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bitpump (OP)
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June 05, 2014, 07:23:18 AM |
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Bitcoin is first 'global reserve currency' NOT dominated by a country  |
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DobZombie
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June 05, 2014, 11:16:56 AM |
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Nice graph bro  |
Tip Me if believe BTC1 will hit $1 Million by 2030
1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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TimS
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June 05, 2014, 12:00:51 PM |
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Since when is Bitcoin a global reserve currency? It could be, sure, but it's not used as such as far as I'm aware.
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newuser01
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June 05, 2014, 12:01:59 PM |
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Since when is Bitcoin a global reserve currency? It could be, sure, but it's not used as such as far as I'm aware.
soon™ |
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franky1
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June 05, 2014, 12:03:18 PM |
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Since when is Bitcoin a global reserve currency? It could be, sure, but it's not used as such as far as I'm aware.
thats the point of the graph... bitcoin is not already a global reserve currency.. the graph clearly shows its not one prior to 2014....... the graph is pointing out that, its getting near to the point (hopefully this year) to BECOME!! a reserve currency. soon™
+1 atleast you get it |
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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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whtchocla7e
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Worlds Simplest Cryptocurrency Wallet
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June 05, 2014, 12:21:54 PM |
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It will be dominated by evil, greedy corporations though.
Only time will tell which type of dominiation is worse for me, the consumer.
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franky1
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June 05, 2014, 12:31:53 PM |
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It will be dominated by evil, greedy corporations though.
Only time will tell which type of dominiation is worse for me, the consumer.
dont sell your coins then keep them and they wont be owned by a greedy corporation, but if you sell them then you obviously dont want bitcoins so in that respect it wont matter to you because you seem to have preferred to go back to fiat |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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ReserviorHunt
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June 05, 2014, 01:20:22 PM |
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Such ideal
Much Dumb
You realize whoever controls the most hash can easily screw bitcoin.......right?
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Aswan
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June 05, 2014, 01:26:44 PM |
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Such ideal
Much Dumb
You realize whoever controls the most hash can easily screw bitcoin.......right?
Thats not how it works, sry. You need go get more than 50% of the has power to actually do something, not just the most. |
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jambola2
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June 05, 2014, 01:33:10 PM |
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Such ideal
Much Dumb
You realize whoever controls the most hash can easily screw bitcoin.......right?
Thats not how it works, sry. You need go get more than 50% of the has power to actually do something, not just the most. cex.io has over 40%. They sold off some of their power in order to prevent Bitcoin from falling due to lack of investor confidence. However , they can easily get sufficient mining power if they tried to dominate Bitcoin. This is exactly what Bitcoin is against , the fact that a single person or group of people has the power to make decisions , even if they are trustworthy. |
No longer active on bitcointalk, however, you can still reach me via PMs if needed.
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Aswan
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June 05, 2014, 01:39:01 PM |
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Such ideal
Much Dumb
You realize whoever controls the most hash can easily screw bitcoin.......right?
Thats not how it works, sry. You need go get more than 50% of the has power to actually do something, not just the most. cex.io has over 40%. They sold off some of their power in order to prevent Bitcoin from falling due to lack of investor confidence. However , they can easily get sufficient mining power if they tried to dominate Bitcoin. This is exactly what Bitcoin is against , the fact that a single person or group of people has the power to make decisions , even if they are trustworthy. Sure, but there are existing solutions for that (like PoS). Eventually we'll all switch to another cryptocurrency that is less likely to be attacked that way. |
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BADecker
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June 05, 2014, 01:41:06 PM |
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What Bitcoin is or is not remains a question. However, Bitcoin is NOT the FIRST global reserve currency. The United States Dollar as we have it now is a global reserve currency that preceded Bitcoin. The Federal Reserve Bank is the maker and controller of the USD. The Fed is an international company. The fact that it resides in the United States simply gives benefits to the people of the United States. If the U.S. decided to shut down the Federal Reserve Bank, they couldn't do it. They might be able to make certain adjustments on how and where the Bank operated, but they couldn't shut it down. The most they could do is force it offshore. The Fed is essentially international. The USD that it manipulates is probably the first TRULY global currency. It is a currency that is backed by debt and credit rather than value. The major difference between the USD and Bitcoin is that Bitcoin is a PRIVATE currency while the USD is public. The second difference is that the Big Banking Boys do not control Bitcoin directly. This IS because, Biotcoin, by its nature, is a private currency rather than a public one like the USD.  |
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CryptoKilla
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June 05, 2014, 01:45:28 PM |
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Nice graph and very interesting. Unfortunately it seems like it's only a matter of time because this changes. I hope it never does but something with this much potential will not remain the same forever.
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Ron~Popeil
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June 05, 2014, 02:16:13 PM |
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What Bitcoin is or is not remains a question. However, Bitcoin is NOT the FIRST global reserve currency. The United States Dollar as we have it now is a global reserve currency that preceded Bitcoin. The Federal Reserve Bank is the maker and controller of the USD. The Fed is an international company. The fact that it resides in the United States simply gives benefits to the people of the United States. If the U.S. decided to shut down the Federal Reserve Bank, they couldn't do it. They might be able to make certain adjustments on how and where the Bank operated, but they couldn't shut it down. The most they could do is force it offshore. The Fed is essentially international. The USD that it manipulates is probably the first TRULY global currency. It is a currency that is backed by debt and credit rather than value. The major difference between the USD and Bitcoin is that Bitcoin is a PRIVATE currency while the USD is public. The second difference is that the Big Banking Boys do not control Bitcoin directly. This IS because, Biotcoin, by its nature, is a private currency rather than a public one like the USD. You could argue whether or not having the fed in the US is good for us or not. The faster people divest from fiat currency the faster the feds power shrinks. |
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