US now has bitcoin exchange

[PokeChop in OR]

Lunar, from Coinbase.

Then Winklevoss twins to follow soon with Gemini.

Necessity the mother of invention as govts deal with debt via currency devaluation.

Thoughts?

 

[Inky29]

I get tired head thinking about bitcoins, I'm sure someone is going to find a way to get rich off bitcoins but it's not going to be me.

 

[squeak]

I love it.

Inky, people have already gotten rich off of Bitcoin.
Posted from Rivals Mobile

 

[Inky29]

I meant someone I know. I've heard some of the stories of folks gettting rich and then some of the crash stories. Just something I know nothing about.

 

[hollywood]

I've read a lot on the subject and to be honest, I can't decide if:

1. It's the greatest thing in the history of currency exchange; or

2. It's the greatest Ponzi scheme (con game) of all time.


However, the pessimistic side of me thinks it's more likely the latter than the former. Given that there's no actual collateral backing the currency, what happens if people just decide to no longer take it in exchange for services or products? Wouldn't that just leave lots of people holding a huge amount of the 21st Century version of S&H Green Stamps?

 

[squeak]

Wood are you talking about Bitcoin or the US dollar?
Posted from Rivals Mobile

 

[PokeChop in OR]

Govt currencies are not backed by anything physical anymore, but only by trust in the govt. Nixon got the US off the gold standard in 1971 when he declared we are all Keynesians now.

I think the real value of Bitcoin is the blockchain. But it is being treated as money by many, but could change.