Topic: Bitcoin is 'useless as a payment mechanism and ridiculous as a store of value - page 3. (Read 1117 times)
August 22, 2018, 03:01:41 PM
The price of Bitcoin at 2010 was 0,06 $.Without any value.And it still has no value,no big background,no firm behind the project.And it costs about 6000$.You could buy all bitcoins with just 1 mio at 2010 and be the reachest man right now.ATH?Will come again
August 22, 2018, 02:47:30 PM
this is another attempt to manipulate the market does not need to be driven by this
August 22, 2018, 02:42:54 PM
The CEO has not come to term with reality, his disparaging and derogatory comments about bitcoin is just a way of discouraging people, personally I think bitcoin has made online payment easier as a digital currency without any hassle of useless and cumbersome KYC by the so called PayPal and other payment processors I can use bitcoin as a store of value.
August 22, 2018, 02:32:01 PM
isn't this old news? i do realize that the shitty news sits are posting it now but the news itself (the quote) sounds quite old. i remember that Paypal CEO said this exact same thing a couple of months ago...
in other words it seems to me like news sites are running out of FUD to post during drops and are going back to re-posting the same stuff again
lol, this is what we see everyday, bloggers will do anything to get traffic, they don't care to know if the news is an old or not, in as much as it will bring traffic they are good to go in other words it seems to me like news sites are running out of FUD to post during drops and are going back to re-posting the same stuff again
August 22, 2018, 02:15:54 PM
bitcoin price are fall down but ETF are not resposible for this. it is liquidity thats why here anything can happen. bitcoin price will go upward in future. it will make more profit for investor by increasing price more than $8000.
August 21, 2018, 11:11:22 PM
He's biased because as the CEO of PayPal, he is considering Bitcoin as a competitor with his product.
"We've got digital currencies. And we've got digital currencies that are more stable, more widely accepted and have intrinsic value. We've already got it — it's called the dollar, the yen, you name it," Harris said. So doesn't he care about the technology behind Bitcoin - what makes it different from those traditional currencies? Is he scared that Bitcoin will take over the market and PayPal will fail to compete?
"We've got digital currencies. And we've got digital currencies that are more stable, more widely accepted and have intrinsic value. We've already got it — it's called the dollar, the yen, you name it," Harris said. So doesn't he care about the technology behind Bitcoin - what makes it different from those traditional currencies? Is he scared that Bitcoin will take over the market and PayPal will fail to compete?
August 21, 2018, 11:10:38 PM
Fiat money has value because we believe in it and assign it a value. Without the value assignment of users, fiat money just a piece of paper and worth nothing. Bitcoin is the same. If it is believed by many people and those people accept to sell and buy in Bitcoin, then Bitcoin can become a medium of exchange. The value Bitcoin has gained is what it stores.
August 21, 2018, 06:00:54 PM
Well, this is old news. Previously, the CEO of Paypal already said this. Investors and new bees gt panicked when they listen to such news. If the bitcoin was such useless then people would definitely not invested in this. So, it would be better not to listen to this type of news!
August 21, 2018, 05:26:36 PM
Okay, well, this is not new news that the Paypal CEO had said this! His statements only spreads panic in investors and new bees. And if, bitcoin is such useless payment then why people would rush into this to invest? So, it would be wise not to listen about his statements. Bitcoin is itself enough to show how strong it is!
August 21, 2018, 01:18:29 AM
On the other hand, a store of value, high fluctuation in value makes it unsuitable to be a store of value.
How so? I have been using Bitcoin as store of value for years, and it worked out pretty well.
I don't think it has as much to do about fluctuations in value as Bitcoin's track record, or more specifically, its lack thereof. People who have held coins for longer than a year know that Bitcoin can hold its value really well, and that chances are it's going to be even more valuable in the future.
The problem, I think, is that Bitcoin hasn't even existed for a decade yet. I can't blame more traditional people for thinking precious metals are a much better option for storage of value considering the fact that they've been playing that role for centuries. Generations of people have gone that road without encountering any problems. "Tried and tested" typically trump "new and innovative" in cases where you need to wait decades for a result.
Fluctuations themselves shouldn't be too bad at the end of the day, but I imagine they may cause some unnecessary anxiety, so I can also see where that sentiment is coming from.
August 20, 2018, 10:28:40 PM
What is this thread even about?
It's just a bunch of quotes from people who don't believe in bitcoin? Couldn't a thousand threads be created like that if we really wanted...
Spend less time caring what people who don't agree with your world view say, Bitcoin is doing just fine.
It's just a bunch of quotes from people who don't believe in bitcoin? Couldn't a thousand threads be created like that if we really wanted...
Spend less time caring what people who don't agree with your world view say, Bitcoin is doing just fine.
August 20, 2018, 10:22:29 PM
in other words it seems to me like news sites are running out of FUD to post during drops and are going back to re-posting the same stuff again
And that's what they've been doing for quite sometime. They only get news when people say these things against Bitcoin. They spread bad news all over. I'm happy I don't read from them. This forum is my source of news- I decide what to read and what to ignore.
August 20, 2018, 10:12:10 PM
in other words it seems to me like news sites are running out of FUD to post during drops and are going back to re-posting the same stuff again
And that's what they've been doing for quite sometime. They only get news when people say these things against Bitcoin. They spread bad news all over. I'm happy I don't read from them. This forum is my source of news- I decide what to read and what to ignore. August 20, 2018, 10:01:21 PM
Come'on, This statement came from paypal's CEO. As we all know that bitcoin is a threat to all other digital currencies like paypal. Will you expect the creator of paypal to support bitcoin which can definitely be a problem to them. In short this statement is pretty one sided with a conflict of interest. Just read the statement again after he directly told everyone how bad bitcoin can be then at the end promoting his currency (paypal). Pretty smart guy tho
I highly doubt that they have invested into bitcoin.
The question is, how deep mr. Bill Harris is in with his Bitcoin Holding? millions?
I highly doubt that they have invested into bitcoin.
August 20, 2018, 09:53:48 PM
I can show you thousands of expert opinions where they have predicted Bitcoin to rise up to millions of dollars but does that change anything in the market? The answer is no. Famous people like Bill Harris have been sharing their view regarding Bitcoin for a long time now but honestly, I haven't seen any of them become true. So, I would rather trust my own judgement in this case.
August 20, 2018, 02:38:41 PM
I don't know why but seems like Bill Harris is very salty about Bitcoin, either he have made a huge loss out of it or he is secretly holding BTC so that he can make profit out of it once people have abandoned it. Anyways, such opinions carry little to no value rather spreading unnecessary fear among a whole community, it is better if we learn to ignore these.
August 18, 2018, 09:47:43 AM
It is not much succeed as payment method but it can not be predicted that it is moving towards zero.It is widely used as assets .
August 18, 2018, 09:47:33 AM
On the other hand, a store of value, high fluctuation in value makes it unsuitable to be a store of value.
How so? I have been using Bitcoin as store of value for years, and it worked out pretty well.
People think just because of the fluctuations that Bitcoin isn't suitable as store of value, but why would you bother caring about short term fluctuations when the price is bound to increase throughout the forthcoming years? If you park your money in Bitcoin for a couple of years, why are current fluctuations a problem? You are not speculating, you are not planning to use any of it, you just want it to grow as time goes by, that's what a store of value should function as.
Most legacy means of value storage have time on time proven to be unreliable in that aspect. Bitcoin has been and still is the ultimate store of value of this century.
August 18, 2018, 09:44:35 AM
And in all anyone can just say anything they feel especially a negative statement about Bitcoin and honestly it doesn't change the fact that Bitcoin is useful to all.
August 18, 2018, 09:41:56 AM
mark my words, in a short time in the future we will see PayPal adopt bitcoin in one way or another. most probably (if they are wise) they will start letting people add bitcoin to their PP wallets and turn it into fiat and vice versa, or (if they are not wise) they will start making PP into an altcoin and fail.
but they will get involved eventually because they are seeing how their business is losing its grounds slowly but surely to bitcoin.
This is what is happening and these companies will start accepting bitcoin in the future even though they can bash anything they want now because it is affecting their business model and if they do not adopt they will go out from business in a short time . We will hear from company owners who are directly affected by bitcoin and the entire market. but they will get involved eventually because they are seeing how their business is losing its grounds slowly but surely to bitcoin.
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