The fallacy of this 21 million unit limitation is who enforces it? The Bitcoin Commission? Bitmain the miners equipment source? Self regulation of the market -- that's a good one.

Eventually, a world body may issue a cloned digital currency that is regulated and transportable across international borders. A globally recognized currency.

This may be the biggest beta ever and one that will be supplanted and fade into an obscure pirate and financial sanctioned person's method of exchange -- what will Bitcoin be worth then?

^^ digital currency that is regulated and transportable across international borders. A globally recognized currency. That is an idea whose time has come. This will facilitate world commerce and advance civilization. This is the good I see in all of this rather than short time profit in speculation.

If each national banking system issues its own digital currency that is just a more centrally controlled 'paperless' system.

If you are in Europe or Asia what the US FED does matters little to most people -- they have their own national or regional central banks that may do the same thing. Building walls (barriers) to free trade.

please read more about BTC and other cryptos and later post. 21 mln is just 21 mln, IT'S THE MATH. like 2+2=4. Principles of bitcoin lay in math and 21 mln is one of the rules of it. You just cant make more bitcoins.

As for "global recognized crypto" - well currently there are few dozens cryptos. Just some of them provide users total anonymity and privacy (BTC IS NOT one of them). What you are saying is the wet dream of every bankster, and every NWO agenda out there. Global currency without privacy, easily traceable and easily removable, "regulated" by some crooks in some governments - I'm sorry but only old farts can fell into it. The principles of most (if not all) cryptos are totally different and opposite.

please understand the rules of man v. the laws of nature^

what can i say - you refuse to understand how bitcoin works - and sometimes it makes no sense to keep trying to explain something to somebody who will not listen

no i am living in the right century and believe me that i know what i am talkig about because this is part of my professional skills.

what are yours that you talk so professional as paul markham who wants to explain me how economy works every day ?

bullshit - why do you think the governments of this world did not simply forbid bitcoin yet?because they WANT this inflation it will cause.

how do you think a country like USA can ever pay the depts back if not by making 20 trillion a monthly tax income? they are interested a lot that money loses value because they can pay back their depts because the deptzs are in US dollar, YEN and ?uro and not in bitcoin.

i think you do not know much about economy as most of the bitcoin believers (except some big speculators. and in their hands is it WHEN it will crash.

you seem to be bad informed. it is nothing sure because the bitcoin community is already seperated in different directions. it is either not sure that bitcoin will be permanently limited nor if there will be a second bitcoin ("bitcoin gold" is already in the discussion).

bitcoin and every other crypto currency have only one value and this is the believe of the users that you can change it in REAL MONEY. and if real money looses value bitcoin will automaticly loose too.
just go to a bank and ask them if they change your money in real currency and after that you can ask any government in the world if they will do it - you will be astonished that you have only a big bulk of data in your hand.

it does not matter how many US you get for a bitcoin at the end - it only matter how much you can buy with this equivalent of REAL money.

i think you should first study WHAT money is and than you would possibly understand what i mean.

exactly - at least one who understand how money works.

what bitcoin have done EVERYBODY can do.

we can print out own money as much as we want ans as long one give products or service for it all is fine.
but as soon when it comes to exchange into any other currency there have to be more as just a believe.

something similar is existing in switzeland since 40 or 50 years already and it is called WIR.
but behind WIR is an idea and a value and not just a believe and this is why it still works.

now please explain how "real" money is created, how it is backed, and who basically controls it...and why its better than bitcoin :1orglaugh:1orglaugh:1orglaugh
Im pretty sure that all central banks have your golden rule of not giving more money than products on mind, when they started to pump bilions of euros, dollars, yens, pounds and so on out of thin air, just to pump (only) the stock markets..(and other commodities too - like BTC for example) :1orglaugh:1orglaugh:1orglaugh:1orglaugh
also, not sure how you define "products" ? XIX century fabrics and steel ? Do you realize that huge portion of USA economy is "virtual" as its created by financial services and banks ?
and now take bitcoin (and most of other cryptos too) - pure MATH rules, no bullshit crooks, and LIMITED supply of 21 mln (BTC), that wont change. other crypto currencies - some of them have also limited supply (also defined by math = unbreakable and unchangable),and other some of them have even set limited (and desired) stable inflation rate...

BTC has the same "value" as "real" money, gold, diamonds and shit. You cant eat it, you cant live in it, you can't drive it, you can't drink it...
yet, when people will give value to lets say, gold, diamonds, paper notes of money and BTC - it suddenly has its "value". and this is what its all about.
talking about "producing" money because it shows how many products are created - dude, its not XIX century anymore. even not XX century. monetary system is going down, thats the last decades of it...you cant produce more and more credit endlessy and this is what is about in current economy...good luck if you call that "real" money.

hello mr xix century :1orglaugh:1orglaugh:1orglaugh

http://static2.businessinsider.com/i...itcoin-atm.jpg

well i studied that in university for many years and i have a master degree in enonomics science.
if it would be that easy to explain an amateur why he is completely wrong - i don´t know why it takes so many years to get the degree.

but you can believe what you want. it is everybody´s right to make his own mistakes.

i the music scene it is called: each one who can carry a guitar case goes on world tour.

you are witnessing the end of monetary system as we know, remember that. And I think that you are aware of that, if you only dont fool yourself. and its not because of the Bitcoin, cryptos, and math, but because of the crooks in banks and human nature. rise of the BTC and cryptos is exactly because of that.
Also to not confuse closed minds: on that ATM picture that I posted it says "BUY" and "SELL" bitcoin....so it just became another commodity, like gold, houses, "real" money, cars.... and it slowly begins to be parallel "real" money...just like "real" currencies...

also, do you realize that BTC producing and trading uses more energy per year than Ecuador uses ? :1orglaugh:1orglaugh:1orglaugh

that old song is 30 years old (1987)-- still waiting LMAO

if "end of the monetary system as we know" means "end of the world" for you, than good luck:winkwink::winkwink::winkwink:

No I live is a 1st word nation -- you don't.
I have money and I will do just fine. TY

:1orglaugh:1orglaugh:1orglaugh:1orglaugh:1orglaugh :1orglaugh

WHAAATTTT ???

buhahahah...

dude, what "who has bigger cock" does have in common with the Original Topic and bitcoin talk ?
also, not sure what you mean by "1st world nation" ??? like first in the world, or from top of the world ? Thats very subjective dude:1orglaugh:1orglaugh:1orglaugh

wherever you live, if you have money, you are fine. especially in USA lol...

Yeah, there's things about Bitcoin I don't understand, although Economics is not my strong point.

I mean, one bitcoin is worth $7k now and people are talking about it going up to $100k. But it was worth 1 cent only a few years ago, when thousands of people were talking it up online, including here.

So there must be thousands and thousands of 'Bitcoin millionaires' now. If it goes up to $100k, then thousands and thousands of Bitcoin billionaires. But this is just money out of thin air. It's all nominal value built on trust, above all the trust that other Bitcoin owners wont cash in and sell all of theirs. All this Bitcoin wealth if it was converted to real wealth would cause the value of Bitcoin to plummet to zero. So all the value of Bitcoin is truly virtual. Or to put it another way, one huge bubble that requires only a pinprick to burst.

were you under rock after 1971 ? and even most important - from 2008 ?
now think Verbal Kint, think, where the "value" of the modern money comes from :1orglaugh:1orglaugh:1orglaugh:1orglaugh

I suspect in a few years there will be another documentary like the Enron one about Bitcoin.

My only problem with this all is what is outlined here;

What Drives the Value of Crypto Currencies? – MetaStable

Currency's real value is utility and the goods that can be readily acquired with it. Buying and selling something endlessly is speculation.

The argument of anonymity of the source of funding is a joke. Wallet to wallet transactions might be anonymous.

Any real anonymity is an illusion


You are just kidding yourself with that red herring argument

This is why central banks are interested in blockchain ( just in case this is not already apparent to you ).

https://bravenewcoin.com/news/the-ke...ypto-currency/

The author contradicts or twists his own arguments to his own ends ... discounting the hype he is mostly correct.


However, for porn (adult explicit activities) digital currencies are ideal as they avoid all the VISA-Net bullshit and their member banks' bullshit.

An ICO with industry sponsorship and an API post and CGI postback make sense to me. You could probably achieve good market penetration in a few years with a low processing cost. Increased profit in a commoditized market along with anonymity from your bank, spouse, family ...

Micro payments would be possible and this would open new markets in lesser developed nations with less disposable income. Maybe 20% or 30% newly acquired revenue with micro payments.

Imagine the price once more establishments accept BTC

did you see meanwhile where your failure in the sytem is ???

no matter how much a cybercurrency is limited - the number of currencies is NOT limited as you hopefully see now. and THIS leads to an even bigger problem as real money.

Bitcoin will eventuall go to 0

it will never get to 100 000.
How many digits after the comma do you need if you want to make a 10 dollar payment using a bitcoing of 100 000$?
totally impractical.

Just like there's cents to dollars, there's mBTC to BTC. There's also (less formally) Satoshis.

If BTC was $100,000:

1 mBTC = $10
1 Satoshi = 1/10th of a cent

If any of us knew we would be genius's

^^

https://i.imgur.com/2Ivh6f7.jpg

One day, one day ...

agreed, most of the new cryptos are total shit. there should be no more than 10-15 cryptos IMO

I've purchased waffles with Bitcoin

I pay my bills, order my delivery foods, buy domains and withdraw cash with Bitcoin

some people here are not very smart, or lack learning, researching, or basic common senses.

No difference. There is no set limit to new nation states having their own currency, but some currencies convert with better exchange rates than others, when being traded for another currency.

Btw grouping all cryptos together as same, as this:
"no matter how much a cybercurrency is limited - the number of currencies is NOT limited"

is terribly falsified and extremely flawed theory. Tell me one payment processor that accepts any crypto? It's bitcoin, the only superior crypto that is worth any while (for most part, maybe handful few more)

For example, Namesilo accepts Bitcoin, bitcoin only, the crypto bitcoin that is limited to currently 16mil, eventually 21mil finite.

:1orglaugh:1orglaugh:1orglaugh

newegg permanently removed bitcoin as a form of payment because it was sooooo fucking convenient they could not stand it:

https://www.reddit.com/r/Bitcoin/com...in_as_payment/

https://media.giphy.com/media/oknVC23qeHEXe/giphy.gif

That's a 5 month old post about Newegg CA, as far as I know the US site still accepts it
https://promotions.newegg.com/nepro/16-6277/index.html

goes to show how stupid people can be

1min of research goes a long way cruciffiso, i just went to payment page for Newegg, and sure enough, still accepting bitcoin lol

https://i.imgur.com/vxxf8jD.jpg
edit, adding image..... :thumbsup

HAHAHAHAHAAHAHAHAHAHAHAHAHHAHA :1orglaugh:1orglaugh:1orglaugh

For haters trashing BTC's recent slump:There's a BTC buying opportunity lately. Buy in NOW before the next breakout level of 15K. All aboaaaaaaaaaaaaaaaaaaaaaaaaard the BTC TRAIN to 100K USD : 1 BTC