I'd recommend spending some time reading this, for better understanding:Ydobon wrote:Does anyone have any tips for someone just starting out?
https://en.bitcoin.it/wiki/Main_Page
I'd recommend spending some time reading this, for better understanding:Ydobon wrote:Does anyone have any tips for someone just starting out?
Thanks for that.stayhigh wrote:I'd recommend spending some time reading this, for better understanding:Ydobon wrote:Does anyone have any tips for someone just starting out?
https://en.bitcoin.it/wiki/Main_Page
that certainly helps. but the real answer to the question is, "because humans expect other humans to accept it". this is usually roughly based on "other humans accepted dollars yesterday, so they'll likely accept them again tomorrow". absent catastrophic hyperinflation or civil war, this is usually a correct gamble.Seppia wrote:What, ultimately, gives any currency its value?
I think if we dig enough, we have to get to the conclusion that the real reason why a piece of paper with a dead president's face drawn on it it commonly accepted as form of payment is the fact that the US government only accepts said currency as a form of payment for taxes.
There seems to me to be so much upside. I'd love to see a crypto-currency become an international currency that is utillised for everything.BRUTE wrote: bitcoin is amazing for some types of payments. it's like internet cash. no credit card numbers, no risk of getting identity stolen, no counter party risk for the bank (unless using 3rd party wallet), relatively high privacy, relatively fast (actually depends a bit on luck these days because of core BTC protocol problems, sometimes it can take a few hours). and it's much more convenient than typing in CC information, there's a link to click, checking the balance is correct, clicking ok, done.
bottlerocks wrote:Some concise big picture analysis:
https://www.youtube.com/watch?v=WoWY2UzIB_8
bryan wrote: - un-announced competitors can always come out of the shadows to kill BTC (decent nation state crypto-currency or Apple are the ones I am keeping an ear to the ground for)
depends on what it's competing for - decentralization only has advantages in a few very specialized use case. that's why humans still mostly use checks, cash, credit cards..daylen wrote:The only competitor Bitcoin has is a better crypto-currency algorithm/protocol. Decentralization is the whole point of Bitcoin. I do not know much about this subject, but this is my current understanding.