Fullsize80cherokee
Red Skull Member
I sold 75% of mine last week are you going to hold on to it or take your profit?
I’m crossing my fingers it reaches 1 dollar one day then I’ll cash out
I sold 75% of mine last week are you going to hold on to it or take your profit?
So what backs all this digital currency, what gives it value? If the dollar goes to zero, is it worth something in rubles?
Broke 30k
I’m crossing my fingers it reaches 1 dollar one day then I’ll cash out
So what backs all this digital currency, what gives it value? If the dollar goes to zero, is it worth something in rubles?
There is only so much BC that can be mined. (Not sure if that has been reached yet.) Once it's there, the value can only go up. (Compared to other currency) So in effect, its the same as gold or land. I know they still mine gold, but the amount mined is a small fraction of the amount allready mined. As long as it is not hacked or made illegal, it is a fantastic investment. The same can be said for gold. Land is probably the best currency except that it is the least portable. (Easier to tax or confiscate)
well that is the ultimate goal, that the digitals will be backed by the same amount of faith that backs everything else.
dollar goes to zero? okay, well your "digital" currency will still be accepted and just as easily converted to anything else, or left as digital to them trade with further.
Wouldnt this require widespread acceptance? If you were going to buy whatever from me for 2 bitcoins based on the current value, what happens if it tanks an hour later?
So what backs all this digital currency, what gives it value? If the dollar goes to zero, is it worth something in rubles?
Bitcoin has been used in countries where the currency collapsed.
people deciding its an investment rather than a currency kinda makes for it being a shitty currencyyes it would, hence the absurd massive and constant price swings relative to everything.
[486 said:;n255101]
people deciding its an investment rather than a currency kinda makes for it being a shitty currency
Utah-based Bees Brothers first accepted Bitcoins in 2011. ..
It also cuts down on processing fees. Credit cards usually charge 2% to 3% in fees; BitPay and similar processors charge between 0% and 1%.
Today, about 50% of Bees Brothers transactions -- both wholesale and retail -- are done with Bitcoins. Initially, they came largely from Seattle, New York, L.A. and San Francisco. Now, he said the orders are all over the world.
which is all a currency really is anyways. i mean, at the end of the day it's just a matter of whatever you and whoever you've met want to use.
[486 said:;n255147]
well, for a currency to be functional it really needs slight steady inflation if anything
any amount of deflation pretty quickly fucks it right out of the market as people then will not spend it so they can "see where it goes"
[486 said:;n255147]
well, for a currency to be functional it really needs slight steady inflation if anything
any amount of deflation pretty quickly fucks it right out of the market as people then will not spend it so they can "see where it goes"
eh, not really. that is a myth sold to you by the fiat mega-corps and their globalist propaganda
Saw it was up over 34,000 then dropped 5000 today
. Not sure what's next.
I saw a headline about Musk I think it was, mentioning another crypto, naturally that one was going up. This while reading about the owner of Twitter and chime complaining about possible regulations.
Sold most of mine in the 34k range yesterday. Hovering around 31k again. Not sure what's next. I'll buy back in when I see a sign of a dip or that it's going to climb again.
Saw this morning that Etherium made it over 1k. I need to get my coinbase account set up
What platform do you you use to trade?
Saw this morning that Etherium made it over 1k. I need to get my coinbase account set up
It’s funny, BTC dropped, ETH went up and my account stayed around the same number. Normally they move together.
I've been getting the impression that they're all starting to be viewed as competition to each other. Maybe that would devalue BTC a bit?