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I really doubt paypal will ever accept BTC. It will be a very risky thing to do.  ... |
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I have an honest thought why Bitcoin exists....... anonymous and keep the sales going...catch me if you can   |
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Those are some good questions. Fortunately they have all been answered years ago. Much can be understood if you know about "open source" software that is "distributed" over the internet.
Because it is open source, all code used to create the program is available to all. Totally different than almost all the software your used to. You wondered who was at the top of the Pyramid? In the code you can see that there is no pyramid, no bitcoin.inc., no official anything. Each of us is the bank, the customer, the payment processor, etc. When you use bitcoin there is no need for a 3rd. party, just the seller and the buyer. The tasks you used to use a bank for are distributed across the network of users.
The security of bitcoin is based on strong encryption. Because this makes bitcoin impossible to profitably counterfeit, there is growing demand for it as a store of wealth. Because it is the fastest, cheapest, and most secure way to pay anyone anywhere; there is growing demand for BTC as a payment system. So, demand is driven by utility.
You answered your own last questions. Why do people use "real" money to buy "made up" bitcoin money? Because all money is just made up. It's just fancy paper that people believe will hold value. And gold is just a shinny rock. Why do you believe in the made up numbers on your credit card?
RodeoX i think you have made the most intellectual comments. Your explanation are very clear and truly demonstrate that you know what you are talking about. Most people who comment just seem to be repetitive but don't have a clue what they are repeating. Knowing something is understanding and been able to explain in your own words. "The security of bitcoin is based on strong encryption. Because this makes bitcoin impossible to profitably counterfeit, there is growing demand for it as a store of wealth. Because it is the fastest, cheapest, and most secure way to pay anyone anywhere; there is growing demand for BTC as a payment system. So, demand is driven by utility."
Very clear. Thanks !!!!!!.. |
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again how is this feeding a troll.. Comments like yours are totally unnecessary. If you dont like the post just skip it and carry on.. |
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\\ have you gave it a little thought in whats the difference BTC and what was of LR and other digital currencies before it.? \\\ |
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Maybe it's the best idea to stop explaining Bitcoin to the thread starter. Everybody's free to choose the kind of money he wants to hold.
Most of those who chose Bitcoin know very well why they did so. If OP doesn't understand or doesn't share that opinion he's free to enjoy his fiat money.
It's a waste of time and energy trying to explain the advantages of Bitcoin to people that are not open to the arguments. I don't care if OP invests in Bitcoin or not.
ya.ya.yo!
you are misleading information: Everybody's free to choose the kind of money he wants to hold. no no dont waste your sacred energy..everything is clearer now |
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I truly understand its advantages for its instant anonymous transactions. I said I support its idea and I think it is
a clever one. But we lose the reality that we need an actual currency to invest into BTC.. so we have to deal with reality one way or the other. The reason I became furious in regards to investors/ big businesses becoming money hungry exploiting its values by doing all sorts of crazy $#it. They just care to make money off from normal users..Like every moral to the story they are shut down just like LR was. for the fact that Bitcoin's value has a Dollar or EURO sign next to it: I believe this can work better if we just look at it as a cool anonymous "convenient" way to trade. |
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Paper money is dumb money. It can only just be a token of value and one token. Same for the other services like Paypal that were mentioned above. Bitcoin is programmable money. The possibilities of how it can be used and how it can reform the financial system is amazing. https://www.youtube.com/watch?v=YIVAluSL9SU&feature=shareNo no no.......this reminds me of those promising job opportunities offered by Amway, Herbal Life and $h!t like that... Bitcoin has more advertisement than what my grandma will ever need to run for president.. |
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what i dont understand is that Bitcoin was created to elimite the control of money that banks have
This is one aspect of Bitcoin, but there are many advanced features that nobody is using properly yet, for example contracts. Bitcoin can be used for all sorts of things like property contracts, business contracts, voting, and multisig transactions. It even allows for scripting to be processed on the network enabling as yet undefined features to be implemented without needing to modify the code base. Think of Bitcoin as a service, not money, because the money aspect is only a small part of Bitcoin. Perhaps you should read the Bitcoin whitepaper first. Hope this clears up your understanding of Bitcoin. I am a supporter to the extent that normal users benefit from it.. But when we have hundreds of company trading bitcoins demanding lucrative amount of money for its virtual coin it just dont make any logical sense... you guys must be kidding.. hashes are getting harder to mine.... they are draining your wallet.. Snap out of it.. |
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lol the currency gets its value lol from the protocol and the network lol. Bitcoin is the most lol sophisticated, decentralized, secure payments lol network the world has ever lol seen. lol. The base unit in which lol transactions happen over that lol network must worth something lol right? lol? lol.  Its value from "the protocol" ooooh ok.. Real Money gets it value from- Secured tradeBitcoin is Sophisticated and also a fad. This is what it is.... one virtual BTC will be trade for $391.58 dollars If the $391.58 isn't secured to you why give it a dollar value next to it. Why don't just give the BTC for free like it started to be. THe only reason you are so delusional is because it has a trading value..... PONZI. Now try with LMAO! ANd still Laughing OUT LOUD! |
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lol.... feeling superior because of your auto corrections? THIS is the INTERNET F OFF with you BS trying to feel smarter by pointing out a simple grammar error... OFF topic!
The problem is that it makes you appear uneducated. Add that to your questions and it appears that you have not done any research into Bitcoin (or money in general) and are asking some very elementary questions. What gives money or Bitcoin or backed beans value is very basic stuff, you nearly got it in your first post though when you mentioned demand, try googling "supply and demand". lol simple questions need simple answers.. Right?... In fact I was been sarcastic with the question marks. I was affirming its origin and its function. pointing out how this "currency" opened the eyes of investors as a new money making business. Why was it created? The answer is clearly there. The creator knows how the internet spreads communication. It just takes one person to belief and make other belief. The rest will follow. Like I said i am not against it at all.. All I said was that the ones on the top of the pyramid are the only one benefiting from this ponzi YOu people are so sensitive........................ I should of just "mine" my own business.. |
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..I think I am educated enough...
LOL...Really? You can't even spell "eliminate" or construct a coherent sentence. Are you a product of the public education system? Just stick with fiat and you'll be fine. lol.... feeling superior because of your auto corrections? THIS is the INTERNET F OFF with you BS trying to feel smarter by pointing out a simple grammar error... OFF topic! |
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I dont consider myself a Troll
just because this is the Bitcoin forum and I started a topic that it seems offensive to BTC fanatics. It wasnt my intention to offend or
degrade its reputation. I think it is a clever idea and believe that it works flawlessly.
I am aware that Bitcoin was generated from nothing. A few computers decided to start trading a few million hashes and promoting its bogus values by giving them for FREE- Hey I just got 10,000 BTC in return for ordering a Papa Johns Pizza. So now I have to make others believe it has a value by promoting it. SIMPLE.. It became popular after LR got shutdown so we had no other anonymous currencies to do our "Anonymous Anon trades"... telling me welcome to the internet; I should tell you WELCOME to the Internet.
All I can say is some are delusional. Now tell me why are you Mining for the fun of it or for the value inflation that has most
hustling their way into it...After you mine a coin what do you do with it? TRADE for $$$ correct..
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What you say has a point but it is not 100pct true.
Fiat even though is not fully backed by gold but it is at least determined by the strength of the economy, military to certain extent, availability of natural resources etc...of the issuing country based on iou trust
Bitcoin although is not backed by anything but it gets its value based on acceptance. .. the acceptance by the community who believes in its protocol and decentralization concept..
Based on these factors it creates demand... and the demand assigns it a value, something which the other party will agree on in exchange for products, services, etc and that's how it goes
exactly..we are on the same path.. value of acceptance the demand is what gives its value... It seems like BTC was a clever social experiment. fuck it Lets all make our own monopoly money.. |
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Real money dates back to ancient Greece Paypal dates back to 1998 @ $13 per share BTC dates back to 2008 @ lucratively $383 per share |
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I think you didnt read my last few lines...LOl..I think I am educated enough to understand this agreement between major companies who has
hooked the poor again into believing and investing into something that will never benefit but drain their hard earned "real money"
Sorry, but you obviously understand nothing. You should read more before posting such nonsense. Bitcoin is no company. It's a protocol, a software, and a currency. ya.ya.yo! not nonsense...I think you are delusional. keep dreaming. If you own any BTC you need real money to give its value..No one will accept your btc if they are not backed up by a true value. Trade among your selves and see how it will benefit your wallets. YOu are certainly delusional |
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Lol so who is benefiting from it? obviously not the person that buys this "currency"
1btc (made up money) = $383 (real money)
What makes you think that the Dollar isn't made up money? Educate yourself about the origins of money then you'll understand. All money derives its value from the shared consensus among people that it has value - it's belief, nothing more. I think you didnt read my last few lines...LOl..I think I am educated enough to understand this agreement between major companies who has hooked the poor again into believing and investing into something that will never benefit but drain their hard earned "real money" as much as you will try to explain it doenst take much to understand what was created who created why was created ------------------------------------------------- you just mentioned it What makes you think that the Dollar isn't made up money? Educate yourself about the origins of money then you'll understand. |
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name speaks for itself
Bits of data... Bits of money = Bitcoin no better name and doenst sound geeky at all....its just a clever name.
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what i dont understand is that Bitcoin was created to elimite the control of money that banks have which is a "good Idea...." But... what is the difference between Bitcoin webmoney, Paypal and other exchangers? where does this Currency gets its value? why do we still need Money to get them? Because of the high demand?? and talk about Pyramid: who is on top of this Bitcoin money chain?
Bitcoin encrypted valueLol so who is benefiting from it? obviously not the person that buys this "currency" 1btc (made up money) = $383 (real money) So why invest your hard earned real money into something like BTC? because it will never lose value (the demand value) ? if this is the way to go; anyone can create an agreement a digital currency and use this currency among people you know hmmm. thats the way every bank note started.. lol..  |
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