Banking on Bitcoin

If banks were as vulnerable as the exchanges... the dollars value would never have the current demand.

Hence the creation of the FDIC backing.

Exchanges are the banks to a bitcoin. If the government ever insures digital currency.. then hell.. I'm in.

Until then.. I'll run more tangible stuff with historical trends.
Banks are valnerable there have been a number of major data breaches this year alone with banks its just not as widely reported and consumers have more confidence in system (for good reason)
 
Banks are valnerable there have been a number of major data breaches this year alone with banks its just not as widely reported and consumers have more confidence in system (for good reason)

That's the whole point. Traditional currency and finance have tools in place to build confidence... and stability.

Digi currency does not have backing of the us gov. Think about it... banks are insured and have a whole fbi agency (investigate and recover) to instill confidence. Not to mention the stability of the us economy.

Anyways.. hope you make tons of money. Best of luck.
 
I think that’s the whole point, issues with fiat currencies are usually hidden or delayed by printing more money or going to war. Blockchain is thriving without these failing systems in place.
A lot of IT security issues are down to agencies like the fbi asking tech companies to leave backdoors and keys into their systems for our protection.
 
This isnt the first time blockchain currency has been compromised.

Bitcoin was not hacked. An exchange was hacked. Please understand the difference.

You're basically claiming the United States dollar was hacked because a PNC or Fifth Third bank was robbed.

USD is a currency, not a bank.
BTC is a currency, not an exchange.
 
I wouldn't touch this nonsense with a 25 foot pole. I wouldn't touch our American fiat currency with one either, but I have no choice.
 
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I’m not very informed when it comes to cryptocurrency. So is that 1 share of Bitcoin is worth 39k? Meaning an individual holding shares (if that’s what they are) could sell today and make a hefty profit? I’m not sure how Bitcoin is traded/exchanged or even used at all
 
I’m not very informed when it comes to cryptocurrency. So is that 1 share of Bitcoin is worth 39k? Meaning an individual holding shares (if that’s what they are) could sell today and make a hefty profit? I’m not sure how Bitcoin is traded/exchanged or even used at all

Cryptocurrencies are usually priced by the unit, but most can be divided down to a pretty precise decimal place. For Bitcoin that’s called a “satoshi” and it’s 0.00000001 of a Bitcoin.

it throws of those of us with a round number bias!
 
Anyone heard of mine pi? You doanload the app and mine for free. They just halved the mining. Heres the link: https://minepi.com/ . Not sure if it might hold some value in the far future.
 
Anyone heard of mine pi? You doanload the app and mine for free. They just halved the mining. Heres the link: https://minepi.com/ . Not sure if it might hold some value in the far future.
To me it looks like another shitcoin - but maybe it’s too early to tell. I just don’t see what value it adds beyond anything else already out there.
 
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I invest in group psychology as a rule. So I did put some money to work in July in Grayscale Bitcoin Trust. Bought some more in mid November. The value of Bitcoin is like any other asset... it's what someone is willing to pay.... Belief is strong in bitcoin.

Likewise, I bought into the BS Green Industry back in July as well, not because I have any belief in those companies but because others do.
 
This reminds me of people converting cash to silver in the 1960s and then no one accepting the silver. The market price may have been there but reasonably converting silver to cash wasn’t. Cash is a charade but everyone is playing. Until Kroger starts accepting bitcoin and at reasonable exchange rates, I’m out.
 
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This reminds me of people converting cash to silver in the 1960s and then no one accepting the silver. The market price may have been there but reasonably converting silver to cash wasn’t. Cash is a charade but everyone is playing. Until Kroger starts accepting bitcoin and at reasonable exchange rates, I’m out.

It's pretty easy to turn bitcoin into actual cash though
 
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It's pretty easy to turn bitcoin into actual cash though

But that keeps you reliant on the fiat currency. Is bitcoin an investment or a currency? You generally want a currency convertible to goods and services, not first converted to USD.

while I am not a bitcoin fanatic, I do support currencies that exist outside the purview of the federal reserve.
 
DogeCoin up 200% :ROFLMAO::ROFLMAO::ROFLMAO:
Always knew Investing in memes would pay off one day

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GameStop: how Reddit amateurs took aim at Wall Street’s short-sellers​


"The co-ordinated effort by users of the online forum Reddit to drive up the share price of GameStop and other companies is designed to turn the screw on short-sellers.

What is short-selling?

It’s a way of making money by betting that a company’s share price will fall.

What has happened with GameStop?

In this case, Reddit users in a group called WallStreetBets noticed that hedge funds, including one called Melvin Capital, had taken a large short position in GameStop. They decided to punish the Wall Street big boys and launched a co-ordinated buying spree. That began forcing the price up – it is now up more than 1800% – increasing the losses for the short-sellers who had bet against it. They had suffered losses of $1bn already, according to reports on Thursday."

https://www.theguardian.com/busines...s-amateurs-tripped-wall-streets-short-sellers
 
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