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People who want to panic sell and avoid MTGOX fucking your ass ruthlessly just PM me here on reddit. Ill buy for a massive undercut of course but youll get your cash now versus 5 hours from now. Dont even have to reply to this thread if you dont want to. Just let me know and we can deal once I figure out how cheaply I want bitcoins
Hey there, I wonder if we could have a discussion about the scenario if the Fiat monetary system we now live in collapses. There are a few things that I can’t wrap my head around.
If we face massive inflation, than prices of 100k-1m Dollar per Bitcoin would definitely be realistic, but since there is massive inflation the dollars wouldn’t have the buying power that they have today. So in my eyes there is no incentive to change back my Bitcoin into Dollars or any other fiat currency. This idea opposes all those Bitcoin investors who are trying to buy bitcoin cheap and sell it high, just to change it back into Fiat-Currency and buy all the stuff they want to buy when they made a quick buck due to the increased value of Bitcoin.
Assuming there is no incentive for anyone to change their Bitcoins back into Dollars or other national currencies than all the stuff humans desire should be able to be bought with bitcoin.
Due to the properties of bitcoin massive inflation isn’t possible. So investing into bitcoin today is more like reserving buying power in the scenario that the monetary system we live in collapses sometime in the future.
Following the thought of (2.) I definitely see some problems occurring with the Bitcoin Network due to scale ability and human psychology that paying for a bread with 0.000001 BTC just doesn’t feel intuitive.
Following the thought of (3.) If we’d change to a Bitcoin based monetary system with bitcoin as the underlying value, wouldn’t that make people who are already heavily invested in Bitcoin (I’m talking about thousands maybe millions of Bitcoin) incredibly powerful since their buying power would dwarf those of the richest people on the planet today? Isn’t it problematic if so much power is centralized on a few persons nobody even knows (Satoshi)?
Don’t get me wrong. I am hoping and deeply believing that the blockchain technology is going to change the world. Hopefully to a better, more equal and more efficient place, but I’m having my problems in believing that the first application of that ingenious technology is already the best thing we might hope for. I’m excited to hear about your thoughts and insights.
I knew about Bitcoin when the price was around $200 and I've been kicking myself in the butt for not buying it because I thought $200 is expensive. I wish in the future I can look back in history and consider $20K is cheap
Hey guys, I'm trying to send money to a friend using Bitcoin. It's a decent amount ($4,000 USD). It's not a scam or anything, he's a good friend of mine. We want to use BTC because he's in a different country right now. I normally use CashApp, but this is too much money for CashApp. With Coinbase, it seems like my money will get stuck for up to 5 days if I send them an ACH. Also, I don't want to get locked into a BTC rate, because I owe the money to my friend in USD. If Bitcoin price drops in between now and when I can actually withdraw the coins, then it's a frustrating expense. Are there any exchanges that allow me to fund with USD via ACH, and will allow me to withdraw $4,000 USD in BTC? Let me know. Cheers!
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I knew about Bitcoin when the price was around $200 and I've been kicking myself in the butt for not buying it because I thought $200 is expensive. I wish in the future I can look back in history and consider $20K is cheap (x-post from /r/Bitcoin)
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