Bitcoin

Out of context: Reply #1936

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  • drgs9

    "it's still very early days"
    It has been 12 years. A person can be conceived, be born, earn part time money delivering newspapers, and lose it all in BTC during this time.

    Imagine you are a car merchant. You sell a car for 1 BTC (which by chance is the "correct" BTC value at the time of purchase). The next day BTC dumps 20%.

    Imagine you want to buy a car. You pay 1 BTC. The next day BTC pumps 20%.

    A currency is only useful if its stable, not at the time of purchase, but just holding it in general.

    The world sees absolutely no urgent need to adopt it, because Bitcoin fixes nothing.

    Bitcoin is for gambling, like internet is for porn. It is its only use

    drgs 9Permalink
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    • Bitcoin is a store of value rather than a currency at this point. Look into stabkecoins such as DAI.zaq
    • lol 12 years on and still going on as if btc is a currency.inteliboy
    • everyone is free to do whatever they want. You do gamble, I do savings.ESKEMA
    • I remember 5 or so years ago there was still a lot of talk of it being a currency, even small local shops tried to accept Bitcoin.yuekit
    • It's not a currency. It's a store of value, and only a fraction of the world has started to get that, hence fluctuations in price.shapesalad
    • You are welcome to keep cash under your mattress, or exchange it for property(with on going maintenance costs), gold/silver(make sure you have it in handshapesalad
    • and stored in a good quality safe), or bitcoin - easy few clicks to buy, a usb stick to store. Easy to liquidate, store and transport.shapesalad
    • Can not be seized by government, can not be manipulated by a central bank or government. If you had a few $m to $b where would you store that value?shapesalad
    • Of course you can buy stocks also, and value investments stocks that pay dividend and have no debts are arguably a good alternative to bitcoin.shapesalad
    • But both serve different purposes, hence it's with putting 5% of your portfolio into BTC, rest in long long value investment companies with moats.shapesalad
    • Fooled by randomnessbabydick
    • if kid keeps the worthless coins, he‘ll be set by 20...if he sells them at low price he‘ll learn also a lesson. no difference.uan
    • Except for your last porn analogy I agree.SimonFFM
    • Correct. It has to be converted to a currency.Hayoth
    • It's a pisspoor way of storing value, it's been incredibly unstable and it looks like that's a built in feature. Central banks were invented for a reason...zarkonite
    • If the ground under your house was as unstable as bitcoin no one would say they have a safe home. You'd fucking move.zarkonite
    • I think you should think in decades / generations not in years. these days regulation makes a currency stable. this is what's nowhere with bitcoinsted
    • I'm having a lot of fun spreading it about a bit more now. I just had it sitting in bitcoin for years (not a lot 1kish). had written it off after the big crashfadein11
    • its now double. (yes I was late to the game)
      and it's kind of fun playing with the volatile coins. made more today than just leaving it in bitcoin      fadein11
    • imagine if that person held bitcoin for 12 years, it would be a very poor person today right. Those poor people that held for 12 years are now rekt.ESKEMA
    • right?ESKEMA
    • @ESKEMA even the real Michael J. burry is against the BTC bubble, you're basically signalling you have zero morals lolgrafician
    • https://coinspice.io…ESKEMA
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