The Coming Bitcoin Collapse - GoFuckYourself.com - Adult Webmaster Forum

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ninavain

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#1

The Coming Bitcoin Collapse

04-09-2013, 10:50 PM

know when to hold 'em...know when to fold'em- Kenny Rogers They only hold their value as long as very few people sell the currency. Once a selloff begins, the mathematical process that created the excess "virtual valuation" reverses itself, destroying valuations across all the investors.

All currencies depend on "faith" in the currency. That's why the U.S. dollar is claimed to be backed by the "full FAITH and credit of the U.S. government." Without the faith, the currency collapses.

Last edited by ninavain; 04-09-2013, 10:54 PM.
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2013

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#2

04-09-2013, 10:52 PM

Heard Francks going to lose it all
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lazycash

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#3

04-09-2013, 11:09 PM

Originally posted by 2013

Heard Francks going to lose it all

Lose it "all"? Franck only owns 1 bitcoin so he's not exactly at risk to lose much.

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DBS.US

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#4

04-09-2013, 11:09 PM

Let the selloff begin at 11:00 am Monday

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- Jesus Christ -

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#5

04-09-2013, 11:11 PM

Here's Why Bitcoin Speculators Are Just Laughing At Anyone Who Calls It A Bubble

Amen
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jscott

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#6

04-10-2013, 12:01 AM

btc going to collapse..... sell all your btc asap!!!!!

contact me i buy all 130321510

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DWB

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#7

04-10-2013, 03:20 AM

Originally posted by - Jesus Christ -

Here's Why Bitcoin Speculators Are Just Laughing At Anyone Who Calls It A Bubble

Good read.

At the end of the page, the bottom line:

Yes, this is classic bubble logic. Yes, someday, many Bitcoin speculators will probably lose their shirts. And, no, there's no way to determine what Bitcoins are "actually worth." That's why I call Bitcoin the "perfect bubble." But what many folks who snicker smugly about "bubbles" don't seem to understand is that before some Bitcoin speculators lose their shirts, some other Bitcoin speculators are going to, well, coin it.
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- Jesus Christ -

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#8

04-10-2013, 03:26 AM

LOL @ seeing the disclaimer he makes to protect his rep as "the bottom line"

Amen
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MikeRoth

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#9

04-10-2013, 03:35 AM

All currencies depend on "faith" in the currency. That's why the U.S. dollar is claimed to be backed by the "full FAITH and credit of the U.S. government." Without the faith, the currency collapses.

Who has faith in the credit of the U.S. Government? The national debt is rising exponentially and they are in debt to China... inb4 getting loans from North Korea

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#10

04-10-2013, 03:56 AM

and in the meantime we're at 254$

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Femjoy Michael

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#11

04-10-2013, 04:03 AM

Originally posted by MikeRoth

All currencies depend on "faith" in the currency. That's why the U.S. dollar is claimed to be backed by the "full FAITH and credit of the U.S. government." Without the faith, the currency collapses.

Who has faith in the credit of the U.S. Government? The national debt is rising exponentially and they are in debt to China... inb4 getting loans from North Korea

If you look at world economic history, hyper-inflation / massive currency depreciation, are always political/emotional events, not economic ones. What happened to the US dollar during the great depression? What happened to the US dollar in 2008?

Faith in a currency is lost when the government doesnt pay its debts, or there is massive fraud such as counterfeit currency becoming too big in the money supply. That's why if bitcoin gets hacked again, it will collapse. Security is the number one priority at bitcoins right now. They know it.

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dyna mo

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#12

04-10-2013, 04:14 AM

Originally posted by ninavain

All currencies depend on "faith" in the currency. That's why the U.S. dollar is claimed to be backed by the "full FAITH and credit of the U.S. government." Without the faith, the currency collapses.

nice to see a conspiracy theorist have faith in the u.s. government! that's progress!!
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MikeRoth

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#13

04-10-2013, 04:46 AM

Originally posted by Femjoy Michael

Faith in a currency is lost when the government doesn't pay its debts.

What happened with the British sterling when it was the world currency? What is the world currently trying to make as the new world currency as the value of the dollar continues to collapse? Printing more money is essentially cooking the books to make it look like the economy is doing better.

Not sure how an ever increasing debt counts as paying ones debt. If I add $50k in debt a year to my personal finances and only pay back $10k a year. The gov doesn't see that as paying my debt. But I guess the government is above the law.

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#14

04-10-2013, 04:48 AM
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2012

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#15

04-10-2013, 06:50 AM

1)the "big banks" are pumping money into bitcoin so they can implode it. they are definitely involved
2)the greed that is skyrocketing the value will turn to panic and fear that will excelerate the "mega plunge"
3)when it drops it will be faster in this case and harder to get out than other currency's because "evil programmers" have devised a system to get out when it hits a specific point
4)the creators of bitcoin are most definitely billionares by now
5)i like poo

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CyberHustler

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#16

04-10-2013, 06:57 AM

Sounds fun

“If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you.”
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dyna mo

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#17

04-10-2013, 07:02 AM

there's always facebook! everybody wants some of that 100b$ action!
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ninavain

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#18

04-10-2013, 05:08 PM

boom.............. the sound of collapse
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#19

04-10-2013, 05:23 PM

that was fast...

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#20

04-10-2013, 05:36 PM

This is a textbook example of a bubble. I'd rather gamble money at a Casino in Las Vegas than trade bitcoins.
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#21

04-10-2013, 05:52 PM

Originally posted by 2012

1)the "big banks" are pumping money into bitcoin so they can implode it. they are definitely involved

Originally posted by 2012

the creators of bitcoin are most definitely billionares by now

The creators of bitcoin sold out at $1 and are now broke squaters.

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2012

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#22

04-10-2013, 06:06 PM

i like bitcoin

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Supz

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#23

04-10-2013, 06:07 PM

I Farted.
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ninavain

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#24

04-11-2013, 06:45 AM

traded suspended today...
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dyna mo

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#25

04-11-2013, 06:56 AM

Originally posted by ninavain

traded suspended today...

it's weird that a truther would have an issue with an anarchist decentralized crypto-currency. i would think you can appreciate this for it's attempt to step away from centralized government control, like the fed.
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