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Personal Finance and Investing

masmdu

(2,622 posts)

7. For many BTC is not used for transactions

Reply to doc03 (Original post)

Fri Jan 22, 2021, 10:27 PM

Jan 2021

It is seen as a store of value similar to gold. It has already increased 12× since March. ETH is a second generation BTC and is following a similar trajectory. And there is ADA which is third generation. It is still only pennies per coin like BTC was when it was first introduced. I have been buying ADA since it was .04 ¢.
The ATMs are to buy BTC not to use for purchase of goods so much as to use for purchase of other crypto currency like ETH and ADA.

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I have seen Bitcoin ATM machines lately. Can someone explain why I would [View all] doc03 Jan 2021 OP

seperate you from your actual money? nt msongs Jan 2021 #1

What I am seeing is another bubble like the 2000 .com bubble and the 2008 derivatives doc03 Jan 2021 #2

A nice convenient way to rid yourself of your money. 5X Jan 2021 #3

It's just another currency. Why exchange dollars for euro or pesos? unblock Jan 2021 #4

More privacy like money laundering and tax evasion? nt doc03 Jan 2021 #5

Possibly, but I think people make too much of that. unblock Jan 2021 #6

For many BTC is not used for transactions masmdu Jan 2021 #7

Apparently nobody is worrying about the enormous amount of electricity progree Jan 2021 #8

Not true with ADA as it is proof of "stake" masmdu Jan 2021 #9

I've seen videos of respectable older and prominent investors bucolic_frolic Jan 2021 #10

To get around sanctions, Iran embraced Bitcoin. Now with polluted skies and grid failures, progree Jan 2021 #11