My challenge to bitcoin - page 2. | Bitcointalksearch.org

Botnake

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Quote from: mrtryonebiggums on January 23, 2018, 12:38:23 AM

You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.

I agree bitcoin does not need support from the institution or anything. Many people adopt and trust bitcoin because the payment system is very safe, easy and capable of acting as a global currency.

Without institution money we will know grow, currently we are in the stage of development now and soon the market will be regulation.
Trump just announce that he does not like Bitcoin and crypto, that's a good sign that the market is growing, and because we are getting their attention that means they are monitoring the crypto space and I expect soon there will be a fair regulation for the good of the market.

fiulpro

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You know , actually most of the currencies we know about are somehow backed up by something valuable or are based on the economy of the particular country , but when it comes to Bitcoins I think it's the time to shatter most probably the already made assumptions about a Currency , it is actually dependent upon the investors which inturn makes it very volatile which is a good factor for all the traders now.
I think somehow it is also essential for the economy, we have everything , we have gold , dollar , a Currency backed by valuable assets ...I think we need this too.

Naida_BR

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

I am trying to find a way of connecting your thoughts.
I agree that the us dollar is fulled from debt as banks give loans to people that would buy houses, cars etc, and when people are not able to pay back their loans they take their houses, cars x2. But how is that connected with Bitcoin? Bitcoin has nothing to do with banks' activities.

imstillthebest

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Quote from: iMark on July 13, 2019, 10:29:06 AM

Quote from: mrtryonebiggums on January 23, 2018, 12:38:23 AM

You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.

Yeah you should know from the start, that bitcoin is not backed up by anything, there is no government support, developed economies, or the state. it's a challange for bitcoin itself, and the proof is that bitcoin is a respected currency with its innovation, bitcoin is the world's most expensive currency right now!

if btc is not backed by anything then why do you think that it existed and its value is growing ? that only means that btc is backed by its devs and its also backed us supporters and investors .

@op you dont like btc , but your making complaints about usd/fiat ? so what do you really want ? i already state that btc is backed by people same as fiat but btc is just better than fiats imo

iMark

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Quote from: mrtryonebiggums on January 23, 2018, 12:38:23 AM

You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.

Yeah you should know from the start, that bitcoin is not backed up by anything, there is no government support, developed economies, or the state. it's a challange for bitcoin itself, and the proof is that bitcoin is a respected currency with its innovation, bitcoin is the world's most expensive currency right now!

Nhebu

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Quote from: trecore4 on January 27, 2018, 11:57:52 PM

Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

This is way lot confusing post. I tried to read it thrive in real with my eyes wide open. I believe you don't like bitcoin at all because you think that there is no competition of your USD with the bitcoin in terms of how they are backed up with different assets. Agree on that but it's not completely true. The way it seem easier to manage all those backed assets, but it's not the case in reality. The banks work on the principles of liquid money and it flows multi direction all the team. While on the other hand bitcoin is unidirectional and it just work on the principles of peer to peer transfers. The backing doesn't really matter here because what bitcoin has got is the money that we are pushing into it.

That's my understanding about it. There might be no comparison between to as they have different principle of working.

The OP did not like bitcoin. He stress out how bitcoin differs from fiat currency. Well, in my opinion, how could a fiat get its value just through its backed up assets? Bitcoin becomes valuable because of its usage. It helps the economy also to have a fast and vast transaction. Making a unitary money policy is good at some ways also. So, why do we need to hate this new innovative currency, if it can be a substitute and will be used for a long term purpose?

Nkblix

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MY CHALLENGE TO BITCOIN ? IS THAT IS NOT YET REGULATED ,ALSO FULL OF CHALLENGES, SOME SEE IT IN A DIFFERENCE PERSPECTIVE.

Globalbitcoinl

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bitcoin can also become a currency of debt, as many lose money and enter into debt in order to buy bitcoin. and this is not good

usorin

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

And where is the challenge in your post? Perhaps i have missunderstand the title of the topic.

jonatuzc

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Quote from: nur rochid on October 17, 2018, 10:51:20 PM

Quote from: nealdlover on October 17, 2018, 12:36:29 PM

BTC is always a big challenge in today's trading market. With the speed of technological development has made the BTC more and more known. By participating, we have to understand the rules and follow the rules, understand the market today and it will be the money that brings you the most profit possible.

even though it has a big risk, but with bitcoin can generate huge profits too. do not follow your will, but follow market flow that occurs, so you will remain profit consistent

Everything in life is a risk and what is important as an individual is to understand the risk, analyze it and make decisions that would favor you at the end. That is the challenge I believe most people have as they find it difficult to even get used to their own environment in the first place, let alone, be able to even say they have the ability to be able to manage any risk at all.

Even if you want to do normal business in the real world, you will need to familiarize yourself with the things around that business, know all you need to and that would guide you in the decisions you end up making.

upsidedown75

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Quote from: maculeth on October 17, 2018, 10:57:03 PM

you are right, but how does the dollar manipulate the currencies of other countries with increasing inflation against the exchange rate against it? bitcoin comes as a solution to overcome it all. the country where inflation is even hyperinflation which makes the exchange rate against the dollar weak, can use bitcoin because the exchange rate of bitcoin is global!

Well, we can see something like that happening in some parts of the world already with the trade war declared by trump which is actually affecting the economy of some of the African countries. However, this is not about USD on its own, it is simply about most of these countries, as they simply do not have what it takes to be able to stand on their own without being too dependent on the use of dollar.

Considering high level of importation than exportation which would require a whole lot of USD to make transactions, and so many other reasons that would put pressure on the economy, which is why industrialization in most places would help.

rickadone

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

You are wrong about the part that dollar is backed by a government and a country and not banks.
Yes, banks are a big part of the dollar value however government is a bigger part of it. When america gives china or whoever papers that states they will pay their debt it has a value. Would you loand 1 trillion dollars to USA or to Venezuela right now ? I would highly think you would definitely prefer giving money to USA instead of most other countries.

Yes, UK seems like a better place to give your loan, yes France might be close, Germany definitely is a good place to loan as well (not like they would need it) and so forth but USA is high on that list. Which makes dollar valuable, plus all the oil trade is done thru dollar which means people all around the world need dollars for the oil trading, oil people get paid in dollars and buyers pay in dollars so that creates a demand for it as well. Combine all of this and you get yourself a not so bad currency.

Of course, you can still prefer euro or sterling but dollar will stay top 5 currency for a long time to come until USA starts to default on their debts which I doubt will ever happen.

sinkfish

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Quote from: chowderhead1976 on November 28, 2017, 02:06:00 PM

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

bitcoin backed by money from all around the world. not only USD. the only way bitcoin fail is the world economy fail all together.

genuin

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USD will get worse and worse, btc is present for the bad alternative of the USD and increasing debt that is charged to everyone. We must realize that we follow the system made by the authorities. There is nothing we can do except follow the system.

maculeth

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BountyMarketCap

you are right, but how does the dollar manipulate the currencies of other countries with increasing inflation against the exchange rate against it? bitcoin comes as a solution to overcome it all. the country where inflation is even hyperinflation which makes the exchange rate against the dollar weak, can use bitcoin because the exchange rate of bitcoin is global!

nur rochid

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Quote from: nealdlover on October 17, 2018, 12:36:29 PM

BTC is always a big challenge in today's trading market. With the speed of technological development has made the BTC more and more known. By participating, we have to understand the rules and follow the rules, understand the market today and it will be the money that brings you the most profit possible.

even though it has a big risk, but with bitcoin can generate huge profits too. do not follow your will, but follow market flow that occurs, so you will remain profit consistent

nealdlover

member

Activity: 345

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BTC is always a big challenge in today's trading market. With the speed of technological development has made the BTC more and more known. By participating, we have to understand the rules and follow the rules, understand the market today and it will be the money that brings you the most profit possible.

Tecmessa

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I think that currency or cryptocurrency has a faster exchange rate than gold. However, not all countries accept cryptocurrency as a normal exchange.

breathlessz

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Trphy.io

Quote from: LieTOme on October 17, 2018, 01:55:17 AM

Quote from: Agaton on January 22, 2018, 10:23:32 PM

Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.

the challenge of investing in crypto currency is the risk itself if we can get past the risk that we will get, of course it goes through the challenges given to the investment through challenges with confidence and patience

think the toughest challenge is personal self. with high price fluctuations, of course it is not uncommon to become greedy, or panic because prices decline. so it needs to be psychologically strong to join

LieTOme

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Quote from: Agaton on January 22, 2018, 10:23:32 PM

Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.

the challenge of investing in crypto currency is the risk itself if we can get past the risk that we will get, of course it goes through the challenges given to the investment through challenges with confidence and patience

Topic: My challenge to bitcoin - page 2. (Read 1629 times)