Bitcoin (cryptocurrency)

[Gareth Barry Conlon]

Isn't that a Ponzi scheme as apposed to a pyramid scheme.

All variations of the same thing. The common theme is zero real value and new investors funds used for paying out to the prior generations of investors.

All the money invested in to bitcoin, where has it gone?

 

[Tuearts right boot]

All variations of the same thing. The common theme is zero real value and new investors funds used for paying out to the prior generations of investors.

All the money invested in to bitcoin, where has it gone?

Into someones pocket who's a lot more savvy than me unfortuately

 

[blue wang]

Legal tender is taken for granted by us in 1st World countries, there are many many instances of poorer counties seizing legal tender of their citizens leaving them penniless. Cadano for instance is setting up decentralised currency in Africa right now that is backed by the Egyptian government (whos prime minister has University degrees in cryptocurrency FYI), its 100% under the control of the owner of the currency and is peer to peer trading so it cannot be taken away from them by sidious rulers.

Besides that compies like Tesla accept bitcoin for purchases now, venmo owned by PayPal allow people to pay using crypo and even buy it from the app. BMW have signed a contract with VeChain to for their block chain to help with world wide logistics. Block chain international transactions clear in 15mins as opposed to 4 or 5 days. International companies will use this technology as a means to progress

There are lots of examples of companies waking up to crpto.

Legal tender right now is on its last legs, look at the world wide debt we are currently in and it will get worse. Decentralised currently will protect people against hyper inflation if there is a collapse of an economy.

I would say we are 5 - 10yrs away from a shift in the way everyone manages their finances and currency.

Don't get me wrong there are plenty of shitcoin ponzi scemes, dodgecoin, safe moon and the like just offer a meme and have social media pull. They don't offer any innovation and exist to scam money out of retail investors when the majority stake holder dumps and runs.

If I understand you correctly, you state it underlying value is it's legitimacy,. The fact that you are able to exchange the currency for goods?

As someone that studies finance would love to see at what point do people and companies state they are no longer believe in bit coins function as a6 store of value. For instance if the currency lost 75 percent in a day,. Would Tesla still accept it as a means of payment,. You know just a stress test of sorts...would be interesting.

 

[BusterPhillips]

If I understand you correctly, you state it underlying value is it's legitimacy,. The fact that you are able to exchange the currency for goods?

As someone that studies finance would love to see at what point do people and companies state they are no longer believe in bit coins function as a6 store of value. For instance if the currency lost 75 percent in a day,. Would Tesla still accept it as a means of payment,. You know just a stress test of sorts...would be interesting.

Yes, but you would have to pay a lot more coin. Same could be said for the £

 

[blue wang]

Yes, but you would have to pay a lot more coin. Same could be said for the £

It's not always like that though many developing countries often start using the US Dollar when currency starts experiencing hyper inflation.

 

[Wafty Cranker]

It's not always like that though many developing countries often start using the US Dollar when currency starts experiencing hyper inflation.

Or when countries experiencing hyperinflation they could buy a digital decentralised digital currency.

That’s what’s happened in Venezuela and more recently Argentina has seen a crypto boom as well.

 

[blue wang]

Or when countries experiencing hyperinflation they could buy a digital decentralised digital currency.

That’s what’s happened in Venezuela and more recently Argentina has seen a crypto boom as well.

That's interesting,. Could one speculate on the argie crypto,. If the majority of a countries transactions are via crpto,. Sounds like it would be worth a flutter.

 

[BusterPhillips]

That's interesting,. Could one speculate on the argie crypto,. If the majority of a countries transactions are via crpto,. Sounds like it would be worth a flutter.

Ultimately its a risk investing in crypto, even though I'm pro crypto no one can say for sure if it's a bubble or not.

The market is very vulnerable but block chain and crypto are in their infancy and these early days its being rightly compared to the birth of the Internet.

The value of the coins fluctuate widely, it will stay like this until its regulated but until then there are opportunities to be had.

 

[comiskey33]

Few footballers attach their name to ZIL today price up 28%
our very own ruben diaz being one, glad im already on the mystery bus tour

 

[KPXBLN]

I just listened to a very interesting podcast on Bitcoin. It's hosted by Chris Hayes, who does a nightly news show on MSNBC , with a guest who writes for Bloomberg News.

Here's the episode description:

How does bitcoin work? Where did it come from, why does it exist, and will it ever be used for everyday purchases? Far from some passing fad, bitcoin has been around for more than a decade now and shows no signs of going anywhere. We figured it was long overdue to understand the most well-known cryptocurrency and the problem it is trying to solve. Lucky for us, Bloomberg editor Joe Weisenthal came prepared.

This maybe makes it sound quite basic, but I found it really informative - and convincing - on the concept and use-case behind cryptocurrency, while at the same time making me really sceptical about Bitcoin itself.