Bitcoin will make history as the biggest bubble/pyramid in the history of mankind.

lovethetrade said:
The network effect and different coins/block chains are geared towards a different purpose.

"However, from a general point of view, Bitcoin and Ethereum differ in purpose. While Bitcoin is created as an alternative to regular money and is thus a medium of payment transaction and store of value, Ethereum is developed as a platform which facilitates peer-to-peer contracts and applications via its own currency vehicle. While Bitcoin and Ether are both digital currencies, the primary purpose of Ether is not to establish itself as a payment alternative (unlike Bitcoin) but to facilitate and monetize the working of Ethereum to enable developers to build and run distributed applications (ĐApps)."

Bitcoin Vs Ethereum: Driven by Different Purposes
https://www.investopedia.com/articles/investing/031416/bitcoin-vs-ethereum-driven-different-purposes.asp#ixzz567mNULbr
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How is it a good medium of payment? Imagine if the dealer sold you a car for bitcoin at the peak (you bought a 40K car) and paid him 2 bitcoins. now he sold you a 40K card for 16K as of today. That would sound like hyperinflation because that bitcoin in his pocket is worth a fraction of what it was worth a few weeks ago.

No one is going to have confidence in a currency that has massive valuation swings. This is why the USD can be used to conduct any transactions you want.

I still find it curious that all the bitcoin atms spotted around my neighborhood are one way ATMS. USD to bitcoin not the other-way around.
 
prc117f said:
How is it a good medium of payment? Imagine if the dealer sold you a car for bitcoin at the peak (you bought a 40K car) and paid him 2 bitcoins. now he sold you a 40K card for 16K as of today. That would sound like hyperinflation because that bitcoin in his pocket is worth a fraction of what it was worth a few weeks ago.

No one is going to have confidence in a currency that has massive valuation swings. This is why the USD can be used to conduct any transactions you want.

I still find it curious that all the bitcoin atms spotted around my neighborhood are one way ATMS. USD to bitcoin not the other-way around.
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Please do everyone a favour a do your research before spreading misinformation about a sector you have no idea about.

Bitpay and other payment processors like Litepay convert the payment immediately into fiat currency. When businesses accept Bitcoins at a given price at a given time, they will be paid that final value - they do not have to be concerned about any price changes.
 
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d08 said:
Bitcoin is probably a bubble but what's your issue with people living with their parents? You sound like a baby boomer frustrated about the fact that the millennials don't follow your societal rules. They look at a house as an extra expense but more than that, something that robs you of your time and energy. If they can get along with their parents and have reasonable privacy in their "mom's basement", more power to them. They don't waste time cutting grass outside just to adhere to some opaque suburban rules of what's pretty. That's time saved right there. I'm a millennial and from people I know, no millennial is proud to have a house/apartment anymore, for good reasons.

Many geniuses have lived with parents. Grigory Perelman in Russia turned down $1m after solving one of the most difficult mathematical problems of all time. He lives with his mother.

In the end it sounds like you're just infuriated that what you consider an achievement (getting a house) is not recognized as anything anymore, time have moved on. Remember, ghetto gangbangers with an IQ of 80 also have houses, so it's really not a big deal in any sense.

Disclaimer: I don't live in my mom's basement.
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No its idiotic if you have 10 million dollars sitting in some investment that cost you zero but could net you zero and you dont want to actually cash it in and actually have usable money. pay your parents mortgage off? buy your own place etc.. It makes no sense to be sitting on paper assets that could quickly go to zero and not cash in, instead you still live in the basement broke as if you had zero assets.

You do sound upset, I suspect one of the basement dwellers who cant liquidate that pretend million dollar profit.

I never understood the mentality of the bitcoin people.
 
I understood this garbage was lit up all year. Fine, I get it.

But 450 billion in mkt cap has now evaporated in less than a month .

Many morons have lost their nuts. at least on paper

I win.


Yes , I declare victory, unless you can prove you bought low and sold high. HODLING and adding doesnt count
 
hear credit card co's are BANNING their usage to buy the garbage. They don't want to be stuck with you deadbeats not paying off your cards cause you bought shitcoin.
 
prc117f said:
No its idiotic if you have 10 million dollars sitting in some investment that cost you zero but could net you zero and you dont want to actually cash it in and actually have usable money. pay your parents mortgage off? buy your own place etc.. It makes no sense to be sitting on paper assets that could quickly go to zero and not cash in, instead you still live in the basement broke as if you had zero assets.

You do sound upset, I suspect one of the basement dwellers who cant liquidate that pretend million dollar profit.

I never understood the mentality of the bitcoin people.
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This is in no way about the cryptos then. There are so many people living way below their means. Don't go to places like Germany, you'd lose it over guys driving old Volvos but having $20 million in the bank. They obviously see the cryptos going higher, that's why they don't spend it. There are quite a few people sitting on assets that could "quickly go to zero", in fact many small businesses would fall into this category.
And as I stated, they don't see acquiring a house/apartment important, it's simply not a priority. Yet, you're going on about it as if it is.
You're reading comprehension leaves to be desired as I already stated I'm not a basement dweller nor have I ever invested in cryptos.
 
vanzandt said:
Link?
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Banks ban credit purchase of cryptocurrency due to risks
https://www.engadget.com/2018/02/03/banks-ban-credit-crypto-purchases/

"If you use your Bank of America-, JP Morgan Chase- or Citigroup-issued credit card to buy cryptocurrency, then you'll have to find an alternative ASAP. According to Bloomberg, the banks have banned crypto purchase using their cards due to the virtual coins' volatile nature. BofA has already started declining credit transactions with known exchanges, though its debit cards aren't be affected by the ban. Citigroup also announced on Friday that it'll no longer process crypto purchases, while JP Morgan Chase's new rule will take effect today.

..."
 
truetype said:
Amid your hundreds of posts, did *you* ever "prove" you were in fact short CME or CFE futures? Possibly you "forgot"...
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Why should he be short? What is the logic behind it? Your statement sounds stupid.

If he thinks bitcoins are too dangerous to trade, it is logical that he did not go short. Too dangerous means don't trade it at all.
Maybe he as better trading opportunities.
 
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