Bitcoins - digital currency
Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. Advantages:
- Bitcoins can be sent easily through the Internet, without having to trust middlemen.
- Transactions are designed to be computationally prohibitive to reverse.
- Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
Total size 5,811,700 BTC
or 4,585,431 USD
or 3,545,137 EUR
or 133,094,323 RUB
or 3,849 ounces of gold
Any value to this idea or will it never work?
True or False:
Bitcoin transactions are truly peer-to-peer and require no third party.
That would never happen. BTC has been out for over a decade now and basically has zero utility other than people trading on speculation? lol - when BTC has any relevance in day to day transacting let me know.
I don't think it matters much if you think of BTC either as a store of value or a currency. The fact that there is rampant money printing now, and almost certainly will continue unabated for the near term makes an independent store of value very important.
Look what has been happening in the bond market the past few years. That cannot be a healthy sign for equities.
Many moons ago a friend told me they could wager btc at an online casino. He also told me he foolishly traded btc for camgirl coins on a smut website.
He told me his cousin bought a couple pizzas with btc.
Btc has plenty utilization.
One of BTCs few cons is its energy consumption.
What utilization? I can't buy anything with it currently that I'm aware of, only sell it to others.
I don't think it matters much if you think of BTC either as a store of value or a currency. The fact that there is rampant money printing now, and almost certainly will continue unabated for the near term makes an independent store of value very important.
Look what has been happening in the bond market the past few years. That cannot be a healthy sign for equities.
The problem for BTC is it has no utilization in society - I can't go to the grocery store and buy bananas with BTC - literally all I can do is sell or buy it on online markets. The biggest issue I see is if BTC started to become mainstream at some point where I could go to the grocery store and use it, the government would impose regulations to protect the USD rendering utilization minimal. Holding BTC right now is really pure speculation on the supply/demand and there's really no key factors to argue holding or selling. I don't think there's any indicators that would say BTC is going to 1 million quicker than it could go to 10,000.
The problem for BTC is it has no utilization in society - I can't go to the grocery store and buy bananas with BTC - literally all I can do is sell or buy it on online markets. The biggest issue I see is if BTC started to become mainstream at some point where I could go to the grocery store and use it, the government would impose regulations to protect the USD rendering utilization minimal. Holding BTC right now is really pure speculation on the supply/demand and there's really no key factors to
You don't see ANY utility in having a money that cannot be debased to inflation?
Zero utility in the only asset that there can never be more of? Everything else can be increased in supply -- RE, stocks, cash, gold, etc
Zero utility in having a money that can't be subject to jurisdictional laws?
Zero utility in the only asset you can cross borders with and travel with your entire net worth inside your head?
Bitcoin may not ever be spent to buy bananas, but maybe it will! By that time you will have missed the greatest asymmetrical bet of your lifetime, but Bitcoin will still welcome you with open arms when you are looking for a safe haven from fiat inflation.
The problem for BTC is it has no utilization in society - I can't go to the grocery store and buy bananas with BTC - literally all I can do is sell or buy it on online markets. The biggest issue I see is if BTC started to become mainstream at some point where I could go to the grocery store and use it, the government would impose regulations to protect the USD rendering utilization minimal. Holding BTC right now is really pure speculation on the supply/demand and there's really no key factors to
Can you go to the grocery store and buy bananas with gold?
Can you buy anything online with a physical $100 bill?
Hey wait a minute. What is money anyway?
Anyone who thinks BTC isn't currency so it doesn't have utility has already missed the plot.
The problem for BTC is it has no utilization in society - I can't go to the grocery store and buy bananas with BTC - literally all I can do is sell or buy it on online markets. The biggest issue I see is if BTC started to become mainstream at some point where I could go to the grocery store and use it, the government would impose regulations to protect the USD rendering utilization minimal. Holding BTC right now is really pure speculation on the supply/demand and there's really no key factors to
Genius insight. A non-cash flowing asset’s price is determined by supply and demand. Queue the mindexplosion.gif.
Can you buys bananas with your AAPL stock certificates? Or your house? Or a barrel of oil?
Already answered you before with this which you predictably were unable to refute.
GDP growth last 4 years: $6.6 trillion
US debt growth last 4 years: $11.6 trillion
“BiTcOiN hAs No UtiLiTy!!1!!1!”
Without BTC one could argue there would be no effective hedge against inflation/money printing.
Gold is a hedge but cost of carry make it a less than perfect hedge IMO.
Yet a lot of people have an underlying view that BTC was created out of nothing therefore has no functional value. In 2009 maybe 99.99% of people thought that way. Today, maybe 80%. In a few years, maybe less than 50% when the ship hits the sand.
What would a great limit buy be right now? 96.4K?
If someone wanted to HODL till say, early June, what price could they expect? Anywhere between 75K and 120K?
If someone was looking to be long for the next few months should they consider options for BTC, or just invest in an ETF?
What would a great limit buy be right now? 96.4K? market price
If someone wanted to HODL till say, early June, what price could they expect? Anywhere between 75K and 120K? 80 to 150
If someone was looking to be long for the next few months should they consider options for BTC, or just invest in an ETF? if you don't know what you're doing, just buy an ETF
answers in blue
I was calling for 88k last week... we almost got there.
Get ready for the wyckoff fake outs over the next two to three weeks
My best man's daughter is getting married and I had an interesting idea: I'm going to tell them that I am buying their gift in bitcoin right now(consider it x) and lets see what it is in August 😀
That would never happen. BTC has been out for over a decade now and basically has zero utility other than people trading on speculation? lol - when BTC has any relevance in day to day transacting let me know.
It's main use now it's reserve of value, bad money should be spent first, which is fiat money, but there are many cities and businesses I know of that take Bitcoin, of course people move the goalpost and say "no one uses bitcoin", "only nerds use bitcoin", "only 1% of the business use bitcoin", and so on...
