BITCOIN as an alternative to regular currency

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mobius
Posts: 4
Joined: Wed Oct 18, 2017 10:15 am

Wed Dec 06, 2017 1:04 pm

Moneybox Live BBC R4 3PM this afternoon -Discussion about crypto currencies .

Zenyatta
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Joined: Thu Mar 11, 2010 4:17 pm

Thu Dec 07, 2017 7:32 am

Gone over $US 14,000.

Mad. Absolutely no point in using it as a currency when the price is all over the show, so basically the only rationale for it would be as a store of value. But does this really make sense? It could be argued that the real value is in the underlying technology (the blockchain) rather than the currency, but the trouble is the same technology can be duplicated by hundreds (no thousands!) of other competing cryptocurrencies.

The bottom line is that Bitcoin is worth nothing. You'd be nuts to buy any of it. As to gambling to make a quick buck, I think sports betting is a far better bet (not to mention much quicker and more fun).

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marksmeets302
Posts: 458
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Thu Dec 07, 2017 10:07 am

Mining service NiceHash has been hacked; some $60M worth of bitcoins stolen:
https://www.bloomberg.com/news/articles ... ium=social

Zenyatta
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Thu Dec 07, 2017 10:43 am

marksmeets302 wrote:
Thu Dec 07, 2017 10:07 am
Mining service NiceHash has been hacked; some $60M worth of bitcoins stolen:
https://www.bloomberg.com/news/articles ... ium=social
We shouldn't laugh but... :twisted:

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marksmeets302
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Thu Dec 07, 2017 10:48 am

Zenyatta wrote:
Thu Dec 07, 2017 10:43 am
We shouldn't laugh but... :twisted:
It's a matter of time, until the world runs out of greater fools ;)

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Euler
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Thu Dec 07, 2017 9:00 pm


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Euler
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Fri Dec 08, 2017 11:17 am

SEC Halts a Silly Initial Coin Offering

https://www.bloomberg.com/view/articles ... n-offering

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Euler
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Fri Dec 08, 2017 4:29 pm

According to my spreadsheet and the latest market price, Bitcoin's in circulation are now worth more than the GDP of 150 of the 191 countries in the world that I have data on.

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Euler
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Fri Dec 08, 2017 8:34 pm

I've just learnt that you no longer need to worry about the future of Bitcoin because the future has been told right here: -

https://www.reddit.com/r/Bitcoin/commen ... re_to_beg/

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northbound
Posts: 124
Joined: Mon Mar 20, 2017 11:22 pm

Fri Dec 08, 2017 8:48 pm

Just read that Reddit story, quite thought provoking.

Meanwhile, this month the Waves blockchain project will update its blockchain software to support a whopping 100 transactions per second, compared to the 5-10 that Bitcoin and Ethereum currently support.

Crypto is not all about Bitcoin, it seems.

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