Crypto Currency Thread
Discussion
skinnyman said:
So how high do we think Cardano will climb? Hit £1 recently. I've got 6000 coins I've held since 2017. I've been meaning to exchange some for Eth, but it just seems to keep climbing up
I also have a similar amount. I'm staking it at the moment which is pretty easy and gets 5% APY, Will probably sell a chunk at around £2,50
To all those that keep blathering on about BTC fees. One of the largest BTC transactions in history a couple of days ago, reportedly by Binance, for $4.5bn. Cost? $21.47. 
https://dailyhodl.com/2021/03/01/whale-alert-45000...
https://dailyhodl.com/2021/03/01/whale-alert-45000...
PH4555 said:
To all those that keep blathering on about BTC fees. One of the largest BTC transactions in history a couple of days ago, reportedly by Binance, for $4.5bn. Cost? $21.47.
https://dailyhodl.com/2021/03/01/whale-alert-45000...
What would the cost be if you bought a coffee for £2?https://dailyhodl.com/2021/03/01/whale-alert-45000...
Proportionate?
Why would anyone buy a coffee with BTC? 
That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.
That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.PH4555 said:
Why would anyone buy a coffee with BTC? That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.
Isn’t it supposed to be usable in shops one day? That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.People have bought pizzas with it and some very limited shops accept it.
Why is a coffee any different to a Tesla if it’s a ‘currency’?
p1stonhead said:
Isn’t it supposed to be usable in shops one day?
People have bought pizzas with it and some very limited shops accept it.
Why is a coffee any different to a Tesla if it’s a ‘currency’?
Presumably it's more likely to be some sort of "Apple Pay" using BitCoin and coming off a BitCoin balance at somewhere like CoinBase?People have bought pizzas with it and some very limited shops accept it.
Why is a coffee any different to a Tesla if it’s a ‘currency’?
I don't walk around with a pocket full of gold sovereigns because we've found smarter ways of doing things.
Usually where there's a will there's a way.
p1stonhead said:
PH4555 said:
Why would anyone buy a coffee with BTC? That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.
Isn’t it supposed to be usable in shops one day? That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.People have bought pizzas with it and some very limited shops accept it.
Why is a coffee any different to a Tesla if it’s a ‘currency’?
PH4555 said:
p1stonhead said:
PH4555 said:
Why would anyone buy a coffee with BTC? That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.
Isn’t it supposed to be usable in shops one day? That argument is about as logical as saying "but how much would it cost if I paid using my 1kg gold bar?". I think a lot of people are struggling to grasp the different use cases for the various crypto currencies. Apparently BTC has to be good at doing absolutely every type of transaction and contract otherwise it is deemed "worthless, pointless, Ponzi scheme" etc.People have bought pizzas with it and some very limited shops accept it.
Why is a coffee any different to a Tesla if it’s a ‘currency’?
That’s not what a lot of people seem to think.
p1stonhead said:
So it’s not going to be a currency then? Only an ‘investment’
That’s not what a lot of people seem to think.
when the price is high its an investment, when the price is low its the next visa payment system, come on get with the program. But remember even if it hits a million, still Hodl till the moon.That’s not what a lot of people seem to think.
p1stonhead said:
So it’s not going to be a currency then? Only an ‘investment’
That’s not what a lot of people seem to think.
The "a lot of people" you refer to I expect don't care what it is or does, so long as it makes them money That’s not what a lot of people seem to think.
. Ask them how it works or anything about the blockchain, ledger etc and you'll be met with a blank look. I'm only still holding BTC for the gains as I firmly believe it's going to go a LOT higher for the reasons I've said in previous posts.I'm a big supporter of blockchain tech. I have sizeable holdings in many alts. I've been a supporter of Monero nearly from the start and more recently LINK, NANO, UNI, OMI and TRAC. I hope one or more of them becomes the future for payments and we rid this corrupt ponzi fiat system once and for all, but I'm sure TPTB will have other ideas
.PH4555 said:
The "a lot of people" you refer to I expect don't care what it is or does, so long as it makes them money . Ask them how it works or anything about the blockchain, ledger etc and you'll be met with a blank look. I'm only still holding BTC for the gains as I firmly believe it's going to go a LOT higher for the reasons I've said in previous posts.
I'm a big supporter of blockchain tech. I have sizeable holdings in many alts. I've been a supporter of Monero nearly from the start and more recently LINK, NANO, UNI, OMI and TRAC. I hope one or more of them becomes the future for payments and we rid this corrupt ponzi fiat system once and for all, but I'm sure TPTB will have other ideas .
You know how objectively mental you sound there?. Ask them how it works or anything about the blockchain, ledger etc and you'll be met with a blank look. I'm only still holding BTC for the gains as I firmly believe it's going to go a LOT higher for the reasons I've said in previous posts.I'm a big supporter of blockchain tech. I have sizeable holdings in many alts. I've been a supporter of Monero nearly from the start and more recently LINK, NANO, UNI, OMI and TRAC. I hope one or more of them becomes the future for payments and we rid this corrupt ponzi fiat system once and for all, but I'm sure TPTB will have other ideas
.Like honestly?
At the moment there is no decentralised coin system. You still need to buy them with normal money through a small number of companies who often charge you to do so.
One middle man replaced with another.
p1stonhead said:
You know how objectively mental you sound there?
Like honestly?
At the moment there is no decentralised coin system. You still need to buy them with normal money through a small number of companies who often charge you to do so.
One middle man replaced with another.
It's not mental at all. I find it funny how people call BTC a ponzi with no value, yet pieces of green paper with a $ and number on them which are being constantly printed to infinity and thus devaluing are fully legit and worth money Like honestly?
At the moment there is no decentralised coin system. You still need to buy them with normal money through a small number of companies who often charge you to do so.
One middle man replaced with another.
. If there's enough adoption of a particular coin, then why do you need "normal money"? There is no need for fiat anymore as the coin value finds its own level and is traded between parties in exchange for goods and services. Or do you want to be locked in a debt-based ponzi scheme where your spending power is devaluing by the day?PH4555 said:
It's not mental at all. I find it funny how people call BTC a ponzi with no value, yet pieces of green paper with a $ and number on them which are being constantly printed to infinity and thus devaluing are fully legit and worth money . If there's enough adoption of a particular coin, then why do you need "normal money"? There is no need for fiat anymore as the coin value finds its own level and is traded between parties in exchange for goods and services. Or do you want to be locked in a debt-based ponzi scheme where your spending power is devaluing by the day?
But there won't be, because an enormous amount of people are fine with the FIAT they have been using all their lives. Why do they want any coin? It has no advantage, it's not easier to use or cheaper, there is absolutely no reason at all why people need crypto. I have nothing against it, I use it to buy drugs - but most people still use FIAT even for drugs.. If there's enough adoption of a particular coin, then why do you need "normal money"? There is no need for fiat anymore as the coin value finds its own level and is traded between parties in exchange for goods and services. Or do you want to be locked in a debt-based ponzi scheme where your spending power is devaluing by the day?A chubby fishwife said:
PH4555 said:
It's not mental at all. I find it funny how people call BTC a ponzi with no value, yet pieces of green paper with a $ and number on them which are being constantly printed to infinity and thus devaluing are fully legit and worth money . If there's enough adoption of a particular coin, then why do you need "normal money"? There is no need for fiat anymore as the coin value finds its own level and is traded between parties in exchange for goods and services. Or do you want to be locked in a debt-based ponzi scheme where your spending power is devaluing by the day?
But there won't be, because an enormous amount of people are fine with the FIAT they have been using all their lives. Why do they want any coin? It has no advantage, it's not easier to use or cheaper, there is absolutely no reason at all why people need crypto. I have nothing against it, I use it to buy drugs - but most people still use FIAT even for drugs.. If there's enough adoption of a particular coin, then why do you need "normal money"? There is no need for fiat anymore as the coin value finds its own level and is traded between parties in exchange for goods and services. Or do you want to be locked in a debt-based ponzi scheme where your spending power is devaluing by the day?I get it as an investment (just) and hold some myself, but I’ve seen no coherent reason why it’s better than what we at the moment just call ‘money’
More to the point Pounds and Dollars are backed by central banks and pay a return.
Its a fantasy to think that en-mass people are going to use Bitcoin; as has been pointed out, and amusingly even our latest Bitcoin hype-man agrees, its a solution looking for a problem. Or as he puts it "its use case has moved 2 or 3 times in its history", which is quite literally the same thing.
FWIW I do think blockchain technology has a future, but Bitcoin isn't it. It will be used by companies to record transactions and movements, but the final payment will be in £ and $.
Its a fantasy to think that en-mass people are going to use Bitcoin; as has been pointed out, and amusingly even our latest Bitcoin hype-man agrees, its a solution looking for a problem. Or as he puts it "its use case has moved 2 or 3 times in its history", which is quite literally the same thing.
FWIW I do think blockchain technology has a future, but Bitcoin isn't it. It will be used by companies to record transactions and movements, but the final payment will be in £ and $.
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