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Cryptocurrency rivals snap at Bitcoin's heels

14 Comments
By PIERRE TEYSSOT

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14 Comments
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Another day, another load of cryptocurrency PR. Japanese media really doing the governments bidding here....

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I have my savings in real money American dollars and Japanese yen. Bitcoin is fake money created and not backed up by a government. In the states it is said a fool and their money are soon parted. The real winners are those that created it and the few that by timing did well.

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Buy buy buy! It's still not too late to invest in Ripple and other Altcoins, a year from now people who don't invest will be sorry!

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Bitcoin is fake money created and not backed up by a government.

It's no more fake than any other currency, and not being backed by a government is its strong point, especially seeing as it also cannot be prevented by any government.

The real winners are those that created it and the few that by timing did well.

Why do you say the guys who created it won? There are a whole lot of coins out there attributed to the founder's account, and none of them have been used. You guys keep claiming that bitcoin will collapse. So how exactly have the creators 'won' if they are only holding what you guys consider to be a worthless currency?

1 ( +2 / -1 )

Why do you need validation from the other posters all the time?

Who needs validation? I'm simply pointing out the ridiculousness of their comments.

If you hold bitcoin and are enjoying the party, then go ahead.

I hold very little bitcoin, and don't have much interest in buying it, until it become stable. I'm not enjoying nor hating the party either way. I don't have a horse in this race.

Obviously many of us do not feel comfortable risking our real money in a computer program.

Good for you guys. If posters were saying 'I don't feel comfortable risking my money in a computer program', that would be entirely fine. I don't feel comfortable risking my money in bitcoin either - but not because it's a computer program (pretty much ALL of your money is controlled by computer programs, don't fool yourself). The problem as I see it is people who have no clue what they are talking about spouting misinformation about the system. For those of us who actually understand how it works, it's like reading someone who has never been to Japan saying 'I don't trust the Japanese because they sell used panties in vending machines on every corner'. It would be a ridiculous comment. I see just as ridiculous comments about bitcoin on every thread, and they are as clearly ridiculous as the idea that there are used panty vending machines on every corner.

1 ( +1 / -0 )

@Strangerland, if you don't find the below anecdote ridiculous and clearly blind speculation, then that is shocking to me.

What does that quote have anything to do with anything I've said?

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the resident expert on cryptocurrency then how can you explain the ridiculous value of Ripple which I pointed out.

I know how block chain technology works. I have no clue how Ripple works. So as to how I can explain anything about it, the answer is that I can't.

Bitcoin is crap, a farce, and you will soon lose whatever little bit of gain you have.

Again, I have no horse in this race - I've never put any money into it, and I've already gotten more well more value out of it than that which I put in.

But as to your claim it's a crap/farce, please be more specific, what about it is a farce? Who is lying to you about what?

But enjoy the party while it lasts.

??? Why would I enjoy it or not?

1 ( +1 / -0 )

Rookie article, everyone knows you make money from percentage movement and not value.

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@gogogo ... yes, true, though....

A change from 1 to 2 is 100% but still only +1.

A change from 10000 to 11000 is only a mere rise of 10%, yet you end up with lunch money of 1000 (more useful than 1).

A 30% drop from 10,000 followed by a 30% rise is not the 10,000 you started with, instead you end up with a loss of 900.

Just some different way of looking at things.

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