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Callie1979

(949 posts)

53. So we're to trust an "asset" invented by someone no one knows,

Sun Oct 5, 2025, 03:08 PM

12 hrs ago

someone no one can even prove existed, someone no one an find NOW, someone who is also the largest holder of the asset, who hasnt accessed the asset.
You dont find that odd at all?
Why would we need to wait on quantum computing? Anything man invented man can crack. And if it IS cracked, all of our BTC assets are at risk of either being stolen or devalued by adding more to the system. 21 million now, 21 billion tomorrow!

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Bitcoin hits all-time high above $125,000 [View all] RandiFan1290 20 hrs ago OP

This is Krasnov's economic plan gab13by13 20 hrs ago #1

Bitcoin is a load of crap. LPBBEAR 19 hrs ago #2

Yeah, I don't get it either moose65 18 hrs ago #3

Anyone else on here remember the penny stock fad? llmart 15 hrs ago #16

Yep, unfortunately I do. Talitha 14 hrs ago #21

I am so sorry. llmart 13 hrs ago #33

Thanks for your thoughtfuless - no harm, no foul. Talitha 8 hrs ago #66

Greater Fool Theory, apparently. C_U_L8R 13 hrs ago #31

It is substituting computational hardware and energy consumption for Wealthy Bankers IbogaProject 12 hrs ago #51

As I used to say back when Bit coin was worth about $35,000, if you were selling your car Bengus81 18 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 14 hrs ago #18

Which is why its useless as actual currency. Callie1979 12 hrs ago #40

There's going to be another Bankman Fried disaster in the future,doubtfull they'll be Bengus81 11 hrs ago #57

Totally agree - it is not a good currency right now hueymahl 8 hrs ago #64

I'd say you should always have a good supply of cash on hand. Callie1979 8 hrs ago #67

LOL...you assuming someone selling a $35K car has it paid off Bengus81 11 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 17 hrs ago #6

Except that bitcoin will NEVER be stable enough to be usable as an actual currency William Seger 16 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 16 hrs ago #13

Two things you want from a currency: stability and universal acceptance William Seger 16 hrs ago #14

Depends on how you define stability hueymahl 14 hrs ago #20

I define stability as NOT being like this: William Seger 13 hrs ago #27

But what does a bitcoim actually have to KEEP that trust DonCoquixote 14 hrs ago #26

Why does any currency have value? hueymahl 12 hrs ago #41

And when the BTC algorithm gets cracked, what will you have then? Callie1979 12 hrs ago #43

that is a theoretical risk with quantum computers coming online hueymahl 12 hrs ago #47

So we're to trust an "asset" invented by someone no one knows, Callie1979 12 hrs ago #53

Strong cryptography that says those bitcoins belong to you, like your bank says those dollars are yours Blues Heron 7 hrs ago #68

But.... moose65 9 hrs ago #61

Your bank account is just a number on a ledger. The value is in the cryptography. Blues Heron 7 hrs ago #69

The danger... lonely bird 6 hrs ago #70

Finally another kindred sole on here! hueymahl 14 hrs ago #19

Of course, you want more DU members to "come around" William Seger 13 hrs ago #28

No, I want everyone to do well hueymahl 12 hrs ago #39

If you believe cryptocurrency is a good investment but real currency is not... William Seger 8 hrs ago #65

But it would also allow rogue governments like Russia & china to get away with MORE Callie1979 12 hrs ago #42

Banks are already adapting hueymahl 12 hrs ago #50

You forgot to mention a salient point: FakeNoose 14 hrs ago #23

No currency token is worth anything by itself. they are bits of plastic or paper or cheap alloys. Blues Heron 13 hrs ago #32

You just called gold useless & then described some of its uses. Callie1979 12 hrs ago #44

When was the last time you got a gold coin in your change? Blues Heron 12 hrs ago #49

"Coin" wasnt one of the uses. Industry uses a LOT of gold. Callie1979 12 hrs ago #52

As a token of exchange it is pretty useless to you or me, except as decoration. Blues Heron 11 hrs ago #54

Still Worthless VeryProgressive 18 hrs ago #5

It's like a giant slot machine. mdbl 17 hrs ago #7

It should have been drowned in it's infancy. Buddyzbuddy 17 hrs ago #8

I'd buy the "limited quantity" argument, if it were just Bitcoin. But new cryptocurrencies are being created all the progree 17 hrs ago #9

One repeated line I remember from the Pawn Stars show: William Seger 13 hrs ago #29

Yup, that too progree 13 hrs ago #35

This message was self-deleted by its author Emile 17 hrs ago #10

We allknow that someday some people will bluestarone 17 hrs ago #11

Gold is tapping $3900 too bucolic_frolic 16 hrs ago #15

Bitcoin is tulip mania with electrons. Until you dobleremolque 15 hrs ago #17

Coming soon hueymahl 14 hrs ago #22

I wonder ....... dobleremolque 13 hrs ago #34

I don't understand the point of your question hueymahl 12 hrs ago #38

Somethings not right with this economy. Gold and Crypto pinging in lockstep with the markets with high interest rates Cheezoholic 14 hrs ago #24

The common denominator is the dollar is being devalued hueymahl 12 hrs ago #45

The only way anyone would "lose everything" in '08 is if they SOLD. Callie1979 12 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 10 hrs ago #59

I personally think Bitcoin is a pyramid scam, Emile 14 hrs ago #25

Both. Callie1979 12 hrs ago #48

of course rampartd 13 hrs ago #30

The greater fool theory. lostincalifornia 12 hrs ago #36

Gonna be interesting when the BTC algorithm is cracked. Callie1979 12 hrs ago #37

It's open source Blues Heron 11 hrs ago #58

There's one born every minute orangecrush 11 hrs ago #55

i own some. a small amount moonshinegnomie 10 hrs ago #60

Wait for the Crash Deep State Witch 9 hrs ago #62

Trump loves this news. Gimpyknee 8 hrs ago #63