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Anyone else mining Ethereum? - Update: Ethereum mining guide included in third post

Thumper

Autocross Champion
For the last time, the US dollar is backed by trillions in actual assets AND the governments ability to collect a percentage of our countries GDP every year. It is not based on "belief".

That has got to be the most hilariously tone deaf and ignorant statement I have seen in quite some time. LMAO You believing in the governments "assets" and ability and willingness to stand behind the currency is somehow not a belief? Like I can somehow go to a store and say "No, no sir, you HAVE to give me a loaf of bread for these dollars........the government has office chairs and pens."

And any "currency" that you can walk into a merchant, drop 1 coin worth $60,000, drive out with a car, then that same coin be worth $30,000 the next day, isn't a "currency" at all.

You're example is built on exaggeration to attempt to prop up your point, but in reality that exact situation can and does happen to so called "real" currencies everyday. Or was the Venezuelan Bolivar not a real currency? It was based on the "assets" of the government and their ability to collect a percentage of their GDP.............In that very REAL example the coin worth a $60,000 car was actually worth about $60 the next day.

I went into the gas station last week and dropped $20 on 6.55 gallons of gas. Today my $20 was only worth 6.1 gallons. Next week it will probably be under 6 gallons. The scale is irrelevant, the principle your example illustrates in exaggeration is real (it's called inflation, should learn about it) and no different than what you claim to be a flaw of BC yet is a standard trait of all modern currencies. Your belief in fake monetary policies does not grant a worthless item any value anymore than the BC miner's belief in that currency's "realness" makes it solid.
 

jimlloyd40

Autocross Champion
That has got to be the most hilariously tone deaf and ignorant statement I have seen in quite some time. LMAO You believing in the governments "assets" and ability and willingness to stand behind the currency is somehow not a belief? Like I can somehow go to a store and say "No, no sir, you HAVE to give me a loaf of bread for these dollars........the government has office chairs and pens."



You're example is built on exaggeration to attempt to prop up your point, but in reality that exact situation can and does happen to so called "real" currencies everyday. Or was the Venezuelan Bolivar not a real currency? It was based on the "assets" of the government and their ability to collect a percentage of their GDP.............In that very REAL example the coin worth a $60,000 car was actually worth about $60 the next day.

I went into the gas station last week and dropped $20 on 6.55 gallons of gas. Today my $20 was only worth 6.1 gallons. Next week it will probably be under 6 gallons. The scale is irrelevant, the principle your example illustrates in exaggeration is real (it's called inflation, should learn about it) and no different than what you claim to be a flaw of BC yet is a standard trait of all modern currencies. Your belief in fake monetary policies does not grant a worthless item any value anymore than the BC miner's belief in that currency's "realness" makes it solid.
Your Bitcoin could drop to zero whereas for the dollar to be worthless it would have to be a catastrophic collapse of the entire economy.
 

GTIfan99

Autocross Champion

GTIfan99

Autocross Champion
Your Bitcoin could drop to zero whereas for the dollar to be worthless it would have to be a catastrophic collapse of the entire economy.

The US would have to cease to exist. No cryto would be worth anything either in the scenario.

I hate to sound like a broken record, but cryto is the future, but it will be centrally bank backed crytos, not a "currency" backed by some 27 year old.
 

GTIfan99

Autocross Champion
Honestly, I don't believe you. There's kinks for all types of people and nothing stopping you from putting up that OF page now if you wanted.

He already sent me nudes. He sent Jim's for free.

You missed the boat, man.
 

GTIfan99

Autocross Champion
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