My challenge to bitcoin - page 6. | Bitcointalksearch.org

brainryan

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Quote from: chowderhead1976 on November 28, 2017, 03:06:00 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.
https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin is so different from the rest of the currency that is circulating in the contemporary times. Your point of view is "do not like bitcoin" showing the domination and conservatism of negative-minded thinking. Not necessarily the existence of the US dollar is just a dominance and represent the economy and strength of a country. It is also a unification of positions related to politics and alliances.

Pelevelyl

newbie

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Everything is normal, you are not mistaken in anything, with the dollar will be fine, as well as with bitcoin.

osh5

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Bitcoin is completely independent based on block chain technology. Fiat money fluctuates and Government decides on the expenditure fields for it. Also sole authority is responsible for the printing of the dollars. On the other hand Bitcoin is independent of all such things and not to mention the transactions made through it are so much less in fees and helps to reduce overall costs.
You have the right to say your choice but sill if you look carefully Bitcoin has far more qualities than flaws.

sserge009

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Still not fully up to the end on which the bitcoin is developing. Because of the hype in the past year, the accent in crypto has shifted towards trading, but the situation may still change. Bitcoin has all the attributes that would become the world's new currency standards.

gabmen

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CryptoTalk.Org - Get Paid for every Post!

Quote from: Dewao on May 01, 2018, 07:25:38 AM

Quote from: bengsabeng on May 01, 2018, 03:07:48 AM

Quote from: horrifiedx1 on April 30, 2018, 11:57:15 PM

Quote from: Bugsbey on April 30, 2018, 08:49:39 PM

Quote from: ladydark on January 23, 2018, 02:04:57 AM

I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.

Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.

indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases

bitcoin in my country is still not officially legalized, I wonder what the reason the government still has not legalized bitcoin. whether there will be a negative impact from the bitcoin legality?

Well all I can see the reason why other government still didn't legalized bitcoin is because of scam, there are a lot of scammers that use the name of bitcoin just to get money from others.

Well that goes to show that bitcoin or crypto, will make it well through to the future. People will realize that potential of crypto and now is just thr beginning. The more awareness spreads, the people will shift to something that gives them control over their own money. Governments and banks are afraid of this but it's inevitable

Markyway88

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Quote from: Agaton on January 22, 2018, 11:23:32 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.

With those bright sides I found in this thread, I saw a little dirt of it. Please stop spamming the forum by replying an idea that does not relevant to the topic. It is too much obvious that your reply is really far from what the OP wants to convey to us. The OP talked about why he did not want the bitcoin and not the bitcointalk.
For the OP, I can't see also a connection between what you said in your video in your topic. I believe that bitcoin is much better than dollars. Dollar inflates time per time and the worst, the price moves down and never bounced back unlike with bitcoin. You should not underestimate the bitcoin because even dollars (one of the strongest currency in the world) has downturn.

Dewao

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Qravity is a decentralized content production and

Quote from: bengsabeng on May 01, 2018, 03:07:48 AM

Quote from: horrifiedx1 on April 30, 2018, 11:57:15 PM

Quote from: Bugsbey on April 30, 2018, 08:49:39 PM

Quote from: ladydark on January 23, 2018, 02:04:57 AM

I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.

Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.

indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases

bitcoin in my country is still not officially legalized, I wonder what the reason the government still has not legalized bitcoin. whether there will be a negative impact from the bitcoin legality?

Well all I can see the reason why other government still didn't legalized bitcoin is because of scam, there are a lot of scammers that use the name of bitcoin just to get money from others.

carlisle1

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Quote from: chowderhead1976 on November 28, 2017, 03:06:00 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

Where's the connection about 'whats you dont like about bitcoin'?maybe its better to change the topic on what i hate from you,since youre a critic of your own..criticism is normal in the sense that it's helpful but about that video?well i dont see anything so better stop you're criticizing and focus on your studies lol

charlotte04

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Quote from: chowderhead1976 on November 28, 2017, 03:06:00 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

As I see the government will try to print as many fiat as they can and that would lead to a global disaster someday.

Jonsnowstark

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Activity: 364

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The only difference between bitcoin and the US dollar is that the US dollar as you said is backed by debt while bitcoin is backed by the law of supply and demand. The more people wants it the more price goes up. The lesser the supply there is, the more the price will zoom up. The US dollar supply is not limited, they are controlled by the central bank and the government.

bengsabeng

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Activity: 742

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Quote from: horrifiedx1 on April 30, 2018, 11:57:15 PM

Quote from: Bugsbey on April 30, 2018, 08:49:39 PM

Quote from: ladydark on January 23, 2018, 02:04:57 AM

I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.

Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.

indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases

bitcoin in my country is still not officially legalized, I wonder what the reason the government still has not legalized bitcoin. whether there will be a negative impact from the bitcoin legality?

Panpan66L

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Bitcoin not dead, always some people will find a way to get profit from this cryptocurrency. Someway. Somehow. Always.

miroslavt

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It is not very surprising that some people are not able to digest the huge price value of bitcoins as the concept is still new. With time, people will start believing it more.

deisik

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English ⬄ Russian Translation Services

Quote from: chowderhead1976 on November 28, 2017, 03:06:00 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

A short answer is as follows:

Gold is a limited resource while fiat money can be created at will. So there are drawbacks with both gold and fiat in this regard. A limited resource (so-called hard money) can become more or less limited tomorrow independently from what monetary authorities think appropriate but fiat money is prone to excessive printing by these authorities as well. Technically, you can't equal these two forms of money in terms of their backup, though I partially agree with you that fiat is sort of backed up by debt (to a degree). The problem is when governments go nuts about printing more money, then this backup fails terribly. It is like miners discovering a Manhattan-sized gold nugget

horrifiedx1

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Quote from: Bugsbey on April 30, 2018, 08:49:39 PM

Quote from: ladydark on January 23, 2018, 02:04:57 AM

I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.

Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.

indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases

Bugsbey

newbie

Activity: 182

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Quote from: ladydark on January 23, 2018, 02:04:57 AM

I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.

Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.

19spawnfeed

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Quote from: gamalzour on March 03, 2018, 01:21:34 AM

Dude what I have to say to you is that all you have said now makes no absolute sense. Yes, it makes no sense to me at all. What do you mean the US dollar is a debt backed currency, do you even think at all before saying all these nonsense. Money is a medium of exchange and if it’s backed by debt, then what is that debt? Explain what you mean by debt and how the US dollar is being backed by debt. Do you even know the meaning of debt, cause it seems like you don’t. Yes, I like Bitcoin but that doesn’t mean I should be saying rubbish.

My most challenge in bitcoin on how to prevent negative trust, if you got negative trust it's hard to apply in all types of campaign because no one would trusted you. My other challenge in bitcoin is too hard to get merit because I'm at developing stage in terms of quality post. I use my patients until I've learned more about bitcoin.

gamalzour

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Dude what I have to say to you is that all you have said now makes no absolute sense. Yes, it makes no sense to me at all. What do you mean the US dollar is a debt backed currency, do you even think at all before saying all these nonsense. Money is a medium of exchange and if it’s backed by debt, then what is that debt? Explain what you mean by debt and how the US dollar is being backed by debt. Do you even know the meaning of debt, cause it seems like you don’t. Yes, I like Bitcoin but that doesn’t mean I should be saying rubbish.

jefbigbob70

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Quote from: cpfreeplz on January 28, 2018, 01:03:05 AM

Bravo. A debt backed currency. I 100% agree. Now are you trying to make this sounds like a good thing? Because in reality it's a clusterfuck in a hurricane. Nothing will ever survive by having more and more debt as time goes on. You can only print so much money until your currency and debt is completely worthless and you get liquidated. Maybe you should switch over before that happens. Either way idc, I'm in. If you don't understand it then we'll just see you in 10 years when you have to understand it to survive.

My 5 cents: that if the government sharply reduces its debt with the help of high inflation, bitcoin can not have this.

Polipog

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The person made on this particular question is not totally believe on bitcoin, and they mentioned and talking about U.S dollar as a debt back currency. Well sounds like good. But talking about the value, bitcoin is more higher compare to U.S dollar and what is wrong that someone did not believe the life cycle of bitcoin as the number one cryptocurrency around the world.

Topic: My challenge to bitcoin - page 6. (Read 1593 times)