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Author Topic: My challenge to bitcoin  (Read 1066 times)
Blue Bell
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June 01, 2018, 07:48:53 PM
 #61

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8

Bitcoin is better than a dollar. Sooner or later the dollar will collapse.
Instead of the dollar, the government plans to introduce a new currency.
Yeah bitcoin is much better than dollar and it has more capacity than faith money like rupee and dollar, now a day bitcoin has more profit than any other currency as it is being use as an investment as well to any for goods online, everything that money has been doing is now happening with bitcoin along with high profit and saving so all these things makes bitcoin more valuable than dollar and other currency.
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June 13, 2018, 11:46:50 AM
 #62

My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.
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June 13, 2018, 12:29:53 PM
 #63

My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.
My challenges in bitcoin was nit that bad. I just invest small amount and turned out to not profitable. Good experience are more than bad experiences I esrn so much for my family specialy in projects that I join It usually turned out in positive outcome.

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June 13, 2018, 12:35:13 PM
 #64

Today there are quite a few bitcoins on the market. This leads to the fact that any transaction for a large amount can significantly affect the course of the crypto currency. Often this entails significant losses. On the other hand, this is an excellent opportunity to make money on these fluctuations.

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June 13, 2018, 12:36:29 PM
 #65

I don't see bitcoin as the problem to economic growth and to fiat destruction. Bitcoin have risk and also benefits. For now dollar is the standard basis of measurement on bitcoin value that we can identify its price on the market.
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June 13, 2018, 12:39:13 PM
 #66

Challenge all day! all i want, is to earn profit, but daily trading are not effective this days because the value are drowning at the bottom, There's no assurance that the value started to recover. How I wish bull run takes place everyday. I just keep holding for the possible things may bounces back, and harvest good amount:)
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June 13, 2018, 01:01:03 PM
 #67

I also don't like bitcoin, don't totally satisfied with it but it is clear that it is better than usd and gold that's why it is my choice.
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June 13, 2018, 01:06:50 PM
 #68

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


This is way lot confusing post. I tried to read it thrive in real with my eyes wide open. I believe you don't like bitcoin  at all because you think that there is no competition of your USD with the bitcoin in terms of how they are backed up with different assets. Agree on that but it's not completely true. The way it seem easier to manage all those backed assets, but it's not the case in reality. The banks work on the principles of liquid money and it flows multi direction all the team. While on the other hand bitcoin is unidirectional and it just work on the principles of peer to peer transfers. The backing doesn't really matter here because what bitcoin has got is the money that we are pushing into it.

That's my understanding about it. There might be no comparison between to as they have different principle of working.
It is so true. Bitcoin cannot be compared with the fiat money. Bitcoin as I see it, the purpose is more on investment while fiat still is very useful in our daily needs. Although bitcoin is now used for other transactions but more people are investing it.
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June 13, 2018, 01:12:43 PM
 #69

I don't know about that but I'm still hanging on to BTC and other crypto currencies in the market. Also, i would.like to think that BTC will be all that we dreamed it would be, a currency like no other uncontrolled by one man. I might be naive in saying this and i don't evrn have the evidence or the facts to back it up.

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June 13, 2018, 01:20:06 PM
 #70

Just like any currency of each and every country, and also like bitcoin, we see how volatile it is. We see how the value goes on its highest peak. We cant just imagine what will happen on the year end. We know how bitcoin value goes low, and we thought like dollars. Forex investor trust dollars, because it goes very high and can sell them in the right time.

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June 13, 2018, 01:29:52 PM
 #71

My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.
everyone here I think of course have a fairly high price decline, and it makes their panic. so we also have to overcome it with a sense of calm

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June 13, 2018, 01:31:31 PM
 #72

I also don't like bitcoin, don't totally satisfied with it but it is clear that it is better than usd and gold that's why it is my choice.

I don't know why you dislike Bitcoin though we all know Bitcoin is still not that developed though even though I like Bitcoin, I don't think that it is better than Gold more importantly than USD or any Fiats. Fiats and Gold are still far more better than Bitcoin since these two are always used by a lot of people and they are trusted assets by a lot of investors unlike Bitcoin.

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June 13, 2018, 01:46:59 PM
 #73

My challenge to bitcoin is the same as others challenge too, the continous dip of price and the market volatility that always strikes and never calm yet, everyone has the same sentiments that are facing. The global market recession affects a lot to any industry that causes much fluctuation in the market.

We are seeing bitcoin price now decreasing and continue to fall.
but we have witnessed also the time it rises in the market.
not just 1000% up but more, and people are happy with it, but now bitcoin is falling and then they are asking like that.

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June 13, 2018, 10:12:51 PM
 #74

I don't know about that but I'm still hanging on to BTC and other crypto currencies in the market. Also, i would.like to think that BTC will be all that we dreamed it would be, a currency like no other uncontrolled by one man. I might be naive in saying this and i don't evrn have the evidence or the facts to back it up.
Man what else you want if you are getting money you intend to get. Besides, we have been hearing about the technology like Bitcoin as decentralized and if you say it is backed by dollars, you should also provide some solid evidence. Just claiming and calling a crypto currency being backed by US dollar is not enough. Even still almost many people are happy with their holdings and have been earning good.
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June 13, 2018, 10:23:26 PM
 #75

so many people to this day do not like bitcoin just like you, but for me this bitcoin is one that can earn bigger profit than gold and US dollar, which i do not like bitcoin ie no fixed price stability

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June 16, 2018, 02:23:37 PM
 #76

I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up.  I see the us dollar as a debt backed currency.  Banks create money through loans, which are in turn backed by houses, cars, and people's incomes.  Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way.  I see it as a fully backed currency, not too much different from being a gold backed currency.  Where am I wrong?

https://www.youtube.com/watch?v=jujwQkhnoU8


Bitcoin has been independent and it helps us independently. We get money from it though it is decentralized so why saying it is backed up by dollar.
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June 29, 2018, 03:25:38 PM
 #77

I don't see bitcoin as the problem to economic growth and to fiat destruction. Bitcoin have risk and also benefits. For now dollar is the standard basis of measurement on bitcoin value that we can identify its price on the market.

Yes, I think the same, for now of course we don't see problems with this.

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July 03, 2018, 06:17:37 AM
 #78

To become a stable price because if bitcoin is stable we feel comfortable and no doubt to our price of bitcoin. And they have possibility that the other investors invest in bitcoin because no doubt in the price btc because stable. And the price is consistent to become higher.
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July 09, 2018, 09:51:15 AM
 #79

Yes you are right. In addition, the volatility of the dollar is quite insignificant in comparison with the crypto-currencies. I will believe that the dollar is worse than bitcoin only after bitcoin has turned into a full currency.

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July 09, 2018, 10:14:41 AM
 #80

We all have our opinions about something's be it good or bad. True that fiat is actually backed up that's why it is called a trust. But i think bitcoin and other crypto currencies are back up by people who wants to buy it much like gold and silver which we use mostly as an accessory. We dictate prices.

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