Bitcoin

#180
#180
The identity of Satoshi Nakamoto has been revealed
bernie-madoff-460_1205171c.jpg
 
#188
#188
I submit we all really do understand what Bitcoin is all about IMO. It really makes not a lot of difference if we call or label something a dollar, a ruble, a steaming pile of crap, or a bitcoin if we take one or more of these and ask to exchange goods or services with someone for any one of them and to the extent they do or do not, that's what is actually worth. Regarding Bitcoin specifically, can I take one deposit it to my bank and buy groceries at Publix with it? The answer then for me is Bitcoin is more like the worth of s steaming pile of crap than it is a US dollar. Can I take my dollars and exchange them on some sites for equivalent bitcoins and reverse it? Yes, that value fluctuates minute by minute, as recently as yesterday, 12/22 for example Bitcoins were worth 25% less value than they were on 12/21. Are people today able to make money speculating with Bitcoin? The answer is yes, but they also can lose money speculating with Bitcoin. Have some people avoided paying taxes on Bitcoin speculation? The answer is yes. Are drug dealers, terrorists, and other criminal elements moving wealth around using Bitcoin? For sure. Have extremely wealthy Asians been found in the past to have the ability to manipulate the Bitcoin market? The answer is yes b ut Bitcoin afficionados say they've cleaned it up. Bitcoin is becoming more regulated every day, Goldman Sachs this week announced they are opening a desk for crypto currencies. The Chicago exchange now trades Bitcoin so every transaction through there is known and taxed buyer and seller. The way markets really work. Buyers the day before the Great Depression and Great Recession more recently for many of us occurred were promoting buying the very day and hours before the markets collapsed. The same will be true of Bitcoin and has already occurred several times since it's inception. It's a commodity traded on an open market. Caveat emptor.
 
#189
#189
If you think trading bitcoin is scary now, just wait. Goldman Sachs is launching a bitcoin trading desk.

Goldman Sachs Group Inc. is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. The bank aims to get the business running by the end of June, if not earlier, two of the people said. Another said it’s still trying to work out security issues as well as how it would hold, or custody, the assets.

The move positions Goldman Sachs to become the first large Wall Street firm to make markets in cryptocurrencies, whose wild price swings and surging values have captured the public’s imagination but given pause to established institutions. Already, the bank is among just a few mainstream firms clearing a new breed of bitcoin futures offered by Cboe Global Markets Inc. and CME Group Inc. Citigroup Inc. and Bank of America Corp., for example, have been taking a wait-and-see approach.

Goldman Sachs Launching Trading Desk for Bitcoin - Breitbart
 
#190
#190
Franklin Pierce said:
If you think trading bitcoin is scary now, just wait. Goldman Sachs is launching a bitcoin trading desk.

Goldman Sachs Group Inc. is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. The bank aims to get the business running by the end of June, if not earlier, two of the people said. Another said it’s still trying to work out security issues as well as how it would hold, or custody, the assets.

The move positions Goldman Sachs to become the first large Wall Street firm to make markets in cryptocurrencies, whose wild price swings and surging values have captured the public’s imagination but given pause to established institutions. Already, the bank is among just a few mainstream firms clearing a new breed of bitcoin futures offered by Cboe Global Markets Inc. and CME Group Inc. Citigroup Inc. and Bank of America Corp., for example, have been taking a wait-and-see approach.

Goldman Sachs Launching Trading Desk for Bitcoin - Breitbart
Click to expand...
How long before Jamie Dimon changes his tune about Bitcoin?
 
#194
#194
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change everything. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain — besides currency speculation and illegal transactions.

Each purported use case  —  from payments to legal documents, from escrow to voting systems — amounts to a set of contortions to add a distributed, encrypted, anonymous ledger where none was needed. What if there isn't actually any use for a distributed ledger at all? What if, 10 years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?

The original intended use of the blockchain was to power currencies like bitcoin  —  a way to store and exchange value much like any other currency. Visa and MasterCard were dinosaurs, everyone proclaimed, because there was now a costless, instant way to exchange value without the middleman taking a cut. A revolution in banking was just the start — governments, unable to issue currency by fiat anymore, would take a back seat as individual citizens transacted freely outside any national system.

https://www.cnbc.com/2017/12/26/ten-years-in-nobody-has-come-up-with-a-use-for-blockchain.html
 
#195
#195
Franklin Pierce said:
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change everything. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain — besides currency speculation and illegal transactions.

Each purported use case  —  from payments to legal documents, from escrow to voting systems — amounts to a set of contortions to add a distributed, encrypted, anonymous ledger where none was needed. What if there isn't actually any use for a distributed ledger at all? What if, 10 years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?

The original intended use of the blockchain was to power currencies like bitcoin  —  a way to store and exchange value much like any other currency. Visa and MasterCard were dinosaurs, everyone proclaimed, because there was now a costless, instant way to exchange value without the middleman taking a cut. A revolution in banking was just the start — governments, unable to issue currency by fiat anymore, would take a back seat as individual citizens transacted freely outside any national system.

Ten years in, nobody has come up with a use for blockchain
Click to expand...



Possession of a currency or thing of value can be seen as both good and bad. It is good in that it creates certainty. If I can see it and hold it in my hand, then I can accept it from you to buy something from me, then re-use it to purchase from someone else.

But that means it can also be stolen. And counterfeited.

I believe that the theory of the blockchain is that since it is decentralized and records all transactions, then you know where it is, where it has come from, and it should have more protection against manipulation and fraud.

But we've seen in the last few weeks an exchange go down because it's bitcoin was electronically stolen (twice). And the story just a few posts above about a guy mining, then losing, what is now over $100 million worth of it.

Every time some business announces it will accept it, the bitcoin believers tout it as conclusive proof that it is gaining acceptance. But its still so far from being reliable.

I remain a skeptic, but am open minded about the theory of it.
 
#197
#197
Franklin Pierce said:
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change everything. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain — besides currency speculation and illegal transactions.

Each purported use case  —  from payments to legal documents, from escrow to voting systems — amounts to a set of contortions to add a distributed, encrypted, anonymous ledger where none was needed. What if there isn't actually any use for a distributed ledger at all? What if, 10 years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?

The original intended use of the blockchain was to power currencies like bitcoin  —  a way to store and exchange value much like any other currency. Visa and MasterCard were dinosaurs, everyone proclaimed, because there was now a costless, instant way to exchange value without the middleman taking a cut. A revolution in banking was just the start — governments, unable to issue currency by fiat anymore, would take a back seat as individual citizens transacted freely outside any national system.

https://www.cnbc.com/2017/12/26/ten-years-in-nobody-has-come-up-with-a-use-for-blockchain.html
Click to expand...

Blah-blah-blah. MSM loves to hate on crypto because it's a huge threat to the power brokers who own the media and control the world.

Anyone who makes a concerted effort to truly understand what these startups are doing with blockchain and the vast potential this technology has knows this is a game changer. (Tip) You won't find worthwhile insights on cable news; they've been singlemindedly attacking it since its inception.

Why Everyone Missed the Most Mind-Blowing Feature of Cryptocurrency

Bitcoin has "died" 219 times. RIP. :birgits_giggle:
BitcoinObituaries.com | Bitcoin Declared Dead 140+ Times and Counting
 
  • Like
Reactions: 1 person
#198
#198
Remy said:
I submit we all really do understand what Bitcoin is all about IMO. It really makes not a lot of difference if we call or label something a dollar, a ruble, a steaming pile of crap, or a bitcoin if we take one or more of these and ask to exchange goods or services with someone for any one of them and to the extent they do or do not, that's what is actually worth. Regarding Bitcoin specifically, can I take one deposit it to my bank and buy groceries at Publix with it? The answer then for me is Bitcoin is more like the worth of s steaming pile of crap than it is a US dollar. Can I take my dollars and exchange them on some sites for equivalent bitcoins and reverse it? Yes, that value fluctuates minute by minute, as recently as yesterday, 12/22 for example Bitcoins were worth 25% less value than they were on 12/21. Are people today able to make money speculating with Bitcoin? The answer is yes, but they also can lose money speculating with Bitcoin. Have some people avoided paying taxes on Bitcoin speculation? The answer is yes. Are drug dealers, terrorists, and other criminal elements moving wealth around using Bitcoin? For sure. Have extremely wealthy Asians been found in the past to have the ability to manipulate the Bitcoin market? The answer is yes b ut Bitcoin afficionados say they've cleaned it up. Bitcoin is becoming more regulated every day, Goldman Sachs this week announced they are opening a desk for crypto currencies. The Chicago exchange now trades Bitcoin so every transaction through there is known and taxed buyer and seller. The way markets really work. Buyers the day before the Great Depression and Great Recession more recently for many of us occurred were promoting buying the very day and hours before the markets collapsed. The same will be true of Bitcoin and has already occurred several times since it's inception. It's a commodity traded on an open market. Caveat emptor.
Click to expand...

Yes you can. You are your own bank; crypto removes banks (the middleman) and gives people sole control over there own money. You deposit your BTC in a secure wallet that only you can access.

Yes you can buy groceries and spend BTC just like fiat - I do everyday.

BitPay Card – Visa(R) Prepaid Debit
 
  • Like
Reactions: 1 person
#199
#199
Bitcoin has "crashed" 30% SIX TIMES in 2017. Each "crash" has been followed by an increase of: 76%, 237%, 183%, 165%, 152%. Bitcoin takes 7 steps forward, 2 steps back, 7 steps forward, 2 steps back. Every 2 steps back is heralded as the end of bitcoin.
 
#200
#200
SWIL said:
Yes you can. You are your own bank; crypto removes banks (the middleman) and gives people sole control over there own money. You deposit your BTC in a secure wallet that only you can access.

Yes you can buy groceries and spend BTC just like fiat - I do everyday.

BitPay Card – Visa(R) Prepaid Debit
Click to expand...

So you take your bit coins and convert them to dollars to use them. Sounds really great.
 
New posts
You must log in or register to reply here.

VN Store



Back
Top