Topic: [VIDEO] Bitcoin is like a token of Trump's bankrupt casino - page 4. (Read 488 times)

Cryptocurrency and more especially bitcoin make human being rich base on individual perception and it's strategies to carry on it's primary function's, so to be rich via anything you adventure into is base your plan A and plan B towards the stuff and more especially your engagement, your determination, your decision, everyone is licensed to secure profit in cryptocurrency industry, which can equally i another means called richness.

That's the problem I've had with a lot of people. Bitcoin was originally made to just serve as a store of value and not even as an asset that would yield returns or profit. Rather, it's supposed to just be like a global currency for citizens of the world to use but the volatility has given people different perceptions about it enough for them to forget the original purpose and it's bad. Bitcoin != Lottery.

Bitcoin does not make everyone rich, but there are people who made a fortune because of bitcoin, well, personally I'm thankful I was able to invest on bitcoin early as it makes me profitable and was able to cash out. For some people who invested and got easily panic, it's the right definition for them, but they cannot blame it on bitcoin but on their actions, lack of knowledge resulted in weak hands.

None of the above i shall say.

Bitcoin isnt something a lottery ticket since we arent doing gambling on here on putting at stake to make lots but rather this is mainly focused on p2p payment system which is totally decentralized.

Earning money or profits is just a bonus and this is a wrong main perception of those people who dont know even with the basics on why Bitcoin exist on the first place.

Centralized and decentralize which they are totally different and to those who do support BTC do knows on whats the reason.

Maybe for the users who invested long back and cashed it out at the wrong time it seems like a losing lottery ticket. For the present day investors it isn't the right statement, because now people get into the investment with perfect understanding about the market. Earlier everything is made out of some sort belief and on random choice. So, we can't be judgemental on bitcoin as a losing lottery ticket. As of now it is the winning lottery ticket for everyone.

Just from your poor grasp of how Bitcoin works, it is definitely not even worth checking out the video. Bitcoin at it's heart is a currency, it is a currency whereby one unit is currently worth around 50,000 dollars when converted via an exchange or peer to peer transaction. You might not like that fact, there may not be much logic behind why so many people put such a high value on this particular currency, but it is the present reality that we live in. Currency is just a store of value. As we see with El Salvador, who have made it legal tender (AKA redeemable) what you have said is untrue and the pace is going against you every day. It feels like you either sold out too early or are just jealous that you missed out on the huge gains it has made since inception.

You gave the opinions about some points not related to this topic. Watch the video. I don't know what you are talking about.

That's trading not redeeming. The later is when the issuer of an instrument withdraws it out of circulation and pay redemption value in the process. Watch the video.

Bitcoins are redeemable. I just redeemed some bitcoins for plane tickets.

The fundamental difference between dollars and bitcoins is that bitcoins are scarce and energy must be consumed in order to create them, while it costs nothing to create an infinite number of dollars.

Not really for sure. I do think there is a lot of definitions that you are ignoring themselves right by now. Lottery tickets are unexpected, sudden, not even as a further as well. Bankrupt casino?? I don't really think it works like this for sure. You have to do research on it for sure.

Redeemable ?
I do not think that might work out the way you would have expected it to, since nothing is non redeemable you have to work hard for it hands down. It's the same for both traditional currencies and cryptocurrencies as well.

https://youtu.be/p37Wg6h2PJ4

The linked video explains the difference between traditional financial instruments and bitcoin. Both traditional financial instruments and bitcoin are essentially numbers stored on some media. Either on plastic, paper, metal or digital. However, there's one huge difference between the two. Traditional financial instruments are redeemable by the issuer. Meaning, the issuer withdraws instrument units from the market, and in the process pays the redemption value to the holders. Once the units are withdrawn they ceased to exist. New units are then created again, and the whole process repeats itself. Also, a fixed or expected redemption value is what we use to determine whether a particular market price of an instrument is cheap or expensive.

On the other hand, bitcoin is not redeemable by their issuers. The issuers of bitcoin never withdraw its units from the market in order to pay something to holders, which is why bitcoin has zero redemption value. What that means is two things. First, any price of bitcoin above zero is infinitely expensive (price of bitcoin devided by zero redemption value gives infinity). Second, bitcoin is similar to a losing lottery ticket, to a stock of a bankrupt company, to a currency of a former county or to a casino token of a bankrupt casino. That's because, all mentioned instruments are numbers on some media, but their units are not redeemable by the issuer. Just like the bitcoin units are not.