Is Bitcoin going to be the currency of the internet?

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Internet Marketers seem to be people that are in touch with technology, the internet and things that are trending. I would be interested to hear your views on Bitcoin. I do not currently hold any stock in this currency and have felt even at today's prices that I have missed the boat in terms of it being an investment.

Do you think that in time to come that there will be more Bitcoin ecommerce or do you think that the main online currency will still be the US dollar?
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  • Profile picture of the author OptedIn
    Originally Posted by posinfo1 View Post

    I have missed the boat
    One man's boat is another man's sinking ship.

    You have much to be thankful for, today. Don't blow it. :-)
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  • Profile picture of the author tagiscom
    Originally Posted by posinfo1 View Post

    Do you think that in time to come that there will be more Bitcoin ecommerce or do you think that the main online currency will still be the US dollar?
    Considering how much BC is dropping, some are trying to create another Bitcoin based on the US currency, (called stablecoin, or something like that).

    So a better idea, but not by much.

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  • Dialog, Sweetie, always dialog.


    Currency is heart an' soul 'bout maxo exchange between fired up blastopeeps hittin' the f*ck off.


    Anythin' else gowin' on is kinda ACCIDENT.
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  • Profile picture of the author Odahh
    Originally Posted by posinfo1 View Post

    Internet Marketers seem to be people that are in touch with technology, the internet and things that are trending. I would be interested to hear your views on Bitcoin. I do not currently hold any stock in this currency and have felt even at today's prices that I have missed the boat in terms of it being an investment.

    Do you think that in time to come that there will be more Bitcoin ecommerce or do you think that the main online currency will still be the US dollar?
    bitcoin is an digital asset that's only value is the speculation that it will be more usefull in the future.. it can not act as a real currency or medium of exchange ..

    block chain great potential.. bit coin ..look US dollars and other currencies .. i can agree to pay you so much every month ..or a set number of payments .. with the volatility of most crypto .. you cannot do that ..

    there is nothing you can do to effect the value of bitcoin.. and it does not provide any way to produce cashflow ..it is not an investment it is pure speculation
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    • Profile picture of the author posinfo1
      Thanks for that. Those who bought Bitcoin last December must be feeling that the speculation on the currency has become something of a nightmare. It is currently trading at 80% less than last December's peak price.
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      • Profile picture of the author OptedIn
        Originally Posted by posinfo1 View Post

        It is currently trading at 80% less than last December's peak price.
        And still sinking like a rock.
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      • Profile picture of the author Odahh
        Originally Posted by posinfo1 View Post

        Thanks for that. Those who bought Bitcoin last December must be feeling that the speculation on the currency has become something of a nightmare. It is currently trading at 80% less than last December's peak price.
        most of those who bought near 20 most likely got out at 15 or 12 .. and took their losses ..

        but remember there where people who bough gold at the high in the 70's (that adjusted for inflation it has yet to reach again)..and are still declaring the us dollar will fall and a gold backed currency is the future..
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  • Profile picture of the author brytespaklz
    I think it is good to understand the underlying philosophy behind Bitcoin ( a cryptocurrency) .

    One is the technology that powers it- Blockchain technology. This greatly reduces the cost and time element of financial transactions. It also increases security. This technology is here to stay and is being explored and adopted by several big financial and non-financial organizations. This means bitcoin will not hit the trash can any time soon.

    Secondly is the speculative value of bitcoin. Well, the continuous introduction of other equally popular cryptocurrencies e.g. Ethereum, means the growth in the speculative value of bitcoin is likely to slow down over the next 6-9 months. However the recent comment by The Managing Director of the IMF advising Central banks all over the world to seriously consider adopting cryptocurrencies for transactions means there will likely be a temporary spike in the value of bitcoin which is the first cryptocurrency.

    You can however still get your share of the cryptocurrency pie and still minimise your risk by investing in cryptocurrency mining. There are several mining companies you can invest a token amount in and get monthly rewards. Genesis Mining is one of them.
    Goodluck.
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    • Profile picture of the author OptedIn
      Originally Posted by brytespaklz View Post

      Goodluck.
      You'll need it.
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  • Profile picture of the author ryanbiddulph
    Hi Mark,

    If it does become the main internet currency it will be far beyond our lifetimes.

    Trust; BTC is years off from being fully trusted enough by the majority of internet folks so we actually lobby institutions to accept BTC. Too much fear, greed, desperation and wildness concerning it. But things should settle down, eventually. Long ways off though.
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    • Profile picture of the author Odahh
      Originally Posted by ryanbiddulph View Post

      Hi Mark,

      If it does become the main internet currency it will be far beyond our lifetimes.

      Trust; BTC is years off from being fully trusted enough by the majority of internet folks so we actually lobby institutions to accept BTC. Too much fear, greed, desperation and wildness concerning it. But things should settle down, eventually. Long ways off though.
      Here is my theory as why Bit coin .. can not function as a currency at any type of scale ..now or at any point in the future. and why prices may never be set in any crypto currency.. but payments of 20 Usd worth of bitcoin or Ether.. or what ever crypto .. might become common ..

      nothing to do with fear or distrust .. right now 20 usd worth of bitcoin where bitoins is about 4,000 usd per .. wait can you do the math in your head .. is tha .005 of a bitcoin i ow you or .0005 .. or wait is it even ..the conversion math is difficult.. near improssible for 90 plus percent of people

      and i am not going borrow a certain amount of bit coin and promis to pay that same amount of bit coin back with bitcoin interest .. with wild shifts in value ..

      Block chain is going to grow as a tech .. but crypto currencies will not dominate as currency in their current state

      but my theory
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    • Profile picture of the author posinfo1
      My feeling is that Bitcoin and other crptocurrencies are a coming idea rather than something to put your life savings in.
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  • Profile picture of the author tagiscom
    Yes, l sat in on my Mothers yearly financial update recently, and asked a professional managing millions of dollars of his clients money, about Bitcoin.

    He said that it was a junk stock and based on greed.

    So l would say that BC is a currency for the emotional needy and deniast bankrupts.

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  • Profile picture of the author Nosi
    If you buy and hold BC yes it is very risky, but if you mining bitcoin you are safe. I am mining bitcoin on bitclub network the best decision ever
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    • Profile picture of the author posinfo1
      Mining seems like a smart way of getting Bitcoins.

      Do you need any special kit or training to do mining?
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      • Profile picture of the author OptedIn
        Originally Posted by posinfo1 View Post

        Do you need any special kit or training to do mining?
        A Google search for Bitcoin mining will provide a wealth of information on this topic.

        Your opinion on how easy it is, will probably change after doing your research.
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    • Profile picture of the author whateverpedia
      Originally Posted by Nosi View Post

      If you buy and hold BC yes it is very risky, but if you mining bitcoin you are safe. I am mining bitcoin on bitclub network the best decision ever
      According to Mr Google you're not mining bitcoins at all and there's no evidence that bitclub network.is doing any mining either. Any money that's generated (and once again there's no evidence of that occurring) comes from recruiting new members into the "club".

      It is a classic Ponzi scheme.
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      • Profile picture of the author Odahh
        Originally Posted by whateverpedia View Post

        According to Mr Google you're not mining bitcoins at all and there's no evidence that bitclub network.is doing any mining either. Any money that's generated (and once again there's no evidence of that occurring) comes from recruiting new members into the "club".

        It is a classic Ponzi scheme.
        Doesn't this describe bitcoin itself .. any value comes from new people being willing to buy bitcoin ..there is just no single person running it.. just a computer algorithm created by a person or group we have no idea exactly for sure the identities of

        I am pro block-chain ..and it think cryptos that can be used as real currencies will be very important in the future ..just not bitcoin

        bitcooin.. has the future of AOL/myspace
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      • Profile picture of the author Nosi
        There are daily dividents you earn which you can exchange in any currency and use it anytime once you bought mining shares and it is an option for you to recruit and earn extra income
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    • Profile picture of the author hardraysnight
      Originally Posted by Nosi View Post

      If you buy and hold BC yes it is very risky, but if you mining bitcoin you are safe. I am mining bitcoin on bitclub network the best decision ever
      can you give us actual results because you need a degree in pataphysics to un derstand the website
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      • Profile picture of the author whateverpedia
        Originally Posted by hardraysnight View Post

        can you give us actual results because you need a degree in pataphysics to un derstand the website
        There's the thing, I read a few reviews I found on Google going back to when BTC was just beginning its upward climb, but before it went through the roof. No-one could provide any proof that money was actually being earned in the network.

        Instead of "investing" in the club to make money from their alleged mining activities you could have simply bought a few BTC for the same investment and sat back and cashed out when it went ballistic.

        As I stated above, the only money being generated is by recruiting new members into your downline. Even then there doesn't seem to be much money being earned for "investors", apart from the ones who set it up in the first place.

        It is also worth noting that the US authorities have banned US citizens from joining the "club".

        That last sentence is probably all you need to know about it.
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  • Profile picture of the author Kay King
    Perhaps the most lasting impression of BC years from now will be the digital ink spent writing about it.


    From $0 to $20k to $3600 today....and there are still proponents who claim 'it will hit one million'.



    Seems to me the only smart investment in crypto is to buy 1-2 units when they first launched and then hope for profit in the future. People who bought in at the 'high' are not investors - they are wannabe speculators...a/k/a fools.
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    • Profile picture of the author Odahh
      Originally Posted by Kay King View Post

      Perhaps the most lasting impression of BC years from now will be the digital ink spent writing about it.


      From $0 to $20k to $3600 today....and there are still proponents who claim 'it will hit one million'.



      Seems to me the only smart investment in crypto is to buy 1-2 units when they first launched and then hope for profit in the future. People who bought in at the 'high' are not investors - they are wannabe speculators...a/k/a fools.
      or buy $5.00 USD worth when new ones are launched when they are $0.001 usd a coin ..and twiddle your thumbs watching what happens over months or years ..it's a cheep ticket .

      I have adopted /adapted the definition of investment from Kevin O'Leary of sharktank. Being that an investment is something that provides income /cash flow. Buying strictly for the change in value is speculation. I personally add if you can increase the value it also qualifies as an investment .

      at this point cryptos are neither real currencies or with the above definition of investment.. they are not investments either . purly a speculative asset class .with the most 99 percent of people involved able to do to increase the value.. is to drive interest and get more people to buy .

      In the future this may change how far in the future is the question

      as we get further away from the 20 peak in time and value .. it is harder for the pro bitcoin people to convince new people to buy in . Maybe there can be another worldwide hack that locks criticle files and demands payment in bitcoin to unlock your important files ..like last year before the big run up
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      • Profile picture of the author posinfo1
        I think that newer crypto currencies that are a penny a coin or less give the small investor a chance of making a sizeable amount of money if the currency takes off. It would appear that there are a lot of different crypto coins (over 1000) and that picking a winner is probably a big ask.
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        • Profile picture of the author Odahh
          Originally Posted by posinfo1 View Post

          I think that newer crypto currencies that are a penny a coin or less give the small investor a chance of making a sizeable amount of money if the currency takes off. It would appear that there are a lot of different crypto coins (over 1000) and that picking a winner is probably a big ask.
          by winner ..a lot of people who "believe" in crypto ..talk like winning the crypto game is buying crypto now..selling it several years in the future and effortlessly becoming rich ..

          I may be wrong but that is the feel i get ..they are attempting to chose the ones that will survive and become viable currencies in the future . while the limited nature of most cryptos are what prevent them from being real wide scale currencies ..

          its like hey i have petfood.com invest in me and we will go public in and ipo ..or get bough for large money .. and we will al be rich who needs a business plan .. OR hey lets make money lending hundreds of thousands of dollars to people with no incom or no jobs to buy homes .. and bundle pieces of those loans together .. well more like being the people with no income no jobs takeing those loans and hopeing to get rich selling the home for twice as much in 2 years ..

          So i explain where my bias comes from about crypto believers ..
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    • Profile picture of the author posinfo1
      I agree that the time to get into BC was about 10 years ago when it was trading at less than a dollar a coin. To me the price although lower than it has been is still very high.
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  • Profile picture of the author Kay King
    and twiddle your thumbs watching what happens over months or years ..it's a cheep ticket .

    No need to twiddle thumbs - just go on about your life and check back every few years to see what's up.


    We visited a great aunt last week - she's in her 80's and her mind is sharp and focused and she's a hoot. We were talking about some old pinball machines she used to have in her 'party room'. She had sold them years ago but then started pulling out 'stuff'...


    A manual coin changer from generations ago - old bottles and blown glass banks....painted tins and signs and a bike from the 1950's in mint condition (with a banana seat and not a scratch on it)....silver certificates and gold coins and on and on. None of it expensive way back when - most of it quite valuable now.



    Today these items would be called 'investments' - Aunt Helen refers to them as 'stuff i liked and never got rid of'....
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    • Profile picture of the author Odahh
      Originally Posted by Kay King View Post

      No need to twiddle thumbs - just go on about your life and check back every few years to see what's up.


      We visited a great aunt last week - she's in her 80's and her mind is sharp and focused and she's a hoot. We were talking about some old pinball machines she used to have in her 'party room'. She had sold them years ago but then started pulling out 'stuff'...


      A manual coin changer from generations ago - old bottles and blown glass banks....painted tins and signs and a bike from the 1950's in mint condition (with a banana seat and not a scratch on it)....silver certificates and gold coins and on and on. None of it expensive way back when - most of it quite valuable now.



      Today these items would be called 'investments' - Aunt Helen refers to them as 'stuff i liked and never got rid of'....
      Though willing to be identified as crazy there is so much of this unaccounted for wealth in the country .. stuff that probably was junk for a time after it had it's useful stuff.. that again has value .. That is just not factored in to the wealth equations being used .

      but it is real.. it is stuff you can put your hands on and either brings back memories of people or allows people to tell stories and create memories of times gone by .. that words in a text book can't approach as vividly.
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    • Profile picture of the author Jeffery
      Originally Posted by Kay King View Post

      No need to twiddle thumbs - just go on about your life and check back every few years to see what's up.


      We visited a great aunt last week - she's in her 80's and her mind is sharp and focused and she's a hoot. We were talking about some old pinball machines she used to have in her 'party room'. She had sold them years ago but then started pulling out 'stuff'...


      A manual coin changer from generations ago - old bottles and blown glass banks....painted tins and signs and a bike from the 1950's in mint condition (with a banana seat and not a scratch on it)....silver certificates and gold coins and on and on. None of it expensive way back when - most of it quite valuable now.



      Today these items would be called 'investments' - Aunt Helen refers to them as 'stuff i liked and never got rid of'....

      Ironic to say the least. My aunt's name was Aunt Helen. We have so much in common.


      My aunt passed years ago. She was dirt poor growing up and married one of the wealthiest men in the U.S. Another story. Being from a poor background and suddenly finding herself with what seemed like the world at her beck-n-call (mansion and servants as an example) she never forgot where she came from and never threw anything away.


      I was too young to know any of that at the time. Over a few summers I spent time with mu aunt and uncle growing up. They taught me values. Work for what you get. Value everything.


      Many a summer day I would store stuff in an outside guest house for my aunt and learn fly fishing from my uncle. My aunt taught me the goodness to help the poor and my uncle taught me the poor must eat. We also spent many a day delivering stuff to the American Legion and delivering fish to soup kitchens.


      When my uncle passed he include me in his will - the fishing fly collection. When my aunt passed she left me acres of county land with some of the states best fishing lakes and rivers. Both are resting on that land today.
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  • Profile picture of the author Kay King
    there is so much of this unaccounted for wealth in the country .. stuff that probably was junk for a time after it had it's useful stuff
    Exactly - and when it was considered 'junk' or 'no longer useful' - 98% of people got rid of it...tossed it away, burned it in the trash heap, etc.

    I'm guessing on percentages (obviously) but I think my aunt was part of the 2% who tucked things away in the attic or basement till they were valuable again.
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    • Profile picture of the author Odahh
      Originally Posted by Kay King View Post

      Exactly - and when it was considered 'junk' or 'no longer useful' - 98% of people got rid of it...tossed it away, burned it in the trash heap, etc.

      I'm guessing on percentages (obviously) but I think my aunt was part of the 2% who tucked things away in the attic or basement till they were valuable again.
      Getting an understanding of why a lot of this stuff is valuable or way more valuable than when it was new .in many cases it from younger people or interior designers trying to give a room a unique look. So stuff that was originally a few dollars or pennies 40 or 50 years ago is worth hundred or thousands now .

      Now bringing this back to crypto . or currency or why so many people hate on fiat currency . and love crypto or gold.. is that they will look at the increase in value of these items . Then somehow try to completely mold it to the devaluation of the Us dollar . Leaving out all other factors . all do to inflation .

      So of course the answer is to have a limited currency . like a bitcoin or gold backed currency .

      for a crypto to be functionally useful as a real currency it can't have the potential to change in value hundreds or thousands of percent in days weeks or months needs to hold about the same value for long periods of time ..to be stable
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  • Profile picture of the author tagiscom
    Originally Posted by Kay King View Post

    Perhaps the most lasting impression of BC years from now will be the digital ink spent writing about it.

    From $0 to $20k to $3600 today....and there are still proponents who claim 'it will hit one million'.

    Seems to me the only smart investment in crypto is to buy 1-2 units when they first launched and then hope for profit in the future. People who bought in at the 'high' are not investors - they are wannabe speculators...a/k/a fools.
    I talked to my Mothers investment manager about that also, or people who buy high and sell when it is low, and l believe that the correct term is idiots.

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  • Profile picture of the author waitingforday
    Maybe, i think bitcoin will be a currency and ethereum will be a base for blockchain technology
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  • Profile picture of the author OptedIn
    Bitcoin fell as much as 7 percent on Friday, heading towards a recent one-year low in a broad-based selloff in cryptocurrencies.

    Just doing my bit to keep the dream alive. lol
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    • Profile picture of the author waitingforday
      Originally Posted by OptedIn View Post

      Bitcoin fell as much as 7 percent on Friday, heading towards a recent one-year low in a broad-based selloff in cryptocurrencies.

      Just doing my bit to keep the dream alive. lol
      Nothing new.
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      • Profile picture of the author OptedIn
        Originally Posted by waitingforday View Post

        Nothing new.
        I live to serve. It's a gift. Don't hate me because I'm beautiful. :-)
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        • Profile picture of the author whateverpedia
          Originally Posted by OptedIn View Post

          Don't hate me because I'm beautiful. :-)
          That isn't why we hate you.
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          • Profile picture of the author OptedIn
            Originally Posted by whateverpedia View Post

            That isn't why we hate you.
            As long as you have what you consider to be a good reason, I'm fine with that.
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  • Profile picture of the author ScottSoarpay
    If you want to invest in something, there's a fallacy that you "missed the right time" - so I'd say that you could absolutely still do that.

    As for currency of the internet? I don't know. Bitcoin will certainly be around... but the internet has already made it this far with traditional currencies, I don't see that as all of a sudden ending.
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  • Profile picture of the author Alex Blades
    " Is Bitcoin going to be the currency of the internet? "



    No
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    I live for myself and answer to nobody!
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