ramssuperbowl99 Posted November 30, 2017 Share Posted November 30, 2017 (edited) 5 minutes ago, incognito_man said: I'm not sure why real assets are a safety net. The U.S could in theory print off a quadrillion dollars a day rendering the value of fiat currency stored today worthless regardless of any buildings or land within our borders. Bitcoin is both scarce and theoretically immune to central control. They could, but they won't. You would have plenty of time to react to US hyperinflation. Bitcoin would theoretically be just as vulnerable to massive advances in computer processing speed. And I think it's far more likely that our computers get crazy fast than it is that we print way too much money. Edited November 30, 2017 by ramssuperbowl99 1 Quote Link to comment Share on other sites More sharing options...
Mossburg Posted November 30, 2017 Share Posted November 30, 2017 (edited) Everyone who comes in here asking if they should throw some bucks at this bitcoin thing should read this before they proceed. https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/ Edited November 30, 2017 by Mossburg Quote Link to comment Share on other sites More sharing options...
incognito_man Posted November 30, 2017 Share Posted November 30, 2017 1 hour ago, ramssuperbowl99 said: They could, but they won't. You would have plenty of time to react to US hyperinflation. Bitcoin would theoretically be just as vulnerable to massive advances in computer processing speed. And I think it's far more likely that our computers get crazy fast than it is that we print way too much money. Well, Bitcoin is a finite supply so that doesn't matter, really. Plus something like 80% is already in circulation. 1 Quote Link to comment Share on other sites More sharing options...
BayRaider Posted November 30, 2017 Author Share Posted November 30, 2017 Yes Bitcoin has a limited supply which should be how a currency works. The government printing new money all the time is ridiculous. 2 Quote Link to comment Share on other sites More sharing options...
Knowledge Posted November 30, 2017 Share Posted November 30, 2017 Honestly bitcoin isnt even limited. Theyre already talking about forking/splitting it Quote Link to comment Share on other sites More sharing options...
Mossburg Posted November 30, 2017 Share Posted November 30, 2017 Just now, Knowledge said: Honestly bitcoin isnt even limited. Theyre already talking about forking/splitting it It's already been forked into "Bitcoin Cash". Fork doesn't change the original bitcoin which still has a finite amount. Quote Link to comment Share on other sites More sharing options...
Knowledge Posted November 30, 2017 Share Posted November 30, 2017 Just now, Mossburg said: It's already been forked into "Bitcoin Cash". Fork doesn't change the original bitcoin which still has a finite amount. Arent they talking about splitting the actual coin though? Maybe I read that wrong somewhere Quote Link to comment Share on other sites More sharing options...
Mossburg Posted November 30, 2017 Share Posted November 30, 2017 Just now, Knowledge said: Arent they talking about splitting the actual coin though? Maybe I read that wrong somewhere The coin is already split into whatever amount you want to buy in dollars. There's no sense in splitting it. Quote Link to comment Share on other sites More sharing options...
BayRaider Posted November 30, 2017 Author Share Posted November 30, 2017 6 minutes ago, Knowledge said: Honestly bitcoin isnt even limited. Theyre already talking about forking/splitting it Those forks already happened. Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, and SegWit 2.0. The original Bitcoin will always be limited. Those things are not Bitcoin and should not be treated as such. Quote Link to comment Share on other sites More sharing options...
Knowledge Posted November 30, 2017 Share Posted November 30, 2017 1 minute ago, BayRaider said: Those forks already happened. Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, and SegWit 2.0. The original Bitcoin will always be limited. Those things are not Bitcoin and should not be treated as such. Yeah I must have misread the article. I was aware of the forks but thought they were talking about something different Quote Link to comment Share on other sites More sharing options...
Knowledge Posted November 30, 2017 Share Posted November 30, 2017 I read a recent article that said there may be something like 4 million bitcoin lost that will never be recovered Quote Link to comment Share on other sites More sharing options...
BayRaider Posted November 30, 2017 Author Share Posted November 30, 2017 (edited) 3 minutes ago, Knowledge said: I read a recent article that said there may be something like 4 million bitcoin lost that will never be recovered I don't know about that but the anonymous creator of Bitcoin is sitting on 1 million bitcoins and he will probably never resurface. That's about 4% of the supply that will never be in real circulation. Edited November 30, 2017 by BayRaider Quote Link to comment Share on other sites More sharing options...
Knowledge Posted November 30, 2017 Share Posted November 30, 2017 I wish I would have listened to Andreas Antonopoulos. Im a big Joe Rogan fan and listen to all his podcats. I remember the first time he came on. I didnt understand it at all. Dude was preaching so hard for people to get in on it. I think hes been on the podcast a total of 3 times and I still didnt buy any during those times Quote Link to comment Share on other sites More sharing options...
Mossburg Posted November 30, 2017 Share Posted November 30, 2017 (edited) ^You should do it now if you want and have a spare $100 (or whatever amount you can spare), then set up your own waller just to see how it works . It's worth for the learning experience IMO. Don't worry about the investing and get rich crap. Edited November 30, 2017 by Mossburg Quote Link to comment Share on other sites More sharing options...
Knowledge Posted December 1, 2017 Share Posted December 1, 2017 (edited) 3 hours ago, Mossburg said: ^You should do it now if you want and have a spare $100 (or whatever amount you can spare), then set up your own waller just to see how it works . It's worth for the learning experience IMO. Don't worry about the investing and get rich crap. I have $400 invested. I bought $100 each of BTC,ETH,LTC and then bought $100 more BTC and exchanged it for Cardano (ADA) on Bittrex. If BTC drops below 9k again I might pull the trigger and buy a whole coin. I dont want to be sitting here 10 years from now pissed when its 500k. I'd rather take the chance and lose 9k then feel that disappointment Edited December 1, 2017 by Knowledge Quote Link to comment Share on other sites More sharing options...
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