Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Bitcoin almost 50% off

Options
13»

Comments

  • Options
    #62
    mikeorange
    Site Banned Posts: 58 ✭✭mikeorange


    positron wrote: »
    Bitcoin exists because it hasn't become a threat to global currencies - mainly USD, Euro or RNB. When it does, it will be taken down one way or another. This has been my opinion since I decided not to buy bitcoin when it was around €10-€20 back many years ago... (of course I could write books about missed opportunities :( )

    Why can't it be an alternative?


  • Options
    #63
    positron
    Registered Users Posts: 6,284 ✭✭✭positron


    Because those who now have control over military, currency etc - cannot control it. Do you think they will give up without a fight?


  • Options
    #64
    touts
    Registered Users Posts: 6,437 ✭✭✭touts


    At some point in the past governments realized they couldn't stand in the way of this metal coin thing and decided to adopt the new technology and mint coins rather than just use barter. They centralized the rights to issue coins and all local coins became effectively worthless.

    At some point in the past governments realized they couldn't stand in the way of this paper thing and decided to adopt the new technology and print paper money rather than just use coins. They centralized the rights to issue banknotes and all local banknotes became effectively worthless.

    At some point in the very near future governments will realize they can't stand in the way of this blockchain thing and decide to adopt the new technology and issue cryptocurrency rather than just use old money. They will centralize the right to issue cryptocurrencies. When that happens the game is over. Demand for the unbacked unofficial cryptocurrencies will disappear and they will become effectively worthless.

    When will this happen? It has started already. China is banning the use of unofficial cryptocurrencies and has started to create their own. The central banks in Europe and the US are already warning people that the likes of Bitcoin will become worthless. Those warnings are so when it happens and people say "the government destroyed my wealth" the government can simply respond "We warned you". Before 2030 all major central banks will be issuing regulated cryptocurrencies. Bitcoin will be worth maybe 0.001% of what it is now by the end it the decade.


This discussion has been closed.
Advertisement