Cryptocurrency (26 Viewers)
- Thread starter Quetzalcoatl
- Start date
OP
I meant the gains ppl bring out of it. Crypto can never replace the reigning monetary system and those few gimmicky privacy coins like monero are only there to buy weed or hire a hitman on the darkweb. Btc is slow as shit and expensive to transfer anyway. When I say adoption I mean a world of decetralized applications and platforms based on blockchain, used by corporations and consumers - not a parallel banking system that the governments must fear. 95% of crypto are tech start-ups anyway. I see the bigger danger in repeating the dotcom bubble, not in government shutdown
Bitcoin only exists because it has been legally described as a commodity. And in a way that makes sense. Because bitcoin's value is rather uncertain and unstable. For it to really work as a currency it would need more stability. On the other hand there is no denying that bitcoin strives to be a currency. The original designer of bitcoin clearly wanted it to eventually replace currency, but with the benefit that it would be decentralized and take away the need for trust (which with money you have to place in a bank for example).
The problem is that if bitcoin ever were to be stable enough to be money, I think it is likely to become illegal.
Personally I wouldn't invest a lot of money in something that has such an uncertain future. But of course if you want to make big bucks, you can usually only do so precisely by investing in uncertain things.
OP
Yup, the price instability makes it impractical for use a currency now. I don't know if it can ever get the stability needed; maybe as the volumes traded get high enough over time (reducing volatility), and the number of new coins being mined gets less.
It would be hard to prevent people from trading Bitcoin though. The best they can do I think, is shutting down the online exchanges that buy and sell for fiat.
It would be hard to prevent people from trading Bitcoin though. The best they can do I think, is shutting down the online exchanges that buy and sell for fiat.
The tokens you see being traded mostly serve the function of petrol within their respective blockchain based ecosystem. For exampble, if companies or users want to use ethereum built smart contracts or dApps they need actual ether tokens to run them. That's their value derivation. Works simillarly for other types of crypto like decentralized exchanges, content platforms, protocols
Taken out of context though? 
.I was telling him I didn't really trust him. I think he often portrays himself as a victim and as a typical 'nice guy'. And there's a reason women hate guys who think of themselves as nice guys: they're manipulative and see others as games they can score points with. Buy a flower, get one point, buy dinner, get three. Then when they get to 10 points and there's still no sex, they become angry.
So basically we were discussing about this when he went crazy (as he so often does) and posted this gem.
OP
What applications for example? And what uses does Bitcoin for example have that are not as a means of payment?
Really don't know much about the topic
Really don't know much about the topic