You mean that paper with presidents' pictures on them? Lol
The bitcoin market is collapsing
- CoalisCoolxWarm
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That funny money is not Constitutional Money all that is based on faith
and trust in the US can pay their bills .
https://www.forbes.com/sites/briandomitrovic/2018 ... dfe7645cd2
Here is all the Constitution says about the money power of the government. From Article I, Section 8, there is “Congress shall have Power…to coin Money, regulate the Value thereof, and of foreign Coin.” And from Section 10, “no state…shall make any Thing but gold and silver Coin a Tender in Payment of Debts.” That’s 27 words, some of them offbeat or capitalized like in German, pertaining to monetary policy in the founding document of the government of the United States.
Paper money is the worst because it has no intrinsic value , unlike silver
and gold and other metals , even a coin of steel would have more value .
https://en.wikipedia.org/wiki/Legal_Tender_Cases
BigBarney
and trust in the US can pay their bills .
https://www.forbes.com/sites/briandomitrovic/2018 ... dfe7645cd2
Here is all the Constitution says about the money power of the government. From Article I, Section 8, there is “Congress shall have Power…to coin Money, regulate the Value thereof, and of foreign Coin.” And from Section 10, “no state…shall make any Thing but gold and silver Coin a Tender in Payment of Debts.” That’s 27 words, some of them offbeat or capitalized like in German, pertaining to monetary policy in the founding document of the government of the United States.
Paper money is the worst because it has no intrinsic value , unlike silver
and gold and other metals , even a coin of steel would have more value .
https://en.wikipedia.org/wiki/Legal_Tender_Cases
BigBarney
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I remember when they were worthless. People were selling them on eBay 50,000 bitcoins for $50. Wish I had bought a few hundred thousand.
- lsayre
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I believe they were 6 cents when introduced. Now 6 cents is ballpark $27,000. Every Dollar invested is now $450,000. The guy who launched this charade is a multi-billionaire, and may be the richest man on earth, and no one knows who he is or where he is. And I'm sure that's just fine with him.
- lsayre
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Section 308 of the new NDAA bill is likely intended to regulate (and potentially do damage to) cryptocurrencies. A US Government lawsuit was just filed against cryptocurrency 'XRP', and its value has fallen 60% today in response.
- lsayre
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Bitcoin is knocking on the door of $40,000. There are now more than 1 Trillion Dollars invested in Bitcoins. This dwarfs the size of the worlds silver market. I just read that the 20 most wealthy billionaires are each individually worth more than all of the physical silver above ground.
- coaledsweat
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Larry, are you holding any of this crypto stuff?
- freetown fred
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Larry, do you really believe all this nonsense will actually pay off?
- lsayre
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Indeed! Even Paypal is accepting it now. But I also think it will collapse at some juncture.freetown fred wrote: ↑Fri. Jan. 08, 2021 10:04 amLarry, do you really believe all this nonsense will actually pay off?
https://www.cnn.com/2020/10/21/investing/paypal-b ... index.html
- freetown fred
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I totally agree with the collapse aspect----just another yuppie ploy to change the world for their profit!!!
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Buddy of mine has 3 bitcoin he bought back in '17 @ 2300. He is currently a happy camper. For how long, TBD...