Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 1117618 times)

SOMEPARTS

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3100 on: May 03, 2020, 09:16:38 PM »
It's not easy to use.

It's too volatile for any real business to accept it as funds.

It's ancient technology as far as energy consumed and transaction rate.

The selling points of it being independent money when it first came out have been squashed by banks and govts.

There's more...but that should be plenty enough.

polychronopolous

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3101 on: May 03, 2020, 09:42:46 PM »
It's not easy to use.

It's too volatile for any real business to accept it as funds.

It's ancient technology as far as energy consumed and transaction rate.

The selling points of it being independent money when it first came out have been squashed by banks and govts.

There's more...but that should be plenty enough.

1. It's extremely easy to use once you understand what you are doing.

2. Who cares if "business want to accept it as funds". The whole purpose of Bitcoin is to hoard it like a greedy little bastard, not buy lattes or auto parts.

3. Energy costs - Who cares, the banks waste far more

4. It is independent money and the banks and governments can't do shit about it.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3102 on: May 03, 2020, 10:00:44 PM »
1. It's extremely easy to use once you understand what you are doing.

2. Who cares if "business want to accept it as funds". The whole purpose of Bitcoin is to hoard it like a greedy little bastard, not buy lattes or auto parts.

3. Energy costs - Who cares, the banks waste far more

4. It is independent money and the banks and governments can't do shit about it.

All these responses are correct.

Someparts - its amazing you don't "get it". But you will.

1 - Interfaces will be created that will make it super easy to use (think fingerprint access via a phone), and virtually instantaneous payments from a consumer facing perspective. (You will not see, nor need to understand what is going on behind the scenes to drive the transaction).

2. Business, and indeed, anyone, will increasingly accept anything of value, especially as use/transferring etc becomes easier.

3 - The irony is that this is what drives the value. Both the ability to create, the cost to create, and of course the total limitation on coins are what drives the value. Gold also costs money to create. On the other hand, printing dollar bills costs virtually nothing  - so given these factors, what currency do you think will increase in value? Further, most of us who own BTC are not mining - rather we are holding and/or transacting. So do not be confused or put off by the expense of mining. Economics takes care of that.

4. BTC is global. And cannot be defeated by any Government as it is governed, ultimately, by mathematics. If there ever in history has been a "power to the people" moment, BTC is it. Again, by the time the masses realize, prices will be much much higher (due to a simple application of supply and demand). Governments nor banks can defeat BTC. So over time you will see a "if we can't beat-em then join-em" approach emerge. This will happen subtly, and before most know it, various banks, governments will own increasingly larger stakes in BTC.

I will say it again. Owning some BTC is your hedge on the future.

Twaddle

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3103 on: May 03, 2020, 10:29:51 PM »
All these responses are correct.

Someparts - its amazing you don't "get it". But you will.

The irony.   :D

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3104 on: May 03, 2020, 11:06:38 PM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3105 on: May 03, 2020, 11:21:12 PM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?




Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3106 on: May 04, 2020, 12:39:09 AM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?

No, not a coin or anything physical, just data created on computers and then sold to people, but the data is of a limited quantity and this scarcity is what is supposed to contribute to it's value.

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3107 on: May 04, 2020, 01:06:56 AM »


...... not to mention the possible of extreme wealth.




O, yes : ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D O

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3108 on: May 04, 2020, 01:15:18 AM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?


After years of imaginary "exsistance" still no mineral example of it  ??? ::) :P


Flexacon

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3109 on: May 04, 2020, 05:43:36 AM »
Let's  keep it real. The recent bull run was most likely fuelled by people who are still getting their monthly pay and those getting government cheques. They didn't have the usual things to spend it on so figured investing in bitcoin would be a good idea. (It won't)

Twaddle

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3110 on: May 04, 2020, 06:43:59 AM »
Bitcoin is actually a coin. You "mine" it? Where? What does it look like and how did it get its value?

Everything you need to know.


OlympiaGym

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3111 on: May 04, 2020, 11:58:13 AM »
What’s a good resource, whether book, video series, etc., for the uninitiated of average intelligence to learn about bitcoin?

Twaddle

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3112 on: May 04, 2020, 12:38:52 PM »
What’s a good resource, whether book, video series, etc., for the uninitiated of average intelligence to learn about bitcoin?

This thread is the only book you need.  Start om page one. 

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3113 on: May 04, 2020, 02:37:28 PM »
All these responses are correct.


 On the other hand, printing dollar bills costs virtually nothing 




REALLY  :o :o :o so printing material & printing production is for FREE  ;D ;D ;D

Example: Australian dollar is 'printed' on polymer & 'printer' costs over 200 millions !.

Good 1 Wiggzy !.

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3114 on: May 04, 2020, 02:46:49 PM »
All these responses are correct.



4. BTC is global. And cannot be defeated by any Government as it is governed, ultimately, by mathematics. If there ever in history has been a "power to the people" moment, BTC is it. Again, by the time the masses realize, prices will be much much higher (due to a simple application of supply and demand). Governments nor banks can defeat BTC. 




Really  ::), any local  Government can turn off Internet connection & btc is screwed ................

Wiggzy, U are very "streetwise" gifted  ;D ;D ;D


gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3115 on: May 04, 2020, 07:53:13 PM »

Really  ::), any local  Government can turn off Internet connection & btc is screwed ................

Wiggzy, U are very "streetwise" gifted  ;D ;D ;D

Lol. Wrong. Even with the internet "turned off", as you put it, the coins continue to exist - the reason being is that they are the function of a mathematical algorithm - a universal truth that will continue to exist forever. Bitcoins can be accessed at any time internet access is restored. Even if all of the US internet was shut down (basically impossible) there is the entire rest of the world that continues to exist, but either way, the coins will be there as soon as access is restored. On the other hand, if your paper money gets lost because you drop your wallet, its gone for ever.

If you are really going to put effort into thinking about idiot examples to discredit BTC, suggest you think about a few more (slightly less) idiotic examples, that will help you see the value in BTC.

Eg:

-All paper currency is prohibited.

-Gold is prohibited.

-Government massively raises taxes (to fund debt or a war).

-Foreign invasion that confiscates physical assets.

-Banking system goes down due to a malicious virus.

-Hyper inflation.

-All Government money goes electronic (meaning all transactions of Govt money are traced).

To anyone reading this (now or in the future) - YOU WERE WARNED. There are good reasons why this thread exists.

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3116 on: May 04, 2020, 10:01:20 PM »
No, not a coin or anything physical, just data created on computers and then sold to people, but the data is of a limited quantity and this scarcity is what is supposed to contribute to it's value.

Just data created on a computer? Then why is it limited? Just create more data. Or why not just created brand new "data" and call it Bitcoin Plus?

I'll read the vid posted when I get a chance and hopefully this will answer my questions.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3117 on: May 04, 2020, 10:57:33 PM »
Just data created on a computer? Then why is it limited? Just create more data. Or why not just created brand new "data" and call it Bitcoin Plus?

I'll read the vid posted when I get a chance and hopefully this will answer my questions.

Read the whole thread Pelluis - you are asking the right questions. The answers are all in the thread. Read from beginning to end.

"Bitcoin Plus" coins, were indeed created - many people created new coins. They failed. Just like with naturally occurring items in the world, we in the past put value in bones, feathers, rocks, etc but collectively gravitated to gold. In the digital world, this same phenomenon also played out, and BTC came out on top.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3118 on: May 04, 2020, 11:21:45 PM »
Just data created on a computer? Then why is it limited? Just create more data. Or why not just created brand new "data" and call it Bitcoin Plus?

I'll read the vid posted when I get a chance and hopefully this will answer my questions.


Pellius, currently there are 5,424 "coins" listed here:

https://coinmarketcap.com/


You'll notice in the top ten are two others called "Bitcoin" as variants.



As for me....yes....I "get it".

I WAS interested in crypto years ago...up until Charlie Lee from Litecoin showed what the true weakness was in the space. Greed.

Teutonic Knight 1

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3119 on: May 04, 2020, 11:52:16 PM »
Super bullshitt Wiggzy, BitBS is just like electric car, no AC/DC & is dead.

Remember that NYC blackout  ;D


gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3120 on: May 05, 2020, 12:01:21 AM »

Pellius, currently there are 5,424 "coins" listed here:

https://coinmarketcap.com/


You'll notice in the top ten are two others called "Bitcoin" as variants.



As for me....yes....I "get it".

I WAS interested in crypto years ago...up until Charlie Lee from Litecoin showed what the true weakness was in the space. Greed.

The lesson here is don't by alts (aka shitcoins). Buy the real thing. Greed works two ways - scammers came out with new hyped up coins, and people bought them thinking they were "cheap". Buy only the real thing. Bitcoin. Simple.

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3121 on: May 05, 2020, 02:14:21 AM »
Read the whole thread Pelluis - you are asking the right questions. The answers are all in the thread. Read from beginning to end.

"Bitcoin Plus" coins, were indeed created - many people created new coins. They failed. Just like with naturally occurring items in the world, we in the past put value in bones, feathers, rocks, etc but collectively gravitated to gold. In the digital world, this same phenomenon also played out, and BTC came out on top.

Jeee man, this thread is 127 pages long and three years old. The one thing I notice is that it is a very volatile stock. Just goes up and down by the second. I made $150 one day and lost it all the next.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3122 on: May 05, 2020, 08:59:31 AM »
I will at some point summarise the key nuggets. But I promise if you have the time it’s worth the read.

If there is one piece of advice I can give you is buy some, put it into cold storage (ie take it off the exchange so no one else can touch it). Store your key carefully. And don’t bother watching daily price movements. The time may well come when everyone wished they had taken these steps...

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3123 on: May 05, 2020, 06:30:43 PM »
Jeee man, this thread is 127 pages long and three years old. The one thing I notice is that it is a very volatile stock. Just goes up and down by the second. I made $150 one day and lost it all the next.



Godess Pele is hangry !?. Something is no good !.


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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3124 on: May 06, 2020, 01:11:26 AM »
if this the case, one of my relative will be millionaire soon!!