The future of cryptocurrencies

[scepticus]

Bitcoin seems based purely on speculation with no base of substance so you might as well bet on a  pile of Sh*t .
This will end in tears for those who bought when it was " High" and those " In and Out Early" will have some good profits made at the expense of Suckers who paid "real money ".

[thomasleor]

As much as it pains me, I have to agree with you there, Sceppy.

The latest crazy thing that have happened in this tulip circus is the 180 turnaround by Jamie Dimon CEO JP Morgan, now suddenly yapping his "approval" of this artificial currency, and consequently considering his Bank has control over several nations pensions funds, among one Norways 1 Trilluion USD Pension fund, is ready to rock n roll with his banks assets into this market. He calls it "acreful Exploartion" (SARC).

This is the very same guy that a month ago said this; Oh, and that "any JPMorgan trader trading bitcoin" will be "fired for being stupid."   He shows that a clever Greek at the right position (he is of Greek Ancestry) can always pull a fast con.

https://www.cnbc.com/2017/09/12/jpmorgans-dimon-says-bitcoin-is-a-fraud-that-will-eventually-blow-up.html

now saying:

openruby .com/bitcoin/pages/103140419-jpmorgan-unexpectedly-reverses-on-bitcoin-says-open-minded

[MrPerfect.]

 Bitcoin is based on trust of its users. It's simply a money as any other money wich is based on trust of its users. As long as trust is there, bitcoin gonna be valuated.
   We do not point fingers on dollar, right? Dollar deserve much less trust then bitcoin objectively.
    Besides being currency itself , bitcoin can be used to cheaper money transfers. Forex,  western union, skrill. ..ets will be replaced by bitcoin or criptocurrency alike very qweak.  It's a qwestion of a few years.
    Governments already gave up on fighting egainst blockchein,  now there is a tolk about how to regulate it. Soon it will be everywhere....
    Train is ready to depart....

[Jake007]

Trump is starting to realize that war with North Korea might be a forgone conclusion.

Any destabilization will be a boom for crypto-currencies.

I did a write up on Reddit on how I believe there is a correlation with North Korea and bitcoin price. Its been a month or two ago and I cant find the link, but essentially 9 out of 10 times NK launches a missile the price of bitcoin goes about approx 16%. I looked at all missile launches from the beginning of 2013.

[Real]

The Bitcoin currency is controlled by a select few that are making all of the money.  It's a corrupt currency that is merely a passing fad.  Investing in Bitcoin is like investing in silver...a sucker's bet.

[Jake007]

Its easy to say bitcoin doesnt have any value but the more you look into bitcoin it actually does have value in the way you are able to use it.

They are fungible. That is, 10 bitcoins is 10 bitcoins. This makes bitcoins more useful as a medium of exchange than, say, apples, which vary widely in quality, size, and so on.

They are scarce. The number of bitcoins is predictable over time.

They are easily transferred. They are not easily counterfeited.

Other points that add value to bitcoin.. limited supply, no storage costs, low transaction fees, rapid growing ecosphere and merchants accepting bitcoin, anonymous, no charge backs for merchants, no central bank control.

[Jake007]

I guess Im one of the select few I remember at the 2013 Las Vegas bitcoin conference... one of the first ones... I was in an elevator with other bitcoin enthusiasts. We were going up to the top of MGM Grand for an after party in one of the presidential suites. One of the people in the elevator said "we will be the new millionaires and billionaires". We all just laughed.

[Real]

And bitcoins are easily stolen.

[Jake007]

Real you have no idea what you are talking about.

[Jake007]

By the way... anyone who held bitcoin before the Bitcoin Cash "fork" two months ago holds both their original bitcoin and also equal amounts of bitcoin cash. I sold all of my bitcoin cash at $600 value which equated to approx 20% free bonus money. If you had $100,000 in bitcoin and sold your newly forked bitcoin cash... you would now have $120,000. Not bad.

And theres another fork coming soon on October 25th or there abouts into what would be called "bitcoin gold". No idea what the value of BTG will be yet but I can update you if interested.

Anyways... bitcoin itself is up 12% in the past 24 hours and up 70% in 30 days. GL!

[Real]

Real you have no idea what you are talking about.

Hackers Have Stolen Millions Of Dollars In Bitcoin -- Using Only Phone Numbers
https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#4a997bdd38ba



Bitcoin is for fools.

[Jake007]

Real, sure it happens like bank robberies happen but you still use cash. All you have to do is talk to a person educated on bitcoin for tips and advice and any and all of us would help out with any questions you want answered. Once you know how to secure your bitcoins, there is absolutely no way they can be hacked.

No sane person would put hundreds of thousands of dollars on a bitcoin wallet app on their phone. Doesnt happen unless they are dumb like a rock. I have only $300 on my phone spread across 3 wallet apps... $100 in each wallet. If by some strange chance a wallet gets hacked Ive only lost $100. Not a big deal. The core of my bitcoins are stored offline, untouchable by hackers or governments.

[Real]

Spending bitcoin is also silly.  Every place that accepts them also charges a heavy price/fee for paying with them.

[Real]

Here's what people don't comprehend.  Every time you use an electronic form of currency... whether it's bitcoin, a Visa, Mastercard, or other type of debit card...you are increasing the cost of the item/service that you are purchasing by introducing a third party into the transaction. 

Why do that???

FYI: A while back I was in Florida when there was an internet blackout.  When people went into various stores they could only pay for food in CASH.  No debit/credit cards were accepted.  PERIOD.  It lasted for a few days.  Look around EU and you will find that there's a reason that the Germans there pay for most things in CASH.

[scepticus]

Jake
So your Bitcoin can be sold for dollars. euros etc . ?
Or buying a beer ?