Brendan i have on more than one occassion presented to you why anything including Bitcoin has value.If you are planning your finances seriously, you should do so based on analysis not hunches, magical thinking, or anecdotes from your wife.
Bitcoin is a bag of hot air, fairy dust, whatever.
You have been told this on numerous occasions, yet not one of the faithful has yet come up with any basis for a valuation above zero.
No one has explained why its price went from $1,000 to $20,000 in a year.
There is no basis for it to have any value above zero. So you can only rely on magical thinking supported by your wife's anecdotes and, now, the demise of Facebook. Discussing it with you is like talking to flat earthers. They are fully convinced that the round earth theory is a conspiracy and they have all the stories and arguments to support them.
Check out how reasonable this guy sounds: https://www.youtube.com/watch?v=pYcnLj8suLw
Brendan
But that is exactly the point. How can Bitcoin ever be a currency if you don't know if it will be worth zero or $100,000. That's not a small range. Never mind the technology but until you can stop the speculating and the noise and the hype around it, it will never be used as a currency because it is.
As for the future and how we transact with each other being different, well that is hardly a big call. There are already numerous non-traditional banking ways of transferring money and paying for things with almost zero transaction fees. This is very different to the vision that people have of Bitcoin replacing the world's currencies or of blockchain technology changing the world.
If you are planning your finances seriously, you should do so based on analysis not hunches, magical thinking, or anecdotes from your wife.
Whether punters move their digital funds from their local bank, into a Central Bank or just into to a larger commerical bank, the net result remains the same.That's not what they are saying. Tell me one central bank that takes deposits from individuals or 'punters'?
What analysis did you use to choose the stop-loss limit that you did
If you want to argue that Bitcoin is worth €x, you have to show some analysis to support that value
Why would anyone back them? There is no guarantee that any profit will ever be made from these projects.
Are they worthless?
People invest in them because they think that they will get a return on their money.
How many times has it to be emphasised that there is a complete disconnect between blockchain technology and the bitcoin it transfers. These Central Bank mutterings are about using blockchain to speed up international transfers of securities. They are not about issuing a new currency. Transactions will still be in Fiat. In fact if it was a new currency sponsored by Central Banks that would be anathema to the disciples of Shortie Syndrome.There are other articles in the recent past that have mentioned Central Banks issuing digital currency that could result in Central Banks also holding deposits and basically taking over some of the roles of commercial banks handle today.
Cut out the middle-men if they aren't doing anything useful.
So to repeat earlier comments, if the Fed do enable blockchain transfers of $ it will have no impact whatsoever on the value of the $.
If the central bank allowed transfers from bank accounts to the digital currency, it would have to cap the amount a single individual could hold in the digital currency, perhaps at the level of the median monthly salary. In the absolute extreme, the central bank could also determine what goods the helicopter money could be spent on.
When has banking been disturbed in how they do things? If nothing else, can those either opposed to cryptocurrency or who don't have any belief in it understand that at a basic level, if it can light a fire under them and get them to offer an improved value proposition to consumers that in itself is a win? Of course, I believe it can achieve a lot more but we will have to see how it plays out.Bitcoin has got them thinking, imagining, and inventing the future.
My immediate concern right now is the Tether issue. Can't justify holding any crypto until that is truly outed and dealt with...which could be some time.in looks long term bullish from where i'm sitting.
I decided in the interests of my crypto education to Google "Tether". What an eye opener. My read, but correct me where wrong, is as follows.My immediate concern right now is the Tether issue. Can't justify holding any crypto until that is truly outed and dealt with...which could be some time.
It's ironic but if what we think is at play with Bitfinex/Tether, it's completely averse to what bitcoin is all about.
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