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Has The Silver Ship Come In?

valamhic

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It appears the total issuance can be limited and extra Bitcoin is achieved by subdividing in to fractions. The fact remains that one Bitcoin is now worth a lot of real money.
 

valamhic

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Some say there is nothing backing crypto currency, but there is nothing backing Dollars or Euros either.
 
Some say there is nothing backing crypto currency, but there is nothing backing Dollars or Euros either.
 
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Youngdan

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All cryptos are akin to tulips in Holland for 2 reasons.

1. Anyone can start their own currency.
2.They can be outlawed at any moment.

Alot of money will be not lost but transferred from one to another.
 

Tadhg Gaelach

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I have been investigating and I am not fully competent with it, but here is some of it.

Blockchain is used by bitcoin. It is the same invention. Blockchain was invented as part of bitcoin although now blockchain does have other uses. All the other alternative coins like Litecoin have their own blockchains.

It can always be used an alternative but I don’t think it will replace credit cards because governments won’t allow it. It can’t be traced (or at least it’s very difficult to trace) so I think bigger companies will avoid it but it could become more popular among smaller businesses. It was first popular among criminals, especially people selling drugs online.

The transaction fees for Bitcoin are a bit high at the moment which is why it’s possible smaller coins like Litecoin and Ethereum will become more popular.


Blockchain is a useful technology, but Bitcoin is entirely delinquent and parasitic and should be banned outright.
 

valamhic

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Gold or silver never changes in price. That is a myth. Its the fiat currency that changes. It always goes down . An ounce of gold mislaid in 1967 when it would buy 34 Dollars and found to day will buy 1500 Dollars. 43 times as much
 

valamhic

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Blockchain is a useful technology, but Bitcoin is entirely delinquent and parasitic and should be banned outright.
Blockchain will be an essential technology shortly. All fraud is eliminated. No government of tax people involved. If you make 100K you do not pay tax in Ireland, but if you cash it in you do,
 

valamhic

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It could easily be banned. The amount of electricity is uses alone is cause to ban it.
How can government stop the use of electricity. Just buy a few carbon credits and say your green.
You can also buy a diesel generator and make your own electricity.
 

Tadhg Gaelach

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Blockchain will be an essential technology shortly. All fraud is eliminated. No government of tax people involved. If you make 100K you do not pay tax in Ireland, but if you cash it in you do,


Well, its fraud is certainly more difficult. But blockchain is not useful in all situations.

 

valamhic

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Sure, but the US dollar would have collapsed years ago - if the US military didn't murder anyone who wants to sell their oil in anything but the dollar.
Agreed that is why they took out Gadhafi. That does not alter the fact that they are printing at a scale never before seen. Governments are scared stiff of people switching to gold, silver or crypto. See shat they did here. The effect was to reduce the price pf gold so no one would want to buy it. They fear a return to gold and silver by the common people. Their fiat money will be no good then

Two decades ago, Gordon Brown sold half of Britain’s gold reserves – was it a bad deal for our economy? | The Independent
 
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Tadhg Gaelach

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Agreed that is why they took out Gadhafi. That does not alter the fact that they are printing at a scale never before seen. Governments are scared stiff of people switching to gold, silver or crypto. See shat they did here.

Two decades ago, Gordon Brown sold half of Britain’s gold reserves – was it a bad deal for our economy? | The Independent


You also have to bear in mind that a currency that can fluctuate by 10,000 USD in one day has no use in the real world. Imagine trying to make a contract in Bitcoin.
 

Tadhg Gaelach

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Bitcoin is the bastard offspring of the 2008 Crash. It's an attempt to take government out of currency transactions. But, it has totally failed to do this. All it is is a means of gambling and contraband.
 

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