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Author Topic: Bitcoin is magic internet money  (Read 358 times)
Ruttoshi
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November 02, 2023, 07:23:18 PM
 #41

OP, I agree with you on whatever you choose to call bitcoin because of the way the price is pumping now. You will sleep and wake up and see that bitcoin price has pumped and to you it is like magic right. I call bitcoin the future digital gold and some persons calls it a safe haven, and so on.

The fact remains that bitcoin is a volatile assest and this makes it more profitable when you invest for a long period of time. There is still time for one to buy and invest and also do regular DCA, so that you can benefit from it. Bitcoin has a great potential and that is why you are carried away and call it magic internet money but the truth is that the decentralized nature is what makes it more unique.

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Kelward
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November 02, 2023, 11:23:02 PM
 #42

Force of gravity is very real on earth and bitcoin is not more magical than seeing a plane flying on the sky with all it's weight and the weights of it's passengers, it's not more magical than using a phone to do video call with someone in a far continent, not more magical than the internet that enables it's usage. In fact when i learned about bitcoin, i wasn't too surprised at the technology, because technological innovations has become a normal thing to me, I've gone beyond wondering how this things comes to manifestations. So if bitcoin is magical, then they're all magical, because they're all like fantacies that comes alive to me. Unless i see a technology that can raise a dead person back to life, then I'll be wowed forever, that technological advancements  or magic has gone beyond human comprehension.

I can say bitcoin is mysterious in a way because of it's anonymous nature, the way it can conceal the identity of the holder, we don't even know the identity of its creator. All the same it's a valuable decentralized asset, whether magical or not.

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November 03, 2023, 04:02:31 AM
 #43

And Bitcoin doesn't really exist, it's just code and we can "see" it in our wallet, we can't touch it like real cash, because it's only 0 or 1 (or hashs).
But still, we can own it, when we own our private key, where we can access it in Bitcoin's Blockchain, what's really magical and we can even send it to someone else in a completely different country to a different address, what’s even more magical.

We're in the 21st century buddy, the concept of money having to be felt is an old school of thought and doesn't make sense in today world, Bitcoin isn't the only money that can't be felt as there are so many other digital currency but they don't match up to Bitcoin qualities though. Bitcoin exists in the digital world and you saying Bitcoin isn't really money is laughable. Bitcoin isn't just Internet money but it's money as it has value outside of the internet. We use Bitcoin physically although isn't widely acceptable yet but that's just a matter of time before it happens.

Bitcoin is magical no doubt but we shouldn't limit our thinking to seeing Bitcoin as just an internet money just because it's digital, everything is going digital as we're leaving behind physical money as they have limitations. Even the fiats are moving digital with the introduction of CBDC. We're in a time of cashless policy dominating the globe as people are more interested in spending money without having to expose their financial status as they can spend with just the swap of their credit cards.
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I don't like the fact you're describing Bitcoin as some fantasy money as you have repeated it been a magical money multiple times. Bitcoin is just like every other currency but has more features to encourage privacy and decentralization. Bitcoin is what money should be which is to serve as a means of exchange and also a store of value because your wealth in Bitcoin keeps increasing unlike fiats that keeps depreciating your wealth value.

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