Bitcoin

HansOndabush

Alright then, blockchain is a public ledger with every transaction in every Bitcoin recorded and updated forever. Which actually makes it very inefficient and too cumbersome to be of much practical use. Compare Bitcoin transaction rate of 7 per second to Visa's 40,000. 
Bitcoin itself is just a number; nothing more; no inherent value other than what speculators are prepared to gamble on it.

booneruk

HansOndabush said:

Bitcoin is surely doomed due to the obscene amount of energy it consumes to keep it running; more than used by Chile or the Czech republic for instance. And what do you get for all that waste of energy? Just some numbers.

How much energy etc goes into transporting/handling/printing paper money? etc etc. Lots of day to day things have an ecological cost.
There are some cryptocurrencies migrating to a different model, where the transactions are verified without the huge computing loads. Google Proof of Stake for more info.

HansOndabush

Yes there are other crypto but this thread is about Bitcoin.
Also the plethora of other crypto coming out will also doom Bitcoin value, well it doesn't have any value but let's say, will send the price back to earth.

booneruk

HansOndabush said:

Yes there are other crypto but this thread is about Bitcoin.
Also the plethora of other crypto coming out will also doom Bitcoin value, well it doesn't have any value but let's say, will send the price back to earth.

If it goes to zero, I'll personally buy infinity.

RichTips

If a friend of mine in the USA wanted to send my a £100 a few months ago it would have cost them $128. Now, due to the massive debasing of the currency by a centralized entity, it would cost them $139. I value an asset that can be transmitted internationally in seconds, without being subject to censorship, and unexposed to the money printing of whatever nation state it happens to be sitting in at that moment. The censorship-resistant "public ledger with every transaction in every Bitcoin recorded and updated forever" makes this a reality. Guess I and everyone else who values Bitcoin are idiots.. Idiots who made what is currently the best punt on a new asset class in history.

[Deleted User]

Retireby40 said:

I didn't buy bitcoin. And I'm not a millionaire. But I didn't say that I was an expert and that I told everyone that bitcoin was going to reach the heights it did.
Sorry to you then.

I'm most definately not a forum creep. Its just theres 0 credit to be given to someone who "called" something but never actually had the balls to back it up with their cold hard cash. 
Then you are not talking about me.

Humour me how much cold hard £££ do you have in the bank thanks to bitcoin? Any nice motors?

Are you finish with invading my privacy already, or you require to be told few times to understand basic things?

HansOndabush

RichTips said:

If a friend of mine in the USA wanted to send my a £100 a few months ago it would have cost them $128. Now, due to the massive debasing of the currency by a centralized entity, it would cost them $139. I value an asset that can be transmitted internationally in seconds, without being subject to censorship, and unexposed to the money printing of whatever nation state it happens to be sitting in at that moment. The censorship-resistant "public ledger with every transaction in every Bitcoin recorded and updated forever" makes this a reality. Guess I and everyone else who values Bitcoin are idiots.. Idiots who made what is currently the best punt on a new asset class in history.

Try using TransferWise. You can send currency around the world instantly and more cheaply than with bitcoin.

eskbanker

RichTips said:

If a friend of mine in the USA wanted to send my a £100 a few months ago it would have cost them $128. Now, due to the massive debasing of the currency by a centralized entity, it would cost them $139.

If you consider a shift of less than 10% in an exchange rate over a few months 'massive' then there must be some pretty extreme superlatives needed to describe the wild volatility of bitcoin valuations....

Apodemus

RichTips said:

If a friend of mine in the USA wanted to send my a £100 a few months ago it would have cost them $128. Now, due to the massive debasing of the currency by a centralized entity, it would cost them $139.

...and at that earlier time, I could have bought 12 thousandths of a bitcoin with his kind gift of £100, whereas now I could only by one quarter of one thousandth of a bitcoin with that £100. So do we assume that your point is that its not Bitcoin that has increased in value, but that all the world's currencies have been exposed to this "massive debasing...by a centralized entity"?

[Deleted User]

RichTips said:

If a friend of mine in the USA wanted to send my a £100 a few months ago it would have cost them $128. Now, due to the massive debasing of the currency by a centralized entity, it would cost them $139. I value an asset that can be transmitted internationally in seconds, without being subject to censorship, and unexposed to the money printing of whatever nation state it happens to be sitting in at that moment. The censorship-resistant "public ledger with every transaction in every Bitcoin recorded and updated forever" makes this a reality. Guess I and everyone else who values Bitcoin are idiots.. Idiots who made what is currently the best punt on a new asset class in history.

You sound like you bought a car, but don't know to use it, so you push it, and then moan it's slower than a horse. Your knowledge is few years behind.
Just install bitcoin Lightning wallet. Cost of sending money that way is about 0.00000001-0.0000001 BTC per transaction. Lightning is a layer 2 solution for bitcoin blockchain, a routing network, developed in sync with Bitcoin. In order to use it, you only make one transaction in public ledger, ever, everything else is in Lightning. Some of major exchanges and mining pools are already supporting it, so you don't even need that initial public transaction, you go straight to Lightning.