BITCOIN as an alternative to regular currency

[mcfc1981]

When I was on my travels recently I learnt a friend of mine was accepting payment in BitCoin's as a gimmick. Remarkably he collected over 1000 so he is now a BitCoin millionaire. I've told him to sell them, but as we all know emotion often overrules common sense so it's not entirely impossible that he will hold them until such time as he losses it all again!

Did your friend sell the 1000 Bitcoins back in 2013?

[RicHep365]

When things don't make any sense (Ripple)

http://awealthofcommonsense.com/2018/01 ... any-sense/

I'm holding ripple, i know it technically has no value, but while people are still clambering to find the next bitcoin, I'm happy to hold on. Same goes for Stellar Lumens, got to try and call the top, or just tap out when you're happy with your profit.

[Zenyatta]

When things don't make any sense (Ripple)

http://awealthofcommonsense.com/2018/01 ... any-sense/

Well, look *something* has to be driving those price movements. The question is what? the most popular theory is that the prices of the crypto-currencies are mostly being driven by people in Asia - China, Japan and South Korea. So then the question is why are the coins so big in Asia? The best idea seems to be that people in China often want to move money in and out of the country in order to escape the controls of the authoritarian Chinese govt.

Bitcoin also became popular in places such as Venezuela where the far left government totally destroyed the economy to the extent that Bitcoin is actually *more* stable than the hopeless local currency.

This does high-light an important point - sometimes it's actually *valid* to have something to hide, if a government is seriously dictatorial or has ruined the economy through gross mismanagement.

So these valid reasons do I think show that the crypto-currencies do have *some* minimum value as an alternative store of value to government fiat money?

[Euler]

Market cap of joke cryptocurrency Dogecoin surges above $2bn (There is no upper limit on issuing Dogcoin's)

https://www.ft.com/content/b2012d2a-002 ... 8eaef9cac0

Dogecoin, the cryptocurrency based on an internet meme of a Shiba Inu dog, almost doubled in value over the weekend, bringing its market capitalisation to more than $2bn on Sunday.Launched as a joke digital currency in late 2013 by self-described “data geek” Jackson Palmer, Dogecoin describes itself as the “fun and friendly internet currency”.

http://www.bbc.co.uk/news/business-42602038

[Euler]

So these valid reasons do I think show that the crypto-currencies do have *some* minimum value as an alternative store of value to government fiat money?

Prof Ethan Ilzetzki at the London School of Economics told the BBC: "A digital unit of currency has no intrinsic value unless it can be used in transactions, and I cannot name a single cryptocurrency that is more useful in transactions than a credit card that's denominated in dollars or pounds or yen.

[Zenyatta]

Why don't Betangel issue their own cryptos? 'Betangel Dust' seems like a catchy name. Could become huge, market it as the top crypto- for gambling applications?

[Charlie]

I want to enter money in bitcoin. What is the best amount to invest now? I read that the price of bitcoin will in any case grow. By the way, I also found a good guide, if anyone needs here is the link: https://bitcoinbestbuy.com/quick-guide/. But I'm do not know how much money it costs to invest in order to earn money?

[marksmeets302]

Now why didn't I think of that? A cryptocoin for porn! Too bad the "inventor" ran off with the money: https://www.zerohedge.com/news/2018-01- ... tors-money

(Source is zerohedge, bit of a batshit crazy conspiracy theory website. Their articles usually contain spores of truth carefully mixed with anti-government statements. )

[mhorro]

Hi,

I have spent the last 3 months getting up to speed with crypto currencies and blockchain technologies. Personally I love the decentralization away from the big players who are making alot of money, banks, money exchanges etc. We had the first computer, then the internet and then mobiles/tablets and cryptos are the next big thing. The great thing about cryptos is that it gives 3rd world countries who have worthless currencies to trade with the world using a crypto like bitcoin etc. That surely has to be a good thing! It also makes it easier for businessses to raise capital without the big institutions blocking with red tape and creaming of their financial cut. Personally I have invested in Stellar and it is money I can afford to lose. Mark

PS: I have buying up domains like

betfaircryptocurrency.com
cryptocurrencyadvice.co.uk
oapcoin.com


and many more!

[mobius]

CES 2018: Kodak soars on KodakCoin and Bitcoin mining plans
By Chris Foxx & Leo Kelion
Technology reporters

Cor the big boys are tryin' to get in on the act!l
I particularly like the :-
"This is a phenomenon we saw back during the dot com days in the late 1990s where traditional companies would mention some kind of internet strategy and their stock price would jump up," commented Garrick Hileman from the Cambridge Centre for Alternative Finance.

and the :-
Since its collapse in 2012, Kodak has licensed its brand to a variety of manufacturers, with the mark appearing on batteries, printers, drones, tablet computers and digital cameras.

Can you actually smell desperation?


BBC.CO.UK
http://www.bbc.co.uk/news/technology-42630136

[cyxstudio]

So these valid reasons do I think show that the crypto-currencies do have *some* minimum value as an alternative store of value to government fiat money?

Prof Ethan Ilzetzki at the London School of Economics told the BBC: "A digital unit of currency has no intrinsic value unless it can be used in transactions, and I cannot name a single cryptocurrency that is more useful in transactions than a credit card that's denominated in dollars or pounds or yen.

do credit cards provide

-anonymity ?
-fast transaction ?
-low fees?
-simplicity?
-inflation proof?
-censorship proof?

[steven1976]

So these valid reasons do I think show that the crypto-currencies do have *some* minimum value as an alternative store of value to government fiat money?

Prof Ethan Ilzetzki at the London School of Economics told the BBC: "A digital unit of currency has no intrinsic value unless it can be used in transactions, and I cannot name a single cryptocurrency that is more useful in transactions than a credit card that's denominated in dollars or pounds or yen.

do credit cards provide

-anonymity ?
-fast transaction ?
-low fees?
-simplicity?
-inflation proof?
-censorship proof?

Bitcoin charge around 50 $ for a transaction and can take up to 12 hrs cant they to process?
https://bitinfocharts.com/comparison/bi ... nfees.html

[cyxstudio]

Prof Ethan Ilzetzki at the London School of Economics told the BBC: "A digital unit of currency has no intrinsic value unless it can be used in transactions, and I cannot name a single cryptocurrency that is more useful in transactions than a credit card that's denominated in dollars or pounds or yen.

do credit cards provide

-anonymity ?
-fast transaction ?
-low fees?
-simplicity?
-inflation proof?
-censorship proof?

Bitcoin charge around 50 $ for a transaction and can take up to 12 hrs cant they to process?
https://bitinfocharts.com/comparison/bi ... nfees.html

scaling is one of the toughest problems now. Lightning network will solve that. (hopefully)

[Euler]

Everyone Is Getting Hilariously Rich and You’re Not

https://www.nytimes.com/2018/01/13/styl ... aires.html

[marksmeets302]

For your daily bitcoin-wtf? moment:

Researchers find that one person likely drove Bitcoin from $150 to $1,000.

https://techcrunch.com/2018/01/15/resea ... 0-to-1000/