Official Bitcoin & Cryptocurrency Discussion Thread

[Sugar Adam Ali]

The price will rise because its a superior form of currency that can't be controlled by any government. Unlike fiat money there is less ability to "pull money out of thin air" so unlike the USD where they are lowering the bottom of what you can buy year after year in crypto we are still trying to find the ceiling of how much a Bitcoin or various altcoins are worth.

And lol at you still talking about the stock market. If you wanna compare crypto to anything it'd be more accurate to compare it to forex trading for future reference.

Lmao at “crypto a Superior form of currency”


So if it’s the superior currency, and a bitcoin is worth 20k, can I go buy a car worth 20k with one bitcoin?


Can I go buy goods at Walmart or amazon with my alt coins?


Tell me where I can spend my superior currency at

[Eff Pandas]

I will tell you what crypto is worth- whatever any idiot is willing to spend on it,

And $1 USD is worth whatever any idiot is willing to sell you $1 USD of sh^t for, which is always changing as the USD loses value.

Thats sorta how currency works. When a country has no faith in their currency its worthless. When they do have faith in it its not worthless.

The whole concept of currency is shakier than people wanna believe.

Money isn't THAT f#cking unique a thing like people seem to wanna believe. There are over 150 different accepted versions of currencies right now across the planet. Why can't currencies be created without a country behind it? Whos to say what value any currency should or shouldn't have?

[Sugar Adam Ali]

And $1 USD is worth whatever any idiot is willing to sell you $1 USD of sh^t for, which is always changing as the USD loses value.

Thats sorta how currency works. When a country has no faith in their currency its worthless. When they do have faith in it its not worthless.

The whole concept of currency is shakier than people wanna believe.

Money isn't THAT f#cking unique a thing like people seem to wanna believe. There are over 150 different accepted versions of currencies right now across the planet. Why can't currencies be created without a country behind it? Whos to say what value any currency should or shouldn't have?

Lmao...


Explain how crypto isn’t fiat?

What is it backed by?


And the currencies around the world are backed by economies



What is crypto backed by?


Bitcoin has about as much value as my e-points on boxingscene..

[Sugar Adam Ali]

And $1 USD is worth whatever any idiot is willing to sell you $1 USD of sh^t for, which is always changing as the USD loses value.

Thats sorta how currency works. When a country has no faith in their currency its worthless. When they do have faith in it its not worthless.

The whole concept of currency is shakier than people wanna believe.

Money isn't THAT f#cking unique a thing like people seem to wanna believe. There are over 150 different accepted versions of currencies right now across the planet. Why can't currencies be created without a country behind it? Whos to say what value any currency should or shouldn't have?

Lmao... and that’s why nobody invests in dollars..


Have you ever heard of anyone saying, I invested and bought a lot of shares of dollars today.

No you don’t..


But you do hear about idiots paying 17,000 for a “currency” not backed by any economy, and not being able buy anything with it.




Please explain how crypto is a “superior currency” and how it’s price will continue to go up

[Eff Pandas]

So if it’s the superior currency, and a bitcoin is worth 20k, can I go buy a car worth 20k with one bitcoin?

People have bought cars & other random items. Some cat purchased a car with a alt coin a couple weeks back. It was in the news.

The thing with buying stuff with a currency that still hasn't found its ceiling is you are throwing away money by doing that. BTC has went from 6/10ths of a penny to $18k in 7 years. Mfers far more intelligent then me are saying its full value is between $500k-$1M a coin. So if I'm buying a car for 2 BTC ($20K) today I might have loss $1M-$2M in eventually BTC value in 4 or 5 years.

Its sorta the opposite of USD money which is losing value. If I buy something today for $20k it might cost $25k next year so I saved 5k or my money was worth 5k more a year ago one could say. BTC is going the opposite way (despite all the "sky is falling" "btc is a ponzi" talk cuz of the latest drop, BTC is STILL up 400% over the last 6mos lol).

Can I go buy goods at Walmart or amazon with my alt coins?

Amazon probably will at some point. Some online retailers accept it. It wouldn't make sense to allow it in bigger chains yet because its not THAT widely distributed.

[Eff Pandas]

Lmao... and that’s why nobody invests in dollars..

Nothing as much fun as the guy who thinks he knows everything despite asking "wut dis bitcoin thing I don't git it" 3 or 4 months ago.

And yes people do "invest in dollars" via forex trading. They believe this currency is more valuable in the short or long term than some other currency.

Lets just keep this at the bet. I think you're an idiot. You think I'm an idiot. Lets let the bet decide who's the idiot.

And hell man I suspect even if BTC drops down to 5k & I lose the bet you'll still be the ultimate idiot cuz it'll go up to 50k before it'll go to 0 from 5k.

[Sugar Adam Ali]

People have bought cars & other random items. Some cat purchased a car with a alt coin a couple weeks back. It was in the news.

The thing with buying stuff with a currency that still hasn't found its ceiling is you are throwing away money by doing that. BTC has went from 6/10ths of a penny to $18k in 7 years. Mfers far more intelligent then me are saying its full value is between $500k-$1M a coin. So if I'm buying a car for 2 BTC ($20K) today I might have loss $1M-$2M in eventually BTC value in 4 or 5 years.

Its sorta the opposite of USD money which is losing value. If I buy something today for $20k it might cost $25k next year so I saved 5k or my money was worth 5k more a year ago one could say. BTC is going the opposite way (despite all the "sky is falling" "btc is a ponzi" talk cuz of the latest drop, BTC is STILL up 400% over the last 6mos lol).



Amazon probably will at some point. Some online retailers accept it. It wouldn't make sense to allow it in bigger chains yet because its not THAT widely distributed.

“Some cat bought a car with it”———- was that in a sponsored yahoo or google ad?

No dealership accepts bitcoin,, the person probably traded in their “superior currency” for some lowly dollars and bought it.


And why was the bitcoin worth so much, because idiots are buying it at that price

[Eff Pandas]

“Some cat bought a car with it”———- was that in a sponsored yahoo or google ad?

No dealership accepts bitcoin,, the person probably traded in their “superior currency” for some lowly dollars and bought it.

I love you are so stupid about this yet think you are so smart. Its like an SNL skit watching you speak about something you are clearly not as intelligent about as you think. I see Jon Lovitz playing you in my head. I know he's not on the show since forever, but thats my mental image.

http://spendbitcoins.com/places/c/car-dealers/

[Sugar Adam Ali]

Nothing as much fun as the guy who thinks he knows everything despite asking "wut dis bitcoin thing I don't git it" 3 or 4 months ago.

And yes people do "invest in dollars" via forex trading. They believe this currency is more valuable in the short or long term than some other currency.

Lets just keep this at the bet. I think you're an idiot. You think I'm an idiot. Lets let the bet decide who's the idiot.

And hell man I suspect even if BTC drops down to 5k & I lose the bet you'll still be the ultimate idiot cuz it'll go up to 50k before it'll go to 0 from 5k.

Lmao....



Why will it rise to 50k?

Amazon will rise because they are growing and a decade from now will have a trillion in revenue, in 30 years they will have trillions in revenue..

In 30 years bitcoin will only be worth what some idiot is willing to pay for it.

Just like a Ponzi scheme, unless you get new buyers to increase price, it collapses on itself..

Bitcoin does nothing while you hold it

Gold is used jewelry, etc while you hold it

Silver is used in electronics while you hold it

Stocks are ownerships of companies that grow and yield profits while you hold it


Land allows for rent income or shelter while you hold it



What does bitcoin or any alt coin do to have value, except for buying and selling while you hold it?



And now with their being over 1400 cryptos and bitcoins technology becoming outdated n slow, why would anyone invest in bitcoin long term instead of the other 1399 coins..

By 2019 there will be over 2500 cryptos..



And the Microsoft’s, apples, Amazon’s, jr Morgan’s, etc of the world will just create their own crypto just like Kodak did and the other 1400 cryptos, why would anyone need bitcoin, let alone pay 5k, 10k, 25, 50k (which is your prediction) for a worthless coin that’s only value is what you can sell it for..


NO INTRINSIC VALUE

[Sugar Adam Ali]

I love you are so stupid about this yet think you are so smart. Its like an SNL skit watching you speak about something you are clearly not as intelligent about as you think. I see Jon Lovitz playing you in my head. I know he's not on the show since forever, but thats my mental image.

http://spendbitcoins.com/places/c/car-dealers/

Well they are idiots..


I just bought a car for 18k, gave them a bitcoin, by the time they cashed the bitcoin, it’s price was 15k plus fees. So the company just lost 3k..


Great business men.. I wish I could be that smart..