/BlockChain is has gone private due to an extreme influx of ICO scams, snake-oil shills and plagiarized crypto-news blog spam. There is no application process and new members are not being added. Contacting the mod team will not result in an invitation.
CMV: Bitcoin is a fiat currency and has no intrinsic value
Bitcoin is just as worthless as other fiat currencies around the world. For starters it has no commodity backing it like the dollar under the gold standard. It does have a cap of 21 million bitcoin but there can be an infinite amount of cryptocurrencies created with the same criteria (Bitcoin gold, Bitcoin cash, etc). The only reason people today believe it has value is because it is not under government control. Essentially, it only has value because other people believe it has value. Finally I would like to say that Bitcoin does have some good going for it. For example, it would be a convenient way to send money to someone but my main point being that it is not actually worth anything. Please try and change my mind. Thanks! Edit: many people are mentioning how the dollar is not on the gold standard. I know that. I’m saying the dollar was backed by a commodity under the gold standard. I do see how my original wording could have been confusing.
Started investing in bitcoin using coin base pro. But as I look more into it most guides recommend storing your currency on an offline ledger or wallet. How do you protect yourself from a flash crash or 20% drop in value if its in a wallet?
Everywhere I see points to not leaving your crypto or cash on an exchange as they can get hacked, or your account can get hacked and your money taken. They recommend you use an offline ledger like the Ledger Nano X as an example, or a digital wallet. This is all fine but how do you protect your bit coin value in the case of a flash crash? Or do you need to choose? Thanks for all the responses and helping understand :)
"Big Bitcoin Cash whales are not going to return until the protocol development is professional, nonpartisan, productive, and adheres to values needed to maintain a global open-source market currency consistently."
ECB starts thinking about going digital with the Euro, does not consider crypto "because crypto-currencies lack intrinsic value and there is no reliable institution backing them". (x-post from /r/Bitcoin)
This is my pi profile, pi is a Crypto currency like bitcoin, unlike bitcoin pi doesn't need softwares and it can be simply mined on your phone. It's miners/pioneers are rapidly increasing by 2021 it will reach mainnet and will have real value, now there are 8m miners, join using my invitation code.
@TheEconomist: The dollar fell by more than 4% against a basket of other major currencies in July, the largest monthly decline in a decade, as the value of euros, gold and bitcoin soared https://t.co/TlQefjkisu
Discussion: Give me your best theory -- currency, stocks, bitcoin -- which will retain the most value over the next 12 months?
Let's have a discussion. I'm worried that government's printing of helicopter money is going to devalue my savings. But I'm also worried that my ETF Index Funds portfolio will lose a lot of money once the COVID-19 death numbers climb toward 1 million within 2-3 months. So should I take my current cash savings and buy ETF Index Funds at today's market price, to avoid currency devaluation from all the fiat printing that is happening right now? Should I sell my ETF Index Funds at today's market rate, and hold in currency to avoid the upcoming market losses as a result of further quarantine business losses and real-estate market collapse? Or should I buckle-down and move everything to Bitcoin, or a combination of ETF Index Funds and Bitcoin, knowing that Bitcoin is the only stable/known throughout this turmoil? Give me your best line-of-thought on my predicament!
NEWS: Bitcoin to be rebranded as "A Currency" after "Store of Value" marketing campaign fails.
Prices slashed as Bitcoin is rebranded from digital gold to the currency of the future. "It just wasn't selling very well, " spokesman Satoshi Motoboto said speaking at an MIT conference. "Institutional investors were not buying so we're going back to our roots, to the institutionalised investor market." Commentators are even touting the possibility of Bitcoin returning to its origins as a collectors item among lonely angry men. One attendee of the conference mused about the way things used to be. "I remember the old days before everything blew up and I became a theoretical multi-billionaire. You never thought about swapping 20,000 bitcoins for a bag of pogs back then. I would not be sad to see those days again, times were simpler."
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The real value of bitcoin and crypto currency technology ...
Nesara and Bitcoin: Importance of Money, Currency and Value How is currency derived? How does Bitcoin relate to the NESARA reset? We’re going to discuss good business concepts of money and ... If money is only valuable when we believe in it, how much is a BitCoin actually worth? Jonathan explains the virtual currency as well as how to mine it and t... Many Bitcoin critics rely on the argument that Bitcoin does not fit the definition of a money, a unit of account, or that it cannot be a store of value and a currency at the same time. Watch this short video to learn about the essence of Bitcoin and the value of the blockchain in 5 minutes. Try to understand bitcoin and power of crypto currency. Donations are welcome at: 1AtFaRrPFiwm2xUYN2C41edGgKPR5AXYDh Blockchain and Bitcoin explained in five minutes: Blockchain technology will drastically change ...