Another take on Bitcoin

Pulltabby

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BITCOIN explained:

A lot of monkeys lived near a village.
One day a merchant came to the village to buy these monkeys.
He announced that he will buy the monkeys @ $100 each.
The villagers thought that this man is mad.

They thought how can somebody buy stray monkeys at $100 each?
Still, some people caught some monkeys and gave them to this merchant and he paid $100 for each monkey.
This news spread like wildfire and people caught monkeys and sold them to the merchant.

After a few days, the merchant announced that he will buy monkeys @ $200 each.
The lazy villagers also ran around to catch the remaining monkeys.
They sold the remaining monkeys @ $200 each.
Then the merchant announced that he will buy monkeys @ $500 each!
The villagers start to lose sleep! ... They caught six or seven monkeys, which were all that was left and got $500 each.

The villagers were waiting anxiously for the next announcement.
Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ $1000 each.
He asked his employee to take care of the monkeys he bought. The employee was alone taking care of all the monkeys in a cage.
The merchant went home.
The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.
Then the employee told them that he will sell some monkeys @ $700 each secretly.

This news spread like fire. Since the merchant buys monkeys @ $1000 each, there is a $300 profit for each monkey.
The next day, villagers made a queue near the monkey cage.
The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!

The villagers took care of their monkeys & waited for the merchant to return.
But nobody came! ... Then they ran to the employee...
But he had already gone too.
The villagers then realized that they have bought the useless stray monkeys @ $700 each and unable to sell them!

The Bitcoin will be the next monkey business.
It will make a lot of people bankrupt and a few people filthy rich in this monkey business.
That's how it will work.
 
So I guess the moral of the story is don’t monkey around with Bitcoin-ahem, unless you’re a monkey [emoji204]!


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This whole Bitcoin Crypto concept has been one strange event...! I still do not understand, even after following it closely/daily I could not and cannot grasp the uptake...

I understand catching monkeys ...I understand robbing the monkey buyer...I also understand selling monkey catching equipment, game calls, traps, snares, etc....I cannot to this day understand the Bitcoin! It appears to be about the same concept...but for some reason, I simply cannot understand it or figure it out, and this is very troubling to me! :laughing:

Maybe Bitcoin is like Bigfoot? Or Peter Pan? You gotta believe, or its just not there at all?:laughing:
 
So what's the difference in our current money system? The dollar started as nothing more than a value given to monkeys/money.

Everyday our monkeys/moneys value goes up and down based solely on the belief someone will put value on it.
 
So what's the difference in our current money system? The dollar started as nothing more than a value given to monkeys/money.

Everyday our monkeys/moneys value goes up and down based solely on the belief someone will put value on it.

Granted...except a guy is never going to find a lost bitcoin out in a totlot! Better chance finding a Monkey or a Bigfoot or Peter Pan!:laughing:

I guess theres internet totlots? Probably stuffed full of bitcoins! Also lots of Monkeys and Bigfoots and Peter Pans easy to find out there on the Internet Totlots! Especially on the dating sites! Even Nigerian Millionaires that need some bank account wire transfer assistance!...Thats where the REAL money is! :laughing:
 
I guess it’s kind of like buying gold and silver, and all you get is a piece of paper saying you own it , while someone you don’t know, stores it where you don’t know. Why would people do this, I don’t know.
 
what you are missing about crypto currancy is that it will have a speedy and easy use world wide. Think of what that means when buy and selling between two countries and not having to deal with exchange rates and banks. Things like money transfers become easier and quicker. Also the open visuals of transactions. Bitcoin itself though will probably die out and another will take over. Ripple(xrp) seems to be one of the few who is actually working on real world applications and getting businesses to invest. Online is the future of money, I hate it but it can not be avoided. I myself have been using cash only my whole life.
 
I guess it’s kind of like buying gold and silver, and all you get is a piece of paper saying you own it , while someone you don’t know, stores it where you don’t know. Why would people do this, I don’t know.

"One born ever minute" is a term for a reason. I used to get VERY aggravated at the ignorance of others. I now refer to it and maintain the belief that it is strictly for my, and the other (few) thinking peoples' entertainment! I just watch em bounce their tens of thousands in bank owned vehicles off each other, buy the get-skinny-quick pills and "silver notes" and laugh and laugh and laugh and... You get it. :laughing:
 
what you are missing about crypto currancy is that it will have a speedy and easy use world wide. Think of what that means when buy and selling between two countries and not having to deal with exchange rates and banks. Things like money transfers become easier and quicker. Also the open visuals of transactions. Bitcoin itself though will probably die out and another will take over. Ripple(xrp) seems to be one of the few who is actually working on real world applications and getting businesses to invest. Online is the future of money, I hate it but it can not be avoided. I myself have been using cash only my whole life.

I'm sorry but if anyone, business or personal, think any currency not owned, operated and profited on by the banking cartel known as the Federal Reserve is going anywhere, they're sadly mistaken.

They're gonna let people play around and think they're "changing currency" but... Well, ask John F. Kennedy about changing the way currency works. Oh yeah.
 
I'm sorry but if anyone, business or personal, think any currency not owned, operated and profited on by the banking cartel known as the Federal Reserve is going anywhere, they're sadly mistaken.

They're gonna let people play around and think they're "changing currency" but... Well, ask John F. Kennedy about changing the way currency works. Oh yeah.

+1

I know we have got to avoid this thread getting too political or it could be closed (the Mods understandingly have to uphold the rules) but just want to say you made some very valid points. (and the U.S. is not the only country with a privately owned central bank)

I wish we could get back to how the U.S. Constitution said money should be rather than fiat money which reminds me of this :laughing:

monopolymoneyjpg.jpg
 
I will be honest don't really uderstand bitcoin, on a sidenote there was a member or guest at our coin club in BC Can. that printed lovely Ant Artica paper money exchange,google if interested.

Another guest has minted his own bullion currency on Mesquiti Island BC
Lovely coins, worth a google search.
 
what you are missing about crypto currancy is that it will have a speedy and easy use world wide. Think of what that means when buy and selling between two countries and not having to deal with exchange rates and banks. Things like money transfers become easier and quicker. Also the open visuals of transactions. Bitcoin itself though will probably die out and another will take over. Ripple(xrp) seems to be one of the few who is actually working on real world applications and getting businesses to invest. Online is the future of money, I hate it but it can not be avoided. I myself have been using cash only my whole life.

"Speedy and easy to use worldwide " ,
Don't see that affecting me much , I'm not planning any worldwide trips for the rest of my life.
 
I guess it’s kind of like buying gold and silver, and all you get is a piece of paper saying you own it , while someone you don’t know, stores it where you don’t know. Why would people do this, I don’t know.
I hear ya! Kind of like the stock market, a 401k, direct-deposit of a paycheck, and our dollar bill!
 
I'm sorry but if anyone, business or personal, think any currency not owned, operated and profited on by the banking cartel known as the Federal Reserve is going anywhere, they're sadly mistaken.

They're gonna let people play around and think they're "changing currency" but... Well, ask John F. Kennedy about changing the way currency works. Oh yeah.

I don't think they will be replaced, but banks have started jumping on board as well. It will just be another tool for them.
 
I don't think they will be replaced, but banks have started jumping on board as well. It will just be another tool for them.

Eye Are Ess just jumped on board as well...getting the users identified so they can be properly taxed on their gains and purchases.....was on the financial sites over the weekend...:?:
 
I don't think they will be replaced, but banks have started jumping on board as well. It will just be another tool for them.

Another good reason to stay away from banks... I'd love to hear them up sell that one. "We don't know what it is or how it works either, but you DEFINITELY want to get in now!" Same thing every other person falling for this !!!! is saying.
 
Eye Are Ess just jumped on board as well...getting the users identified so they can be properly taxed on their gains and purchases.....was on the financial sites over the weekend...:?:

Surprised they took so long, what with everyone getting stupid rich in no time with these crypto currencies... If a fiat currency system isn't working, stack another digital one on top. That'll fix it... LOL
 
Another good reason to stay away from banks... I'd love to hear them up sell that one. "We don't know what it is or how it works either, but you DEFINITELY want to get in now!" Same thing every other person falling for this !!!! is saying.

Yup, I had an extra $500 come my way. I threw it in out of curiosity. I don't fully trust it either. But if that 500 makes me money i wont complain. If I lose it no big deal, at least I'll never wonder.
 
reminds me of the Barstool tax policy.

Barstool Tax Policy



An ec 10 student emails me the following parable:



Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that's what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. "Since you are all such good customers," he said, "I'm going to reduce the cost of your daily beer by $20." Drinks for the ten now cost just $80.


The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so:


The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

"I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man," but he got $10!"

"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got ten times more than I!"

"That's true!" shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!"

"Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!"

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
 
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