Posted on 02/07/2018 5:38:19 AM PST by C19fan
Click here to go to Bloomberg.
“Cryptocurrencies are a medium of exchange independent of government”
except for their control and monitoring of the Internet ...
“What is the difference between VALUE of bitcoin and
Share of company like amazon?”
at some level, not a lot. “investing” in either is a confidence game. the big difference in the two, however, is the same difference between established religions and cults: one is based on an established paradigm accepted by large numbers of people, whereas the other is simply a pretender. The masses have confidence in the established one, but not the other. there IS a difference however between bitcoin and any industrial commodity and companies like Shell that pay a consistent, juicy dividend ... one has tangible value and the other does not ...
“Using crypto for everyday purchases only has minor to nil chance of loss”
except the transaction costs have risen to $30-$50 per transaction, which makes it impractical to buy a coke from a vending machine, not to mention the instability of the coin “value” itself varying by 30% in a couple of hour like it did today. Tthus cryptocoins do not possess critical attributes to function as a currency.
“there are a limited number of BITCOIN”
there is a limited supply of lots of things, for example, there are only about 250,000 legally registered and freely transferable machine guns.
However, just because something has limited supply doesn’t mean it’s suitable as a currency or even as a liquid store of wealth. There are number of other attributes necessary for something to fully function as money.
What exactly do "govs" have to do with it?
And blockchain is not going away. It's just a distributed, transparent accounting system that could make government totally transparent and accountable, so you're right, "govs" won't want to allow that.
You have no idea what you’re talking about. Do more research.
“You have no idea what you’re talking about”
30% bitcoin price change today:
https://www.coindesk.com/bitcoin-up-2k-from-start-of-trading-day/
bitcoin transaction costs:
https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-rising-high/
The fee accrues to the retailer only when the retailer decides to convert his bitcoins to cash. Something that will happen less and less in the future. The retailer always has the option of just spending his bitcoins business to business, or saving them, or spending them at another retail establishment.
“The fee accrues to the retailer only when the retailer decides to convert his bitcoins to cash.”
Uh,yeah, i’m positive mom & pop stores and even the big boys like Home Depot and Safeway would just LOVE to hold on to their bitcoins while the prices are gyrating 30% on a daily basis ...
Up until just recently they were ecstatic. Bitcoin is going to replace much of hard currency in the future. Not accepting it now when it is probably only 1% of your business anyway is very shortsighted. Better to be on the cutting edge in retail. We disagree.
Yes I can see companies like Shell that has real assets or
Have long history of dividends.
But many like amazon have no profits and no barrier to competitors
“But many like amazon have no profits and no barrier to competitors”
Uh, the barrier to competing with amazon is a mere 131 billion dollars worth of warehouses, distribution systems, infrastructure. servers, and software. That’s why there are no effective competitors to amazon ... just a few outfits picking up crumbs in niche retail areas.
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