Felix
-
Happy as hell
- Posts: 369
- Joined: Wed May 01, 2019 2:32 am
Re: Felix
Problem is blockchain technology is non-proprietory. You can only make money off the apps. So you’ve got to know what apps are going to take off. And I don’t think bitcoin is one of them. Bitcoin has no inherent value except as a means of exchange when good old cash and credit won’t do (i.e., illegal transactions). Right now, it’s just a bubble.
Re: Felix
The bubble is 3k? 6k? 9k? 20k? 14k? 10k? 14k? Which point is the bubble? Or you're just an, "its all going to ZERO!" guy?
I think you're wrong on the bitcoin point, we'll see down the road.
I believe there is an inherent value to a public payment processing system outside of anyones control besides a buyer and seller.
In the future your ebay transactions won't need paypal or credit card processors(fees). Your ebay transactions won't even need ebay (fees) because, for example, there will be a blockchain based auction system where funds are placed in escrow and released upon successful completion of the contract, i.e. confirmed delivery of goods. The cost on blockchain will be astronomically less.
Good credit card processing fees are approximately 2%. Paypal takes 4%, ebay takes up to 13%. Ebay will be Myspace (or more likely they will adapt and integrate). Cryptocurrencies can settle for fractions of a single percent.
That use case alone is huge.
I think you're wrong on the bitcoin point, we'll see down the road.
I believe there is an inherent value to a public payment processing system outside of anyones control besides a buyer and seller.
In the future your ebay transactions won't need paypal or credit card processors(fees). Your ebay transactions won't even need ebay (fees) because, for example, there will be a blockchain based auction system where funds are placed in escrow and released upon successful completion of the contract, i.e. confirmed delivery of goods. The cost on blockchain will be astronomically less.
Good credit card processing fees are approximately 2%. Paypal takes 4%, ebay takes up to 13%. Ebay will be Myspace (or more likely they will adapt and integrate). Cryptocurrencies can settle for fractions of a single percent.
That use case alone is huge.
-
Happy as hell
- Posts: 369
- Joined: Wed May 01, 2019 2:32 am
Re: Felix
Well, the price will have to be much more stable before it can replace current clearing and settlement institutions. How can you conduct everyday commerce with a medium whose value can fluctuate 20% in days or weeks?
Re: Felix
You can hold your money in a USD backed stable coin, buy BTC when you need it or plan to transfer it, nobody would have to hold their spending cash in bitcoin.
I think of it like having some savings in bitcoin- which i anticipate rising in price as opposed to sitting in a bank account earning % (I'll take my chances)- and keeping spending cash in something like Litecoin or XRP which may end up being the mediums of exchange, like a checking/debit account
Bitcoin would be the savings account, Litecoin your spending cash, for example.
No different than holding stocks on etrade and selling for cash to transfer except there's no need for any middlemen.
With crypto, my phone acts as a wallet, your phone acts as a wallet. Without anyones permission, not paypal, not visa, not mastercard, not my bank, not your bank giving you and i the ok, we could process a transaction and what was $100 on my phone 1 minute ago is now $100 on your phone. Even now you can move funds from your Coinbase account to Paypal instantly. Accessing funds is no longer a problem.
The crypto era is coming, it really just has to do with whether people want to buy the next Googles and Amazons before or after they become huge.
Obviously not all cryptos will succeed any more than all websites in the dot com era succeeded. Most of these will fail, but the Amazons and Googles are still just emerging in this market.
I think of it like having some savings in bitcoin- which i anticipate rising in price as opposed to sitting in a bank account earning % (I'll take my chances)- and keeping spending cash in something like Litecoin or XRP which may end up being the mediums of exchange, like a checking/debit account
Bitcoin would be the savings account, Litecoin your spending cash, for example.
No different than holding stocks on etrade and selling for cash to transfer except there's no need for any middlemen.
With crypto, my phone acts as a wallet, your phone acts as a wallet. Without anyones permission, not paypal, not visa, not mastercard, not my bank, not your bank giving you and i the ok, we could process a transaction and what was $100 on my phone 1 minute ago is now $100 on your phone. Even now you can move funds from your Coinbase account to Paypal instantly. Accessing funds is no longer a problem.
The crypto era is coming, it really just has to do with whether people want to buy the next Googles and Amazons before or after they become huge.
Obviously not all cryptos will succeed any more than all websites in the dot com era succeeded. Most of these will fail, but the Amazons and Googles are still just emerging in this market.
Re: Felix
And really the discussion at the moment is more like starting with bringing things like Western Union into the 21st century.
It shouldnt cost somebody $15 to send their family 200 bucks. That's a penny job and it's where XRP and other cryptocurrencies will start to improve peoples lives very soon.
It shouldnt cost somebody $15 to send their family 200 bucks. That's a penny job and it's where XRP and other cryptocurrencies will start to improve peoples lives very soon.
Re: Felix
Funny, it was you spouting off last time too. Like I said, I hoped to see if fall to $6000. Short term, the only thing that's good for me is lower prices so I can accumulate.bpj wrote: ↑Sat Jul 27, 2019 12:32 pmSuch a low IQ jab. It would be like saying Vogelbach sucks when he's in a 2 for 10 slump.Happy as hell wrote: ↑Sat Jul 27, 2019 12:16 pmWhat’s wrong WAR? All bitchy because your bitcoin is down $2500 from when you said everyone should buy it? Talk about dumbass. lol
The market cap of the entire crypto market is less than 1 US company and the space is the next dot-com type of technology currently with less than 1% worldwide user adoption. I'll be sure not to rub it in the next time it goes back up because thats just what i expect it to do. Up, down, up, down. In the end, there will be way more, way bigger ups than downs, imo.
I HOPE to see it fall to $6,000 again where I'll buy as much more as i possibly can.
If you're looking to get rich in a month, obviously forget it. If you're looking for something to buy now and check again in a couple years, yeah, I wholeheartedly recommend buying bitcoin at any price between 3k and 20k. I know I'll be buying more every opportunity i get, preferably buying on dips. Aside from a fund for trading altcoins I don't sell my bitcoin.
Blockchain is the next technology like email, internet, cell phones. If you're not interested that's cool, but 10 years from now you remember bpj tried to help you.
I dont feel any worse about the drop from 14 to 10k than i did from 20k to 3k.
I've been buying more whenever possible all the way back up. We'll see who's laughing last.
Long term, I'm confident that bitcoin will hit $100,000 before the Mariners win a World Series...
-
Happy as hell
- Posts: 369
- Joined: Wed May 01, 2019 2:32 am
-
BaseHitDerby
- Posts: 877
- Joined: Wed May 01, 2019 6:51 pm
Re: Felix
The Earth will explode before the Ms win the WS.Happy as hell wrote: ↑Sat Oct 19, 2019 4:12 amAlmost anything is possible before the Mariners win a WS. The Second Coming. The earth is invaded by aliens... I'll need a better time frame than that.