|
Author |
Message |
Lord Percy |
This post is not being displayed .
|
Lord Percy World Chat Champion
Joined: 03 Aug 2012 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Jayy |
This post is not being displayed .
|
Jayy Mr. Ponzi
Joined: 08 Jun 2009 Karma :
|
Posted: 17:37 - 14 Dec 2017 Post subject: |
|
|
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Pjay |
This post is not being displayed .
|
Pjay World Chat Champion
Joined: 18 Jan 2016 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Sload |
This post is not being displayed .
|
Sload World Chat Champion
Joined: 28 Aug 2011 Karma :
|
Posted: 21:09 - 14 Dec 2017 Post subject: |
|
|
This thread is giving me a good laugh. ____________________ Honda Varadero >> Triumph Speed Four >> Honda CBR1100xx |
|
Back to top |
|
You must be logged in to rate posts |
|
|
Lord Percy |
This post is not being displayed .
|
Lord Percy World Chat Champion
Joined: 03 Aug 2012 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Ste |
This post is not being displayed .
|
Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Lord Percy |
This post is not being displayed .
|
Lord Percy World Chat Champion
Joined: 03 Aug 2012 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Ste |
This post is not being displayed .
|
Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
|
Posted: 22:02 - 14 Dec 2017 Post subject: |
|
|
Do feel free to have a look at the page I just linked to.
Failing that, there's always localbitcoins.
https://localbitcoins.com/country/CN
If someone is having lots of trouble digesting and understanding it all then I'd just advise them to steer clear of bitcoin. |
|
Back to top |
|
You must be logged in to rate posts |
|
|
MarJay |
This post is not being displayed .
|
MarJay But it's British!
Joined: 15 Sep 2003 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Lord Percy |
This post is not being displayed .
|
Lord Percy World Chat Champion
Joined: 03 Aug 2012 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Jewlio Rides Again LLB |
This post is not being displayed .
|
Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Ste |
This post is not being displayed .
|
Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
|
Posted: 22:33 - 14 Dec 2017 Post subject: |
|
|
You don't need to trade bitcoin for cash before you can buy something.
I'll sell you a Mars Bar for 1 bitcoin.
I'll then go and buy stock from the wholesalers that accepts bitcoin.
From that point on I don't really care what they do with their bitcoin. It makes no difference to me what currency they choose to convert their bitcoin to.
Your description of why it's a valueless pyramid fad which is only being propped up because more and more people are chucking money into the pot sounds not dissimilar to inflation and quantitative easing which aren't problems bitcoin has.
What it's good for is being a decentralised currency which is a lot closer to being anonymous than fiat currencies are. When you combine that with the international transfer / transaction fees your bank will hit you with, it's a viable option for transferring capital around.
Unfortunately I've no idea where you'd need to go to speculate for profits based on the current size and wealth of the entire user base and their accounts. That sounds almost impossible because being decentralised means there's no record of how many people are using it. |
|
Back to top |
|
You must be logged in to rate posts |
|
|
Lord Percy |
This post is not being displayed .
|
Lord Percy World Chat Champion
Joined: 03 Aug 2012 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Ste |
This post is not being displayed .
|
Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
|
Posted: 23:11 - 14 Dec 2017 Post subject: |
|
|
"a stable economy requires a central bank"
The Bitcoin economy is doing just fine without one.
If you think you haven't got enough bitcoins then you can go to P2P lenders. Or you could use some fiat currency to buy bitcoins.
There's a lot more to the reasons why the value of bitcoin goes up than just because money is being chucked in.
You could get websites to show the current value against Mars Bars if you wanted to. The current value being displayed will depend on which exchange they're tracking.
The size and wealth of the entire user base are both unknown. Everyone can see transactions that are being made but that's not the same as wealth.
Just because you don't understand something or see what it's good for doesn't mean that it's a nonsense fad pyramid scheme. I mean, it's taken 14 pages for you to understand what a Bitcoin exchange is. |
|
Back to top |
|
You must be logged in to rate posts |
|
|
bladerunner |
This post is not being displayed .
|
bladerunner World Chat Champion
Joined: 09 Sep 2006 Karma :
|
Posted: 23:28 - 14 Dec 2017 Post subject: |
|
|
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Jewlio Rides Again LLB |
This post is not being displayed .
|
Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
|
Posted: 23:55 - 14 Dec 2017 Post subject: |
|
|
What hardware you using? ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
|
Back to top |
|
You must be logged in to rate posts |
|
|
Lord Percy |
This post is not being displayed .
|
Lord Percy World Chat Champion
Joined: 03 Aug 2012 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Jewlio Rides Again LLB |
This post is not being displayed .
|
Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
|
Posted: 00:12 - 15 Dec 2017 Post subject: |
|
|
So you can buy in? ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
|
Back to top |
|
You must be logged in to rate posts |
|
|
bladerunner |
This post is not being displayed .
|
bladerunner World Chat Champion
Joined: 09 Sep 2006 Karma :
|
Posted: 01:06 - 15 Dec 2017 Post subject: |
|
|
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Jewlio Rides Again LLB |
This post is not being displayed .
|
Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
|
Posted: 01:07 - 15 Dec 2017 Post subject: |
|
|
Fair enough. Using Minergate? ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
|
Back to top |
|
You must be logged in to rate posts |
|
|
bladerunner |
This post is not being displayed .
|
bladerunner World Chat Champion
Joined: 09 Sep 2006 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
bladerunner |
This post is not being displayed .
|
bladerunner World Chat Champion
Joined: 09 Sep 2006 Karma :
|
Posted: 01:22 - 15 Dec 2017 Post subject: |
|
|
monero was worth $8.40 in january this year.it was $279 a week ago...today its $328 so 16% rise in just a week or 3900% rise in less than 12 months....its payday loan kinda returns ____________________ Current bikes...cbr929, KDX200's, Rd125lc mk2, RGV250's |
|
Back to top |
|
You must be logged in to rate posts |
|
|
The Artist |
This post is not being displayed .
|
The Artist Super Spammer
Joined: 06 Jan 2008 Karma :
|
Posted: 02:54 - 15 Dec 2017 Post subject: |
|
|
Lord Percy wrote: | Quote: | Cryptocurrency can bypass these rules easily. |
And that's a reason why China banned exchanges of cash for crypto. |
So first you are saying it was banned because it is a pyramid scheme and then you agree with me saying it was because of capital controls? OK...
Lord Percy wrote: | "ICOs and exchanges are banned" is crypto-Latin to me. |
Then why are you so fervently anti-crypto?
Lord Percy wrote: | I want to know exactly what a person can still do with their bitcoins in China, in the Chinese market, if they want to buy something in China. |
Anything they want except set up an exchange that deals with CNY or set up an ICO. An ICO is just a blockchain based kickstarter but instead of goods, you get an investment in whatever company is offering it. These are mostly money grabs so sensible people avoid the vast majority.
Lord Percy wrote: | Right so the bitcoins still need to be traded for real money before they can be used to physically buy anything. |
No. Localbitcoins is a way to buy and sell BTC for fiat money. It doesn't mean you need to sell BTC for fiat to buy something. That is up to whichever vendor you want to buy from.
Lord Percy wrote: | Speculation for profit is done by the huge charts on every bitcoin app and websites which show its current value against real world currencies (funny how they're all so obsessed with how much real world currency bitcoin can be traded for). |
Yeah, because if you want to measure value, regular currencies are relatively stable compared to crypto. Crypto is a new asset class.
Lord Percy wrote: | No it isn't doing fine at all, it's volatile as fuck ! |
No shit. You can't just create a multi trillion $ industry out of thin air. It takes time and with this sort of growth comes market manipulators as well as regular people that are emotionally invested and trying to squeeze a bit of profit out at every opportunity.
Lord Percy wrote: | All you need is for a few high up and respected bitcoin folk to tell the lower ranks of the following that it's all about to crash, just for lols, and then crash it most certainly will, when the rush to convert bitcoins to real cash begins. And there's no central bitcoin bank or regulator to keep things going smoothly when that happens. |
People have been saying that from day 1. You are not adding any new information, you are just expressing an opinion of what might happen and a lot of people disagree with you. Anyone who claims to know what will happen in financial markets in the future is either a genius or unaware of how complex these things are.
Lord Percy wrote: | I do understand it. It's a nonsense fad pyramid scheme with a devout following of people whose only reason for being so supportive of it is because there are more followers coming after them who pay in and add more potentially withdrawable wealth to the system. |
Just have to disagree there. The use cases for blockchain technology are endless. If you don't understand why there needs to be a financial backbone to the blockchain to make it work then you need to do more research.
Lord Percy wrote: | I look forward to the crash. |
Me too! |
|
Back to top |
|
You must be logged in to rate posts |
|
|
Pjay |
This post is not being displayed .
|
Pjay World Chat Champion
Joined: 18 Jan 2016 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Rogerborg |
This post is not being displayed .
|
Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
|
|
Back to top |
|
You must be logged in to rate posts |
|
|
Old Thread Alert!
The last post was made 6 years, 125 days ago. Instead of replying here, would creating a new thread be more useful? |
|
|
|