Bitcoin and Crypto...

Just curious....

Earlier this year I came to a crossroads and left my cushy engineering job and went all in on Bitcoin and the whole crypto markets....it's certainly the wave of the future (IMHO), and I'm just curious to know how many of you here are familiar with it, accept it, use it, or are just completely adverse to it...

Cheers

Kitty litter thread.

Digits on a computer screen are not currency imo.

It is an interesting concept, but I think that the term "bitcoin" has recently been negatively associated with the hackers who are using that as their payment medium for people who get bit by the "ransomware" and want their files back.

As far as wave of the future, it has been around for a while, yet I dont see it as a wave of the present just yet.

Also, what is the minimum value of a bitcoin these days?

(And yes, kitty litter thread for further discussion. Maybe even in the national technical forum perhaps)

Also, what is the minimum value of a bitcoin these days? Originally Posted by TryWeakly

A bit over 2000 USD

Are you just investing in the market or are you mining??

Good question^ he didnt really say

I bought bitcoin and etherium and have made a killing relative to mainstream investments. Therein lies the problem. As volatile as these things are, and as speculators move in and out, how can these things survive as a currency? A provider accepts $$ worth of bitcoin for her services, and the next morning it is worth $20, or $1,000.

Too unstable as a real currency right now.

Well, cryptos has been crashing recently I wouldn't suggest buying any crypto as they are unsafe and unreliable. Nothing really backs you up if one day the whole market just dispears. I'll suggest investing in stocks and bonds. Stocks Berkshire Hathaway class B is a sure thing, but If you want no risk at all get government bonds

....
Too unstable as a real currency right now. Originally Posted by Klinghoff

Well a whole bunch of government regulatory control should level things out.

Well, creepers have been stealthing recently I wouldn't suggest fucking any creeper as they are unsafe and unreliable. Nothing really backs you up if one day the whole comdom just disappears. I'll suggest investing in sticks and stones to beat my ass. Originally Posted by the cute papi

FTFY

Been Mining for the last 18 months. The equipment has paid for itself so far. Getting new Mining equipment has been tough lately...and a lot more expensive.

^ thats how they "get ya" .... the whole thing seems a hit shady... and for shady purposes at that.

Bitcoin was created for shady purposes. It is a tradable commodity, not currency in my opinion. When I can buy something with it in an open market, it becomes a currency. For now...can't use it to buy gas, a car, a house, pay for a hotel, a meal, etc....without first exchanging it for....currency. No different to me than buying gold or silver, except gold and silver at least have a use in commercial markets and industry.

In fact, my friends who were screaming about gold going to $5,000 when it was at $1,800 and how the Fed was printing money and debasing the USD and we need to return to a gold standard...are the same ones pumping cryptos now. How can you be pro-gold standard and then flop to a "currency" with absolutely NOTHING backing it but a mysterious trading market favored by drug dealers and other underground cartels?

I see it as a game of musical chairs and I wouldn't want to have my investment capital in it when the music stops.

For now...can't use it to buy gas, a car, a house, pay for a hotel, a meal, etc....without first exchanging it for....currency. Originally Posted by targaman85

Most of those things have already been paid for by bitcoin.

Good, it makes it easier for the government to identify and confiscate due it possibly being used as money laundering. The