Stupid question about Cryptocurrency

[traderjo]

my questions was about "direct practical use" not it's valuation ,
as on today even in the developed western world Can I purchase tomatoes with BTC , no unless the store accepts it, will the store accept it? only if it's suppliers accept it and so on until the supply chain ends!
At some point along the chain somebody has to change it over to a legal acceptable recognized currency without that it is useless. Simple logic is it not?
on that ground to me it is useless so far.
Somebody said gold is worthless too! and one can't purchase tomatoes with it... yes true up to a point.. but the world accepts gold at a ratio to legal currency.. so as far as that is concerned YES to a mere mortal like me it is of value over this "untangiable crypto BS"
A layman requires a layman's answer to a simple question . oh and last time I checked USD is supported by US government .

 

[gkishot]

Bitcoin is a joke. The transaction fees are insane.

Bitcoin is either a Ponzi or pyramid - maybe both. It is also the biggest pump & dump in history and for many on forums like this it is a mania/lottery ticket for the casino type speculators.

It has way to many problems to be taken seriously to be used a currency - except for buying dope on-line which may not be so easy these days after SR got shut down.

Wow, bitcoin is going increasingly mainstream.

 

[NeoTrader]

oh and last time I checked USD is supported by US government .

And what does the government have that "support" it's value? The hability to print more? Governments never produce nothing, on the contrary, the only thing they do is spend and waste tons of stolen(taxed) money. So what is your point?

 

[Pekelo]

And what does the government have that "support" it's value?

The US military, my dear. You know that tiny little entity that comes in when your uncle called Saddam dares to switch from petro dollars to euros and not listening to good advice. His neighbours got the picture though...

Also you might live in the jungle, but most governments produce I dunno,public roads and education, street lightning and other unnecessary luxury...

Boy, you crypto kids are fucking dumb.

 

[Illini Trader]

The US military, my dear. You know that tiny little entity that comes in when your uncle called Saddam dares to switch from petro dollars to euros and not listening to good advice. His neighbours got the picture though...

Also you might live in the jungle, but most governments produce I dunno,public roads and education, street lightning and other unnecessary luxury...

Boy, you crypto kids are fucking dumb.

Pretty harsh statement for a discussion among fellow traders. The reality is that Bitcoin just kicked off a new technology (Blockchain) that with change our world in the same way the internet did in the early nineties. There will a lot of trash out there but there will be tokens for lack of a better term, that will have real products and gargantuan returns that are in their embryo stage now. The next two years are going to be something beyond what any of you think at this point.

My advice is stop trying to be cocky bad mouthers and start studying. The opportunity of a lifetime awaits those to seek it out and recognize it. All ET can think of is arguing if Bitcoin can be a currency or not. That is not the question. Litecoin is much better suited for that. Bitcoin is a store of wealth. Yes, in spite of going from 19,800 to 10,800 in 3 days. This is temporary fluctuation of thin trade at the top and means nothing long term. (Except good buying opportunities)

 

[misterkel]

today even in the developed western world Can I purchase tomatoes with BTC ,

Yeah, you can. (Okay, not sure if these are active today, but the race is on). You can get a credit card with your balance in BTC that auto-converts it to most local currencies for point of sale. The merchant doesn't need to accept it - only the market.

 

[NeoTrader]

The US military, my dear. You know that tiny little entity that comes in when your uncle called Saddam dares to switch from petro dollars to euros and not listening to good advice. His neighbours got the picture though...

Wow... So an army gives value to a currency? That makes complete sense... If you see North Korea, for example, a shining example of a country that "invests" almost only in its army, you see that even though they're not as big as the U.S. they're doing great... They've even got nukes now!!! So, it's just a matter of time, soon the won will even surpass bitcoin in every aspect!

Also you might live in the jungle, but most governments produce I dunno,public roads and education, street lightning and other unnecessary luxury...

There is no reason why every item you quoted can't be provided by private persons and enterprises. In fact, railroads and airway companies are great examples of that. The best schools and universities always were the private ones... And the education given in public schools in the US are a complete joke, it has been for decades and it only gets worse...

Boy, you crypto kids are fucking dumb.

Actually, with arguments such as the ones you use, with a complete lack of logic or fundament... You might want reconsider your idea of "dumb"... The correct definition of the word might be in the image you see in the mirror.

 

[Pekelo]

Bitcoin is a store of wealth.

So are my baseball cards...

Cockiness is coming from putting up with all the coiners' bullshit. First it was cheap and fast transactions, when it is not anymore, now it is store of wealth. When it drops down to 3 digits it will be collector's item.