Bitcoin and its long term value

Originally Posted by Disguised

BTC was more as a POS of what a blockchain is and can do. And I truly think that a blockchain is the future, however I don't think the cryptocurrencies which also run on a blockchain are the future. But it might be a solid replacement for local banks.

no it won't be a good replacement. So many flaws that so many people fail to realise. What happens when you die? What happens when you get hacked? Why should I pay anything fees every time I buy something when I can pay $0 with visa or MasterCard? What happens if someone finds my secret key? What happens if I am at the store, wanting to pay for my groceries and I have to stand there for 5-60 minutes for my transaction to confirm? What happens if I forget to bring my wallet? I always keep $20 in cash on the back of my phone case or in my car. If I lose $20, idc, if I lose my wallet, I am worried af

Originally Posted by Allura

no it won't be a good replacement. So many flaws that so many people fail to realise. What happens when you die? What happens when you get hacked? Why should I pay anything fees every time I buy something when I can pay $0 with visa or MasterCard? What happens if someone finds my secret key? What happens if I am at the store, wanting to pay for my groceries and I have to stand there for 5-60 minutes for my transaction to confirm? What happens if I forget to bring my wallet? I always keep $20 in cash on the back of my phone case or in my car. If I lose $20, idc, if I lose my wallet, I am worried af

I get your point. But out of all the terms you mentioned only one is true: and that is when someone gets my 10 phrase key.
There are multiple currencies which are not based on "network fees" but still are working on a blockchain, and they are faster than your usual bank transaction and can handle way more payments at the same time than current banking systems can. I am not saying I support it to replace it, but if it does: it only has benefits.

Just imagine it from another standpoint: You still pay with your creditcard (or debit card, whatever) but back end everything is running decentralized and faster and more reliable, that's something, as of now, is only possible due to blockchain technology. It's about the blockchain technology, and not about the coin. So the "wallet" is not what I am referring to, more like a decentralized banking experience.

Originally Posted by Disguised

I get your point. But out of all the terms you mentioned only one is true: and that is when someone gets my 10 phrase key.
There are multiple currencies which are not based on "network fees" but still are working on a blockchain, and they are faster than your usual bank transaction and can handle way more payments at the same time than current banking systems can. I am not saying I support it to replace it, but if it does: it only has benefits.

Just imagine it from another standpoint: You still pay with your creditcard (or debit card, whatever) but back end everything is running decentralized and faster and more reliable, that's something, as of now, is only possible due to blockchain technology. It's about the blockchain technology, and not about the coin. So the "wallet" is not what I am referring to, more like a decentralized banking experience.

As a customer (not a crypto nerd) all these back end things don't actually matter. Think about the average Joe buying a phone or a computer. I only met people who buy laptops based on its look. Only hard core gamers and comp nerds care about stats. As long as the speed feels reasonable (which I believe most people feel tapping your card to pay, and getting the approved message time length is reasonable), the customer could literally care less.

Once you've been in crypto for a decade, you'll see how useless it is, with the exception of all the anonymity (which lets you gamble/buy things without age restrictions) and all its pump and dumps. Trust me, everything you say, I once believed too. I bet you, somewhere on MPGH I probably wrote the same thing. Its been over 12 years and it still hasn't proven itself to be a currency. I literally remember a phase everyone saying it will replace money. Then once the post-2017 dump happened, everyone saying it will replace gold

Crypto is not going anywhere anytime soon, but...
Bitcoin for retirement, it's a no.
Buying now its an headshot, speculation exist, it was a must when on 3k, now dont do it, because it going to fall hard.
BTC grows with "darknet" business and anonymous label, if they loose that, its crash overnight.

idk, never been fan of crypto currencies. They are extremely inefficient, EXTREMELY. The transactions can take hours. There is no insurance. There are no regulations. (one could argue this is a good thing, I will not) Scammers are everywhere. Extremely difficult to trace.

Money is everything. If you get in a position where you cannot be audited. Where fraud is the norm. I certainly cannot see any future in this.

Maybe if a crypto currency can overcome the majority of these issues, it will go somewhere. But otherwise I really cannot see it going anywhere.

Up

Think it's gonna hit at least 50k ngl

Originally Posted by Dave84311

Bitcoin has no real world value. The data is meaningless and worthless. It's all gambling and speculating value based on that.

The most honest answer.

Originally Posted by Luverdark

IMO the issue with crypto is that it's supposed to be used a currency.

Currently 80% the world uses it as an investment tool, and another 15% to buy drugs with it.

Literally nobody uses bitcoin for the normal transactions it should be used for.

BTC is used what it's meant for... yes. people use it for investing. but more people use it to send and receive payments.. as well as holding it because why the fuck would you want to hold it in a bank with shit interest rates.

Originally Posted by discave

BTC grows with "darknet" business and anonymous label, if they loose that, its crash overnight.

But they will never lose that. lol?

More and more people and companies now accept bitcoin purely because it's much better than accepting any other payment options. Bitcoin will survive without the dark net. even though the darknet will NEVER go away and it's just going to keep getting bigger.

Originally Posted by Silent

Maybe if a crypto currency can overcome the majority of these issues, it will go somewhere. But otherwise I really cannot see it going anywhere.

Alt coins

Originally Posted by Dr. Dre

But they will never lose that. lol?

They will. More and more exchange companies are getting ID to exchange BTC. And BTC only works if you have exchange, the coin itself dont worth anything.
Not even talking in exchange fees and bla, bla.
And Crypto cant be on the real market, you can see online market, but not on real.
You cant sell a car worth 30k at 11am, going lunch and at 14pm lose all your money, because btc fall into 2k, thats not how economy can work, not trusty.
You see people making business with BTC, but BTC in not the business, exchange is.

Originally Posted by discave

They will. More and more exchange companies are getting ID to exchange BTC. And BTC only works if you have exchange, the coin itself dont worth anything.
Not even talking in exchange fees and bla, bla.
And Crypto cant be on the real market, you can see online market, but not on real.
You cant sell a car worth 30k at 11am, going lunch and at 14pm lose all your money, because btc fall into 2k, thats not how economy can work, not trusty.
You see people making business with BTC, but BTC in not the business, exchange is.

But if businesses are accepting it, then they obviously understand the concept of it and know its not a short term thing.

We also won't lose the darkweb because everyone selling on the darkweb are already money laundering successfully despite kyc and all that.

Originally Posted by Dave84311

all it takes is one whale to dump their cash out now and everyone will start panic selling

Exactly. that's why you go balls deep in alts* instead

Originally Posted by Dr. Dre

But if businesses are accepting it, then they obviously understand the concept of it and know its not a short term thing.

We also won't lose the darkweb because everyone selling on the darkweb are already money laundering successfully despite kyc and all that.

Exactly. that's why you go balls deep in alts* instead

the same thing is going to happen as the past

BTC and alts hit historic highs
retards buy in at highs
people cash out
BTC and alts fall
bag holders until they need to sell at a loss
rinse repeat

35k eeeeeeeeek

Originally Posted by Dave84311

35k eeeeeeeeek

I bet you feel dumb now huh. I been telling everyone to GO BALLS IN ON BITCOIN.

Totally not going back on my opinion from the last few years....e.e

Bitcoin gay.

Originally Posted by Eternity

I bet you feel dumb now huh. I been telling everyone to GO BALLS IN ON BITCOIN.

Totally not going back on my opinion from the last few years....e.e

Bitcoin gay.

nah i dont feel dumb
you can bet money on anything
i know people who bought in at a buy at dumb price and became bag holders until recently
its gambling
who knows when the bottom end will drop out
all it takes is one whale to dump their cash out now and everyone will start panic selling

Bitcoin is losing all it's anonimity as wallets (online) require ID verification it's become really lame

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