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Bitcoin more likely to fall to $100 than $100,000

By Onvacation following x   2018 Mar 6, 7:31am 1,512 views   6 comments   watch   sfw   quote     share    


"Basically, if you take away the possibility of money laundering and tax evasion, its actual uses as a transaction vehicle are very small," the former chief economist of the International Monetary Fund (IMF) said.

https://www.cnbc.com/2018/03/05/bitcoin-more-likely-to-be-100-than-100000-in-10-years-kenneth-rogoff.html
1   Onvacation   ignore (4)   2018 Mar 6, 9:49am   ↑ like (0)   ↓ dislike (0)   quote   flag        

What is the advantage of bitcoin?
2   NuttBoxer   ignore (2)   2018 Mar 6, 11:21am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
Basically, if you take away the possibility of money laundering and tax evasion, its actual uses as a transaction vehicle are very small


This is a very narrow view, with no forethought to the tech's future use, or even it's most common current use, retail purchasing. Rakuten, a company that is very big in Japan, recently announced that they will be converting their Super Points program over to bitcoin.
3   APOCALYPSEFUCKisShostikovitch   ignore (34)   2018 Mar 6, 12:04pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

The uses of a virtual currency backed by mania that can lose all of its value in an instant for any reason or no reason are virtually infinite.
4   Onvacation   ignore (4)   2018 Mar 7, 7:14am   ↑ like (0)   ↓ dislike (0)   quote   flag        

NuttBoxer says

This is a very narrow view, with no forethought to the tech's future use, or even it's most common current use, retail purchasing.

Visa is and will Probably always be easier.
Blockchain technology does have uses.

Bitcoin is a pyramid scheme. Those that got in early and cash out before the end will make money. Everyone else will be holding worthless bits.
5   Strategist   ignore (3)   2018 Mar 7, 9:33pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
What is the advantage of bitcoin?


Money laundering, tax evasion, and illegal activities. No other use, which is why laws imposed by countries will destroy bitcoin.
6   WookieMan   ignore (0)   2018 Mar 7, 9:55pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Strategist says
No other use, which is why laws imposed by countries will destroy bitcoin.


This has always been the issue. No rational country will just stand by and let their currency go to shit. I've yet to see a counter argument.

Blockchain is usually the first stage of the argument. Fine, shared google sheets can now do what it was designed to do and what blockchain supposedly does, I guess. Reinvent the wheel much? Second stage... well not sure what else bitcoin is good for when it trades in the USA based on the VALUE of the $. Fact is, if I want a big beer in a bag, I ain't buying it with bitcoin. I'll use my SouthWest card and fly for free anytime I want to go on a trip. Bitty don't do that.




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