What about Doge? I need that to drastically improve.
You need Doge like you need herpes. Stay the f#ck away from sh#tcoins.
Too late. I got in right BEFORE Elon placed it in the yard for me to step on and get all over my shoes. I need him to fix this mess.
I cant wrap my head around bitcoin. As near as I can tell, it isn’t much different from using baseball cards as money, except cards have some intrinsic value. Bitcoin doesn’t.
Can't the same thing be said about the dollar or any currency?
You’re not going to totally get it unless you study it. I can send whatever amount of Bitcoin across the world in seconds and it can be instantaneously verified by the network. No third party, no government gatekeepers, 24/7 365 days a year. Several 100 million problem own Bitcoin now. It definitely has intrinsic value to a lot of us.
I personally just buy Bitcoin. I assume there will be a lot of interest in the spot ETF, if it gets approved. There are a lot of people who want exposure, but don’t want to hassle with Coinbase or self custody.
So the price is at $26,430 for one bitcoin, down off the high of 30,000+, but more than the low of $24,900+.
The US will have a dollar based cryptocurrency within a few years. Some countries already have one based on their own currency. From what I have read (and that is not a lot) there are only so many bitcoins.
You’re correct. There are only 21 million Bitcoin.
The Bitcoin network is programmed to produce 21 million Bitcoins. Every 10 minutes miners compete to try and solve a complex math problem on what they call a block. The miner that solves the equation gets a reward. Currently, the reward is 6.25 Bitcoins. Every 4 years the network goes through a halving process (half the amount of bitcoins are produced in a day). It’s currently 900 each day and will be 450, next April.
So if the price of a Bitcoin was $25,000 when the reward was given and the owner sold them then it would be other people's money buying the Bitcoins? Doesn't that deflate the value of current Bitcoins.
I’ve studied it. Why do bitcoin users use the dollar to express its value? Why not just use dollars? Near as I can tell it’s a like using Trump’s digital trading cards without all the baggage. What holds it up are people‘s willingness to use it. You can turn anything into money that way.
Well essentially the same thing can be said about the bitcoin... it's backed by the fact that other people are willing to buy it.
The dollar is the current dominant currency is why it’s expressed in it.
I do use dollars. I own Bitcoin because it has appreciated faster than any other asset the past 14 years and I think it’s going to continue that trend. I also have lost faith in governments doing the right thing and believe in separation of states and money.
Anything can be used has money. Humans have used shells, gold, silver, beads, and etcs as currency throughout history. We currently use an excel sheet. The hardest money will end up surviving and in my opinion that will be Bitcoin. Every fiat currencies has went to zero as governments debase the currency and over time people lose faith in the currency.
Im not sure? I do know miners help secure the network and anyone who runs the network can verify transactions.
So if you wanted to cash in your Bitcoins for $$ you'd be dependent on someone else buying them? Explain the procedure for converting them to a country's currency.
Currency is a federal reserve bank note. The separation isn’t possible and a dollar value is totally dependent on the continued US existence. What does a bitcoin value depend on besides people’s feelings about it?
You’re at the whim of someone else valuing it. The larger the network gets, the less of an issue it becomes. I can currently send Bitcoin to you (if you had a private wallet) exchanges like coinbase, Venmo, other private wallets and etcs. You’re are correct that it is a risk, but so is holding dollars, stocks, and other assets.
I had been staying away from looking, but this thread made me.... $1,800 is now $249.45..... and it burns, it burns bad. I'm sure it will go up soon though.
It’s broken down into sats and you can see how much you own.
I could liquidate my Bitcoin faster than you could liquidate your IBonds. The network doesn’t take off the weekends or holidays.
oh even better yet. I had this in Voyager, who went ch 11... I can claim and get 35% of my shit out (or so it seems).... I love crypto. REminds me of my 2nd wife.
Now I am learning that Voyager was part of that scam bankman fraud BS... This just keep getting better. I love crypto I love crypto I love crypto......
cold man.... friggin cold. While pumpin crypto.. YOu wouldn't be in a jail sell with curly black hair, would you?
Me? Pumpin' crypto? You must have me confused with someone else. I don't do crypto, and certainly don't pump it.
