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re: Predict the 12/31/2014 bitcoin price (plus 2013 year in review)
Posted on 1/3/14 at 3:47 pm to bamafan425
Posted on 1/3/14 at 3:47 pm to bamafan425
quote:
I mostly lurk the MB, but this is what confuses me about BitCoin. Doesn't seem very stable, why would you want to use that as a "currency"?
It doesn't have to be stable right now. It's in the hypermonetization stage right now. It won't be stable until it finds its true value, whatever that is.
Bitcoin is also a lot more than just a currency. This is the fatal mistake that most people make when assessing it. Bitcoin is a robust transaction network in which the first application on it is a currency. It can and will eventually be used for other purposes, such as notary, title, escrow and stock exchanges. Most people discount bitcoin without ever truly understanding it. Trust me, this board is a perfect example of it.
This post was edited on 1/3/14 at 3:48 pm
3
Posted on 1/3/14 at 4:03 pm to WikiTiger
quote:
Most people discount bitcoin without ever truly understanding it. Trust me, this board is a perfect example of it.
Man, I try to understand it, I really do, but what I don't get is if I own a business, and I am selling a product for $800, or the price of 1 bitcoin, why would I accept a bitcoin as a method of payment with the chance I will not get the true price of the product I sold if bitcoin tanks again? Are these businesses who accept them not taking on major unnecessary risks?
Posted on 1/3/14 at 5:05 pm to WikiTiger
quote:
It can and will eventually be used for other purposes, such as notary, title, escrow and stock exchanges.
Posted on 1/3/14 at 5:45 pm to WikiTiger
quote:
It can and will eventually be used for other purposes, such as notary, title, escrow and stock exchanges.
How?
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