Nas To Make Over $100M This Week
- Thread starter Stick Up Kid
- Start date
FromBillionsCameOne
All Star
one commen t the value of BC isn't determined in dollars it's described in dollars just like the value cane be described in any other currency. the current value in Japanese Yen is 6,761,910.52.lol, why the fukk are all you bitcoin nikkas always so salty
Listen, Tesla themselves say you have 30 minutes to process your bitcoin payment to cop the car, why is that if bitcoin doesn't make hourly wild swings?
Secondly, if this shyt is a currency it should be able to stand on it's own, but nope, it's value is determined in dollars. You were right when you said that right now it's more like holding an appreciating asset. And by the way, that fact means that if you buy a Tesla with bitcoin right now it'll cost you WAY MORE than if you bought it with cash because all of a sudden you're realizing a gain on an asset that you've effectively "sold", so the IRS is gonna come knockin.
Don't take my word for it
Using Bitcoin to Buy a Tesla? Get Ready to Hear From the IRS
Lastly, I have no issues with crypto, I just don't think it's useful right now as a currency at all. And I don't like bitcoin in particular but I'm way more interested in the future of ethereum and more recently chia. But that'sa tech discussion for another day.
UserNameless
Veteran
DontEemTry
Superstar
Yeah, described. My bad.
As a currency bitcoin is pretty useless right now due it's volatility. Maybe someday the price will settle down and we'll be able to use it to actually buy everyday things.
Until then it's more like an asset that people speculate on.
FromBillionsCameOne
All Star
Based on my limited knowledge you're absolutely correct. I only made that comment because it's in no way tied to the dollar. If I want to blow a $1000 at the mall it's .016 bitcoin. So we agree it's not meant to spend it's basically digital gold.
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You looking at Bitcoin wrong.. the point of it is basically to exclude banks. Real rich people love it. Its not about volatility for the rich. For everyday people like us, its an investment like having a gold bar.
DontEemTry
Superstar
You're right. All I'd add to that is that it's more about excluding central banks specifically from manipulating a "currency" willy nilly.
But we're a long way from that because bitcoin can barely be considered a currency in its current state. Like you said it's a bit more like owning gold.
JetFueledThoughts
Superstar
Nas made that generational wealth today I can tell by the energy
Never did I think Nas would be mentioning names like B Horowitz and C. Dixon. If you know you know. Nas plugged in for real.
The GAWD
A Surprise Winner From Coinbase's IPO? Rapper Nas
Rapper Nasir Jones, known better as Nas, has emerged as an unlikely winner in today’s Coinbase IPO. An early investor in the company, the rapper’s stake is worth at least $40 million. The cryptocurrency exchange was valued at $99.6 billion today when trading began and reached a valuation of over $100 billion in minutes.
Rapper Nasir Jones, known better as Nas, has emerged as an unlikely winner in today’s Coinbase IPO. An early investor in the company, the rapper’s stake is worth at least $40 million. The cryptocurrency exchange was valued at $99.6 billion today when trading began and reached a valuation of over $100 billion in minutes.