Home Forums Hunting & Shooting Hunter's Campfire Is Bitcoin the new gold?

I think this may prove to be a genie thats very hard to put back in the lamp....that's the hope for me anyway.

THE BUBBLE IS PRICED AT $52,000 + RIGHT NOW. SAY THAT OUT LOUD ! PUT SOME MONEY IN IT AND LET IT GROW FOR A WHILE AND SELL IT FOR A PRO PROFIT. DO YOU NOT LIKE MAKING MONEY ?? 2 OF MY INVESTOR GUYS SAY THAT BITCOIN WILL MAKE $100 k EASY THIS YEAR. Hi, TOOT . Ray

Yo, Ray!

Have enjoyed the education from you, Stickfight, xxclaro and others here.

When you see major banks going to this like they presently are,,,,,it’s kinda hard to bet against that flow direction.

No doubt that the perceptions and values will cycle over time.

Good thread.

Bitcoin exists only digitally, The entire record of which wallet has how much of it exists on the blockchain, something that is replicated across many many computers. It is this way because the blockchain is the ledger for every Bitcoin that was ever mined, and which wallet is was mined to, which wallet those were sent to, etc etc. It does this via cryptographic proof of each transaction.

The blockchain simply records that a transaction occurred between two wallets, and the sum of all transactions for a given wallet determines its BTC balance. So if a person sends BTC to a cold storage wallet the blockchain makes record of that. The only way to move them off is to for the wallet to sign a transaction with its private key to enable the blockchain to cryptographically prove the transaction valid. The "cold storage" is that private key going offline so that no one can move BTC off it.

There are no actual digital data that actually accumulate in a wallet. The only data a wallet ever has are its own private and public cryptographic keys.

There is a reason why only, gold is gold, and has been since antiquity.

Physics

Give you best gal a bitcoin to wear on third finger, left hand, see how that flies?

Something wrong with your cap locks button?

I'll wait for the crash which will happen. Then maybe I'll get in. I sure as Hell am not buying something that already went up 1,000% in a matter of months.

About 20% of Bitcoin value / wallets are locked for good ....due to lost passwords / email addys.

I invested in XRP-Ripple

Great value at .50 cents

How much is 1 Bitcoin worth when you lose your password?

Same amount your cash is worth when you loose your wallet.

I sold my XRP, will wait to see how the SEC lawsuit turns out. It has managed to hold on better than I expected though.

Do you have a preferred exchange for Hedera?

Except it's more like losing an entire bank account than just walking around money?

Bitcoin is no better than Paper Money and Paper Money is only worth something if People believe it is worth something. In reality it really is just Paper nothing more. Beliefs can be destroyed in less than a day. Same goes for Bitcoin it’s only value is belief.

I'm BY FAR no expert on the subject but I think there is some confusion in that you don't have to own a whole Bitcoin worth 50k plus. You can own really small fractions and essentially put in as many dollars worth as you want. So, like you probably would not walk around with $50k in your physical wallet, someone likely would not walk around toting a phone or whatever that stored whole bitcoins.

Only if you put all your eggs in one basket. Nothing stopping you from having multiple wallets, can have multiple cold wallets, couple hot wallets and even leave a bit on the exchange if you want.

Gold could become valueless as a trade item in one day if governments put enough penalty on its possession and use. The BANK could effect that scenario. And could send agents to kill whomever would defy the edict. Same with Bitcoin. Alternative to fiat currency will not be allowed when it comes down to the nut cutting. 1984 is here, 37 years behind schedule, but it is here.