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Bitcoin took another big loss today

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ty_ger07
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Re: Bitcoin took another big loss today 2018/02/23 07:26:10 (permalink)
I disagree. Almost all of it is still applicable. Much of the same information you can find in the cryptocurrency headlines within a day ago. The technical limits, the community disagreements, the selfishness, the speculation issue, the seasonal market and fee trends, and the reason why it isn't used as a currency... all still applicable. Did you read it? I believe that the majority of that blog is not only applicable, but visionary considering when it was written. But, given the source, it makes sense that it is so enlightened.

For example, yesterday:
https://www.express.co.uk...h-worth-cryptocurrency

He [Mr Rainey] said: "Given the volatility of bitcoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10 percent profit margin, and you accept bitcoin, and the very next day bitcoin drops 15 percent, you are now underwater on that transaction.”
post edited by ty_ger07 - 2018/02/23 07:46:33

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Chris21010
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Re: Bitcoin took another big loss today 2018/02/23 09:18:42 (permalink)
i did read it lightly and everything i read was dated. fee's are a no issue now, speculation is a stupid thing to even discus because that is something everything has (even the USD with the US budget issues), if you consider the HOLD method of investment selfish than that a personal issue, the disagreement has basically resolved itself with Bitcoin Cash fork and the introductions of segwit and the lightning networks the technical limits will again soon be a thing of the past.
 
the only real point that still stands is that BTC as it currently stands is more like gold than the USD paper bills. where people grab it and hold on to it. because of its seen value and potential for massive growth. unlike the USD where people see it for what it is and spend it as fast as they earn it. this is where honestly i believe that a state backed crypto would be able to make great headway into the commodity segment of crypto instead of an investment.


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ty_ger07
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Re: Bitcoin took another big loss today 2018/02/23 09:23:44 (permalink)
Read it non-lightly. Or don't read it. It's your choice. Just don't comment without first reading it. ;) Comments ignored. Comparing crypto to gold? Ha! When USD falls, Bitcoin falls, and Gold goes up. Hmm. Yes, very comparable. ;)
post edited by ty_ger07 - 2018/02/23 09:27:10

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Chris21010
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Re: Bitcoin took another big loss today 2018/02/23 09:35:29 (permalink)
I would argue differently. The failure of the USD would give validity to a global decentralized currency. Which would only make BTC go up. So yea, a very accurate comparison i think. The only thing to make BTC worthless is to kill the internet.


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ty_ger07
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Re: Bitcoin took another big loss today 2018/02/23 10:05:37 (permalink)
Except, look at recent charts for BTC/XBT/whatever-no-one-can-agree-on, USD based stock exchange, and gold value.
I wasn't just theorizing or applying ideology.
 

 
From Christmas Day until now, at Bitcoin's highest, gold was near its lowest.  As Bitcoin dropped, gold went up.  And Bitcoin and the NY Stock Exchange are trending together quite a lot; especially since the beginning of February.  That's not good for the basis of Bitcoin's ideology.
 
Full disclosure: I do a little bit of mining and speculation myself.  So, please don't think I am just a square. With the combination of mining on low performance/efficient machines and a small "investment", I have made $326 so far this year. But I am being incredibly conservative and cashing out quickly each time. I guess that I lack faith.
post edited by ty_ger07 - 2018/02/23 12:32:10

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bcavnaugh
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Re: Bitcoin took another big loss today 2018/02/23 10:21:40 (permalink)
You two might need to get a room

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