111–120 of 389 posts
Earlier quoted context omitted.
Errrrr.... Bitcoin is a fiat currency, so be careful with your generalization. And whose job is it to investigate bitcoin fraud and theft? No one.
Bitcoin might turn out to be one of the markets where free market dynamics work well. Whose job is it? Anyone who has a stake in trusting and maintaining bitcoin's value. So the rich are incentivized to safeguard the poor in some sense here.
The conspiracy theorist in me wants to say that the best way to undermine trust in cryptocurrencies is to create market turmoil. This would not just undermine trust in cryptocurrency, but serve to embolden the Fed's 'Price Stability' justification.
Be careful. There is evidence that certain parties are issuing fake dollars called USDT / Tether from which they buy cryptocoins (incl. BTC) to artificially increase the price: https://mobile.twitter.com/bitfinexed (One of the people monitoring the situation) https://np.reddit.com/r/btc/comments/7g5yml/my_investigation... (Some more info) Make sure you are able to get out on time if needed. Investigate and decide for…
"I agree that if no one was able to get fiat in or out of Tether and USDT were still being issued that would be a huge problem. As it stands, however, institutional customers are able to deposit USD to Tether, and this is how USDT is being issued."
https://www.reddit.com/r/BitcoinMarkets/comments/7fsfwl/dail...
“Rosenstreich at online trading firm Swissquote said bitcoin’s surge harks to the surprises of the U.K. referendum on European Union membership and President Trump’s election. “We have underestimated the populist movements,” he said. “There is growing unease on how central banks and governments are managing fiat currencies. Ordinary people globally understand why a decentralized asset is the ultimate safe haven.”” Th…
This is nonsense. This is being driven by speculation / minuscule interest rates / greed. Very little of the demand for btc in the past year is due to lack of faith in institutions.
How do you transfer Bitcoin into fiat currency? There was a Bitcoin ATM in Portland, OR a while back but I'm not sure how it worked and haven't really heard of other ways to liquidate BTC.
“Rosenstreich at online trading firm Swissquote said bitcoin’s surge harks to the surprises of the U.K. referendum on European Union membership and President Trump’s election. “We have underestimated the populist movements,” he said. “There is growing unease on how central banks and governments are managing fiat currencies. Ordinary people globally understand why a decentralized asset is the ultimate safe haven.”” Th…
Errrrr.... Bitcoin is a fiat currency, so be careful with your generalization. And whose job is it to investigate bitcoin fraud and theft? No one.
Please expand. Which state is forcing people to pay their taxes in Bitcoin, and/or authorizing it as legal tender?
Makes you wonder what triggers people have for themselves to sell their 'stash'. 10 fold increases in a year won't last for very long.
So there is no need to sell.
Makes you wonder what triggers people have for themselves to sell their 'stash'. 10 fold increases in a year won't last for very long.
I wonder how many tulips you can buy with a bitcoin?
Earlier quoted context omitted.
I've seen comments saying "unlike bitcoin, gold has intrinsic value!" on HN for years. It never made sense to me. Like Bitcoin, gold is only valuable because we think it is and we want it to be (and because it's relatively scarce, too, just like Bitcoin is). Same with diamonds. Their functional value is relatively small in comparison to their "beauty" and scarcity values.
That is not correct. Gold actually has uses in manufacturing all kind of goods. In many manufacturing processes its irreplaceable. It has historical significance that is ingrained in virtually every culture (i.e. everyone grows up thinking gold as valuable thing due to stories you hear as kid). Jewelry made out of gold looks great, doesn't get rusty and you can keep it for centuries without needing any technology. Ev…
The only real thing that makes gold valuable is it's scarcity. If it stopped being scarce because an asteroid containing a lot of gold was brought back to Earth, people would stop valuing gold and stop making jewelry out of it.
Bitcoin has the same important property of scarcity as gold.