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Offline feedthemcake

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Has anyone seen or commented on this yet?
« on: September 23, 2014, 02:45:31 PM »

EDIT: Yes, it's been commented on. Thanks below!

« Last Edit: September 23, 2014, 03:27:45 PM by feedthemcake »

Offline serejandmyself

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Re: Has anyone seen or commented on this yet?
« Reply #1 on: September 23, 2014, 02:55:43 PM »
Great! I love it! Ashame its on such a small source. Would be better is someone with a much more serious and a bigger blog wrote this!
By the way, im totaly serious! Why? Well, if you know you own a dollar and someone tells you that you don't, will you argue like an idiot? No, you will simply smile, and have a look at that dollar you own again.

Now dumb criticism is great, it shows that we entered a stage where people who instead of getting in (yes a bit late, but not too late) are finding excuses to write such things and make us "bad advirtesment" and "bad acceptence" - i use "" because there really is no BAD advertisment in this.

Enjoy the ride!
btsx - bitsharesrussia

Offline wrzkll

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Re: Has anyone seen or commented on this yet?
« Reply #2 on: September 23, 2014, 03:08:30 PM »
Dan did a back and forth with the guy at a later post. Read the comments...http://prestonbyrne.com/2014/08/24/what-goes-up/#comments


Offline emski

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Re: Has anyone seen or commented on this yet?
« Reply #3 on: September 23, 2014, 03:11:50 PM »
This has been discussed extensively here:
https://bitsharestalk.org/index.php?topic=7065

Offline wrzkll

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Re: Has anyone seen or commented on this yet?
« Reply #4 on: September 23, 2014, 03:54:43 PM »
One quick note i'd like to make regarding the back and forth...

Quoting prestonbyrne:

"Law-abiding people in developed countries benefit from not having their assets seized and also from substantial deposit guarantees. When they deal with “deposits” at functioning exchanges and regular banks, their deposit balance represents a contractual obligation on the depository institution to return those funds at par."

The FDIC DOES NOT have the capacity to cover ALLdeposits at US Banks. Sure, the Gov't/FED will step in a cover all deposits at whatever cost (Good luck printing even a trillion in physical USD paper notes on such short notice) but at that point it would be total chaos even if 10% of that cash tried to enter the physical plane.

Also note that this only covers US banks  :-X

Here's a visual to put things in perspective.



 

 

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