BITCOIN as an alternative to regular currency

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Euler
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Most BTC, by volume, are in the hands of a small number of untraceable individuals. Sounds like a dsytopian future, rather than a utopian one TBH.
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superfrank
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Euler wrote:
Fri Feb 05, 2021 9:47 am
Most BTC, by volume, are in the hands of a small number of untraceable individuals. Sounds like a dsytopian future, rather than a utopian one TBH.
Dystopian to me is a future controlled by leftist governments where people get paid in increasingly worthless currency.
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Euler
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Given that most BTC are probably being mined in China, it's probably the worst of both worlds for you then!
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abgespaced
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superfrank
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abgespaced wrote:
Sat Feb 06, 2021 8:14 am
https://cryptoslate.com/nigerias-centra ... urrencies/

And it begins
It's comic really that an African country should seek to ban cryptos when their own fiat currencies invariably end up worth less than toilet paper.
https://www.xe.com/currencycharts/?from ... D&view=10Y
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superfrank
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Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments
https://www.coindesk.com/tesla-invests- ... o-payments

Sends BTC to new all-time high.
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Euler
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Musk is pumping it on twitter also, along with Dogecoin for some reason!
weemac
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Euler wrote:
Mon Feb 08, 2021 2:45 pm
Musk is pumping it on twitter also, along with Dogecoin for some reason!
He said his dogecoin tweets were done as a joke, but the price rocketed anyway. People will believe anything.

https://www.ft.com/content/5d9d7eef-718 ... 4fcd043f53
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Naffman
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superfrank wrote:
Mon Feb 08, 2021 2:02 pm
Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments
https://www.coindesk.com/tesla-invests- ... o-payments

Sends BTC to new all-time high.
He hates short sellers but then buys a shed load of BTC then announces Tesla will start accepting bitcoin as payment.

But he's one of the people, no he's just using his platform for personal gain.
greenmark
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Naffman wrote:
Mon Feb 08, 2021 3:00 pm
superfrank wrote:
Mon Feb 08, 2021 2:02 pm
Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments
https://www.coindesk.com/tesla-invests- ... o-payments

Sends BTC to new all-time high.
He hates short sellers but then buys a shed load of BTC then announces Tesla will start accepting bitcoin as payment.

But he's one of the people, no he's just using his platform for personal gain.
It's an odd development. a) it's way outside his core business and b) If he's trying to raise the value with his reputation. But then sells to make a profit, he's going to look like a charlatan.
Then again entrepreneurs only have boundaries that are legally enforceable. (And probably beyond if they think they can get away with it).
Everything else is feasible if deemed to be worthwhile.
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Euler
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I can imagine a lot of people who buy into the TSLA story not being happy with now owning a chunk of Bitcoin as well.
callumth1
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Good morning 48k :)

Can see Apple and other major companies following Elon's lead.
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Naffman
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Fear and Greed index for crypto hit 95 yesterday which signals 'extreme greed'...
Emmson
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I have little to no knowledge in this area so I can't even check whether the early posts in this long & old thread have been borne out. :roll:
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xtrader16
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You can now buy a Tesla car with Bitcoin but try and pay your mortgage or local supermarket in Bitcoin.

Bitcoin is just platform the C.I.A and US Government invented to launder all the world dirty money so it could inject 100's of $billions into the world economy after the credit crunch in 2008.

Central Banks look like they can print money forever (we know they cant) so I dont see Bitcoin being used as a primary currency by major nations but the lies of Haiti and some African countries i can seriously see them using it within 5-10 years.

Governments cant really control it, they will hate that.
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