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Message Subject Bitcoin carshing! mid 300s now and tumblin'
Poster Handle Anonymous Coward
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Wow, lots of posts in here that don't seem to have any understanding on how it works. Please research for yourself by looking up how bitcoin works, there's a great semi-technical youtube which explains the blockchain very well. Once you understand the tech behind it you'll change your mind because it's that fundamental.

The blockchain is an amazing thing (from a high level understanding). It's mechanics are a very crude simulation of how reality is created moment to moment (creation of reality is at a much much higher frequency). Each block requires agreement by those in it's universe just like reality. Once it's confirmed by enough other people it becomes real and then a little longer it becomes history which makes it much harder to change, just like reality.

The biggest problem with bitcoin is that it's very scarce and people are holding on to it to try and make huge bucks. Doge on the other hand is very abundant and is thrown around like handfuls of dirt. The difference is that Doge derives it's value from the interest people have in it and interest in wanting to use it, everyone likes to get and give.
 Quoting: Anonymous Coward 54346694


That might all be true, but the CASH, THE DOLLARS in bitcoin at the moment are not a relfection of people using it to buy thing.

The CASH AND DOLLARS in bitcoin at teh moment are mostly SPECULATORS, day traders, and pump and dumpers.

Not to mention the early adopters of whom many were also MINE_ HOLD _ SELL people.

I say to you that the majority of the bitcoins right now belong to speculators and early miners ( and there are a small number of people who own almost half of all bitcoins- proving my point)

WHen these guys run for the exits the price IN DOLLARS will go down to what it is worth as a medium of exchange ( if it survives the downward crash).

I'm thinking less that $10
 
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