There are 4,000 Bitcoin Atms now and growing in numbers everyday. got coinmap.org and I'm sure you can find one close to you. More importantly a simple software upgrade could be done make every ATM a bitcoin Atm and ATM associations are looking at just that right now. https://coinidol.com/atm-manufacturers-turn-to-bitcoin/
Nice vid man!
I would have to say bitcoins aren't much better than fiat currency...we need commodity based banking. Currencies of real assets...silver, gold, land, real estate, and food are great examples to back a currency. Confidence based currency is a scam in itself
bitcoin the dollar and gold all have a sort of built in value. A value can be derived by the cost and capital used to produce the currency. Bitcoin's and gold's money supply increases faster due to demand(higher price) and lower cost. the dollars supply is not determined by market forces(capital, production cost).
here is my problem, I want to jump in this boat , I like the hole concept of the bitcoin. that being said , Mr. Rick Asked a VERY important question WHO CAN WE CALL IF something goes wrong with our BitCoin account, Like say one morning you wake and your Bitcoin account Disappears. I admire Mr. Jeff Berwick and I listen to what he talks about, but when asked that important question he did give a direct answer so maybe I missed something [3:40] watch it again. So who can we call?
You keep using that word. I do not think it means what you think it means
you can make things with gold!!! it is in all sorts of electronic just to name a few for example cell phones, computers, mars rovers. that is "instrinsic value". what can you do with a dollar. spend it, make a paper plane, burn it, and wipe your ass. so you tell me which one has no "instrinsic value"
My oh my, a little angry aren't we? No, my "shit talk" is based on facts , common sense, and history hence this is why you have no other argument other than to have a childish response with no logic behind it. Your reponse is based on emotion and you don't like it when somebody challenges you on it. Remember the "Golden Rule".
That is not correct. Gold has intrinsic value that goes beyond the current topic as a 'money' alone. Gold has value both physically and subjectively. Physically it has practical use and value in industry, electronics, and jewelry. Subjective and aesthetically to many for its look and use such as, again, in jewelry and in various other objects.
The dollar? Maybe as wall paper but NOT as a store of any 'value'. Bitcoin ultimately also fails because of its non-physical uselessness.
Gold has plenty of intrinsic value. It took much labor and energy to mine it and purify it. It has multitudes of industrial uses, as well as ornamental. It is an ideal money for local barter. I am not sure how you can say that gold doesn't have any intrinsic value?
Who the fuck cares! When you talk about objective value, Gold has very little value. It has value because everyone has agreed that it's valuable. Bitcoin is going up and down fast because it's value is very small at the moment.
It's very rare, and it's becoming increasingly rarer as more and more people search for it.
The supply of bitcoins isn't controlled by one central entity, it's controlled by everyone. Or to put it better, it's controlled constantly and actively by the majority of it's users. It's truly decentralized.
Tho Gold does have thousands of years of being a means of exchange and a stable valuation. Bitcoin has only been around for a few years. There's reckless speculation going on in Bitcoin at the moment, I mean it's up 30% alone today!!!? Google pump/dump. I do think bitcoin is a fantastic means of exchange, but it's going to dump hard as soon as the slightest drop occurs.
Bitcoin is up 30% today alone. People are speculating like mad in it. The growth in bitcoin depends on new users and new money. While I do like the idea of bitcoin and I think it will grow into the future, the current bubble/frenzy is only going to end badly. I said it's a pyramid scheme because the early investors/miners got the richest. This relies on more investment/money to give them their returns and this continues until there isn't more money and it crashes below $10 for a guess. Panic!
Apparently you have not heard of the Golden Rule.A twenty dollar gold piece has reatained value and purchasing power.The price is of that twenty dollar gold piece is now 1600 dollars.You can't get that kind of value with a twenty dollar bill. Paper currencies eventually reach zero.Gold will never be zero.To quote Thomas Jefferson,"Paper is the ghost of money and not money istelf." There is no comparison my friend. But hey, if illusion is your game then by all means go for it.
Last time I checked if currency stops working all the power plants do not shut off. This is not a nuclear blast or EMP it's hyperinflation and the currency continues to be exchanged for goods until a new method of exchange is used.
The free market didn't create bitcoin, Satoshi Nakamoto created bitcoin. Bitcoin operates free of state regulation, and within a freely competitive open source framework, but to incoherently spout "the free market" four times a sentence like a trained chimp, and then end the interview by plugging your site instead of answering the question makes you sound like a libertarian asshat. And I'm a libertarian.
At this point, Bitcoin is better than gold: it's rare, it's hard to acquire, it's limited in supply, it's backed up by hardware and electricity, it's divisible in very small amounts, it can't be falsified, it's not physical, it can't be stolen, it doesn't need to be stored, you can take it anywhere with you by simply memorizing the private key, it can't be confiscated by the government (which has happened with gold).
prove it's a con. I agree it has no intrinsic value, so does a dollar backed by gold and silver. Any currency backed by gold and silver is a SCAM because they (government and banks) will remove the backing.
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