Topic: Buying 1 BTC is ‘like owning 60 cars? - page 2. (Read 705 times)
I am willing to pay him 1BTC and please ask him to buy me 60 cars or atleast 60 cars which are in running condition. The comparision itself is stupid thing so just avoid those stupid people's statement like a plague. Maybe in future we can own 60 cars by simply paying 1 BTC until that keep on HODLing.
Francisco Blanch has made some interesting statements with the idea that he wants to destroy bitcoin, which has provoked bitcoin fans!
He has said that bitcoin as a wealth is not suitable for storage and is even weaker in financial transactions than people think.It is only able to process 1,400 transactions per hour, while the visa is processed with 236 million transactions.Francisco Blanch also considers bitcoin biodegradable due to its high energy consumption!
What do you think about it?
Source:https://cointelegraph.com/news/bank-of-america-analyst-slams-bitcoin-buying-1-btc-is-like-owning-60-cars
He has said that bitcoin as a wealth is not suitable for storage and is even weaker in financial transactions than people think.It is only able to process 1,400 transactions per hour, while the visa is processed with 236 million transactions.Francisco Blanch also considers bitcoin biodegradable due to its high energy consumption!
What do you think about it?
Source:https://cointelegraph.com/news/bank-of-america-analyst-slams-bitcoin-buying-1-btc-is-like-owning-60-cars
I mean bitcoin has really progressed throughout the past years, adaptation in bitcoin and even the market price was surely nothing compared to when it was just created.
When bitcoin was 100$ nobody was thinking it will reach 60k$ in the market, for most people it was ridiculous, and now buying around 50k$ was considered a good buy or already a drop.
I mean I wouldn't buy just some cheap cars probably here in my country 1 bitcoin could buy 6 decent cars, but I guess in the future you could do that since bitcoin value is really ridiculously increasing.
it depends also on what kind of cars. We could not look in the future. Cars will always keep some value. it is risky to compare it. Nowadays you have 3 decent cars for the bitcoin value
It's really true depends on the value of the cars when he wants to own a 2nd hand cars then he can easily get those into price range of $1000 to $2000 dollars but when you want a luxury one then you can only own atleast 3 or maybe 1 but we didn't want to because we only looking forward that we want to earn more or i need to make business that can support my self while im living and save some of my money for the future bike can help you too it can give you healthy lifestyle. Buying 1 BTC is like owning 120 cars or even 240 cars, if you know what I mean. Buying 60 cars will give you nothing but mere expenses in the long run while having 1 Bitcoin can give you profits every year depending on the market situation. In short, having Bitcoin is good in the long term as an investment. Don't listen to people who don't have Bitcoin, listen to those who loves Bitcoin and ignore others, their opinions are just garbages.
It is really a nice point of view. Let's say you have 60 cars and 1 BTC both. The prices of cars that you own will not go higher in years (as long as you don't live in a third world country). But you can make a great profit if you HODL. There are still people like this who are totally against Bitcoin and they will always be. I don't also recommend anyone to listen to that kind of ridiculous statements.
it depends also on what kind of cars. We could not look in the future. Cars will always keep some value. it is risky to compare it. Nowadays you have 3 decent cars for the bitcoin value
Just a quick stat on how many posts have understood the 1 BTC = 60 car thingy so far:
N.A. corresponds to posts that are not applicable to the stat, since they do not reference the car comparison. 'No' over 'yes' is pretty much fivefold, something to reflect upon.
In order to get the meaning we need to dive into the article. That being said, the confusion could have been avoided by referencing the context in the OP (since the car/btc comparison is the heading).
N.A. corresponds to posts that are not applicable to the stat, since they do not reference the car comparison. 'No' over 'yes' is pretty much fivefold, something to reflect upon.
In order to get the meaning we need to dive into the article. That being said, the confusion could have been avoided by referencing the context in the OP (since the car/btc comparison is the heading).
Francisco Blanch said the bad thing about Bitcoin was natural because he was a banking person, I'm sure everything Blanch says won't have
a big effect on the development of Bitcoin. Not many people will pay attention to what Francisco Blanch said, he is just afraid Bitcoin is becoming
more and more accepted by many people. Francisco Blanch only looks for the weaknesses of Bitcoin, without comparing with the benefits provided
by Bitcoin. Francisco Blanch's assessment of Bitcoin is not neutral, he is just a person who is afraid of technological advances.
a big effect on the development of Bitcoin. Not many people will pay attention to what Francisco Blanch said, he is just afraid Bitcoin is becoming
more and more accepted by many people. Francisco Blanch only looks for the weaknesses of Bitcoin, without comparing with the benefits provided
by Bitcoin. Francisco Blanch's assessment of Bitcoin is not neutral, he is just a person who is afraid of technological advances.
He has a good point, he is actually right on point because he compared bitcoin's transaction capability to visa. However, he failed to realized that people are not investing on that reality, they are investing on decentralization and they treat bitcoin as a security and store of value than a payment system.
About 1 btc to 60 cars, well depending on the value but cars do depreciate over time while bitcoin appreciates.
About 1 btc to 60 cars, well depending on the value but cars do depreciate over time while bitcoin appreciates.
Buying 1 BTC is like owning 120 cars or even 240 cars, if you know what I mean. Buying 60 cars will give you nothing but mere expenses in the long run while having 1 Bitcoin can give you profits every year depending on the market situation. In short, having Bitcoin is good in the long term as an investment. Don't listen to people who don't have Bitcoin, listen to those who loves Bitcoin and ignore others, their opinions are just garbages.
Well, I think it's important to keep an open mind... Sometimes outsiders will notice flaws insiders don't... If all bitcoin enthusiasts would only listen to other bitcoin enthusiasts, we'd miss a critical view from time to time.
But in this case, yeah, it's garbage
Article main point sounds completly stupid. However, he is right about btc TPS. It just too low
TPS is low, but defenately not as low as written here... When i read (and i quote) "1,400 transactions per hour" in the OP, i completely stopped reading... It's obvious a person making such statements hasn't done his/her homework, or has the sole intention to spread FUD, and i'm not willing to spend my time disproving anything in case an article is written with such blatant errors and utter ignorance.As for TPS, you have bech32 wallets that increase the TPS, you have offchain sollutions (like LN, or non-custodial services), you have altcoins... I'm pretty sure the TOP-20 blockchains would be able to take over most (if not all) transactions IRL if enough off-chain sollutions were to be used, and the on-chain transactions were spread over 20 blockchains.
Buying 1 BTC is like owning 120 cars or even 240 cars, if you know what I mean. Buying 60 cars will give you nothing but mere expenses in the long run while having 1 Bitcoin can give you profits every year depending on the market situation. In short, having Bitcoin is good in the long term as an investment. Don't listen to people who don't have Bitcoin, listen to those who loves Bitcoin and ignore others, their opinions are just garbages.
Francisco Blanch has made some interesting statements with the idea that he wants to destroy bitcoin, which has provoked bitcoin fans!
He has said that bitcoin as a wealth is not suitable for storage and is even weaker in financial transactions than people think.It is only able to process 1,400 transactions per hour, while the visa is processed with 236 million transactions.Francisco Blanch also considers bitcoin biodegradable due to its high energy consumption!
What do you think about it?
Source:https://cointelegraph.com/news/bank-of-america-analyst-slams-bitcoin-buying-1-btc-is-like-owning-60-cars
He has said that bitcoin as a wealth is not suitable for storage and is even weaker in financial transactions than people think.It is only able to process 1,400 transactions per hour, while the visa is processed with 236 million transactions.Francisco Blanch also considers bitcoin biodegradable due to its high energy consumption!
What do you think about it?
Source:https://cointelegraph.com/news/bank-of-america-analyst-slams-bitcoin-buying-1-btc-is-like-owning-60-cars
Destroying Bitcoin? He really believes such thing can be done? It is really hilarious.
Some people still don't want to understand that cryptocurrencies can't be destroyed by anything. And it is a really awkward comparison between 1 BTC and 60 cars.
Article main point sounds completly stupid. However, he is right about btc TPS. It just too low
Francisco Blanch has made some interesting statements with the idea that he wants to destroy bitcoin, which has provoked bitcoin fans!
He has said that bitcoin as a wealth is not suitable for storage and is even weaker in financial transactions than people think.It is only able to process 1,400 transactions per hour, while the visa is processed with 236 million transactions.Francisco Blanch also considers bitcoin biodegradable due to its high energy consumption!
What do you think about it?
Source:https://cointelegraph.com/news/bank-of-america-analyst-slams-bitcoin-buying-1-btc-is-like-owning-60-cars
So are you able to maintain those 60 cars for long term? I don't think Bitcoin can be compared to buying like 60 cars nowadays you need space for it all. Bitcoin will still be the best long term investment and billionaires are now taking part of it. Bitcoin is scarce and future proof.😁 He has said that bitcoin as a wealth is not suitable for storage and is even weaker in financial transactions than people think.It is only able to process 1,400 transactions per hour, while the visa is processed with 236 million transactions.Francisco Blanch also considers bitcoin biodegradable due to its high energy consumption!
What do you think about it?
Source:https://cointelegraph.com/news/bank-of-america-analyst-slams-bitcoin-buying-1-btc-is-like-owning-60-cars
This isn't just the Bank of American, unless they are the ones funding it, but there's a campaign against Bitcoin all around the world.
Of course, it's not just BoA, but I remember them for always being negative about BTC, it's just become boring to read the same thing over and over again - it's something in the sense that if you repeat something 100 times, then it will become true.
In the UK we've got various terrible tabloid newspapers which spout this nonsense all the time, but from time to time I'm seeing this sort of propaganda against Bitcoin on more "reputable" news sites like the BBC. Of course, the BBC are state owned, and you could assume that they would naturally want to report against Bitcoin. However, the BBC although definitely bias, are better than a lot of the miss match news outlets of today.
I didn't notice that my local media wrote too much about BTC at all, there was a lot more at the end of 2017 - even state television had a whole show on the subject, but now there are mostly current pandemics or unfortunately quite devastating earthquakes that have happened in the past year occupy the media space. Maybe it's better that way, because the amount of nonsense that such media wrote on the subject of BTC is something that was really hard to read and hear.
I'm wondering whether there's someone funding this sort of propaganda rather than it being personal view points of each "specialist". Since, I would like to think positive news regarding the Bitcoin price would get more clicks, and grab peoples attention more. However, despite the recent climb in price, I've seen the mention of it being a bubble which will "certainly pop" or like you mentioned the amount of power that Bitcoin miners use....you know ignoring much of what the world uses.
I don't think there is a simple answer to this question - I believe that part of the negativity may even be due to the influence of structures that want to prevent Bitcoin from adapting more than is already the case, but most of the bad things the media serves are in my opinion a consequence of ordinary ignorance. I have personally had very unpleasant experiences when I have talked to people about this topic, from the fact that only criminals deal with such things or to the fact that BTC will destroy the environment more than any other industry.
So far, this is not quite true, but it will happen in the near future.
Depends on the cars one wants to buy 
Lamborghini is still out of sight but you can get a decent Jag with BTC.
Back to the article, the guy's too biased. He should first tell us how much energy consumption goes for the global operations of BoA.
After that we might start talking about BTC.
Lamborghini is still out of sight but you can get a decent Jag with BTC. Back to the article, the guy's too biased. He should first tell us how much energy consumption goes for the global operations of BoA.
After that we might start talking about BTC.
There's a lot of people have that kind of mindset, we can't force them to believe of what we think about Bitcoin. We talk, they don't listen, and there is no way to make them corrected until the time they found it. Or the worse case, they hate at all.
Btw, who's this troll? Another guy who wants his name on the news?
Just another guy from nowhere. That person just coming out and blah blah, I think...we never know him, he needs only attention.
Btw, who's this troll? Another guy who wants his name on the news?
Everyone has its concerns via bitcoin, mostly people that always emphasis negatively concerning bitcoin is the people that is against bitcoin, I could remember that I made.... Stipulating that rich people is against bitcoin, the person emphasising about shutting down of bitcoin is one of them..... Emphasising that buying 1btc is like owning a 60 cars. I disagree with you because it depends the country we are residing because in my country 1btc can not even afford one executive car, shall it depends on the kinds of cars you're emphasising on.
I find the subject of this topic very confusing, reasons being that i don't consider buying btc ( something that can be considered an asset that is,has the potential to appreciate with time) to be like owning 60 cars (something that can be considered a liability, because it's value depreciates with time). The comparison to me simply is not befitting.
That is the reason why it is a FUD to attack bitcoin, they think that bitcoin depreciates in value overtime which isn't true given the price charts for the past 10 years of its life. It really is not befitting because this was supposed to confuse the people which is evident with your reply, they need to make the people hesitate in their decision when it comes to bitcoin. 
This growing argument that Bitcoin is environmentally damaging is stupid. It lacks any context of comparison. In the same vain you can say banking is wrecking the universe. The amount of damage to the environment caused by mining metals and resources to print fiat, producing the fiat, transporting it to the world, protecting it from theft, maintaining a system of connected bank networks and the everyday use of computers and electronic filing adds to a big bite out of the environment. I started to collect the data that could answer this, but I’m too busy to chase this all down right now. What amount of energy does traditional banking use? I bet it is enough to call bs on this argument against bitcoin.
Also, the crypto mining innovations that are occurring around using trapped or difficult to distribute energy are pretty awesome. It’s also still very early in the infrastructure of this emergence. Crypto energy use is going to drop dramatically.
Also, the crypto mining innovations that are occurring around using trapped or difficult to distribute energy are pretty awesome. It’s also still very early in the infrastructure of this emergence. Crypto energy use is going to drop dramatically.
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