GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Bitcoin are intrinsically worthless according to economist Peter Schiff

adendreams · 11-24-2013, 12:43 AM

You heard of Exotic Options, Vanilla Options, Exotic Derivatives, Swaptions? Surely you know about CDS's (Credit Default Swaps)? You know - the things that crashed the economy?

They are just contracts - worthless pieces of paper (with collective values in the trillions of dollars) - that are a promise to pay something IF something HAPPENS... all Bitcoin is a public version of something Wall Street normally keeps within it's own ranks - thus the threat.

11-24-2013, 12:43 AM
adendreams Confirmed User Industry Role: Join Date: Jul 2009 Location: LA and Florida Posts: 1,887	You heard of Exotic Options, Vanilla Options, Exotic Derivatives, Swaptions? Surely you know about CDS's (Credit Default Swaps)? You know - the things that crashed the economy? They are just contracts - worthless pieces of paper (with collective values in the trillions of dollars) - that are a promise to pay something IF something HAPPENS... all Bitcoin is a public version of something Wall Street normally keeps within it's own ranks - thus the threat. __________________ Aden - Your Content Shooter Superfreak ADEN CONTENT · HD Video · Ex-GF · Am Content · Pro Content · PHP Programming · Package Deals • Skype or ICQ available on request • Last edited by adendreams; 11-24-2013 at 12:44 AM..