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Is Bitcoin the Future of Money?
 

Good interesting debate, check it out:

Petter Schiff vs The creator of Shapeshift

Re: Is Bitcoin the Future of Money?
 

Was a pretty good and entertaining debate.

no doubt schiff knows economics but he still doesn't entirely understand the value of bitcoin

or maybe he does, but considering he's in the business of selling gold, I can see him never really accepting/supporting BTC

Re: Is Bitcoin the Future of Money?
 

If your really want to know the answer to this question you should send a pm to empirestate. :thumb:

Oh, and cool debate, thank you for the link.

Re: Is Bitcoin the Future of Money?
 

empirestate is locked up for a bit - unfortunately.

Re: Is Bitcoin the Future of Money?
 

get so confused on how to use bitcoin

Re: Is Bitcoin the Future of Money?
 

EmpireStateCoin™ when?!

Re: Is Bitcoin the Future of Money?
 

When he is released maybe....?

Re: Is Bitcoin the Future of Money?
 

Heres hoping that never happens.
With his absurd crypto of the week predictions/recommendations and his own admission of not investing in any crypto whatsoever I have no idea why some people here ever took him seriously - unless the comments above are sarcastic in nature and I just missed it (which is entirely possible).

Re: Is Bitcoin the Future of Money?
 

But his guides though.... :FF:

Re: Is Bitcoin the Future of Money?
 

Re: Is Bitcoin the Future of Money?

Easy answer: no.

Re: Is Bitcoin the Future of Money?
 

Not likely. Nearly 10 years old and hardly anyone uses it for purchases. The only people accepting it for purchases are exchanging it straight to fiat asap.
Was/Is a nice idea but so far all this 'decentralization' talk seems to of shown that it doesn't work well and exactly why we need regulations etc.

Re: Is Bitcoin the Future of Money?
 

So easy to dismiss it...
Yes its nearly 10 years old. a WHOLE 10 years. And only in the last 3-4 has it gained any relevance. if you told somebody 50 years ago that a piece of plastic would be the main form of transacting they would have laughed at you.
I myself accept Bitcoin as my main payment form these days so in my case it is DEFINITELY the future - and more so the present.
So for me the answer is - Yes (with the proper development - which is currently underway).

Re: Is Bitcoin the Future of Money?
 

It's a currency pyramid scheme. When it collapses what are the schemers going to do, print bitcoins? They are backed by what, Gold, future generations of sacrifice?

Re: Is Bitcoin the Future of Money?
 

And what is the US dollar backed by? It is printed on paper and backed by absolutely nothing except the word of the government. It used to be backed by gold - and these days not even that. When they increased their deficit last year how do you think they paid for that? printed more paper.
And how is bitcoin created? what is the price of a bitcoin? you can google it. Costs several thousand dollars to create a single bitcoin - a currency which is backed by the people (as opposed to the government). Costs less than a penny to create a $100 bill.
With all due respect - ill stick to bitcoin.

Re: Is Bitcoin the Future of Money?
 

Classic case of 'if people use it, then it has value.' The geniuses behind all this basically took the same business model as uber but with processing power. Utilize a system necessary to daily life that involves very little investment - those who participate are the investors. Everyone and their grandma has a computer these days, so to me the risk involved is the same as measuring your wealth in paper dollars. Even gold only has value due to its rarity - beyond that what purpose does it serve to your survival. I'd think seeds and ammunition would have way more potential as an item of trade should the world go belly up. Bitcoin is here to stay until we stop or cant produce any more electricity.

Re: Is Bitcoin the Future of Money?
 

Bitcoin is backed by what? Electronic gamblers? The dollar is backed by you and me and your kids paying high interest rates or high prices on goods until the currency gets back it's value or paying off it's debt to lenders (Chinese owned U.S. treasury notes)
Bitcoin is a phake currency. I'm telling you this so you can buy coins or raw diamonds to cover your butt! Get out, get smart! Bitcoin will stay around until the next financial melt down then you will be holding the bag of junk bitcoins!

Re: Is Bitcoin the Future of Money?
 

Phake currency? lol. Sorry but that is such a foolish sentiment to say about this phenomena. Other smarter people have said hat as well - and plenty of others opposed them. You and I are just reiterating that same argument and Im fairly certain will will both stick to our guns.
With all due respect - Bitcoin is backed by the population of the world - not just the US. Ill put my trust in a currency that cannot be manipulated by central banks or governments and affords access to every single individual on the planet - as opposed to the current banking system that excludes so many.
You can stick to fiat USD and Ill stick to my bitcoins. We can have another conversation about it in 5 years time and see who was right and who has regrets.

Re: Is Bitcoin the Future of Money?
 

Brb with some tin foil hats.

Re: Is Bitcoin the Future of Money?
 

You don't hold the payments all in bitcoin though do you? Find it hard to believe bitcoin is your main payment method to be honest. I accept Bitcoin/ETH aswell and it's less than 0.1% of my sales.

I'd much rather hold a currency backed by the biggest economies in the world than a currency 'backed by the people' lol what does that even mean?

I always see people claim it's worth a lot because it costs $x,000 to mine but that's not really even relevant, it costs $1000s to mine because the price is $1000s.
It's not worth $1000s because it costs $1000s to mine. If the price crashes then less people will mine it.

Shouldn't really even call Bitcoin a currency, as it's clearly not.

Re: Is Bitcoin the Future of Money?
 

Youll be surprised at the percentage of payments I receive in Bitcoin. It accounts for at least half at this point.
Bitcoin has been very good to me and as absurd as it might sound to certain individuals here Im a big believe in it. Ive done plenty of research on the topic and continue to read up on the latest developments every day and have no reason to change my views on the matter. Perhaps instead of simply dismissing something you have no knowledge of and no understanding of you should do some research on it.
And for all those who call it a 'bubble' - it is still more than double what it was a year ago and doesn't look to be going away anytime soon.
Laugh all you want but remember this little thread in 5 years from now. One of us will have been right and the other wrong. We shall see which is which.

Re: Is Bitcoin the Future of Money?
 

I've done plenty of research, I've been making money from writing articles about crypto for the last year, that's why I've not been active on here.
Got bored of shilling coins/companies with no revenue that are valued at 10s/100s of millions of dollars though.
Waiting 5 years won't really show us who was right or wrong. I could gamble my life savings on roulette, if I win that means I was lucky, not that it was a good decision.
Not in terms of the price being higher anyway, if it's used as a world currency in 5 years then I'll admit to being wrong.

Re: Is Bitcoin the Future of Money?
 

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.