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Meanwhile in NFT land...    

My bitcoin has been going nutssssssss! Up 70% in the last month and almost 1000% this year! Gimme the loot baby!    Edit: when bitcoin was first developed I started mining it and had al

The first rule of crossfit/Crypto: always talk about crossfit/crypto

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26 minutes ago, abenjami said:

I think you might need to freshen up on the definition of currency. 

"refers to money in any form when in actual use or circulation as a medium of exchange"

 

Bitcoin is used to buy things everyday...

 

There are literally crypto exchanges doing millions of $ worth of transactions every day that use BTC as the primary medium of exchange.

 

The BTC network processes over 200k transactions a day.

 

What BTC isn't, is a convenient unit of account due to the low number of merchants who accept it and its volatility, but that is the final stage in something's adoption as currency. Bitcoin is currently in the process of proving itself to be a durable store of value.

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12 minutes ago, Titans_Win_Again said:

"refers to money in any form when in actual use or circulation as a medium of exchange"

 

Bitcoin is used to buy things everyday...

 

There are literally crypto exchanges doing millions of $ worth of transactions every day that use BTC as the primary medium of exchange.

 

The BTC network processes over 200k transactions a day.

 

What BTC isn't, is a convenient unit of account due to the low number of merchants who accept it and its volatility, but that is the final stage in something's adoption as currency. Bitcoin is currently in the process of proving itself to be a durable store of value.

Some people also used Garbage Pail Kids as a medium of exchange.  That didn't make them currency in the sense you want to consider bitcoin.

 

I just went to buy lunch at the grocery store.  I asked the cashier if I could pay in bitcoin.  He said no, they do not accept bitcoin.

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17 minutes ago, abenjami said:

Some people also used Garbage Pail Kids as a medium of exchange.  That didn't make them currency in the sense you want to consider bitcoin.

 

I just went to buy lunch at the grocery store.  I asked the cashier if I could pay in bitcoin.  He said no, they do not accept bitcoin.

Yea, it's totally the same thing as Garbage Pail Kids

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3 minutes ago, Titans_Win_Again said:

Yea, it's totally the same thing as Garbage Pail Kids

I think it's unwise to give opinions about things you don't own or even intend to own.  I know some pretty smart people who invest in crypto.  They have made a lot of money in the past.  I don't trade options, but a lot of people make a whole lot of money trading them.  It's all a zero sum game.  

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You buy a BTC today @ 3500 USD... Within 3 years, you are likely to experience 5000-9000% increase in value. BTW, a 5000% increase from today would be about 175K per coin.... just saying... a lot of smart money... humans are creatures of habits. The next bull run will inevitably start again. 

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I tried to

8 hours ago, Supdawg said:
 

You buy a BTC today @ 3500 USD... Within 3 years, you are likely to experience 5000-9000% increase in value. BTW, a 5000% increase from today would be about 175K per coin.... just saying... a lot of smart money... humans are creatures of habits. The next bull run will inevitably start again. 

Who is going to be the last fool in?  Say me, average Joe buys 3 bitcoins.  They will then be worth half million dollars.  Who will give me the half million?  At some point the value is no longer useful.  When btc hit the last high, the exchanges couldn't handle the transactions.  Plus, btc is subject to cybercrime.  Nerds from MIT, Berkley, University Tennessee and all the rest of them will become hackers.

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5 hours ago, Number9 said:

I tried to

Who is going to be the last fool in?  Say me, average Joe buys 3 bitcoins.  They will then be worth half million dollars.  Who will give me the half million?  At some point the value is no longer useful.  When btc hit the last high, the exchanges couldn't handle the transactions.  Plus, btc is subject to cybercrime.  Nerds from MIT, Berkley, University Tennessee and all the rest of them will become hackers.

If you think that Bitcoin could go to 175K per coin, and there wouldn't be enough liquidity to cash out? That makes zero sense. For the coin to get to that number there would be enormous buy pressure over long periods which would drive up liquidity to unheard of levels. 

 

The problem with the exchanges last December during the peak buying season both the internal BTC network as well as the exchanges were not ready for the volume. During the past year, BTC has solved the scaling problems it faced, and the exchanges has invested millions of dollars in solving their scaling issues. In short, the infrastructure is there to handle 100x the volume as before. 

 

BTC is no more subject to cybercrime than the US dollar. That is a false narrative being pushed by mainstream media. 

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3 hours ago, Supdawg said:

If you think that Bitcoin could go to 175K per coin, and there wouldn't be enough liquidity to cash out? That makes zero sense. For the coin to get to that number there would be enormous buy pressure over long periods which would drive up liquidity to unheard of levels. 

 

The problem with the exchanges last December during the peak buying season both the internal BTC network as well as the exchanges were not ready for the volume. During the past year, BTC has solved the scaling problems it faced, and the exchanges has invested millions of dollars in solving their scaling issues. In short, the infrastructure is there to handle 100x the volume as before. 

 

BTC is no more subject to cybercrime than the US dollar. That is a false narrative being pushed by mainstream media. 

This is seriously hilarious and sounds like a drug addict in denial.

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