Fundamental value of Bitcoin

Hoi said:
Sorry, but I'm anti ICO's. I'm anti 99% of all Alt-coins.
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sounds logical as:
  • other coins break the monopoly of bitcoin, resulting in less profits for you holding bitcoins
  • more coins means that the limited mount of bitcoins loses a lot of its "value" asthere are alternatives
  • you want all coins except the bitcoin to be banned
the ico's are threatening the value of your "investment".
 
schweiz said:
sounds logical as:
  • other coins break the monopoly of bitcoin, resulting in less profits for you holding bitcoins
  • more coins means that the limited mount of bitcoins loses a lot of its "value" asthere are alternatives
  • you want all coins except the bitcoin to be banned
the ico's are threatening the value of your "investment".
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No not at all.
1) competition is good for Bitcoin, if and only if new coins really have innovative new features (which 99% don't have).
2) Launching more Alts and more ICOs is ACTUALLY good for Bitcoin's price as most of them are bought by using Bitcoin (you have to buy Bitcoin first).
3) no I don't want bans at all. that's just bullshit.
4) Bitcoin isn't threatened in anyway: it's 9 years already King, and that will not change in the next 9 years as well.
5) we have now 2 years of ICO's lanching nearly daily: and it didn't hurt my BTC investment at all: just the opposite (see point 2).

But I'm against ICO's without a real product. And against Alt-coins without any new innovation. Just because this will hurt people badly.
 
Hoi said:
No not at all.
1) competition is good for Bitcoin, if and only if new coins really have innovative new features (which 99% don't have).
2) Launching more Alts and more ICOs is ACTUALLY good for Bitcoin's price as most of them are bought by using Bitcoin (you have to buy Bitcoin first).
3) no I don't want bans at all. that's just bullshit.
4) Bitcoin isn't threatened in anyway: it's 9 years already King, and that will not change in the next 9 years as well.
5) we have now 2 years of ICO's lanching nearly daily: and it didn't hurt my BTC investment at all: just the opposite (see point 2).

But I'm against ICO's without a real product. And against Alt-coins without any new innovation. Just because this will hurt people badly.
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:D
 
Hoi said:
But I'm against ICO's without a real product.
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bitcoin is not a real product, there is no underlying value. bitcoins are good as long as there is trust. when trust is gone bitcoin has zero value. the blockchain system has much more value then the bitcoin and can exsit without bitcoins.
 
schweiz said:
bitcoin is not a real product, there is no underlying value. bitcoins are good as long as there is trust. when trust is gone bitcoin has zero value. the blockchain system has much more value then the bitcoin and can exsit without bitcoins.
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The U.S. Dollar* is not a real product, there is no underlying value. The U.S. Dollar are good as long as there is trust. when trust is gone The U.S. Dollar has zero value. the blockchain system has much more value then the The U.S. Dollar and can exist without The U.S. Dollar.

*Or substitute any other currency for that matter.
 
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Mt Gox went from X to zero. many other cryptocurrencies already disappeared too.
from the major 50 normal currencies (USD, GBP, EUR, YEN...) not a single one ever disappeared, and none of them ever jumped up and down like bitcoins.
the major currencies were initially backed up by gold. bitcoin was only backed up, and still is, by thin air.

you can see what will happen when things go wrong with bitcoin. watch what happened with Mt Gox. those who had coins received a little bit, and the "inventor" takes millions.
that's why in a short time over 1000 new cryptocurrencies were started. do an ICO and find enough fools to make you rich.
 
schweiz said:
bitcoin is not a real product, there is no underlying value. bitcoins are good as long as there is trust. when trust is gone bitcoin has zero value. the blockchain system has much more value then the bitcoin and can exsit without bitcoins.
More...

Understanding Bitcoin comes in several stages (the speed in which those stages are passed depends on your intelligents and willfulness to learn). You are clearly in early stage 3 (the stage where the open minded banks entered in 2015 and some reluctant banks still are). Stage 3 means: admitting that there is a technological part that really has value: the Blockchain. But still cannot except that this blockchain technology can only work with incentives to keep it secure and unbreakable.
You my friend have still a long long way to go before you reach stage 5. I pity you!
 
schweiz said:
Mt Gox went from X to zero. many other cryptocurrencies already disappeared too.
from the major 50 normal currencies (USD, GBP, EUR, YEN...) not a single one ever disappeared, and none of them ever jumped up and down like bitcoins.
the major currencies were initially backed up by gold. bitcoin was only backed up, and still is, by thin air.

you can see what will happen when things go wrong with bitcoin. watch what happened with Mt Gox. those who had coins received a little bit, and the "inventor" takes millions.
that's why in a short time over 1000 new cryptocurrencies were started. do an ICO and find enough fools to make you rich.
More...

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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