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I remember reading a thread here saying that Bitcoin is money for nerd
I can follow When one asks What is a Bitcoin? and to answer that question you need to start talking about algorithms... |
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Bitcoin is technology not a religion and has not similarities whatsoever with it.
Science and technology can become a religion https://rationalwiki.org/wiki/ScientismWhen you talk about algorithms, you are talking about mathematics. Mathematics has a very close relation with philosophy for centuries, mathematicians were at the same time philosophers until the last century, as good as each major logician was a philosopher, phylosophy has a very close relation with religion |
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Even the Crypto stable coins aren't stable, look at something like Dai, Tether, etc -- which has been fluctuating between a couple of percent of their peg for some time.
The stability of Stablecoins doesn't mean flat stability. Gold-backed Stablecoins will fluctuate according with the fluctuation of the gold price. They are stable in that their volatility is manageable, while the actual volatility of Bitcoin prevent it from being a store of value and means of value transfer. Further, they are stable in that they save the purchasing power of their owner. A gold-backed stablecoin is more stable of a $-backed stablecoin, even if its price fluctuate more than the price of the $-backed stablecoin, when compared to the $. The reason for that is that gold save the purchasing power of its owner more that the $ |
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This is my opinion
a) Every person and community has a right to defend itself, and to have tools to do so;
b) every criminal/crazy person who wants a gun, will find one in the end;
c) all dictatorships in history have taken guns away from the people.
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There is evolution within species (intra species)
There is no proof of evolution from a species to another (inter species).
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So, a country where the Midterm Elections are decided by CNN and the News Corporations, over there democracy is alive?
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It's been a decade since Bitcoin emerged as a decentralized digital currency for the people. While it's no secret that Bitcoin and other cryptocurrrencies have some drawbacks, they're still a great alternative to Fiat when it comes to making payments without a centralized entity in charge of our funds. With latest advancements such as DAGs, smart contracts, Layer-Two scaling solutions, Dandelion Protocol, Zero Knowledge Proofs, and more, it's becoming more evident that crypto will someday replace traditional payment processors like PayPal, Apple Pay, and Android Pay. Yet, Blockchain technology is still struggling with user adoption and regulatory compliance. Nonetheless, do you believe that there's hope for Bitcoin to beat traditional payment processors or will those same payment processors adapt to the Blockchain in the future?  Adoption. All we need is the receiver to accept directly bitcoin Correct, adoption is the keyword, but why, after 10 years, adoption of btc as a means of payment is as good as zero, both at retail as much as at institutional level? In the past 10 years , bitcoin is already adapted by most people or countries around the world and btc is already being used for paying other than in investments In my city you can pay with Bitcoin only in 0,0x% of the shops. I'm sure in yours too. The percentage of institutionals using Bitcoin as a means of transfering value is even lower |
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I don't know if Trump is the best Potus since AL, but it seems to me he is the most openly and viciously hated by the news corporations
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As far as I know:
Bitcoin's transaction speed has overtaken the traditional payment processes only if the sender has already Btc in the wallet and the recipient has a wallet and is willing to accept Btc.
Under normal circumstances, with the sender having fiat and the recipient wanting fiat, using Bitcoin is not faster than the legacy methods.
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Let's think for a second.
Would such a world benefit mankind?
No. Borders are normal in human society. My propriety has borders. If you traspass I'll sue you. Enterprises have borders. They protect their business. Communities have borders, within which they take care of their members. They have the right of setting the rules in there. They have the right of asking strangers who want to come in to respect those rules. Etc. Same on national level etc. I'm not talking only about physical borders |
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Bitcoin acceptability is very high and it is increasing day by day.
I don't know of any restaurants, grocery stores, clothes shops etc... in my city, accepting btc. Institutions don't accept btc either as payment method. Probably I misunderstand what you mean by acceptability. There are some online shop and physical shop in various country that accept bitcoin but it is not known world wide locals knows about it, if you search there is a list of it. I know about such lists. My point is, these listed shops: 0,000... how much % of the total existing shops do they represent? Bitcoin has maybe a higher acceptability compared to 10 years ago, but overall speaking its acceptability is near to zero. |
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You have compared btc with physical gold.
How about comparing btc with a gold-backed stablecoin?
Why? Who cares? For example, if you compare the transaction speed of Bitcoin vs. Gold, it doesn't make any sense to compare Bitcoin with a piece of rock. Gold ownership can be traded physically (as a piece of rock) or digital (as a stablecoin) It only make sense to compare digital (Bitcoin) with digital (gold-backed Stablecoin) |
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Hey
How about we talk about the reason that we need cryptocurrencies
We need cryptos in order to a) be independent from the banks and b) have sound money, i.e. a currency equipped with a stable purchasing power |
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And the technology advancement we are in,fiat currencies will be forgotten soon
FIAT will be forgotten soon? Really? I disagree. FIAT will never be forgotten and will still be the primary mode of payment around the world while BTC serves as an alternate payment option in comparison. Fiat currencies are also called legal tenders. The legal obligation to accept them as a means of payment can be enforced by law. As long as Bitcoin doesn't become legal tender, it will never replace fiat currencies |
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I researched between Bitcoin and real gold.
Bitcoin
Bitcoin is a digital asset, this digital asset is the same as gold but is only available in the digital world.
Bitcoin As a currency that has an exchange rate against other currencies, the movement of the price of Bitcoin also shows fluctuations. Even this is not often used by users to make Bitcoin a trading asset. But concerns, the price of Bitcoin turned out to be moving in very sharp volatility. In fact, the phenomenon of price changes.
Real gold
Gold is a soft and easily forged metal, its hardness ranges from 2.5 - 3 (Mohs scale), and its specific gravity depends on the type and content of other metals that join it.
Gold is used as a financial standard in many countries and is also used as jewelry.
The use of gold in the monetary and financial fields is based on the absolute monetary value of gold itself against various currencies throughout the world, although officially on the world commodity exchange, the price of gold is listed in US dollars. The form of the use of gold in the monetary sector is usually in the form of gold bars or gold in various units weighing grams to kilograms.
Gold can also experience price declines along with the reduced debt crisis that has engulfed a number of European countries such as Greece and Italy.
I did this research by comparing Bitcoin with real Gold, or does anyone have another opinion?
Yes. Comparing bitcoin with physical gold is like comparing apples with oranges. You have to compare bitcoin with a gold-backed stablecoin. That would make more sense |
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In summary:
1. Gold is currently better as a store of value
2. Bitcoin can be better as a store of value in the future if we reach high liquidity to significantly decrease price volatility
What does Bitcoin's ecosystem need to reach high liquidity? |
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I'm curious to know what the community thinks in terms of how user friendly entering this market is? I know we've come a long way from the days when UX/UI was extremely poor for most companies but are there other areas that require improvement?
As for me, the major turn off is the ewallet management. I'm not a trader, so I use a Nano L., and having to manually klick the two buttons on the little bug in order to enter the right code ... Then there are the Ledgers updates. How to do them without wiping out everything... The seed words. Where do I hide them etc. |
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As of now I have been predicted that Bitcoin can reach $20,000 by the end of this year 2019 and it could be possible to go over the highest price at 2017. So may prediction I've been heard that the is a big chances of winning on this year so it is good to know how we or when we enter that market.
I don't know when, but the major factors are the demise of the $ and a regulatory framework becoming effective, making it possible for institutionals to use Btc as a means of value transfer |
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Considering how many Bitcoin believers (maximalists) there are, with their specific beliefs of how cryptocurrency should behave, it's becoming more evident that Bitcoin is a religion. After all, this popular movement of decentralized finance has impacted our lives one way or the other. The world has its eyes on the direction of Bitcoin as a digital currency which determines the path forward of Blockchain technology. According to Google, the term "Religion" means the belief in and worship of a superhuman controlling power, especially a personal God or gods. This becomes true especially when many Bitcoin followers believe that Satoshi is some sort of "god". Hence, if Satoshi would reveal himself to the public, many people will follow him. Nonetheless, what are your thoughts about this? If among the Bitcoin Community there's something believed to be something superhuman, a god if you will, that's not Satoshi but the Blockchain. That's the same of some Environmentalists believing the earth as being a living organism, with its own rules which we must obey. |
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Here's a great debate between gold bug Peter Schiff and bitcoin bull Barry Silbert: https://youtu.be/zN0NIcghT0gI thought Schiff did a great job pointing to the historical value of gold, though I tend to side with Silbert in this debate. While I am much more bullish about bitcoin than gold, I believe gold is money and a form of insurance to economy uncertainty. I felt Silbert could have done more to rebut Schiff's point about the environmental costs of bitcoin mining. The flaw of the argument of gold's historical value is that what has been valid until today doesn't necessarily have to be valid onwards. When one brings that argument up, he has to explain why gold has been value for so long and why it will still be the case |
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