BITCOIN

MeteredOut

I quite like the term Buttcoin

Scottex99

Check out r/buttcoin on Reddit, you’ll love it 

HHarry

User232002 said:

HHarry said:

 Works 24/7 doing what?  You’re not filling your car up with petrol with it.

The sheer ignorance.

 I’d be grateful for some enlightenment then.

  It can’t be used as an alternative for cash in anything other than a handful of places
  It’s a poor store of wealth when it’s value rise and falls so dramatically
  I don’t think (and here I am ignorant) that you can secure a reliable / re-occurring income from it

 So what is it doing 24/7?  If the answer is ‘provide an alternative to FIAT’ then I’d suggest that if any major currency went that far south, we’d have far more important societal problems to worry about than getting hold of some BTC.

Cus

Boomers - i'm sorted, milked the established system, don't like the idea that someone younger knows better about investing, let's mock the whole thing/ don't actually understand it.

Millennials - the economic world has screwed us, bitcoin is the future, and will revolutionise finance, and get one over on the boomers, fiat is going to blow, and I've got no other option but to go all in on crypto.

Gen x (me) - maybe I should punt a few grand on it, but don't get too serious.

Scottex99

Cus said:

Boomers - i'm sorted, milked the established system, don't like the idea that someone younger knows better about investing, let's mock the whole thing/ don't actually understand it.

Millennials - the economic world has screwed us, bitcoin is the future, and will revolutionise finance, and get one over on the boomers, fiat is going to blow, and I've got no other option but to go all in on crypto.

Gen x (me) - maybe I should punt a few grand on it, but don't get too serious.

Accurate summary imo!

Scottex99

 I’d be grateful for some enlightenment then.

  It can’t be used as an alternative for cash in anything other than a handful of places
  It’s a poor store of wealth when it’s value rise and falls so dramatically
  I don’t think (and here I am ignorant) that you can secure a reliable / re-occurring income from it

 So what is it doing 24/7?  If the answer is ‘provide an alternative to FIAT’ then I’d suggest that if any major currency went that far south, we’d have far more important societal problems to worry about than getting hold of some BTC.

I’ll have a go, did one google search - https://www.nerdwallet.com/uk/business/companies-that-accept-bitcoin/

that handful of places will grow in time and ironically it’ll get harder to spend actual cash too I think. Some places already card only. Although both fiat ofc.

its a good store of value against any fiat since its inception and will continue to be so imo.

you can lend out your coins and get yield, if you are willing to assume some counterparty risk. Can be very risky in a black swan and bear market as seen with FTX/Celsius/BlockFi etc ñ.

Agreed that if fiat goes to 0 tomorrow, there will be bigger problems than the “savior” BTC but it doesn’t have to be that extreme.

What it’s doing 24/7 is existing, in a secured immutable transparent way. I can send some anywhere I like at any second of any day, nobody can stop me.

Fiat is not going anywhere any time soon but the history of all fiats follows the same pattern each time and the money printing and debt is so obviously not sustainable. That’s why crypto is worth consideration in my book.

Do I want it to bring down the banking system? No.
Do I think I’ll make money holding it this year? Yes.

I’ll also largely be trading the profits I make back into fiat to put into savings/stocks/property whatever, not everyone that believes in Bitcoin automatically thinks that “dirty fiat” has no use case 

Qyburn

Scottex99 said:

I’ll have a go, did one google search - https://www.nerdwallet.com/uk/business/companies-that-accept-bitcoin/

that handful of places will grow in time and ironically it’ll get harder to spend actual cash too I think. Some places already card only. Although both fiat ofc.

How many actually set their prices in Bitcoin? As opposed to a more or less fixed price in GBP but accepting payment in Bitcoin at whatever exchange rate is in force at that moment.

Scottex99

True, good point.

Some places will set it in sats and use the lightning network, coffee shops etc.

but I imagine most revert back to fiat pricing, still a method of payment though.

If I wanted to buy a car with my BTC today (I don’t), I’m sure I could find a way 

flaneurs_lobster

Scottex99 said:

If I wanted to buy a car with my BTC today (I don’t), I’m sure I could find a way 

Buy a car from a private seller? Maybe.

Buy a car from a commercial car retailer that was able to accept BTC and credit same to it's company accounts?

I'd suggest that you would struggle.

Scottex99

Yes, not denying that, it wouldn't be easy.

But in time, if there is more crypto adoption (or BTC has a huge pump in value) the there will be more every day.

My company has a client that rent supercars, they came to us because their potential clients were coming to them asking about BTC/ETH/USDT etc

If the demand is there it will happen