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What is yalls opinion on cryptocurrency and TrumpCoin?
Posted on 4/17/16 at 1:11 pm
Posted on 4/17/16 at 1:11 pm
For those who don't know, cryptocurrency is just an online currency who's value is directly dependent on the demand, and you can use these currencies to buy things online. Well TrumpCoin is still fairly new and not very well known, yet. I'm considering buying some because it's just dumb enough to work, and then sell once it becomes more well known and worth more. Does anyone have any experiences with Bitcoin and cryptocurrencies? TIA
LINK to TrumpCoin value[/link
LINK to TrumpCoin value[/link
3
Posted on 4/17/16 at 1:52 pm to RagingCajun3195
Hold on, let me call Wiki.....
Posted on 4/17/16 at 2:08 pm to 13SaintTiger
I know its fun to give him shite. But Bitcoin is becoming more legitimate every year.
Posted on 4/17/16 at 2:20 pm to I Love Bama
Legitimacy as a currency vs. sound investment.
IMO, a crypto currency investment is about the same thing as playing with FOREX. And more often than not, that leads to
IMO, a crypto currency investment is about the same thing as playing with FOREX. And more often than not, that leads to
Posted on 4/17/16 at 3:55 pm to I Love Bama
I thought Bitcoin was dying
Posted on 4/17/16 at 4:04 pm to RagingCajun3195
quote:
cryptocurrency is just an online currency
It is an online commodity that has artificial value. If it is a currency, it would be illegal by US law and then wouldn't even have artificial value.
It isn't getting any more "legitimate." If it ever seriously posed a threat of going mainstream and common, the government would shut it down.
Bitcoin in particular has no ability for the government to employ monetary policy and has a limited supply. Eventually there will be deflation and ergo a completely horrible currency.
Posted on 4/17/16 at 5:37 pm to I Love Bama
quote:
But Bitcoin is becoming more legitimate every year.
wut.
Posted on 4/17/16 at 6:52 pm to HailToTheChiz
quote:
Wut
What do you mean "Wut?" Bro, I was at the gas station the other day and this hipster in front of me pulled out his e-wallet and bought a pack of gum and a tank of gas. I asked what he was doing and said Bitcoin was the new thing cause it was "protected by the laws of the universe!" :mindblown:
In all seriousness, I do kind of miss Wiki and the debates in here...
Posted on 4/17/16 at 7:39 pm to OnTheBrink
I own a very small amount of bitcoin (~300 usd) just for the sake of curiosity. I doubt it will ever become mainstream, but the price has moved much higher the past 12 months. I do think its a fascinating concept.
Posted on 4/17/16 at 10:25 pm to RagingCajun3195
I just don't understand it. What is it backed by?
I mean, we all talk about how the USD isn't really backed by hard assets anymore ever since we got off the gold standard. But at least, to some extent, the USD is backed by the faith and credit of the US government.
What, exactly, is backing the value of Bitcoin, etc?
To me, it's more like a trade exchange, a barter type transaction. But even in a trade exchange concept, you have a third party that you can see, touch, and visit with to ensure that everyone's accounts are being handled properly. What's the safeguard with these things?
I'm not saying I'm for or against it, but I don't invest in things I don't understand.
I mean, we all talk about how the USD isn't really backed by hard assets anymore ever since we got off the gold standard. But at least, to some extent, the USD is backed by the faith and credit of the US government.
What, exactly, is backing the value of Bitcoin, etc?
To me, it's more like a trade exchange, a barter type transaction. But even in a trade exchange concept, you have a third party that you can see, touch, and visit with to ensure that everyone's accounts are being handled properly. What's the safeguard with these things?
I'm not saying I'm for or against it, but I don't invest in things I don't understand.
Posted on 4/17/16 at 11:31 pm to OnTheBrink
quote:Somebody actually remembers my pack of gum challenge. Bitcoins will never become a true currency until people use it for routine transactions. This is impossible due to limitations on transaction confirmation speeds preventing the convenience necessary for routine usage.
Bro, I was at the gas station the other day and this hipster in front of me pulled out his e-wallet and bought a pack of gum and a tank of gas.
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