Bitcoin currency of the future?

[Turtlejuice]

If they buy up all the bitcoin, it drives the price up and legitimizes cryptocurrency, which would further devalue the dollar. If they do what you're proposing, the USD empire does crumble.

Isn't that the point you're trying to make? If Bitcoin is the currency of the future, that is exactly how it will happen.

 

[Der Eisbär]

Isn't that the point you're trying to make? If Bitcoin is the currency of the future, that is exactly how it will happen.

All of bitcoin doesn't need to be bought by the us government to make it the currency of the future. That's retarded. I'm just saying that such an action would do nothing but legitimize cryptocurrency as a whole.

 

[Turtlejuice]

All of bitcoin doesn't need to be bought by the us government to make it the currency of the future. That's retarded. I'm just saying that such an action would do nothing but legitimize cryptocurrency as a whole.

Of course it doesn't, more likely it would be bought up by the organisations the US government borrows money off. The organisations that already control the majority of the world's money. If bitcoin becomes the standard currency, it will be lead by the mega rich, not by the poor.

For this scenario to happen the way you imagine it, they would have to be completely oblivious to the existence of Bitcoin. And I guarantee that they aren't. Hell, you're assuming these people aren't already stockpiling large quantities. That's not something I'd bet on.

 

[Der Eisbär]

Of course it doesn't, more likely it would be bought up by the organisations the US government borrows money off. The organisations that already control the majority of the world's money. If bitcoin becomes the standard currency, it will be lead by the mega rich, not by the poor.

For this scenario to happen the way you imagine it, they would have to be completely oblivious to the existence of Bitcoin. And I guarantee that they aren't.

Whether or not the mega rich own all of it. They still can't control it. They can't create it out of thin air. If they do buy it all up, they still can't manipulate it and it would be a net gain for all of us. They also cannot stop people from mining it. There will only be 21 million bitcoin ever, and the full supply of bitcoin won't be out for another 100 years. If they buy it all up they only buy the current amount in the market. And like I said, people will still be mining it outside of their control and supply.

 

[Turtlejuice]

Whether or not the mega rich own all of it. They still can't control it. They can't create it out of thin air. If they do buy it all up, they still can't manipulate it and it would be a net gain for all of us. They also cannot stop people from mining it. There will only be 21 million bitcoin ever, and the full supply of bitcoin won't be out for another 100 years. If they buy it all up they only buy the current amount in the market. And like I said, people will still be mining it outside of their control and supply.

Of course they can manipulate it. If there are 21million bitcoin and you own 15 million of them you basically control the value of it.

You think these people couldn't set up massive mining farms?

I don't think average Joe with his pc sat at home is going to achieve a great deal, especially when the energy to run his machine will cost more than it generates.

 

[Der Eisbär]

Of course they can manipulate it. If there are 21million bitcoin and you own 15 million of them you basically control the value of it.

You think these people couldn't set up massive mining farms?

I don't think average Joe with his pc sat at home is going to achieve a great deal, especially when the energy to run his machine will cost more than it generates.

If they did what you're proposing it directly undermines the dollar. That's what you're not getting.

 

[Turtlejuice]

If they did what you're proposing it directly undermines the dollar. That's what you're not getting.

When the dollar is no longer the currency, the value of the dollar will be 0.

 

[Tamriel Terror]

So how should I buy? Credit or debit card?

I wanna buy some now, but Bitcoin, Ethereum, and LTC are all soaring right now, so its clearly not the best time to buy.

 

[Der Eisbär]

So how should I buy? Credit or debit card?

I wanna buy some now, but Bitcoin, Ethereum, and LTC are all soaring right now, so its clearly not the best time to buy.

Cards are a 4% fee. Definitely go debit, not credit. Don't wanna pay interest on making gains. Stay tuned to prices and buy when it stabilizes or drops out. I expect 160-170 LTC by the end of the day. When it hit 194 on friday night it went back to 130 over the weekend and slowly rose again. I could also be totally wrong and we moonshot to 250.

 

[Der Eisbär]

When the dollar is no longer the currency, the value of the dollar will be 0.

Thats where we're going.

 

[Luminaire]

So how much do you folks have tied into this never ending gold mine?

 

[Tamriel Terror]

Cards are a 4% fee. Definitely go debit, not credit. Don't wanna pay interest on making gains. Stay tuned to prices and buy when it stabilizes or drops out. I expect 160-170 LTC by the end of the day. When it hit 194 on friday night it went back to 130 over the weekend and slowly rose again. I could also be totally wrong and we moonshot to 250.

Well I added my card and now anytime I try and buy any coins it links me back to the verify account page and tells me to either add a card or bank account even though I already have my card on there..

 

[Der Eisbär]

Well I added my card and now anytime I try and buy any coins it links me back to the verify account page and tells me to either add a card or bank account even though I already have my card on there..

You're not verified yet?

 

[Turtlejuice]

Thats where we're going.

And that's exactly why the dollar being devalued is irrelevant.

Now do you follow?

 

[Der Eisbär]

And that's exactly why the dollar being devalued is irrelevant.

Now do you follow?

In the end game of the crypto war, the value of the $ will be irrelevant. Satoshis/bitcoin will be the currency.

 

[Tamriel Terror]

You're not verified yet?

NVM I am now. Now I'm just waiting for Litecoin, Ethereum, or BTC to drop.

 

[Der Eisbär]

NVM I am now. Now I'm just waiting for Litecoin, Ethereum, or BTC to drop.

Good luck man! Im bullish as all hell on ltc in the short term. Eth in the long term.

 

[Luminaire]

Good luck man! Im bullish as all hell on ltc in the short term. Eth in the long term.

Do you have any real concrete reasoning to be bullish?

How much do you have invested here?

How much are you willing to lose?

Have you realized any profits?

You do realize this IS going to plummet at some point right?

 

[Der Eisbär]

Do you have any real concrete reasoning to be bullish?

How much do you have invested here?

How much are you willing to lose?

Have you realized any profits?

You do realize this IS going to plummet at some point right?

-The fact that ltc is one of 3 currencies on the #1 app on google play, coinbase, and is the cheapest of all 3 and offers superior tech to bitcoin. And its up over 100% from last week.
-Not enough
-All of it
-I'm up about 50%
-That's just your opinion. I will sell off before it does, if it does.

 

[rj144]

Cards are a 4% fee. Definitely go debit, not credit. Don't wanna pay interest on making gains. Stay tuned to prices and buy when it stabilizes or drops out. I expect 160-170 LTC by the end of the day. When it hit 194 on friday night it went back to 130 over the weekend and slowly rose again. I could also be totally wrong and we moonshot to 250.

Isn't debit the same fee as credit? If you add a checking account it's less fee, but the transaction takes longer which is huge when it's so volatile.

I do credit because it's instantaneous and I also get 2% in rewards, so it's like a 2% fee which in the overall scheme of things, is nothing.