Bitcoin

#201
#201
VolStrom said:
So you take your bit coins and convert them to dollars to use them. Sounds really great.
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yup there are a few companies that are using existing point-of-sale channels of the traditional financial system to allow cryptos to function like fiat.

The US is way behind the rest of the world currently in options(and in crypto in a general sense). hopefully that changes soon
 
#203
#203
Just my opinion and I expect most might disagree at this point, but I think we've got two options:

1) start buying cheap crypto-currencies now and be well off to stinking rich 10-15 years later

2) be forced to buy fractions of expensive cryptos 10-15 years later to feed your family when no one will accept your USD after the collapse.

Government-issued currencies are going the way of Blockbuster and the "king" USD is dying. The writing is on the wall.
 
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#204
#204
SWIL said:
Just my opinion and I expect most might disagree at this point, but I think we've got two options:

1) start buying cheap crypto-currencies now and be well off to stinking rich 10-15 years later

2) be forced to buy fractions of expensive cryptos 10-15 years later to feed your family when no one will accept your USD after the collapse.
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I'll take my chances with the status quo for now.
 
#205
#205
SWIL said:
Just my opinion and I expect most might disagree at this point, but I think we've got two options:

1) start buying cheap crypto-currencies now and be well off to stinking rich 10-15 years later

2) be forced to buy fractions of expensive cryptos 10-15 years later to feed your family when no one will accept your USD after the collapse.
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:lolabove:

If/when the US Dollar collapses your crypto currencies will be worthless. Face reality, if the US dollar collapses the entire world has gone to ****.
 
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#206
#206
hog88 said:
:lolabove:

If/when the US Dollar collapses your crypto currencies will be worthless. Face reality, if the US dollar collapses the entire world has gone to ****.
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I respectfully disagree. Cryptos will fill the void left behind from a collapsed dollar and hopefully save the world from chaos and anarchy.

Why do you think most gov'ts have been so passive in the face of an existential threat as large as bitcoin?
 
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#207
#207
SWIL said:
I respectfully disagree. Cryptos will fill the void left behind from a collapsed dollar and hopefully save the world from chaos and anarchy.

Why do you think most gov'ts have been so passive in the face of an existential threat as large as bitcoin?
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I've got full confidence that should the US dollar collapse we will already be in chaos and anarchy.
 
#208
#208
The USD is fubar. The banks know it. The government knows it. Both are responsible for it. They have a hard choice - maintain their power and control a let the U.S. slowly become Venezuela 2.0 or allow digital currencies to replace the USD and become the defacto world currency.
 
#209
#209
I wish that it would find an equilibrium so that I can get on with my plan to sell everything, convert it to Bitcoin, and move to a town near a nude beach.
 
#210
#210
Thunder Good-Oil said:
I wish that it would find an equilibrium so that I can get on with my plan to sell everything, convert it to Bitcoin, and move to a town near a nude beach.
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you might get one more dip before we head to 50k. It's happening in 2018.

I wonder if people will still be calling it a bubble/fraud by then.

DQmYq1g6UgbF3fyhm79wXcLYUegfTYyJ1ZBPGQVUgig5sCq
 
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#211
#211
This all reminds me of the mid-90's when the internet sprouted and became mainstream. Most had no clue what an "internet" was or how it was about to change society forever. There were plenty of knuckleheads prognosticating its failure too...
 

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#212
#212
hog88 said:
:lolabove:

If/when the US Dollar collapses your crypto currencies will be worthless. Face reality, if the US dollar collapses the entire world has gone to ****.
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This made me think of The Office. Dwight keeps both spare keys because if he’s dead, the rest of you have been dead for weeks.

If the dollar goes kaput, the only currency people will respect is the copper plated lead variety.
 
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#213
#213
DancingOutlaw said:
This made me think of The Office. Dwight keeps both spare keys because if he’s dead, the rest of you have been dead for weeks.

If the dollar goes kaput, the only currency people will respect is the copper plated lead variety.
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Don't forget bottle caps. They could be a form of currency when the dollar dies as well. Best save up ;)
 
#214
#214
SWIL said:
you might get one more dip before we head to 50k. It's happening in 2018.

I wonder if people will still be calling it a bubble/fraud by then.

DQmYq1g6UgbF3fyhm79wXcLYUegfTYyJ1ZBPGQVUgig5sCq
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In the case of equities, prices are driven up in advance of anticipated good results by the underlying companies. What is it that should drive crypto-currencies up even further in the months and years ahead? Supply and demand? With hundreds of variations of Bitcoins flooding the economic landscape, what is it that favors one over another -or- is that actually happening? Are Bitcoins superior, for example, over other cryptos and they can't be displaced? If a certain fraction of a Bitcoin today is worth a certain amount of a good or a service, why is it worth greatly more in the near future? Is it that currently, in the US for example and for simplicity, Bitcoins are only used to transact a tiny portion of total economic activity and it's penetration is expected to become enormous?

I'm having a hard time understanding how value is being created in such large multiples for something that is supposed to represent a value on goods or services that have historical markets that have established a certain, fairly stable value. Even something as volatile as oil only has a trading range of 2x, 3x, or 4x over a multi-year period.

The other thing that I totally don't understand is how, and from where, these things came from... what were they created from (mining?), how it's been determined where they're distributed, and such. How and who determined that there are 21 million or whatever Bitcoins there are in existence? At least with the government sponsored money I kind of get that the governments seem to be supporting the value and they are relatively stable when the government is stable. I guess there's being a lot written on all of this if I look around.

If the crypto values are exploding because of some anticipated massive transformation in the way business is transacted, shouldn't the infrastructure behind it all be collapsing in massive proportions as well? Banks and other related financial institutions, governments, currencies, commodities?

Is it possible that crypto values have been sky rocketing because the anti-government sentiment of Millenials is driving it?

Crypto is totally dependant on the internet, correct? If crypto begins to displace government sponsored currencies in material amounts, can the governments take control of the internet and shut it down or somehow police it?

I'm certainly not a crypto-currency scholar, but isn't it just kind of an organized method of placing a recorded value on barter?

I guess if real estate transactions and paychecks start migrating to crypto-currency in significant numbers then it has a lot of growth ahead. And more governments will likely become unstable and institutions will crumble. If all that happens I don't know if cryptos can be a storer of wealth. Things like weapons, ammo, fresh water, food, fuel, and meds will become the really valuable currencies.
 
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#222
#222
Danl said:
WTF? Flock'em.
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One overly sensitive idiot suggested that I'm a racist for having an RVZ avatar. Ronnie turned out very well... he was born a redneck and raised in an integrated South. Ronnie was not a racist... young snowflakes don't understand, bless their hearts. :rock:
 
#223
#223
This isn't as revolutionary as people would have you believe.

It is still a currency. There is still a mechanism of control. Why abandon one form of control for another?

When you want to burn that to the ground, then we can talk.
 
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