Winklevoss Twins on Bitcoin

[enochsea7]

Winklevoss Twins on Bitcoin vs GOLD

Saw an interview recently where the Winklevoss twins, the first "Bitcoin billionaires", said that GOLD "had a great 3000 year run" but that now Bitcoin would be replacing it.

What are your thoughts?

 

[1320]

Probably not in my lifetime but I must agree, the argument has merit. It's kinda hard on the ears to hear it from the Winklevoss' since they have a huge stake in Bitcoin. And one could easily insert "crypto" in place of the word Bitcoin, Bitcoin (the technology) according to some is already a dinosaur.

 

[Tpmetal]

I threw some cash into xrp just to see what happens. I also heard bitcoin was on its way out, too slow and outdated already. Anyone on here into that crypto currency thing?

 

[1320]

I threw some cash into xrp just to see what happens. I also heard bitcoin was on its way out, too slow and outdated already. Anyone on here into that crypto currency thing?

What exchange do you use for Xrp? I've been trying to get approved at several that offer it and XLM, no luck so far, been nearly a month waiting for verification. I have BTC, BCH, ETH and LTC, small positions. Huge pucker factor the past two days but the recovery has already started.

 

[Jason in Enid]

crypto currencies are the way of the future.... until a massive sunflare or terrorist attack craters our electrical grid and knocks comm satellites out of orbit. digital currencies would become worthless overnight.

 

[rotty23]

I just made 10k in 6 weeks on bitcoin but when the futures market stuck their noses in in the game I got out....I think the millionaire whales are manipulating the market to their benefit and screwing the little guys...If you have seen what has been going on for the last few days you will know what I mean...If you are still invested in crypto I wish you good luck.

 

[etex]

The IRS will want their share

 

[rotty23]

The IRS will want their share

Of course they will but after tax I figure about 8k

 

[1320]

crypto currencies are the way of the future.... until a massive sunflare or terrorist attack craters our electrical grid and knocks comm satellites out of orbit. digital currencies would become worthless overnight.

They would only be worthless until power is restored....

 

[TDogger]

I just made 10k in 6 weeks on bitcoin but when the futures market stuck their noses in in the game I got out....I think the millionaire whales are manipulating the market to their benefit and screwing the little guys...If you have seen what has been going on for the last few days you will know what I mean...If you are still invested in crypto I wish you good luck.

No one makes money with bitcoins unless you sell them and have the cash in hand. If you know when to buy and sell, you can make a killing, but I just do not trust anything that has absolutely zero intrinsic value.

If SHTF and the Internet goes down, bitcoins are worth bumpkis.

 

[Tpmetal]

No one makes money with bitcoins unless you sell them and have the cash in hand. If you know when to buy and sell, you can make a killing, but I just do not trust anything that has absolutely zero intrinsic value.

If SHTF and the Internet goes down, bitcoins are worth bumpkis.

Thats why im interested in xrp..... it seems to be moving into a market that has actual value. only time will tell

 

[1320]

You guys keep talking yourselves out of crypto....these doomsday scenarios are ridiculous. And to be honest, if your work check is direct deposited to your bank and you use a debit card for transactions you are playing with digital money right?! If the power grid goes down, your debit card has zero value until the power comes back on...right?! If the power is down, you won't be able to go into the bank and make a withdrawal for cash right?! And who are you going to do business with using gold and silver coins? How will businesses make change for your $20 gold piece for a $5 Happy Meal...gold and silver coins, bullion? How are you going to buy and sell with individuals using gold and silver when only a handful of the world population stack gold and silver in preparation for a doomsday scenario?

If the power grid goes down for any length of time, it will be every man for himself, money will likely be the least of our problems. Food, Water, Shelter, Safety. After the looting is complete, a trip to the local grocery store won't do you much good. I'd suggest stacking food, a gun or two and lots of ammo...lol

 

[1320]

No one makes money with bitcoins unless you sell them and have the cash in hand. If you know when to buy and sell, you can make a killing, but I just do not trust anything that has absolutely zero intrinsic value.

If SHTF and the Internet goes down, bitcoins are worth bumpkis.

The intrinsic value lies within the blockchain technology, not the coin itself.

 

[Jason in Enid]

You guys keep talking yourselves out of crypto....these doomsday scenarios are ridiculous. And to be honest, if your work check is direct deposited to your bank and you use a debit card for transactions you are playing with digital money right?! If the power grid goes down, your debit card has zero value until the power comes back on...right?! If the power is down, you won't be able to go into the bank and make a withdrawal for cash right?! And who are you going to do business with using gold and silver coins? How will businesses make change for your $20 gold piece for a $5 Happy Meal...gold and silver coins, bullion? How are you going to buy and sell with individuals using gold and silver when only a handful of the world population stack gold and silver in preparation for a doomsday scenario?

If the power grid goes down for any length of time, it will be every man for himself, money will likely be the least of our problems. Food, Water, Shelter, Safety. After the looting is complete, a trip to the local grocery store won't do you much good. I'd suggest stacking food, a gun or two and lots of ammo...lol

exactly, which is why you need to keep a percentage of hard cash on hand at all times. water, food, fuel, guns, ammo, & alcohol.

But nobody is saying a grid failure is the end of civilization. Look at puerto rico. 90% of the island lost power, half of it is still without power. People are still living. But if you have a national grid failure it could be months to years before its restored. Yes your crypto will still be there when the lights come back, but at what value? If lots of people decide, "screw this crypto money" its value will crater immediately so most would still be without all that money put into it.

Just because you get a direct deposit paycheck NOW doesnt mean the boss cant pay workers in cash next week. Companoes go to digital transfers because its easier and easier to track and make sure nobody's skimming extra for themselves, it doesnt mean we coudl never go back to cash

 

[Keppy]

I guess i am just to old .. I WILL stick with , Gold & , Silver..

 

[Johnnybravo300]

Blockchain is a worthless power sucking ponzi scheme and our grid could never support it in wide use.
There will be much better cryptos to emerge that will have real value but no, a computer program will never replace physical gold or silver.

There are many merchants out there that will happily trade gold or silver for their goods. I've done it plenty of times, and I've sold things for gold too.

The value of cryptos only comes from the people buying in and the value the market gives it at this time. It's a speculative investment same as the stock market. They were worthless after the hurricane but gold and silver could still be used and people could cash in.
If you trust your wealth to be safe in a digital world, good luck.
Would I need a happy meal when shtf and would McDonald's be open? Could I pull a bitcoin out of my pocket and pay them?

 

[1320]

exactly, which is why you need to keep a percentage of hard cash on hand at all times. water, food, fuel, guns, ammo, & alcohol.

But nobody is saying a grid failure is the end of civilization. Look at puerto rico. 90% of the island lost power, half of it is still without power. People are still living. But if you have a national grid failure it could be months to years before its restored. Yes your crypto will still be there when the lights come back, but at what value? If lots of people decide, "screw this crypto money" its value will crater immediately so most would still be without all that money put into it.

Just because you get a direct deposit paycheck NOW doesnt mean the boss cant pay workers in cash next week. Companoes go to digital transfers because its easier and easier to track and make sure nobody's skimming extra for themselves, it doesnt mean we coudl never go back to cash

Good advice in your reply!

"Just because you get a direct deposit paycheck NOW doesnt mean the boss cant pay workers in cash next week. Companoes go to digital transfers because its easier and easier to track and make sure nobody's skimming extra for themselves, it doesnt mean we coudl never go back to cash"

There isn't enough paper money in the banks to pull this off, the run on bank money would be over in a week. Perhaps they could depend on their own cash flow from customers but when customers can't get money from the bank, said business has no sales and no cash flow to return to workers. I agree with you, we could revert to cash only but that would be a monumental task. Simply safeguarding large amounts of cash in a doomsday scenario will be difficult.

 

[1320]

Blockchain is a worthless power sucking ponzi scheme and our grid could never support it in wide use.
There will be much better cryptos to emerge that will have real value but no, a computer program will never replace physical gold or silver.

There are many merchants out there that will happily trade gold or silver for their goods. I've done it plenty of times, and I've sold things for gold too.

The value of cryptos only comes from the people buying in and the value the market gives it at this time. It's a speculative investment same as the stock market. They were worthless after the hurricane but gold and silver could still be used and people could cash in.
If you trust your wealth to be safe in a digital world, good luck.
Would I need a happy meal when shtf and would McDonald's be open? Could I pull a bitcoin out of my pocket and pay them?

https://www.forbes.com/forbes/welco....google.com/&referrer=https://www.google.com/

The link......McDonalds to accept bitcoin....lol

 

[Johnnybravo300]

With the new "bail in" laws, I'd be hesitant to keep much in the bank. Next time the system fails it will be our money used for the too big to fail. That's why the new administration has been filled with goldman Sachs bankers. It's all part of the maga.
Trump just waived the punishments for the fraud the five big banks were found guilty of so it will continue. They can't figure out if he's a nice guy or if it's the fact that he owes them 100's of millions.
I smell a conflict of interest brewing and the swamp is filling up.

 

[Johnnybravo300]

McDonald's can't take bitcoin if the power is off. Cryptos aren't real money. You can't pull one out and get change.

It's the same as any digital payment.