine-25332746

I didn't forget but u just didn't understand bitcoin well enough. Let me enlighten you now.

 

Bitcoin is a string of codes and the codes are downloadable into a hard disk or thumb drive. Whenever a bitcoin is transacted, a new string of codes is added to its existing codes. Therefore, as a bitcoin changes more hands, its codes will be vastly different from its original form. In short, my bitcoins will be different from yours in codes.

 

The intention of bitcoin is a fallacy. Just like any scam, it's always the first few tiers of investors that will make money. No country will accept bitcoin to flourish in its country. Why? It is not because of money laundering issue with bitcoin. If a government is really concerned about money laundering through bitcoin, it can jolly well ban bitcoin just like SG banned money from myanmar previously. The cardinal reason for not accepting a foreign currency is it will undermine its own currency and affect the effectiveness of its monetary policies.

 

Every government manages its country through monetary & fiscal policies. These are like the 2 hands of your body. If someone wants to tie up one of your hands, will you allow it to happen? China understood this very well and instructed its banks not to accept bitcoins and also not to deal in bitcoins but it still allowed bitcoin trading. By allowing bitcoin trading, it shows that China is not concerned about money laundering. Baidu immediately banned bitcoin on its website following the china government's action. Baidu founder is an echelon of the china committee and he knows what the government will do to bitcoin in the future. EU has just issued its warning for bitcoin after China. EU took such a great effort to establish Euro and it definitely won't allow anything to affect Euro.

 

What's SG's stance on bitcoin? I can tell you that our government won't let bitcoin to flourish in SG. Why? Our government uses monetary policies to control inflation and it is in our national interest not to let anything affect the effectiveness of our monetary policies. Once something starts to affect the monetary policies, the government will ban it to safeguard its own national interest.

 

If money really can be created out of thin air, you think economists won't do it? Precisely that it can't be done, that's why economists don't do it. That's also why bitcoin is created by computer geeks, not economists. Good nite!

[Unltd]

I didn't forget but u just didn't understand bitcoin well enough. Let me enlighten you now.

 

Bitcoin is a string of codes and the codes are downloadable into a hard disk or thumb drive. Whenever a bitcoin is transacted, a new string of codes is added to its existing codes. Therefore, as a bitcoin changes more hands, its codes will be vastly different from its original form. In short, my bitcoins will be different from yours in codes.

 

The intention of bitcoin is a fallacy. Just like any scam, it's always the first few tiers of investors that will make money. No country will accept bitcoin to flourish in its country. Why? It is not because of money laundering issue with bitcoin. If a government is really concerned about money laundering through bitcoin, it can jolly well ban bitcoin just like SG banned money from myanmar previously. The cardinal reason for not accepting a foreign currency is it will undermine its own currency and affect the effectiveness of its monetary policies.

 

Every government manages its country through monetary & fiscal policies. These are like the 2 hands of your body. If someone wants to tie up one of your hands, will you allow it to happen? China understood this very well and instructed its banks not to accept bitcoins and also not to deal in bitcoins but it still allowed bitcoin trading. By allowing bitcoin trading, it shows that China is not concerned about money laundering. Baidu immediately banned bitcoin on its website following the china government's action. Baidu founder is an echelon of the china committee and he knows what the government will do to bitcoin in the future. EU has just issued its warning for bitcoin after China. EU took such a great effort to establish Euro and it definitely won't allow anything to affect Euro.

 

What's SG's stance on bitcoin? I can tell you that our government won't let bitcoin to flourish in SG. Why? Our government uses monetary policies to control inflation and it is in our national interest not to let anything affect the effectiveness of our monetary policies. Once something starts to affect the monetary policies, the government will ban it to safeguard its own national interest.

 

If money really can be created out of thin air, you think economists won't do it? Precisely that it can't be done, that's why economists don't do it. That's also why bitcoin is created by computer geeks, not economists. Good nite!

Clap clap!!! You said it will become a collectible, I tell you it can't. You don't address points and say what you want.

 

Smart!!! You just can't admit that you make mistakes and just simply said the wrong thing. Collectible! Hahahahaha. In that sense now your replies also can become collectible a leh... Cause your replies are pieces of code, how to become collectible? Print on piece of paper and watermark?

 

You are explaining the same thing over and over again to try to prove your point. I told you that you have your point and others have theirs, there are 2 camps. My previous post merely addresses your small mistake that it cannot become a collectible and in order to win at all costs you write a long winded post that is out of point playing a old record (not sure if it's a broken record yet).

 

Shows a lot about you character! Good morning!!!

[Manmaster]

Clap clap!!! You said it will become a collectible, I tell you it can't. You don't address points and say what you want.

 

Smart!!! You just can't admit that you make mistakes and just simply said the wrong thing. Collectible! Hahahahaha. In that sense now your replies also can become collectible a leh... Cause your replies are pieces of code, how to become collectible? Print on piece of paper and watermark?

 

You are explaining the same thing over and over again to try to prove your point. I told you that you have your point and others have theirs, there are 2 camps. My previous post merely addresses your small mistake that it cannot become a collectible and in order to win at all costs you write a long winded post that is out of point playing a old record (not sure if it's a broken record yet).

 

Shows a lot about you character! Good morning!!!

 

Haiz.......Don't be fooled by technology and don't be a fool!

 

Let me tell you more about bitcoin. I don't always give the full story because I wanna see how well-versed the other party is but obviously you don't know much about bitcoin.

 

Bitcoin is not a standard software like windows OS where you and I have basically the same source codes and the source codes won't change. Bitcoin is like a log sheet. From it codes, you can tell the bitcoin's history. You can know where the bitcoin has been to, how many times it has been traded, date and time, price, previous owner's digital footprints, etc. Bitcoin is not untraceable as other people claimed. When a bitcoin is transacted, a digital copy is sent to the customer and another digital copy goes to the bitcoin mining operator for routine fraud detection purposes. This is why the bitcoin mining operator can check the veracity of your bitcoin. Therefore, every bitcoin has its own story or history to tell from its codes. When something can tell a history, it will become a collectible.

 

Haiz again.....your rationale shows a lot about your intelligence. Good Afternoon and have a great weekend.

[Unltd]

 

Haiz.......Don't be fooled by technology and don't be a fool!

 

Let me tell you more about bitcoin. I don't always give the full story because I wanna see how well-versed the other party is but obviously you don't know much about bitcoin.

 

Bitcoin is not a standard software like windows OS where you and I have basically the same source codes and the source codes won't change. Bitcoin is like a log sheet. From it codes, you can tell the bitcoin's history. You can know where the bitcoin has been to, how many times it has been traded, date and time, price, previous owner's digital footprints, etc. Bitcoin is not untraceable as other people claimed. When a bitcoin is transacted, a digital copy is sent to the customer and another digital copy goes to the bitcoin mining operator for routine fraud detection purposes. This is why the bitcoin mining operator can check the veracity of your bitcoin. Therefore, every bitcoin has its own story or history to tell from its codes. When something can tell a history, it will become a collectible.

 

Haiz again.....your rationale shows a lot about your intelligence. Good Afternoon and have a great weekend.

Now I am having fun! So it can become collectible? Hahahaha

[Manmaster]

Now I am having fun! So it can become collectible? Hahahaha

Yes you can provided you can leave a legacy behind which I don't think you're capable of. You can't be part of a history unless you've done something GREAT. Grow up and be a man. Stop acting so childishly!

[Unltd]

Yes you can provided you can leave a legacy behind which I don't think you're capable of. You can't be part of a history unless you've done something GREAT. Grow up and be a man. Stop acting so childishly!

Children don't admit defeat, flap their arms, insist they are right, roll on the floor and cry. Sorry my correction spoilt children.

 

Collectible?! Hahaha, how? You mentioned physical object like a stamp. You great what, tell me how it can become collectible?

 

So it's the same question you can't answer, how to make it a collectible?!

[Manmaster]

Children don't admit defeat, flap their arms, insist they are right, roll on the floor and cry. Sorry my correction spoilt children.

 

Collectible?! Hahaha, how? You mentioned physical object like a stamp. You great what, tell me how it can become collectible?

 

So it's the same question you can't answer, how to make it a collectible?!

Are you talking about yourself? Is that the best your small brain can do?

 

When did I say that only physical item had value? I only quoted a physical item as an example. If you need a digital example. you could ask nicely and I would tell you. You need to move with time, my man!

 

For a stamp, you just need to acquire it and wait for it to gain in value. You can do something similar digitally too.

 

After facebook was created and risen in popularity, someone acquired the domain name of www.fb.com and waited for it to gain in value before facebook bought it. Please go and google how many millions facebook paid to acquire www.fb.com. Please note that you don't have to do anything to add value to a domain name.

 

Likewise, if george washington had internet in his time and he had a personal website, his personal website would be worth a lot today as he was an important part of US history. His personal website would be a collectible digital item.

 

However, if you happen to do something great by a stroke of fluke, I believe your digital footprints will have value as you will pay to remove your imbecile online.

 

An intelligent man will know how to determine value but obviously you don't have the mental capacity to do that. Pls grow up and stop acting like a child. I won't stoop to your low level if you don't act like a man anymore. God bless you. Have a nice weekend!

[Unltd]

Are you talking about yourself? Is that the best your small brain can do?

 

When did I say that only physical item had value? I only quoted a physical item as an example. If you need a digital example. you could ask nicely and I would tell you. You need to move with time, my man!

 

For a stamp, you just need to acquire it and wait for it to gain in value. You can do something similar digitally too.

 

After facebook was created and risen in popularity, someone acquired the domain name of www.fb.com and waited for it to gain in value before facebook bought it. Please go and google how many millions facebook paid to acquire www.fb.com. Please note that you don't have to do anything to add value to a domain name.

 

Likewise, if george washington had internet in his time and he had a personal website, his personal website would be worth a lot today as he was an important part of US history. His personal website would be a collectible digital item.

 

However, if you happen to do something great by a stroke of fluke, I believe your digital footprints will have value as you will pay to remove your imbecile online.

 

An intelligent man will know how to determine value but obviously you don't have the mental capacity to do that. Pls grow up and stop acting like a child. I won't stoop to your low level if you don't act like a man anymore. God bless you. Have a nice weekend!

You said can become collectible. How? How to become a collectible?

 

Let a stupid man teach an intelligent man, the computer that created the code can become a collectible. A trading card of Micheal Jordan can become a collectible, a nose hair from you may become a collectible. But bitcoin, Michael Jordan and yourself cannot become a collectible.

 

You mentioned collectible and you are not answering the question. Instead you are going round and round trying to insinuate ppl are childish and not intelligent. But your argument is very intelligent? A hundred intelligent quotes don't make you smart, neither does avoiding the questions make you more of an adult.

 

So pray tell, how does bitcoin become collectible?!

[Manmaster]

You said can become collectible. How? How to become a collectible?

 

Let a stupid man teach an intelligent man, the computer that created the code can become a collectible. A trading card of Micheal Jordan can become a collectible, a nose hair from you may become a collectible. But bitcoin, Michael Jordan and yourself cannot become a collectible.

 

You mentioned collectible and you are not answering the question. Instead you are going round and round trying to insinuate ppl are childish and not intelligent. But your argument is very intelligent? A hundred intelligent quotes don't make you smart, neither does avoiding the questions make you more of an adult.

 

So pray tell, how does bitcoin become collectible?!

 

You really don't know about bitcoin and what constitutes a collectible. For a human to be a collectible, he has to do something great in his life. Buddha's relics & his teeth are collectible but not you and me.

 

Why did I say bitcoin could be a collectible? A collectible item will tell you its history or its story.

 

After the demise of bitcoin, bitcoin can be a collectible.....why?

 

If I'm a collector, I would buy bitcoins that could represent the epitome of the peak of human's naivety and stupidity. What kinds of bitcoin can represent that? Well, I will buy the bitcoins that are the most traded or those that have transacted at the highest prices before so that I can make a mockery of mankind when I show my bitcoins to others. Some collectors may wanna buy the bitcoins that have travelled to the most countries or the last bitcoin that is being mined. Not all bitcoins are equal and only some that have unique characteristics will have values.

 

In today's world, many virtual things can be collectible but you don't have the mental capacity to figure it out. God bless you. Ignorant is such a bliss.

[Unltd]

 

You really don't know about bitcoin and what constitutes a collectible. For a human to be a collectible, he has to do something great in his life. Buddha's relics & his teeth are collectible but not you and me.

 

Why did I say bitcoin could be a collectible? Please find quote "Bitcoin, like the banana note, will start to have value when it becomes a collectible item which means it becomes a part of history." A collectible item will tell you its history or its story.

 

After the demise of bitcoin, bitcoin can be a collectible.....why?

 

If I'm a collector, I would buy bitcoins that could represent the epitome of the peak of human's naivety and stupidity. What kinds of bitcoin can represent that? Well, I will buy the bitcoins that are the most traded or those that have transacted at the highest prices before so that I can make a mockery of mankind when I show my bitcoins to others. Some collectors may wanna buy the bitcoins that have travelled to the most countries or the last bitcoin that is being mined. Not all bitcoins are equal and only some that have unique characteristics will have values.

 

In today's world, many virtual things can be collectible but you don't have the mental capacity to figure it out. God bless you. Ignorant is such a bliss.

 

 

Please find definition of collectible when you google "collectible", http://www.thefreedictionary.com/collectible http://www.oxforddictionaries.com/definition/english/collectable

 

Please tell me what is collectible, you said as I quote above Bitcoin will start to have value when it becomes collectible.

 

You know when i was a child. Sorry I mean because I am a child, i love playing with toys, I especially love wind up toys. You wind them up a little, they prance around and shake around, some even roll all over and make alot of noise.

 

It is rather fun seeing these toys get wound up then act like they are supposed to in a manner that is all so predictable, The more you wind them, the more action you see. However, when playing with such toys, you have to be careful, because when you wind them up too much they break and it's no fun any longer.

 

Oh sorry, i digressed, coming back to the topic, how does bitcoin become collectible? bitcoin as a term cannot become collectible, i gave you examples, so tell me how to make a bunch of code become collectible?

 

Now you say virtual things can become collectible? How? I have not seen any definition that virtual things can become collectible.... Pray tell and teach those who are so ignorant Almighty one. I will humbly accept your definition as long as it makes sense.

[Manmaster]

 

 

Please find definition of collectible when you google "collectible", http://www.thefreedictionary.com/collectible http://www.oxforddictionaries.com/definition/english/collectable

 

Please tell me what is collectible, you said as I quote above Bitcoin will start to have value when it becomes collectible.

 

You know when i was a child. Sorry I mean because I am a child, i love playing with toys, I especially love wind up toys. You wind them up a little, they prance around and shake around, some even roll all over and make alot of noise.

 

It is rather fun seeing these toys get wound up then act like they are supposed to in a manner that is all so predictable, The more you wind them, the more action you see. However, when playing with such toys, you have to be careful, because when you wind them up too much they break and it's no fun any longer.

 

Oh sorry, i digressed, coming back to the topic, how does bitcoin become collectible? bitcoin as a term cannot become collectible, i gave you examples, so tell me how to make a bunch of code become collectible?

 

Now you say virtual things can become collectible? How? I have not seen any definition that virtual things can become collectible.... Pray tell and teach those who are so ignorant Almighty one. I will humbly accept your definition as long as it makes sense.

You need to move with time. Internet is a relatively new technology with a short history. In Japan, many men like to collect virtual/animated girlfriends. Animated/virtual GF is also just codes. Please come out of your cave and see the world.

 

I've stated what kind of bitcoin I will collect. Bitcoin is a string of codes which can be deciphered and each bitcoin has different codes. From the codes, I can know its history as bitcoin is like a log sheet. I can know which bitcoin is the most traded and which bitcoin has transacted at the highest price before. Got it?

[Unltd]

You need to move with time. Internet is a relatively new technology with a short history. In Japan, many men like to collect virtual/animated girlfriends. Animated/virtual GF is also just codes. Please come out of your cave and see the world.

 

I've stated what kind of bitcoin I will collect. Bitcoin is a string of codes which can be deciphered and each bitcoin has different codes. From the codes, I can know its history as bitcoin is like a log sheet. I can know which bitcoin is the most traded and which bitcoin has transacted at the highest price before. Got it?

 

Ok, so got it. So what is the definition of collectible? Bitcoin can become collectible? Can you enlighten and define collectible? You mean all the dictionaries online are not "move with time"?

 

So how to define that bitcoin can become a collectible?

[Wyfitms]

 

 

Please find definition of collectible when you google "collectible", http://www.thefreedictionary.com/collectible http://www.oxforddictionaries.com/definition/english/collectable

 

Please tell me what is collectible, you said as I quote above Bitcoin will start to have value when it becomes collectible.

 

You know when i was a child. Sorry I mean because I am a child, i love playing with toys, I especially love wind up toys. You wind them up a little, they prance around and shake around, some even roll all over and make alot of noise.

 

It is rather fun seeing these toys get wound up then act like they are supposed to in a manner that is all so predictable, The more you wind them, the more action you see. However, when playing with such toys, you have to be careful, because when you wind them up too much they break and it's no fun any longer.

 

Oh sorry, i digressed, coming back to the topic, how does bitcoin become collectible? bitcoin as a term cannot become collectible, i gave you examples, so tell me how to make a bunch of code become collectible?

 

Now you say virtual things can become collectible? How? I have not seen any definition that virtual things can become collectible.... Pray tell and teach those who are so ignorant Almighty one. I will humbly accept your definition as long as it makes sense.

 

wah lau eh, u don't get it ah?

 

u collect the source code and then your great great grand children will show the source code to others to mock humanity's silliness.

 

During that time, human beings will have microchips implanted in their brains and scanners in their eyes to decipher the code and understand where the bit coin travelled and all the transactions that took place.

 

Then they will admire and laugh at the bit coin at the same time

 

hope this clears your doubt