Login required to started new threads

Login required to post replies

Bitcoin Skeptics
Quote | Reply
Quote:
"Bitcoin acceptance is virtually zero and shrinking," Morgan Stanley stock analysts said in a July 12 report, "

source: https://www.cnbc.com/...circ=taboolainternal

Ouch. Everyone wants it, virtually no one accepts it.
Quote Reply
Re: Bitcoin Skeptics [racin_rusty] [ In reply to ]
Quote | Reply
When I explain to people what bitcoin is, the next question is almost *always* "What can you buy with it?".

It's a pretty short list. Speculators have driven up the price, and it won't stay there forever.
Quote Reply
Re: Bitcoin Skeptics [Durhamskier] [ In reply to ]
Quote | Reply
With it's lack of acceptance as a currency I'd say it's current real value is a lot closer to zero than the market is indicating.

ETA: https://99bitcoins.com/...tores-take-bitcoins/

Not a very long list.
Last edited by: racin_rusty: Aug 7, 17 6:50
Quote Reply
Re: Bitcoin Skeptics [racin_rusty] [ In reply to ]
Quote | Reply
There are quite a few small businesses here that accept bitcoin, according to decals they have posted on their doors/windows.

Long Chile was a silly place.
Quote Reply
Re: Bitcoin Skeptics [BCtriguy1] [ In reply to ]
Quote | Reply
BCtriguy1 wrote:
There are quite a few small businesses here that accept bitcoin, according to decals they have posted on their doors/windows.

Don't spoil rusty's thread, here. Let him have his bitcoin pity party.
Quote Reply
Re: Bitcoin Skeptics [trail] [ In reply to ]
Quote | Reply
trail wrote:
BCtriguy1 wrote:
There are quite a few small businesses here that accept bitcoin, according to decals they have posted on their doors/windows.


Don't spoil rusty's thread, here. Let him have his bitcoin pity party.

Well, in fairness, I kind of agree with him.

People are stock piling it on speculation right now. They're not going to spend their investment to buy groceries any more then someone would sell a share of google to do the same.

It will be interesting to see how these types of currency evolve over the next few years/decade though.

Long Chile was a silly place.
Quote Reply
Re: Bitcoin Skeptics [BCtriguy1] [ In reply to ]
Quote | Reply
No question there's a speculative bubble. And bitcoin itself is flawed (vs. ether, et al). I predict that these initial currencies will remain playthings of audit-the-fed-libertarians and geeks, but the underlying blockchain tech (which is genius), will remain. Maybe not even for "currency" but for other purposes.
Quote Reply
Re: Bitcoin Skeptics [trail] [ In reply to ]
Quote | Reply
Yeah, that's more or less how I see it as well.

There was a story on the radio recently about a local guy who hit the jackpot with bitcoin. Essentially he bought some and also purchased a bitcoin mining setup I think back in 2015 and just let it run in his basement, and forgot about it.

When bitcoin started making news again a few months ago he figured he would check in on it and see how he was doing. He is now $300k richer!

Long Chile was a silly place.
Quote Reply
Re: Bitcoin Skeptics [racin_rusty] [ In reply to ]
Quote | Reply
It's not well accepted as a *legitimate* form of currency. There are some marketplaces where it's widely used, but you won't be able to buy Subway sandwiches or limo service.

The current value of it baffles me. I understand what has driven the price up, but I can't understand why so many people are rushing into it lately.
Quote Reply