Bitcoin

[tr1ck5h07]

It’s actually based on distrust. I don’t trust you to monitor my transactions so I will monitor and track it.

That’s what all the “miners” do. Keep track of the blockchain and make sure there are no discrepancies.

The idea is since it’s decentralized, you would have to hack all the computers in the world to cheat the system.


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[buraot]

subscribing to this interesting thread...


question: may legit paying sites na alam kayo? how about bt clicks? legit ba? newbie sa cryptocurrency thanks..

[uls]

So it's all in the air? Paano ko mahahawakan yan pera?

Kung walang Central Authority mag bantay eh di It's all based on trust?


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yes bitcoin exists only in cyberspace

bitcoin was created precisely coz of distrust towards central authority

governments can freeze bank accounts

governments can limit how much money you can move out of the country

central banks can devalue currencies

since no single authority has control of bitcoin, it is out of reach of governments and central banks

[uls]

since many computers around the world verify bitcoin transactions, the problem with bitcoin transactions is that it takes time

and there's transaction cost

that's why it's not really viable as a currency

so far it's a store of value

like gold

[uls]

what makes bitcoin a great idea isn't really bitcoin itself but the tech underlying it

the distributed ledger, the blockchain

if let's say blockchain is applied to land titles, nobody can fake land titles

[tr1ck5h07]

With futures trading started this week in Chicago and Nasdaq next year, I don’t see BTC slowing down any time soon.


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[shadow]

yes bitcoin exists only in cyberspace

bitcoin was created precisely coz of distrust towards central authority

governments can freeze bank accounts

governments can limit how much money you can move out of the country

central banks can devalue currencies

since no single authority has control of bitcoin, it is out of reach of governments and central banks

Hinde ko pa rin maintindihan paano ko ma-monetized yan? Who will buy it from me? Para naman nagbebenta at bumibili ako ng hangin? I've read about it few years back Pero hinde ko talaga maintindihan.




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[shadow]

since many computers around the world verify bitcoin transactions, the problem with bitcoin transactions is that it takes time

and there's transaction cost

that's why it's not really viable as a currency

so far it's a store of value

like gold

So saan naka leverage ang value niya? Precious metals you know value is there and if you get your hands on them you can sell it anywhere since it's tangible. Eh bitcoin paano?

Saka kung walang Central Authority saan napupunta yun pera na binili mo ng bitcoin?

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[travajante]

Bitcoin Conspiracy - YouTube
....Is the end near????[emoji54]

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[uls]

bitcoin has a similar characteristic with gold -- scarcity

there will be only 21 million bitcoins

bitcoin's value comes from perception of value

when enough people think it has value then it has value

which is exactly what drove bitcoin's price surge

as bitcoin goes mainstream, more and more people want bitcoin

for now, it's a speculative asset

--

bitcoin's value comes from its convertibility to real money

it's an asset whose price keeps going up

it can be sold for capital gains

it's a speculative asset

--

where does your money go when you buy bitcoin?

it goes to the seller of the bitcoin

you bought, he cashed out

who will buy bitcoin from you?

anyone who wants to buy your bitcoin

you cash out, somebody buys

that all takes place on an exchange