Downvoted for facts? This place really is turning into fucking Reddit.
It's a provable fact that over the last 4 months, Bitcoin lost around 50% of its value. Will it regain that loss? Maybe, but the fact is it fluctuates too much to be considered a stable currency.
It's essential that a real "digital money" preserve privacy anyway. Monero / ZCash seem far better. But onroading people onto BitCoin is helpful short term (harmful long term)
Without private transactions, the government will simply create blacklists and tell exchanges & miners that they must refuse to do business with certain blocks/wallets.
That only matters if your plan is to stay with fiat for the long term. If you are planning to replace fiat, then who cares what they do with the exchanges?
What are we talking about exactly? You say Bitcoin "has become a cult" and mock the idea that it will "go up any day now", except, it has done just that.
If you are jumping into it this year, then you have experienced losses, so far, but that only matters if you are thinking short term. If you invested even two years ago, you have done nothing but gain value.
If you believe Bitcoin is bad because it has gone down, then what are you going to say if it goes back up again and exceeds its previous level? That's what it has done every single time so far.
If you are just jumping in to make a few quick bucks before you jump out, and you fucked up your timing, then that's not a flaw or problem with Bitcoin. You are gambling like any other day trader.
Bitcoin has gone up 28,000% in its lifetime, 3000% in just the last five years. You're saying that people who buy Bitcoin are dumb based on its performance in the last year?
If you bought it as recently as two years ago, you did nothing but gain. The fact that it has gone down this year is actually a buying opportunity if you are not retarded.
Yeah, no one ever invests money for more than 6 months.
Bitcoin is a perfectly reasonable store for wealth, long term. It's worth about 5000% what it was 10 years ago (pretty good inflation hedge) and it's strongly positioned as an intermediary between fiat currency and all othet crypto so adoption is unlikely to drop, even in the face of government sanctions like we saw recently in China.
What it is bad for is banking, simply because of the volatility. If you can wait until the price is high to pull money then it's great compared to low-interest, centralized banks, and a 6-month low is maybe a good time to buy?
if you don't like BTC or ETH, you can use a dozen different stablecoins that are readily tradeable. stablecoins are pegged to mainstream fiat, can get it on any major fiat currency. have to stick with ones issued by audited issuers though, or there's no proof they actually have the currency to redeem it and you'd just be a bag holder.
the real issue is that you need to keep it in a private wallet, not on exchanges. private wallets cannot be frozen. exchange accounts can.
BTC loses too much value in a day to be a good store of wealth.
Downvoted for facts? This place really is turning into fucking Reddit. It's a provable fact that over the last 4 months, Bitcoin lost around 50% of its value. Will it regain that loss? Maybe, but the fact is it fluctuates too much to be considered a stable currency.
It's essential that a real "digital money" preserve privacy anyway. Monero / ZCash seem far better. But onroading people onto BitCoin is helpful short term (harmful long term)
I think it's far more important that it isn't controlled by a central authority, which could seize funds, than transactions being hidden.
Without private transactions, the government will simply create blacklists and tell exchanges & miners that they must refuse to do business with certain blocks/wallets.
That only matters if your plan is to stay with fiat for the long term. If you are planning to replace fiat, then who cares what they do with the exchanges?
bitcoin has become a cult. its going to go up 500% any day now. you just dont know how to trade them, retard
It’s gone up a lot more than 500%.
If you bought Chipotle in 2010, you would have done nothing but gain, just like Bitcoin.
What are we talking about exactly? You say Bitcoin "has become a cult" and mock the idea that it will "go up any day now", except, it has done just that.
If you are jumping into it this year, then you have experienced losses, so far, but that only matters if you are thinking short term. If you invested even two years ago, you have done nothing but gain value.
If you believe Bitcoin is bad because it has gone down, then what are you going to say if it goes back up again and exceeds its previous level? That's what it has done every single time so far.
If you are just jumping in to make a few quick bucks before you jump out, and you fucked up your timing, then that's not a flaw or problem with Bitcoin. You are gambling like any other day trader.
Once? and then it crashes for a long while. Its mostly traded by suckers atm
Bitcoin has gone up 28,000% in its lifetime, 3000% in just the last five years. You're saying that people who buy Bitcoin are dumb based on its performance in the last year?
If you bought it as recently as two years ago, you did nothing but gain. The fact that it has gone down this year is actually a buying opportunity if you are not retarded.
Yeah, no one ever invests money for more than 6 months.
Bitcoin is a perfectly reasonable store for wealth, long term. It's worth about 5000% what it was 10 years ago (pretty good inflation hedge) and it's strongly positioned as an intermediary between fiat currency and all othet crypto so adoption is unlikely to drop, even in the face of government sanctions like we saw recently in China.
What it is bad for is banking, simply because of the volatility. If you can wait until the price is high to pull money then it's great compared to low-interest, centralized banks, and a 6-month low is maybe a good time to buy?
Yeah I think thats what some of these people are thinking when they say "a store of wealth".
If you were trying to use it as a store of wealth, you would have done nothing but gain value.
if you don't like BTC or ETH, you can use a dozen different stablecoins that are readily tradeable. stablecoins are pegged to mainstream fiat, can get it on any major fiat currency. have to stick with ones issued by audited issuers though, or there's no proof they actually have the currency to redeem it and you'd just be a bag holder.
the real issue is that you need to keep it in a private wallet, not on exchanges. private wallets cannot be frozen. exchange accounts can.
You don’t measure a store of wealth by day to day values. Is the dollar a good store of wealth?
Well I'm not backing down.
I do not believe SHA-2 is secure enough to build a durable store of value.