Fundamental value of Bitcoin

Hoi said:
When a bank was robbed in the early years by man with guns, it had NOTHING to do with the money they stole. But by the way this bank managed their security.
If you don't understand that, you need to go back to school.
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The people who had money in these banks never lost any money. In fact their money was always on their account, it never left. Damage was paid out full by an insurance taken by the bank.

If your bitcoin wallet gets hacked it is a total loss.

Mt Gox victims are not protected. Till today they even did not get back a dime . If you don't see the difference you should go back to school.

If people in Zimbabwe can sell their local currency for bitcoins, they can do the same for USD, JPY, GBP, EUR...
 
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schweiz said:
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If people in Zimbabwe can sell their local currency for bitcoins, they can do the same for USD, JPY, GBP, EUR...
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You obviously did not read the WHOLE article. Zimbabwe doesn't any longer have a currency of their own to sell and you must of been living under a rock not too many years ago when they previously had 100 trillion Zimbabwean Dollar notes. 100 trillion with a T.

Remember to set your school alarm tonight.
 
schweiz said:
The people who had money in these banks never lost any money. In fact their money was always on their account, it never left. Damage was paid out full by an insurance taken by the bank.

If your bitcoin wallet gets hacked it is a total loss.

Mt Gox victims are not protected. Till today they even did not get back a dime . If you don't see the difference you should go back to school.
...
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No I was talking about the EARLY years. At that time there wasn't any insurance. Just as in the early years of Bitcoin there was none. But, NOW even the mayor Bitcoin exchanges have Insurance. Look at Coinbase for instance: you are insured by FDIC just like your USA broker account, as well an insurance by Lloyds:
https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

Do your homework before you post nonsense here!
 
Hoi said:
No I was talking about the EARLY years. At that time there wasn't any insurance. Just as in the early years of Bitcoin there was none. But, NOW even the mayor Bitcoin exchanges have Insurance. Look at Coinbase for instance: you are insured by FDIC just like your USA broker account, as well an insurance by Lloyds:
https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

Do your homework before you post nonsense here!
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Insurance by FDIC is on fiat held off line in Banks which is nothing special. Crypto only insured if security is breached, not if it takes a dive.
 
speaking of nonsense Hoi , the pot just called the kettle black.

FDIC is ONLY for the USD (ie, real money) in the account, the bogus nonsense called bitcoin is not insured by any govt agency.

Check your facts before you spew.
 
Here4money said:
Insurance by FDIC is on fiat held off line in Banks which is nothing special. Crypto only insured if security is breached, not if it takes a dive.
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Are GE stockholders insured if it takes a dive ... another dive like it did last week?

Again and again wanting to hold BTC to a different standard.
 
The haters keep hatin' but Bitcoin doesn't care. Day after day, week after week, month after month... And the hodlers are enjoying the gain$.

One day, the haters may be proven right, but what gain do they have to show for it?

:finger:
 
SunTrader said:
SoesWasWrong check them again yourself. I suggest something called google or are you still stuck in the AOL age:

https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
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Pretty sure Soes was right...

"All digital currency that Coinbase holds online is fully insured. This means that if Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result.

The insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft.

Coinbase holds less than 2% of customer funds online. The rest is held in offline storage."

Online digital currency is insured... which is only 2% of the total... the rest is offline. And, it says nothing about what insurance is used. Definitely not FDIC, since that's on fiat for max of $250k.
 
JackRab said:
Pretty sure Soes was right...

"All digital currency that Coinbase holds online is fully insured. This means that if Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result.

The insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft.

Coinbase holds less than 2% of customer funds online. The rest is held in offline storage."

Online digital currency is insured... which is only 2% of the total... the rest is offline. And, it says nothing about what insurance is used. Definitely not FDIC, since that's on fiat for max of $250k.
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Ummm what abot this?

"If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000."
 
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