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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. RunninRaven

    RunninRaven Contributing Member
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    So forgive my slowness. This is a credit card that you have to pay off in a cryptocurrency called CRO? And the rewards you get back are in CRO? Or is it just like any credit card and can be paid off in US Dollars but the rewards are all supplied as CRO? That link seems to assume I understand something basic about this card that I apparently don't.
     
  2. Space Ghost

    Space Ghost Contributing Member

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    Crypto.com offers a few services. They are an exchange. They also do DeFi lending. They also offer crypto settlements, allowing you to pay vendors in crypto. In addition they offer credit cards.

    You would pay your credit cards off in USD (or in crypto if you wish) and your 'cash back' would come in the form of the CRO token. You can hold on to it and hope it goes up or you can immediately convert it into USD or other cryptos. The more you stake (like paying $475 to AMEX ... except you can get it back and its not a subscription, a one time stake). If you want to go balls deep, you can commit almost $400,000 for 8% cash back.
     
    LosPollosHermanos likes this.
  3. The Real Shady

    The Real Shady Contributing Member

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  4. Dr of Dunk

    Dr of Dunk Clutch Crew

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    GM just said they're keeping an eye on it, but don't have plans to do so. Jack Dorsey (Twitter CEO) set up his own bitcoin node not too long ago and his other company, Square already dumped money into BTC. Twitter's CTO also said they're thinking about buying some. One trillion bajillion dollerz incoming!
     
  5. Dr of Dunk

    Dr of Dunk Clutch Crew

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    When I saw MCO, it dawned on me that this is just the old Monaco platform (I think). They've had a debit card for a while from what I recall. They must've renamed themselves or been bought out (?) Not sure.
     
  6. Xerobull

    Xerobull You son of a b!tch! I'm in!

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    Get your BTC ready



     
    #4726 Xerobull, Feb 10, 2021
    Last edited: Feb 10, 2021
    lost_elephant likes this.
  7. Dr of Dunk

    Dr of Dunk Clutch Crew

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    Charles Hoskinson... one of the original co-founders of Ethereum and the founder of Cardano... all-around swell guy. :D But let's face it... this is all just guesswork for now. I'll be more than happy to have more companies buy it and drive my meager BTC up.
     
    Yung-T, Zen Tabak and lost_elephant like this.
  8. Commodore

    Commodore Contributing Member

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  9. Space Ghost

    Space Ghost Contributing Member

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    A lot of these projects started on great ideas but were overly ambitious. While the ICO craze was nuts, some of these projects were able to pivot. If I understand it correctly, MCO is the derivative chain. They launched the CRO coin for the asset side, which includes getting into the lending market with VISA. Its a pretty crafty way to flow USD into their project and create volatility for the CRO token ... considering tons of people would happily take rewards in crypto, even if they are flipping it to BTC, ETH or some shitcoin. And with airline miles being worthless these days, people are looking for alternatives.
     
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  10. Two Sandwiches

    Two Sandwiches Contributing Member

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    I should have. Kudos to you!
     
  11. Xerobull

    Xerobull You son of a b!tch! I'm in!

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  12. Xerobull

    Xerobull You son of a b!tch! I'm in!

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  13. Commodore

    Commodore Contributing Member

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    sad that this thread has devolved into a place for people to pump and dump their shitcoins
     
  14. KingCheetah

    KingCheetah Contributing Member

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    Thread title is Bitcoin not crypto garbage.
     
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  15. Space Ghost

    Space Ghost Contributing Member

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    Every coin, including Bitcoin, was a shitcoin at one point.
     
    LosPollosHermanos and Xenon like this.
  16. TimDuncanDonaut

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    Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests.

    "Mining" for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions. Cambridge researchers say it consumes around 121.36 terawatt-hours (TWh) a year - and is unlikely to fall unless the value of the currency slumps.

    Critics say electric-car firm Tesla's decision to invest heavily in Bitcoin undermines its environmental image.

    The currency's value hit a record $48,000 (£34,820) this week. following Tesla's announcement that it had bought about $1.5bn bitcoin and planned to accept it as payment in future.

    But the rising price offers even more incentive to Bitcoin miners to run more and more machines.


    And as the price increases, so does the energy consumption, according to Michel Rauchs, researcher at The Cambridge Centre for Alternative Finance, who co-created the online tool that generates these estimates.

    “It is really by design that Bitcoin consumes that much electricity,” Mr Rauchs told BBC’s Tech Tent podcast. “This is not something that will change in the future unless the Bitcoin price is going to significantly go down."

    [​IMG]

    “Bitcoin is literally anti-efficient,” David Gerard, author of Attack of the 50 Foot Blockchain, explained. “So more efficient mining hardware won't help - it'll just be competing against other efficient mining hardware.

    This means that Bitcoin's energy use, and hence its CO2 production, only spirals outwards.

    article
     
  17. Ziggy

    Ziggy QUEEN ANON

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    Don't forget to buy DOGE toDAY (not toNIGHT) - and reap the benefits when celebrities Tweet about it this weekend. Just make sure to sell by Sunday.
     
  18. DOMINATOR

    DOMINATOR Member

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    whats there to say about bitcoin besides 'wow look at the price'
     
  19. LosPollosHermanos

    LosPollosHermanos Houston only fan
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    True and one of these other ones like link will be a major player. But there have been too many **** coins in discussion
     
  20. Space Ghost

    Space Ghost Contributing Member

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    Bitcoin is very revolutionary. Bitcoin maximalist claim to be far sighted, but looking at the fundamentals, maximalist tend to be very short sighted. Bitcoin is digital gold. The average person, or even large institutions do not trade in gold. Its too expensive, just as Bitcoin. As the Bitcoin maximalist say, 1 Bitcoin will be worth 1 Bitcoin which is true. However the value will eventually taper off and stop growing when global currencies all start pegging its value to Bitcoin.
    Dont get me started on those who whine about the carbon emissions. Its estimate 40% of mining is from renewables. Eventually the heat generated from these machines will be used to generate further resources. Solar farms are using excess power to mine bitcoin, and in turn further expanding their solar farms.
     

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