Bitcoin

#327
#327
n_huffhines said:
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Interesting. Do you think Bitcoin or blockchain currency cannot be extorted?
 
#328
#328
Orange_Crush said:
I haven't gotten into it. I'm questioning when I will. Not if.

I have little interest in bitcoin as an investment. I'd like to see it take off as an alternate currency, actually.
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I have a friend who got into it very early. He keeps it hush hush.

I could never understand it enough to go for it.

Why would you like to see it as an alternate currency?
 
#329
#329
McDad said:
I have a friend who got into it very early. He keeps it hush hush.

I could never understand it enough to go for it.

Why would you like to see it as an alternate currency?
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More idealism than anything. I want a currency that isn't created by the FED, created from nothing by private corporations, and loaned into existence at the expense of the population.
 
#330
#330
McDad said:
I have a friend who got into it very early. He keeps it hush hush.

I could never understand it enough to go for it.

Why would you like to see it as an alternate currency?
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He is probably kicking himself for not selling it when it was $19K.
 
#331
#331
Orange_Crush said:
More idealism than anything. I want a currency that isn't created by the FED, created from nothing by private corporations, and loaned into existence at the expense of the population.
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Gotcha. In hopes BC will erode the hold the Fed has on us?
 
#333
#333
SpaceCoastVol said:
He is probably kicking himself for not selling it when it was $19K.
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Actually, he continues to work and has a laissez faire attitude about it. He feels if it vanishes, no biggie and if it remains viable, great for their retirement.

I know he cashed some in to buy his wife a Mercedes.
 
#335
#335
SpaceCoastVol said:
While you might be right that the establishment is afraid of it, that won't make it tangible and mainstream. Quite the opposite actually. For awhile. It very well might trend towards mainstream acceptability, but it will take awhile.
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Ripple is already there. I'm not even talking about XRP as as currency, where it already performs very well.But Ripple has already proven scalable cross-border transactions, and they are very mainstream with adoption by major global financial institutions. BTC will eventually lose it's market share as the #1 cryptocurrency, but that's a good thing with better blockchains solving the problems inherent with BTC and the difficulty in mining larger blockchain transactions.
 
#336
#336
Franklin Pierce said:
Microsoft co-founder Bill Gates said Monday he would bet against bitcoin if he could.

"As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment," Gates said on CNBC's "Squawk Box."

"I agree I would short it if there was an easy way to do it," he said.


When it comes to bitcoin, billionaire investor Warren Buffett wants to make one thing clear: Unlike buying stocks, bonds or real estate, buying bitcoin is not an investment.

That's because it lacks intrinsic value, Buffett says.

"If you buy something like bitcoin or some cryptocurrency, you don't have anything that is producing anything," Buffett says in an interview with Yahoo Finance. "You're just hoping the next guy pays more. And you only feel you'll find the next guy to pay more if he thinks he's going to find someone that's going to pay more.



"You aren't investing when you do that, you're speculating."

"f you ban trading in ... bitcoin, which nobody knows exactly what it is, people would say, 'Well why in the world would I buy it?'"

"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," Buffett told CNBC in January. "When it happens or how or anything else, I don't know."
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Gates can bet against BTC, simply take a short position on the futures contracts. More obfuscation by a dirty globalist elite.

Buffett doesn't understand BTC or cryptocurrency. That's not a knock, as one of his rules of investing is to never invest in something you don't understand. He missed the tech boom of the 1990s because he didn't understand it. That's fine, real estate, railroads, and insurance have worked out very well for him. But to argue that there there's no intrinsic value in CRYPTOCURRENCY, not necessarily Bitcoin, is either an outright lie or an uneducated statement.
 
#337
#337
GoVolsDR said:
Ripple is already there. I'm not even talking about XRP as as currency, where it already performs very well.But Ripple has already proven scalable cross-border transactions, and they are very mainstream with adoption by major global financial institutions. BTC will eventually lose it's market share as the #1 cryptocurrency, but that's a good thing with better blockchains solving the problems inherent with BTC and the difficulty in mining larger blockchain transactions.
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Well I think you actually hit on a bit of a problem. There is no standard. With the crypto world fractionalized if you will there will be no clear winner. But.... BetaMax eventually gave way to VHS And 8 track to cassettes so I guess a winner could eventually rise to the top. It sill be interesting to watch, but like someone else said, it is the technology that is interesting, not necessarily the 'money'.
 
#338
#338
Can you buy food with bitcoin?

Can you pay for a car with bitcoin?

Can you pay a medical bill with bitcoin?

Can you pay your mortgage payment with bitcoin?
 
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#342
#342
pizzaDominoes, Pizza Hut And Papa Johns Now Accepting Bitcoin - Crypto Daily™

grocery stores Grocery Stores that accept bitcoin in United States

cars Car Dealers that accept bitcoin in United States

apartments, couldn't find any home mortages that did Apartments that accept bitcoin in United States

health care Medical Centers that accept bitcoin in United States

those are what I found, that spend bitcoin website has tons of options. didn't dig around to see what exactly you can buy, but strictly speaking yes bitcoin can pay for those things without conversion.
 
#343
#343
Franklin Pierce said:
Can you buy food with bitcoin?

Can you pay for a car with bitcoin?

Can you pay a medical bill with bitcoin?

Can you pay your mortgage payment with bitcoin?
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This is the problem that a variety of ethereum-based blockchain projects aim to solve. It's bigger than just Bitcoin. It's about which cryptocurrency(-ies) will emerge. As a peer to peer payment option, Dash digital cash is a great example of a currency that already exists where the payments are instantaneous, and processing fees are far less than what you'll experience with a standard credit card merchant.
 
#344
#344
GoVolsDR said:
Gates can bet against BTC, simply take a short position on the futures contracts. More obfuscation by a dirty globalist elite.

Buffett doesn't understand BTC or cryptocurrency. That's not a knock, as one of his rules of investing is to never invest in something you don't understand. He missed the tech boom of the 1990s because he didn't understand it. That's fine, real estate, railroads, and insurance have worked out very well for him. But to argue that there there's no intrinsic value in CRYPTOCURRENCY, not necessarily Bitcoin, is either an outright lie or an uneducated statement.
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Buffett approaches bitcoin the same way he does gold. Neither are an asset that produce anything. They are reliant on someone else coming along and paying more than you did. The value of bitcoin is rather immaterial, it’s the blockchain technology behind it that has incredible potential far beyond financial transactions.
 
#345
#345
SpaceCoastVol said:
Well I think you actually hit on a bit of a problem. There is no standard. With the crypto world fractionalized if you will there will be no clear winner. But.... BetaMax eventually gave way to VHS And 8 track to cassettes so I guess a winner could eventually rise to the top. It sill be interesting to watch, but like someone else said, it is the technology that is interesting, not necessarily the 'money'.
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That's what's so exciting with Crypto. It's like the dotcom boom of the 90s. Pick 10 projects that are intriguing and have potential, and invest. 9 out of 10 may fail, but that 1 winner can potentially have the scale and scope of an Amazon or Netflix. Granted you'll surely run into projects that will go the way of Pets.com, but this is another fairly unique aspect of crypto. You can see what the developers are doing with the projects, where their networks are at, their vision for the blockchain. If you don't like what you see in a project's or currency's community or the development progress, you can get in and get out at any given time. Always set your entry and exit points both ways, and you won't get burned. I'm not recommending that anyone signs up on a leveraged exchange where you can trade crypto pairs against the USD on margin.
 
#347
#347
GoVolsDR said:
That's what's so exciting with Crypto. It's like the dotcom boom of the 90s. Pick 10 projects that are intriguing and have potential, and invest. 9 out of 10 may fail, but that 1 winner can potentially have the scale and scope of an Amazon or Netflix. Granted you'll surely run into projects that will go the way of Pets.com, but this is another fairly unique aspect of crypto. You can see what the developers are doing with the projects, where their networks are at, their vision for the blockchain. If you don't like what you see in a project's or currency's community or the development progress, you can get in and get out at any given time. Always set your entry and exit points both ways, and you won't get burned. I'm not recommending that anyone signs up on a leveraged exchange where you can trade crypto pairs against the USD on margin.
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Pass. Too speculative for my blood. I hope you get filthy stinking rich. Seriously.
 
#349
#349
Franklin Pierce said:
I wonder if anyone is really getting rich except for the people who are promoting it.
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I'm sure there are some people that have made a bunch of money trading it. There are just as many that have thought about jumping out of 10 story windows as well. It's not my cup of tea for sure. I'll trade AMZN and AAPL etc.... options instead.
 
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#350
#350
More than 800 different brands of cryptocurrency created over the past 18 months are now dead, in what some are seeing as signs of the bubble starting to burst.

Even Bitcoin – the standard bearer for digital money – has seen a 70 per cent fall from its record high of almost £15,000 ($20,000) in December 2017.

Economists and other experts have long warned about the temporary fortunes of the sector, which some have compared to the dotcom bubble at the turn of the 2000s.

Warren Buffett, one of the most influential and successful businessmen of his generation, has continuously talked about an imminent cryptocurrency bubble burst.


Has cryptocurrency bubble burst as Bitcoin falls 70% from record high? | Daily Mail Online
 
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