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If hackers will piss off higher intelligence with their illicit activity they can open 150 short positions of 1 billion or 15.000 positions of 10 million and drive the price to 0 in theory, if i understand it correctly and then another coin will replace bitcoin, maybe monero, maybe something similar.
I assume they not gonna do that because it's too expensive and not gonna solve the problem, they might short all the coins until they come up with a better way to track us all. Eventually there will be cameras and microphones everywhere so getting away with violating the law will become near impossible and that's when the price of all those currencies drop to near zero. That's just my opinion.
I invested 1% of what i have few years ago because u never know what's going to happen. Trade responsibly and never invest everything you have unless your ready to lose it.

H4ck	05-15-2019 03:01 PM

Re: Crypto Blowing Up

Quote:

Originally Posted by phaz0rz (Post 1002721)

It's converted to a real currency at the time of purchase. It's not being used as a currency when the merchant still ends up with fiat currency.

I think you missed the point, the point is, people can now easily use their bitcoin to buy stuff like any other person with money.......anywhere that accepts visa....that is already a pretty big achievement.....

back then the argument was I can't use bitcoin to buy anything from anywhere.......

now its more like.......anywhere that accepts visa..........as long as you have your bitpay visa card........

phaz0rz

05-15-2019 03:06 PM

Re: Crypto Blowing Up

Quote:

Originally Posted by H4ck (Post 1002774)

My point was that's just Bitpay's way of profiting from a trendy gimmick. What they're doing is no different than a Paypal debit card. You have a balance on a website which the card allows you to spend. It's really nothing revolutionary.

Bitpay is holding real fiat currency somewhere in a central account just like Paypal is doing otherwise their Bitpay cards wouldn't work.

Until it's bitcoin from end to end and it's not necessary at any point to "convert to fiat", it's not a currency.

By your definition you could call weed a currency, or any other asset that can be traded for USD.

james_112233

05-15-2019 04:50 PM

Re: Crypto Blowing Up

I noticed my corner shop now has a bitcoin cash point ? it's a typical grocery shop / newsagent

JamesNorth101

05-15-2019 05:02 PM

Re: Crypto Blowing Up

Quote:

Originally Posted by james_112233 (Post 1002803)

I noticed my corner shop now has a bitcoin cash point ? it's a typical grocery shop / newsagent

They have been slowly increasing in locations up and down the UK

Jmannp

05-15-2019 09:46 PM

Re: Crypto Blowing Up

alot of institutional money is coming in right now too.. isn't fidelity getting into the crypto business

H4ck	05-15-2019 10:11 PM

Re: Crypto Blowing Up

https://www.forbes.com/sites/jeffkau.../#225f480d5e31

china fears on trade wars?

H4ck	05-15-2019 10:22 PM

Re: Crypto Blowing Up

good heavens cryptos are really taking off......just 14 days ago it was probably at 200b market cap....now 260.....

dan_ebay

05-16-2019 06:12 AM

Re: Crypto Blowing Up

Quote:

Originally Posted by H4ck (Post 1002719)

bitpay has a debit card for bitcoin.........contracted with visa......

all you do is load your bitcoins from your bitpay wallet and use your bitpay visa card........anywhere visa is accepted your good to go.......

so people are using it as a currency already......

Charge fees don't they? My credit card has 0% fees anywhere in the world, free travel insurance, 0.5% cashback on purchases in the UK, 0% interest for IIRC 52 days, how exactly is bitpay competing with my credit card?

JamesNorth101

05-16-2019 06:45 AM

Re: Crypto Blowing Up

They charge 0% but some banks have pretty poor FX rates

Some are good, some dreadful.

BTC would not have the same hidden charges. At least that will be the theory for some people

phaz0rz

05-16-2019 06:55 AM

Re: Crypto Blowing Up

I've never sent bitcoin without an arbitrary variable rate mining fee depending on network power at the time. BTC transactions can fail if too low of a mining fee is paid.

So there's a hidden fee where you aren't even fully aware of how much you should be paying, when you're doing btc. :)

You can't forget to pay the miner. They work really hard extracting bitcoins from mountains (of digits) and expect to be paid a random amount depending on how the smelting went that day. :nerd:

Sunspot144

05-16-2019 07:30 AM

Re: Crypto Blowing Up

Talk in US Congress yesterday to ban BTC because it threatens USD's influence on international trade. Went on to say pulling it would be next to impossible.

phaz0rz

05-16-2019 07:36 AM

Re: Crypto Blowing Up

Quote:

Originally Posted by Sunspot144 (Post 1002925)

Talk in US Congress yesterday to ban BTC because it threatens USD's influence on international trade. Went on to say pulling it would be next to impossible.

It'll be a lot more feasible once FedCoin goes live and there's a government promoted alternative. :pout:

H4ck	05-16-2019 11:05 PM

Re: Crypto Blowing Up

Deep dump.................classic pump and dump.....

Play	05-16-2019 11:11 PM

Re: Crypto Blowing Up

Quote:

Originally Posted by H4ck (Post 1003143)

Deep dump.................classic pump and dump.....

It dropped just under 10%. That's absolutely nothing when it comes to crypto.

It's a dump when you see 40 to 50% drop within the space of a day or two. I've seen that happen a few times.

rsot	05-16-2019 11:19 PM

Re: Crypto Blowing Up

Quote:

Originally Posted by Play (Post 1003147)

It dropped just under 10%. That's absolutely nothing when it comes to crypto.

It's a dump when you see 40 to 50% drop within the space of a day or two. I've seen that happen a few times.

Might see more tmrw - let's wait and see?

slokor

05-16-2019 11:33 PM

Re: Crypto Blowing Up

Deep dump?
Its at $7400 this moment.
What was it a couple of weeks ago again...?
Deep dump indeed lol