Economy Bitcoin Doubters, Come Eat Your Crow

[Lead]

lol

lol

 

[mike sherry]

lol

it was a hilariously ignorant post. if you knew the basics of the security behind the block chain you would understand why it's likely here to stay.

that's not even getting into the whole "it peaked but then it stopped" non sense

 

[WiolentOne]

Its value comes from its usage on the black market online.

It's here to stay.

Just to expand on this a bit it's popular with online overseas pharmacies.

I'm not even talking about hardcore drugs either just regular meds like antibiotics, anti-aging creams, viagra, asthma meds etc.

And of course, it's extremely popular with the more illicit drug sales.

Like i said it's here to stay and will continue to grow with time as more and more people turn to the Internet for their needs and fixes.

 

[Cubo de Sangre]

It spiked up at one point and stopped a long time ago. You are silly if you think we are eating crow. It isn't a good investment (and actually shouldn't be seen as one because it's a currency but many of it's user's don't understand that either) and depends on the hype of others to think it works. and dump their money into it.

Think it works? Other than people using it to conduct transactions for years, what would convince you?

 

[Kframe]

How do you even spend a bitcoin? I cant use it at a Walmart or Krogers.

 

[WorldofWarcraft]

Few legit stores take Bitcoin. It's mostly used to buy illicit things online. Mostly illegal narcotics, though it has found a place in drugs used for medicine that can be bought online from overseas because medicine here in the US is stupidly expensive.

 

[Lead]

it was a hilariously ignorant post. if you knew the basics of the security behind the block chain you would understand why it's likely here to stay.

that's not even getting into the whole "it peaked but then it stopped" non sense

Should a currency be seen as a form of investment? How useful is Bitcoin to companies selling goods when the value changes so frequently? Unless it hits a stable area, it had little use as a currency.

You could explain the security of the block chain but our first interaction was you empty posting. I don't think security changes the reasons I don't think it fulfills its purpose as a currency. It could stay around a long time but in its current form, I has little use as a currency and it isn't an investment. There is no real intrinsic value behind it. It does a shitty job at doing either thing

 

[Lead]

Think it works? Other than people using it to conduct transactions for years, what would convince you?

The way it works now, it never could be used as a primary currency unless they find a way to keep price stable

 

[Lead]

What's rich is this same thread happened before the price plummeted then all those people shut up. We had people projecting a million a coin in the thread. Now the price starts creeping up again and we get this same thread again. Time will tell. I say currency should be something that doesn't fluctuate in value to much. Business and users don't want to deal with that.

 

[Thunderflash500]

What's rich is this same thread happened before the price plummeted then all those people shut up. We had people projecting a million a coin in the thread. Now the price starts creeping up again and we get this same thread again. Time will tell. I say currency should be something that doesn't fluctuate in value to much. Business and users don't want to deal with that.

Well it's a new thing. It's not going to stabilize over night. I think it's too soon to call. It does seem to have value in a world full of borders and regulations.

 

[WorldofWarcraft]

I don't think it's ever going to stabilize. The more important point to make is that Bitcoin is in use now more than ever and it's finding value for itself outside of the illicit narcotics market.

Maybe when it gets to a point where it's used by more people, its value will stabilize. But that doesn't matter. However much its value, whether its 1 penny or 1 thousand, it's still going to be used.

 

[Lead]

Well it's a new thing. It's not going to stabilize over night. I think it's too soon to call. It does seem to have value in a world full of borders and regulations.

That's fair to say which is why I said the current way it is. If it could flatten out, it's a different debate and would lose the interest of most of those arguing for it cause they think of it as a stock or something.

 

[RighteousWar]

 

[Based and White Pilled]

I've made a lot of money with Bitcoin. Not because I'd ever thought it would amount to anything, but I was sitting on a lot of them, then all of a sudden they went from being worth next to nothing to $1600 a pop. I sold most over a period of time. They were literally giving away 10,000 bitcoins to anyone who wanted them when they first came out.

I wish I had taken as much as I can when they were giving them away and nobody wanted them. I'd be worth hundreds of millions now.

It's safe to say BTC is here to stay, even if the feds ban it. It's the preferred currency of the black market and deep web.

How you get teh dubs?

 

[Gregolian]

"I hate Thenns"

 

[mike sherry]

Should a currency be seen as a form of investment? How useful is Bitcoin to companies selling goods when the value changes so frequently? Unless it hits a stable area, it had little use as a currency.

You could explain the security of the block chain but our first interaction was you empty posting. I don't think security changes the reasons I don't think it fulfills its purpose as a currency. It could stay around a long time but in its current form, I has little use as a currency and it isn't an investment. There is no real intrinsic value behind it. It does a shitty job at doing either thing

I was not able to take your post serious after you said "it stopped a long time ago". the adoption, market cap, and usage have all been going up.

I'm not looking to educate you why this currency has tangible benefits that other currencies just do not have.

but obviously a currency that when used appropriately is nearly anonymous can obviously be used on the internet's growing black market. there will always be a need for it.

 

[Gregolian]

Can someone tell me WTF bitcoin IS exactly and what it's used for? I remember when it came out and it seemed like this weird virtually currency that I didn't completely understand.

 

[WorldofWarcraft]

How you get teh dubs?

It's a long story... one that involves friendship... then love... betrayal.... vengeance.. and finally... redemption...

 

[EvilWasLittle]

If this is true I'm fucking pissed I missed this boat.

 

[Gandhi]

it was a hilariously ignorant post. if you knew the basics of the security behind the block chain you would understand why it's likely here to stay.

that's not even getting into the whole "it peaked but then it stopped" non sense

It being here to stay and it being a good investment are mutually exclusive concepts in this case.