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Warren Buffet is a decrepid old man. The best investment of all times would have been to register domain names back in the early 90's. Warren Buffet has no idea about technological breakthoroughts because he doesn't know how to use a computer. He's hanging around with Floyd May or not Mayweather those days, enough says.
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Hey guys,
I was thinking about how the world would change if it used BTC as reserve currency in the future.
- What would need to change for this to happen?
- What would change once it actually is used for it?
- What would be the benefits of this?
- What would be the downside of this?
Lets hear some answers, then I will tell what I think will change. I don't want to bias this thread!
In a way it would be much like the world before the US dollar (with, as I understand it, gold as the reserve currency) with one major difference: governments could transact trillions of dollars almost instantly at very little cost. The concern that I see is that governments would likely have to create a mining arms race to maintain the security of the network. The U.S. could not allow China to control 51% of the network and vice versa, so billions would be spent to constantly keep a competitive hash rate. This would likely result in private mining becoming impractical. Governments might use their monopoly of the network to increase fees in an effort to recoup costs. As a result, Bitcoin transactions might become too expensive for anything but large institutional transactions. If these pitfalls were escaped, I suspect the exchange rate would become significantly more stable. Thoughts? Those are legit concerns, even tho i've read its not 51%, you would need more than it actually. We've had 51% scenareos before and nothing happened. My main concern is the transaction volume being too hardcore for the 1MB block size. |
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Gold, its been proven for a decade.
As for bitcoin, its trying to get their in less time where gold sits at in value. But, gold is something technically you can touch and go sell that almost universally everyone understands it s value.
you go to a pawn shop and you say you`d like to sell your bitcoin, they`ll give you the wtf face.
But, gold as in invest in the stocks that mine it not the physical bar itself. People get too confused and they end up hoarding bars, without understanding how liquidation works.
Gold is boring, you will never become rich in 10 years by holding Gold. Now by holding Bitcoin... no one knows, which makes the future exciting to look forward. I choose a exciting future. |
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This is bitcoin related cause it all started with bitcoin because it allowed for people to receive payments in a new form.
I feel like things are starting to get out of hand, but I want people to make there valid points on P2P and the inventions of AI.
There is website that is being built that can take most Dev jobs and soon programming will be so easy that anyone can do it.
P2P websites can hurt others like online businesses.
Please express what you all think
The thing is it can't be stopped so you have to deal with it. They've been trying to stop P2P exchange technology since the early 2000's with Napster, and look what they've accomplished: Nothing. In this sense communism won, at the digital level, because everything will be able to be shared for free in the future, completely anonymously to both. Maybe a new law can stop it? nothing should be free, then how others will make money? what if everything becomes free, then what happens to the world, Chaos and greed!!! Lol, what law are you gonna pass against decentralized anonymous systems like maidsafe? in the future it will be unstopable. Also you have bigger problems to focus on, mainly: what happens to the world when most jobs are automatized by machines? we'll end up getting welfare anyway. |
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thats why its a scammers's heaven. Noobs is onething, dumb as fuck is another thing. OP is an example of both...
Thinking there is only one name Satoshi Nakamoto in the world= dumb as fuck
Using Whois registrant info = Identification = noob + dumb as fuck combo
Couldnt pick an better username than "OnlyBTC" = The Whole 'nother Level of dumb as fuck
domain creation date was a little over a month ago, and you believed OP "found" the domain, an unusual, uninsteresting domain.Of course OP is up to something else. You = noob too. Seriouscoin is just a dick, he calls everyone retarded and stupid but when find holes in his logic (or spelling) he just kicks, screams and calls you an idiot as well. Seriouscoin sounds like the average boat misser/average panic seller. Dude needs to calm the fuck down for once. |
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Most millonaires that become millonaires overnight such as the ones that got into Bitcoin at the early stages and didn't sell will not admit publicly that they are millonaires. There are exceptions like rpietila tho.
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You included the ridiculous amount of 0 BTC fees. Im unaware of what the time of wait could be if you give 0 fee as I've never done it myself, but it could be a lot. Next time give some fee (default). I've heard some stories of confirmations being stuck because the guy gave 0 fees... this is a problem. |
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Lol at anyone that sold and even bigger lol at anyone that isn't buying sub 300 Bitcoin like crazy as we speak.
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That's a bit paranoid don't you think? If you have a couple of hard drives and usbs they should last enough years before a single one fails. As one fails make a new backup. This way you will never lose them.
You should always have a physical copy of your keys somewhere. What if you decide one day you want to check all drives are doing fine, so you plug them into your computer and they become corrupted or infected with some sort of malware/ransomware. Having a physical copy can save you greatly. Here's a quicker more cheaper way: print your paper wallet private key and put it inside a plastic safe from moisture and degradation. It should resist for your lifetime. |
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Bitcoin was created as a payment system nothing more nothing less. So, yes it can act as a store of value.
Unit of account? Even the SDR wasn't able to achieve that, but who knows, maybe if the dollar collapses.
As the other poster said, if you watch the video you will see that he says it will not replace any of the fiat currencies, he's talking about replacing the gold standard. |
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i got a jar from asda with non metallic lid and i put all my laminated offline wallets from doge to btc in it and buried it 12 ft deep reinforcede concrete box in my garden with a digger and cemont mixer i hired
me money is now safe i can rest in piece from house fires to burgorlers i will be a millionaire in the future oll i hath to do is just wait for the idiot brainwishwash sheeple to catch on.
Great stuff, I hope you don't lose or forget about the password if the wallets are encrypted so take that into consideration. Best of luck im also holding long time. |
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Did you notice how trade volume of bitcoins increased since the beginning of this year?
What do you think is it the result of hft bots trading more or maybe something like trend reverse is happening?
Lots of good news popping up lately. We are gaining traction again, the uptrend is definitely confirmed, yet this time it will be more steady and slow and not bubble based I think. |
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It would only bring more people to Bitcoin once people understand the limitations of a centralized digital fiat currency, so im okay with it.
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It is a pump dump. Anything which is unregulated and generate profit like this will be so.
With that said, it is just not pump and dump. The volatility may make it look bad but its still a new technology and it will take time for it to gain adoption.
The 1K ATH bubble was not even a pump a dump within itself, it was what people wanted to pay for 1 BTC for a while. Most people are aware that BTC is going to go sky high eventually, they just panicked and panic-bought. But deep down anyone with half a brain knows BTC is going to go 10k+, 2013 was just too early to continue with the uptrend. |
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Anyone who has such pile of BTC would say the same and spread that word among people  Even if they have an agenda, is not that far fetched. If Bitcoin is the TCP/IP for money, 10 years would bring us to the first stages of mainstream adoption. |
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Have you added putinfaucet, it's the one I used first when I started getting my first satoshis as a newbie, good times.
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Is it standard for one person to have several bitcoin wallets?
Yeah it's a good idea, like having a wallet to go out with and do groceries and whatnot, then a main wallet to store your main stack. |
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Jesus christ, wasn't Coyno the name of the ridiculous Kanye West coin that got shut down by Kanye West lawyers themselves?
I've been around here for too long lol.
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I think this entire thread could be summarized:
When people buy Bitcoins, price goes up.
When people sell Bitcoins, price goes down.
.. and OP's price "speculation" won't work.
Everything could be summed to supply and demand, but we can talk about theories and methods, even tho we dont need to do anything, btc is good enough withing itself to reach glory. |
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I think bitcoin is the first truly global currency and it truly does have the power to be a borderless, worldwide currency. My dream is that it just catches on so everybody else sees it like this because without being able to spend it at many places across the world it is kinda useless as a currency but I think this will change over time.
Gold was (and still remains) the first true and truly global currency by any means and thus for hundreds of years already. Whether bitcoin will be able to make it like gold did, remains to be seen. Personally, I think bitcoin is currently stuck between fiat and more apt cryptocoins, so it is not given that it won't be supplanted by them eventually... For thousands of years...And it remains seen as a store of value and potential mean of exchange. Gold is also useful in a lot of industries including the jewelery industry. Bitcoin is already more useful than gold. In an scenareo where there is no internet and we are back to middle ages maybe, but in modern society Bitcoin is way more useful than the alleged gold's intrinsic value. |
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