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MrBayAreaHokie

Joined: 11/05/2005 Posts: 21888
Likes: 10764

What's this?

BTC is hard to understand, especially if you don't work in banking


I have worked in financial services for long enough to understand the benefit of a couple things.

1. A currency with no federal reserve. You have to understand that owning dollars is not great when you have new dollars created out of thin air. It's like owning shares in MSFT and they decide to create a bunch of new shares. You get diluted and your share price would go down, or the value of your dollars go down, hence BTC up.

2. The blockchain - I build payment systems on blockchain for a living and it is a killer to the establishment. I would be looking over my shoulder if I worked for Visa, FIS, Tsys, Fiserv, Amex, etc. The blockchain really competes with every core banking system and payment network as frankly, it is a much better architecture. Much better.

Back to point 1. There was a time when it was impossible to imagine the separation of church and state. Most people were living under a king who was telling them he was a deity and speaking against him was speaking against God. Try to wrap your head around that kind of existence.

Bitcoin is the separation of money control from the government. For better or worse that's what it is. There's no CEO of bitcoin to send to jail. It's incredible really.
[Post edited by MrBayAreaHokie at 05/12/2021 2:55PM]

(In response to this post by Technocrat)

Posted: 05/12/2021 at 2:30PM


+1

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Current Thread:
 
  Is bitcoin a scam? -- Technocrat 05/12/2021 1:17PM
  So I should cash in? ** -- UTPr0sim 05/12/2021 2:32PM
  BTC is hard to understand, especially if you don't work in banking -- MrBayAreaHokie 05/12/2021 2:30PM
  I guess if the internet as we know it was to implode then maybe but until -- HortHokie 05/12/2021 2:27PM
  I have a friend who made $11 million off bitcoin in the past year -- ScottsdaleHokie 05/12/2021 2:11PM
  Good stock pick for him -- fordham 05/12/2021 3:22PM
  Very easy if you got in early, and had the understanding of how to keep it -- Technocrat 05/12/2021 2:33PM
  The unknown answer is… what’s early? Will we all be saying that today was -- Hoakie82 05/12/2021 8:10PM
  I am investing for 10 years from now ** -- Technocrat 05/12/2021 8:35PM
  Which could mean today is even earlier. ** -- Hoakie82 05/12/2021 9:36PM
  Well- the main problem with it is it's competition is the GOVERNMENT -- bigbadbird 05/12/2021 1:55PM
  Its an opportunity- like Amway ** -- bigbadbird 05/12/2021 1:53PM
  If Harris said that (quoted) in 2018, I wonder how much he owns now. -- PhotoHokieNC 05/12/2021 1:31PM
  Counterpoint from Michael Saylor -- Coach McGuirk 05/12/2021 1:40PM

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