Bitcoin's identity crisis

w1z4rd said:
You do know bitcoin is going to out survive you right?
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How do you know that?

What if they create a better Bitcoin.

Bitcoin is only top because it was the first.

You can't create a new gold or silver, but you can create a new Bitcoin.
 
Can someone please help me out here. I want to start buying bitcoin but I'm not sure...

Do I buy it and keep it or can I use it to pay for stuff? And if so, should I use it to transact or should I just save it up and hope it increases in value?
 
OutlawJoseyWales said:
How do you know that?
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I have a strong understanding of the technology fundamentals.

What if they create a better Bitcoin.
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They have already, many crypto are better than bitcoin. But a unit of exchange is a unit of exchange. Even if the price drops to 1c, it can still be used as a unit of exchange.

Bitcoin is only top because it was the first.
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Yes

You can't create a new gold or silver, but you can create a new Bitcoin.
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You cant EFT gold or silver to the other end the world in an instant transaction, and good luck travelling around the world trying to spend your units of exchange when its gold. Also, there is currently set to be a finite amount of bitcoin.... so if your point is scarcity = value, then yeah, bitcoin knows about this already.

Gold or silver is a unit of exchange. A pig can also be a unit of exchange. Just because you can grow more pigs doesnt make your current pig any less valuable.

You could always buy a gold backed crypto :)

Crypto is here to stay because its the first time humanity has got triple entry accounting right. No more of shady monopoly double entry accounting. This is why its going to stay. With trust, triple entry accounting > double entry accounting. Rules without rulers.
 
die_koos said:
Can someone please help me out here. I want to start buying bitcoin but I'm not sure...

Do I buy it and keep it or can I use it to pay for stuff? And if so, should I use it to transact or should I just save it up and hope it increases in value?
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Do you like gambling?
 
purrr said:
Like it produces nothing?
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Its a economical unit of exchange. I dont know what you expect from it. Push ups? My rands produce nothing unless I spend them either.

Also, you could always get Solana and get interest from that, it produces. But the point is kinda silly, so I dont think getting technical with an answer will help much.
 
OutlawJoseyWales said:
How do you know that?

What if they create a better Bitcoin.

Bitcoin is only top because it was the first.

You can't create a new gold or silver, but you can create a new Bitcoin.
Click to expand...
Of course you can create a new crypto. You don't understand what makes Bitcoin the most secure and best store of value in crypto.

To hack the Bitcoin ledger you'd control over 51% of the BTC network's computing power. Recent estimates are that the BTC network has more than 500,000 times the hashing power of the 500 most powerful supercomputers combined.

The physical energy cost of the BTC network is R50+ Million of power per hour. That combined with SHA-256 makes more expensive and harder to try and hack than almost anything on the planet.

You can't simply replicate that by creating a new BTC alternative. Hundreds of tried.
 
w1z4rd said:
Its a economical unit of exchange. I dont know what you expect from it. Push ups? My rands produce nothing unless I spend them either.

Also, you could always get Solana and get interest from that, it produces. But the point is kinda silly, so I dont think getting technical with an answer will help much.
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Sure buddy. Have fun spending it.
 
purrr said:
Sure buddy. Have fun spending it.
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Ive bought lots of stuff with it. I dont understand what you are talking about. Ive spent it on computers, VPNs, web hosting, servers, gaming services, etc. Ive never had a problem spending it or converting it.

Im in Vietnam at the moment, and I had to convert my rands to dong to be able to spend them. Currency conversion is real, no matter where in the world you go. Ive spent crypto on lots of things and converted it to whatever currency I need when I need it. So confused at your point.
 
die_koos said:
Can someone please help me out here. I want to start buying bitcoin but I'm not sure...

Do I buy it and keep it or can I use it to pay for stuff? And if so, should I use it to transact or should I just save it up and hope it increases in value?
Click to expand...
PM me for VALR referral and then jut buy small amounts monthly and stack sats / BTC.
 
Smiggles said:
PM me for VALR referral and then jut buy small amounts monthly and stack sats / BTC.
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Thanks... but what's the difference between VALR and Luno? I know I can pay with Bitcoin at Pick 'n Pay with Luno. Can I pay with VALR?
 
Astarion said:
Trust me bro! I’ve watched *every* Max Keizer video out there.
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I dont understand your reference.

Im sorry, Im just a tech guy. I dont watch the same things you watch.

You actually dont need to be technical to understand the value of this invention. You just gotta know the difference's between single entry accounting, double entry accounting and now with blockchain, triple entry accounting.

As I am sure you dont understand the differences, please read this, its good insight into what we have actually invented with blockchain

hackernoon.com

Why Everyone Missed the Most Important Invention in the Last 500 Years | HackerNoon

You’ve never heard of Yuji Ijiri. But back in 1989 he created something incredible.
hackernoon.com

You also dont need to trust me for ****. It just requires that you can read a full article (and hopefully understand it)
 
Oh god, another hahadida... Theyre the seagulls of mybb. Come in, **** on you, fly off without contributing fkall of value and then just laugh when you give a reasonable response. Ignore function wins this.

Dont waste energy on them.
 
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