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Merged Bitcoin - Part 3

psionl0 said:
One that defies all of the "experts" who constantly say that it is just a fad and will disappear overnight.
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Bitcoin pretty much has disappeared from the mainstream.

psionl0 said:
BTW How do you define a "currency"?


Trading volumes at bitcoin exchanges are irrelevant.
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No they are not. They tell us how many people are buying and selling Bitcoin. It turns out the answer is very few.

psionl0 said:
Bitcoin is just a digital asset and as long as its price continues its upward trend, those who are too frightened to include it in their investment portfolio are missing out.
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No asset can continue an upward trend forever. And the only reason Bitcoin is still going up is because there are people who think it will go up further. As soon as these people become scarce, Bitcoin will stop going up. I can't tell you when that will be, but it will happen.

Plus there's an ethical consideration. Bitcoin doesn't do anything useful. Buying it in the hope it will go up is just a form of gambling. Your profits come solely from other buyers' pockets. There's nothing creating wealth behind BTC.
 
The Federal Reserve does annual surveys regarding crypto and it's use. This article discusses both the Fed survey and the Pew Research Survey from 2021

jamesmadison.org

Reason: Fed Report Shows Who's Actually Using Crypto and How - James Madison Institute

Millions of lower-income or unbanked people are more likely to use cryptocurrency as a payment method. May 31,...
jamesmadison.org jamesmadison.org

About 12-16% of the population is estimated to have held or used crypto.
About 2-3% have used it as a payment mechanism or for goods/services. That amounts to about 6 million people in the US.
About 13% of those who made crypto transactions don't have a bank account and 27% don't have a credit card.

This report shows that different people use cryptocurrency for different reasons. Those who primarily invest in cryptocurrency tend to be higher income with better financial access. This doesn’t mean that they are savvy investors, but they are at least more likely to have above average financial sophistication.

Those who primarily transact in cryptocurrency, on the other hand, tend to be lower income and have less access to financial services than cryptocurrency investors and non-users alike.
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The_Animus said:
About 2-3% have used it as a payment mechanism or for goods/services. That amounts to about 6 million people in the US.
About 13% of those who made crypto transactions don't have a bank account and 27% don't have a credit card.
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i would assume this is primarily gambling
 
psionl0 said:
That shows how fact free your posts are. You changed "goods/services" into "gambling" with no justification.
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a couple of posts ago you called me a liar about a topic you clearly don't know a whole lot about, and put your foot in your mouth, so don't be calling me out if you're going to hide from when you're wrong.

anyway, not sure why gambling wouldn't be considered a service. it's certainly not a good, and there's not another category left.
 
dirtywick said:
a couple of posts ago you called me a liar about a topic you clearly don't know a whole lot about, and put your foot in your mouth, so don't be calling me out if you're going to hide from when you're wrong.
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I didn't use the term "liar". But although you linked to an article saying that Strategy was selling bonds, you failed to show that they were using bitcoin as collateral so I am not wrong.

dirtywick said:
anyway, not sure why gambling wouldn't be considered a service. it's certainly not a good, and there's not another category left.
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Still just a fact free assumption.
 
psionl0 said:
I didn't use the term "liar". But although you linked to an article saying that Strategy was selling bonds, you failed to show that they were using bitcoin as collateral so I am not wrong.
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??? their only asset? what else is there to the company? it’s a bitcoin treasury lol

what a joke
 
The Great Zaganza said:
what other services can you pay for in bitcoin?
Besides killer-for-hire or prostitution?
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there’s hundreds of billions in dozens of online crypto casinos. not sure why assuming people are participating in them is so crazy to psion but he just gets angry when anyone posts in this thread and doesn’t seem to care to educate himself on anything he doesn’t immediately agree with.
 
dirtywick said:
there’s hundreds of billions in dozens of online crypto casinos. not sure why assuming people are participating in them is so crazy to psion but he just gets angry when anyone posts in this thread and doesn’t seem to care to educate himself on anything he doesn’t immediately agree with.
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Typical reaction to being asked for evidence - attack the arguer. Project much?
 
psionl0 said:
Typical reaction to being asked for evidence - attack the arguer. Project much?
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casinosblockchain.io

How Much Money Do Crypto Casinos Really Make in 2025?

Discover how crypto casinos like Stake earn billions, which chains players use, and why this industry keeps breaking records.
casinosblockchain.io casinosblockchain.io

this is like basic stuff you can find on your own

edit

and you're not asking for evidence. you're calling my posts fact free assumptions when it's really you don't have a clue about a topic and refuse to learn anything about it. me not taking that seriously isn't a reaction to you asking for evidence, it's me not indulging your laziness
 
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dirtywick said:
casinosblockchain.io

How Much Money Do Crypto Casinos Really Make in 2025?

Discover how crypto casinos like Stake earn billions, which chains players use, and why this industry keeps breaking records.
casinosblockchain.io casinosblockchain.io

this is like basic stuff you can find on your own
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It still doesn't establish that gambling in on-line casinos is the primary use of cryptocurrency. (It might be but you saying it doesn't make it so).
 
i didn't say it was the primary use for crypto, i said i assumed a significant portion of the 2-3% of people using it for goods and services are using it to gamble. which again, if you're going to quote me and be rude about it, read a little closer. it's a few posts up if you need to reread it.
 
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