Bitcoin Forum
November 22, 2017, 07:52:00 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 »  All
  Print  
Author Topic: Ok guys, Need some help with a negative friend!  (Read 930 times)
Spynz
Newbie
*
Offline Offline

Activity: 9


View Profile
November 04, 2017, 05:31:01 AM
 #1

Hi guys, I have a friend who is determined to prove me wrong in regards to bitcoin. Before I respond to him, I thought I would post what he's wrote to me in attempt to "Stump" me and try to get me to stop with bitcoin. I think it will be interesting to see all replies from the bitcoin experts in here and to get a different reply than mine so I can put together a solid reply back. I'll post his email to me below. Thanks in advance.


"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out. Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out. I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money. People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry. I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada. There is way too much negativity to support the investment for me. The positives are what's making the coin valuable, but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere and being the rare commodity that is it will naturally go up due to scarcity.
I really think you're making a big mistake with this stuff like everyone else."
1511337120
Hero Member
*
Offline Offline

Posts: 1511337120

View Profile Personal Message (Offline)

Ignore
1511337120
Reply with quote  #2

1511337120
Report to moderator
Join ICO Now A blockchain platform for effective freelancing
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511337120
Hero Member
*
Offline Offline

Posts: 1511337120

View Profile Personal Message (Offline)

Ignore
1511337120
Reply with quote  #2

1511337120
Report to moderator
1511337120
Hero Member
*
Offline Offline

Posts: 1511337120

View Profile Personal Message (Offline)

Ignore
1511337120
Reply with quote  #2

1511337120
Report to moderator
1511337120
Hero Member
*
Offline Offline

Posts: 1511337120

View Profile Personal Message (Offline)

Ignore
1511337120
Reply with quote  #2

1511337120
Report to moderator
davis196
Hero Member
*****
Offline Offline

Activity: 658



View Profile
November 04, 2017, 06:30:52 AM
 #2

This is exactly what every bitcoin hater is saying about bitcoin."Too many scams,nobody is using it to buy goods,you can get hacked...."I don`t believe that you can convince your friend to become a bitcoin supporter.
I`ve been using bitcoin for 3 years and i never got scammed or hacked.Stupid and greedy people who aren`t carefull with their private info and want easy money always got scammed or hacked.
There are hundreds of legit websites that use btc and they become more and more secure.



                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄███▀
 ▀███▄▄     ▄█▀                ▀█▄▄█████▀
  ▀██████▄▄█▀                ▄▄███████▀
   ▐█████████▄           ▄▄███████████
     ▀█████████▄▄      ▄█████████████
       ▀██████████    ███████████████
        ▐▀█████████  █████████████▀ ▐▌
        ▐▌ ▀▀██████ ▐███████████▀   ▐▌
        ▐▌      ▀██ ▐█████████▀     ▐▌
         █        ▀  ██████         █
         ▐█          ▐█████▄       █▌
          ▀█▄         ▀██████▄   ▄█▀
            ▀█▄         ▀█████▌▄█▀
              ▀██▄▄       ▀▄▄██▀
                ▀▀████████▀▀
T
....ANGEL TOKEN....


                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄█▀█▀ 
 ▀█▀█▄▄     ▄█▀                ▀█▄▄█  ▄█▀ 
  ▀█  ▀▀█▄▄█▀                ▄▄██░   █▀   
   ▐▄▄  ░░░▀█▄           ▄▄█▀▀░░░   ▄█     
     ▀█▄ ░░░▒▒█▄▄      ▄██▒▒▒▒▒░    █     
       ▀▄▄ ░░▒▒▒▓█    ██▒▒▒▒▒▒░   ▄▄█     
        ▐▀█▄░░▒▒▓██  █▓▒▒▒▒▒▒░  ▄█▀ ▐▌     
        ▐▌ ▀▀█▒▓███░▐█▓▒▒▒▒░░ ▄█▀   ▐▌     
        ▐▌      ▀██ ▐█▓▓▒▒▄▄▄█▀     ▐▌     
         █        ▀  █▓█▀▀█         █     
         ▐█          ▐▄▓░ █▄       █▌     
          ▀█▄         ▀█▒░ ▀█▄   ▄█▀       
            ▀█▄         ▀█▄▄▄█▌▄█▀         
              ▀██▄▄       ▀▄▄██▀           
                 ▀▀████████▀▀             

rjbtc2017
Full Member
***
Offline Offline

Activity: 196


JOLYY - The future of beauty!


View Profile
November 04, 2017, 07:44:34 AM
 #3

Not a Pro but the only thing i can say about his statement is: That's okay, That is part of how a person accepts new things, Bitcoin is a new technology
and now the technology behind it which is blockchain have been accepted by some of the business giant and will use it to integrate it to their business. The negative things you say is subjective and it's too early to conclude things about Bitcoin, Government is still working on regulations which means Bitcoin has a good future. You should have see Bitcoin as a currency. A Digital Currency.

ritsel02
Member
**
Offline Offline

Activity: 98


View Profile
November 04, 2017, 08:06:28 AM
 #4

Scammers are everywhere when it comes to money matter,selfish people will always find ways to get benefits from others .All of those are present not just in bitcoin.That is just normal all you have to do is to be wise in investing your money.Being here in forum, you will learn more how others improve there living because of bitcoin.When you ranked up and can be able to join in different campaigns, prove your friend wrong on what he think about bitcoin.Show your proof of income to your friend, that could change his mind too.It's really hard to convince people even a friend to be in bitcoin if you don't have a proof that you gain from it.

ballerin and giroud
Jr. Member
*
Offline Offline

Activity: 56


View Profile
November 04, 2017, 09:06:37 AM
 #5

The everyone view is different, they're right when they talk bitcoin is no safe, because bitcoin system is still young, but the bitcoin valeu continue to soar, this very strange. But sometime we have to accept that how bitcoin has change the world, and probably bitcoin be to currencies of the feature. And i'm sure bitcoin is safe, cause untill now new user and new investor start to join with bitcoin.
kangjiasg
Jr. Member
*
Offline Offline

Activity: 56

Exclusive Member


View Profile
November 04, 2017, 09:09:18 AM
 #6

Every one has a different level of risk taking and your friend have to right to have his own judgement. But it may not be permanent as his perspective may change in the near future as bitcoin becomes widely heard in the market and I believe the all time high price now is a good prove to show its value.

connesa
Full Member
***
Offline Offline

Activity: 126



View Profile
November 04, 2017, 09:21:28 AM
 #7

Hi guys, I have a friend who is determined to prove me wrong in regards to bitcoin. Before I respond to him, I thought I would post what he's wrote to me in attempt to "Stump" me and try to get me to stop with bitcoin. I think it will be interesting to see all replies from the bitcoin experts in here and to get a different reply than mine so I can put together a solid reply back. I'll post his email to me below. Thanks in advance.


"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out. Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out. I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money. People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry. I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada. There is way too much negativity to support the investment for me. The positives are what's making the coin valuable, but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere and being the rare commodity that is it will naturally go up due to scarcity.
I really think you're making a big mistake with this stuff like everyone else."



it simply because he is not in to it....if he already start to earn and widraw all his earning that the time you prove him wrong.many people will simply just react coz they dont experience it yet nor didnt even try....soon when you got ure own money frm btc simply show him your proofs.

nappoleon
Full Member
***
Offline Offline

Activity: 168



View Profile
November 04, 2017, 09:36:33 AM
 #8

I think he failed to grasp what bitcon is, based on his statements, it seems that it is focused on MLM which is sad. Your friend is actually not negative. He/she just doesn't know shit. He/she doesn't realize it's more than a currency, and doesn't need regulation. And has this idea of regulation will protect consumers which is not.

Mystica101
Newbie
*
Offline Offline

Activity: 28


View Profile
November 04, 2017, 09:44:19 AM
 #9

I know a lot more about bitcoin but i join just now the reason that I only found out this forum just today. We're both newbie here so let's focus to become successful someday here in this forum. Let him be,  I know for sure when you become one of the Legendary member here he wil surely regret what he had said to you. Let's strive to aim high.
jekjekman
Sr. Member
****
Offline Offline

Activity: 364


View Profile
November 04, 2017, 09:57:18 AM
 #10

Hi guys, I have a friend who is determined to prove me wrong in regards to bitcoin. Before I respond to him, I thought I would post what he's wrote to me in attempt to "Stump" me and try to get me to stop with bitcoin. I think it will be interesting to see all replies from the bitcoin experts in here and to get a different reply than mine so I can put together a solid reply back. I'll post his email to me below. Thanks in advance.


"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out. Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out. I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money. People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry. I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada. There is way too much negativity to support the investment for me. The positives are what's making the coin valuable, but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere and being the rare commodity that is it will naturally go up due to scarcity.
I really think you're making a big mistake with this stuff like everyone else."

This is just simple as this, he is not into Bitcoin so I think he doesn't know anything about it or what it is made for and the purpose of it as a digital currency and to that kind of a person is normal for them to hate Bitcoin and always bash it and hate it all they want because they see it appreciating rapidly and they will keep on continuing that hatred until they realize that it is worth a try to invest with Bitcoin.

Don't rely your feelings to others and make a decision to yourself, make a risk to yourself so you won't blame other people in the future. Win or lose you are the one who will benefit from it and not them.

CryptoTamer
Full Member
***
Offline Offline

Activity: 133


Green Mining 85% Cheaper


View Profile
November 04, 2017, 10:56:56 AM
 #11

It does not matter if your friend gives such an opinion, but the interesting thing is he is trying to get you to stop investing in Bitcoin, Why did your friend do that?
if I'm in your position I will ignore his opinion because it was annoying

filharvey
Hero Member
*****
Offline Offline

Activity: 643



View Profile
November 04, 2017, 11:15:48 AM
 #12

Bitcoin has been criticized by its haters right from the beginning.Your friend has just rewritten those words.I think that your friend has been completely brainwashed by a bitcoin hater.He does not even want to see the positive aspects of bitcoin.He just feels that fiat currency is far safe than bitcoin since it is baked by governments.He easily forgets that bitcoin is free from inflation.

Also,he misses to see the financial freedom which bitcoin has provided to people.Also,various earning opportunities provided by bitcoin.

If he still stands steady in his argument against bitcoin,then we should leave him thinking that he lacks fortune to get benefits from bitcoin.



                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄███▀
 ▀███▄▄     ▄█▀                ▀█▄▄█████▀
  ▀██████▄▄█▀                ▄▄███████▀
   ▐█████████▄           ▄▄███████████
     ▀█████████▄▄      ▄█████████████
       ▀██████████    ███████████████
        ▐▀█████████  █████████████▀ ▐▌
        ▐▌ ▀▀██████ ▐███████████▀   ▐▌
        ▐▌      ▀██ ▐█████████▀     ▐▌
         █        ▀  ██████         █
         ▐█          ▐█████▄       █▌
          ▀█▄         ▀██████▄   ▄█▀
            ▀█▄         ▀█████▌▄█▀
              ▀██▄▄       ▀▄▄██▀
                ▀▀████████▀▀
T
....ANGEL TOKEN....


                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄█▀█▀ 
 ▀█▀█▄▄     ▄█▀                ▀█▄▄█  ▄█▀ 
  ▀█  ▀▀█▄▄█▀                ▄▄██░   █▀   
   ▐▄▄  ░░░▀█▄           ▄▄█▀▀░░░   ▄█     
     ▀█▄ ░░░▒▒█▄▄      ▄██▒▒▒▒▒░    █     
       ▀▄▄ ░░▒▒▒▓█    ██▒▒▒▒▒▒░   ▄▄█     
        ▐▀█▄░░▒▒▓██  █▓▒▒▒▒▒▒░  ▄█▀ ▐▌     
        ▐▌ ▀▀█▒▓███░▐█▓▒▒▒▒░░ ▄█▀   ▐▌     
        ▐▌      ▀██ ▐█▓▓▒▒▄▄▄█▀     ▐▌     
         █        ▀  █▓█▀▀█         █     
         ▐█          ▐▄▓░ █▄       █▌     
          ▀█▄         ▀█▒░ ▀█▄   ▄█▀       
            ▀█▄         ▀█▄▄▄█▌▄█▀         
              ▀██▄▄       ▀▄▄██▀           
                 ▀▀████████▀▀             

Carlton Banks
Legendary
*
Offline Offline

Activity: 1834



View Profile
November 04, 2017, 11:52:33 AM
 #13

Your friend:

  • Doesn't understand how money comes into existence in the first place
  • Doesn't understand how central bank issued fiat money comes into existence
  • Doesn't understand the sovereign bond system, or it's long term implications
  • Doesn't understand the difference between fiat money and commodity based money
  • Doesn't understand the difference between privately owned money versus institutionally-held deposits (and how well guaranteed the deposit insurance is for the latter)
  • Doesn't understand the benefits of a hard money supply (and likely doesn't appreciate the significant drawbacks of a centrally controlled fiat money supply)
  • Probably reads too much financial media without reading economic theorists, and so fails to think about how subtly corrupt the financial media is


I'm gonna be honest: there's an almost religious adherence to things that aren't true that make oneself more comfortable to believe things that are objectively/demonstrably false. People say that about the Bitcoiner perspective too. And it's hard to force someone to learn all of the relevant topics I've outlined.

I guess you could take the approach of gently pointing your friend towards the facts they are unaware of, slowly over time. Crises in sovereign bonds, debt markets overall, currency values (dollar and yuan especially) and banking stability would be good catalysts to the conversation. But there's always going to be a significant minority of people that will refuse to believe what's really happened once the cryptocurrency/cryptographic era is fully established. Not much you can do for these people, really.

Vires in numeris
Shivan Dragon
Jr. Member
*
Offline Offline

Activity: 42


View Profile
November 04, 2017, 11:55:55 AM
 #14

Everyone has a point of view. It is hard to convince a negative person to join you in bitcoin. It is like a debate that can develop into an argument. If you dont want to lose a friend, respect his or her opinion.
Agozyen
Sr. Member
****
Offline Offline

Activity: 252


Until the end


View Profile
November 04, 2017, 01:06:29 PM
 #15

Your friend can't be saved. 

 Bitcoin isn't going up because people aren't selling, it's because more people are buying.  Find out where he gets his information from.  Also, you can lead a horse to water, but you can't make him drink. Your friend will have to be open-minded in order to have his mind changed.

 




                          ▄▄███████████████████▄▄
                      ██████▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀██████
                  ██████                          ██████
               █████                                  █████
             █████                                      █████
           ████                                            ████
         ████                                                ████
       ████                                                    ████
      ████                                                      ████
     ████                                                        ████
    ████                                                          ████
   ████            ███████████████     ███████████████             ████
  ████             ▀ █████████████▌   ▄▀ █████████████▌             ████
 ▐███             ▄▄ ▐█████████████  ███ ▐█████████████              ███▌
 ████            ▐██▌ █████████████▌ ███▌ █████████████▌             ████
 ███             ████ ▐█████████████ ▐███ ▐█████████████              ███
▐███            ▐████▌ █████████████▌ ███▌ █████████████▌             ███▌
▐███            ██████ ▐█████████████ ▐███ ▐█████████████             ███▌
▐███           ▐██████▌ █████████████▌ ███▌ █████████████▌            ███▌
▐███           ████████ ▐█████████████ ▐███ ▐█████████████            ███▌
▐███          ▐████████▌ █████████████▌ ███▌ █████████████▌           ███▌
▐███          ██████████ ▐█████████████ ▐███ ▐█████████████           ███▌
▐███         ▐██████████▌ █████████████▌ ███▌ █████████████▌          ███▌
▐███         ████████████ ▐█████████████ ▐███ ▐█████████████          ███▌
 ███        ▐████████████  █████████████▌ ███  █████████████▌         ███
 ████       █████████████  ▐█████████████ ▐██▌ ▐█████████████        ████
 ▐███      ▐█████████████   █████████████▌ ██   █████████████▌       ███▌
  ████     █████████████▌   ▐█████████████      ▐█████████████      ████
   ████    █████████████     █████████████▌      █████████████▌    ████
    ████                                                          ████
     ████                                                        ████
      ████                                                      ████
       ████                                                   █████
         ████                                                ████
           ████                                            ████
             █████                                      █████
               █████                                  █████
                  ██████                          ██████
                      ██████▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄██████
                          ▀▀███████████████████▀▀
 
Monaize
|
 
|
 
 



 
Anonymous Kid
Newbie
*
Offline Offline

Activity: 28


View Profile
November 04, 2017, 01:25:26 PM
 #16

Selling bitcoin is easy though. What is he talking about? Is he referencing to bitconnect?
wellsontheja
Full Member
***
Online Online

Activity: 154



View Profile
November 04, 2017, 01:57:25 PM
 #17

Your friends actually don't understand about that and he like don't wanna understand to pretect his statement so i usually just ignore him and what was i think it's right.

jekjekman
Sr. Member
****
Offline Offline

Activity: 364


View Profile
November 04, 2017, 02:14:52 PM
 #18

Hi guys, I have a friend who is determined to prove me wrong in regards to bitcoin. Before I respond to him, I thought I would post what he's wrote to me in attempt to "Stump" me and try to get me to stop with bitcoin. I think it will be interesting to see all replies from the bitcoin experts in here and to get a different reply than mine so I can put together a solid reply back. I'll post his email to me below. Thanks in advance.


"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out. Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out. I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money. People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry. I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada. There is way too much negativity to support the investment for me. The positives are what's making the coin valuable, but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere and being the rare commodity that is it will naturally go up due to scarcity.
I really think you're making a big mistake with this stuff like everyone else."

Everything has it's negative side and you are going to hear more and more negative about it. How are you getting your bitcoins? are you investing on it from a fiat currency or earning from campaigns? If you are investing on bitcoin from fiat currency I believe you are doing some trading and by that you can see your earnings faster and will have an option to stop whenever you want.

DannyHamilton
Legendary
*
Offline Offline

Activity: 1988



View Profile
November 04, 2017, 03:19:14 PM
 #19

"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out.

This is not true.  Many people are exchanging bitcoin for their local currency every day.  As a matter of fact, there are EXACTLY the same number of exchanges of local currency for bitcoin as there are of bitcoin for local currency.  Since EVERY exchange of bitcoin for local currency involves BOTH currencies being exchanged, if you think about it for a moment perhaps you'll see why this MUST be true.

The exchange rate keeps going up because there is a very limited supply and an increasing demand.  Read about the "law of supply and demand" and you'll better understand how this works.

Note that there is a limit on the total amount of bitcoins that will ever exist.  There will never be more than 21 million bitcoins.  Imagine if the 22 million RICHEST people in the whole world all wanted to own just 1 bitcoin...  There wouldn't be enough bitcoin for them to do that.  The price would keep increasing until one of them decided that it was too expensive and they no longer wanted one.  Imagine just how expensive 1 bitcoin would be under that circumstance.  Or, imagine that the 220 million richest people in the whole world all wanted to own just 0.1 bitcoin... There wouldn't be enough bitcoin for them to do that.  The price would keep increasing until 10 million of them decided that it was too expensive and they no longer wanted one.

Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out.

Intelligent people don't use black market sites.  I'm not sure what country you are in, but in the U.S.A. bitcoin exchanges are all regulated by the U.S. government.  Some of them (such as Coinbase.com) are even insured by a major global insurance company.

Criminals will always take advantage of foolish people.  People using their local currency are "robbed left right and center" every day.  Does that mean you are going to stop using your local currency? Or does it just mean that you are careful?

I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money.

Absolute nonsense.  As I said, there are insured regulated exchanges in the U.S.  It is also possible to exchange local currency for bitcoins in person where you can know immediately if you have been paid or not.  People who are careful and take a few moments to make sure they know what they are doing are not "afraid to try" any more than they are "afraid to try" to purchase something from Amazon.com.

People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry.

Ponzi schemes exist.

They exist with local currencies.   Do you still use your local currency? They exist with stocks. Are you still planning on investing for your retirement? They exist with real estate. Are you still planning on living in a building? They exist with postage stamps (Are you familiar with where the term Ponzi scheme actually comes from?).   Do you still send or receive snail mail?

They also exist with Bitcoins.  Use a little common sense, understand how they work, and avoid them.  You can still use Bitcoin, just like you still use all those other things of value that people run Ponzi schemes on top of.

I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada.

You are wrong:
https://coinmap.org/#/map/43.66091757/-79.41055298/9

There are more than 50 places in the Toronto area that all accept bitcoin.

Additionally...   Are you able to use any of the following websites in Canada?  They all accept bitcoins:
  • Overstock.com
  • Expedia.com
  • NewEgg.com
  • Dell.com
  • Dish.com
  • Wordpress.com
  • Microsoft (Xbox content and Windows store)
  • Namecheap.com
  • CheapAir.com
  • Steam Gaming Platform
  • HumbleBundle.com
  • BigFishGames.com

There is way too much negativity to support the investment for me.

There is a lot of negativity in the world. That doesn't stop me from living. Perhaps learn a bit more about bitcoin instead of just repeating things that you heard but didn't understand?  It's amazing how education can overcome negativity in just about all areas of life.

The positives are what's making the coin valuable,

Correct.

but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere

It is being sold in a LOT of places. If it was not, then the exchange rate could not go up. The exchange rate can ONLY change if it is actually EXCHANGED.  That's why it is called an EXCHANGE RATE.

and being the rare commodity that is it will naturally go up due to scarcity.

Yes.  There is a limit on the total number of bitcoins that will ever be created.  Additionally, there are less of them being created now than there were 4 years ago, and there were less of them being created then than there were 4 years before that.  A limited supply does not automatically make something valuable.  I drew a picture on a piece of paper today, and it is a one-of-a-kind.  There is no other picture exactly like it created by me anywhere in the world.  Yet, somehow it isn't very valuable to anybody else?  Why? Because for something to have a high value there also needs to be a high demand for it.  People need to want to have it.  This is why my picture is essentially worthless, and the Mona Lisa is essentially priceless.  Bitcoin is both limited in supply AND desired by many.  Like ALL things of value in this world, the fact that people want to have and use it COMBINED with it's scarcity is why the exchange rate continues to increase.  Eventually it will reach such a high exchange rate that less people will want to own as much of it (just too expensive for them to afford).  At that point it will finally reach an equilibrium and the price will stabilize.  With only 21 million bitcoins, and more than 7.5 billion people in the world, would you like to take a guess at just how high that equilibrium price will be?  Are you going to wait until it gets to that extremely high price before you own any?  Or would you prefer to acquire some now before most people have decided they are comfortable owning any and the exchange rate is still very low?

I really think you're making a big mistake with this stuff like everyone else."

You are welcome to your opinion.  One of us will be right, and one of us will be wrong.

If I choose to own $100 of bitcoin today, and I'm wrong...  I will lose $100.

If you choose NOT to own $100 of bitcoin today, and you are wrong (lets imagine for a moment that the exchange rate increased to $700,000 per BTC over the next 10 years)...  You just might lose out on the opportunity to be holding $10,000 worth of bitcoin 10 years from now.

If I'm making a mistake, it is a small mistake ($100).
If you are making a mistake, it is a BIG mistake ($10,000).

Are you sure you want to take that risk?

fishbonez11
Full Member
***
Offline Offline

Activity: 126


View Profile
November 04, 2017, 03:57:07 PM
 #20

I wonder where your friend is getting all of this information! Would you mind to find out and verify if these are valid source of information? It would take much of an argument though. I think a single sit down discussion would not be enough and that you need to build up bitcoin to your friend over time. Let him be with his opinions. Opinions are opinions anyway. Just agree to disagree and time will tell whichever of you two are correct. If it is your friend, then good for him and sad for the rest of us. Of it is you, then, at least you've tried to tell and convince him.
Pages: [1] 2 3 4 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!