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Topic	Someone explain cryptocurrency to me.
Smarkil 12/29/17 5:10:42 PM #23:	FellWolf posted... Smarkil posted... Can you? Can you hop in a rowboat over to France, get yourself a quinoa shake and give them a fistful of American dollars and have it work? What about China? What about Zimbabwe? You probably could, but they would scam the fuck out of you probably. Also you should exchange your money before going to those countries because the exchanges there will cost more. Theoretically, you wouldn't have to. Bitcoin could be a universally accepted currency. The only real difference between the US dollar and Bitcoin is that the US dollar has been around longer. It was once backed up my gold/silver but it's not anymore so it has as much inherent value as any other thing. Right now, bitcoin and other cryptos are all speculative, sure, but they have a lot of potential to be a lot more. If you live in a country, like Zimbabwe, where your countries' currency is worthless - you could still trade with people and have it mean something. I wouldn't bet my life savings on a crypto, but I think it will stick around in some form of another. --- "We're not even close" - Romans building Rome at the end of Day 1 <cite>Smarkil posted [p:893081979] in Someone ex... [t:76148458]...</cite> <quote><cite>FellWolf posted...</cite> <quote><cite>Smarkil posted...</cite> <quote> Can you? Can you hop in a rowboat over to France, get yourself a quinoa shake and give them a fistful of American dollars and have it work? What about China? What about Zimbabwe?</quote> You probably could, but they would scam the fuck out of you probably. Also you should exchange your money before going to those countries because the exchanges there will cost more.</quote> Theoretically, you wouldn't have to. Bitcoin could be a universally accepted currency. The only real difference between the US dollar and Bitcoin is that the US dollar has been around longer. It was once backed up my gold/silver but it's not anymore so it has as much inherent value as any other thing. Right now, bitcoin and other cryptos are all speculative, sure, but they have a lot of potential to be a lot more. If you live in a country, like Zimbabwe, where your countries' currency is worthless - you could still trade with people and have it mean something. I wouldn't bet my life savings on a crypto, but I think it will stick around in some form of another. --- "We're not even close" - Romans building Rome at the end of Day 1</quote> ... Copied to Clipboard!
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