Bitcoin Forum

Economy => Economics => Topic started by: chowderhead1976 on November 28, 2017, 07:06:00 PM



Title: My challenge to bitcoin
Post by: chowderhead1976 on November 28, 2017, 07:06:00 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


Title: Re: My challenge to bitcoin
Post by: Hydrogen on November 28, 2017, 08:05:08 PM
I don't want to flat out say you're wrong. You're trying to think critically, independently on your own. I strongly approve of that.

The best analogy I can think of is to cite how effective a automobile tire would be if it were made of glass. How efficient would a powerline be if it were made of wood? Our economic and financial systems have a certain degree of systemic efficiency or inefficiency. In cases where systemic inefficiency rises high enough, the system fails. Paying high taxes and having a large portion of that wealth be destroyed by inefficient budgeting/spending is the same as the Joker in the Dark Knight lighting a pile of money on fire.

This is an analogy for inefficient spending by big government.

https://i.imgur.com/d3ja9L5.gif

Over the long run it doesn't matter if fiat is backed by physical goods or gold. Systemic inefficiency makes the status quo unsustainable. When the united states spends $6.5 trillion dollars on war, it needs positive tangible gains to show for it. Else, it could be categorized under destruction of wealth. The same with healthcare. Americans passed 20 tax hikes spending $2 trillion on the affordable care act. Were there many positive tangible gains to show for it? Spending trillions of dollars to fix things that never get fixed, catches up with even the richest nation on earth, eventually.


Title: Re: My challenge to bitcoin
Post by: Alalex on January 13, 2018, 07:14:48 AM
           Cripto money now. Trust no challenge dibitcoin, all goes in line with the hope that we know that we only follow the approved rules. Given for the assessment of ourselves how often we can follow the contract that we do. We are given a big reward so we have to prepare an agreed task. Running a contract job is an obligation of all that has been approved, because this is a business trip with a large corporate contract in cripto.
If we are looking for assets in the market of cripto money we jga must meet, so that our investment efforts are going well. I see a lot of the procedures that apply in the rules of cripto money market.


Title: Re: My challenge to bitcoin
Post by: HabBear on January 13, 2018, 07:19:56 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

I'm confused, what part of the summary explains why you don't like Bitcoin?

All you're talking about is the US Dollar and how the US has so much debt that the Dollar is backed by debt. You claim that people seem to ignore this fact. Which may be true, maybe not. The reason people see this debt-backed approach as dangerous is that it builds a house of cards that is so delicate that something as simple as people buying houses they cannot afford can nearly bring the entire system down. When all the banks are operating on debt, it doesn't take many of the debt owners to come collecting before a lot of people are left broke. The system is broken. Bitcoin is a good step toward a better option.

How does this have anything to do with your negative thoughts on Bitcoin? ...your challenge?


Title: Re: My challenge to bitcoin
Post by: rerek007 on January 23, 2018, 01:34:45 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin challenge my life I'm getting more patient and aggressive  have interest for everythinh


Title: Re: My challenge to bitcoin
Post by: Agaton on January 23, 2018, 03:23:32 AM
Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.


Title: Re: My challenge to bitcoin
Post by: andrei56 on January 23, 2018, 04:50:00 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

If you want to see the dollar as backed by all the material possessions of the US including everything in its territory including the people you are not wrong, but the reason it is not seen as such is the ability of governments of printing more of it without any backing, think about it in this way what if all the wealth of the US could be represented by a dollar, but then the government decides to print another dollar, the resources backing the dollar have not gone up but now there is an extra dollar so everything was devalued to 50% of its original value. 


Title: Re: My challenge to bitcoin
Post by: mrtryonebiggums on January 23, 2018, 05:38:23 AM
You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.


Title: Re: My challenge to bitcoin
Post by: ladydark on January 23, 2018, 06:04:57 AM
I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.


Title: Re: My challenge to bitcoin
Post by: andrei56 on January 28, 2018, 04:23:02 AM
I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.
If that were to happen the US only has to back their dollars by the amount of gold they have, they cannot go bankrupt, this is what Nixon did in the seventies, the French government realized there were more dollars than gold, but the US government did not adjust the price, so they could buy gold for cheap until Nixon decided to stop the conversion of the dollars for gold and then it was decided the dollar was no longer backed by gold.


Title: Re: My challenge to bitcoin
Post by: trecore4 on January 28, 2018, 04:57:52 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


This is way lot confusing post. I tried to read it thrive in real with my eyes wide open. I believe you don't like bitcoin  at all because you think that there is no competition of your USD with the bitcoin in terms of how they are backed up with different assets. Agree on that but it's not completely true. The way it seem easier to manage all those backed assets, but it's not the case in reality. The banks work on the principles of liquid money and it flows multi direction all the team. While on the other hand bitcoin is unidirectional and it just work on the principles of peer to peer transfers. The backing doesn't really matter here because what bitcoin has got is the money that we are pushing into it.

That's my understanding about it. There might be no comparison between to as they have different principle of working.


Title: Re: My challenge to bitcoin
Post by: Yakamoto on January 28, 2018, 05:01:50 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8
Who's going to back it though? What is there to back beyond having something that requires a ton of electricity and computing hardware to use? There is no central authority to back Bitcoin in any way and the closest you can get to backing it is by having the computing labor back the value of Bitcoin. The debt made by central banks is unsustainable and there is never going to be any way to resolve it all since there is basically more debt in the world than can ever be paid off. It's backed by the constant labor of everyone else that can never really be cashed in either, similar to how Bitcoin will never let you cash in on the computing power used to make it. It's just a token of the energy required to produce a new unit of currency.


Title: Re: My challenge to bitcoin
Post by: cpfreeplz on January 28, 2018, 05:03:05 AM
Bravo. A debt backed currency. I 100% agree. Now are you trying to make this sounds like a good thing? Because in reality it's a clusterfuck in a hurricane. Nothing will ever survive by having more and more debt as time goes on. You can only print so much money until your currency and debt is completely worthless and you get liquidated. Maybe you should switch over before that happens. Either way idc, I'm in. If you don't understand it then we'll just see you in 10 years when you have to understand it to survive.


Title: Re: My challenge to bitcoin
Post by: Ararbermas on January 28, 2018, 06:35:53 AM
Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.
you're not reading mate.  Op is talking about the currency not the circumstance of the forum, i think you should understand first what is op talking about before you complain. Cause there's a chance maybe the things you said will happen to you cause its seems you're post is not related on this thread.


Title: Re: My challenge to bitcoin
Post by: 2Godbdglory on January 28, 2018, 08:35:25 AM
My challenge to bitcoin? Everybody sees tthing with eyes at different angles and perspectives. What some did successfull some peoples failed, there4 we are the challenge behind bitcoin


Title: Re: My challenge to bitcoin
Post by: Jeremiesaranza on January 28, 2018, 08:49:21 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin challenges me fo r being more patient effort and be contented  what I have more interested .. Bitcoin gives everything in my life


Title: Re: My challenge to bitcoin
Post by: lemuelosana on January 28, 2018, 03:52:40 PM
           Cripto money now. Trust no challenge dibitcoin, all goes in line with the hope that we know that we only follow the approved rules. Given for the assessment of ourselves how often we can follow the contract that we do. We are given a big reward so we have to prepare an agreed task. Running a contract job is an obligation of all that has been approved, because this is a business trip with a large corporate contract in cripto.
If we are looking for assets in the market of cripto money we jga must meet, so that our investment efforts are going well. I see a lot of the procedures that apply in the rules of cripto money market.

Bitcoin challenge me to have patience in all aspects. I challenge on how to be contented in all the things i have right now.


Title: Re: My challenge to bitcoin
Post by: Leane Lee Natividad Cuenc on January 28, 2018, 04:14:23 PM
           Cripto money now. Trust no challenge dibitcoin, all goes in line with the hope that we know that we only follow the approved rules. Given for the assessment of ourselves how often we can follow the contract that we do. We are given a big reward so we have to prepare an agreed task. Running a contract job is an obligation of all that has been approved, because this is a business trip with a large corporate contract in cripto.
If we are looking for assets in the market of cripto money we jga must meet, so that our investment efforts are going well. I see a lot of the procedures that apply in the rules of cripto money market.
I agree...as long as we follow the rules and regulation of bitcoin at the end we have reward if we continue our task...my challenge in bitcoin is to be patient in everything you do..as i can see a lot of procedures that to apply inthe rules of crypto money market.all we can do is just to trust Bitcoin..and just prepare for the risk.


Title: Re: My challenge to bitcoin
Post by: yvonnegalvan on January 28, 2018, 04:26:43 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

The bitcoin challenges for me is by having an effort and patient by posting in bitcoin, to be clearly by answering the questions.I'm a student so that I can't post everyday because I need to focus on my study just like 60% on my study and 40% by posting in bitcoin.


Title: Re: My challenge to bitcoin
Post by: andrei56 on February 03, 2018, 01:07:39 AM
Bravo. A debt backed currency. I 100% agree. Now are you trying to make this sounds like a good thing? Because in reality it's a clusterfuck in a hurricane. Nothing will ever survive by having more and more debt as time goes on. You can only print so much money until your currency and debt is completely worthless and you get liquidated. Maybe you should switch over before that happens. Either way idc, I'm in. If you don't understand it then we'll just see you in 10 years when you have to understand it to survive.
Correct, countries function under the same rules as regular people even if they do not want to believe it, if a person spends more money than he has then that person will eventually lose everything he has and will have to declare bankruptcy, governments are the same except the scale is bigger but the same principle applies so a debt based currency is doom to fail, it does not matter if it happens tomorrow or in a hundred years it will happen eventually.


Title: Re: My challenge to bitcoin
Post by: binting on February 03, 2018, 02:13:58 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Well my challenge in bitcoin to answering a lot of questions and investing, to earning more coins so that bitcoin is the best challenging that your answers other thrades and different questions so bitcoin is the best challenging to overcome your poverty


Title: Re: My challenge to bitcoin
Post by: destroyer01 on February 03, 2018, 04:20:15 PM
We have to be careful posting. You need knowledge in bitcoin.


Title: Re: My challenge to bitcoin
Post by: cordeta on February 03, 2018, 04:27:36 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


You really forgot that Bitcoin is backed with blockchain technologies. Bitcoin serves as the leader in promoting technological improvements. Bitcoin was the start-up of everything, the beginning . and you cannot tell the investors to back out because Bitcoin already took the scene and lots and lots of people are really aware of what bitcoin and all the other crypto currency could bring to them.


Title: Re: My challenge to bitcoin
Post by: fanbeila on February 04, 2018, 11:55:17 AM
Its really surprising to see some one preferring USD instead of bitcoin.We all know that USD is almost in its final stage of enjoying global reserve currency.Its value is mainly due to OPEC nations decision to only sell crude oil in dollars.If all of a sudden,they stop accepting USD,then USD would face a huge crash.Also,USD being printed infinitely is subject to deflation out of which is bitcoin is totally free due to its limited supply.


Title: Re: My challenge to bitcoin
Post by: ViceKing on February 10, 2018, 05:31:50 PM
Yes....
 
My challenge to bitcoin because I'm investing bitcoin and maining and eran money.
Crypto currency market Price bitcoin level up and i trust bitcoin 500$ up
My challenge bitcoin but i am interest and all people follow them bitcoin.



Title: Re: My challenge to bitcoin
Post by: Bolt Brownie on February 10, 2018, 06:15:08 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


I think that it's precisely because of that reason (fiat being backed by debt), that puts the hole system at risk. The financial crisis back in 2007-2008, was caused by the US housing bubble burst. Banks were giving risky loans, everyone was buying a house, the prices of the houses kept going up, people start investing in the house market at huge prices, and when it burst, the houses were worth less than the loans that were previously offered, and everyone lost money. Since banks can print money at will, they can then make risky loans. If their money were backed by something real, and not the debt itself, then they would not have loaned so much money, and maybe the house bubble wouldn't have been created, because people weren't buying so much houses in the first place.


Title: Re: My challenge to bitcoin
Post by: BillCoin on February 10, 2018, 08:04:30 PM
USD is not backed by houses and assets as you just stated.
Of course USD can buy assets and houses, but the US government don't need to have X amount of assets/houses in order to produce and print more dollars, that's actually the reason that people afraid of.
We afraid that the national debt will become so high that the US government would need to print more and more money and we will enter hyperinflation mode- a situation where the country's financial system is out of control and it has to override the fixed inflation rate in order to survive.
Gold-backed fiat could be the solution for everything, as it would be impossible to enter such debts, as the country would need to own gold stocks at the same amount of money.


Title: Re: My challenge to bitcoin
Post by: emanjun on February 11, 2018, 06:10:00 AM
           Cripto money now. Trust no challenge dibitcoin, all goes in line with the hope that we know that we only follow the approved rules. Given for the assessment of ourselves how often we can follow the contract that we do. We are given a big reward so we have to prepare an agreed task. Running a contract job is an obligation of all that has been approved, because this is a business trip with a large corporate contract in cripto.
If we are looking for assets in the market of cripto money we jga must meet, so that our investment efforts are going well. I see a lot of the procedures that apply in the rules of cripto money market.


Yeah, in bitcoin we do have to follow the approved rules, it might be simple but we always have still to consider
it..our invested efforts soon will be paid off. Lets just add some hardworks to this...


Title: Re: My challenge to bitcoin
Post by: Polipog on February 11, 2018, 07:23:23 AM
The person made on this particular question is not totally believe on bitcoin, and they mentioned and talking about U.S dollar as a debt back currency. Well sounds like good. But talking about the value, bitcoin is more higher compare to U.S dollar and what is wrong that someone did not believe the life cycle of bitcoin as the number one cryptocurrency around the world.


Title: Re: My challenge to bitcoin
Post by: jefbigbob70 on February 28, 2018, 01:37:45 PM
Bravo. A debt backed currency. I 100% agree. Now are you trying to make this sounds like a good thing? Because in reality it's a clusterfuck in a hurricane. Nothing will ever survive by having more and more debt as time goes on. You can only print so much money until your currency and debt is completely worthless and you get liquidated. Maybe you should switch over before that happens. Either way idc, I'm in. If you don't understand it then we'll just see you in 10 years when you have to understand it to survive.

My 5 cents: that if the government sharply reduces its debt with the help of high inflation, bitcoin can not have this.


Title: Re: My challenge to bitcoin
Post by: gamalzour on March 03, 2018, 05:21:34 AM
Dude what I have to say to you is that all you have said now makes no absolute sense. Yes, it makes no sense to me at all. What do you mean the US dollar is a debt backed currency, do you even think at all before saying all these nonsense. Money is a medium of exchange and if itís backed by debt, then what is that debt? Explain what you mean by debt and how the US dollar is being backed by debt. Do you even know the meaning of debt, cause it seems like you donít. Yes, I like Bitcoin but that doesnít mean I should be saying rubbish.


Title: Re: My challenge to bitcoin
Post by: 19spawnfeed on March 03, 2018, 10:20:08 AM
Dude what I have to say to you is that all you have said now makes no absolute sense. Yes, it makes no sense to me at all. What do you mean the US dollar is a debt backed currency, do you even think at all before saying all these nonsense. Money is a medium of exchange and if itís backed by debt, then what is that debt? Explain what you mean by debt and how the US dollar is being backed by debt. Do you even know the meaning of debt, cause it seems like you donít. Yes, I like Bitcoin but that doesnít mean I should be saying rubbish.

My most challenge in bitcoin on how to prevent negative trust, if you got negative trust it's hard to apply in all types of campaign because no one would trusted you. My other challenge in bitcoin is too hard to get merit because I'm at developing stage in terms of quality post. I use my patients until I've learned more about bitcoin.


Title: Re: My challenge to bitcoin
Post by: Bugsbey on May 01, 2018, 12:49:39 AM
I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.
Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.


Title: Re: My challenge to bitcoin
Post by: horrifiedx1 on May 01, 2018, 03:57:15 AM
I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.
Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.
indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases


Title: Re: My challenge to bitcoin
Post by: deisik on May 01, 2018, 06:37:01 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

A short answer is as follows:

Gold is a limited resource while fiat money can be created at will. So there are drawbacks with both gold and fiat in this regard. A limited resource (so-called hard money) can become more or less limited tomorrow independently from what monetary authorities think appropriate but fiat money is prone to excessive printing by these authorities as well. Technically, you can't equal these two forms of money in terms of their backup, though I partially agree with you that fiat is sort of backed up by debt (to a degree). The problem is when governments go nuts about printing more money, then this backup fails terribly. It is like miners discovering a Manhattan-sized gold nugget


Title: Re: My challenge to bitcoin
Post by: miroslavt on May 01, 2018, 06:44:37 AM
It is not very surprising that some people are not able to digest the huge price value of bitcoins as the concept is still new. With time, people will start believing it more.


Title: Re: My challenge to bitcoin
Post by: Panpan66L on May 01, 2018, 06:50:26 AM
Bitcoin not dead, always some people will find a way to get profit from this cryptocurrency. Someway. Somehow. Always.


Title: Re: My challenge to bitcoin
Post by: bengsabeng on May 01, 2018, 07:07:48 AM
I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.
Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.
indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases
bitcoin in my country is still not officially legalized, I wonder what the reason the government still has not legalized bitcoin. whether there will be a negative impact from the bitcoin legality?


Title: Re: My challenge to bitcoin
Post by: Jonsnowstark on May 01, 2018, 08:30:51 AM
The only difference between bitcoin and the US dollar is that the US dollar as you said is backed by debt while bitcoin is backed by the law of supply and demand. The more people wants it the more price goes up. The lesser the supply there is, the more the price will zoom up. The  US dollar supply is not limited, they are controlled by the central bank and the government.


Title: Re: My challenge to bitcoin
Post by: charlotte04 on May 01, 2018, 08:54:51 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


As I see the government will try to print as many fiat as they can and that would lead to a global disaster someday.


Title: Re: My challenge to bitcoin
Post by: carlisle1 on May 01, 2018, 08:55:40 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Where's the connection about 'whats you dont like about bitcoin'?maybe its better to change the topic on what i hate from you,since youre a critic of your own..criticism is normal in the sense that it's helpful but about that video?well i dont see anything so better stop you're criticizing and focus on your studies lol


Title: Re: My challenge to bitcoin
Post by: Dewao on May 01, 2018, 11:25:38 AM
I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.
Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.
indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases
bitcoin in my country is still not officially legalized, I wonder what the reason the government still has not legalized bitcoin. whether there will be a negative impact from the bitcoin legality?

Well all I can see the reason why other government still didn't legalized bitcoin is because of scam, there are a lot of scammers that use the name of bitcoin just to get money from others.


Title: Re: My challenge to bitcoin
Post by: Markyway88 on May 01, 2018, 01:12:25 PM
Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.
With those bright sides I found in this thread, I saw a little dirt of it. Please stop spamming the forum by replying an idea that does not relevant to the topic. It is too much obvious that your reply is really far from what the OP wants to convey to us. The OP talked about why he did not want the bitcoin and not the bitcointalk.
For the OP, I can't see also a connection between what you said in your video in your topic. I believe that bitcoin is much better than dollars. Dollar inflates time per time and the worst, the price moves down and never bounced back unlike with bitcoin. You should not underestimate the bitcoin because even dollars (one of the strongest currency in the world) has downturn.


Title: Re: My challenge to bitcoin
Post by: gabmen on May 01, 2018, 01:40:40 PM
I hope that every country follows the rule of printing their national currencies based on the value of gold they hold as reserve except US.It's said that if all of the USD returned at once and asked to pay for it in return as gold,US would go bankrupt.So it's quite natural that in such a case,people would chose a better currency which they could hold themselves and which could not be neither controlled by the government nor could be devalued.That's why,people chose bitcoin which could neither be even hacked unless private keys revealed.Being a decentralized currency,it's value is totally based on the trust which people keep over it.
Yes, it is so true. Dollar and other fiat money are backed up by gold, and that the bank prints money in accordance to the country's value of gold. But for bitcoin, it is backed by people supporting it. The more people use it, the more and the higher will be its value and the more valuable it is.
indeed price and existence of bitcoin is supported purely of supply and demand, and there is no such thing as gold. so now if bitcoin is legalized in many countries then price will also increase as demand increases
bitcoin in my country is still not officially legalized, I wonder what the reason the government still has not legalized bitcoin. whether there will be a negative impact from the bitcoin legality?

Well all I can see the reason why other government still didn't legalized bitcoin is because of scam, there are a lot of scammers that use the name of bitcoin just to get money from others.

Well that goes to show that bitcoin or crypto, will make it well through to the future. People will realize that potential of crypto and now is just thr beginning. The more awareness spreads, the people will shift to something that gives them control over their own money. Governments and banks are afraid of this but it's inevitable


Title: Re: My challenge to bitcoin
Post by: sserge009 on May 01, 2018, 05:27:31 PM
Still not fully up to the end on which the bitcoin is developing. Because of the hype in the past year, the accent in crypto has shifted towards trading, but the situation may still change. Bitcoin has all the attributes that would become the world's new currency standards.


Title: Re: My challenge to bitcoin
Post by: osh5 on May 01, 2018, 05:37:07 PM
Bitcoin is completely independent based on block chain technology. Fiat money fluctuates and Government decides on the expenditure fields for it. Also sole authority is responsible for the printing of the dollars. On the other hand Bitcoin is independent of all such things and not to mention the transactions made through it are so much less in fees and helps to reduce overall costs.
You have the right to say your choice but sill if you look carefully Bitcoin has far more qualities than flaws.


Title: Re: My challenge to bitcoin
Post by: Pelevelyl on May 01, 2018, 05:48:00 PM
Everything is normal, you are not mistaken in anything, with the dollar will be fine, as well as with bitcoin.


Title: Re: My challenge to bitcoin
Post by: brainryan on May 01, 2018, 05:58:11 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency. 
https://www.youtube.com/watch?v=jujwQkhnoU8
Bitcoin is so different from the rest of the currency that is circulating in the contemporary times. Your point of view is "do not like bitcoin" showing the domination and conservatism of negative-minded thinking. Not necessarily the existence of the US dollar is just a dominance and represent the economy and strength of a country. It is also a unification of positions related to politics and alliances.


Title: Re: My challenge to bitcoin
Post by: Tan_avia)vl. on May 01, 2018, 06:08:36 PM
I'll visit very understand, so what currency do you support? The society develops and together with it the main exchange currency develops. Used to change goods for goods, then jewelry, food, etc. then reached the global currency, which also transformed with time. Today we are living an interesting time-we are witnessing the creation of another currency exchange.


Title: Re: My challenge to bitcoin
Post by: Monnt on May 05, 2018, 06:33:48 AM
It is not very surprising that some people are not able to digest the huge price value of bitcoins as the concept is still new. With time, people will start believing it more.
I wonít say that the concept is new. It is not a new thing anymore. Bitcoin ad the whole digital market has been with us for decades now so definitely there is no novelty element in it anymore. The real scenario is people are a way too late in discovering bitcoin and that is their own fault. They are not interested in the evolving technology and are ignorant about the inventions of computer world.


Title: Re: My challenge to bitcoin
Post by: Idrisu on May 05, 2018, 07:09:19 AM
Bitcoin is more of a currency than every form of money and no financial system that has a back up like bitcoin. Bitcoin is being back up by computers power and trust.  Just imagine a system that is decentralized and people are using it like this is it not imagine?


Title: Re: My challenge to bitcoin
Post by: Homaun Kabir on May 05, 2018, 07:17:02 AM
We should be careful to post your knowledge about Bitcoin. Bitcoin is a medium that can be successful if you follow the rules of this forum and be more vigilant if you want to make more progress.


Title: Re: My challenge to bitcoin
Post by: kauban2018 on May 31, 2018, 11:50:23 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


Bitcoin shows a good system to everyone who joined the campaign, it is not just about the US dollar that have backed by debt. Bitcoin is different from the others, you will learn not just the business itself but the values as well. Like, being patient in every post that you will have because some will be deleted so you need to fill in again, the willingness and the passion to do hardwork in order for you to earn extra income, also the politeness to understand the others opinion.


Title: Re: My challenge to bitcoin
Post by: Eliyo on May 31, 2018, 03:15:17 PM
Its not a matter of you being wrong, its just your opinion. The world over, national fiat currencies are economically debt backed as a means of synthesizing the cyclic flow of productive activities. You may have your reservations about bitcoin but don't feel bad. Perfect systems today started as imperfect systems years ago, so the issues of regulations among others would over times be revamped to a more convenient and acceptable stage. Just keep faith.


Title: Re: My challenge to bitcoin
Post by: Bitcoinsupervisor on May 31, 2018, 03:19:14 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin is better than a dollar. Sooner or later the dollar will collapse.
Instead of the dollar, the government plans to introduce a new currency.


Title: Re: My challenge to bitcoin
Post by: isidrorex on May 31, 2018, 04:07:39 PM
I can't see the part on your explaination on why do you hate Bitcoin but I believe that you don't trust Bitcoin and still believes in real money. Digital Money or Paper Money? that is a great comparison, but we can't change the fact that Bitcoin and cryptocurrency has a greaat future ahead and everyday they attract more and more investors but even though the success can be seen beforehand, I don't think paper money will be left out through out the world.


Title: Re: My challenge to bitcoin
Post by: Kiss me on May 31, 2018, 05:27:59 PM
I think the biggest challenge is to find a bounty campaign that is not a scam


Title: Re: My challenge to bitcoin
Post by: crisanto01 on May 31, 2018, 05:58:03 PM
I think the biggest challenge is to find a bounty campaign that is not a scam
I don't think that it is a challenge, we can always find a bounty campaign which are great and legit we just need to find out and investigate things, make ways for you to find out, if others can predict and can tell if a certain ICO was just a scam then we can also do it in ourselves.


Title: Re: My challenge to bitcoin
Post by: coinadon on May 31, 2018, 06:49:40 PM
You will only be destroyed if using the method.
You better control your emotions In trading, Because it is the key to success to get the optimal profit.

Take control of emotions, And be prepared to be pursued profit. Good luck


Title: Re: My challenge to bitcoin
Post by: vlad230 on May 31, 2018, 07:40:13 PM
The whole purpose of bitcoin is to be decentralised and not be subject to government interventions like manipulating inflation or worse, in some countries, controlling the exchange rate with the main currencies.

Take a look at what is happening in Venezuela or Cuba. People there earn money with which they cannot but the same suff from month to month (they buy less items with each pay check). Also for these countries in particular, the currency exchange is controlled in the sense that it is a fixed exchange rate controlled by the government so, you can't afford or you're not allowed to buy other currencies.

Comparing their FIAT with Bitcoin seems the freedom they need, right?


Title: Re: My challenge to bitcoin
Post by: Blue Bell on June 01, 2018, 07:48:53 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin is better than a dollar. Sooner or later the dollar will collapse.
Instead of the dollar, the government plans to introduce a new currency.
Yeah bitcoin is much better than dollar and it has more capacity than faith money like rupee and dollar, now a day bitcoin has more profit than any other currency as it is being use as an investment as well to any for goods online, everything that money has been doing is now happening with bitcoin along with high profit and saving so all these things makes bitcoin more valuable than dollar and other currency.


Title: Re: My challenge to bitcoin
Post by: Uno17 on June 13, 2018, 11:46:50 AM
My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.


Title: Re: My challenge to bitcoin
Post by: Jedzkie050617 on June 13, 2018, 12:29:53 PM
My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.
My challenges in bitcoin was nit that bad. I just invest small amount and turned out to not profitable. Good experience are more than bad experiences I esrn so much for my family specialy in projects that I join It usually turned out in positive outcome.


Title: Re: My challenge to bitcoin
Post by: kipo on June 13, 2018, 12:35:13 PM
Today there are quite a few bitcoins on the market. This leads to the fact that any transaction for a large amount can significantly affect the course of the crypto currency. Often this entails significant losses. On the other hand, this is an excellent opportunity to make money on these fluctuations.


Title: Re: My challenge to bitcoin
Post by: PerLasz on June 13, 2018, 12:36:29 PM
I don't see bitcoin as the problem to economic growth and to fiat destruction. Bitcoin have risk and also benefits. For now dollar is the standard basis of measurement on bitcoin value that we can identify its price on the market.


Title: Re: My challenge to bitcoin
Post by: FiveReels on June 13, 2018, 12:39:13 PM
Challenge all day! all i want, is to earn profit, but daily trading are not effective this days because the value are drowning at the bottom, There's no assurance that the value started to recover. How I wish bull run takes place everyday. I just keep holding for the possible things may bounces back, and harvest good amount:)


Title: Re: My challenge to bitcoin
Post by: pey on June 13, 2018, 01:01:03 PM
I also don't like bitcoin, don't totally satisfied with it but it is clear that it is better than usd and gold that's why it is my choice.


Title: Re: My challenge to bitcoin
Post by: Bugsbey on June 13, 2018, 01:06:50 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


This is way lot confusing post. I tried to read it thrive in real with my eyes wide open. I believe you don't like bitcoin  at all because you think that there is no competition of your USD with the bitcoin in terms of how they are backed up with different assets. Agree on that but it's not completely true. The way it seem easier to manage all those backed assets, but it's not the case in reality. The banks work on the principles of liquid money and it flows multi direction all the team. While on the other hand bitcoin is unidirectional and it just work on the principles of peer to peer transfers. The backing doesn't really matter here because what bitcoin has got is the money that we are pushing into it.

That's my understanding about it. There might be no comparison between to as they have different principle of working.
It is so true. Bitcoin cannot be compared with the fiat money. Bitcoin as I see it, the purpose is more on investment while fiat still is very useful in our daily needs. Although bitcoin is now used for other transactions but more people are investing it.


Title: Re: My challenge to bitcoin
Post by: squog on June 13, 2018, 01:12:43 PM
I don't know about that but I'm still hanging on to BTC and other crypto currencies in the market. Also, i would.like to think that BTC will be all that we dreamed it would be, a currency like no other uncontrolled by one man. I might be naive in saying this and i don't evrn have the evidence or the facts to back it up.


Title: Re: My challenge to bitcoin
Post by: t2yax on June 13, 2018, 01:20:06 PM
Just like any currency of each and every country, and also like bitcoin, we see how volatile it is. We see how the value goes on its highest peak. We cant just imagine what will happen on the year end. We know how bitcoin value goes low, and we thought like dollars. Forex investor trust dollars, because it goes very high and can sell them in the right time.


Title: Re: My challenge to bitcoin
Post by: tarable on June 13, 2018, 01:29:52 PM
My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.
everyone here I think of course have a fairly high price decline, and it makes their panic. so we also have to overcome it with a sense of calm


Title: Re: My challenge to bitcoin
Post by: Janation on June 13, 2018, 01:31:31 PM
I also don't like bitcoin, don't totally satisfied with it but it is clear that it is better than usd and gold that's why it is my choice.

I don't know why you dislike Bitcoin though we all know Bitcoin is still not that developed though even though I like Bitcoin, I don't think that it is better than Gold more importantly than USD or any Fiats. Fiats and Gold are still far more better than Bitcoin since these two are always used by a lot of people and they are trusted assets by a lot of investors unlike Bitcoin.


Title: Re: My challenge to bitcoin
Post by: santino11 on June 13, 2018, 01:46:59 PM
My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.

We are seeing bitcoin price now decreasing and continue to fall.
but we have witnessed also the time it rises in the market.
not just 1000% up but more, and people are happy with it, but now bitcoin is falling and then they are asking like that.


Title: Re: My challenge to bitcoin
Post by: Biggapp on June 13, 2018, 10:12:51 PM
I don't know about that but I'm still hanging on to BTC and other crypto currencies in the market. Also, i would.like to think that BTC will be all that we dreamed it would be, a currency like no other uncontrolled by one man. I might be naive in saying this and i don't evrn have the evidence or the facts to back it up.
Man what else you want if you are getting money you intend to get. Besides, we have been hearing about the technology like Bitcoin as decentralized and if you say it is backed by dollars, you should also provide some solid evidence. Just claiming and calling a crypto currency being backed by US dollar is not enough. Even still almost many people are happy with their holdings and have been earning good.


Title: Re: My challenge to bitcoin
Post by: mulia tani on June 13, 2018, 10:23:26 PM
so many people to this day do not like bitcoin just like you, but for me this bitcoin is one that can earn bigger profit than gold and US dollar, which i do not like bitcoin ie no fixed price stability


Title: Re: My challenge to bitcoin
Post by: fishball on June 16, 2018, 02:23:37 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


Bitcoin has been independent and it helps us independently. We get money from it though it is decentralized so why saying it is backed up by dollar.


Title: Re: My challenge to bitcoin
Post by: codegnome on June 29, 2018, 03:25:38 PM
I don't see bitcoin as the problem to economic growth and to fiat destruction. Bitcoin have risk and also benefits. For now dollar is the standard basis of measurement on bitcoin value that we can identify its price on the market.

Yes, I think the same, for now of course we don't see problems with this.


Title: Re: My challenge to bitcoin
Post by: didik12 on July 03, 2018, 06:17:37 AM
To become a stable price because if bitcoin is stable we feel comfortable and no doubt to our price of bitcoin. And they have possibility that the other investors invest in bitcoin because no doubt in the price btc because stable. And the price is consistent to become higher.


Title: Re: My challenge to bitcoin
Post by: crazy-pilot on July 09, 2018, 09:51:15 AM
Yes you are right. In addition, the volatility of the dollar is quite insignificant in comparison with the crypto-currencies. I will believe that the dollar is worse than bitcoin only after bitcoin has turned into a full currency.


Title: Re: My challenge to bitcoin
Post by: patarfweefwee on July 09, 2018, 10:14:41 AM
We all have our opinions about something's be it good or bad. True that fiat is actually backed up that's why it is called a trust. But i think bitcoin and other crypto currencies are back up by people who wants to buy it much like gold and silver which we use mostly as an accessory. We dictate prices.


Title: Re: My challenge to bitcoin
Post by: luckyluigi on July 09, 2018, 03:21:02 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Hopefully your video would not be the thing which contributes to the global bitcoin dump, because I am strictly persuaded that the more we have those videos or those rumours, the lower the price came.


Title: Re: My challenge to bitcoin
Post by: ericaltm on July 09, 2018, 04:06:21 PM
The idea that a currency should be backed by something comes from the old times. I am not saying it is good or bad but read carefully here. Currencies.

I disapprove that crypto (in most cases) should actually be used as a currency. My opinion and standpoint are that we consider them as stocks of a certain project.
So; You think the developers of Bitcoin will make the crypto better? Yes, invest. No, don't invest.

Because if it the simplicity of blockchain technology the TRANSFER of these 'stocks' (cryptocurrencies) is very easy, therefore we can TRANSFER/TRADE these assets with each other.

Think back many years. People traded shells for cows (an example) because someone wanted shells to make certain products and the other person wanted a cow. A cow has never been backed by gold and neither are shells.
The latter way of making transactions makes more sense to me than using a currency that is also highly dependent on the performance of your country/union.


Title: Re: My challenge to bitcoin
Post by: Whosdaddy on July 10, 2018, 10:03:55 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

I think you are totally confused man. First of all,  you said that you donít like bitcoin and next youíre saying that you donít like fiat too and that is because it backed by debt.

What are you even saying? Okay, assuming I ask you what is bitcoin backed with, what would you say? Bitcoin is backed by fiat which we the people invest in itÖ yes, thatís true, although some people will disagree. And as for fiat, fiat is not backed by debt. Correct yourself, cause youíre totally confused.


Title: Re: My challenge to bitcoin
Post by: Harpawan on July 10, 2018, 10:09:12 AM
we see how turbulent the bitcoin price is. We see how the value runs at its highest peak. We can not imagine what will happen at the end of the year. We know how bitcoin grades are low, and we think like dollars. because the price is very high and can sell it at the right time.


Title: Re: My challenge to bitcoin
Post by: Topaz72 on July 10, 2018, 10:52:37 PM
we see how turbulent the bitcoin price is. We see how the value runs at its highest peak. We can not imagine what will happen at the end of the year. We know how bitcoin grades are low, and we think like dollars. because the price is very high and can sell it at the right time.
No mater how volatile the prices are, you can still deal and earn big hand in the coin. The technology does not operate on one side and so many aspects run in your favor if there is one running against your plans. As a result, the current recovering values will rise enough to a height and might experience jumps when we will be heading towards December. Even before the last year boom, we had this ďDecember conceptĒ. So it is okay to wait till the end of the year. Something the experts say.


Title: Re: My challenge to bitcoin
Post by: slyfox on July 11, 2018, 04:24:27 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

You are completely wrong, a gold backed currency is backed by gold held by the state, the gold belongs to them and to no one else, the houses, cars and business are not backing the currency because the governments does not own them, the dollar is a fiat currency which means that is not backed by anything except the faith the US will pay its debts.


Title: Re: My challenge to bitcoin
Post by: skaynet on August 05, 2018, 04:26:38 AM
it seems that your research doesn't understand bitcoin
try to take the positive side of bitcoin and what bitcoin can do in the future
maybe it makes you rethink not to like bitcoin


Title: Re: My challenge to bitcoin
Post by: dobladonadouble on August 15, 2018, 01:30:00 PM
I think you see it wrong. Bitcoin is not backed by anything or anyone, it's just that it has a lot of components that some may interpret it wrong. US dollar is like the blood of bitcoin, but it doesn't just circulates there.


Title: Re: My challenge to bitcoin
Post by: Larva14 on August 15, 2018, 02:34:15 PM
We have to be careful posting. You need knowledge in bitcoin.
Yes we need knowledge before we start to join here cause we need to understand all the details about in bitcoin, the do's and don't in regulation of bitcoin posting.  Joining in posting you need knowledge cause there will see if you understand the topic or not.


Title: Re: My challenge to bitcoin
Post by: TIDOVEE on August 15, 2018, 02:45:02 PM
Anyway, that's your take about bitcoin and everyone has right to his or her opinion.
US dollars is priviledged to be the embraced currency of bitcoin transaction not because any other currency cannot be used but we see u
US has world center and been in charge of the workd bank.Bitcoin to me can be linked up in china currency in the stead.


Title: Re: My challenge to bitcoin
Post by: carolynmino on August 15, 2018, 03:18:35 PM
Everything is normal, you are not mistaken in anything, with the dollar will be fine, as well as with bitcoin.


Title: Re: My challenge to bitcoin
Post by: wallstone on August 15, 2018, 03:36:05 PM
I don't see bitcoin as the problem to economic growth and to fiat destruction. Bitcoin have risk and also benefits. For now dollar is the standard basis of measurement on bitcoin value that we can identify its price on the market.
Yes there's is risk in investing in bitcoin but you gain high profit in your investment this is your benefits and I don't see anything problems in our economic growth cause bitcoin dollar is standard basis measurements on bitcoin value so that it's so easy to identify the value in the market if it's down or up we see how it works in the market.


Title: Re: My challenge to bitcoin
Post by: doomloop on August 16, 2018, 08:57:07 PM
We have to be careful posting. You need knowledge in bitcoin.
Yes we need knowledge before we start to join here cause we need to understand all the details about in bitcoin, the do's and don't in regulation of bitcoin posting.  Joining in posting you need knowledge cause there will see if you understand the topic or not.
Knowledge id the first and the most important think you need to invest, if you are well are of the all feature of coin you are investing then it will be easy for you to deal it accordingly, after knowledge you need to have money and be careful while investing as a lot of scammers are here to grab you and get your money so if you will chose the right site and use wallet you will not have to face any kind of challenge.


Title: Re: My challenge to bitcoin
Post by: btcluisdiki on August 16, 2018, 10:42:15 PM
I just hope that the people who had watched your video may understand your insights but I guess somehow they too may disagree to some point since there are more advantages about btc than what you feel about btc. My challenge about btc is how to be able maintain and focus my investment in btc considering the fluctuations we had experieced in the current situation.


Title: Re: My challenge to bitcoin
Post by: lynlyn on October 02, 2018, 08:58:09 AM
Today there are quite a few bitcoins on the market. This leads to the fact that any transaction for a large amount can significantly affect the course of the crypto currency. Often this entails significant losses. On the other hand, this is an excellent opportunity to make money on these fluctuations.
Yeah, for me my challenge to bitcoin is to be stable for a span of time. Bitcoin really helps people to be self-motivated. I choose this chalenge to see what will happen in this industry.


Title: Re: My challenge to bitcoin
Post by: erikoy on October 02, 2018, 09:19:30 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Cryptocurrency is different with dollar currency. We could not just compare this two currencies. We all know about that when you say that those profit being made by the banks are real while in bitcoin is not. However, you are here in this forum which means that you have interest in bitcoin. I challenge you to walk out to this forum if you really do not like bitcoin. This forum is for bitcoiner's.


Title: Re: My challenge to bitcoin
Post by: Rastafarian on October 03, 2018, 10:50:43 AM
I am personally a fun and trader in bitcoin because of the benefits i have accumulated in the currency so far. It is seen very awesome to invest in bitcoin and see to enjoying later in the future.


Title: Re: My challenge to bitcoin
Post by: basyang on October 03, 2018, 12:23:09 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


If you will ask me if you are wrong about your opinion. I would say that your opinion is right, no opinions in bitcointalk are wrong because it is our own point of view and we can say what we want, we can analyze a different aspects about it. But I am confused if you did not like bitcoin why are you here? Or you want to know some different opinions of bitcoinist on this matter.


Title: Re: My challenge to bitcoin
Post by: vixcious on October 03, 2018, 01:00:28 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin is an electronic currency and we can still use it to pay in some places and food service. I'm guessing that your country has no more paid services by bitcoin and that is the first disadvantage. But please be patient and invest in Bitcoin, in the future Cryptocurrency will certainly spread around the world for its convenience.


Title: Re: My challenge to bitcoin
Post by: yvesp110 on October 12, 2018, 08:14:52 PM
I am personally a fun and trader in bitcoin because of the benefits i have accumulated in the currency so far. It is seen very awesome to invest in bitcoin and see to enjoying later in the future.
Yes and trust me you are so lucky having bitcoin, it is the only currency which is making good progress not only in a county but in the whole world, people are collecting even in this falling price because they knows the only way to secure your future bad days from destroying you, if you will make good investment and hold for long time, you will be happy, it is the most awesome and amazing investment ever, so invest more and make profit.


Title: Re: My challenge to bitcoin
Post by: kifumi on October 13, 2018, 01:59:20 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

i know it have a risk inventation some ur money for a bitcoins like buy high tech for mining and something place for mining like a company. because some peaople had lost the money and get dismiss the company. it more save for me to gold invest. well im agree with u dude.


Title: Re: My challenge to bitcoin
Post by: resty on October 13, 2018, 03:01:13 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8



That's is you own opinion sir we respect that because all people has the right to choose and to decide what is their aims their life, but I don't really don't know why you don't want to use bitcoin were as many people witness the good result if you adopt and embraced of bitcoin. many people here until now enjoyed and continuously being active member because of a  trusted platform willing to serve by bitcoin.


Title: Re: My challenge to bitcoin
Post by: Lumi3004 on October 13, 2018, 03:22:10 AM
I just heard this time someone doesn't like bitcoin,
But that is the opinion of each person that surely bitcoin is currently still the priority of all people throughout the world, especially America, even though the price of bitcoin is currently falling.
But I still believe that bitcoin can someday be a for many people.


Title: Re: My challenge to bitcoin
Post by: DaftAjax on October 13, 2018, 03:44:39 AM
~snip~

I'm confused, what part of the summary explains why you don't like Bitcoin?

All you're talking about is the US Dollar and how the US has so much debt that the Dollar is backed by debt. You claim that people seem to ignore this fact. Which may be true, maybe not. The reason people see this debt-backed approach as dangerous is that it builds a house of cards that is so delicate that something as simple as people buying houses they cannot afford can nearly bring the entire system down. When all the banks are operating on debt, it doesn't take many of the debt owners to come collecting before a lot of people are left broke. The system is broken. Bitcoin is a good step toward a better option.

How does this have anything to do with your negative thoughts on Bitcoin? ...your challenge?

I think you've misunderstood what the OP is saying. True he did not mentioned anything about him hating the bitcoin and 'the challenge', its just the summary, have you watched his video (probably not)?

What he's saying is a comparison of the US Dollar as debt back currency vs Bitcoin as not. As we all know, US dollar is a powerful currency it may not be the most valuable but it definitely is.

For the entirety, most people tend to Banks when buying an expensive item for instance a house, so the debt back system of banks comes into play. In fact successful people/companies always tends to banks for their financial matters. Well the simplest way to explain that system is: "take a debt and get the item NOW and pay later".

So as for Bitcoin, he didn't see this currency that way (but its decentralized, that's a big difference). Because of having a big down rate of the bitcoin price, he sees it not as a debt back (well its really not) but more of a failed 'pay $3 and get $30 later' kind of vibe.

So to conclude, if you invest in bitcoin you will be in debt (only) while if you invest to banks you might have a slight interest (not really) and pay later but will still get the item.


Title: Re: My challenge to bitcoin
Post by: spongegar on October 17, 2018, 03:21:30 AM
I really respect your view ib the matter but i totally disagree. Crypto currency is backed bu the age old principle of of supply and demand. Where people want to have it and are willing to pay for it wil get a higher price. Then again, I'm no economist so i doubt that I'm completely right about this. This is just my interpretation of it.


Title: Re: My challenge to bitcoin
Post by: Chicksteen on October 17, 2018, 05:31:48 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Hopefully your video would not be the thing which contributes to the global bitcoin dump, because I am strictly persuaded that the more we have those videos or those rumours, the lower the price came.
Even this video support on negative view, we have to study it right. I hope that it won't change the mindset of everybody and still accept the used of bitcoin. We have not change and leave bitcoin because of this video, there is still big potential from it which we benefit no matter what as we accept it. It is additional knowledge about bitcoin and how it really risk.


Title: Re: My challenge to bitcoin
Post by: LieTOme on October 17, 2018, 06:55:17 AM
Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.
the challenge of investing in crypto currency is the risk itself if we can get past the risk that we will get, of course it goes through the challenges given to the investment through challenges with confidence and patience


Title: Re: My challenge to bitcoin
Post by: breathlessz on October 17, 2018, 07:20:15 AM
Bitcoin systems are full of challenges, we must follow rules and guidlines to avoid total banned or with negative trust. It is also a big challenge on how being moving up to higher position.
the challenge of investing in crypto currency is the risk itself if we can get past the risk that we will get, of course it goes through the challenges given to the investment through challenges with confidence and patience
think the toughest challenge is personal self. with high price fluctuations, of course it is not uncommon to become greedy, or panic because prices decline. so it needs to be psychologically strong to join


Title: Re: My challenge to bitcoin
Post by: Tecmessa on October 17, 2018, 09:14:37 AM
I think that currency or cryptocurrency has a faster exchange rate than gold. However, not all countries accept cryptocurrency as a normal exchange.


Title: Re: My challenge to bitcoin
Post by: nealdlover on October 17, 2018, 05:36:29 PM
BTC is always a big challenge in today's trading market. With the speed of technological development has made the BTC more and more known. By participating, we have to understand the rules and follow the rules, understand the market today and it will be the money that brings you the most profit possible.


Title: Re: My challenge to bitcoin
Post by: nur rochid on October 18, 2018, 03:51:20 AM
BTC is always a big challenge in today's trading market. With the speed of technological development has made the BTC more and more known. By participating, we have to understand the rules and follow the rules, understand the market today and it will be the money that brings you the most profit possible.
even though it has a big risk, but with bitcoin can generate huge profits too. do not follow your will, but follow market flow that occurs, so you will remain profit consistent


Title: Re: My challenge to bitcoin
Post by: maculeth on October 18, 2018, 03:57:03 AM
you are right, but how does the dollar manipulate the currencies of other countries with increasing inflation against the exchange rate against it? bitcoin comes as a solution to overcome it all. the country where inflation is even hyperinflation which makes the exchange rate against the dollar weak, can use bitcoin because the exchange rate of bitcoin is global!


Title: Re: My challenge to bitcoin
Post by: genuin on October 18, 2018, 05:00:56 AM
USD will get worse and worse, btc is present for the bad alternative of the USD and increasing debt that is charged to everyone. We must realize that we follow the system made by the authorities. There is nothing we can do except follow the system.


Title: Re: My challenge to bitcoin
Post by: sinkfish on October 18, 2018, 06:41:18 AM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


bitcoin backed by money from all around  the world. not only USD. the only way bitcoin fail is the world economy fail all together.


Title: Re: My challenge to bitcoin
Post by: rickadone on October 18, 2018, 05:31:22 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8
You are wrong about the part that dollar is backed by a government and a country and not banks.
Yes, banks are a big part of the dollar value however government is a bigger part of it. When america gives china or whoever papers that states they will pay their debt it has a value. Would you loand 1 trillion dollars to USA or to Venezuela right now ? I would highly think you would definitely prefer giving money to USA instead of most other countries.

Yes, UK seems like a better place to give your loan, yes France might be close, Germany definitely is a good place to loan as well (not like they would need it) and so forth but USA is high on that list. Which makes dollar valuable, plus all the oil trade is done thru dollar which means people all around the world need dollars for the oil trading, oil people get paid in dollars and buyers pay in dollars so that creates a demand for it as well. Combine all of this and you get yourself a not so bad currency.

Of course, you can still prefer euro or sterling but dollar will stay top 5 currency for a long time to come until USA starts to default on their debts which I doubt will ever happen.


Title: Re: My challenge to bitcoin
Post by: upsidedown75 on October 20, 2018, 08:00:28 AM
you are right, but how does the dollar manipulate the currencies of other countries with increasing inflation against the exchange rate against it? bitcoin comes as a solution to overcome it all. the country where inflation is even hyperinflation which makes the exchange rate against the dollar weak, can use bitcoin because the exchange rate of bitcoin is global!
Well, we can see something like that happening in some parts of the world already with the trade war declared by trump which is actually affecting the economy of some of the African countries. However, this is not about USD on its own, it is simply about most of these countries, as they simply do not have what it takes to be able to stand on their own without being too dependent on the use of dollar.

Considering high level of importation than exportation which would require a whole lot of USD to make transactions, and so many other reasons that would put pressure on the economy, which is why industrialization in most places would help.


Title: Re: My challenge to bitcoin
Post by: jonatuzc on October 20, 2018, 10:50:34 AM
BTC is always a big challenge in today's trading market. With the speed of technological development has made the BTC more and more known. By participating, we have to understand the rules and follow the rules, understand the market today and it will be the money that brings you the most profit possible.
even though it has a big risk, but with bitcoin can generate huge profits too. do not follow your will, but follow market flow that occurs, so you will remain profit consistent
Everything in life is a risk and what is important as an individual is to understand the risk, analyze it and make decisions that would favor you at the end. That is the challenge I believe most people have as they find it difficult to even get used to their own environment in the first place, let alone, be able to even say they have the ability to be able to manage any risk at all.

Even if you want to do normal business in the real world, you will need to familiarize yourself with the things around that business, know all you need to and that would guide you in the decisions you end up making.


Title: Re: My challenge to bitcoin
Post by: usorin on October 20, 2018, 02:47:32 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

And where is the challenge in your post? Perhaps i have missunderstand the title of the topic.


Title: Re: My challenge to bitcoin
Post by: Globalbitcoinl on October 24, 2018, 11:41:42 AM
bitcoin can also become a currency of debt, as many lose money and enter into debt in order to buy bitcoin. and this is not good


Title: Re: My challenge to bitcoin
Post by: Nkblix on July 13, 2019, 08:44:15 AM
MY CHALLENGE TO BITCOIN ?  IS THAT IS NOT YET REGULATED ,ALSO FULL OF CHALLENGES, SOME SEE IT IN A DIFFERENCE PERSPECTIVE.


Title: Re: My challenge to bitcoin
Post by: mirawantirinjana on July 13, 2019, 01:22:59 PM
Then from what perspective do you see Bitcoin?
Because I only see it as an investment tool that will be satisfying in the future when Bitcoin has been accepted in the community as a legitimate payment instrument.


Title: Re: My challenge to bitcoin
Post by: Nhebu on July 13, 2019, 01:41:25 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


This is way lot confusing post. I tried to read it thrive in real with my eyes wide open. I believe you don't like bitcoin  at all because you think that there is no competition of your USD with the bitcoin in terms of how they are backed up with different assets. Agree on that but it's not completely true. The way it seem easier to manage all those backed assets, but it's not the case in reality. The banks work on the principles of liquid money and it flows multi direction all the team. While on the other hand bitcoin is unidirectional and it just work on the principles of peer to peer transfers. The backing doesn't really matter here because what bitcoin has got is the money that we are pushing into it.

That's my understanding about it. There might be no comparison between to as they have different principle of working.
The OP did not like bitcoin. He stress out how bitcoin differs from fiat currency. Well, in my opinion, how could a fiat get its value just through its backed up assets? Bitcoin becomes valuable because of its usage. It helps the economy also to have a fast and vast transaction. Making a unitary money policy is good at some ways also. So, why do we need to hate this new innovative currency, if it can be a substitute and will be used for a long term purpose?


Title: Re: My challenge to bitcoin
Post by: Ludmilla_rose1995 on July 13, 2019, 02:15:09 PM
You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.
I agree bitcoin does not need support from the institution or anything. Many people adopt and trust bitcoin because the payment system is very safe, easy and capable of acting as a global currency.


Title: Re: My challenge to bitcoin
Post by: iMark on July 13, 2019, 03:29:06 PM
You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.
Yeah you should know from the start, that bitcoin is not backed up by anything, there is no government support, developed economies, or the state. it's a challange for bitcoin itself, and the proof is that bitcoin is a respected currency with its innovation, bitcoin is the world's most expensive currency right now!


Title: Re: My challenge to bitcoin
Post by: imstillthebest on July 13, 2019, 05:09:14 PM
You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.
Yeah you should know from the start, that bitcoin is not backed up by anything, there is no government support, developed economies, or the state. it's a challange for bitcoin itself, and the proof is that bitcoin is a respected currency with its innovation, bitcoin is the world's most expensive currency right now!

if btc is not backed by anything then why do you think that it existed and its value is growing ? that only means that btc is backed by its devs and its also backed us supporters and investors  .

@op you dont like btc , but your making complaints about usd/fiat ? so what do you really want  ?  i already state  that btc is backed by people same as fiat  but btc is just better than fiats imo 


Title: Re: My challenge to bitcoin
Post by: Naida_BR on July 13, 2019, 05:27:42 PM
I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


I am trying to find a way of connecting your thoughts.
I agree that the us dollar is fulled from debt as banks give loans to people that would buy houses, cars etc, and when people are not able to pay back their loans they take their houses, cars x2. But how is that connected with Bitcoin? Bitcoin has nothing to do with banks' activities.


Title: Re: My challenge to bitcoin
Post by: fiulpro on July 14, 2019, 08:12:39 AM
You know , actually most of the currencies we know about are somehow backed up by something valuable or are based on the economy of the particular country , but when it comes to Bitcoins I think it's the time to shatter most probably the already made assumptions about a Currency , it is actually dependent upon the investors which inturn makes it very volatile which is a good factor for all the traders now.
I think somehow it is also essential for the economy, we have everything , we have gold , dollar , a Currency backed by valuable assets ...I think we need this too.


Title: Re: My challenge to bitcoin
Post by: Botnake on July 14, 2019, 08:23:31 AM
You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.
I agree bitcoin does not need support from the institution or anything. Many people adopt and trust bitcoin because the payment system is very safe, easy and capable of acting as a global currency.
Without institution money we will know grow, currently we are in the stage of development now and soon the market will be regulation.
Trump just announce that he does not like Bitcoin and crypto, that's a good sign that the market is growing, and because we are getting their attention that means they are monitoring the crypto space and I expect soon there will be a fair regulation for the good of the market.


Title: Re: My challenge to bitcoin
Post by: wahyu wida on July 14, 2019, 09:30:27 AM
You sir clearly don't understand what Bitcoin is. You are correct about the dollar but bitcoin doesn't need to be backed by anything, it just needs to be adopted. And a currency that is decentalized, borderless, and a peer to peer payment system well you can be sure that will get adopted quick.
I agree bitcoin does not need support from the institution or anything. Many people adopt and trust bitcoin because the payment system is very safe, easy and capable of acting as a global currency.
Without institution money we will know grow, currently we are in the stage of development now and soon the market will be regulation.
Trump just announce that he does not like Bitcoin and crypto, that's a good sign that the market is growing, and because we are getting their attention that means they are monitoring the crypto space and I expect soon there will be a fair regulation for the good of the market.
I do not understand how the market can be regulated, if the government does not agree. and how bitcoin becomes a global currency if many countries don't approve it too. and I think the development of bitcoin users will remain minimal throughout the world



Title: Re: My challenge to bitcoin
Post by: DOH! on July 14, 2019, 10:09:18 PM
Then from what perspective do you see Bitcoin?
Because I only see it as an investment tool that will be satisfying in the future when Bitcoin has been accepted in the community as a legitimate payment instrument.
Since being created to the present, despite many difficulties and doubts about the applicability in practice, Bitcoin still exists and grows extremely brilliantly. I think that using Bitcoin in the future to replace traditional forms of payment is entirely possible so obstacles to Bitcoin are getting less and less.


Title: Re: My challenge to bitcoin
Post by: MonsterV on July 15, 2019, 01:29:17 PM
Then from what perspective do you see Bitcoin?
Because I only see it as an investment tool that will be satisfying in the future when Bitcoin has been accepted in the community as a legitimate payment instrument.

I think that is a general point of view, surely many people also think of bitcoin like this. But actually bitcoin has a higher value than investment. Satoshi created bitcoin as a currency innovation that was combined with technology that had never been thought of before.
I personally consider bitcoin like that, if the OP compares bitcoin with dollars and gold I think this is a different thing because these three values cannot be equated, even have different regulations and uses.