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Thread: Bitcoin and Ethereum market caps now the same as South Africa’s GDP

  1. #1

    Default Bitcoin and Ethereum market caps now the same as South Africa’s GDP


  2. #2

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    Interesting. Good thing South Africa's GDP is somehow backed by real assets.

  3. #3

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    “Most of these currencies mean nothing, and even the most famous one cannot buy you an ice cream,” he said.
    *swipes btc debit card and licks his ice-cream cone... shrugs*

    Some currencies have been hacked.
    Name one.
    Last edited by Temujin; 07-12-2017 at 12:10 PM.
    *suffering from thin privilege - hangs head in shame*

  4. #4
    Super Grandmaster
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    Quote Originally Posted by Temujin View Post
    *swipes btc debit card and licks his ice-cream cone... shrugs*



    Name one.
    Where did you get a BTC debit card?
    Quote Originally Posted by Cheri_N View Post
    Wanna shag Skootvreter? Oh God, before you answer that question... why Skootvreter?
    View the epicness here --->

  5. #5

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    Quote Originally Posted by Temujin View Post
    *swipes btc debit card and licks his ice-cream cone... shrugs*
    This is silly, no one accepts BTC for ice-cream, do they? Having a 3rd party convert BTC to ZAR is different to being able to use BTC to buy something.

  6. #6

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    Quote Originally Posted by Temujin View Post
    *swipes btc debit card and licks his ice-cream cone... shrugs*
    This is silly, no one accepts BTC for ice-cream, do they? Having a 3rd party convert BTC to ZAR is different to being able to use BTC to buy something.

  7. #7

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    Quote Originally Posted by /dev/null View Post
    Interesting. Good thing South Africa's GDP is somehow backed by real assets.
    Bitcoin is backed by crime, just like ZA :--)

  8. #8
    Super Grandmaster saor's Avatar
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    “Most of these currencies mean nothing, and even the most famous one cannot buy you an ice cream,” he said.
    No, but I can cash out btc right now and buy one. Kinda moot. Shops don't really accept gold for icecreams either.

    He said cryptocurrencies do not have scarcity as an underlying basis as splits happen quite often, and the number of coins double with every split.
    Bitcoin isn't the same as Bitcoincash or any other forked coin.
    A hard fork doesn't affect the total supply of Bitcoin and never will.

    This price action is ridiculous though and I wish it would pull back and develop at a more organic rate.

  9. #9

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    BTC is owned by China right now, just like ZA too. A bit of a coincidence.

  10. #10
    Super Grandmaster saor's Avatar
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    Quote Originally Posted by WAZAR View Post
    This is silly, no one accepts BTC for ice-cream, do they? Having a 3rd party convert BTC to ZAR is different to being able to use BTC to buy something.
    Bitcoin isn't really intended as a transactional currency, much like gold isn't. It functions better as a store of wealth. Some other blockchain & currency will need to step in to act like digital cash.

  11. #11

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    Quote Originally Posted by saor View Post
    Bitcoin isn't really intended as a transactional currency, much like gold isn't. It functions better as a store of wealth. Some other blockchain & currency will need to step in to act like digital cash.
    I think it was initially intended to be a transactional currency, but it could definitely become a store of value instead. Do you think the current coin fragmentation is good or bad?

  12. #12
    Super Grandmaster saor's Avatar
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    Quote Originally Posted by WAZAR View Post
    I think it was initially intended to be a transactional currency, but it could definitely become a store of value instead. Do you think the current coin fragmentation is good or bad?
    The forking? It's probably a necessary growing pain for something new like this. Ideally BTC wouldn't be forked at all, but with vested human interests it's inevitable that differing opinions will result in diverging paths. I don't know that the fragmentation can be avoided. It probably does lessen the perceived value it has.

  13. #13

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    Quote Originally Posted by Slootvreter View Post
    Where did you get a BTC debit card?
    Several available. If you're looking, get a https://www.tenx.tech/ they'll be supporting multiple cryptos
    *suffering from thin privilege - hangs head in shame*

  14. #14

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    Quote Originally Posted by saor View Post
    The forking? It's probably a necessary growing pain for something new like this. Ideally BTC wouldn't be forked at all, but with vested human interests it's inevitable that differing opinions will result in diverging paths. I don't know that the fragmentation can be avoided. It probably does lessen the perceived value it has.
    And the other hundreds of coins that aren't forks of BTC?

  15. #15

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    Quote Originally Posted by WAZAR View Post
    This is silly, no one accepts BTC for ice-cream, do they? Having a 3rd party convert BTC to ZAR is different to being able to use BTC to buy something.
    Well, thats not what he said did he? He said it can not buy an ice cream. It can and does. Anyway, if you're wanting to argue on who accepts btc, I haven't checked everywhere, but there are hundreds of places in SA(not even looking thousands/hundreads of thousands world wide) that accept btc, I'm sure there is one that sells ice cream


    But anyway, pretty much every statement he has made is wrong, he doesn't know how cryptos work or what they are
    Last edited by Temujin; 07-12-2017 at 12:36 PM.
    *suffering from thin privilege - hangs head in shame*

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