Actual use of BTC

[MikeyMikey13]

Let's look back at the financial institution as a whole.
We (human race) started off bartering. We traded one cow for 5 sheep, a rug for a couple articles of clothing, etc. After that, a guy saw a shiny rick and decided that it was worth XX number of cows since it was hard to find. Following that, it became easier to get some mud and press them into a shape and trade those versus all of the shiny rocks we had. From there, metals were used to make coins (intrinsic value). We print a printed a piece of paper with someones face on it and told people that it was worth XX amount of that rock that we liked so much.
Then it started getting crazy.
We got a piece of paper, wrote a value on it, and said that that building over there would give them the value I wrote on it after I leave.
Once that took off (and people were robbed left and right - "Catch Me If You Can") a guy got the idea that he could take a piece of plastic and tell people that someone else is going to pay for the item because he doesn't actually have the money himself (credit cards).

With all of this, cryptocurrency is the next logical step. It is a completely decentralized currency (you don't have to ask someone to use it - banks), there is a limited number (21 million and there cannot be more created), and your transactions are secured and finalized through the blockchain (someone can't do a chargeback).

I am a strong believer in crypto and have made a pretty good return on my investments. Yes, the market is volatile but you can track it in the exact same way that the stock market is tracked (same indicators). The bubble argument is a joke. The same people who are claiming that are buying it under the table to capitalize on the growth (JP Morgan). Additionally, with the introduction of futures trading to the CBOE, we have now seen THE institution validate it out of one side of their mouth while condemning it out the other side. Everyone is jumping on the train (amazon, ebay, overstock, Expedia, ALL of NYC, LA, Chicago, Seattle, etc) and the train is moving fast.
The largest number of naysayers I have seen have been from a different generation. Looking back, there were the same number when credit cards came out, checks came out, all of the other financial changes. Change hurts and it isn't fun but it is necessary.
I could go into a political (world not just US) argument with this but my point is, with all of the instability in the world order, this is closer to stability than anything else we have out there in the financial ecosystem.

Is this @mickyfu on an alt account trying to stir the argument some more?

Maybe, maybe not. A bit like when they tried to compete with eBay and failed miserably, and the same when they tried to compete with Facebook.

AWS and Google Cloud... I mean they kinda won with Gmail

 

[shagoholic]

Maybe, maybe not. A bit like when they tried to compete with eBay and failed miserably, and the same when they tried to compete with Facebook.

that is true! however, i feel the blockchain is something google would really smash! they already have huge data centers, etc. this is totally different from social media and a selling website. This is there field really, google can smash this.

Maybe. Maybe not. Awwww, myspace though - hat brings back good memories.

Think about the personal computer and Microsoft vs Apple mac. Personally I have no doubt at all that Apple was the better computer right from day 1. But who took the lead? Microsoft. They have been a household name since the beginning and only just now are Apple really starting to claw back a sizable chunk of the market (And well deserved). So there are examples of it going both ways.

Is bitcoin a myspace that is paving the way for something better? Or is it a Microsoft that will gain enough control for it not to matter that its not the best thing on the market.

lol ahahaha true. i bet you will be saying in years to come "awww bitcoin though - that brings back good memories"

the blockchain is here to stay and as of yet, bitcoin has no real comptitor.. yes there is eth and there is money to be made.. but that in my eyes is not a major competitor. what you have is major companies around the world jumping on this train.. there will be something coming.. question mark though is when.

here is a pretty interesting article..

https://www.coindesk.com/threat-bitcoin-futures/

 

[itz_styx]

bahahahahahaha!!!

I am betting my bottom dollar there is going to be some E PILLS SHORTLY, with bitcoin stamps on em.

of course they were already here

 

[shagoholic]

of course they were already here

bahahaha. i didnt search for it, as i'm on a public internet connection lol.. but hahahaha.. those look super good, wouldn't mind a bitcoin now tbh

p.s - where they strong ? jk!

 

[itz_styx]

didn't take those but apparently they got a high dose of mdma like over 200mg so seem to be good for 2 people lol

 

[shagoholic]

if anyone wants to know how to make these bitcoins, fast forward to the 6 minute mark. Please keep it secret

 

[AngelSeo]

Why do you invest? (other than to make money, because that isn't a reason)

OK, this is the silliest thing I read this year. The ONLY valid reason to invest is to make money. There is no other reasons for that.

 

[shagoholic]

didn't take those but apparently they got a high dose of mdma like over 200mg so seem to be good for 2 people lol

hmmmmmm you seem to know an awful lot about these haha

 

[Deleted member 657006]

btc is on the stock exchange know so you can know buy anythink you want even a house ....

gd luck

 

[itz_styx]

hmmmmmm you seem to know an awful lot about these haha

i used to go clubbing a lot but nowdays just once in a while hardly do that stuff anymore, well and its easy to find the info online there are many sites that test pills on the market so you can find out whats in them

 

[shagoholic]

i used to go clubbing a lot but nowdays just once in a while hardly do that stuff anymore, well and its easy to find the info online there are many sites that test pills on the market so you can find out whats in them

yeh same here man, had some of the best nights of my life on em. BUT! NOW! I don't know what it is anymore but they just leave me feeling fucked for days after! i feel depressed, can't eat, can't sleep. Prefer now just to stick to some really weed.

I don't go OTT on the weed. Couple joints, some good food, shit movie and i'm set for the night.. sounds boring but suits me right down to the ground. when i have forced myself to go out clubbbing with friends.. it's a good night but you wake up the day after and think that line of coke wasn't worth it all.. as i've just sniffed 2 grams at least in a few hours, high as fuck, coming down and wanting more. stay away from it all now. only weed i touch now and beer. that's it. can't handle the class a's anymore, they fuck me up to much and takes ages to recover.

 

[shagoholic]

yeh same here man, had some of the best nights of my life on em. BUT! NOW! I don't know what it is anymore but they just leave me feeling fucked for days after! i feel depressed, can't eat, can't sleep. Prefer now just to stick to some really weed.

I don't go OTT on the weed. Couple joints, some good food, shit movie and i'm set for the night.. sounds boring but suits me right down to the ground. when i have forced myself to go out clubbbing with friends.. it's a good night but you wake up the day after and think that line of coke wasn't worth it all.. as i've just sniffed 2 grams at least in a few hours, high as fuck, coming down and wanting more. stay away from it all now. only weed i touch now and beer. that's it. can't handle the class a's anymore, they fuck me up to much and takes ages to recover.

this been said... i probably would try half a bitcoin to loosen up a bit.. but that would be my limit.

 

[alwaystoday]

I'm sorry so much is wrong on so many levels here...

(BTC is a product, not a currency).

How do you define a currency? Of course Bitcoin is a currency, you can buy things with it, like you can a USD, GBP or EURO.

A piece of tech, with no material use worth 17k a piece must be bubble, right?

Name me some fiat currencies that are popular that have 'real material worth?' worth of currency is only as good as the perceived value people give it just like BTC.

I wouldn't call the fees "low" at the moment, I transferred $100 to another wallet the other day and it cost $15 - 15% is ridiculous

It was an objective statement when comparing it to transferring with paypal or your bank.

Yeah I completely agree bitcoin tx fees are ridiculous at the moment, it's because the coin is so popular. It doesn't cost me 15% to get Paypal into my bank.

 

[itz_styx]

yes weed is still the best also our topic is much better as the OP. these BTC shit threads are too many anyhow lol

 

[alwaystoday]

What are the unique features of BTC?
Why do you invest? (other than to make money, because that isn't a reason)

It's decentralized and out of the control of governments. It's a currency that can be owned by anyone with a smart phone, unlike banks that ask for ID. This is great for developing countries.

Government can't steal your money when the country goes into financial meltdown (Hi Greece).

There's a finite number of coins mintable, which means as more and more are mined, the price should naturally increase, providing demand meets supply, which it looks like it's doing right now.

BTC is gaining more momentum lately (i.e. the futures released this week) ; business such as “The GMO Internet Group" deciding to pay some if it's 4k, odd workers partly with bitcoin.

Bitcoin is exciting... it's nice to have complete control over your own funds.

 

[shagoholic]

yes weed is still the best also our topic is much better as the OP. these BTC shit threads are too many anyhow lol

hahahah yeah man. You remind me of Gail at around the 3 mins mark... any relation ?

 

[MikeyMikey13]

OK, this is the silliest thing I read this year. The ONLY valid reason to invest is to make money. There is no other reasons for that.

No it isn't silly, seems worrying the question went right over your head. Obviously people invest money to make money, what I asked is why do people invest in Bitcoin (over other investments)?

How do you define a currency? Of course Bitcoin is a currency, you can buy things with it, like you can a USD, GBP or EURO.

Currency has 4 defining factors: one being store of value. Due to Bitcoins volatility, it doesn't have this.

Name me some fiat currencies that are popular that have 'real material worth?' worth of currency is only as good as the perceived value people give it just like BTC.

GBP is backed by our gold reserve.
USD is backed by oil (due to it being the main trading currency for it)

Need I go on?

 

[AngelSeo]

No it isn't silly, seems worrying the question went right over your head. Obviously people invest money to make money, what I asked is why do people invest in Bitcoin (over other investments)?

Obviously because they believe that with Bitcoin they can make more money than with other investments.

Currency has 4 defining factors: one being store of value. Due to Bitcoins volatility, it doesn't have this.

GBP is backed by our gold reserve.
USD is backed by oil (due to it being the main trading currency for it)

Need I go on?

GBP is NOT backed by the gold reserve. Right now there are about 80 Billion pounds PAPER money, not including the gazillion electronic ones. The gold UK have? 310 metric tones - each one cost $64.3 million. = grand total of ~$20 billion which are about 15 billion GBP. This is not even close to covering just the paper money, let alone the electronic ones (and they are dozens of times more than the paper ones).

 

[MikeyMikey13]

Obviously because they believe that with Bitcoin they can make more money than with other investments.

Do they believe that for any of their own reasons? Or just that they read it online lmao. Stupid reason.

GBP is NOT backed by the gold reserve. Right now there are about 80 Billion pounds PAPER money, not including the gazillion electronic ones. The gold UK have? 310 metric tones - each one cost $64.3 million. = grand total of ~$20 billion which are about 15 billion GBP. This is not even close to covering just the paper money, let alone the electronic ones (and they are dozens of times more than the paper ones).

The GBP is still backed by the economy of the UK. What economy backs bitcoin? Apart from dream market?

 

[1Enigma]

Before making any normal investment I would ask myself: "what use does this product have?" (BTC is a product, not a currency).

I obviously thought: okay I can buy stuff and transfer money across the world in 2-6 hours for low fees.

But I can do the same with USD or GBP.

What are the unique features of BTC?
Why do you invest? (other than to make money, because that isn't a reason)

You can get a 20% discount on weed, plus you don’t have to pay $40 shipping and wait for the certified letter with your cash to travel across the ocean.