Is crypto currency...

Laputan Machine said:
But gold and Windows have functions, Bitcoin doesn't (if you admit it's not really a currency since the only reason it has value, is because there is the assumption it will increase in value which negates its use as a currency).
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So you don't think a place to store your wealth, and be able to retrieve it in an instant anywhere in the world is a "function" ?

You don't think you being the only one that could access this (if you do it correctly, and not have it on an exchange) no Gov, no one in the world could take it from you. You don't think that is a function?
 
JackBootedThug said:
The powers that be will not allow something like this to succeed unless they profit or control it. Look what quadafi planned to do with Libya. Put their currency on a gold standard and involve other African countries as well. That would have de stabilizing effect on the global economy. Everyone would want lybian denaris…or whatever the fuck they have. Hilary and her ilk weren’t having any of that shit.
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The powers that be can't do anything about it. Just don't keep it on an exchange, and not a single soul can touch it except you.
 
CrazyNutz said:
So you don't think a place to store your wealth, and be able to retrieve it in an instant anywhere in the world is a "function" ?

You don't think you being the only one that could access this (if you do it correctly, and not have it on an exchange) no Gov, no one in the world could take it from you. You don't think that is a function?
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No, those are not functions. That's something you can do with the crypto, but if the value of crypto is based on it being a speculation, and nothing else, then it has zero function and is a ponzi scheme.

Why would I buy a sandwich with 15 dollars worth of Bitcoin if in 2 days, that Bitcoin is worth 16 dollars?
 
CrazyNutz said:
So you don't think a place to store your wealth, and be able to retrieve it in an instant anywhere in the world is a "function" ?

You don't think you being the only one that could access this (if you do it correctly, and not have it on an exchange) no Gov, no one in the world could take it from you. You don't think that is a function?
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Sure, it has a function. And like any currency, has value because people believe it does. But whether people continue to believe it has value is another question. Silver for example is a tangible commodity with a proven history as a store of value, as well being used in jewelry and some industrial purposes. Therefore it will probably not ever be subject to complete devaluation and disuse, unlike bitcoin.
 
Laputan Machine said:
No, those are not functions. That's something you can do with the crypto, but if the value of crypto is based on it being a speculation, and nothing else, then it has zero function and is a ponzi scheme.

Why would I buy a sandwich with 15 dollars worth of Bitcoin if in 2 days, that Bitcoin is worth 16 dollars?
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I don' think you're getting it, DONT BUY A SANDWITCH with BTC, just like you would not buy a sandwich with gold. LOL
 
acceptance said:
Sure, it has a function. And like any currency, has value because people believe it does. But whether people continue to believe it has value is another question. Silver for example is a tangible commodity with a proven history as a store of value, as well being used in jewelry and some industrial purposes. Therefore it will probably not ever be subject to complete devaluation and disuse, unlike bitcoin.
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Silver (and gold) is an object that can be removed from your possession. Just ask the victims of Nazi Germany.

Also while those two metals do have industrial uses, they are usually not the only metals that work in those situations. So really much of the value of these metals is because people believe it has value.
 
CrazyNutz said:
Silver (and gold) is an object that can be removed from your possession. Just ask the victims of Nazi Germany.

Also while those two metals do have industrial uses, they are usually not the only metals that work in those situations. So really much of the value of these metals is because people believe it has value.
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It's debatable whether it's easier to secure precious metals or bitcoin. And I'll take the proven history of value over dubious fads.
 
CrazyNutz said:
If shit like that is going down, the only currency of value will be food, and ammo.
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acceptance said:
It's debatable whether it's easier to secure precious metals or bitcoin. And I'll take the proven history of value over dubious fads.
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It's actually not debatable ATM. It may be something to consider when quantum computing goes mainstream. But I think by then it will be hardened against being cracked by quantum computing.

There's also a proven history of people/corporations refusing progress, and getting left in the dust. 🤷‍♂️

Here's a list of companies that stayed with the tried, and true way of thinking https://www.valuer.ai/blog/50-examp...at-failed-to-innovate-and-missed-their-chance
 
Laputan Machine said:
So are you supposed to sell BTC when the stock market goes up, and then buy BTC when the stock market goes down?
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The stock market?

You buy BTC when BTC is at the bottom, and sell BTC when it's nearing the top. Don't use the stock market as an indicator in BTC.
 
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