Official Bitcoin & Cryptocurrency Discussion Thread

[Sugar Adam Ali]

They were useless. Real money is what should be betting.

Much like crypto

[Sugar Adam Ali]

Lmao

Y’all still think this market is legit? Nothing like having 40 billion wiped off in a day.

[BostonGuy]

If bitcoin and other cryptocurrencies become more stable, less volatile and more widely used and accepted then you would expect them to behave more like traditional currencies. Is that the goal?

If this is the case, then historical evidence would indicate that bitcoin would gradually lose it's buying power like the dollar has experienced.

The buying power of a dollar 10, 20, 30 years ago would have bought you more goods/services, than it can today due to inflation.

Does Bitcoin has some inflation protection component built into it?

I think bitcoin and other cryptocurrencies are a fun asset to speculate on and maybe make a quick couple bucks on its volatility, but how does bitcoin factor into a long-term investment strategy?

[siablo14]

Much like crypto

Nah. Crytpo has real monetary value. It can be bought and sold with real money. These points are sh**t.

[siablo14]

If bitcoin and other cryptocurrencies become more stable, less volatile and more widely used and accepted then you would expect them to behave more like traditional currencies. Is that the goal?

If this is the case, then historical evidence would indicate that bitcoin would gradually lose it's buying power like the dollar has experienced.

The buying power of a dollar 10, 20, 30 years ago would have bought you more goods/services, than it can today due to inflation.

Does Bitcoin has some inflation protection component built into it?

I think bitcoin and other cryptocurrencies are a fun asset to speculate on and maybe make a quick couple bucks on its volatility,but how doe s bitcoin factor into a long-term investment strategy?

Red - Bitcoin and associated technologies were created for those of us who want to circumvent the traditional banking and financial systems and cut down borders. F**ck them and their fees.

[.!WAR MIKEY!.]

Does Bitcoin has some inflation protection component built into it?

Once all the bitcoins are mined thats it theirs never gonna be anymore. Its not like money where they print more and more and devalue the dollar and create inflation.

So in theory, once all the coins are mined the value will only increase with time.

[Eff Pandas]

THE ‘WAL-MART’ OF VENEZUELA HAS STARTED ACCEPTING BITCOIN

As Venezuela is in the grip of hyperinflation, a large local Wal-Mart-like department store has started to accept bitcoin for goods.

CRYPTOCURRENCIES: A VIABLE ALTERNATIVE

More and more are cryptocurrencies establishing themselves as a viable alternative to Venezuela’s redenominated local currency the Sovereign Bolivar. TRAKI, a large local department store, has purportedly started to accept cryptocurrencies.

According to a Reddit thread posted by user ImVito, she was able to purchase 884 items of school supplies and clothing with as little as $260 in BTC. Supposedly, the money was donated by the Reddit community and all the items will be going towards the country’s kids in need.

“Real Adoption and Real Help,” reads the thread as the user has also shared the transaction of the purchase. Apart from Bitcoin, the department store also accepts Dash, Ethereum, Litecion (LTC) and Bitcoin Cash (BCH).

VENEZUELA’S FINANCIAL CATASTROPHE

The country has undoubtedly failed to maintain its control over its financial sovereignty with fiat as the International Monetary Fund projects that the local inflation rate will hit 1 million percent by the end of 2018.

Pressure, however, is only boiling up as the country recently instigated mandatory Petro payments for travel passports.

Amid the financial crisis, though, a trend is clearly outlined: peer-to-peer cryptocurrency trading has skyrocketed.

Bitcoinist reported November 7 that the country has traded 1075 BTC in 7 days until November 3, beating all previous highs. The above example is only one which outlines why cryptocurrencies are shaping up as preferred means of payment in the country.

Just a few months back, though, another Reddit user shared his story of how he managed to feed an entire community off of NANO donations. At the time, NANO was worth $2.71 per coin, but the user outlined:

0.5 nano is almost one entire monthly salary in my country. It’s more than I made last month.

Moreover, just yesterday the oldest newspaper in the country – El Impulso, has publicly recommended people to sell their cars for BTC as a means of protecting their money from inflation. The publication stressed that users don’t need foreign accounts nor do they need to hold a large amount of other currencies in cash if they use bitcoin.

https://bitcoinist.com/the-wal-mart-...pting-bitcoin/

[Furn]

Btc still gonna hit 25k by the end of the year?

[FinitoxDinamita]

It boggles my mind knowing how ignorant people are but hey, the later you guys get into it, the better it is for me. Lol

[FinitoxDinamita]

Btc still gonna hit 25k by the end of the year?

BTC will hit 250k by 2022 and thats being conservative.

BTC will be the world currency but the problem is, once they are all mined, ohhhh weee. Dont ever let anybody know how many bit coins you have cuz you will be targeted.

I expect to see many crypto crimes in the future