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re: Bitcoin is sinking like a rock
Posted on 2/1/18 at 8:32 pm to TJGator1215
Posted on 2/1/18 at 8:32 pm to TJGator1215
So fake currency is losing it's value. Interesting.
2
Posted on 2/1/18 at 8:33 pm to TJGator1215
Ummm India is denouncing bitcoin. Of course it is dropping. It will rebound eventually.
Posted on 2/1/18 at 8:34 pm to PowerTool
It will probably go back up. Bitcoin just yo-yos wildly. It's been doing this for years. Probably hurts its actual usefulness as a currency, but I guess at some point it is supposed to get stable? I don't know. I don't really get the long term viability.
This post was edited on 2/1/18 at 8:35 pm
Posted on 2/1/18 at 8:34 pm to TJGator1215
will soon be time to buy
Posted on 2/1/18 at 8:35 pm to kywildcatfanone
quote:
So fake currency is losing it's value. Interesting.
I laugh my arse off when people say this.
What do you think makes the US Dollar any more real? It's not gold backed anymore. It's just what people believe it's worth.
This post was edited on 2/1/18 at 8:36 pm
Posted on 2/1/18 at 8:37 pm to Breesus
quote:
What do you think makes the US Dollar any more real? It's not gold backed anymore. It's just what people believe it's worth.
Holding actual debt in your fingers just feels better.
Posted on 2/1/18 at 8:37 pm to Breesus
I was typing a pretty similar response. It could be green toilet paper tomorrow like Venezuela's currency. Unlikely but possible.
Posted on 2/1/18 at 8:40 pm to Breesus
Gold-backed
Even gold is only worth what everyone says it is
Even gold is only worth what everyone says it is
Posted on 2/1/18 at 8:42 pm to tigerbutt
quote:
Ummm India is denouncing bitcoin. Of course it is dropping. It will rebound eventually.
Was his name...Kevin?
Posted on 2/1/18 at 8:44 pm to TJGator1215
Didn't you get the message? We're all in ETH now.
Posted on 2/1/18 at 9:13 pm to jdeval1
Being backed by the guarantee of the United States government is a pretty significant difference. Despite whatever shite you want to throw at it, our government existing and being stable for the foreseeable future is up there on the list of most reliable things.
Posted on 2/1/18 at 9:17 pm to Peazey
I didn't say that it was likely
Posted on 2/1/18 at 9:25 pm to jdeval1
I'm just trying to point to this false equivalency that is trying to be made between crypto and the US dollar. Your point about just the concept of money only having the value that people put in it is fair, but there's a hell of a lot more justification putting reliable value on the US dollar than pretty much any currency in the world.
Posted on 2/1/18 at 9:26 pm to Breesus
quote:
I laugh my arse off when people say this. What do you think makes the US Dollar any more real?
Well for one thing, currency genius, the US Dollar doesn’t fluctuate like some tech stock back in the 90’s. It’s not currency. It’s an investment fad. It’s down 46% in 24 days. More than 50% in 44 days. I’m sure it will return to those levels, too! Doesn’t make it a currency.
The most annoying thing about bitcoin (besides investors who got lucky and now think they’re smart) is the energy consumption. LINK
This post was edited on 2/1/18 at 9:27 pm
Posted on 2/1/18 at 9:46 pm to GaryMyMan
quote:Proof of Stake is the future.
The most annoying thing about bitcoin (besides investors who got lucky and now think they’re smart) is the energy consumption. LINK
Bitcoin is dinosaur tech in the crypto world. I wish people would let it die and focus on the cryptos with real promise
Posted on 2/1/18 at 9:54 pm to TigerTatorTots
Laws of the universe.
Posted on 2/1/18 at 10:10 pm to JayDeerTay84
Seems funny that it started dropping when Jaime Dimon of JPM said the bitcoin is legit.
He is cornering the market.
Remember when the Hunt brothers did this with silver?
He is cornering the market.
Remember when the Hunt brothers did this with silver?
Posted on 2/1/18 at 11:03 pm to matthew25
The intrinsic value of BTC is such an unknown. Nobody had a clue. It could go to $2 or $20,000.
It’s been entertaining from the sidelines that’s for sure.
It’s been entertaining from the sidelines that’s for sure.
Posted on 2/1/18 at 11:16 pm to Peazey
quote:
Being backed by the guarantee of the United States government is a pretty significant difference. Despite whatever shite you want to throw at it, our government existing and being stable for the foreseeable future is up there on the list of most reliable things.
Also, while I think it’s significance will diminish over time, you can’t discount the fact that oil trades on the USD.
Posted on 2/2/18 at 3:11 am to Breesus
What makes the US Dollar any more real? Every company in the world accepts it as a form of payment. I can buy burgers at McDonalds in Germany and they accept dollars. Bitcoin is ahead of its time. It will take another 20 years before crypto currency can make a mark. BTW, it wont be Bitcoin. It will be something else. Bitcoin is just the foundation for whats to come but we are not there yet.
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