Bitcoin - a decentralised digital currency

2,289 posts in this topic

On 6/13/2022, 2:29:46, Krieg said:

 


Things are worth what people are willing to pay.  Some people are failing to understand that.

I have no problem with that, I have a problem that Bitcoin is not used for payments (almost) because it is too volatile. A coffee shop owner can charge in Bitcoins but would you buy this coffee knowing that maybe in a week Bitcoin will rise tenfold, so you bought 10 cups of coffee instead of 1. Would you sell your apartments in Bitcoins only to discover that your Bitcoins are now worth half of the apartment? Can you negotiate salary in Bitcoins, then discover that in a month your salary is 10 dollars? Can you as a company owner pay in Bitcoins to your employees only to discover that you owe 10 million USD to 10 of them?

 

Too risky, this is the game for those who like playing casinos.

 

If this is the future, fuck it, I am taking a time machine to the past. 

 

23 hours ago, Acton said:

Of course not. Not as an investment.

I guess you haven't heard of the NFT. 

 

 

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1 minute ago, yourkeau said:

I have no problem with that, I have a problem that Bitcoin is not used for payments (almost) because it is too volatile. A coffee shop owner can charge in Bitcoins but would you buy this coffee knowing that maybe in a week Bitcoin will rise tenfold, so you bought 10 cups of coffee instead of 1. Would you sell your apartments in Bitcoins only to discover that your Bitcoins are now worth half of the apartment? Can you negotiate salary in Bitcoins, then discover that in a month your salary is 10 dollars? Can you as a company owner pay in Bitcoins to your employees only to discover that you owe 10 million USD to 10 of them?

 

Too risky, this is the game for those who like playing casinos.

 

If this is the future, fuck it, I am taking a time machine to the past. 

 

 

 

Are you aware there are stable cryptos? most of them attached to the US dollar.

 

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32 minutes ago, Krieg said:

 

Are you aware there are stable cryptos? most of them attached to the US dollar.

 

 

That is what I though about the terra Stable Coin.

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2 minutes ago, RenegadeFurther said:

 

That is what I though about the terra Stable Coin.

 

Yes that was a big drama but we were all told, algorithmic stable coins can't be trusted yet.

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30 minutes ago, Krieg said:

 

Yes that was a big drama but we were all told, algorithmic stable coins can't be trusted yet.

 

hmmmm,

 

During the Luna crash, the TetherUS Stable Coin briefly also lost its peg to the dollar (went to 95 cents to the dollar).

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4 hours ago, Krieg said:

 

Are you aware there are stable cryptos? most of them attached to the US dollar.

 

Actually, no. Last year Bank of Israel planned to create something like this, but this is still an idea only, the risks are being analyzed at the moment. 

 

 

 

 

 

 

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Some countries such as El Salvodor, have adopted crypto currencies. Most of these countries are economically underdeveloped. It is just too risky. How will things turn out now that the value o bitcoin and the others have dropped a lot?

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