3 fatal flaws with digital crypto currencies in their present form.... | |
Anonymous Coward User ID: 75167138 United States 12/10/2017 12:40 PM Report Abusive Post Report Copyright Violation | converting cryptos to cash costs money, and is not easy, no matter how many ways cryptards try to explain it so if you are 'rich' in crypto but can't use it to buy much, this severely devalues a crypto's worth |
Anonymous Coward User ID: 49932992 United States 12/10/2017 12:43 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73445540 United Kingdom 12/10/2017 12:46 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73587915 France 12/10/2017 12:46 PM Report Abusive Post Report Copyright Violation | What good is a digital wallet if there's no electricity to access it? Quoting: Anonymous Coward 75955956 This is an exhausting argument used over and over again. We are all f*cked if the grid goes down. Your cash will not be good either. If it gets too bad, people won't want gold or silver either. Food, water, and shelter will be the currency. |
Anonymous Coward User ID: 75167138 United States 12/10/2017 12:47 PM Report Abusive Post Report Copyright Violation | What good is a digital wallet if there's no electricity to access it? Quoting: Anonymous Coward 75955956 One perfectly placed emp and Yes and that goes for your bank account and your data kept on a computer about the gold and silver you owned. but...my gold and silver was lost in a boating accident :) |
Anonymous Coward User ID: 73587915 France 12/10/2017 12:48 PM Report Abusive Post Report Copyright Violation | Op is spot on and did a good report to clarify this. Quoting: Anonymous Coward 75955616 If the masses stream one way,you must swim the other in this day and age. For the stream flows towards the abyss! Go against the flow to survive! And the currently needed exercise,it keeps you healthy,physically and mentally! Tell us more oh wise one... Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else... |
Anonymous Coward User ID: 73445540 United Kingdom 12/10/2017 12:49 PM Report Abusive Post Report Copyright Violation | With cryptos you can only directly 'buy' but a fraction of the 'things' you can buy with cash Quoting: Anonymous Coward 75167138 converting cryptos to cash costs money, and is not easy, no matter how many ways cryptards try to explain it so if you are 'rich' in crypto but can't use it to buy much, this severely devalues a crypto's worth Really hard yes, you get a crypto debit card you load your BTC, LTC, ETH onto it and you spend it or use a ATM for cash. |
Anonymous Coward User ID: 74717285 United States 12/10/2017 12:49 PM Report Abusive Post Report Copyright Violation | #1. The Global Elite are already moving towards block chain technology please see Ripple (xrp) who just partnered with American Express and 75 other financial institution There is also Stellar Lumens which is partnered with IBM. These currencies are not just currencies but are communication protocols that will do away with swift transactions making transactions on a global scale instantaneous. It's a game changer. The second problem with your concern is that there is no way to shut cryptocurrency down without shutting down the internet. These bankers can cry all they want but now they will suffer. Instead of charging me to store my money in the bank maybe I'll store it in something that will give me some value back. The cat's out of the bag on this. They can't stop it. #2 No guarantees When have we ever had guarantees? To me there is more guarantee with cryptocurrency as it has more to do with math and logic then the global elite playing with the money supply and using politics to get us to accept conditions that benefit them. Your concern with security is valid. That's why you don't store your wallet on a website. Get a wallet. Check out Ledger or Trezor. #3 No inherent Value? Why is a Spiderman # 1 worth whatever some collectors price guide says? It's only worth that much if someone buys it for that much. It is that simple. So this gets back to what is required for currency work. Acceptance, faith, and stability which right now the volatility is my only concern with bitcoin but I see it more as a "reserve currency" in the future. The volatility we see now are the growing pains. The only way it tanks is people stop using it. No more faith. Why would that happen? These are great times. Fuck the banksters! |
Anonymous Coward User ID: 75193661 United States 12/10/2017 12:49 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 75193661 United States 12/10/2017 12:50 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73445540 United Kingdom 12/10/2017 12:51 PM Report Abusive Post Report Copyright Violation | What good is a digital wallet if there's no electricity to access it? Quoting: Anonymous Coward 75955956 One perfectly placed emp and Yes and that goes for your bank account and your data kept on a computer about the gold and silver you owned. but...my gold and silver was lost in a boating accident :) Indeed it was! hehe |
NRVNAFAN
User ID: 75457070 United States 12/10/2017 12:52 PM Report Abusive Post Report Copyright Violation | Good post. Quoting: DARTH SILIOUS For me it is the complete lack of security of cryptocurrencies. Just yesterday some $70M was stolen and good luck figuring out who it was or ever getting anything back. Cryptocurrencies might well be the wave of the future but in the current form I just don't see it. Wild Speculation= the wild west. Crypto Fever is the new Gold Fever....Thar's Gold in dem der hills! At least with Gold, you actually have something of value I personally have no use for gold at all. It used to be good for making jewelry to make a woman happy but these days i dont even need a woman. Last Edited by messagehalted on 12/10/2017 12:54 PM All my post are theatrical artistic writing . |
Anonymous Coward User ID: 75756784 Canada 12/10/2017 12:52 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 75869834 Brazil 12/10/2017 12:56 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 75167138 United States 12/10/2017 12:57 PM Report Abusive Post Report Copyright Violation | With cryptos you can only directly 'buy' but a fraction of the 'things' you can buy with cash Quoting: Anonymous Coward 75167138 converting cryptos to cash costs money, and is not easy, no matter how many ways cryptards try to explain it so if you are 'rich' in crypto but can't use it to buy much, this severely devalues a crypto's worth Really hard yes, you get a crypto debit card you load your BTC, LTC, ETH onto it and you spend it or use a ATM for cash. Card price $15.00 Domestic ATM Transaction $2.50 (after finding an ATM that accepts it) Monthly service fee $1.00 Loading fee 1% Third-party loading fee 1.99% Single ATM transaction limit $200 / $1000 Unverified / Verified Max single top-up value $1000 / $10000 Unverified / Verified Max lifetime load $1000 / Unlimited Unverified / Verified Max lifetime unload $1000 / Unlimited Unverified / Verified ATM transactions per day 2 / 5 Unverified / Verified |
ThePaleOne
traded his horse for a white van User ID: 75562434 Austria 12/10/2017 12:58 PM Report Abusive Post Report Copyright Violation | Op is spot on and did a good report to clarify this. Quoting: Anonymous Coward 75955616 If the masses stream one way,you must swim the other in this day and age. For the stream flows towards the abyss! Go against the flow to survive! And the currently needed exercise,it keeps you healthy,physically and mentally! Tell us more oh wise one... Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else... From experience .. the spam pro-BTC is pretty much the same as we had during the crash of the New Economy, the busting of the housing bubble or the great Pacific crisis when Japan that was threatening to take over the world .. broke. So .. nothing new, another time "get rich quick" schemes are sold to the masses except this time the media transporting the schemes is not newspapers and TV but the internet. I bet the same losers (that I know) that fell for the scams above are already invested in or considering investing into BTC. In my view there is only one asset class today not completely overbought ... PMs, which is exactly where my annual bonus will go this year. Life is a 100% deadly sexually transmitted disease. Life is to short to be a slave, leave the plantation, go: [link to www.goingyourownway.com] |
FeraNenem
User ID: 75963112 Brazil 12/10/2017 01:00 PM Report Abusive Post Report Copyright Violation | #3 No Inherent Value Surely you have no idea what you are talking about and what blockchain is. If you think blockchain only serves to send and receive coins, then you have not even scratched the surface. Gloria Fortis Miles Adversor et Admorsus |
Anonymous Coward User ID: 75167138 United States 12/10/2017 01:02 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 63492018 United States 12/10/2017 01:03 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73587915 France 12/10/2017 01:03 PM Report Abusive Post Report Copyright Violation | Op is spot on and did a good report to clarify this. Quoting: Anonymous Coward 75955616 If the masses stream one way,you must swim the other in this day and age. For the stream flows towards the abyss! Go against the flow to survive! And the currently needed exercise,it keeps you healthy,physically and mentally! Tell us more oh wise one... Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else... From experience .. the spam pro-BTC is pretty much the same as we had during the crash of the New Economy, the busting of the housing bubble or the great Pacific crisis when Japan that was threatening to take over the world .. broke. So .. nothing new, another time "get rich quick" schemes are sold to the masses except this time the media transporting the schemes is not newspapers and TV but the internet. I bet the same losers (that I know) that fell for the scams above are already invested in or considering investing into BTC. In my view there is only one asset class today not completely overbought ... PMs, which is exactly where my annual bonus will go this year. Sound money on a worldwide distributed trustless ledger is not a scam. A deflationary currency is not a scam. In fact, it's the opposite and encourages saving. Kind of like what you do with your PMs. Do people think or read anymore?!?! |
Anonymous Coward User ID: 73587915 France 12/10/2017 01:06 PM Report Abusive Post Report Copyright Violation | But but but....tulips and beanie babies! You dolts make my head hurt. I don't get why anyone would be against BTC usurping the control of the financial elite? We talk a lot on this forum about how bad they are and how they control everything there is to control. Now BTC comes along and throws a wrench into their power structure, and the same people that complain about those elite now fight for them? Thank God my kids go to private school. Obviously our education system is failing people on massively depressing scale... |
Duncan the destroyer
User ID: 75908809 United States 12/10/2017 01:07 PM Report Abusive Post Report Copyright Violation | Op is spot on and did a good report to clarify this. Quoting: Anonymous Coward 75955616 If the masses stream one way,you must swim the other in this day and age. For the stream flows towards the abyss! Go against the flow to survive! And the currently needed exercise,it keeps you healthy,physically and mentally! Tell us more oh wise one... Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else... How are you fleeing when everything you do with crypto leaves a electronic footprint? How will anyone be able to deal on the side/barter when it's all electronic,if anything this crypto basically ends all freedom to hide,barter,work undetected. You're just buying in to make a quick $$ and haven't thought this through long term. Duncan the destroyer |
Anonymous Coward User ID: 73587915 France 12/10/2017 01:10 PM Report Abusive Post Report Copyright Violation | Op is spot on and did a good report to clarify this. Quoting: Anonymous Coward 75955616 If the masses stream one way,you must swim the other in this day and age. For the stream flows towards the abyss! Go against the flow to survive! And the currently needed exercise,it keeps you healthy,physically and mentally! Tell us more oh wise one... Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else... How are you fleeing when everything you do with crypto leaves a electronic footprint? How will anyone be able to deal on the side/barter when it's all electronic,if anything this crypto basically ends all freedom to hide,barter,work undetected. You're just buying in to make a quick $$ and haven't thought this through long term. Says the guy leaving an electronic footprint... |
Anonymous Coward User ID: 75966557 Spain 12/10/2017 01:12 PM Report Abusive Post Report Copyright Violation | |
Duncan the destroyer
User ID: 75908809 United States 12/10/2017 01:13 PM Report Abusive Post Report Copyright Violation | But but but....tulips and beanie babies! You dolts make my head hurt. I don't get why anyone would be against BTC usurping the control of the financial elite? We talk a lot on this forum about how bad they are and how they control everything there is to control. Now BTC comes along and throws a wrench into their power structure, and the same people that complain about those elite now fight for them? Thank God my kids go to private school. Obviously our education system is failing people on massively depressing scale... Crypto hasn't thrown a monkey wrench in shit other than creating this get rich quick atmosphere which will end once the government regulates it should the masses start abandoning the dollar. You're living in a fantasy world(probably your parents basement) if you think this country can still operate if no one uses dollars,believe me you are going to pay one way or the other to keep the wheels spinning. Duncan the destroyer |
FeraNenem
User ID: 75963112 Brazil 12/10/2017 01:14 PM Report Abusive Post Report Copyright Violation | The reason the value of bitcoin is worth so much is not in the bitcoin itself, but in the technology behind the bitcoin that is called blockchain. Blockchain is basically the internet 2.0 Now go do your research on what the blockchain is because I will not be spoon feeding you. That's the basics that a person should know before talking about it. Now the question "Is bitcoin in a bubble?" The answer is: Yes, it is possible that it is in a bubble simply because of the amount of people who are buying without even knowing what the blockchain is. Gloria Fortis Miles Adversor et Admorsus |
Anonymous Coward User ID: 73841345 United States 12/10/2017 01:14 PM Report Abusive Post Report Copyright Violation | |
Affable Serpent
User ID: 75491524 United States 12/10/2017 01:14 PM Report Abusive Post Report Copyright Violation | Good post. Quoting: DARTH SILIOUS For me it is the complete lack of security of cryptocurrencies. Just yesterday some $70M was stolen and good luck figuring out who it was or ever getting anything back. Cryptocurrencies might well be the wave of the future but in the current form I just don't see it. Wild Speculation= the wild west. Crypto Fever is the new Gold Fever....Thar's Gold in dem der hills! At least with Gold, you actually have something of value I personally have no use for gold at all. It used to be good for making jewelry to make a woman happy but these days i dont even need a woman. So, you're a fag? - Do you really think you're free? - Anything that requires a license, permit, or a tax makes you a serf/vassal to the entity that requires it of you. |
FeraNenem
User ID: 75963112 Brazil 12/10/2017 01:15 PM Report Abusive Post Report Copyright Violation | I'll try to explain in a very simple way the reason why bitcoin is worth so much. Quoting: FeraNenem The reason the value of bitcoin is worth so much is not in the bitcoin itself, but in the technology behind the bitcoin that is called blockchain. Blockchain is basically the internet 2.0 Now go do your research on what the blockchain is because I will not be spoon feeding you. That's the basics that a person should know before talking about it. Now the question "Is bitcoin in a bubble?" The answer is: Yes, it is possible that it is in a bubble simply because of the amount of people who are buying without even knowing what the blockchain is. This is not to say that bitcoin is not worth what it is worth now or more. Gloria Fortis Miles Adversor et Admorsus |
Duncan the destroyer
User ID: 75908809 United States 12/10/2017 01:15 PM Report Abusive Post Report Copyright Violation | Op is spot on and did a good report to clarify this. Quoting: Anonymous Coward 75955616 If the masses stream one way,you must swim the other in this day and age. For the stream flows towards the abyss! Go against the flow to survive! And the currently needed exercise,it keeps you healthy,physically and mentally! Tell us more oh wise one... Less than 1% of the world's population is currently using crypto currencies. We are the ones fleeing the abyss, but keep telling yourself you're smarter than everyone else... How are you fleeing when everything you do with crypto leaves a electronic footprint? How will anyone be able to deal on the side/barter when it's all electronic,if anything this crypto basically ends all freedom to hide,barter,work undetected. You're just buying in to make a quick $$ and haven't thought this through long term. Says the guy leaving an electronic footprint... Oh,so you figured a way around all the checks and will live life "off the grid" stop the crap,you're living in a fantasy world where you make your own reality,have fun playing with yourself. Duncan the destroyer |