How is MGTBox rolling back and reversing all the bitcoin transactions if supposedly bitcoin transactions are non-reversible?
So much for bitcoins not having a "central authority" LOL! They are no different from the Central banks printing our currency. The actions of MGTBox have just proved this.
"No chargebacks or reversals" - PROVEN LIE
"No central bank/authority" - PROVEN LIE
"Safe" - LIE. CAN BE HACKED EASILY
This event has just proven that bitcoins are not de-centralized like they claim!!
Bitcoin is an amazing disruptive transaction system, that is a real threat to Paypal. Paypal was bought by ebay for 1.5 billion of dollars. So do you really think that bitcoins are worthless?
BitCoins will be the biggest scam of 2011... these ideologies have been around for decades.... the price will get hit hard and everyone will lose everything.
I think you should look closer at the bitcoin community that consist of some of the brightest minds who are trying to make this work. Bitcoin is so good that the CIA called in the project head for an interview.
I don't think you're a scammer. I'm still a subscriber of yours. I just disagree...I think you're getting a lot of heat that you don't really deserve on this.
You can't conterfeit bitcoin and you can't create bitcoin and bitcoin is not fiat, as no one decrees it.
The increase in supply is in no way dependent on the amount of people entering the market. Bitcoined is generated periodically, rewarding 50 bitcoins to someone that solves a block (will drop to 0 in the future). The system uses a nonce to adjust the difficulty of generating a hash (depending on the processing power of the network) of a block, so a block is created roughly every 10 minutes.
As the reward drops to 0, bitcoin generation will stop. Leaving the total number of bitcoins to be a bit less than 21 million - after that generation stops. You won't be able to make more after that. Learn more about bitcoin before talking nonsense.
Bitcoin will boom and bust, but it wont die because there is a utility for it which is transacting without big brother watching. That's going to become even more important when the time is right. I would not buy them now that's just me. Maybe after the hype settles, yes. And I would hold long. Bitcoin is like a banana that's still green.
They claim there can,t be inflation in bitcoins because there can never be more then 21,000,000 bitcoins but they fail to tell you that each coin can be slit into up to 8 decimal places, which if broken down to that degree would make more parts of bitcoions then there are stars in our galaxy. Or more then there are dollars and debt. in dollars. Rocky
Bitcoins clearly isn't the answer. Even if all the pro-bitcoins people were completely right and everybody calls bitcoins a ponzi are wrong. You still have to SELL the idea to the general public. The Pro s FAILED BIG TIME TRYING TO SELL THE IDEA, trying to sell the use of bitcoins. Not much point in it, if people REFUSE to use it.
That's what I want. If the free market wants it then good if not also good I am not arrogant enough to order to us a particular currency. The choice is yours but will do my best to show you why bitcoins will work.
LOL buttcoins. as if it makes any less sense or is any more volatile than our fake financial system anyway ! i dont see goldman sachs producing anything more tangible than some russian shitting out buttcoins
@outforsushi Also you need to becareful when you say you wish them well and make money from it. This is a system that have winners and losers, for everyone who profit, theres someone who lost, like a penny stock
p1. I've been thinking of ways to improve the bitcoin concept. I think this 21 million limit should be removed. It creates too much speculation that something will be rare thus causing the value to fluctuation way too much. It creates way too much incentive for ppl to jump in early to profit hugely. If you remove the limit and set bitcoin inflation to 2% every year, then this system can potentially work. It be like a Federal Reserve with a computer without people, something Monetarist prefer
@outforsushi p2 If we could remove the limit and expand the bitcoin supply so that its value is closer to its true intrinsic value e.g 1c. (whatever the cost of electricity to make it), then this system can potentially work as simply a medium of exchange like paypal, where there is no big winners and big losers in the exchange. It be like trading 1c for 1.01 cent
Bitcoins aren't an investment opportunity like this shithead would like you to think. It's an alternate currency that can't be inflated or regulated by government.
Bitcoins are a better currency, they're not a stock to buy and sell.
What the peon in this video doesn't understand is that people aren't buying bitcoins to make money, but to use a currency that can't be devalued by some jew printing too much of it.
@MoneyIsSilver what drugs are you on?? it doesn't take a govt to inflate something. anyone can do it. just like when they make a "limited edition" car and then keep making them. and when you say "better currency" you're being an idiot. it's another fiat scam. it dropped 665 in value. if that didn't wake you up to the fact that it's volatile then you're asleep. a garanteed value?? that drops 66pc ??? lol
@superfuzz First off dummy - no one can inflate bitcoin. It can only grow what the program permits, whereas fiat grows however the government permits.
What drugs are YOU on that you don't know that? Or are you just playing stupid?
Do you realize fiat means "by decree"..what government has decreed bitcoins the currency of the realm??
Of course you can't answer these questions. You're not really thinking about it - you're just a poop throwing monkey
@MoneyIsSilver omg are you confusing inflation with supply? inflation is when it's worth according to other commodies drops. like if it's value drops by 66% then it's VALUE is worth less, and the amount you need to buy something is INFLATED. everyone i see talking about bitcoins seems to be very confused about how these things work
@MoneyIsSilver You are very mature, talking about some "jew"! What is your heritage, you ignorant fool? Please dump all of your time and money into bitcoins and watch it vanish! Are you any better than a "jew", trying to create wealth out of thin air in the form of a virtual currency. Your computers humming along at night "mining" for bitcoins! Do you realize how ridiculous this whole thing is?
Great vid. They cannot be counterfeited though, and no matter what the states try to do, Bitcoin is a worldwide currency. I have my gold and silver but like the idea and hope it works.
Supply is not based on new miners. WRONG
stevenwagner 4 months ago
This has been flagged as spam show
How is MGTBox rolling back and reversing all the bitcoin transactions if supposedly bitcoin transactions are non-reversible?
So much for bitcoins not having a "central authority" LOL! They are no different from the Central banks printing our currency. The actions of MGTBox have just proved this.
"No chargebacks or reversals" - PROVEN LIE
"No central bank/authority" - PROVEN LIE
"Safe" - LIE. CAN BE HACKED EASILY
This event has just proven that bitcoins are not de-centralized like they claim!!
mysql0 8 months ago
Bitcoin is an amazing disruptive transaction system, that is a real threat to Paypal. Paypal was bought by ebay for 1.5 billion of dollars. So do you really think that bitcoins are worthless?
ExitTheMatrix 8 months ago
BitCoins will be the biggest scam of 2011... these ideologies have been around for decades.... the price will get hit hard and everyone will lose everything.
charlesfuchs 8 months ago
I think you should look closer at the bitcoin community that consist of some of the brightest minds who are trying to make this work. Bitcoin is so good that the CIA called in the project head for an interview.
davincij15 8 months ago
Thumbs up for not calling me a scammer.
davincij15 8 months ago 2
@davincij15
I don't think you're a scammer. I'm still a subscriber of yours. I just disagree...I think you're getting a lot of heat that you don't really deserve on this.
KIDiotequeA 8 months ago
This has been flagged as spam show
@KIDiotequeA
Thanks I'm cool with that.
davincij15 8 months ago
I agree with the point that is speculation that it will work.
davincij15 8 months ago
You can't conterfeit bitcoin and you can't create bitcoin and bitcoin is not fiat, as no one decrees it.
The increase in supply is in no way dependent on the amount of people entering the market. Bitcoined is generated periodically, rewarding 50 bitcoins to someone that solves a block (will drop to 0 in the future). The system uses a nonce to adjust the difficulty of generating a hash (depending on the processing power of the network) of a block, so a block is created roughly every 10 minutes.
kaliLeto 8 months ago
As the reward drops to 0, bitcoin generation will stop. Leaving the total number of bitcoins to be a bit less than 21 million - after that generation stops. You won't be able to make more after that. Learn more about bitcoin before talking nonsense.
kaliLeto 8 months ago
Tally sticks lasted 800 years. Fiat can work because money,even gold and silver, is just an agreement between parties.
Also default means that no one gets paid not that they get paid in somthing else ...
deadlizard64 8 months ago
Bitcoin will boom and bust, but it wont die because there is a utility for it which is transacting without big brother watching. That's going to become even more important when the time is right. I would not buy them now that's just me. Maybe after the hype settles, yes. And I would hold long. Bitcoin is like a banana that's still green.
lilbromarky1 8 months ago
They claim there can,t be inflation in bitcoins because there can never be more then 21,000,000 bitcoins but they fail to tell you that each coin can be slit into up to 8 decimal places, which if broken down to that degree would make more parts of bitcoions then there are stars in our galaxy. Or more then there are dollars and debt. in dollars. Rocky
rocky315w 8 months ago
Bitcoins clearly isn't the answer. Even if all the pro-bitcoins people were completely right and everybody calls bitcoins a ponzi are wrong. You still have to SELL the idea to the general public. The Pro s FAILED BIG TIME TRYING TO SELL THE IDEA, trying to sell the use of bitcoins. Not much point in it, if people REFUSE to use it.
Jahkillian 8 months ago
@Jahkillian
That's what I want. If the free market wants it then good if not also good I am not arrogant enough to order to us a particular currency. The choice is yours but will do my best to show you why bitcoins will work.
davincij15 8 months ago
Good points!
silverfuturist 8 months ago
bitcoin - useful for money laundering perhaps, nothing else.
Metals999 8 months ago
ETFs are the same thing as bitcoins
digits, pieces of paper
atleast ETFs were backed by something - the only problem is that they're created for assets that dont exist in the real world
everybody beware of all these scams- if it sounds too good to be true it is,
1x93cm 8 months ago
LOL buttcoins. as if it makes any less sense or is any more volatile than our fake financial system anyway ! i dont see goldman sachs producing anything more tangible than some russian shitting out buttcoins
analihilator 8 months ago
bitcoin is for idiots. i can't believe after all we've learnt about currency people are falling for it.
superfuzz 8 months ago
I like to give this video two thumbs up
outforsushi 8 months ago
@outforsushi Also you need to becareful when you say you wish them well and make money from it. This is a system that have winners and losers, for everyone who profit, theres someone who lost, like a penny stock
outforsushi 8 months ago
p1. I've been thinking of ways to improve the bitcoin concept. I think this 21 million limit should be removed. It creates too much speculation that something will be rare thus causing the value to fluctuation way too much. It creates way too much incentive for ppl to jump in early to profit hugely. If you remove the limit and set bitcoin inflation to 2% every year, then this system can potentially work. It be like a Federal Reserve with a computer without people, something Monetarist prefer
outforsushi 8 months ago
This has been flagged as spam show
@outforsushi p2 If we could remove the limit and expand the bitcoin supply so that its value is closer to its true intrinsic value e.g 1c. (whatever the cost of electricity to make it), then this system can potentially work as simply a medium of exchange like paypal, where there is no big winners and big losers in the exchange. It be like trading 1c for 1.01 cent
outforsushi 8 months ago
Bitcoins aren't an investment opportunity like this shithead would like you to think. It's an alternate currency that can't be inflated or regulated by government.
Bitcoins are a better currency, they're not a stock to buy and sell.
What the peon in this video doesn't understand is that people aren't buying bitcoins to make money, but to use a currency that can't be devalued by some jew printing too much of it.
MoneyIsSilver 8 months ago
@MoneyIsSilver what drugs are you on?? it doesn't take a govt to inflate something. anyone can do it. just like when they make a "limited edition" car and then keep making them. and when you say "better currency" you're being an idiot. it's another fiat scam. it dropped 665 in value. if that didn't wake you up to the fact that it's volatile then you're asleep. a garanteed value?? that drops 66pc ??? lol
superfuzz 8 months ago
@superfuzz First off dummy - no one can inflate bitcoin. It can only grow what the program permits, whereas fiat grows however the government permits.
What drugs are YOU on that you don't know that? Or are you just playing stupid?
Do you realize fiat means "by decree"..what government has decreed bitcoins the currency of the realm??
Of course you can't answer these questions. You're not really thinking about it - you're just a poop throwing monkey
MoneyIsSilver 8 months ago
@MoneyIsSilver omg are you confusing inflation with supply? inflation is when it's worth according to other commodies drops. like if it's value drops by 66% then it's VALUE is worth less, and the amount you need to buy something is INFLATED. everyone i see talking about bitcoins seems to be very confused about how these things work
superfuzz 8 months ago
@superfuzz That was the most incoherent rambling yet. Got anymore stupid things to say?
MoneyIsSilver 8 months ago
@superfuzz Keep in mind that by writing it down, your stupidity becomes immortalized.
MoneyIsSilver 8 months ago
@MoneyIsSilver You are very mature, talking about some "jew"! What is your heritage, you ignorant fool? Please dump all of your time and money into bitcoins and watch it vanish! Are you any better than a "jew", trying to create wealth out of thin air in the form of a virtual currency. Your computers humming along at night "mining" for bitcoins! Do you realize how ridiculous this whole thing is?
vambo13257 8 months ago
@vambo13257 You're just talking shit. I'm not trying to make more USD with bitcoins, I'm using bitcoins so I don't have to use dollars at all.
Now why don't you go outside and play a nice game of hide and go fuck yourself
MoneyIsSilver 8 months ago
@MoneyIsSilver You are very mature! Now grow up and realize that you are a fool for falling for this bitcoin scam, you racist slimebag!!
vambo13257 8 months ago
I have found NO one online who would accept them as payment
Romulan112 8 months ago
Great vid. They cannot be counterfeited though, and no matter what the states try to do, Bitcoin is a worldwide currency. I have my gold and silver but like the idea and hope it works.
PoboyMusic 8 months ago
great vid.
TruthOverFacts 8 months ago