Any cryptocurrency users here?

[fuctfuct]

REDACTED

[marurun]

For me it's more about what authority supports the value of bitcoin? Economies and markets require rules and structures. Bitcoin is still not widely accepted and the value of it is still largely theoretical and not yet particularly practical for most users. Once it passes that threshold perhaps I'll be more convinced.

[fuctfuct]

REDACTED

[marurun]

I am really glad you are at a stage in your life that Bitcoin makes sense for your finances. I think that's awesome! It's clear you're enthusiastic about it and invested (not just monetarily). I wish you luck!

I just wanted to add that I looked at the white paper, but there are no references to any sources that aren't strictly technical. Also, it's not a peer-reviewed white paper and is effectively self-published. It's written by someone who is anonymous whose credentials cannot be examined. As a librarian, I would say that a white paper like that is pretty worthless as a research resource.

[fuctfuct]

REDACTED

[fuctfuct]

ReDaCtEd

[RCBH928]

@fuctfuct

You make a good arguement about us not knowing how fiat currency works and still use and trust it. I just assume some authority out there does and keeps thing in balance. I choose to trust it because not only the US dollar is good by the US gov. , its also valuable to the UK, Japan, India, Egypt, and everywhere else. If all those governments give it value then I too trust its balanced and has value. This is a reason for example I will not buy a currency like Bhutan's Ngultrum or Djiboutian Franc.

The thing I most not understand is Bitcoin price rise in an unheard of manner, unlike any other currency, and people still buy. Why they feel the need to buy something for $15K when it was $5k few years back? and so on. Something is fishy.

I recently heard that US printed 40% of all $ in history in the past year. I am seriously worried about inflation and yes, as you say, the value of any fiat currency could disappear just like Bitcoin and has happened in Zimbabwe, Lebanese lira, egyptian pounds, German Mark and others.

That investing in GPU is really interesting. I didn't know its was so profitable. So lets assume an Nvidia 2080 costs a $1000. By next year I will be covering my cost and make 10% return on my investment per month ? This has to be the most profitable investment ever. Is the price like guranteed at $100 or fluctuates with currency? No wonder people are building GPU farms. Think of it like $100M in GPUs , they will make $200M by next year. Is this why there aren't any GPUs on the market?

AMD and Nvidia must be very happy.

[fuctfuct]

REDACTED

[MrPopo]

I recently heard that US printed 40% of all $ in history in the past year. I am seriously worried about inflation and yes, as you say, the value of any fiat currency could disappear just like Bitcoin and has happened in Zimbabwe, Lebanese lira, egyptian pounds, German Mark and others.

Don't forget that printing is not the same as issuing. Paper currency is regularly destroyed and reprinted to keep the notes fresh (not to mention when bill revisions happen). The act of doing so does not change the amount of money in circulation, so it doesn't affect the inflation/deflation of the currency.

[marurun]

Hey fuct, any reason you totally stripped almost all your posts in this thread? Kinda leaves this thread looking pretty odd.