Living on Bitcoin

Interesting documentary, pay attention folks this is the future.
http://247cryptonews.com/morgan-spurlock-the-living-on-bitcoin-full-documentary/

 

Good show.

 

Yeah I enjoyed it very interesting

 

lesson....let everyone else go thru the trial run.

i will wait on you guys to get side swiped.

 

I remember people saying the same thing about Google, Apple, Ford, Boeing
The thing about game changers is everyone always has great hindsight but very little vision.
And to be honest with you I don't know if bitcoin itself will be that game changer but it's paving the way much like Myspace did for Facebook but in contrast there was no other car company paving the way for Ford. So sometimes you gotta jump in and just swim homie.
Like I offered before I am more than happy to educate some of you on this free of charge (and not to brag but my time on this subject is expensive)

 

true. true. i can see how itbwould be good in that it will eliminate the exchange rate.

my problem , the big one, its not tangible or relies too much on tech. only saw a small bit.

to me its like the cars with the tech of today and now they are saying those cars can be hacked a.nd they can take over yoyr car.
im not messing with it. lol

lol. i wonder if thete are two people still on myspace.
i may have looked at myspace by didnt get into it.

i just got fb six months ago and im on it once n awhile playing games.

 

Well it's purpose isn't to replace fiat (physical money) there will always be a need for tangible money. If anything its suppose to compliment real money and challenge digital practices like credit cards and money transfer systems like Western Union that require so much in transaction fees. Aren't you tired of paying the bank a fee to take out your money. Its around 5 to 7 dollars every time I use an atm (2.50 to 3.50 I pay to my bank and the same to the bank I'm taking the money from).
I hear you about the car thing but planes have had the same technology for years and I've yet to hear of a plane being taken down by hackers.
There's always challenges with new technology but you debate that email isn't better than old school mail or cell phones aren't better than pay phones?

 

oh ok. i see where u going

 

If I can live off food stamps I can definitely live off bitcoin

 

Setting up an alternative,virtual monetary and exchange system is several levels of difficulty magnitude greater than starting a web browsing company, or designing computer software, or manufacturing cars.

There is a real threat of exploitation of bitcoin by hackers which is very problematic for me.

It's fascinating because everyone talks about the need for a change in our monetary system, but I'll sit on the sidelines on this one until bitcoin proves its a longterm player.

I saw part of that Spurlock special and many of the bitcoins reps didn't look like serious people.

I do NOT want the dude handling my finances to come off like a cross between a used car salesman and the MC at a carnival freak show.

I want my financial adviser to have the vibe of a funeral home director.

Serious as a heart attack.


I'm more in favor of community run, co-op banks for instance, than something like bitcoin.

 

I agree...curious what your take is on the recent hack of banks all over the world resulting in billions of dollars stolen

 

And you know this how?
Do you code? Do you know anything about blockchains?
I can bet the answer is no so please refrain from speaking as if you know what you're talking about.
And do you think the current system isn't heavily exploited? Market crash 87 and 08 taught you nothing?

And contrary to what you said a monetary exchange system is far easier than creating cars and computers
It's gaming the system to benefit a few is where the genius lies.

 

well like i stated earlier...people have a problem with tech today. banks , major retailors and hospitals are getting hacked.

hes just stating everyones trepidations.

it doesnt make u ignorant...it means you are cautious.

 

When you decide to respond to another poster's legitimate concerns about an issue, you're much better off refraining from the geek-snob insults and personal attacks.

What I am is an end user, and if shit doesn't work when I get my hands on it, you're selling shit and trying to hustle suckers.


Who the fuck builds cars to have an opinion about them??
Do YOU write code????


Setting up an alternative monetary system to be anything more than a club currency requires 100s OF MILLIONS of users, so yeah I'd say it's way more difficult than starting a Fortune 500 company.

Particularly when you're selling a virtual product with trust issues for most consumers.

If your opinion and attitude are typical of bitcoin advocates, I don't see a long shelf like for it as a monetary exchange.
Realistically, the major banks worldwide would never give up their market share to bitcoin, and if it ever really started catching on, the international banks would co-opt it.

You've got a faction of Americans who are still pissed that we went off the gold standard under Nixon. What the hell exactly is backing bitcoin which has any real world value??

I'll be honest, this sounds like a sucker's game invented by a Goldman Sachs/JP Morgan PhD analyst to siphon off cash from the unaware.

Tell me why I NEED bitcoin opposed to how I do my finances now??

Being 'new' and 'cool' isn't a compelling argument for someone to transfer all their financial assets into a repository like bitcoin.


Man, the garbage that comes out of your mouth sometimes...

Bitcoin is unhackable??? Puhleeze.



There is no such thing as lock safe internet security.
At best you have security deterrents, but if a hacker(s) are truly determined to corrupt and exploit an internet based system, it's going to happen.

That's why many bank customers don't do transactions over the internet, to create another wall of security.

 

Absolutely Bitcoin is hackable. FYI, Sites that traded it have dissapeared overnight. Gone.
Bitcoin losses are not protected. No FDIC.

Two very informative reads...

Bit Con?
Veteran fraud expert sets his sights on Bitcoin*

http://fortune.com/2014/10/24/bitcoin-fraud-scam/


PayPal washes its hands of bitcoin scam

http://www.theguardian.com/money/2014/mar/01/paypal-bitcoin-scam-ebay

 

from what i gathered bitcions has a nefarious beginnings.

 

First off I've yet to see any evidence that bitcoin or any cryptocurrency is hackable. Unlike the fiat we use I've yet to see any counterfeit coins produced. Have exchanges been hacked? Yes and that's because this is because a lot of exchanges had poor security but to keep it in perspective there have been far less bitcoin exchange hacks than to bigger servers like Apple, Sony, and even the government. The coin itself has served has a great frictionless low cost way to transfer goods and services from to peer to peer.
Goodlove I think bitcoin has gotten bad press but ask yourself this how is it anymore nefarious than regular money?

 

Dude you speak with such authority on a topic I doubt you've spent much time with.
And when have you had an encounter where bitcoin itself doesn't work? I'm curious.
The world banks have little control over what people may do peer to peer unless we're living in a complete police state like Russia or China. That's like saying the communication companies would never allow their giant multi trillion dollar systems to be disrupted by free ways to communicate like.... the internet.
And what exactly backs any money we use outside the word of people who just create nothing but ever rising inflation? Many of government backed fiat has fallen and/or been co opted by the government where they control how much of your money you have access to. Read up on the people of Venuzela and Cyprus.
What essentially drives the value of most things these days is not just utility but people actually choosing to believe it has value. How and why is Whats App worth billions? What does it offer that other communication platforms don't offer like text messaging or emailing doesn't offer?
Why is fb worth so much when it is far from the only social networking platform there is?
Value is created by users not by some central authority telling you it's valuable.
You don't HAVE to use bitcoin I'm just saying its an easier way to do a lot of what we've been doing digitally for years and the greatest thing about cryptocurrency in general to me is it can be generated your computer solving problems. How cool is it that you can earn money just leaving your computer on and letting it solve complex math problems.

 

lol you put up a thread and people state they dont trust it and u get mad?

wow.

thats funny.

 

Welcome to WWBM ....we already had a thread on bitcoin and he begged people to ask him for advice over there as well...no one is interested or biting on his valuable advice...I wouldn't be surprised if this crap is multi level marketing...just about as annoying as the Nerium people