Bitcoin

[iJatt]

Debate.

 

[Gurekmann Gill]

bubble

 

[BhangraSUCKS]

Litecoin

 

[desi99]

bubble or not, it doesn't really matter

 

[sahab]

Anyone have good literature to read on the topic? When I mean literature, I don't mean BuzzFeed esque articles.

 

[desi99]

I've been following bitcoin for over 4 years now, and it's too complicated to explain to people who have, just learned about it recently...
All I can say is, it is about time the war-profiteering big banks, the corrupt federal reserve, and these bullshit reserve banking systems worldwide as a whole are finally exposed, on a
bigger picture... Bitcoin is bigger than some national currencies now and is used worldwide...
Calling Bitcoin a bubble is like calling the internet a bubble..it just makes no sense
everyone is entitled to their own opinion. but don't be ignorant. Go out and learn about it first..


If you want to learn more in-depth, a must watch:
note: this vid was 2014, now look at the outcome...

 

[iJatt]

I've been following bitcoin for over 4 years now, and it's too complicated to explain to people who have
just learned about it recently...
All I can say is, it is about time the war-profiteering big banks, the corrupt federal reserve, and these bullshit reserve banking systems as a whole are finally exposed, on a
bigger picture... Bitcoin is bigger than some national currencies now and is used worldwide...
Calling Bitcoin a bubble is like calling the internet a bubble..it just makes no sense
everyone is entitled to their own opinion. but don't be ignorant.

simple introduction:

If you want to learn more in-depth watch this (2hrs+):

Good content. Got anymore knowledge to drop?

 

[MohitoK]

Calling Bitcoin a bubble is like calling the internet a bubble..it just makes no sense

Not really, it's more like calling dot-com a bubble. You can still think that Bitcoin is a valuable technology which will be around indefinitely, and still think it's current trajectory is being fueled by insane speculation (and that it'll potentially tank, then level out to a more reasonable price).

 

[desi99]

Good content. Got anymore knowledge to drop?

There is too much content about bitcoin online, everyone can learn about..
but yea
Bitcoin is not the only crypto-currency, although it may be the Godfather of all Crypto-currencies and most utilized crypto-currency.
there are also other smaller crypto-currencies like Etherereum, Dash, Litecoin, a lot of ICO, which are tokens connected to a blockchain that have a monetary value attached to them and also grow, every time bitcoin grows in value...
I mean this is legit money here we are talking, real cash in the system... none of the money in the blockchain is based on fake prediction markets, gold reserves (tht don't even exist), leverage, or future values...
IT is a very safe form of money imo... for example.. if a world war was to ever break out in any nation or a government has been overrun, people who have money sitting in banks or hold cash, are pretty much f**ed and have nothing...But with bitcoin you and only you, have full control over your money, it cannot be seized, frozen, censored, or have any intercepted transactions. you have to look at the bigger picture to understand its use..
we are all in the early stages of Bitcoin, and there have been a lot of millionaires now because of the recent rise in value, over 2000% this year
which is unreal... The more money put in the blockchain and more transactions, the more it will grow in value, just as everyone has seen this year...

It may seem like a huge transition from the traditional banking system that everyone is comfortable with, in North America, but if you look at some countries in Africa, they use BTC more than their national currency (which has the value of peanuts), Asia, middle east, etc it is probably the best thing that happened to them when it comes to exchanging of currency... every single person can use it.. even the poorest of the poorest who will never have access to any bank, can hold and earn money now, through bitcoin..

Bitcoin should not be treated like a stock or a share either.
also, by the way, for a "bubble" to burst, you have to remove a good chunk of the $13,200,100,000 USD already in the blockchain...if that ever happens(very unlikely), mining bitcoin will never stop, so that's a WIn WIn
I mean I can go all day about bitcoin, but its a waste of my time, because 70% of people have a limited and small-minded paradigm about the whole thing..

 

[desi99]

Not really, it's more like calling dot-com a bubble. You can still think that Bitcoin is a valuable technology which will be around indefinitely, and still think it's current trajectory is being fueled by insane speculation (and that it'll potentially tank, then level out to a more reasonable price).

No comment, but I respect your opinion
there have been so many people speculating, and said that same thing even 7 years ago before bitcoin was so big in the media.. not going to debate on this

 

[Aka$h]

lol its irrational exuberance.

 

[desi99]

Litecoin

If you bought Litecoin a few days ago, today you can confidently say

,

 

[BhangraSUCKS]

If you bought Litecoin a few days ago, today you can confidently say

,

I bought 6 when it was at $70. Now at $321.75, actually gone down by 10%.

 

[VickG]

Bought 4 Litecoins a few week ago and boy oh boy am I happy little camper

 

[Gurekmann Gill]

Wait till the governments start to take action, that's what will burst the bubble imo. Ripple is the best crypto

 

[desi99]

Wait till the governments start to take action, that's what will burst the bubble imo. Ripple is the best crypto

what governments and what legit actions are you talking about?
I definitely know, Mr. Trump and his "Make America White again" crew cant do shit, to stop bitcoin or crypto-currencies...
whatever the case is,
there are speculators, and then there are smart Investors/Miners who are milking the system and getting financially rich... be the latter.

 

[BhangraSUCKS]

I just want to take a step back and say I appreciate everyone in this thread for your socio-economic beliefs.

 

[Howie Magz]

Next topic: Net Neutrality

 

[etoteja]

Next topic: Net Neutrality

Doubt there will be much of a discussion unless someone here has a financial stake in a major ISP, but this is still important to talk about. We're really just hoping that these larger companies won't act in favor of profit and will act for the benefit of the consumer, which has never truly happened in my mind. No boardroom is ever going to say "Uh oh we're making too much money, let's give some of it back to the consumers!" so I can't imagine a reality where these giants won't take advantage being able to throttle bandwidth/limit information access for smaller contracts in favor of bigger contracts to entice those with money to pay more. There have already been cases within the last year of the FCC allowing ISPs to charge more (I'm happy to provide links for reference).

Let's hope Congress doesn't allow for the repeal; please email and call your representatives to keep Net Neutrality! And straight up fuck Ajit Pai.

 

[iJatt]

lol its irrational exuberance.

what governments and what legit actions are you talking about?
I definitely know, Mr. Trump and his "Make America White again" crew cant do shit, to stop bitcoin or crypto-currencies...
whatever the case is,
there are speculators, and then there are smart Investors/Miners who are milking the system and getting financially rich... be the latter.

Bubble or not, its hard for speculators to genuinly understand the concept of being decentralized, let alone the beauty of block-chain technology.

I invite speculators to spend some time into exploring how the concept of putting currency on a decentralized block-chain works in comparison to how the monetary system is currently functioning. I promise you at the very least you will open your eyes and have some questions.