Bitcoin
- Thread starter Fun For All
- Start date
"Accepting bitcoin" and "pricing in bitcoin" is two very different things. Let's say the value of Bitcoin relative to dollar decrease by 50%. Will the price of Tesla in bitcoin stay the same (so, the price of Tesla in dollars will double) or will the price in Dollars will stay the same (so, the price in Bitcoin will double). As long as it is the latter, bitcoin is nothing else but a volatile commodity that Tesla agrees to buy from you at the current market price, but it is NOT a payment for the car.Lmao Booty, that was a 4:22am post. You been drinking a bit??(not that there's anything wrong with that).
Tesla plans to accept bitcoin directly, no fiat conversion necessary.
Link: https://markets.businessinsider.com...s-cryptocurrency-as-payment-2021-3-1030239685
Third world citizens would prefer to use U.S. dollars for their transactions (as it was always the case in the past)
Yes, like human organs. There is an underground market for them and they are very valuable.The problem is, its almost impossible to ban it. Even if every country banned it, bitcoin would just go underground and become even more valuable:
U.S. Lawmakers Are Realizing They Can’t Ban Bitcoin
Implementing a Bitcoin ban may not be as easy as some cryptocurrency skeptics think.www.forbes.com
Right now its entrepreneurs and small businesses that will benefit. But that will expand. A global economy deserves a global currency system not controlled by the petro dollar or any nation. And yes there will be multiple currencies in circulation.
Just like now.
As to your question I would consider taking part of it at least. Remember the employer probably was paid in it and is also using it to purchase supplies. And yes, you can convert it to any currency as well if you choose.
Its not all or nothing. But it removes banks from the equation if the users chose to.
Announced today 4 Caribbean nations are going to create a common Blockchain currency. I think the pandemic is going to drive more people to it.
I don’t hold bitcoin to transact with it
nor do I believer than bitcoin will ever replace fiat currency as a effective and efficient form of transaction
Not as much anymore. Its getting easier to actually not use it. There are more Crypto Wallets per capita in third world nations than in the West. And more miners as well. The adoption is still in its infancy but growing.
The USA is starting to lose its power. No one will trust China. Blockchain currency will gain that trust.
Really? Try buying a house with bitcoin and tell me how that works out for you. In fact, try paying for a tank of gas with bitcoin and let me know how that goes.
I promise you, the people with fiat money and have decent amount of it will live more more comfortable then people with virtual coins.
Last edited:
I'm not sure why people have so much trouble understanding this.
But that will be completely counter to the whole "hold bitcoin because it will go up" idea.
For it to be useful as a means of transaction, it will have to stabilize.
Maybe it will do that one day.
I asked you if you would pay your employee in Bitcoin.
Someone says their services cost 0.1 Bitcoin a month and you need to hire them for 6 months of work. Do you do it?
Yes, that's called a bank. The Bahamas did it last year. China will probably be the first major economy to have one.
That the tech is going to be used to support digital fiat currency isn't surprising.
It's just verification tech.
There will be some definite advantages to having access directly to the central bank, sure.
But it is still a central bank.
Perfectly reasonable. Wish I had jumped on it as an asset back when it was cheap.
It won’t because it has a limited supply 21 mili, it is relatively slow compared to gen 3 crypto and cost money for each transaction.
For small transactions there is a need something that is fast and in big supply like a gen 3 crypto, is decentralized and protects against devaluing fiat. Just look at what happened to Venezuela. What do you think is happening like now when governments just keep printing money and everyone still working makes the same but prices of things keep going up. Nobody knows what will become the world spending crypto but one will take that role. Elon Musk hopes dogecoin becomes the crypto for spending.
Bitcoin still has a place as an investment, to protect against inflation, to be decentralized and protect against crumbling fiat. You can also send billions relatively fast for like $20 across the world in minutes. Try doing that with dollar or gold lol
Even people that invested $1,000 last year around this time would have made 9x profit. It’s crazy that people say ohh bitcoin is bullshit. What they don’t want easy money very quickly with even $100, $500 or even $1,000. The problem is they just don’t understand what’s happening yet.
Last edited:
Right now Bitcoin is the granddaddy. But there will be several blockchain currencies. The point being while the tech is being adopted by nations its also being adopted by people to avoid local fiat currency.
Look there are alot of fly by night, pump and dump, going to fail start ups right now. Probably 95% of the present ones out there. You can tell by how much they release vs hold. And the history of the creators. Right now I have 3 I believe are rock solid, and about the start a fourth. They all, except Bitcoin pay gas. And will be around for awhile with steady gains. They are my long haul, 5 year side investments.
And you can still get into Bitcoin, It's going to be a 10x rise in five years. You dont have to buy a whole one. Or even half a one. And in five years, or ten it may be a local currency in some backwater I'm visiting on my boat. Or use it to pay for another tank of boat gas. Whatever.
Its an investment opportunity that is still quite viable. You should look into it.
Add ADA Cardano, and VeChain to your list to look at.
VISA now accepts bitcoins:
torontosun.com
Visa moves to allow payment settlements using cryptocurrency
Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of…
torontosun.com
Did you read the article? It accepts USD coin pegged to US dollar.VISA now accepts bitcoins:
Visa moves to allow payment settlements using cryptocurrency
Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of…
Technically almost every global currency is pegged to the dollar, but that doesnt change the fact that VISA now accepts bitcoins: as payment
VISA now accepts bitcoins:
Visa moves to allow payment settlements using cryptocurrency
Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of…
Do you ever read for fuck sakes???
It accepting USDC. Totally different then bitcoin.
Oops, my bad. I thought I read bitcoin.
But they are now accepting one crypto which means all the other ones (like bitcoin) will probably follow.
VISA has already stated they want to work with bitcoin as well:
Visa CEO Reveals Bitcoin and Cryptocurrency Plans | Finance Magnates
Al Kelly, the CEO of Visa, said that the financial services company is planning to enable the buying of Bitcoin with Visa credentials.
Why do you think blockchain is about avoiding fiat currency? The stablecoins aren't doing that. The Bahama coin and the Eastern Caribbean ones aren't either.
"Blockchain can be useful" is a totally different discussion than Bitcoin.
Bitcoin uses a blockchain. That's it.
Interesting. What does how much they release vs hold tell you?
Can you give an example?
You buy your gas in cryptocurrency?
And again, that it is a speculative investment, an asset class, is not being argued against. Black Booty Lover thinks it is a foolish one, I don't think a massive crash is coming anytime soon.
But the fact it is an investment that can make you money has nothing to do with the idea that is an alternative to central banks or whatever.
"I think this is an investment that will go up" is not about it taking over the money system. In order for Bitcoin to take over the money system, it has to stop going up.
If you think these are things to hold as investments, why are you using them to buy gas?
Unless I decide to get a cold wallet I can just invest in it as an index.
So you think Bitcoin is going to get 10x more valuable in 5 years but you would buy a tank of gas in Bitcoin?
Or are you trying to say you think that in 10 years it will have stopped growing in value and so it would be fine to buy a tank of gas with it then?
Add ADA Cardano, and VeChain to your list to look at.
[/QUOTE]
I like that Cardano is proof-of-stake, hadn't heard about VeChain.
I like that Cardano is proof-of-stake, hadn't heard about VeChain.
[/QUOTE]
Sorry, "gas" is the name of rewards for owning some currencies. Similar to dividends or interest. And at some point you have to cash in investments. At some point I will start to cash in Bitcoin. I will have multiple income streams when I retire, this is just another one. Can't take it with you.
Cardano is solid. One of Etherium founders is doing this one.
VeChain is smaller. They have a deal with BMW now and growing. I like the fact Germans approve. They look hard into things. Decent market cap and low entry barrier. And immediate rewards.
