Bitcoin rises by $2000 in one day! Then it falls by just as much the very same day. Is the digital currency here to stay? Or a volatile, unproven and unbacked currency that's doomed to fail? Coindesk's Nolan Bauerie gives Richard his two cents.
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Bitcoin is a 'huge, gigantic scam,' warns real-life Wolf of Wall Street Jordan Belfort https://www.thesun.co.uk/news/worldnews/5146414/bitcoin-jordan-belfort-wolf-of-wall-street-scam-investors-warning/
You could say the same thing about gold. It has mostly 0 value. Throughout history, the only value of Gold has been as a beauty material. It serves no valuable purpose other than looking pretty. Though that has changed a little bit with the boom of electronics.
Pyramid scheme. The ones that makes money from pyramid schemes are the ones that gets out first. Someone with a lot of money will buy lots of Bitcoins, wait a while and then sell and cause a panic. Me I bought the silver Bitcoins......
No one can loan my friend 500,000 for a house in California. When he’s on disability, have him lose it a $300,000, then get bailed out, by taxpayers. Hmm, a bitcoin owner does that he loses his money. 185 Trillion unfunded liabilities, in a 15 Trillion economy.
3:28 says it all. XD
I classify 3 types of btc haters:
1: People working for banks and bankers - Because bitcoin is a threat to their workplace safety and they probably also didnt bought some.
2. Regular people who didnt buy until now and still dont buy because they dont have the balls to do it and are lazy to learn about the technology.
3. Stupid people who have no clue about the technology and just puke out, what they hear in the news.
All bitcoin buyer visionaries and independent thinkers will be rewarded greatly for sure.
I guess all holding of bitcoin will be speculation. You're speculating that it will be better to hold your money in bitcoin rather than in USD. If you want to use it for payments you don't need to hold it. Equally anyone who holds USD is speculating that it wont suddenly collapse in value one day.
For the people who still don't understand bitcoin, please do your research. You will never have an opportunity like this ever. Keep accumulating gold, silver and bitcoin and you and your family will be sitting pretty for life. The future economy will be digital and decentralised. Besides financial health, we need to invest also in mental, emotional and spiritual health, but once covered your physical needs, everything else becomes much easier.Get some bitcoin now, it will continue to increase in value for decades to come, since it's limited and ever more useful for more and more applications. Here is a start: "Introduction to Bitcoin" - Andreas Antonopoulos https://www.youtube.com/watch?v=qkxdys-Ek9U
Andreas own YT channel: https://www.youtube.com/user/aantonop/playlists
Also, visit https://www.reddit.com/r/Bitcoin/ to learn more and be informed.
Get free from Central Powers control by using decentralized currency. The future economy will be totally digital and decentralized. Bitcoin is a worldwide-distributed decentralized peer-to-peer censorship-resistant trustless and permissionless deflationary system/currency (see Blockchain technology) backed by mathematics, open source code, cryptography and the most powerful and secure decentralized computational network on the planet, orders of magnitude more powerful than google and government combined. There is a limit of 21 million bitcoins (divisible in smaller units). "Backed by Government" money is not backed by anything and is infinitely printed at will by Central Banks. Bitcoin is limited and decentralized.
Receive and transfer money, from cents (micropayments) to thousands:
* Cheap regardless of amount $$$ sent (Soon again with Segwit+LN)
* Borderless (no country can stop it from going in/out or confiscate)
* Trustless (nobody needs to trust anybody for it to work)
* Privacy (no need to expose personal information)
* Securely (encrypted cryptographically)
* Permissionless (no approval from central powers needed)
* Almost Instant (from seconds to a few minutes)
* Open source (auditable by anybody)
* Worldwide distributed (from anywhere to anywhere on the planet)
* Censorship resistant (no government can stop its use)
* Peer-to-peer (no intermediaries with a cut)
* Portable (easier to carry/move than cash, gold and silver)
* Public ledger (transparent, seen by everybody)
* Scalable (each bitcoin is divisible down to 8 decimals)
* Decentralized (distributed with no single point of failure)
* Deflationary (its supply goes down with time until reaching 21 million ever)
* Immutable global registry (can’t be altered/hacked by nobody)
* No chargebacks-No fraud ('push' vs' 'pull' transactions).
And that’s just as currency, Bitcoin has many more uses and applications.
For more info go to r/bitcoin on Reddit.
Bitcoin’s value derives from its current real uses (mainly for money transfers and remittances) its limited supply and scarcity (store of value) and its many potential uses. Also, behind the curtains there is a huge growth in the bitcoin ecosystem development that a regular folk can't see because it's ignored by the media.
If you buy for day trading you may lose money, but if you hold long term, it has been proven you get nice ROI. And bitcoin has barely started, think of the Internet/email in the 90's. A decentralized technology that has a valuable use it's not going to disappear, even if a few tyrannical governments try to "ban" it.
Check out this great articles and video:
What Gave Bitcoin Its Value?
"How do Bitcoins have value?"
Why we value Bitcoin
“How to value a bitcoin (Metcalfe’s Law)
Crypto is literally an opportunity to not be poor in the future. I'm not saying that it'll make you people rich (even though it has) I'm saying that invest now, and wait 5 years later and you won't regret it.
BITCOIN is not backed by Gold. and its not backed by anything ,its a made up Currency you have to believe in ..Now I see why the UK and USA founded to have Kadafi killed he wanted world trading backed by GOLD uk and us have no Gold....
I kept telling myself it's a bubble and there's no point getting involved. But then I said fuck it and started mining and investing. I've been primarily using cloud mining services like Hashflare and genesis mining. Genesis mining is currently sold out of most if not all of their contracts, but Hashflare still has 1 year contracts available. I saw ROI in less than 3 months and now it's just pure profit for the remainder of the year. If you don't want to fully invest in a mining rig or on the currensy directly, cloud mining could be a solid solution for you. You can check out Hashflare here: https://hashflare.io/r/A997E2FE
Bitcoin is backed by electricity. Look: End User pays fiat to coinbase for Bitcoin. But Coinbase bought the Bitcoin from a miner, and they paid him Fiat. The reason he sells is to pay for the electricity cost of Mining Bitcoin. Bitcoins are converted from Electricity by Bitcoin Mining Machines every ten minutes. Its simply a store of Economic Value. And their rarity and desirability drives up the value.
Richard Green thats my point, the only reason UK and US are pushing this is because they have no GOLD😂..so they are making way for digital Currency...I dont trust it, now they track all your money .Government can take my..you can no longer hide funds for a rainy day...another way of control
Yup. real talk right here. We are still very early. Right now is the biggest opportunity to get in DUE to volatile movements and cause these prices are very cheap compared to what we'll see 3+ years from now. 50 billion to 300+ billion mcap in less than a year is insane.
@ Goddsun Africanmack'Nz: The USD is not backed by gold either. In fact I don't believe the EUR or Yen are backed by gold either. So what's your point? You would rather hold fiat not backed by gold rather than bitcoin which is not backed by gold? As far as courts "just taking money from your bitcoin account", it is obvious you are not at all familiar with how bitcoin works or what it is. You seem to be confusing online accounts with an exchange with holding and owning bitcoin, but these are different things. If you control your own private keys and have them locked up or secure offline, no one, absolutely no person, government, business or any other entity can "take money from your account". It is impossible if you have the private key. If you have it locked up offline the only way possible for anyone else to access your funds would be by stealing your private key. If you have it in a bank safety deposit box, they would have to rob the bank, break into the vault, break open your safety deposit box, retrieve the paper wallet, import the private key.
that graph is an exponential curve which is how bitcoin is expected to grow given it's deflationary nature and ease of ownership.
Edit: Security and revolutionary technology is underpinning that growth. It's like saying there's nothing underpinning the growth of the internet in the 1990's. What the heck is underpinning the growth of gold?
They're used to their way of making money. They want things to be how it is, but don't want to accept the speed of technology and where it's taking us. Basically saying.. they want to stay rich and they want the poor to stay poor.
Bitcoin used to be used on the darknet where people would buy drugs with it. Now because the value of it rises and falls and it becomes to look like a stock, and to me it seems one kid in class yelled he wanted and now everybody wants in
It's funny to listen to fans of something, they believe to be perfect. Do you hold Bitcoin in your hand? Nope. If you human beings are responsible for accessing or controlling financial... anything, watch out. Bitcoin cannot exist without human involvement.
@Bank It: your above statement that exchanges are no different than hardware wallets is simply not true. Neither hardware wallets nor paper wallets are anything remotely like exchanges.
When you keep bitcoin on an exchange, you are putting all of your trust in that particular company to hold your keys for you. If they lose them or go bankrupt, you are out of luck. When it comes to hardware wallets like Trezor, Ledger Nano, and KeepKey, you control your own keys. As long as you keep the recovery seed safe, you can even restore your wallet with your balances on an entirely new hardware wallet. The private keys are not stored online and not subject to hacking. With paper wallets you are simply printing (offline) your private key that you generate yourself and keeping those in a safe or safety deposit box at a bank, or anywhere secure that you choose. Completely cold storage and not subject to any online hack. Also your paper wallets are not reliant on any particular company staying in business. All major exchanges could go bankrupt, but you would still have your private keys and thus your bitcoin.
Assets themselves are never bubbles. Valuations can be bubbles. Bitcoins PRICE tends to bubble and burst over and over. Yet overall the upward trend is very strongly. This is what makes the volatility less important. Calling bitcoin ITSELF a bubble is a weird word trick they are trying to pull with the ignorant public.
SPERRFEUER84 - Everyone knows how Bitcoin works, that is beside the point. Of course no one controls Bitcoin itself, it's USE is controlled. To use your logic, 'Bitcoin could exist without human involvement.' That's impossible. Everyone that owns Bitcoin, does so through some form of human control. You think MtGox theft was some anomaly that could never happen again? MtGox wasn't hacked, it crashed because the value was simply stolen by the owner who controlled the platform. Who do you think owns and runs hard wallet platforms? God?
If the price isn't in a bubble now, it's headed into one. Bubbling is what the bitcoin price does. Not freaking out when it bursts is the secret to the hodl lifestyle. I was in the red on my bitcoin position through 2014-15. The bear market after Mt.Gox was brutal. But I held, having faith in the tech, and it has paid off. I fully expect the price to bubble and burst again. And also to keep trending up overall.
almost everything you said is wrong. you dont even know how this technology works. nobody controls the bitcoin network. thats the whole idea behind it. its the first financial system that has no central controlling entity. otherwise we could stay with regular banks and paypal.
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What else is new? This is all because kids who know technology and why bitcoin is superior to banks, told their rich uncles and family members at Thanksgiving vacation time. Pretty obvious. Now watch during Christmas holidays, even bigger spike is said to happen according to people who like to make predictions. 12.5k is the new mark