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qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 3 days, 5 hours
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: DieCommie]
#19260266 - 12/11/13 01:49 PM (10 years, 2 months ago) |
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Quote:
DieCommie said:
Quote:
qman said: What do you believe gives the Bitcoin its perceived value? Encryption?
Thats certainly part of it.
I think its like presidental elections often are in the US. A vote for candidate A is more a vote against candiate B than it is for A. In this case, a vote for BitCoin is more a vote against the dollar/euro/yen than it is a vote for bitcoin.
I think its been speculated so high because it has outperformed almost everybody's expectations. It has survived speculative busts, it has survived technical glitches, it survived the closing of the silk road and its scope has only increased. Its not going anywhere and people know that. Of course bitcoin could function just as well if it was worth a penny a piece rather than a thousand a piece. But right now "regular" people (non-enthusiasts) are waking up to the reality that BitCoin is not a scheme and is actually very technically innovative and useful. So all of their dumb money has flooded into the market raising prices.
The funny thing is, some of the gold/silver bulls are actually becoming positive on Bitcoin, and even recommend buying on major pullbacks for a long term investment.
Of course, the majority of hard asset investors don't currently feel this way, maybe that will change in time.
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: qman]
#19260278 - 12/11/13 01:52 PM (10 years, 2 months ago) |
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I buy gold/silver from a place that accepts and supports bitcoin. But many gold bugs really do buy their gold for a Mad Max style planet where the internet, and hence bitcoin, no longer exists. If you really believe in that future then you would be stupid to invest in bitcoin long term.
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Baby_Hitler
Errorist




Registered: 03/06/02
Posts: 27,608
Loc: To the limit!
Last seen: 3 hours, 17 minutes
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: Shins]
#19264151 - 12/12/13 02:54 AM (10 years, 2 months ago) |
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Shins said: The USD is the worlds biggest ponzi scheme.
Being born is the worlds biggest Pyramid scheme.
-------------------- Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ (•_•) <) )~ ANTIFA / \ \(•_•) ( (> SUPER / \ (•_•) <) )> SOLDIERS / \
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fapjack
Title



Registered: 07/26/07
Posts: 16,574
Loc: Central New Jersey
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: shivas.wisdom] 2
#19264319 - 12/12/13 05:02 AM (10 years, 2 months ago) |
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BTC will go down as the myspace of cyrptocurrencies.
--------------------
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Shins
Fun guy



Registered: 09/15/04
Posts: 16,337
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: qman]
#19265648 - 12/12/13 12:47 PM (10 years, 2 months ago) |
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qman said:
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DieCommie said: I certainly cant fault you for that.
BitCoin has been accused of being a ponzi scheme, usually by old people who just dont get it, or technology in general. Rather than bother to understand it they just label it and move on. This happened most when it first started and was most confusing to the old people. Old people dont understand technology, and thats OK because they dont need too since they are going to die soon.
What do you believe gives the Bitcoin its perceived value? Encryption?
demand, like everything else.
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Shins
Fun guy



Registered: 09/15/04
Posts: 16,337
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: s240779]
#19265657 - 12/12/13 12:49 PM (10 years, 2 months ago) |
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Da2ra said: Similar in a less direct sense. Both a Ponzi scheme and the stock/currency markets profit from other peoples' losses and result in some people making money and some people losing money.
gtfo you have no idea what you're talking about and you know it.
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Baby_Hitler
Errorist




Registered: 03/06/02
Posts: 27,608
Loc: To the limit!
Last seen: 3 hours, 17 minutes
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: Shins]
#19265670 - 12/12/13 12:51 PM (10 years, 2 months ago) |
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Quote:
Shins said:
Quote:
qman said:
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DieCommie said: I certainly cant fault you for that.
BitCoin has been accused of being a ponzi scheme, usually by old people who just dont get it, or technology in general. Rather than bother to understand it they just label it and move on. This happened most when it first started and was most confusing to the old people. Old people dont understand technology, and thats OK because they dont need too since they are going to die soon.
What do you believe gives the Bitcoin its perceived value? Encryption?
demand, like everything else.
-------------------- Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ Ƹ̵̡Ӝ̵̨̄Ʒ (•_•) <) )~ ANTIFA / \ \(•_•) ( (> SUPER / \ (•_•) <) )> SOLDIERS / \
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Shins
Fun guy



Registered: 09/15/04
Posts: 16,337
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: DieCommie]
#19265673 - 12/12/13 12:52 PM (10 years, 2 months ago) |
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Quote:
DieCommie said:
Quote:
qman said: What do you believe gives the Bitcoin its perceived value? Encryption?
Thats certainly part of it.
I think its like presidental elections often are in the US. A vote for candidate A is more a vote against candiate B than it is for A. In this case, a vote for BitCoin is more a vote against the dollar/euro/yen than it is a vote for bitcoin.
I think its been speculated so high because it has outperformed almost everybody's expectations. It has survived speculative busts, it has survived technical glitches, it survived the closing of the silk road and its scope has only increased. Its not going anywhere and people know that. Of course bitcoin could function just as well if it was worth a penny a piece rather than a thousand a piece. But right now "regular" people (non-enthusiasts) are waking up to the reality that BitCoin is not a scheme and is actually very technically innovative and useful. So all of their dumb money has flooded into the market raising prices.
Bitcoin really started to take off when greece started confiscating peoples bank accounts during their ongoing debt crisis.
one of the major reasons for demand for bitcoins is to protect your wealth from the sovereign debt crises that are happening all over the world.
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s240779

Registered: 12/07/10
Posts: 12,880
Last seen: 3 months, 3 days
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: Shins]
#19369361 - 01/04/14 05:28 PM (10 years, 1 month ago) |
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Quote:
Shins said:
Quote:
Da2ra said: Similar in a less direct sense. Both a Ponzi scheme and the stock/currency markets profit from other peoples' losses and result in some people making money and some people losing money.
gtfo you have no idea what you're talking about and you know it.
I've sent you two PMs since I've been a member here and you've ignored both of them, so don't address me in a thread.
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RavageTheEarth



Registered: 12/28/13
Posts: 630
Loc: OH
Last seen: 9 years, 11 months
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Re: Bitcoin: a revolutionary new kind of wealth disparity? [Re: s240779]
#19369544 - 01/04/14 06:06 PM (10 years, 1 month ago) |
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Love BTC and cryptocurrencies in general. Been mining since April and it has definitely helped out with the bills! I gave up day trading though. Not my thing. Now I just hold all coins I mine and sell some when I need money, but the vast majority of my coins will be released in a couple years.
-------------------- Crazy... toys in the attic I am craaaazy
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