Official saddo financial thread

**walrus** · 10-02-2017 03:22 PM

Originally Posted by brocktonblockbust

How am I not in South Korea right now?

Because u are full of shit

**walrus** · 10-02-2017 03:30 PM

I really was going to buy crypto. The returns have been incredible but I just don't understand it. Everyone says oh it's great the ZOG and the central banks don't control it but nonetheless it is still a fiat currency and value is determined only by demand. I just don't trust it. I do however love the block chain technology behind it. It is impossible to be hacked as it would involve hacking into every computer involved in anyone that owns it so literally millions and all at the same time. I do want to invest in block chain technology as they are saying it's like the cloud 2.0 and companies are already developing uses for it including governments. Gold, for me, i desire as it is something tangible I can hold.

**Gandalf** · 10-02-2017 03:54 PM

Crypto like Bit coin is just as good as gold in terms of reasoning. It isn't FIAT as there is only a limited supply of Bitcoin, but it does have flaws. For instance, when an EMP hits or you end up like Puerto Rico there really isn't much you can do with it. China is already clamping down on it, but like you pointed out, governments will want to use crypto as a means of ultimate control. Basically I want freedom and it's harder and harder to have freedom.

**Gandalf** · 10-02-2017 04:04 PM

I say just buy the gold and stop procrastinating. 1300 is around average over the last several years. It is something that always has value whether up or down a bit. If you are thinking long term you don't care if they hit the paper markets and bring it to 1200. You are thinking of the future not what will it be worth a year from now.

**walrus** · 10-02-2017 04:25 PM

Originally Posted by Gandalf

Crypto like Bit coin is just as good as gold in terms of reasoning. It isn't FIAT as there is only a limited supply of Bitcoin, but it does have flaws. For instance, when an EMP hits or you end up like Puerto Rico there really isn't much you can do with it. China is already clamping down on it, but like you pointed out, governments will want to use crypto as a means of ultimate control. Basically I want freedom and it's harder and harder to have freedom.

Miles it is Fiat, fiat has nothing to do with how much is available but the fact it is based on nothing but what people think it's worth. Some economists argue it is a Ponzi scheme as the only thing bringing up the price is those getting in now. Some of these Bitcoin guys think the value will never drop. That would mean crypto is the only investment vehicle in history that had never had a correction or crash. Bitcoin and such is nothing but a modern tulips craze @Gandalf

**Gandalf** · 10-02-2017 07:40 PM

It is a limited supply of nothing though which differentiates it from Fiat. The supply of Bitcoins is limited and cannot grow forever. Fiat currencies are all based on ponzi schemes and growing forever. Quite different. An ounce of gold will always buy you a new suit, the same cannot be said of 5 dollars.

**walrus** · 10-02-2017 08:24 PM

Originally Posted by Gandalf

It is a limited supply of nothing though which differentiates it from Fiat. The supply of Bitcoins is limited and cannot grow forever. Fiat currencies are all based on ponzi schemes and growing forever. Quite different. An ounce of gold will always buy you a new suit, the same cannot be said of 5 dollars.

https://www.google.com/amp/s/www.for...ust-a-car/amp/

@Gandalf you r prob need reading these links I slupply but yes Bitcoin is fiat. It does not matter that it is limited it matters what asigns it's value. It is even more risky than traditional fiat. The US dollar being fiat has value as people trust in the us economic system and the governments backing. Bitcoin is based on what. You can't say oh it's limited as that is not an answer. The dollar had crashed in the past even under the gold standard. Bitcoin is confusing as we did not grow up with it but to begin to understand you must grasp that it is a fiat currency. The article above begins to explain it. Several other links in my fine financial thread do the same and even explain why the whole crypto thing is a Ponzi scheme