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Art_from_Ark

(27,247 posts)

75. How much of that money invested in the Dow

Mon Mar 17, 2014, 11:20 PM

Mar 2014

would be eaten up with brokers' and maintenance fees?

And who are "most people" who think that gold is "overpriced"? What sort of expertise in the field do they have? What sort of personal interest do they have in the gold market?

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I have concluded bitcoin is a scam [View all] joeglow3 Mar 2014 OP

Heard it too. bravenak Mar 2014 #1

At least the ad gave you the clientele marketing group ... MindMover Mar 2014 #2

and a subset of DUers DrDan Mar 2014 #31

As whack as they are PowerToThePeople Mar 2014 #3

Bitcoin, like gold, is not a scam. The way it is being used is a scam. Gravitycollapse Mar 2014 #4

Gold is at least something tangible. joeglow3 Mar 2014 #5

Is a fiat currency also a scam? Gravitycollapse Mar 2014 #8

Yes CFLDem Mar 2014 #14

The entire point of cryptocurrency is anarchy of capital. Gravitycollapse Mar 2014 #16

Well the value certainly has plenty of anarchy. n/t CFLDem Mar 2014 #27

Anarchy of capital... Maedhros Mar 2014 #52

Of course it has great potential for abuse. Gravitycollapse Mar 2014 #55

um you know tangible means it's physical and you can hold it right? TeamPooka Mar 2014 #23

Tangible can mean many things... Gravitycollapse Mar 2014 #35

You can try but you cannot redefine words and language. TeamPooka Mar 2014 #36

First off, there is no need for the attitude. Gravitycollapse Mar 2014 #38

Attitude required for such obtuseness about what tangible currency really is. Not what you pretend TeamPooka Mar 2014 #43

Nope no attitude needed. Have a great day. Gravitycollapse Mar 2014 #46

You too. Just don't go making up word definitions anymore. TeamPooka Mar 2014 #47

Never made up a definition. Gravitycollapse Mar 2014 #53

Oh please. Don't lie. "Tangible can mean many things" started this. TeamPooka Mar 2014 #61

I was never wrong about anything. And you are attempting to get around that by being rude. Gravitycollapse Mar 2014 #62

says the guy who satrted the name calling TeamPooka Mar 2014 #63

"cryptocurrency does exist as a physical medium in the form of electrical charges" snooper2 Mar 2014 #37

Is it going to be possible to have a civil, meaningful discussion with you? Gravitycollapse Mar 2014 #39

not sure, you keep making me laugh :) maybe we can talk about something different snooper2 Mar 2014 #40

exactly. It's hilarious. TeamPooka Mar 2014 #44

Ones and zeroes are real too! FSogol Mar 2014 #50

Ones and zeros are the symbols for the physical electrical charges. Gravitycollapse Mar 2014 #54

Twisty word game! FSogol Mar 2014 #57

It's important to recognize that a Bitcoin actually exists in a physical system. Gravitycollapse Mar 2014 #59

Do the people who had their bitcoins secured in Mt. Gox or Flexcoin agree with you? FSogol Mar 2014 #65

If they have an ounce of sense they should. They invested in an untraceable currency. Gravitycollapse Mar 2014 #66

So you approve of a currency that is designed to circumvent our government's control? FSogol Mar 2014 #67

I'm not going to trash the entire concept of cryptocurrency because libertarians like it. Gravitycollapse Mar 2014 #68

"Nutty gold bugs" Art_from_Ark Mar 2014 #70

$35 invested in Berkshire in 1968 is worth $175,000 joeglow3 Mar 2014 #71

And $35 invested in Woolworth's in 1968 would be worth zero today Art_from_Ark Mar 2014 #73

Actually, 35 invested in the Dow would be close joeglow3 Mar 2014 #74

How much of that money invested in the Dow Art_from_Ark Mar 2014 #75

Vanguard index funds are extremely low cost joeglow3 Mar 2014 #79

Did Vanguard even exist in 1968? Art_from_Ark Mar 2014 #80

They exist today joeglow3 Mar 2014 #81

And things have worked out pretty well for me Art_from_Ark Mar 2014 #82

So you contend they are real, tangible . . . brush Mar 2014 #76

Can I use bitcoin to make teeth ... ? or make beautiful jewelry ....? MindMover Mar 2014 #7

So does not being in an easily useable physical medium make anything a scam? Gravitycollapse Mar 2014 #9

I got some Dune spice melange that will knock your socks off ... MindMover Mar 2014 #10

No other metal? Lancero Mar 2014 #20

I want a nice bitcoin necklace joeglow3 Mar 2014 #32

K. Lancero Mar 2014 #45

Nice. But I tire of it joeglow3 Mar 2014 #48

Bitcoin is quite literally a pyramid scheme. joshcryer Mar 2014 #11

That is quite literally the function of pretty much all currency valuation. Gravitycollapse Mar 2014 #13

The value of currency is the level of trust it has in transactions. joshcryer Mar 2014 #15

The value of currency is also its utility bhikkhu Mar 2014 #17

Yeah I don't even think the Bitcoin crypto base is useable. joshcryer Mar 2014 #18

bitcoins are digital tulips. good luck with them. TeamPooka Mar 2014 #24

Well, how is it being used that makes it a scam? ElboRuum Mar 2014 #12

^^^ This ^^^ alittlelark Mar 2014 #19

Bitcoin is a scam. It has no backing, no insured worth other than CPU cycles. Arkana Mar 2014 #42

No limp dick cures or Gracie Ju Jitsu ads? Hassin Bin Sober Mar 2014 #6

Or reserve mortgages? FSogol Mar 2014 #29

Sounds more like you were listening to the Glenn Beck show. RandySF Mar 2014 #21

It wasn't that long ago that people showed the same lack of imagination about computers. MattSh Mar 2014 #22

It has to be fiat based. joshcryer Mar 2014 #25

Guilt by vague association is not the strongest of arguments. nt Democracyinkind Mar 2014 #26

no, really? Warren Stupidity Mar 2014 #28

What's funny is libertarians love them some bitcoin. FSogol Mar 2014 #30

oo, you forgot Satanists, traitors, idolators, and puppy eaters. closeupready Mar 2014 #49

Greendot cards are also used very often for money laundering. But bankless debit cards... Gravitycollapse Mar 2014 #60

Completely virtual, unregulated money contained within hackable computer systems? Tommy_Carcetti Mar 2014 #33

just now? DiverDave Mar 2014 #34

What tipped you off? Arkana Mar 2014 #41

The fact that this currency is unregulated lends itself to scams Gothmog Mar 2014 #51

Those who control it will start adding transaction fees -- totally unregulated BlueStreak Mar 2014 #78

That's so weird Shankapotomus Mar 2014 #56

It could be purposely insecure. gulliver Mar 2014 #58

I noted that on another thread. OilemFirchen Mar 2014 #64

Message auto-removed Name removed Mar 2014 #69

Bitcoin is backed by NOTHING. grahamhgreen Mar 2014 #72

I think it might have originated as a decent idea Warpy Mar 2014 #77