Loading ...new buzzsaw99 tmosley Nov 12, 2017 1:12 PM
$30 or $40 per transaction? that’s what you’ve been paying and you have the nerve to call the rest of us retards? good lord man, my visa card PAYS ME. i am not paying some scumbag crypto hacker-broker in the basement of a russian whorehouse more fucking money than i’d pay lloyd blankfein to make a transaction. HAHAHAHAHAHAHAHA!!!
How do I recover my life savings in bitcoin when my wallet is totally anonymous and I lose the password?
You don’t, just like you don’t recover your gold if you drop it off the side of a ship at sea.
With those fluctuations in value, it will never be a useful currency.
Proponents of crypto currencies incorrectly point out that money need not have any intrinsic value. In fact, they make the absurd claim that gold has no intrinsic value either. Every culture values gold for its unique decorative and ornamental value, and that’s not going to change anytime soon. Neither will industrial demand for gold in computers, electronics, airspace, medicine, or dentistry.
Add that desirability to gold’s properties of scarcity, divisibility, portability, uniformity, and durability, and you have the perfect commodity for currency use. Bitcoin was created to replicate those properties, but lost is the fact that none of those properties matter without the underlying intrinsic value. Therefore Bitcoin is not digital gold, but digital fool’s gold.
Money must have a value other than its use as a medium of exchange. Like barter, it must transfer real value from one party to another. When gold is exchanged for a chair, one person gets a chair, and the other gets gold. Both parties get something of value independent of a future transaction.
The fact that the party receiving gold never uses it as gold, but exchanges it for other goods or services, does not change the nature of the transaction. But if a chair is exchanged for a Bitcoin, the recipient of Bitcoin receives nothing he or anyone else can actually use. The only thing that can be done with Bitcoin is to exchange it for something else.