Is Bitcoin the Future of Money?

[bluepug]

Cryptocurrency Pump And Dump Schemes Growing.

https://www.pymnts.com/cryptocurrenc...-dump-schemes/

[slokor]

Originally Posted by Hercules

Other smarter people as you describe thought Madoff was for real for 30 odd years!! Or Y2K was the biggest con ever produced as bitcoin.
I'm only trying to warn you. When the mind finds a belief, it looks for data to make sure it's right (a safety mechanism) over looking the obvious flaws sometimes.

Thanks for the warning.
Nothing to worry about with me though - Ive already realized my profit several hundred times over as far as my Bitcoin investments go and all my holdings at the moment are off pure profit. I can afford to hold this long term and coupled with MY opinions and MY belief in the concept I feel quite comfortable doing so.

[slokor]

Originally Posted by bluepug

Cryptocurrency Pump And Dump Schemes Growing.

https://www.pymnts.com/cryptocurrenc...-dump-schemes/

Please note that I refer to Bitcoin ONLY and differentiate between it and several other top level crypto currencies and all the other junk/scam altcoins which to me are garbage that is infecting the crypto market - the sooner those are gone the better for all involved (except the poor suckers who invested in them).

This is a pretty good read if you believe Bitcoin isn't backed by anything

https://medium.com/@tomerstrolight/b...g-36265192b9a7

[brownboy]

I just think it's way too volatile, once it stabilizes possibly.

[newjerseymax]

I cant say if bitcoin will be the main world currency, but some type of coin will be internet currency. Right now bitcoin is leading cause not one person can shut it down.

The value in bitcoin: Decentralized store of value that no government can confiscate.

[slokor]

Originally Posted by Beautiful

This is a pretty good read if you believe Bitcoin isn't backed by anything

https://medium.com/@tomerstrolight/b...g-36265192b9a7

Very good read that explain in simple terms the benefits and advantages of Bitcoin over the current system. I am especially fond of the access to it by anyone who doesn't have a bank account. Couple that with the fact it is borderless and you have roughly half the world's population who can now have access to a global payment system.
Not too shabby for a currency still in its infancy.

[newjerseymax]

Originally Posted by slokor

Please note that I refer to Bitcoin ONLY and differentiate between it and several other top level crypto currencies and all the other junk/scam altcoins which to me are garbage that is infecting the crypto market - the sooner those are gone the better for all involved (except the poor suckers who invested in them).

The ****coin bubble will bust....

[dan_ebay]

Originally Posted by Beautiful

This is a pretty good read if you believe Bitcoin isn't backed by anything

https://medium.com/@tomerstrolight/b...g-36265192b9a7

Doesn't state any valid reason why it should be worth 1000s. I'll make a coin with a total supply of 10 and all of the attributes of Bitcoin if you're to pay me 1000s for each one? Let me know and I'll have it done by the end of the day lol.

[slokor]

The fact its at the price level it is at points to the level of trust a LOT of people have in it. It didn't start at that price level remember? took several years for it to reach it. And if its at this price level now don't you think there is at least some validity to it? Or would you prefer to completely ignore all indicators to the contrary and call everyone who doesn't share your views on the matter morons? not the smartest way to go about it if you ask me.
As for your example - it doesn't hold water. If I printed a comic book tomorrow no one would buy it and it will have a value of $0. Yet if I had an Action Comics #1 Im a millionaire. The perceived value of anything out there depends on what EVERYBODY thinks its value should be - not just you. It took Bitcoin 10 years to get to where its at and the level of trust and its perceived value grew over the years. You think you can come in with a new coin and repeat the process overnight? good luck with that. That's the main problem in the crypto world today - over 1700 crypto currencies that thought the same way you did and are trying to do just that. To me the vast vast majority of those cryptocurrencies are $hitcoins and will be gone within the year.
Good luck with YOUR ICO though.

[Canadianleaf]

Originally Posted by bluepug

Cryptocurrency Pump And Dump Schemes Growing.

https://www.pymnts.com/cryptocurrenc...-dump-schemes/

[dan_ebay]

Originally Posted by slokor

The fact its at the price level it is at points to the level of trust a LOT of people have in it. It didn't start at that price level remember? took several years for it to reach it. And if its at this price level now don't you think there is at least some validity to it? Or would you prefer to completely ignore all indicators to the contrary and call everyone who doesn't share your views on the matter morons? not the smartest way to go about it if you ask me.
As for your example - it doesn't hold water. If I printed a comic book tomorrow no one would buy it and it will have a value of $0. Yet if I had an Action Comics #1 Im a millionaire. The perceived value of anything out there depends on what EVERYBODY thinks its value should be - not just you. It took Bitcoin 10 years to get to where its at and the level of trust and its perceived value grew over the years. You think you can come in with a new coin and repeat the process overnight? good luck with that. That's the main problem in the crypto world today - over 1700 crypto currencies that thought the same way you did and are trying to do just that. To me the vast vast majority of those cryptocurrencies are $hitcoins and will be gone within the year.
Good luck with YOUR ICO though.

I didn't call anyone a moron.

No not really as barely anyone is using it for what it was designed to be, a currency or payment processor. They're just speculating on the price.

I used to like the idea but so far all this 'decentralized' nonsense has just shown exactly why we need things to be centralized, scammers etc everywhere. It's also far easy to manipulate than any centralized currency is.

Yes I could easily make a coin with the same attributes as Bitcoin obviously as it's open source. Would be a different story to get people to speculate on it as they do with Bitcoin.
The price of crypto doesn't really mean as much as with stocks etc though as they're actually backed by profit making companies. I could make the 10 coins as in my example, buy 0.001 from myself for $10 and my 10 coins are now supposedly worth $100k.

[Hercules]

The fact is there is no fact. Let's say the the economy goes in to a recession with the Dow retracing to 12,000 or so for a few years. You believe that your Bitcoins will remain at or near it's value it is now? How will it come back? If you got a 100 grand in a real bank it will still be a 100 grand. It may or may not buy as much but at least it's there to reinvest or whatever.

[slokor]

Originally Posted by dan_ebay

I could make the 10 coins as in my example, buy 0.001 from myself for $10 and my 10 coins are now supposedly worth $100k.

Wrong.
To YOU they might have that value but good luck convincing the rest of the world of that value. The value of bitcoin is held by consensus of a lot more than one single individual as you in your case. The trade volume you will be showing will clearly indicate what youre trying to do. Have a look at the trading level for Bitcoins.
Not as simple as youre trying to make it sound.

[slokor]

Originally Posted by Hercules

The fact is there is no fact. Let's say the the economy goes in to a recession with the Dow retracing to 12,000 or so for a few years. You believe that your Bitcoins will remain at or near it's value it is now? How will it come back? If you got a 100 grand in a real bank it will still be a 100 grand. It may or may not buy as much but at least it's there to reinvest or whatever.

Actually if that happens I believe the chances of Bitcoin shooting up in value are rather high. Wont surprise me if it is held as a safe haven investment similar to the US dollar in times of uncertainty.

[newjerseymax]

Originally Posted by slokor

Actually if that happens I believe the chances of Bitcoin shooting up in value are rather high. Wont surprise me if it is held as a safe haven investment similar to the US dollar in times of uncertainty.

Pretty much like Gold. Except you keep it yourself, instead of some centralized bank, which government can take at anytime.

[cryptoc]

Hey,
Over the years Bitcoins has been surprised everyone and not sure what it will be future. But as the time is going online, the currency has an upper hand to be equally to Money.

[empirestate]

Bitcoin is store of value. Who knows if it will be here after 30years...

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[slokor]

Hey look whos back spewing pearls of wisdom.
You sure you want to start up again? might want to quit while youre behind. Just a thought for you.

[rsot]

empirestate is back with a vengeance

[TonyWestley]

Bitcoin has no future, you will not ever remember bitcoin name after few years. Mark my word

Originally Posted by TonyWestley

Bitcoin has no future, you will not ever remember bitcoin name after few years. Mark my word