Bitcoin is the seventh largest asset in the world.
★Bitcoin is the best performing asset of the last 5 years
★Bitcoin is the best performing asset of the last 10 years
★Bitcoin is the best performing asset of the last 15 years
If I went to a shop and had to pay 0.00023 BTC for the stuff I wanted, how much would I have to pay so the seller got that money
How long would I be waiting at the till for the payment to go through?
How much would my bread, milk, etc have cost me in a year or two's time?
A currency needs two features in order to work - fidelity and underwriting. Cryptocurrencies are flawed because their fidelity is nearly perfect, but their underwriting is absent.
It is more like gold at the moment, no one buys their groceries with gold. You buy bitcoin, sell it, then buy stuff with the money you got for selling it.
you just gamble on the price it will be in the future.
the thing that I think is really really funny is that bitcoin was the do-not-use proof-of-concept thing that was meant to be used as a test bed to iron out all the kinks
the people who were very interested in get rich quick schemes and zero regulation turned the whole space into what you see today
How is it a multi-level marketing scam/ pyramid scheme?
I think if you're going to label it a scam, you need evidence to say so. Otherwise it's ok for you to admit that you just don't understand how Bitcoin or blockchain works.
Vinyl albums have been around for decades now. If people were ever going to use them to replace the hub caps on their car wheels, they would have started doing it by now.
There's an undertaker in Leicester that accepts bitcoin. Always thought that was weird. It also alternates between being a charity shop and an undertaker.
You'd have probably sold them when they hit $100 though, as you'd have been chuffed with a grand and there's no way there are enough suckers in the world to take it much higher than that right?
Comments
You've been trading some of the lira you're paid for dollars to save in
Now when you go to the grocery store, are you going to use the money thats losing value quickly? Or the dollars?
★Bitcoin is the best performing asset of the last 5 years
★Bitcoin is the best performing asset of the last 10 years
★Bitcoin is the best performing asset of the last 15 years
Should I spend the money that's losing value or the money that's gaining value? What's the rational choice?
How long would I be waiting at the till for the payment to go through?
How much would my bread, milk, etc have cost me in a year or two's time?
He used it as a digital currency
Was that a smart thing he did?
you just gamble on the price it will be in the future.
the people who were very interested in get rich quick schemes and zero regulation turned the whole space into what you see today
I think if you're going to label it a scam, you need evidence to say so. Otherwise it's ok for you to admit that you just don't understand how Bitcoin or blockchain works.
Can you buy your groceries with Gold?
But not sure how that's related to my point...
Them: You should get into Crypto.
Me: Seems more like a 'get rich quick' scheme than a currency that is practical to use...
Me: Ok, I'll just wait until then.
Them: More fool you, you'll miss out on getting rich quick.
Tulip futures for the last dummy standing.
Turned out it was a bit of a faff.
Bitcoin hasn't moved much past ponzi scheme.