In more ways than one.
Posted on 11/02/2017 4:02:38 PM PDT by Enlightened1
You say that like it's a good thing. I am more up on AI than most, and I see something like "skynet" as far as the eye can see.
This is a matter over which I have given much thought in the last decade, and I feel as if people are going insane over technology. All I see is more and more control moving in the direction of a smaller and smaller oligarchy with each passing year.
We are literally building our own dystopia with these moves.
I see a BitCrash coming...
Bitcoin’s in it’s final bubble before total collaspe baring a tech breakthrough. If you know what you’re doing you can make a bundle off it. But most people will end up with nothing.
Don't look now, but i've read more than one article about the Fed thinking about implementing an "official" crypto currency.
Can you imagine the benefits to a despotic government? All your value is stored as numbers on a computer system which they would control? Tax increase? "No problem!" Seizure of Assets? "Easy Peasy!" Share the Wealth? "Just push that button right there."
"And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: 17And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."
It’s not a “bitcoin dollar”, that’s your first misstep. Bitcoins are broken into fractions...decimals. So at the current value of XXXX dollars per bitcoin, it only costs you .0002 bitcoin for a coffee, plus a minor transaction fee. No different than credit cards, the store usually picks up the transaction fee.
Looked into accepting bitcoin on my site a few years ago. No risk to vendor, funds deposited to your account (value at time of sale) just like credit card payments. Revamping my website would have cost me in the tens of thousands but that was highly situational and was due to shopping cart / credit card processor...etc.
Any thoughts on the Segwit2x fork? Most I’m hearing is investors do not care.
Absolutely, without a doubt. Dumb money is pouring in now....notice the smart money was looking into starting it’s own blockchain, not buying bitcoin.
MtGox “folding” took a large chunk out for the people at the top...the next one’s gonna wipe the slate.
Nothing backs Bitcoin just like Enron believed you don't need the physical asset.
It's pure speculation which is OK.
You better be a damn good trader, that's all.
Remember you are trading air that is labeled “Bitcoin”
When CBOE trades, the trade is dependent on a physical asset and the delivery of said physical asset.
Your last statement is wrong. Just plain wrong.
Look, at any time you can take your usd, or fake currency...and buy an asset to fix its value. You could buy gold, bricks, chickens, gravel, logs, cows, rare art, diamonds, rubies, silver, copper wire, aluminum, old cars, planes, stocks, houses, salt, raw land, and ........fix the value of YOUR money....to the value of whatever society has...
Bitcoin right now is a very limited float item. To get YOUR interest, some whack jobs tighten the supply, then run the price up unregulated by manipulating it. They hope they suck you in, and get you to buy at some artifically inflated point. Here there and everywhere, folks have warned YOU that getting into bitcoin and beanie babies is very stupid. When you dont’ listen, they tell you to hug your dog and have a good cry... IMHO, your dog should bite you and find a smarter owner.
I’m with you. The more I try to learn about it the less I know. I’ve read dozens of articles and listen to BitCoin advocates talk about it and still the only think that pops into my head is scam. Maybe I am just too old or skeptical but when something seems too good to be true, it usually is.
I’ve been told that BitCoin’s value is math (aka mining). The more you mine, the more you get. To base a monetary value on a math problem seems strange.
WC Fields comes to mind huh?
I wish FR would just boot the Bitcoin and gold crowd the hell outta here.
I’m expecting bitcoin to grow in value a lot more, and other cryptocurrencies and related tech are jumping on board fast.
Cryptocurrency will eventually replace traditional currency.
Governments, businesses, and even individual people will be issuing their own cryptocurrencies.
The technology behind it will also play a role in identification and tracking of real world objects as the IoT explodes on the scene soon.
I’m expecting bitcoin to grow in value a lot more, and other cryptocurrencies and related tech are jumping on board fast.
Cryptocurrency will eventually replace traditional currency.
Governments, businesses, and even individual people will be issuing their own cryptocurrencies.
The technology behind it will also play a role in identification and tracking of real world objects as the IoT explodes on the scene soon.
Perhaps I should have made myself clearer. I am against bitcoin and I am against any federal attempts to create an "official" version of it. I don't have any, I don't want any, and I don't want any sort of crypto currency replacement for it either, and for some of the reasons I mentioned in my previous post.
In more ways than one.
Yes, I get that, my “You” wasn’t aimed at ...you.
Oh good grief.... really? You think businesses and people will start issuing their own currency huh? Yes, at Chuck E Cheese you’re right, you buy Chuck E coins so you can play games for your kids....
“To get YOUR interest, some whack jobs tighten the supply”
There is no one to “tighten the supply”. It doesn’t work that way AT ALL.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.