What’s the Deal with Bitcoins?

I’ve never really given this ‘Bitcoin’ thing much thought, but I’d like to know what people think the deal is with them?

Based on simple logic I can see no way that they can be anything other than a scam. A Bitcoin is apparently backed by nothing other than a bunch of computer algorithms. So there’s no precious metal or substance backing them, and also no output of any real service or product. That should raise a few red flags, to put it mildly…..

When you have something that does nothing useful, like a Bitcoin seems to, then what do you really have? A bullshit scam as far as I can see. Apparently it started off with a really low value in exchange for real currency, then it went up dramatically, but it still does nothing. There’s nothing useful to it. It would be the same if I started printing money and said to people, “well, here you go, just believe it’s worth something and trade with it”. People would look at me as if I had four heads! That is, unless I was a really professional conman, which is what I suspect is going on with these Bitcoins. It appears to be an alternative scam to the mainstream Jew money scam. Whatever…….

It appears to be a load of bullshit to me....

It appears to be a load of bullshit to me….

This small article seemed about right to me:

Bitcoin: The Ultimate Scam

Here is a little brief introduction into Bitcoin. It has been around for roughly 3 years. The individuals who own it are unknown, it uses a peer to peer link to make sure there is always a database in existence.

HOW DO YOU GET BITCOINS: 

This is mind blowing (or as they say it in Blades of Glory, “MIND BOTTLING”) to anyone who lives in the real world. You simply download a bitcoin wallet software, download a “MINING” program onto your computer (MAC,PC,LINUX). This “MINING” program then runs algorithms using your CPU and Graphics card to solve a them. Depending on the specifications of your computer you are “mining” for bitcoins at a rate (faster the computer the more the bitcoins you earn). Seems easy? It is, it will simply cost you a lot on your electrical bill. Now note as the number of BITCOINS rises, it becomes hard to get them, so the longer you will have to run these programs on your computer to get 1 BITCOIN.

Here is my problem with “HOW TO GET BITCOINS”. They treat it like you are mining for gold? Really it is solving a bunch of useless algorithms that go NO WHERE! So imagine this, your light bulb breaks, you stand up and turn the switch on and off infinite times to get light. Get the point? No matter how many times you do this, no light comes on. This useless “MINING” program rewards you in this virtual currency called bitcoin when you run this program.

Hopefully those less computer savvy are still following around. In simple terms you doing a pointless thing to get some fake virtual coins that will exist in this fake virtual wallet. That’s right virtual. Like Barney and friends used to say. Use your imagination.

WHY DID ALL THESE PEOPLE “MINE” FOR BITCOIN?

Well, really to be honest, I have no clue. It makes no sense, either all these individuals own stocks in their utility companies or they spite their parents so they run up the electric bill. No one good reason comes to mind to run your computer at full capacity to do pointless algorithms. NOT ONE REASON TO GO FLICKER ON AND OFF A LIGHT BULB THAT HAS BURNT OUT.

Source Article

Anyway, I could be wrong about these Bitcoins, but it does smell a bit fishy, does it not?

Please, do leave comments. I want to know what people think about this topic!

– BDL1983

9 thoughts on “What’s the Deal with Bitcoins?

  1. Ytringer

    Yes, Bitcoin is fishy, indeed.
    The silly simulation of “golddigging” made me get suspicious. Wasting of energy to get “value”.
    However, this can be explained as a “fair” way of distributing the coins. Or as a way of marketing, as we have to admit that Bitcoin has been a success in that respect.

    But, about money. Money doesn’t have to have intrinsic value. Just as the dollar doesn’t have it. Dollars are just tokens today, as it is not backed by gold or anything else of value. So are all countries currencies. In that respect, Bitcoin is not worse than other currencies.

    Dollar got it’s name from the old Norse/Germanic word “Daler”/”thaler”. In modern Norwegian it is “teller”. Which means counter, someone or something that counts. Just as a teller in a bank.
    Money is just a way of keeping scores of debt. To count the debt.
    Please refer to the old system of Tallysticks. It is ancient but was also used in England around the 12th century. Before the Jews gained full control of England. http://en.wikipedia.org/wiki/Tally_stick

    As we can see money obviously doesn’t have to be backed by anything of value, as long as people have confidence in the system. It would however be better if there were real value or assets behind it. That would be very easy to implement. Not in bitcoin, but in a new similar system based on the idea of bitcoins, where the lackings of the Bitcoin system was fixed.

    1. BDL1983 Post author

      Hmmm, yeah money is a thing that doesn’t need intrinsic value, that’s true. What matters is that if a dollar is circulated, then the controlling authority must make sure a dollars worth of goods or services are produced. Like the 3rd Reich’s monetary principle: print a fiat currency and back it by the output of the nation. It works fine, provided consistent output occurs! Gold or silver isn’t necessary to make it work, although if you have some also, then all the better!

      1. Ytringer

        Yes, it would work if a “dollars worth” of services or goods were produced. That would be a sort of backing of the money value.
        When nothing, but the money, is produced we get inflation.

        The grand illusion of inflation is that people think it is an inevitable problem rising out of nothing, which our friends, the bankers(Jews), are constantly fighting for us. By rising and lowering of interest rates.

        In reality interest rates doesn’t control the money-supply, the printing of paper-money. It is the money-supply, the bankers printing of money, which controls the interest rates.

        Every time they have printed money for themselves, i,e. money without backing, to lend out for interest, for their own profit, they have to lower the rates in order to get the money into circulation.The inflation doesn’t come from the lowering of interest, but from the actual printing of unbacked money.

        I just said without backing, when I should have said real value backing it. A promise of future payment is not a real value. Especially when the debtor is over his head in such promises already.

        I think the real fallacy of the Jews system of usury is that it is somehow possible to spend before earning.And even worse today, the notion that you have to spend before earning.

        In nature, and in reality, you can’t borrow from the future, it is impossible. You can’t eat a deer-stake, and then go to hunt the deer for the stake.

        The fallacy of usury is something people should really wake up. The fraudulent financial system and its usury is what really gives our enemies their power and their opportunity to rule us.

  2. Pingback: What’s the Deal with Bitcoins? | JewishProblem.com

  3. GDSoldier

    Glad you asked Brett, Here’s a quick rundown on this latest snake oil on offer : }
    It runs a lot like the good ol Federal Reserve system, “currency” is created out of thin air (in this case- your own PC basically bruteforcing encryption routines) and gullible goy are persuaded to exchange real goods and services for the “new coin”, then conveniently and by pure coincidence a skilled hacker will penetrate that same user’s system (which has previously granted deep access remotely while you are “earning” coins!!) and voila! All your “cash” is gone, a kike got something for free and you lost!!!!!!!! Also very good for the yid to trade anything illegal without his fellow hooknose vermin taking a cut !! And sadly when the low IQ goy hears words like “crypto-currency” and “anonymity” they instantly want to give their hard earned cash to ratfaced kikes!!! P.S These same goy are the ones that bought shares in “Kikebook” and astonishingly they also lost everything : ) SEIG HEIL BROTHER!

  4. Ytringer

    This film has an explanation of the goal with Bitcoins. It may be to get people out of real-values like gold. I say buy gold and silver!
    The bitcoin part is around 17:40

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