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/biz/ - Business & Finance

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5234238 No.5234238 [Reply] [Original]

1) Bitcoin is purchased using currency. Where does this currency go when bitcoin is purchased?
2) Unless everything I purchase today will cost $18300.00 "todays current value" bitcoin is useless to me and every other consumer for 99.99% of purchases. A cripto currency that can not be broken down into every day usable denominations like actual currency has NO mass market.
3) Bitcoin is the tulip bulb currency that when it crashes it will be nuclear.
Bitcoin should be used as a corporate currency for large dollar transactions between corporations.
Oh also lose your passcode or get hacked lose all your bitcoin. Pretty shakey our own government can't prevent hacking so how safe is your bitcoin.

>> No.5234300

>>5234238
What are economics?

>> No.5234326
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5234326

>>5234238
>1) Bitcoin is purchased using currency. Where does this currency go when bitcoin is purchased?

...to the person you bought it from?

>> No.5234432

>>5234238
>1) Bitcoin is purchased using currency. Where does this currency go when bitcoin is purchased?

To the person who sold it to you.

>2) Unless everything I purchase today will cost $18300.00 "todays current value" bitcoin is useless to me and every other consumer for 99.99% of purchases. A cripto currency that can not be broken down into every day usable denominations like actual currency has NO mass market.

Bitcoin is divisible you dummy, you don't need to buy/sell/trade in full bitcoins.

>3) Bitcoin is the tulip bulb currency that when it crashes it will be nuclear.

Yes it has no utility, and thus no underlying value. I can't wait for the 90% crash.

>> No.5234473

>>5234326
Bitcoin can only exist as long as there are fiat currencies. In a bitcoin-only world, with no more bitcoins issued, how does one pay or collect interest?

>> No.5234653

>>5234473
this dumb fucking nigger doesn't understand how blockchains work

fuck off, lurk moar newfag

>> No.5234721

>>5234473
>unironic 70s man namefag troll

>> No.5234767

>>5234653
To the outside world Bitcoin looks like a scam and a hive of scum and villainy (without the light sabers, insectoid bar band, and interesting monsters at the bar).

>> No.5234798

>>5234767
??????

>> No.5234861

>>5234473
Holy shit kys

>> No.5234866

>>5234767
>To the outside world we look like a cult but they'll realize their folly once the Reptillians arrive to take us back to their planet.

>> No.5234955

>>5234767
>>>r/bitcoin
You can make all the starwars analogies you want over there.