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Author Topic: Don't you think we should use BTC as a medium instead of capital gain ?  (Read 349 times)
franky1
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July 09, 2018, 12:37:41 PM
Last edit: July 09, 2018, 12:49:55 PM by franky1
 #21

OP, I assume you are asking from a point of view that Bitcoin's future "would be better" if it was a medium of exchange first, and a store of value second?

You should remember that it took gold hundreds of years to become a good and stable store value before it became a medium of exchange. I believe Bitcoin will follow the same path and will take as much time as it can too.

so your saying just sit on your hands and wait and see...

so what your saying is dont use bitcoin and wait hundreds of years... (facepalm)

WOW your more sheepish by the day

firstly gold was in ancient eqypt treated as an asset. held only by rich pharoahs. (store of value(sign of wealth)). then it became more common when the wild west mining occured. then it again became something only the rich hoarded again and people commonly handled other things.. this time paper.

stop comparing bitcoin to gold. gold had features/utility/ benefits and reason to mine it. if you really want to stick with the ass kissers that want to lock bitcoin up and let commoners just play around with unaudited/unconfirmed transactions that need second party approval. then go play with fiat.
letting the dvs strangle onchain utility/innovation purely to side step people into other ntworks . is like how the bold standard bank notes and eventual removal of gold backed notes occured,

the ethos of bitcoin was to have something that can be USED to not need to rely on fiat.. but if all bitcoin is going to turn into is hoarding and playing with offchain fiatesque insecure 'receipts' and only re-entering onchain to so that fiat lovers can run back to fiat with more fiat.. then the ethos and purpose of bitcoin is lost.

how about stop kissing devs ass. stop letting them divert attention away from bitcoin and towards unaudited sidechains/other networks/social dramas.. and actually get them to sort out the mainnet.

are you really that fooled by thinking bitcoin can continue as is.. but also be treated as the thing that cant scale.. where the only reason is it cant scale is those shouting it cant scale are the ones preventing it from scaling.
do you not see Luke Jr flip flop about with his 2mb is bad.. thn 4mb weight is good. bitcoin cant scale, vaulting bitcoin and using hub managers is good..

i emphasise bitcoins mainnet has gone stagnant because the devs only care about their commercial services..
i emphasise bitcoins mainnet needs new devs that will concentrate on mainnet.. not the alternative networks rquiring second party permissions.

do not even bother screaming the PR adverts of alternative networks. its all been said and done. years ago it was if you dont like it F**k off.
LN is not a sole feature that will 'make bitcoin great again' the dvs screaming bitcoin cant scale are already dsigning LN to be used to move people to altcoins which will settle onchain(of the altcoin) fastr and cheaper than settling bitcoin onchain. thus permenantly locking bitcoin into "factories" (fort knox vaults)

i really am astonished how so many are brainshwashed into thinking bitcoin is a AI that self fixes and all that is required is sticking head in the sand, sitting on our hands and waiting for utopia..

oh and if you want to rebut that bitcoin price will kep bitcoin in number 1 spot.. ur fooling yourself. if the dvs you love so much initiate a PoW change to make it cheaper to mine (facepalm) guess what.. it will be cheaper to mine, thus easier to sell for less and still profit, thus the support levels evaporate.
imagine if gold only cost $1 to mine 1 ounce. instead of near $1k per ounce..
imagine if gold had no function/utility for day to day use and became only a hoarder asset.

think about it
oh and dont reply with the core defense cap on. just talk about BITCOIN not defend the devs..  the devs are temporary and have lost interest. as i said even they are saying bitcoin is dead by saying it cant scale and cant be a medium of exchange.. so stop defending them.

now take some time and think about bitcoin. the mainnet protocol. not the crapcoin sidechains and LN altrnative unaudited networks.
think about defending bitcoin and actually realise there are issues and they need sorting.


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July 09, 2018, 02:52:50 PM
 #22

We should start considering Bitcoin as a currency rather than a long-term investment which will generate profit. To generate profit, Bitcoin will have to become popular thanks to being widely accepted and needed. Too many people focus only on the price and complain about it all the time. I'm fed up with it, I hope that people will change their attitude.
Thanks,  I am totally agree with you. I am working on this issue for a long time.
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July 10, 2018, 06:16:49 AM
 #23

OP, I assume you are asking from a point of view that Bitcoin's future "would be better" if it was a medium of exchange first, and a store of value second?

You should remember that it took gold hundreds of years to become a good and stable store value before it became a medium of exchange. I believe Bitcoin will follow the same path and will take as much time as it can too.

so your saying just sit on your hands and wait and see...

so what your saying is dont use bitcoin and wait hundreds of years... (facepalm)

WOW your more sheepish by the day

Did I say that? Wait for hundreds of years before it can be used as a medium of exchange? Are you that moronic? #facepalm

Quote
firstly gold was in ancient eqypt treated as an asset. held only by rich pharoahs. (store of value(sign of wealth)). then it became more common when the wild west mining occured. then it again became something only the rich hoarded again and people commonly handled other things.. this time paper.

stop comparing bitcoin to gold. gold had features/utility/ benefits and reason to mine it. if you really want to stick with the ass kissers that want to lock bitcoin up and let commoners just play around with unaudited/unconfirmed transactions that need second party approval. then go play with fiat.
letting the dvs strangle onchain utility/innovation purely to side step people into other ntworks . is like how the bold standard bank notes and eventual removal of gold backed notes occured,

Ass kissers? The ass kisser here is you for sticking with the fraudster Roger Ver who is also allied to the scammer Craig Wright. If you want to attack the argument then go ahead. But there should be respect.

Quote
the ethos of bitcoin was to have something that can be USED to not need to rely on fiat.. but if all bitcoin is going to turn into is hoarding and playing with offchain fiatesque insecure 'receipts' and only re-entering onchain to so that fiat lovers can run back to fiat with more fiat.. then the ethos and purpose of bitcoin is lost.

I would be happy to see Bitcoin Cash scale to billions of users only to prove the point that the block size must be regulated, and to scale, offchain is the best way to do it.

Quote
how about stop kissing devs ass. stop letting them divert attention away from bitcoin and towards unaudited sidechains/other networks/social dramas.. and actually get them to sort out the mainnet.

No, you stop kissing Roger Ver's ass. Haha.

Quote
are you really that fooled by thinking bitcoin can continue as is..

You are fooled that big blocks for Bitcoin are sustainable. But in Bitcoin Cash it is ok because no one uses it. Dogecoin has more transactions onchain. Hahaha.

Quote
but also be treated as the thing that cant scale.. where the only reason is it cant scale is those shouting it cant scale are the ones preventing it from scaling.
do you not see Luke Jr flip flop about with his 2mb is bad.. thn 4mb weight is good. bitcoin cant scale, vaulting bitcoin and using hub managers is good..

Stop going back to your "Luke Jr" debate. Quote the source and be done.

Quote
i emphasise bitcoins mainnet has gone stagnant because the devs only care about their commercial services..

What "commercial" services and what "stagnant mainnet"? Both lies. The stagnant mainnet is Bitcoin Cash with its almost empty 32mb blocks!

Quote
i emphasise bitcoins mainnet needs new devs that will concentrate on mainnet.. not the alternative networks rquiring second party permissions.

Is that the real goal? Kick out the Core developers? Who do you believe should replace them?

Quote
do not even bother screaming the PR adverts of alternative networks. its all been said and done. years ago it was if you dont like it F**k off.
LN is not a sole feature that will 'make bitcoin great again' the dvs screaming bitcoin cant scale are already dsigning LN to be used to move people to altcoins which will settle onchain(of the altcoin) fastr and cheaper than settling bitcoin onchain. thus permenantly locking bitcoin into "factories" (fort knox vaults)

What? Hahaha. Everyone wear your tinfoil hats. franky1 is spreading Roger Ver's misinformation again.

Quote
i really am astonished how so many are brainshwashed into thinking bitcoin is a AI that self fixes and all that is required is sticking head in the sand, sitting on our hands and waiting for utopia..

Utopia will then be in Bitcoin Cash because "Bitcoin Cash is Bitcoin because Satoshi's Vision"? Maybe kick out Roger Ver then make the coin good on its own merit instead of your Bitcoin FUD and misinformation.

Quote
oh and if you want to rebut that bitcoin price will kep bitcoin in number 1 spot.. ur fooling yourself. if the dvs you love so much initiate a PoW change to make it cheaper to mine (facepalm) guess what.. it will be cheaper to mine, thus easier to sell for less and still profit, thus the support levels evaporate.

imagine if gold only cost $1 to mine 1 ounce. instead of near $1k per ounce..
imagine if gold had no function/utility for day to day use and became only a hoarder asset.

There are calls for a POW change but the majority of developers will be against it. Do not talk about it as if it is sure of happening to misinform the people.

Quote
think about it
oh and dont reply with the core defense cap on. just talk about BITCOIN not defend the devs..  the devs are temporary and have lost interest. as i said even they are saying bitcoin is dead by saying it cant scale and cant be a medium of exchange.. so stop defending them.

Satoshi will talk about Bitcoin. He will not defend Core.




Plus no one said it cannot be a medium of exchange. But it is a store of value first, medium of exchange second.

Quote
now take some time and think about bitcoin. the mainnet protocol. not the crapcoin sidechains and LN altrnative unaudited networks.
think about defending bitcoin and actually realise there are issues and they need sorting.



Defending Bitcoin? But where is the "attack"? The only attack I see is Bitcoin Cash and Roger Ver saying that "Bitcoin Cash is Bitcoin".

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July 10, 2018, 05:32:23 PM
 #24

People have earned a lot of money investing on BTC and the way its popularity is increasing, there'll surely be more demand in future for investing. However, in different countries BTC is also used as a medium of exchange. For example, in different places compensation of employees is given using it. Though, the popularity as a medium is low. It may gradually increase in future.
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July 10, 2018, 07:47:45 PM
 #25

Just use bitcoin as you want,because bitcoin was found to be used under freedom so there is no definite path to use it,just use on your mind how it wants to.I like to do use it as a currency not as a bump and dump coin so I am just holding now until the time comes when we can use bitcoin to buy a coffee or a vodka. Cheesy

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July 10, 2018, 07:55:00 PM
 #26

Bitcoin holding is very risky and I think holders are rewarded with the capital gain , it is not to be used as only medium for exchange but as an investment tools also.
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July 10, 2018, 08:30:39 PM
 #27

Yes I agree with you on this. We shouldn't limit bitcoin to investment s only. Rather we must use it as a medium of transaction like the traditional currency. I want to use bitcoin in day to day life.

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July 10, 2018, 09:11:18 PM
 #28

Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
Why should we choose if it should be an investment or currency if it can be both? Remember that currency like usd can also be an investment so why not with cryptocurrency that is way better investment that usd because of its high volatility. And also ask yourself where can you use your Bitcoin, in some places I agree that there are already some uses for it, but how about other places that merchants and stores still don't want to add Bitcoin to their payment options? so people there have no choice to use it for payment. For me before this thing to happen, businesses should start adopting Bitcoin payments and also people should be willing to use their Bitcoins as payment, because it is useless if businesses will just adopt it but no one wants to use their Bitcoins.
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July 10, 2018, 09:14:49 PM
 #29

Yes I agree with you on this. We shouldn't limit bitcoin to investment s only. Rather we must use it as a medium of transaction like the traditional currency. I want to use bitcoin in day to day life.

Everybody who invests in Bitcoin and expects price increase is due to the trend of the market. All the old investors have made a lot of money, and new investors are looking to make a profit like the old investors. So they see Bitcoin as a coin that can invest and make a profit
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July 10, 2018, 09:17:19 PM
 #30

Many have long been used as a means of payment. For me it is a slow processing process. And so far I see only as an investment for the future.
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July 10, 2018, 09:18:00 PM
 #31

As far as I know, Bitcoin was created to be a form of payment on the internet. But it seems a lot of people have misunderstood the Bitcoin feature, and they think Bitcoin is like gold.  So they invest in Bitcoin rather than use  Bitcoin as a means of payment

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July 10, 2018, 09:24:16 PM
 #32

Yes it is true, but most people do not care about it. I think most people here just because of the profits. And if this were not then the people here were much less.
I agree with your opinion. 100% everybody invest in Bitcoin and want to make a profit from the price increase. I guess many people still do not know why Bitcoin was  created for what purpose

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July 11, 2018, 05:09:42 AM
 #33

Yes I agree with you on this. We shouldn't limit bitcoin to investment s only. Rather we must use it as a medium of transaction like the traditional currency. I want to use bitcoin in day to day life.


You already can in some limited way. But why use Bitcoin if you already have fiat? It would be better to store all your coins for a rainy day, and a higher price. Cool

It was first thought out to be as a "digital cash" payments system, but after a few years since the genesis block, it was found that it would be not that simple. There are issues in scaling, maintaning decentralization, growing the network, etc that need to be tackled.

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July 11, 2018, 05:45:36 AM
 #34

Having Bitcoin as a Store of Value only, will only damper it's growth. You need to utilize it as it was intended by Satoshi as a alternative for the Cash system. Satoshi did not say that bitcoins should be hoarded for many years, he developed the whole protocol around a concept that it should be a payment system.

I see no reason why it should not be used for both a medium of exchange and a store of value. There should just be a balance between the two use cases. ^smile^

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July 11, 2018, 05:45:57 AM
 #35

bitcoin in some countries as already treated as capital gain they want to implement tax on  assets buying crypto currency with fiat  is taxable
selling crypto currency to fiat is also taxable ,   getting profits from crypto currency ,they want to bring  crypto currency under capital gains from investment .
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July 11, 2018, 08:43:01 AM
 #36

Actually BTC have good value in market already because many people wants to invest money in here also they give lots of profit to their customers based on this many people use this as a income source also they can earn lots of profit instead of this people can get healthy income.
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July 11, 2018, 08:50:51 AM
 #37

obviously yes but there are sometimes restrictions for using bitcoin as a currency. for example i may want to buy groceries with bitcoin next time i go grocery shopping but the store doesn't accept bitcoin so what other choice do i have but to use fiat and use bitcoin as my investment?

and bitcoin is still young and it will be some time before it is mass adopted, has a huge price and becomes stable. by that time people will automatically shift towards using it more as a currency.

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July 11, 2018, 09:02:34 AM
 #38

Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.

Well bitcoin can perform both, bitcoin is commong closer to what the fiat can do, therefore it is possible for it to become medium of transaction in the near future as well as it can be use to capital gain. Bitcoin is very flexible where as it can adapt to what the society needed for it to.perform.
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July 11, 2018, 09:14:55 AM
 #39

Well Bitcoin is a decentralized currency and one is free to use it as he thinks right. There isn't only a single use case for Bitcoin, it can be used as a payment medium or as a store of value or for many other things. There's no harm in any of them. As the adoption increases people will automatically start using Bitcoin as a medium.

 
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July 11, 2018, 09:42:43 AM
 #40

Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
I agree with you, we can use BTC as a medium of transactions in every outlet that accept BTC as a means of payment in their store for the existence of BTC increasingly known and can lift the name BTC and the existence of the more famous BTC
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