I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?
If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?
We can touch ,smell and see the real money you may also taste it if you want. the main difference between them is that. we cannot see bitcoin and we cannot touch it unlike the real money but both we can use it to buy our needs. |
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Bitcoin is something radically new. Nothing like Bitcoin has been possible until now. I would go so far as to consider it sui generis; "in its own class". This makes it important to understand what Bitcoin actually is before we try to describe it to others. We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money. My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted] Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted] Webster's Online Dictionary defines money as: - 1. The most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us".
- 2. Wealth reckoned in terms of money; "all his money is in real estate".
- 3. The official currency issued by a government or national bank; "he changed his money into francs".
- 4. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
- 5. Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
- 6. In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.
[links omitted] [/list] I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice. But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money? yes because it has a value as well, and other coins are converting on it. it has also the highest among other currency i think it is also a money as long as we may spend it in our everyday needs. |
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Hello everyone as the title says ^
Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
i dont even recommend it that we need to store it in computer drive, it may be lost. How? simply if your computer has a virus and tend to destroy your hard drive or when your pc crashed you may difficult to recover your coins. |
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Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high. More details below: https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/Do you agree that Bitcoin will become popular in the Middle East soon?Maybe yes, everyone has a privilege to use bitcoin whenever they need it and whatever they want it. Bitcoin is for everybofy, it is for those individuals that want to earn more for their needs. |
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I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
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there's a different laws and rules in each countries we must obey and follow it in order for us not to be imprisoned or lead it to death, but if you really want to earn bitcoin you must find a way but be sure you wouldnt be jailed for it. |
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We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this
I dont know but im sure it has good enough because many people are investing on it and earning as well, so in the previous years it already build up its foundation in the cryptocurrency world. |
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We are now experiencing the efficient, fast and amazing convergence of technologies which one way or the other greatly contributing to the rise of the cryptocurrencies and making Bitcoin as the King of the Hill so far.
Looking into the future...what do you think will be the scenario involving Bitcoin twenty years from now? Will Bitcoin be worth more than a million or will it ceased to exist? Or will a new crytocurrency replace the supremacy of Bitcoin...?
I Think it will rise its value and many people with get interested on it. It will be known in all countries and they will accept it as their secondary money that in time of emergency they can withdraw it anytime they want. |
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I dont think so, maybe not cause not all people are interested on it. It depends on the interest of the people. Maybe some other wants to stay their money in banks because they can go to the banks whether they like it, and they can instantly withdraw their money. |
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So i was skeptical back in 2013 when btc made their initial splash into the mainstream radar.
I recently became interested in cryptocurrencies because i was finally able to wrap my head the ideas behind blockchain and now firmly believe it is the future.
I went out and bought some BTC, ETH and LTC
Obviously Japan recognizing BtC as a form of currency is huge but i am wondering which of these cryptocurrencies will be around in 10-20 years time.
Most holders of these cryptos are in it for purely speculative reasons and in turn, creating large bubbles.
The only way thes bubbles will resolve is from 3 things that need to happen:
-wider usage . Btc needs to be able to be used to be able to purchase anything that traditional fiat is able to. This is obviously a no brainer. Btc needs to be spread out in the hands of more people
- price needs to stabilize - the fluctuation in price is insane and needs to stabilize, in order for this to happen btc needs further distribution. Hoarders (chinese farmers and early miners) are a negative, see below.
- fiat currency needs to disappear- this is obviously a radical thought but fiat cannot be an option. The reason is, guys like the mysterious satoshi nakamoto, chinese btc farmers, the vinklevoss twins etc or anyone holding a significant amount of btc can literally tank the btc ecosystem by trading out a large sum of btc to lets say us dollars.
This would create a huge price instability, loss of public trust and then we circle back to square one.
Just wanted to share my thoughts.
I am in as a skeptical long term buyer but did want to address some possible pitfalls to btc
bitcoin has no stable value yet it has the greates and highest value nowadays. I also have other alt coins as well, because when the other alt coin rises among my other alt coins I will convert to one another, I think I will have a good profit on it. |
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Security? Crime? Inflation?
Bitcoin is money and thus serves the same functions that any money does: a medium of exchange, a unit of account, and a store of value.But can it prominently satisfy all these functions?
I think the other alt coins, or the changing value of dollars. I believe that even though alt coins are being converted unto it, some people want other alt coins rather than bitcoin, but I dont even know why. |
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Is because the name "Bitcoin" is the best name for a crypto-currency.
No other name will be as good.
it is because it has a good name in the market, every year more people get interested on it, and they have been invested some part of their money there. it has also a good value that's why. |
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Guys I know that there are previous posts and polls regarding the highly suggested source of bitcoin but things always change do I want to know what is the current best source of bitcoin nowadays. Please participate on this poll and kindly tell us why that's your choice. Thanks in advance and God bless us more  i think it is pure mining and trading why? in pure mining you may earn bitcoin without investing any money, the only thing that you must have is a pc and a gpu that has a very good specifications and you will run a software only and that's it, in trading if you have been chosen a good coin and when you sell it higher you will get a high profit. |
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Hello everyone as the title says ^
Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
i store it in my online wallet, it is trusted anyway. it has a very satisfaction feedbacks by my countrymen and it is safe I know. You may also try to save it online just make sure that the wallet you are using has a lot of users with a good feedbacks. |
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I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
because there are different rules and regulation in every countries. they have the cyber law and they can even blocked any sites they want because authorities can hold everything in their countries if they want. example is in china and in north korea. |
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Anything other than signature campaigns and gambling.
A bit saved is a bit earned. So save your money by not clicking on any of the signatures of the people posting in this thread.
Try trading, many people get rich when they have been choose the perfect coin for them. They need to be patient in order for them to earn a lot. Also try mining if you have a good rig , it perfect because you dont need to put investment on it. Just mine, and thats it. |
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Recently, I've been trading bitcoins on btc-e, earning only a little, yes, very little, except the fees that btc-e takes.
Besides trading, are there any good method to earn bitcoins? Thanks.
you can also try pure mining, the only you must have is a computer and an internet connection as well. your computer must have a gpu , if you have a pc with high end expect that you may earn a lot from it without investing on it. you may also try gambling. their are gamblers their that has money so easily for only playing in gambling sites. |
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Hi friends,
As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?
Patience is a virtue my friend , we should be gratefull sometimes that we are earning bitcoins for free or we can earn it with our freetime without any difficulty. We should learn to be patient buddy. |
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Bitcoin is something radically new. Nothing like Bitcoin has been possible until now. I would go so far as to consider it sui generis; "in its own class". This makes it important to understand what Bitcoin actually is before we try to describe it to others. We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money. My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted] Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted] Webster's Online Dictionary defines money as: - 1. The most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us".
- 2. Wealth reckoned in terms of money; "all his money is in real estate".
- 3. The official currency issued by a government or national bank; "he changed his money into francs".
- 4. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
- 5. Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
- 6. In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.
[links omitted] [/list] I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice. But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money? yes it is because it has a value and we can buy our goods from it. and among other coins it has a very great value in the market. it is a very good investment also , therefore it is also a money. |
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the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.
Well, thats good. Countries are now aware in a cryptocurrency so called bitcoins. I hope that in our country it will have that too. I think someday it will come and it is a great help for us. |
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I know a lot of people believe in the Chronobank ICO but I just cannot believe that people will invest money in what is a true scam. It's getting to the point where I'm getting upset because people are just believing ANYTHING (why??) Chronobank has announced a new partnership with Instahire - IT IS A BLATANT LIE!What is wrong with people??? DON'T PEOPLE DO ANY RESEARCH  A banner on CMC is enough to make you part with BTC in the hope of making more BTC down the road (which you most definitely will not) Here is the LinkedIn profile of the only Staff Member of Instahire - I DARE YOU to justify what you find on this link https://au.linkedin.com/in/ilya-shirshov-52391311bTHE ONLY STAFF MEMBER HAS NO LINKEDIN PROFILE! NONE! I ask again - What is wrong with you people??? Do you do any research? Or is visible banners everywhere all you trust. I know Chronobank investors will be ashamed because they cannot admit that they've been pulled into a scam but it's now going too far. IF YOU ARE A CHRONOBANK INVESTOR OR YOU ARE CONSIDERING IT, PLEASE, PLEASE, PLEASE. JUST TAKE 5 MINUTES AND INVESTIGATE THE SO-CALLED COMPANIES INVOLVED IN THIS PROJECT. PLEASE!! 5 MINUTES MAY SAVE YOU A LOT OF PAIN. DO IT SEE WHAT YOU FIND OUT If I stop even one person losing their hard earned cash then I will be a little bit more at peace. This is not the same as people screaming "Ethereum is a scam". Ethereum exists and is being developed for everyone to see. This is not the same as people screaming "Dash is a scam". Even with its shady start, Dash is being developed for everyone to see. Chronobank will show everyone in this industry what is meant by a true proper scam. The ICO will end. Exchanges will start trading then the DUMP WILL COME followed by.... NOTHING. The app being peddled will NEVER be developed but investors will wait patiently like sheep until reality finally dawns on them. When the truth and reality starts getting reported I will find this thread wherever it is and resurrect it. I just cannot believe what is going on right in front of everyone's eyes but people refuse to see it. When the scam is revealed I may even send him 1 BTC as just reward for scamming the largest number of people yet. Personally I think that the larger crypto sites need to be investigated by law enforcement once the scale of this scam becomes apparent. Just because someone pays you BTC doesn't mean you should just advertise anything. Anyways, I give up... Give your money to the scam. When the time comes I will boldly tell you that I told you so!(and I thought maxcoin was bad - pfttt)Is it true? Just check it twice before complaining , although I'm not familiar with it. Gather some information regarding that matter if its true its our lost. Just search for it first |
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