This political chat room is for you to sound off about any political ideology and discuss current political topics. Everyone is welcome, yes, even conservatives, but keep in mind, the nature of the No Holds Barred political chat forum platform can be friendly to trolling. It is your responsibility to address this wisely. Forum Rules
User avatar
walkingstick

Share      Unread post

User avatar
   
   
Posts: 457

suckers born every day. "step right up folks, buy the magic blue smoke."

User avatar
walkingstick

Share      Unread post

User avatar
   
   
Posts: 457

whether you call it ******* of bitcon, the whore takes all.

User avatar
Skans

Share      Unread post

User avatar
     
     
Posts: 2,346
Politics: Republican

None. I never believed in bitcoin. But, then again, I don't believe in the dollar either. Only stable, income producing companies have any genuine value.

User avatar
Blackvegetable

Share      Unread post

User avatar
      
      
Posts: 45,100

Antifa
Skans » 23 Jun 2022, 6:12 am » wrote: None. I never believed in bitcoin. But, then again, I don't believe in the dollar either. Only stable, income producing companies have any genuine value.
How is their income measured?

Geez...
 

User avatar
Skans

Share      Unread post

User avatar
     
     
Posts: 2,346
Politics: Republican

Blackvegetable » 23 Jun 2022, 6:37 am » wrote: How is their income measured?

Geez...
It could be measured in anything.  So long as the numbers going in are less than the numbers flowing out.  Profitable companies, businesses, or people are the measure of true wealth.
 

User avatar
Blackvegetable

Share      Unread post

User avatar
      
      
Posts: 45,100

Antifa
Skans » 23 Jun 2022, 6:38 am » wrote: It could be measured in anything.  So long as the numbers going in are less than the numbers flowing out.  Profitable companies, businesses, or people are the measure of true wealth.
In units of currency, Skans.

F'n A.
 

User avatar
Skans

Share      Unread post

User avatar
     
     
Posts: 2,346
Politics: Republican

Blackvegetable » 23 Jun 2022, 6:41 am » wrote: In units of currency, Skans.

F'n A.
Could be currency, gold, bullets, whatever people believe has value.  As long as 1) there is only one unit of measure and 2) more goes out than goes in, the company have genuine intrinsic value.  Currency does not have intrinsic value. 
 

User avatar
Blackvegetable

Share      Unread post

User avatar
      
      
Posts: 45,100

Antifa
Skans » 23 Jun 2022, 6:45 am » wrote: Could be currency, gold, bullets, whatever people believe has value.  As long as 1) there is only one unit of measure and 2) more goes out than goes in, the company have genuine intrinsic value.  Currency does not have intrinsic value.
No....it's called GAAP.

You can't report your income in units of your choosing.
 

User avatar
peepee

Share      Unread post

User avatar
     
     
Posts: 3,381

Skans » 23 Jun 2022, 6:12 am » wrote: I don't believe in the dollar either. Only stable, income producing companies have any genuine value.
:rofl:  

...earth to republican-radio-level dummy [and monetary ignoramus], the 'companies' about which you blather are controlled by the highest bidder$ of 'dollars'...the 'income' they produce is measured in 'dollars'...etc..ad nau$eam...whether you bidumptards 'believe in it' or not....  :loco:  

 ...alas, the loud,  :o   pathetic, brain-laundered republicrat.... always flailing at the leave$ of the tree of evil, never striking at the root$......  ;)   

 

User avatar
Skans

Share      Unread post

User avatar
     
     
Posts: 2,346
Politics: Republican

Blackvegetable » 23 Jun 2022, 6:46 am » wrote: No....it's called GAAP.

You can't report your income in units of your choosing.
Sure I can.  I am not a publicly traded company governed by the SEC reporting laws.
 

User avatar
Blackvegetable

Share      Unread post

User avatar
      
      
Posts: 45,100

Antifa
Skans » 23 Jun 2022, 6:50 am » wrote: Sure I can.  I am not a publicly traded company governed by the SEC reporting laws.
Then why report at all?


 

User avatar
Skans

Share      Unread post

User avatar
     
     
Posts: 2,346
Politics: Republican

Blackvegetable » 23 Jun 2022, 6:52 am » wrote: Then why report at all?
I don't.  You mentioned GAAP, not me.
 

User avatar
Blackvegetable

Share      Unread post

User avatar
      
      
Posts: 45,100

Antifa
Skans » 23 Jun 2022, 8:32 am » wrote: I don't.  You mentioned GAAP, not me.
If there is no measure, how do you know if your business is profitable?

User avatar
Xavier_Onassis

Share      Unread post

User avatar
     
     
Posts: 1,886
Politics: Progressive

Skans » 23 Jun 2022, 6:50 am » wrote: Sure I can.  I am not a publicly traded company governed by the SEC reporting laws.
The next time you report your income, then, instead of writing down your income in dollars, write down the equivalent in Bitcoin, Guaranis, Sheckels or Nairas.
The IRAs requires everyone to report their income yearly.
Don't they also require to report it in US dollars?

User avatar
Xavier_Onassis

Share      Unread post

User avatar
     
     
Posts: 1,886
Politics: Progressive

Bitcoin is a gamble. Lots of people have made fortunes trading crypto currency. Many have also lost fortunes.
It is probably a better gamble than state lotto tickets or powerball, but I am not playing.
I do not think that Bitcoin will cease to be.
I notice that you can buy actual Bitcoin bitcoins on Wish, your choice of gold or silver color. I am sure that many a scam is possible using these.

User avatar
Skans

Share      Unread post

User avatar
     
     
Posts: 2,346
Politics: Republican

Xavier_Onassis » 23 Jun 2022, 8:39 am » wrote: The next time you report your income, then, instead of writing down your income in dollars, write down the equivalent in Bitcoin, Guaranis, Sheckels or Nairas.
The IRAs requires everyone to report their income yearly.
Don't they also require to report it in US dollars?
I presume you mean IRS.  Yes, they want it reported TO THEM in dollars. Barter income must be converted into US dollars based on fair market value.  So, if you are using bullets or gold, you have to use the USD fair market value for the IRS. 

But, that's really irrelevant.  The Dollar has no intrinsic value. Outside of some very limited industrial use, Gold has no intrinsic value either. But, a company that, through its processes, takes in less of a value-measurement (such as dollars) and churns out more value than it took in, has intrinsic value.  The whole is worth more than the sum of its parts (i.e. liquidation value)
 
 
 

User avatar
Xavier_Onassis

Share      Unread post

User avatar
     
     
Posts: 1,886
Politics: Progressive

The dollar can be exchanged for Euros, Pesos, Reis, Colones, and Rands as well as pretty much any merchandise that one might wish to purchase.
Only a few places will accept payment in Bitcoin, Dogecoin or Ethereum.
So the US Dollar is more useful than any digital currency.
The only things that are really useful to humans are food, shelter and clothing. But lots of luck bartering porkchops, t shirts or lodging for any of your needs.

Who is online

Users browsing this forum: Al Donal, Arris, Baidu [Spider], Beekeeper, Bill Gates [Bot], Buffalo, Cannonpointer, ConsRule, DeplorablePatriot, Doug1943, Famagusta, GHETTO BLASTER, Google [Bot], Google Adsense [Bot], Google Feedfetcher, Hank, Holdor, Independent, Jantje_Smit, jeffey17, jefftec, Jinn Martini, Monderegal, nefarious101, NEILCAR, Neo, neue regel, PaperLi [Bot], Pastafarian, razoo, roadkill, ScottMon, Semrush [Bot], SJConspirator, Smoove Chocolate, sooted up Cyndi, Spartan, Squatchman, Steve Jobs [Bot], Taipan, TB7, thelion, Twitter [Bot], Vegas, walkingstick, Warcok, Xavier_Onassis, Yandex [Bot], Zeets2 and 545 guests