Bitcoin currency of the future?

[Luminaire]

Here. This will help.

http://lmgtfy.com/?q=fiat+currency

Yea, you didn't get it.

Gold is a store of value, Bitcoin is a store of value.

 

[Prefect]

Yea, you didn't get it.

Gold is a store of value, Bitcoin is a store of value.

There is nothing intrinsically valuable about a bitcoin if you are going that route. They are only valued because they are limited and secure. Gold has actual value as a physically useful commodity.

 

[CerebralKnievel]

Yea, you didn't get it.

Gold is a store of value, Bitcoin is a store of value.

Gold is interesting in that it has obviously spiked and dropped, but overall maintained a near identical chart to USD inflation. I don't study the subject much, but that seems to have been the trend. While it is worth $1300/ounce today, that is basically the same value it held in 1918, adjusted for inflation.

 

[Zer]

Just got dat hardware wallet. Might make my move on some XRP, NEO and IOTA

 

[CerebralKnievel]

There is nothing intrinsically valuable about a bitcoin if you are going that route. They are only valued because they are limited and secure. Gold has actual value as a physically useful commodity.

Useful only because of perception. It is no more useful for jewelry than brass. It is merely its speculative value that enhances the desire for it. If you are referring to its application in electrical energy, that is an aspect of it but not a driving factor of its value, truthfully.

 

[WorldofWarcraft]

Now's a good time to buy BTC, guys. You can quote me on that and you can bet on it.

 

[CerebralKnievel]

Just got dat hardware wallet. Might make my move on some XRP, NEO and IOTA

What did you get? I find these ten page tutorials nauseating. Write down this. Now write down that. Now write down this other thing.

 

[PaleMoonlight]

How many of you cats have cashed out before? I read it's a pain in the ass to get funds in $. Is it true?

 

[CerebralKnievel]

How many of you cats have cashed out before? I read it's a pain in the ass to get funds in $. Is it true?

Not true. Send your shit to coinbase and cash out. Takes a few days to transfer.

 

[Zer]

What did you get? I find these ten page tutorials nauseating. Write down this. Now write down that. Now write down this other thing.

Ledger Nano S. Seems like it holds the largest variety of different coins, and the ones I specifically wanted

 

[Luminaire]

Just got dat hardware wallet. Might make my move on some XRP, NEO and IOTA

lol... if you buy XRP... just give me your money instead.

 

[Zer]

lol... if you buy XRP... just give me your money instead.

You don't like XRP bro?

 

[Jopious Extronimous]

Now's a good time to buy BTC, guys. You can quote me on that and you can bet on it.

LOL don't be a dick.

I'd suggest anyone investing in ANY cryptocurrency right now be prepared for about 5 years of holding it through some shit. Something big is about to happen and the repercussions of it won't be clear for a while.

 

[Thunderchild]

And you're riding on a hype train. Fact of the matter is that blockchain has been around for nearly a decade, and has yet to see mass adoption. Having potential does not mean it will realize that potential. All newer technologies will have a honeymoon phase before reality sets in. You can't predict what you'll have for dinner same time next week let alone currency of the future, and to declare blockchain the future is a pretty bold claim.

Blockchain is subjected to the same human error, tampering and inefficiencies as any centralized system.

https://bitsonblocks.net/2016/07/19/so-you-want-to-use-a-blockchain-for-that/
https://securityintelligence.com/the-blockchain-is-only-as-strong-as-its-weakest-link/
http://www.circleid.com/posts/20160502_are_blockchains_the_most_expensive_database_ever_invented/

1876: "The Americans have need of the telephone, but we do not. We have plenty of messenger boys." — William Preece, British Post Office.

1876: "This 'telephone' has too many shortcomings to be seriously considered as a means of communication." — William Orton, President of Western Union.

1889: “Fooling around with alternating current (AC) is just a waste of time. Nobody will use it, ever.” — Thomas Edison

1903: “The horse is here to stay but the automobile is only a novelty – a fad.” — President of the Michigan Savings Bank advising Henry Ford’s lawyer, Horace Rackham, not to invest in the Ford Motor Company.

1943: “… there is a world market for maybe five computers.” - IBM Chairman Thomas Watson

Those sound like you to me.

 

[CerebralKnievel]

Ledger Nano S. Seems like it holds the largest variety of different coins, and the ones I specifically wanted

I'm getting one. I dont want to see some day that China has seized binance and my coins are gone.

 

[Deleted member 409801]

1876: "The Americans have need of the telephone, but we do not. We have plenty of messenger boys." — William Preece, British Post Office.

1876: "This 'telephone' has too many shortcomings to be seriously considered as a means of communication." — William Orton, President of Western Union.

1889: “Fooling around with alternating current (AC) is just a waste of time. Nobody will use it, ever.” — Thomas Edison

1903: “The horse is here to stay but the automobile is only a novelty – a fad.” — President of the Michigan Savings Bank advising Henry Ford’s lawyer, Horace Rackham, not to invest in the Ford Motor Company.

1943: “… there is a world market for maybe five computers.” - IBM Chairman Thomas Watson

Those sound like you to me.

You are not vested in Blockchain though......or the company that held the first patent on the telephone. You're hitching your wagon to a needle in a stack of needles when more needles can be made by anyone.....at any time. How many crypto currencies are there now ? How many were there 6 months ago?

" I'm investing in the technology "


No.......not really.

 

[HIMBOB]

Yes it does. You will need to pay sales tax for transactions, which means the currency you pay must be legal tender. The scalability of cryptocurrency do not allow them to perform transaction at such a large scale.

I'm talking internationally.

Also I don't agree with the idea that any existing crypto will ever replace fiat. But it is suited to transfers and transactions within a system.

 

[Orgasmo]

1876: "The Americans have need of the telephone, but we do not. We have plenty of messenger boys." — William Preece, British Post Office.

1876: "This 'telephone' has too many shortcomings to be seriously considered as a means of communication." — William Orton, President of Western Union.

1889: “Fooling around with alternating current (AC) is just a waste of time. Nobody will use it, ever.” — Thomas Edison

1903: “The horse is here to stay but the automobile is only a novelty – a fad.” — President of the Michigan Savings Bank advising Henry Ford’s lawyer, Horace Rackham, not to invest in the Ford Motor Company.

1943: “… there is a world market for maybe five computers.” - IBM Chairman Thomas Watson

Those sound like you to me.

Yeah those Tulip bulbs sure held up their value eh? The Yukon Gold Rush made every miner filthy rich no? That Dot Com party didn't end for you?

 

[HIMBOB]

There is nothing intrinsically valuable about a bitcoin if you are going that route. They are only valued because they are limited and secure. Gold has actual value as a physically useful commodity.

Gold has uses but 95% of it does nothing except be shiny and or expensive.

Bitcoin has uses but currently a huge amount of that use is being portable and expensive.

 

[Thunderchild]

Yeah those Tulip bulbs sure held up their value eh? The Yukon Gold Rush made every miner filthy rich no? That Dot Com party didn't end for you?

My point was you can't predict what will take off.

Tulip bulbs were not an innovation or new technology and therefore aren't a good comparison.

The Gold Rush didn't make every miner filthy rich, but neither has any market made every participant filthy rich. That isn't even a realistic expectation.