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What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

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What is the fate of Bitcoin?

  1. Currency of the future

    35.0%
  2. Passing Fad

    65.0%
  1. CCity Zero

    CCity Zero Member

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    That's just wild. Pretty crazy where the currency is at now.
     
  2. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
    Supporting Member

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    So many conflicting things in this post...I don't want to sound rude, but please look at what has happened in the market before you state things as if they are reality. The dollar has rallied since the election and Trump's election likely signals further strength for the dollar based on his implied policies. Secondly, people are not looking at bitcoin as similar to gold. Gold has been absolutely wrecked since the election due to the dollar strength and due to Trump's potential policy changes.
     
  3. Dei

    Dei Member

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    http://fortune.com/2016/11/09/bitcoin-trump/
     
  4. tallanvor

    tallanvor Contributing Member

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    that's false. Bitcoin has been consistently climbing at the same rate for about 2 yrs now. Trump has nothing to do with it.

    [​IMG]

    clearly no trump bump. The price of bitcoin usually has very little to do with the dollar.
     
    #1204 tallanvor, Dec 17, 2016
    Last edited: Dec 17, 2016
  5. Tha_Dude

    Tha_Dude Contributing Member

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    I think people are really stupid. The fact that this thread has generated 61 pages of **** is living proof that humanity is in a downward spiral.

    Bitcoin is an imaginary currency, it's just 1's and 0's and how many you can generate. If our society has fallen this low as to think of this as a legit way of exchange then dude has no words left.....nothing.
     
  6. Dei

    Dei Member

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    No it's not. I said it's getting a strong climb at the end of the year. I'm making no remarks about whether or not it's been rising or falling the past months/years. The election helped (or being in an election year altogether helped). Same thing happened in Brexit.
     
  7. Commodore

    Commodore Contributing Member

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    most of the currency you use only exists digitally, and what does exist as physical cash isn't backed by anything tangible

    ask yourself, what is money and what gives it value?
     
  8. tallanvor

    tallanvor Contributing Member

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    no you said trump caused a strong climb at the end of the year. there is no strong climb as you can clearly see from the price. its increasing the same as it has been for 2 years. Again the dollar really has nothing to do with the price of bitcoin. The article you posted was rubbish. 'reached new recent highs'? its been doing that everyday for well over a year.

    I think you mean 'intangible' and not imaginary. Microsoft Windows is just 1s and 0s. Is it imaginary? so is all software.
     
    #1208 tallanvor, Dec 17, 2016
    Last edited: Dec 17, 2016
  9. Tha_Dude

    Tha_Dude Contributing Member

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    All currency is an exchange of labor and the value of labor differs with each society, and we all live in a world of scarce resources and how those resources are systematically divided determines your economic system. Dude knows this well because he wasn't as stoned in his college economics courses as he was in the other stuff courses he took while occupying and exploring various administration buildings and such ****.
     
  10. PhiSlammaJamma

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    I will never buy an e-baseball card. I know that much. I am waiting to see how the Nolan's merge market Confidence with Love in their next movie.
     
  11. Dei

    Dei Member

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    It said there was a 3% spike in the price overnight, actually. It's from Fortune and the opinion's pretty popular but feel free to argue against it. However, that people are looking to Bitcoin for security just like gold seems likely. It's experienced the same spike as gold not just post election but also after Brexit. Similarly, gold's been on a climb for most of the year.
     
  12. Commodore

    Commodore Contributing Member

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  13. CometsWin

    CometsWin Breaker Breaker One Nine

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    What everyone wants to know... is GanjaRocket in jail or did he buy a pacific island with bitcoin?
     
  14. Roscoe Arbuckle

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    Actually I have a minor in Economics. America has been a Fiat currency since we went off the Gold Standard. If you've ever seen a country go into hyperinflation, their currency becomes as worthless as the paper it is printed on.

    Money all relies upon the faith in who is backing it. That's how the depression happened and why what's going on with the current FED reserve system should be quite troubling right now.

    https://fred.stlouisfed.org/series/base
     
  15. Commodore

    Commodore Contributing Member

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    What does backing it mean?
     
  16. fallenphoenix

    fallenphoenix Contributing Member

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    i wish he'd come back. it was fun pushing his buttons.

    he probably sold them all right before they rallied and went insane.
     
  17. tallanvor

    tallanvor Contributing Member

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    Before what rally?
     
  18. TheMystery008

    TheMystery008 Member

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    My investment in alt-cryptocurrency has tank while Bitcoin has been going up lately. Now I would like to see if it can reach its full potential.
     
  19. TheMystery008

    TheMystery008 Member

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    This recent rally, earlier this year Bitcoin was only $376. A few months ago it was hovering in the $500's. Last month it was only in the $700's.
     
  20. fallenphoenix

    fallenphoenix Contributing Member

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    it's almost doubled the past year...
     

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