Bitcoin

Out of context: Reply #1696

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  • ESKEMA-2

    @NBQ

    the value of Bitcoin is Store of Value (SoV), replacing the dollar (or any fiat currency) in the global world economy. Its value will continue to appreciate because of this as more and more people convert into it and . You can store value and no one can take it from you by force. This is huge and most people don't realise it.

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    • Replacing dollar or any fiat currency? Yet almost nobody is using it as replacement for money. People who make profits move it back into fiat currency (banks)NBQ00
    • And almost nobody (I know I‘m exaggerating) is even buying anything with it.NBQ00
    • And how can it ever replace money or gold when it relies on the internet and electricity. If both are down how would you buy anything?NBQ00
    • They are using it as a replacement for storing money not a replacement for Paypal. Like gold, people use it to store value, not to pay coffee.ESKEMA
    • for starters, everything is digital and relies on the internet. How do you use your credit card without electricity or internet? Lots of countries alreadyESKEMA
    • ditching cash, so that happens with or without bitcoinESKEMA
    • https://decrypt.co/2…drgs
    • the global economy is dependant of the US dollar, and the US is not playing nice, debasing it's value by printing infinite money. How do you think the worldESKEMA
    • feels about that?ESKEMA
    • if / when Quantum arrives, bitcoin will not be its target. More profitable to hack the NYSE or Pentagon for example. 400bn vs 100s of trillionsESKEMA
    • and the encryption can be changed to be quantum resistant...ESKEMA
    • So it could be used to hide assets in the case of a total collapse of the monetary system?yuekit
    • There's got to be a better use case than that right? :)yuekit
    • its not to hide assets after a monetary collapse, its to change the foundation of the monetary system to a better alternative that empowers individualsESKEMA
    • instead of an elite closer to the printing machineESKEMA
    • I agree that could be a very good thing. I think the problem so far is that there isn't any immediate advantage to a decentralized system of money foryuekit
    • most people. Centralized system tends to be more convenient and reliable.yuekit
    • Decentralized could change the world in the long run, but most people don't think in those terms. They just want to buy some shit, or store their savingsyuekit
    • in a bank where it's guaranteed by the government.yuekit
    • the immediate advantage is on Africa or South America where corruption is very high.ESKEMA
    • In developed countries, it's immediate advantage is being the best savings account.ESKEMA
    • If you used it as a saving account starting a couple years ago when the first boom happened, you might have gained some money, then seen your savings destroyed.yuekit
    • Then wait a couple years and you're back to where you were in early 2018. Maybe it'll continue to go up after this but that's pretty nerve wracking for mostyuekit
    • people right? :) They probably would have lost their nerve and sold at some point.yuekit
    • cherry picking the worst time possible to make your point, but yes, short term it's a wild rollercoaster, long term, it's the asset of the decade...ESKEMA
    • Yeah I made some money off it almost by accident since I was using to buy stuff online around the time this thread started and then just forgot about my accountyuekit
    • I wonder what happened to this guy lol
      https://www.qbn.com/…      yuekit
    • Dude. Tons of people had their bitcoins hacked and/or lost. Derpmonospaced
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