Bit Coin

Herzlos

triathlon wrote: »

Bitcoin is an incredible invention that has the potential, no matter what the banks and media say, to do so much good in the world. A little clever man in a third world village with a mobile phone and a good idea has the potential to be his or his villages own bank and trade with the world for peanuts.
Sadly you have dark forces against you and the odds are that Bitcoin will be fought against by the real people who run this world. But if it does succeed the value of Bitcoin has no limits to how high it can go.


Good Luck

Bitcoin is a terrible idea for people who are not technologically savvy or not willing to lose the money. Due to the unregulated nature of exchanges, it's almost the equivalent of dropping a bag of gold bullion in a bin in the park and coming back an hour later to find it replaced with cash.



The 3rd world businessman is better sticking with something tangible or directly usable - money or I've heard phone credit is a big commodity since it's so easy to transfer about.

ExremelyCautiousSocialist

fun4everyone wrote: »

let's go baby

Go go go :T:T:T:T:T:T:T:T:T:T:T:T:T

fun4everyone

bloody hell its like December 2017

triathlon

Malthusian wrote: »

That has absolutely nothing to do with Bitcoin.

Bitcoin is useless for people in third world villages because of the long transaction times and high transaction costs. They use their mobiles to trade in fiat currency that they can spend, like everyone else.

Why would your little man trade with the world and give up his Bitcoin for their goods and services when he can sit on his Bitcoin and watch it rocket in value?

Look, I am not supporter or owner of Bitcoin and I rate it's success as very low, that is not to say that Bitcoin is not an excellent idea. I am not suggesting what it is now doing, I am suggesting once accepted what it is capable of achieving, my example being just one along with so many others. It has the potential to be the best payment system by far along with being the cheapest.

But it really is pointless discussing Bitcoin on a forum like this, 99% of people do not have the intelligence to understand blockchain along with the fact that Bitcoin is not designed to be an investment opportunity, though it is being used as one, that's where people get mixed up about Bitcoin. Most purists what speculators in Bitcoin to lose their money

fun4everyone

triathlon wrote: »

But it really is pointless discussing Bitcoin on a forum like this

This is probably the worst forum I have found for discussing bitcoin. It's best not to bother unless you want to make some old men get hysterical for a laugh.

Although I am more talking about the "Savings and Investments" board.

Malthusian

triathlon wrote: »

It has the potential to be the best payment system by far along with being the cheapest.

No it doesn't. It creaked horribly at the height of the last pump and that was when only a tiny segment of the global population were using it. And transaction costs hit 4% plus. If it was used in the same numbers as Visa and MasterCard it would be slower than tying cheques to the feet of carrier pigeons.

But it really is pointless discussing Bitcoin on a forum like this, 99% of people do not have the intelligence to understand blockchain!

99% is a higher percentage of Bitcoin bagholders who understand blockchain, as more than 99% of them think it is a magic something something that will get them rich quick, rather than a non-GDPR-compliant solution in search of a problem.

It doesn't matter if Bitcoin was designed as a technological proof of concept rather than a get rich quick scheme any more than it matters that gold was created by massive geological pressures under the ground rather than a conscious plan to create a store of wealth. What matters are the reasons people actually hold it, and a survey by the FCA last month showed that the vast majority of Bitcoin holders are hoping to get rich quick.

ExremelyCautiousSocialist

fun4everyone wrote: »

This is probably the worst forum I have found for discussing bitcoin. It's best not to bother unless you want to make some old men get hysterical for a laugh.

For sure, wish i came to that conclusion faster. Whatever they've been banging on about for years doesn't really matter much in the grand scheme of things.



Be fun to keep track of OPs gains though. Bit of a dip here to be expected after the recent run.

ExremelyCautiousSocialist

fun4everyone wrote: »

Although I am more talking about the "Savings and Investments" board.

Haha yeah for sure.

fun4everyone

ExremelyCautiousSocialist wrote: »

For sure, wish i came to that conclusion faster. Whatever they've been banging on about for years doesn't really matter much in the grand scheme of things.

There are several posters who do understand btc but even with that threads never take off on here really. I think there is a long one buried in the archives from 2011.

You are right, it doesn't matter. I see bitcoin becoming the worlds reserve, like gold is now. It will be in the distant future, but it will happen. Yes, I read the work of Hal Finney and anyone who wants to truly understand this stuff should do also.

triathlon

I really cannot understand the anger, bitterness or aggression so many show to people who invest in Bitcoin. It reminds me daily of the anger I see towards those of us that made a killing with property investment.

I do notice that many of the HPC mob are using Bitcoin as a last hope, can you imagine the stick we will get if UK property prices drop and Bitcoin soars at the same time:)

I will never show my face on here ever again