161–170 of 910 posts
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>CPI is inflation Lol
Right, yeah, if you pretend how much AAPL appreciated matters to anyone, asset inflation counts. Otherwise, it's CPI, and [citation needed] if you want to posit otherwise.
These stories usually spur more enthusiasm for buying cryptocurrency, but ironically those buyers aren’t interested in spending cryptocurrency using their MasterCard. They’re hoping other people will buy cryptocurrency from these announcements, driving the price up. Or, more likely, they’re just hoping other people will buy cryptocurrency and not use it in these spending systems. Spending cryptocurrency would result…
Not necessarily. I could give you the address of 0.001 BTC over the MasterCard network and you give me something I can eat (I don't know if this is how it will work, but why not?) No BTC is converted in fiat currency. You can hoard you BTCs for years or change them in dollars as soon as you receive them. Your choice.
Edit: I must give you the private key too.
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"Once its value stabilizes, its use in day to day transactions will grow." and how will it grow when it's a fixed amount of currency with a fixed amount of transactions per second?
You can divide it over and over. The source code is a living document and transaction speed can be implemented either off chain, in the code base itself, or otherwise. It’s weird to see so many opinions on this website that think BTC is a static thing that can’t or won’t adopt useful pull requests that miners agree are useful. It’s like if it were the mid-90’s and everyone was just as skeptical of e-commerce of the w…
There was a fierce debate that lead to a hard fork over increasing transaction throughput by raising the block size, so I think it's really not a given that BTC will change to increase transaction speed.
Also, one problem people have with Bitcoin is that the idea of every node of the network storing and processing every transaction is fundamentally not scalabe. Sure BTC can change and adapt, but it's hard to overcome a fundamental design shortcoming.
I use a crypto backed cc since nearly 1 year. It's NOT that you are paying in crypto, you still have to convert the coins to a stable currency and the top up your card with it. There are cards that 'make it look' like you are paying in crypto. But the do the same thing in the background.
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What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…
What's the point, you ask... Here is Ross Stevens, CEO of Stone Ridge Asset Management, describing "the point" for an hour: https://www.microstrategy.com/en/bitcoin/videos/bitcoin-macr... It sounds like you've made up your mind about Bitcoin, but I believe you've missed the big picture. The above video, if you watch it with an open mind, will help you to glimpse it. Hint: it's not about cappuccino, it's about living…
Unless fiat is abolished, the price of something in BTC will always be pegged to USD. As USD devalues as a result of inflation, the price of a product in BTC decreases.
I don't see the difference between someone in Venezuela choosing to hold their net worth in BTC (which could halve at any moment), versus their native, rapid inflationary currency. Both are risky, but if the central bank sorted itself out and fixed the currency issue, no one will have any reason to hold BTC any more.
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What's the point, you ask... Here is Ross Stevens, CEO of Stone Ridge Asset Management, describing "the point" for an hour: https://www.microstrategy.com/en/bitcoin/videos/bitcoin-macr... It sounds like you've made up your mind about Bitcoin, but I believe you've missed the big picture. The above video, if you watch it with an open mind, will help you to glimpse it. Hint: it's not about cappuccino, it's about living…
These people are all disingenuous actors. They know the point, but they want to flood all of these threads and act clueless. Bitcoin is digital gold, gold's replacement. It's been here for 12 years and yet, all these actors show up in every Bitcoin thread. It's the greatest monetary shift in hundreds of years. ArcticBull below me shows up in EVERY single Bitcoin thread to trash talk Bitcoin. Here's where we are at; s…
So what? My argument has never been about price but about fundamentals. The fundamentals are crap. I don't care if gets to $100K in the "next couple of years" and neither should you. The price going up doesn't make it good, the price going down doesn't make it bad.
Spending an Argentina of power for 7 tx/sec makes it horrifyingly bad.
Wanna make a 100% ROI? That's not that hard. Risky, but you can make one overnight if you spend some time on r/WallStreetBets.
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What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…
What's the point, you ask... Here is Ross Stevens, CEO of Stone Ridge Asset Management, describing "the point" for an hour: https://www.microstrategy.com/en/bitcoin/videos/bitcoin-macr... It sounds like you've made up your mind about Bitcoin, but I believe you've missed the big picture. The above video, if you watch it with an open mind, will help you to glimpse it. Hint: it's not about cappuccino, it's about living…
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> Paypal would have to eat the difference from buy to sell price. Why? If they never offer withdrawals then they don't need to worry about that.
If I buy a BTC for $30,000, then later decide to sell it for $47,000, Paypal will lose $17,000 if they didn't actually have a BTC somewhere in their vault. This is the same idea as bucket shop operations that "trade" stocks with their clients without actually processing trades on any exchange. When prices are rising, with new buyers available, then a bucket shop can do just fine for themselves. As soon as they have m…
Admittedly this doesn't sound right to me, but it's what the parent commenters seem to be saying.
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What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…
These currencies will inflate in value as their network grows wider. Each new user adds value like a telephone network. Eventually, there will be a point where everyone who wants to be connected is connected, they have bought the bitcoin they want and bitcoin prices reach an steady state. At that point, it should be stable enough to use as a currency.
Get in on the ground floor of this opportunity, then convince all of your friends to buy in, then they convince all of their friends...
Once the speculation upside is gone, why would anyone want to buy Bitcoin? That’s the real question.
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What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…
It's kind of moot w.r.t. MasterCard. They will only accept stablecoins which are generally pegged to usd
I am totally on board a pegged crypto currency that tracks US dollar. For me and many others I presume, stability is far more important than anything else that crypto currencies have to offer.