Bitcoin

Out of context: Reply #968

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  • Krassy2

    I like what Bitcoin is designed to become, but the current hype seems to be a gamble get-rich-quick phase. People are jumping on it not to support the original concept and help turn it into a decentralized currency, but instead to invest in hopes to make profit off it.

    Krassy 2Permalink
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    • Sure!ArmandoEstrada
    • @ArmandoEstrada ha! my comment was not directed to you. I wrote it before scrolling up and seeing your post 2 up. Haha!Krassy
    • ha!ArmandoEstrada
    • What if the way a decentralized currency (Bitcoin or otherwise) becomes widely adopted is through a get rich quick hype?yuekit
    • I think it might have to be. The more people that adopt it the better (for the decentralised currency better future, not so much for investors)
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    • So I don't see a problem
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    • Nothing wrong with investing and turning a profit as in similar with real estate or stocks, etc. But bitcoin is supposed to be a currency, and not an investmentKrassy
    • You don't buy a sandwich, concert tickets, TVs, etc. with gold or stocks assets.Krassy
    • That's where I see the issue with Bitcoin becoming more of an asset and less of a currency (like it was initially designed to be)Krassy
    • It came to light as an illegal secret currency used years ago for purchasing drugs, guns, etc. on the Dark Web.Krassy
    • The promise was that from there it could become a decentralized currency to be used for purchasing anything ...Krassy
    • ...and eventually replace traditional government regulated currency such as the dollar and credit cards, etc.Krassy
    • But what it has become currently, is a treasure chest full of gold buried somewhere in hopes it can be cashed one day. Investment. Not currency.Krassy
    • I agree, Krassy.monospaced
    • Sorry for the long monologue. This Colombian coffee just kicked in. LOL! Time to listen to some techno!Krassy
    • lol
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    • The thing is that Bitcoin by its nature was always going to increase in value the more people owned it. So the bubble aspect is an almost inevitable byproductyuekit
    • of it being widely adopted. Whether that ruins it as a currency over the long run remains to be seen.yuekit
    • Could ruin it or make it... That's where the wonder is...
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