Bitcoin and other cryptocurrencies

dyyyy

Well-Known Member
bitcoin has real adoption problems and the way the currency is secured is energy inefficient, but the guy above really has no idea what he's talking about. The entire point of crypto is that it is decentralized, it is by design that you can't be "bailed out" with inflation. once again, bitcoin is already more trustworthy than LBP and the currency of many other shithole countries. it already has value on that basis alone.
Thanks for mentioning the adoption problem, because exactly people trading it is completely different than adoption (same goes for its high price tag), and this is the real problem with bitcoin
 

Danny Z

Legendary Member
What makes a currency adpotable is its stability. Stability is paramount as the currency has to denominate the value of goods over a long period of time. There could be a minimal inflation with time as all currencies have this natural phenomenom but if a currency flucutates wildy it means its economy is not stable. A stable currency is an indicator of a the health of the economy issuing it. Economic policies, inflation, interest rate , international trade, current account balance and capital flows have a direct effect on the value of the currency. Bitcoin has none of that, Essentially a bitcoin is a medium to transfer money, like a cheque, people receiving bitcoin can go and cash that cheque in USD. Is a cheque really worth any value in money, the only differences between a real cheque and bitcoin is that your cheque might one day end up being a lottery ticket where you could get more or get less or maybe even get nothing and no bank or economy will bail you out. Bticoins are just like being pink sheets and penny stocks when it comes to risk. Although penny stocks are not obligated to make their financial situations transparent to investors they might still have cashflows while bitcoin has nothing no transparency who owns it. It is funny how people do not trust the banks and the economy but they trust something which source and value can at best be called nebulous.
 

Wolf

Well-Known Member
My point is that you’re totally stupid
and here is the perfect example of how lebanese ppl label each other when they do not agree with a point of view

again here is a list of website that crypto

notice the BMW
microsoft etc to name few
and here is my favorite website that display their product in crypto.



here is another one that transform your crypto into gift cards


you do not believe in crypto then it your right and there is nothing wrong with it. but to label ppl is the lowest form of communication.
time to grow up.
 

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Steven Gerrard

Active Member
Orange Room Supporter
and here is the perfect example of how lebanese ppl label each other when they do not agree with a point of view

again here is a list of website that crypto

notice the BMW
microsoft etc to name few
and here is my favorite website that display their product in crypto.



here is another one that transform your crypto into gift cards


you do not believe in crypto then it your right and there is nothing wrong with it. but to label ppl is the lowest form of communication.
time to grow up.

lol

you know these companies do not give back your bitcoin value at the time of purchase incase of refunds

do you?

Companies can choose how it will refund customers if they do not want to keep their goods: dollars or bitcoins. this means companies can choose the best deal for it. If at time of purchase you use 1 btc at 30,000 USD rate but loses its value to 10K usd, companies you mentioned can give you back the bitcoins you used. If they appreciate, the company may refund you with dollars and keep the difference (if it becomes 60k, they take the 30k extra and give you back the 30k you paid for in btc). All companies price their goods and services in currencies not BTC or any other crypto.

accepting a crypto is different than saying goods and services are being traded through bitcoin.

It's a terrible terrible deal.
 

Danny Z

Legendary Member
and here is the perfect example of how lebanese ppl label each other when they do not agree with a point of view

again here is a list of website that crypto

notice the BMW
microsoft etc to name few
and here is my favorite website that display their product in crypto.



here is another one that transform your crypto into gift cards


you do not believe in crypto then it your right and there is nothing wrong with it. but to label ppl is the lowest form of communication.
time to grow up.
10 post laters, you still did not understand anything. And companies take cheques too, does that make cheques of any value at all?
habal all around this forum has been growing at an alarming rate. But hey it is your money squander it as you wish, for years I have not placed a dollar in the Lebanese bank because I knew all this was coming but the Lebanese people follow the effect of masses and they believed and told each other no ma tkhaf it has bee like that for years, and that Salameh was giving them high interest rates for free, I kept saying eventually this will collapse, and it did. Now i am telling you the same, get out as long as you can. But what am I to gain from any of this, squander your money wherever you want, it is your problem.
 

Wolf

Well-Known Member
lol

you know these companies do not give back your bitcoin value at the time of purchase incase of refunds

do you?

Companies can choose how it will refund customers if they do not want to keep their goods: dollars or bitcoins. this means companies can choose the best deal for it. If at time of purchase you use 1 btc at 30,000 USD rate but loses its value to 10K usd, companies you mentioned can give you back the bitcoins you used. If they appreciate, the company may refund you with dollars and keep the difference (if it becomes 60k, they take the 30k extra and give you back the 30k you paid for in btc). All companies price their goods and services in currencies not BTC or any other crypto.

accepting a crypto is different than saying goods and services are being traded through bitcoin.

It's a terrible terrible deal.
you are still comparing btc with usd.
it is not the case
example:
a watch cost 300USD
or 330 CDN
or 3000 ruble
or 15000 yen
or 4,000,000 lbp
or 0.00032 BTC
or 1.2 DASH
or 0.13 ETH
or 10 camels


it does not matter what currency you use the company will refund you with what you paid with

if it happened that today the LBP is at 25,000USD or at 250USD it does not matter
the guy will pay you pack 4,000,000LBP regardless of it is worth in different currency.
we can easily change comparison from USD to grams of cold or to rupee.
 

Steven Gerrard

Active Member
Orange Room Supporter
you are still comparing btc with usd.
it is not the case
example:
a watch cost 300USD
or 330 CDN
or 3000 ruble
or 15000 yen
or 4,000,000 lbp
or 0.00032 BTC
or 1.2 DASH
or 0.13 ETH
or 10 camels


it does not matter what currency you use the company will refund you with what you paid with

if it happened that today the LBP is at 25,000USD or at 250USD it does not matter
the guy will pay you pack 4,000,000LBP regardless of it is worth in different currency.
we can easily change comparison from USD to grams of cold or to rupee.

Dude,

Companies have the right to pay you back in BTC or USD or whatever. it depends heavily on speculation.

If you pay 1 BTC to buy a Tesla car when 1 BTC is at 60k usd, but after 1 week BTC drops to 30k and you want to return your car for a refund, they will give back your 1 BTC which is valued at 30k. If BTC appreciates to 100k in 1 week and you also return your car, companies have the right to give back your money in USD NOT BTC, you will get 60k back and they keep the extra 40k for themselves, they will never every give you back 1 BTC.

THEY WILL REFUND YOU DEPENDING ON WHAT'S A GOOD DEAL TO THEM OR NOT.
 

Wolf

Well-Known Member
Dude,

Companies have the right to pay you back in BTC or USD or whatever. it depends heavily on speculation.

If you pay 1 BTC to buy a Tesla car when 1 BTC is at 60k usd, but after 1 week BTC drops to 30k and you want to return your car for a refund, they will give back your 1 BTC which is valued at 30k. If BTC appreciates to 100k in 1 week and you also return your car, companies have the right to give back your money in USD NOT BTC, you will get 60k back and they keep the extra 40k for themselves, they will never every give you back 1 BTC.

THEY WILL REFUND YOU DEPENDING ON WHAT'S A GOOD DEAL TO THEM OR NOT.
move on mate
 

Bandar

Well-Known Member
Orange Room Supporter
10 post laters, you still did not understand anything. And companies take cheques too, does that make cheques of any value at all?
habal all around this forum has been growing at an alarming rate. But hey it is your money squander it as you wish, for years I have not placed a dollar in the Lebanese bank because I knew all this was coming but the Lebanese people follow the effect of masses and they believed and told each other no ma tkhaf it has bee like that for years, and that Salameh was giving them high interest rates for free, I kept saying eventually this will collapse, and it did. Now i am telling you the same, get out as long as you can. But what am I to gain from any of this, squander your money wherever you want, it is your problem.
you didn't put a dollar in a lebanese bank because you don't live in lebanon.

which begs the question, how is your english still so terrible? you've been outside for like 10 years broski.
 

Danny Z

Legendary Member
you didn't put a dollar in a lebanese bank because you don't live in lebanon.

which begs the question, how is your english still so terrible? you've been outside for like 10 years broski.
Because of course all those who lost money in banks are only the people living in Lebanon, and that high interest rate that Salemeh championed was only for those living in Lebanon. It had nothing to do with the diaspora. Inta fazi3
Which begs the question, why is your understanding of english and of the economic situation is so terrible? maybe because you've been an idiot for like 10 years and more.
 

Bandar

Well-Known Member
Orange Room Supporter
Because of course all those who lost money in banks are only the people living in Lebanon, and that high interest rate that Salemeh championed was only for those living in Lebanon.
Which begs the question, why is your understanding of english and of the economic situation is so terrible? maybe because you've been an idiot for like 10 years and more.
so you were considering putting money in a lebanese bank, while living abroad?

and you were bragging about that?

hahahahahahahahahah
 

Danny Z

Legendary Member
Companies have the right to pay you back in BTC or USD or whatever. it depends heavily on speculation.

If you pay 1 BTC to buy a Tesla car when 1 BTC is at 60k usd, but after 1 week BTC drops to 30k and you want to return your car for a refund, they will give back your 1 BTC which is valued at 30k. If BTC appreciates to 100k in 1 week and you also return your car, companies have the right to give back your money in USD NOT BTC, you will get 60k back and they keep the extra 40k for themselves, they will never every give you back 1 BTC.

THEY WILL REFUND YOU DEPENDING ON WHAT'S A GOOD DEAL TO THEM OR NOT.
I am not sure about Tesla but microsoft do not accept refund and probably the reason is that microsoft don't keep bitcoin they just sell it to USD the moment they receive it.


If a company was to refund they will consider it as a credit card and refund you the amount of listed good in their listed currency, example USD, or EUR equivalent minus the transaction fees to change the BTC to USD twice and the bitpay fees. This is the same procedure as if you are using a credit card with another denominated currency than the one the goods are sold with.

Ovetstock does exactly that and it is explained here under terms and conditions. They don't take any risks holding a bitcoin for more than 10 minutes, it clearly states 10 minutes below.


Visa has value as they charge merchants, and customers for transaction and eat 3% on exchange rates. that's how they have a cashflow and hence capitalization and market value. Bitcoin gets nothing out if this, Bitpay makes money but not bitcoin, so Bitpay can be worth something but the bitcoin itself is worth as much as the plastic physical card VISA uses.
 
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