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pennytrader
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July 18, 2011, 04:48:52 PM
 #61
The reality is bitcoin is NOT gold. it can't be used for anything other than currency. USD can inflate 100 times (against tangible real assets) but it doesn't mean 1 BTC will be worth 100 times of its current value.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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kokjo (OP)
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July 18, 2011, 04:58:01 PM
 #62
Quote from: pennytrader on July 18, 2011, 04:48:52 PM
The reality is bitcoin is NOT gold. it can't be used for anything other than currency. USD can inflate 100 times (against tangible real assets) but it doesn't mean 1 BTC will be worth 100 times of its current value.
no it means that 1 btc will be worth 150 times its current value Smiley
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
pennytrader
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July 18, 2011, 07:15:43 PM
 #63
Quote from: kokjo on July 18, 2011, 04:58:01 PM
Quote from: pennytrader on July 18, 2011, 04:48:52 PM
The reality is bitcoin is NOT gold. it can't be used for anything other than currency. USD can inflate 100 times (against tangible real assets) but it doesn't mean 1 BTC will be worth 100 times of its current value.
no it means that 1 btc will be worth 150 times its current value Smiley

Judging by current price action, it's unlikely. I believe it's heavily overvalued now (until it's been widely adopted by the general public).
please donate to 1P3m2resGCP2o2sFX324DP1mfqHgGPA8BL
kokjo (OP)
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July 18, 2011, 09:00:28 PM
 #64
Quote from: pennytrader on July 18, 2011, 07:15:43 PM
Quote from: kokjo on July 18, 2011, 04:58:01 PM
Quote from: pennytrader on July 18, 2011, 04:48:52 PM
The reality is bitcoin is NOT gold. it can't be used for anything other than currency. USD can inflate 100 times (against tangible real assets) but it doesn't mean 1 BTC will be worth 100 times of its current value.
no it means that 1 btc will be worth 150 times its current value Smiley

Judging by current price action, it's unlikely. I believe it's heavily overvalued now (until it's been widely adopted by the general public).
there is still getting more users of the currency, which means: more demand.
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
kiwiasian
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July 19, 2011, 02:26:24 AM
 #65
Quote from: kokjo on July 18, 2011, 09:00:28 PM
Quote from: pennytrader on July 18, 2011, 07:15:43 PM
Quote from: kokjo on July 18, 2011, 04:58:01 PM
Quote from: pennytrader on July 18, 2011, 04:48:52 PM
The reality is bitcoin is NOT gold. it can't be used for anything other than currency. USD can inflate 100 times (against tangible real assets) but it doesn't mean 1 BTC will be worth 100 times of its current value.
no it means that 1 btc will be worth 150 times its current value Smiley

Judging by current price action, it's unlikely. I believe it's heavily overvalued now (until it's been widely adopted by the general public).
there is still getting more users of the currency, which means: more demand.

Then why is the price so slow?
Tradehill referral link, save 10% | http://www.tradehill.com/?r=TH-R12328
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imperi
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July 19, 2011, 02:36:13 AM
 #66
Quote from: kiwiasian on July 19, 2011, 02:26:24 AM
Quote from: kokjo on July 18, 2011, 09:00:28 PM
Quote from: pennytrader on July 18, 2011, 07:15:43 PM
Quote from: kokjo on July 18, 2011, 04:58:01 PM
Quote from: pennytrader on July 18, 2011, 04:48:52 PM
The reality is bitcoin is NOT gold. it can't be used for anything other than currency. USD can inflate 100 times (against tangible real assets) but it doesn't mean 1 BTC will be worth 100 times of its current value.
no it means that 1 btc will be worth 150 times its current value Smiley

Judging by current price action, it's unlikely. I believe it's heavily overvalued now (until it's been widely adopted by the general public).
there is still getting more users of the currency, which means: more demand.

Then why is the price so slow?

Define "slow". It was under 8 a little over a month ago.
kiwiasian
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July 19, 2011, 04:58:12 AM
 #67
 Lol I meant to say low
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