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Author Topic: How Bitcoin works - in my opinion  (Read 473 times)
Kaiser01
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March 10, 2017, 03:00:26 PM
 #1

Bitcoin is gold. Grasp that one first of all.

Let me tell you about what I think.

---------------------------------------------------------------

Out in the world we have Gold, money (dollar, yen, euro etc), Oil, Power (electricity), Milk, Water, food products. They are all connected to Gold who comes first compared to the supplys I just wrote.

--------------------

In our beloved Bitcoin and Alt-Coin world we just don't have anything connected to Bitcoin. No Alt-Coin can yet offer me anything to buy. Nothing is connected to Gold. If myself could, in this moment grasp how much that makes Bitcoin worth - I would have told everyone. Do you get it? Then tell me how much it's worth.

------

See we can almost calculate the worth of Real (in real life) gold because it's connected to things. We need Bitcoin connected to Alt-Coins.
Now I'm gonna tell you some stuff I have grasped:

Buy Litecoin - It's silver
Buy DodgeCoin - It's the meme coin of the Alt-Coins. It's worth so much you will never grasp how much. It's like everyone has it but it's worth so much that no one want's to spend it - do YOU get it? I don't care about the posts down below - DO YOU get it? It's you I'm writing this for. Grasp it.

And tell me how much a Bitcoin is worth today Wink
800 million dollars?
Remember there is only 21 million coins.
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Yakamoto
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March 10, 2017, 03:07:04 PM
 #2

I'm kind of lost with a lot of the idealism within this post to be completely honest.

None of the commodities you had listed are really connected to gold at al these days; all the financial systems are just series of digits representing value and gold is one thing that is used to represent sid value in multiple ways, but it is in no way connected to commodity trading.

You're right that most alt-coins would have a lot less value if Bitcoin didn't exist (and they might not exist either). Litecoin is not the silver; Ethereum is. A way better silver. Litecoin is the copper to Bitcoin's gold.

Your comment on Dogecoin is making me feel like this is some satirical post.


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March 10, 2017, 03:27:58 PM
 #3

" And tell me how much a Bitcoin is worth today..... " Well that is easy, go to preev.com and type 1 in the little box that says "BTC"  Tongue ...Yes, we

might not know how much coins are still available, but we can see how much bitcoins are bought and sold via exchanges and we can see how

much coins are stored in wallets. {Coinbase / BitPay .....} .... That gives us a pretty good picture of how many coins are still in circulation.

No Alt-Coin can yet offer me anything to buy. { Wrong, people buy stuff on a daily basis from merchants that accepts those coins }

Gold is nothing in comparison to Bitcoin.... How many gold can you store safely in your house? Can you quickly transfer $10 000 000 worth of

gold to another country? .... both Bitcoin and Gold has their advantages and disadvantages.  Wink

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BillyBobZorton
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March 10, 2017, 04:18:52 PM
 #4

Bitcoin's value is due being digital gold. Bitcoin with massive block size to scale globally onchain is absolutely useless beyond a state controlled token, which is a disappointment since everything that makes bitcoin different would be lost, so we are going to be looking at a war between the people that want to see bitcoin remain as a censorship resistant tool and the people that want to see bitcoin to scale onchain for massive amount of payments (something that will never happen onchain, which is why BU just a short lived meme)
calkob
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March 10, 2017, 04:57:37 PM
 #5

I have to say that i agree with you that bitcoin is more like Gold at the minute rather than a currency that i want to use everyday to buy the basics.  i think that when lighting network comes along we can then have both which is why bitcoin is actually much better than gold
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