What's Your View on Bitcoin?

Digital Currency Information & General Chat
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TonyJ
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Country: Spain
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What's Your View on Bitcoin?

Postby TonyJ » 01 March 2017

In my opinion Bitcoin is a trap - because you need internet access to use this currency at all. People without that technology and without access to internet can't use Bitcoin at all. - it's a virtual currency, perfect for those who control technology.

As long as the currency is reliant on the infra structure that presently exists, (the internet, ATM's, exchange rates, and most importantly, a technological superstructure) how will a "Bitcoin" not be subjected to manipulations, by the very powerful entities that presently are manipulating the economy now? I feel even bitcoin will be co-opted somehow. When will we as a species ask the important question, ... What is money? And why do we let private entities control the world, create wars and cause so much human suffering, just for a few individuals to be able to live like GODS, while they continue to murder, and exploit the populations of the planet? When the Federal Reserve, and all other rackets like it, are finely exterminated, then, and only then, will we have a chance at a real representative currency.

Bullion Bud
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Joined: 16 August 2016
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Re: What's Your View on Bitcoin?

Postby Bullion Bud » 07 March 2017

Bitcoin is all about pros. Cons do not exist. Bitcoin is the future, it is like the bank of the internet. I have tried it out, it is liberating and it is awesome. All this negativity has been built around it due to the fact that it has been volatile lately, but that is speculation. Suppose a good company's stock becomes a hot commodity, of course people are gonna buy and sell and thus speculation would arise. Does it mean that the company is bad?

You should watch more Bitcoin documentary to get more insights into Bitcoin.

However, don't try Bitcoin mining because it once was affordable but now it is not. There are two constraints- electricity and difficulty. Electricity costs can be whopping with mining bitcoins and with each bitcoin mined, the difficulty level of mining is increasing rapidly. It is not worth your time in my opinion. Just buy and hold for long term.

You can buy Bitcoins through a bitcoin wallet. Coinbase is the biggest online bitcoin wallet provider.


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