Bitcoin
- Thread starter Ron Resnick
- Start date
+1 - I found that hilariously cynical yet simultaneously touchingly naive.
Found clearer answers to my Bitcoin questions in this article : https://arstechnica.com/tech-policy/2017/12/bitcoin-a-beginners-guide/
Maybe an enlightened fellow like yourself could help me with an explanation of my naivete. It would be greatly appreciated.
No explanation required - it was the simple observation of your use of the word 'safe' that gives away your naivete. If you'd provide a reasoned justification for your use of that word, I'll withdraw my remark.
Well thanks for providing the explanation that you indicate wasn't required. Mine was, of course, a relative analysis regarding safety. If you can't' see the difference, I am not sure I can help you understand the relative safety of fiat currencies from major developed sovereigns (like the USD, GBP, Yen, or Euro) versus bitcoin. Somethings are self evident, even to the naive.
If you have reasoned arguments that Bitcoin is less safe than any (or all) sovereign fiat currency, I'm all ears.
Well as I said it is self evident. So much so I am not sure your question is even serious. You can start by something as simplistic as my Post #140 or take a census of established commercial enterprises that accept bitcoin in exchange for property. The most compelling arguement, however, would be your own judgement. To be clear, are you saying if you were required by statute to deposit 100% of your net worth in either Bitcoin or the USD for the next five years you would choose Bitcoin? Maybe answer that question as the starting point of the analysis.
The banks they ought to be safer, right?
• https://www.consumerreports.org/cryptocurrency/how-safe-is-bitcoin-really/
• https://www.ndtv.com/business/bitco...-quotes-to-help-you-solve-the-mystery-1791637
Say sometime in 2018 bitcoin hit $72,000 ... how much $72,000 is worth after it gets hacked and stolen?
How safe is bitcoin, really, like in real life safe? Who in their right scientific analysis can answer that?
• https://www.consumerreports.org/cryptocurrency/how-safe-is-bitcoin-really/
• https://www.ndtv.com/business/bitco...-quotes-to-help-you-solve-the-mystery-1791637
Say sometime in 2018 bitcoin hit $72,000 ... how much $72,000 is worth after it gets hacked and stolen?
How safe is bitcoin, really, like in real life safe? Who in their right scientific analysis can answer that?
QED - your naivety is self-evident.
I don't see I've asked a question. I've made a request, no sweat if you have nothing to offer.
No, very definitely not. But that's an entirely hypothetical situation you've chosen to suit your own position. Why choose a term of 5 years? Looks arbitrary to me.
Naivety again, writ large.
That's what's called 'consensus reality' - that banks ought to be safer.
To analyze this we'd first need a definition of 'safe'. I doubt there'd be any agreement on what it means though.
I think in a increasingly digital world , we need a digital currency , sounds good to me bitcoin , plus i hope it takes some of the power away from governments .
Only because I love them twin brothers:
Winkelvoss twins vindicated in bitcoin’s steep rise
"They said they might look at selling when the value of all the bitcoin in circulation approaches the value of all gold in the world — some $7 trillion or $8 trillion compared with the $310 billion value of all bitcoin on Tuesday — given that they think bitcoin is set to replace gold as a rare commodity. But then Tyler Winklevoss questioned even that, pointing out the ways that he believes bitcoin is better than gold."
“In a funny way, I’m not sure we’d even sell there,” he said. “Bitcoin is more than gold — it’s a programmable store of money. It may continue to innovate.”
Them twins have ambition, big as the sky above the stars...
They want to become the first trillionaire twins on the surface of this globe.
I wish them all the best in the new year, 2018...and beyond.
Happy New Year...Prosperity, Health, Wealth and Wisdom.
Winkelvoss twins vindicated in bitcoin’s steep rise
"They said they might look at selling when the value of all the bitcoin in circulation approaches the value of all gold in the world — some $7 trillion or $8 trillion compared with the $310 billion value of all bitcoin on Tuesday — given that they think bitcoin is set to replace gold as a rare commodity. But then Tyler Winklevoss questioned even that, pointing out the ways that he believes bitcoin is better than gold."
“In a funny way, I’m not sure we’d even sell there,” he said. “Bitcoin is more than gold — it’s a programmable store of money. It may continue to innovate.”
Them twins have ambition, big as the sky above the stars...
They want to become the first trillionaire twins on the surface of this globe.
I wish them all the best in the new year, 2018...and beyond.
Happy New Year...Prosperity, Health, Wealth and Wisdom.
"They said they might look at selling when the value of all the bitcoin in circulation approaches the value of all gold in the world — some $7 trillion or $8 trillion compared with the $310 billion value of all bitcoin on Tuesday — given that they think bitcoin is set to replace gold as a rare commodity. But then Tyler Winklevoss questioned even that, pointing out the ways that he believes bitcoin is better than gold."
Flawed thinking. You can apply this logic to the total market cap of all cryptos, but when the smoke has cleared, the question is, how much of the cryto portfolio has been allocated to bitcoin. If superior digital currencies come along, it is very conceivable the while the asset class is worth trillions at some point, bitcoin represents zero percent of that value.
Flawed thinking. You can apply this logic to the total market cap of all cryptos, but when the smoke has cleared, the question is, how much of the cryto portfolio has been allocated to bitcoin. If superior digital currencies come along, it is very conceivable the while the asset class is worth trillions at some point, bitcoin represents zero percent of that value.
Not necessarily. Bitcoin share on total market cap of all crytos has dropped from over 80% to just over 30% in less than a year. Alt coins are far outgrowing bitcoin, and it could go to zero being taken over by others.
https://coinmarketcap.com/charts/#dominance-percentage
You're excluding too many factors. You're looking at just through the lens of value to the dollar.
Alt coins are popular to trade with, but maybe you should look at what is minable. If it isn't minable or POS, it'll never ever be able to take over what Bitcoin does for value storing.
Alt coins are popular to trade with, but maybe you should look at what is minable. If it isn't minable or POS, it'll never ever be able to take over what Bitcoin does for value storing.
Elevator down boys...down around 40% from the top. Hit 10,000 this afternoon. Long way to go.
I do recall suggesting sell crypto into year-end or at least trim positions.
I do recall suggesting sell crypto into year-end or at least trim positions.
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