Is Bitcoin real money? Florida judge says no

a reply to: ScepticScot

You are so wrong. Its a new p2p decentralized currency which allows you to move money over boarders for almost no fees.
Now with smart contracts and proof of stake its evolving into a new economic movement.
In all this time since you last spouted inaccuracies about cryptocurrency haven't you done any research?
In Venezuela or Zimbabwe what is more better to own, btc or the native currency?

originally posted by: kwakakev
Sounds like a call made by a judge on the take, they do come up with some petty reasons at times. Bitcoin is an asset just like some notes of money, a lump of gold, property or anything else that is used to trade. Bitcoin is backed by its security algorithm, while that remain uncracked so will the value of bitcoin and the other emerging cryprocurriencies.

Crypto currency is only worth how much an individual will pay to own it. Ots doomed to failure because it has no practical use. For example gold has a purpose and is used in electronics as well as jewellery. This sets its value with a crypto currency there is no need that sets its value other than how much people are willing to spend real currency to acquire it. This is why it has become a money laundering scheme for drugs.

China has all ready started to crack down on this just a matter of time before transactions become illegal world wide. And it will be like hot potatoes as everyone tries to get out before its worthless. The other fear is people just get bored and don't see a value in it anymore as more and more crypto currencies hit the market. This will also make it worthless but i think the biggest threat is we are about to have our next technology breakthrough. Meaning you will see entire servers replaced and that means bitcoins just disappear overnight. For example google plans to replace its data centers within 5 years.

originally posted by: Slickinfinity
a reply to: ScepticScot

You are so wrong. Its a new p2p decentralized currency which allows you to move money over boarders for almost no fees.
Now with smart contracts and proof of stake its evolving into a new economic movement.
In all this time since you last spouted inaccuracies about cryptocurrency haven't you done any research?
In Venezuela or Zimbabwe what is more better to own, btc or the native currency?

Cool a zombie thread back from the dead.

Bitcoin offers no real advantages and many disadvantages over conventional currencies for the vast majority of transactions.

Wishful thinking by crypto fanboys won't change that.

a reply to: ScepticScot

I guess you just don't see the importance of a decentralized economy and are ok to just accept bankster shenanigans.
There's a lot of advantages to a person owning and using cryptocurrency.

I've saved hundreds it not at least a thousand dollars using it to travel instead of credit cards or debit. Ever use a cc overseas? The charges just to use your own money are robbery but btc and other cryptos are practically feeless and can go to any country and pass any border.
You might have the luxury of a bank account but a few billiin people don't and cryptocurrency allows them to become their own bankers.
Having a monetary system on a open source and immutable ledger is a more fair form of currency period.

originally posted by: Slickinfinity
a reply to: ScepticScot

I guess you just don't see the importance of a decentralized economy and are ok to just accept bankster shenanigans.
There's a lot of advantages to a person owning and using cryptocurrency.

I've saved hundreds it not at least a thousand dollars using it to travel instead of credit cards or debit. Ever use a cc overseas? The charges just to use your own money are robbery but btc and other cryptos are practically feeless and can go to any country and pass any border.
You might have the luxury of a bank account but a few billiin people don't and cryptocurrency allows them to become their own bankers.
Having a monetary system on a open source and immutable ledger is a more fair form of currency period.

Since virtually nowhere takes crypto offline I find it quite unlikely that most people would save using it instead of conventional currency abroad.

My bank charges 1.5% on transactions abroad. For that I get instant transactions, payment protection, lost card protection and my money is deposit insured exactly the same as when I use it at home. None of which apply to bitcoin.

I think that anyone who has access to internet, device to use it, access to facilities that accept it and money to buy it in the first place probably Can get a bank account.

Bitcoin is also far from fee free (and fees will rise as new coins become rarer) and suffers badly from exchange rate movements.

As I said further vast majority of transactions bitcoin has no advantages and many disadvantages over conventional payment methods.