Bitcoin was the best-performing currency of 2016

[ShootSpeeders]

Remember this about crypto-currencies. THERE IS NO BARRIER TO ENTRY. There are now HUNDREDS of bitcoin clones out there and yet we are told the supply of bitcoin is limited and it is not fiat money!!! Bitcoin is super-fiat money.

 

[ShootSpeeders]

Ask yourself why we need bitcoin. If you want non-fiat money, go back to the gold standard. Gold is rare and valuable. BTC is just software. Bitcoin is a giant scam.

 

[BuckToothMoron]

You people are idiots. Bitcoin is another fiat currency given to us by the bankers. It's backed by nothing... THINK

As opposed to the U.S. dollar which is backed by...corn stalks?

Not really a currency until it's accepted everywhere......and has an established value.....

It’s not a currency, it’s a payment system at best. It will never replace the US dollar because the US government will never accept as payment for the taxes you owe. I doubt any other government will ever accept it either, so in the end, BTC will always be exchanged for and delineated by dollars.

 

[Marion Morrison]

The best thing about bitcoin= Dogecoin.

^This encapsulates what it's all about.

 

[P@triot]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

 

[P@triot]

Ask yourself why we need bitcoin.

Because the people are tired of governments owning and manipulating currency. If you have to ask a question that elementary, then you really shouldn’t be in an economic forum and/or discussion Bitcoin.

 

[skye]

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

 

[P@triot]

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

Not at all skye. That’s the beauty of both America and a currency like Bitcoin. It’s all about liberty and free will (two things the Dumbocrats hate).

 

[skye]

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

Not at all skye. That’s the beauty of both America and a currency like Bitcoin. It’s all about liberty and free will (two things the Dumbocrats hate).

My gut tells me ....bitcoin not yet......ok?

But then of course

What do I know yet ?

I know nothing.

 

[Rexx Taylor]

i s

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

I saw bit coin as a new version of a ponzie scheme. hmm, and look at where we are now..

 

[skye]

i s

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

I saw bit coin as a new version of a ponzie scheme. hmm, and look at where we are now..

medicine you took it?

ok yes that's where we are at now

 

[P@triot]

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

Not at all skye. That’s the beauty of both America and a currency like Bitcoin. It’s all about liberty and free will (two things the Dumbocrats hate).

My gut tells me ....bitcoin not yet......ok? But then of course What do I know yet ? I know nothing.

For the record - I have yet to mine Bitcoin or invest in Bitcoin. I have my reasons. But I love any form of currency that isn’t controlled and can’t be manipulated by the government.

 

[P@triot]

I saw bit coin as a new version of a ponzie scheme. hmm, and look at where we are now..

That’s only possible as an investment in Bitcoin. It can’t be a Ponzi Scheme if you are mining for Bitcoin or using it for currency as their is no money “invested” by the person mining/using it.

 

[Rexx Taylor]

i s

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

I saw bit coin as a new version of a ponzie scheme. hmm, and look at where we are now..

medicine you took it?

ok yes that's where we are at now

i never believed what these so called experts said about investing in bitcoin a long time ago. i knew it would crash someday,,like mc hammers career

 

[Redfish]

Not on the Bitcoin train here

Nope...no

Sorry folks if I'm raining on your parade

Not at all skye. That’s the beauty of both America and a currency like Bitcoin. It’s all about liberty and free will (two things the Dumbocrats hate).

My gut tells me ....bitcoin not yet......ok? But then of course What do I know yet ? I know nothing.

For the record - I have yet to mine Bitcoin or invest in Bitcoin. I have my reasons. But I love any form of currency that isn’t controlled and can’t be manipulated by the government.

that's part of the problem with Bitcoin. Its not backed by anything or anyone. Its fake money. It will crash, watch.

 

[evenflow1969]

You people are idiots. Bitcoin is another fiat currency given to us by the bankers. You really think some anonymous jap created it?? HAHA. It's backed by nothing and the arbitrary rules limiting how many bitcoins can exist can be changed at any time. THINK

What exactly is the US dollar backed by? Nothing but trust in the US government. The fact that bit cion is continuly rising shows thatthose investors trust bitcoin more than the US dollar. That is a problem for the United States, look into what happens to our economy if the dollar loses it's prestige as the world currency standard. Scary fucken shit. That all being said Bitcoin is based on trust just like the US dollar. I personaly convert part of my savings each year into precious metals and take possesion of them so I do not pay storage fees and will also actually have it if the shit hits the fan.

 

[BuckToothMoron]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”. It could possible be considered a payment vehicle like PayPal by the relatively few merchants who accept it, because as soon as they receive it for payment the convert it to dollar bills, real money. You might want to look at what the widely accepted characteristics of currency are, then you’ll see why bitcoin clearly doesn’t qualify.

There are a variety of opinions on what constitutes a good currency. The following seem to be fairly universally agreed upon.

1. Generally Accepted - Many people must accept the money as a settlement of debt or as a discharge of obligation. BITCOIN NOT EVEN CLOSE
2. Durable - Its quality/value does not deteriorate over time, which is why we do not tend to use food products as money.
3. Divisible - If you divide the money in half, each half should be worth 50% of the whole. This is why we tend not to use diamonds or artwork as money.
4. Stable/Consistent - The value does not fluctuate substantially with time. WELL EVERYBODY KNOWS,BITCOIN ISNT STABLE
5. Transportable - It is easy to move from one place to another.
6. Scarce - It is difficult to acquire.
7. Easily recognizable - It needs to be obvious what it is, mostly for the purposes of #1.
8. Difficult to Counterfeit - This mostly has to do with #6.

 

[P@triot]

that's part of the problem with Bitcoin. Its not backed by anything or anyone. Its fake money. It will crash, watch.

Neither is the U.S. dollar. But that being said, it wouldn’t surprise me if Bitcoin crashed.

 

[P@triot]

You’re joking, right? Bitcoin is NOT a currency.

Um...you are kidding...right? Bitcoin is absolutely a currency. It is used to purchase good and services.

Wrong, so wrong. It is primarily bought and sold, or traded as a speculative “investment”.

Currency is not based on “primarily”. It is used to purchase good and services. It is absolutely a currency. Thanks for playing...

Bitcoin - Wikipedia
Wikipedia › wiki › Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system

 

[Redfish]

that's part of the problem with Bitcoin. Its not backed by anything or anyone. Its fake money. It will crash, watch.

Neither is the U.S. dollar. But that being said, it wouldn’t surprise me if Bitcoin crashed.

theoretically the US dollar is backed by the US government. It was certainly better when it was backed by gold or silver. Bitcoin is backed by nothing but internet air.