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Callie1979

(949 posts)

40. Which is why its useless as actual currency.

Sun Oct 5, 2025, 02:36 PM

9 hrs ago

As of right now, there willl ALWAYS be a loser on one side of any transaction. The dollar loses value, but it changes very very slowly
Imagine buying anything for one BTC just 10 days ago.
YOU'D be the loser.
No one in their right mind would spend BTC to buy anything right now
I say this as a hold of BTC and a few other cryptos but I see them as trading items, not currency.

Oh, and I was told by a friend to "just put $1000 in it & see where it goes. You can afford that". Back when the price was around 40.00. But I couldn't grasp WTF a "crypto wallet" was so I passed.

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Bitcoin hits all-time high above $125,000 [View all] RandiFan1290 17 hrs ago OP

This is Krasnov's economic plan gab13by13 16 hrs ago #1

Bitcoin is a load of crap. LPBBEAR 15 hrs ago #2

Yeah, I don't get it either moose65 15 hrs ago #3

Anyone else on here remember the penny stock fad? llmart 12 hrs ago #16

Yep, unfortunately I do. Talitha 11 hrs ago #21

I am so sorry. llmart 10 hrs ago #33

Thanks for your thoughtfuless - no harm, no foul. Talitha 5 hrs ago #66

Greater Fool Theory, apparently. C_U_L8R 10 hrs ago #31

It is substituting computational hardware and energy consumption for Wealthy Bankers IbogaProject 8 hrs ago #51

As I used to say back when Bit coin was worth about $35,000, if you were selling your car Bengus81 15 hrs ago #4

And if you had taken payment in BTC, you would have an asset worth 400% more than you paid for it hueymahl 11 hrs ago #18

Which is why its useless as actual currency. Callie1979 9 hrs ago #40

There's going to be another Bankman Fried disaster in the future,doubtfull they'll be Bengus81 8 hrs ago #57

Totally agree - it is not a good currency right now hueymahl 5 hrs ago #64

I'd say you should always have a good supply of cash on hand. Callie1979 5 hrs ago #67

LOL...you assuming someone selling a $35K car has it paid off Bengus81 8 hrs ago #56

It's like using shells or any other token, as long as there is trust it works. The electricity/cryptography is trust Blues Heron 14 hrs ago #6

Except that bitcoin will NEVER be stable enough to be usable as an actual currency William Seger 13 hrs ago #12

All currencies are based on trust, whether it's the full faith and credit of whatever country, piles of gold, etc. Blues Heron 13 hrs ago #13

Two things you want from a currency: stability and universal acceptance William Seger 13 hrs ago #14

Depends on how you define stability hueymahl 11 hrs ago #20

I define stability as NOT being like this: William Seger 10 hrs ago #27

But what does a bitcoim actually have to KEEP that trust DonCoquixote 10 hrs ago #26

Why does any currency have value? hueymahl 9 hrs ago #41

And when the BTC algorithm gets cracked, what will you have then? Callie1979 9 hrs ago #43

that is a theoretical risk with quantum computers coming online hueymahl 9 hrs ago #47

So we're to trust an "asset" invented by someone no one knows, Callie1979 8 hrs ago #53

Strong cryptography that says those bitcoins belong to you, like your bank says those dollars are yours Blues Heron 4 hrs ago #68

But.... moose65 5 hrs ago #61

Your bank account is just a number on a ledger. The value is in the cryptography. Blues Heron 4 hrs ago #69

The danger... lonely bird 3 hrs ago #70

Finally another kindred sole on here! hueymahl 11 hrs ago #19

Of course, you want more DU members to "come around" William Seger 10 hrs ago #28

No, I want everyone to do well hueymahl 9 hrs ago #39

If you believe cryptocurrency is a good investment but real currency is not... William Seger 5 hrs ago #65

But it would also allow rogue governments like Russia & china to get away with MORE Callie1979 9 hrs ago #42

Banks are already adapting hueymahl 9 hrs ago #50

You forgot to mention a salient point: FakeNoose 11 hrs ago #23

No currency token is worth anything by itself. they are bits of plastic or paper or cheap alloys. Blues Heron 10 hrs ago #32

You just called gold useless & then described some of its uses. Callie1979 9 hrs ago #44

When was the last time you got a gold coin in your change? Blues Heron 9 hrs ago #49

"Coin" wasnt one of the uses. Industry uses a LOT of gold. Callie1979 8 hrs ago #52

As a token of exchange it is pretty useless to you or me, except as decoration. Blues Heron 8 hrs ago #54

Still Worthless VeryProgressive 14 hrs ago #5

It's like a giant slot machine. mdbl 14 hrs ago #7

It should have been drowned in it's infancy. Buddyzbuddy 14 hrs ago #8

I'd buy the "limited quantity" argument, if it were just Bitcoin. But new cryptocurrencies are being created all the progree 14 hrs ago #9

One repeated line I remember from the Pawn Stars show: William Seger 10 hrs ago #29

Yup, that too progree 9 hrs ago #35

This message was self-deleted by its author Emile 14 hrs ago #10

We allknow that someday some people will bluestarone 13 hrs ago #11

Gold is tapping $3900 too bucolic_frolic 13 hrs ago #15

Bitcoin is tulip mania with electrons. Until you dobleremolque 11 hrs ago #17

Coming soon hueymahl 11 hrs ago #22

I wonder ....... dobleremolque 9 hrs ago #34

I don't understand the point of your question hueymahl 9 hrs ago #38

Somethings not right with this economy. Gold and Crypto pinging in lockstep with the markets with high interest rates Cheezoholic 10 hrs ago #24

The common denominator is the dollar is being devalued hueymahl 9 hrs ago #45

The only way anyone would "lose everything" in '08 is if they SOLD. Callie1979 9 hrs ago #46

I was specifically comparing it to the tech bubble in the late 90's not the housing loan fiasco in '07 Cheezoholic 7 hrs ago #59

I personally think Bitcoin is a pyramid scam, Emile 10 hrs ago #25

Both. Callie1979 9 hrs ago #48

of course rampartd 10 hrs ago #30

The greater fool theory. lostincalifornia 9 hrs ago #36

Gonna be interesting when the BTC algorithm is cracked. Callie1979 9 hrs ago #37

It's open source Blues Heron 8 hrs ago #58

There's one born every minute orangecrush 8 hrs ago #55

i own some. a small amount moonshinegnomie 7 hrs ago #60

Wait for the Crash Deep State Witch 5 hrs ago #62

Trump loves this news. Gimpyknee 5 hrs ago #63