Topic: Bitcoin is neither a currency nor a store of value ! - page 4. (Read 1809 times)
Any currency can depreciate in the event of a disaster or bad news. According to your version, it is better not to try to make money with the help of modern technologies, because this is fraud
Sometimes, I wonder what people seeks to achieve by wiping up unnecessary sentiments on things that have been settled even before a lot of us came to know about bitcoin. And all those disadvantages OP is itemizing are even some of advantages in which is keeping a lot of us glued to bitcoin.
1. Bitcoin is not a currency.
Yet a lot of companies have started accepting as a medium of exchange with several others planning to activate and join the league of those who can see the future and want to be part of it.
2 Bitcoin is not a store of value.
Yet I have not seen any investment that would turn out what it has done in the past 5 years not even the real estate business have turn out much and the most interesting is that, the return went to the individual rather than conglomerates that would pay investors pennies in the case of other lines of investment.
Whether bitcoin is scam or not, its meant for the future to decide as well as the general population of the community.
1. Bitcoin is not a currency.
Yet a lot of companies have started accepting as a medium of exchange with several others planning to activate and join the league of those who can see the future and want to be part of it.
2 Bitcoin is not a store of value.
Yet I have not seen any investment that would turn out what it has done in the past 5 years not even the real estate business have turn out much and the most interesting is that, the return went to the individual rather than conglomerates that would pay investors pennies in the case of other lines of investment.
Whether bitcoin is scam or not, its meant for the future to decide as well as the general population of the community.
Cryptos/bitcoin are the new form of currency and people should understand that its volatility is the way it is designed which makes it unique. If it drops down, you wait for it to go bullish to take your turn. Is a store of value.
In reality bitcoin is more of store of value than any others system in history. Bitcoin cannot depreciate every others store of value depreciate. Bitcoin is not a scam and we should not see it as such as bitcoin has never defraud any person as a system.
It is currency, I can pay my bills using it if I want to, I just prefer to convert is first. Yes, because of that volatility. Also why it can't be considered a surely secure store of value, at least if you want the value to stay the same. Still, even with fluctuations, it still does go up.
It'll only really stabilize once it's all mined out. And do you even know what a Ponzi is?
I agree, for me its a currency becauae I can used it to buy things that I Want and need in my life. But yes we need to convert it first into fiat because only few accepts it as rule of payment. Also because still it was not fully legalized by the government. You can also used bitcoin as a store of value the fact that its value was not stable and it changes every single which can give you more profit as the price continue increasing. It'll only really stabilize once it's all mined out. And do you even know what a Ponzi is?
The fact that there is a strong consensus against my comment is a good sign that Bitcoin is a pyramid scam. When you cannot find new people to join the party then the party will end and it will hurt badly.
If you want to understand what a currency should be then read Hayek.
Bitcoin is a world wide web cellular automata burning real people money in order to survive.
If you want to understand what a currency should be then read Hayek.
Bitcoin is a world wide web cellular automata burning real people money in order to survive.
So euhm, I c you're a new user. You are probably just doing this to lower the price of bitcoin and let people overthink. I don't really think you're worth to get an explanation of this.
Bitcoin is not a currency.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
* First two sentences are correct. HIGH Volatile nature of bitcoin made it a lesser currency and much of investment instrument. Next lines are of pure non-recyclable garbage value. You admit that So called Central bank gurus screwing this world royally. Just because they have maintained inflation within boundaries does it give permission to screw entire society? No, it does not.
* Bitcoin as a crypto-currency is a store of value. And does not have to yield any dividend like gold, silver because bitcoin is a CURRENCY and currencies do not yield dividend. Investment instruments like stock, real-estate, commodity, fixed deposites etc yield dividend. Get your basics clear before sharing an opinion.
* Bitcoin is not a pyramid scam. You have shown your level of ignorance by concluding bitcoin as pyramid. First read and understand what is a pyramid scam, then understand what is crypto currency.
* Stop creating spam threads.
Bitcoin is not a currency.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
sounds like opinion of the man, who didnt get "on train" in time and now very sad about that
Bitcoin is an asset where bitcoin differs from other assets is that it does not have an underlying use. One can invest in jewelry or gold, for instance. Bitcoin, by contrast, is used to hide wealth, conceal illegal transactions and to trade in order to gain or lose value.
The goal of any currency is to maintain its value constant at least on the short term for the people who are using it and Bitcoin cannot achieve this with a fixed quantity of tokens. You can call it a collectible item like stamps or trading cards or consider it as some form of cybernetic art but please don’t call it a currency!
It is also not a store of value as it doesn’t produce useful work. No work = no dividend = stay away from it!
What is the reason behind your FUD? It is also not a store of value as it doesn’t produce useful work. No work = no dividend = stay away from it!
If you don't like it don't use it.
I’m not an anticrypto, I think Bitcoin is a great experiment but a failed one and hopefully we can design a proper crypto currency.
It looks like you are against crypto, seeing bitcoin as failed experiment while it is used worldwide as payment method and more countries are accepting it.
Did you create the account just to FUD? are you new in the forum or just created an alt account to bring value down. Some will actually thank you for that, if they get cheaper coins.
As being a pyramid. Everything is. That modern banking system. Huge pyramid that as to adjust from time to time.
As being a pyramid. Everything is. That modern banking system. Huge pyramid that as to adjust from time to time.
Good for you as that is your own opinion which we both know you are trying so hard just to paint bitcoin black. Waste of space! 2 activity, 2 posts and that is the first thing you came to this forum just to drop ?
You are sure really doing a good job all over the internet to drop the price for your own good. It is working as gullible people are falling for it.
I think bitcoin is now famous enough that we can believe in it that someday the price of the bitcoin will be high enough and now no one can paint bitcoin as black money the circle of the bitcoin is getting more and more huge a lot of people are using bitcoin for the source of income so there are a lot of positive features of this currency has and it is increasing the more resources.You are sure really doing a good job all over the internet to drop the price for your own good. It is working as gullible people are falling for it.
Well you have the right to an opinion but I do think you are wrong. The only reason bitcoin is so volatile right now, is because it is still in it's early days. Bitcoins are still far from it's limit cap, and it's slowly being bought as users get to know it, and trust the network and the community. Once it gets mass adoption, it's price will no longer float like this. As for it's value, it couldn't be more transparent than it is. Since it has a limit, it will only be regulated by supply and demand, so if people recognize it's value, then you can't really deny it. If at some point users decide that they don't want bitcoins anymore, and decide to sell them, then it's value will drop. But that is not a scam, that is just reflection of the true value people confer to BTC. If they trust it however, I don't know why they will do that, so I think it will perfectly work as a currency. People confer it value, and trade it for other goods.
If you say that right now it's not practical because it's volatile, and you pay high fees to buy just a cup of coffee with it, then I agree, but that will change with the lightning network.
As for a store of value, I really think you are wrong. Right now, I think this i the best function for bitcoin. A store of value is the purpose of an asset that can be retrieved, saved and exchanged at a later time because it holds purchasing power. Bitcoin actually shines here right now in my opinion. You need to mine it, and it cost money to do so, you have a limit cap, and planed halves. They will get more and more difficult to get, will require more work to be mined, so as it's demand increases, it's value will increase as well. This looks to me like a good store of value.
Finally bitcoin will actually get the best of both worlds, (precious metal and money), because they are limited and have value (like gold) and will be easy to exchange and trade for common goods (like money).
I totally agree with your opinion buddy. To think that bitcoin was just starting and not yet even reaching from its cap, there have been so many speculations to what might happen next or in the next few years that will come, but still nobody is really certain to what will be happening next in line. Its because it is only limited and important, many would do anything just to have a piece of those coins, or maybe this will cause a big ruckus in the future, specially those who have lots of those coin. If you say that right now it's not practical because it's volatile, and you pay high fees to buy just a cup of coffee with it, then I agree, but that will change with the lightning network.
As for a store of value, I really think you are wrong. Right now, I think this i the best function for bitcoin. A store of value is the purpose of an asset that can be retrieved, saved and exchanged at a later time because it holds purchasing power. Bitcoin actually shines here right now in my opinion. You need to mine it, and it cost money to do so, you have a limit cap, and planed halves. They will get more and more difficult to get, will require more work to be mined, so as it's demand increases, it's value will increase as well. This looks to me like a good store of value.
Finally bitcoin will actually get the best of both worlds, (precious metal and money), because they are limited and have value (like gold) and will be easy to exchange and trade for common goods (like money).
Bitcoin is not a currency.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
You're wrong on all 3 your statements. You need to understand that bitcoin still only has a marketcap of 100 billion dollars. It will become stable once we hit 1 trillion dollar cap. You should do more research and you will find out you're wrong on the other point as well. It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
I don't agree with your submission that bitcoin is neither aaa currency nor a store of value, this is because I believe that bitcoin serve as a digital currency and as a store of value over time.
Do we really need a newbie account to tell us that bitcoin is a scam. And really, a pyramid scam? Do we recruit anyone to join bitcoin? This is a failed attempt to bring bitcoin down.
Its not actually a thing that could able to take bitcoin down knowing that hes not the only one who do say that bitcoin is a scam but there are lots of famous people did really say such thing but eventually it didnt really make some effects. Bitcoin isnt a scam and now its standing for 8 years already and lots of people did make huge money on it and even become millionaires.How this thing become scam?
Do we really need a newbie account to tell us that bitcoin is a scam. And really, a pyramid scam? Do we recruit anyone to join bitcoin? This is a failed attempt to bring bitcoin down.
This is my insight, full of common sense and precious intelligence. BTC arose from nothing, maybe a lot of anger and angst, but nothing much. And it became this, this monstrosity eight years later. Bless SN. Think, if tomorrow it ALL died, then after a few stunned days, won't it come back again? The seeds in people's minds and hearts are still there, even more so now. The internet, cheap electricity, is still there. Come, don't you see that only by taking down the internet can BTC die? It may fade and transfer its life force to another, but the idea and the execution is out. Take my wisdom and internalize it. This, this thing can only grow and metamorphosize, thorium reactors/ big data/ cheap storage/ etc will feed it until Elon Musk is right, and we evolve out of our carbon-based forms into new silicon-based life, complaining and FUDing all the while, just as the apes did when sapiens arose.
Bitcoin is not a currency.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
Seriously? You are on a bitcoin forum and you do say such thing on bitcoin itself? Then I would say all people here would really oppose on the things you do said on here.No one says that bitcoin is a currency but its a digital currency which do have a new way payment innovation and its not a store of value but I would say that Bitcoin isn't a scam.Let me tell you,is there a scam that would able to give you money? Opportunity is here but we wont really rely on it too much since we do know the risk. It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
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