Bitcoin explained

Discussion in 'Digital Currencies' started by goldpelican, Mar 23, 2018.

  1. goldpelican

    goldpelican Administrator Staff Member

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    ...in language we all understand :)

     
    harry_mr, Jislizard, leo25 and 12 others like this.
  2. malachii

    malachii Well-Known Member

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    That's gold!

    malachii
     
  3. goldpelican

    goldpelican Administrator Staff Member

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    Pretty sure that's a Perth Mint silver bar at the end.
     
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  4. Jim4silver

    Jim4silver Well-Known Member

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    Bitcoin is a fantastic speculative asset. With such violent price swings, it can make day traders and short term bettors lots of cash. Too bad it can never be a useful currency, at least not in its current form, due to its highly volatile price swings.

    If the dollar's value acted like bitcoin currently does:

    Hey, how much is that car today? It will cost you $20,000. The next day, how much is that car today? It will cost you $25,000. A week later, how much will the car cost? $15,000........ Bitcoin swings more than Venezuelan currency.

    I am sure the technology behind bitcoin will be with us for a long time in some way, but they will have to figure out how to eliminate the price volatility before it would be acceptable to those who don't like to lose 50% or more of their "value" in a month's time.

    Just look at the chart since Dec 2017... Name any currency anywhere in the world that could properly serve its monetary function with such price moves.

    https://charts.bitcoin.com/chart/price
     
    Last edited: Mar 24, 2018
  5. Peter

    Peter Well-Known Member

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    What a joke Bitcoin is.
    Wastes a vast amount of computer time and energy doing nothing useful.
    In 100 years,w hen we have computers the size of continents,and have harnessed the entire Power of the sun,the technology may have practical application.
     
    Last edited: Mar 24, 2018
  6. Gullintanni

    Gullintanni Well-Known Member

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    That was hilarious!!!!!!!!!!!!!!!!!!!!!!!!
     
  7. JOHNLGALT

    JOHNLGALT Well-Known Member

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    This guy didn't HODL his $#!TC@!N, he bought a LAMBO.
    If it was me, I would have bought a red one. _JLG.
    HODL.JPG
     
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  8. l***g

    l***g Well-Known Member Silver Stacker

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    Spotto
     
  9. JOHNLGALT

    JOHNLGALT Well-Known Member

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    Damn, if you aren't right goldpelican. I zoomed in and sure enough it was a 1 kg. P.M. bar, lol _JLG.
    Perth Mint 1 Kilobar.jpg
     

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