They can be transported more easily.
What are your thoughts on BitCoin?
- Thread starter aimeeandbeatles
- Start date
They can be transported more easily.
Crezth
i knew you were a real man of the left
I don't know about tranches but I'm not sure what they have to do with the block chain.
It took a 200 hit when Chinese goverment issued a statement aganist using bitcoin.
It took another 200 when baidou stopped accepting them the next day. But since then it gone up.
Symphony D.
Deity
I've thought about investing in bitcoin but it shows the classic signs of a bubble: currency with no inherent value, where people are investing in hopes that their investments will rise in value. The first part can be said about gold too, but the second not so much. I personally consider bitcoins to be too risky for me to invest in them.
People who invest in currencies don't hope their investments will rise in value?
Any currency holding is an investment.
A pretty poor one at that - over the past couple decades USD cash would give you a 0% nominal return vs. say, the S&P 500 with dividends reinvested which would give you a 450%+ return.
Azurian
The Azurian
Where do you guys see Bitcoin in 5 years? I think its going to be mainstream but heavily regulated with your hash having to be registered with government, (with your name, address, date of birth etc.) or money exchanges if you want to convert it to physical currency.
ParkCungHee
Deity
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Nostalgia market.
Unlike real currencies, bitcoins are only used for speculative trading, tax evasion and drug trade, and I'd like to think that the last two are pretty small time. As is, aside from the aforementioned drug trade, you can't really buy anything with bitcoins. The value of bitcoins is based on nothing but the overinflated buzz surrounding them, which is I believe will die down sooner or later.
I'm not an expert on the technology behind bitcoins. But in a couple decades, computers will be so much faster than they are now, that many current encryptions become worthless. What happens to bitcoins then?
What makes a real currency?
No, they're used to transfer wealth and buy stuff like cars.
Here's a list of legal things you can buy with bitcoins: https://en.bitcoin.it/wiki/Trade
It's is a good question, what do we expect to happen to bitcoin supply as processing power increases?
I was thinking this as well. In particular, would the advent of quantum computing break bitcoins?
Crezth
i knew you were a real man of the left
This is all true if you feel like waiting 5+ minutes for transactions to complete and don't mind the fact that the value of your bitcoins could shift wildly in either direction during the transaction.
Archbob
Ancient CFC Guardian
That funny, because I can't find a car dealership or grocery store around here that actually accepts them.
Crezth
i knew you were a real man of the left
Archbob
Ancient CFC Guardian
nyah Strawman.
Not really a strawman, for BitCoin to be useful, it has to be accepted as these places.
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