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Joe_Cavalry All Day Every Day


Debate Info

10
0
Sure, why not? Wait..., what? No!!!
Debate Score:10
Arguments:7
Total Votes:10
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 Sure, why not? (8)

Debate Creator

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Would you consider using Bitcoins?

http://www.businessweek.com/articles/2013-03-28/bitcoin-may-be-the-global-economys-last-safe-haven

There are 10,952,975 Bitcoins in circulation. (With a digital currency you can be specific.) Bitcoin isn’t about to replace hard currency—with a market cap of $864 million—but it’s bigger than anyone expected. And many people will tell you that the emergence of a virtual global money supply beyond the reach and control of any government is very real and that it’s time we take it seriously. As long as the Internet remains turned on, Bitcoin will be there—to its adherents, it’s the Platonic currency.

A Bitcoin’s not so much a thing as an understanding, a balance in a decentralized general ledger, or “account log.” Bitcoins are created as the side effect of a great deal of meaningless computational work. That is, the computer could be working on processing images, or doing something else with its time, but instead it’s being used to “mine” Bitcoins—searching for mathematical needles in a networked haystack. Once the needle is found, a “block” of Bitcoins is born. Bitcoins live in a bit of software known as your “wallet.”

How did they get there? Perhaps you minted them by mining, or bought them on an exchange, or received them as part of a barter transaction. Once you have Bitcoins, you want to buy something. How do you spend them? Clicking around your wallet app, you set up a payment and put in the Bitcoin address of the recipient. A few minutes later, after the peer-to-peer network has authorized the transaction as legitimate, the recipient’s wallet, wherever it is, will show that you’ve paid up.

Bitcoins are not pegged to anything, and there are no regulations. It’s a supercomputer-size chore to counterfeit. The key thing to understand is that there’s no bank, no Federal Reserve, in the middle (can you say, "Screw the Fed." ;). It’s not unlike an exchange-traded fund—a mix of non-U.S. currencies—designed as a hedge against the dollar. Bitcoin is a hedge against the entire global currency system. And no exchange is needed, unless you want to convert your Bitcoin into an actual hard currency.

 http://bitcoin.org/en/

Sure, why not?

Side Score: 10
VS.

Wait..., what? No!!!

Side Score: 0

Maybe Bitcoin’s devotees are right, and it’s the currency of the future. Or perhaps it’s a ridiculous joke—a speculative, hilarious enterprise taken to its most insane conclusion. Given that the founder is nowhere to be found, it feels like a hoax, a parody of the global economy. That the technology used to implement it has, so far, shown itself to be impeccable and completely functional, and that it’s actually being exchanged, just makes it a better joke. The truth is, it doesn’t much matter if it’s a joke or not. It works.

Bitcoin is a currency in which every transaction is stored by the entire network and every coin has its own story. There’s nothing to trust but math. Suddenly an idea that sounded terrible—a totally decentralized currency without a central authority, where semi-anonymous parties exchange meaningless tokens—becomes almost comforting, a source of power and authority.

Bitcoin isn’t tied to any commodity—besides trust. As a statement on the global economy, Bitcoin is hilarious. As a currency for the disenfranchised and distrustful, it’s as serious as can be. ;)

Side: Sure, why not?

OH, GOODIE, joecavalry created a monetary debate. This is exciting.

As of now Bitcoins are unique and potentially great because it decentralizes money, yet the only problem with digital money is the non physical form of the coin, all check and credit card transactions must eventually be exchanged in actual physical commodity, which means checks and credit cards merely play as money substitutes, but being Bitcoins are strictly digital, it is hard to imagine that they will gain value and confidence not backed by some commodity.

Side: Sure, why not?
1 point

I was absolutely devastated yesterday when I discovered that their value had increased ninefold. I wanted to buy a bunch a few months ago (ah, but to walk along that medieval passage), but became shortsighted.

Indeed, yes, I would love to use bitcoins, provided their terms remain the same; that is, I like the anonymity, and would be loath to see it changed.

Side: Sure, why not?

Have you ever bought anything using Bitcoins? If so, please share your experience. How is that done exactly? Where do you find people who accept Bitcoins? How do you get Bitcoins?

Side: Sure, why not?
1 point

I invested in some bitcoins a few months ago. People would doubt, doubt and will always doubt whether to use them. I also like that Bitcoin is not tied to other currencies and all processes are built on mathematics. I didn't doubt whether to buy them, the main problem for me was wallet, because you can never know if this wallet is reliable enough. You can be fooled even with ordinary money, so virtual currency may also be subject to fraud. I found https://igniteoutsourcing.com/publications/bitcoin-wallet-app-development/ , so I was able to select all the security elements for myself in order to create my own application and now I feel safe.

Side: Sure, why not?
1 point

How to start crypto trading? Maybe there are some tips on how to avoid high risks in trading and not be afraid of market volatility.

Side: Sure, why not?
1 point

Dude, I have one favorite exchanger that I have been using for about a year. I think you will like the best cryptocurrency exchange platform! You can easily buy tron or trade almost anything for anything thanks to Switchere.com. When you use it for the first time, the platform will not charge you a fee. Just try it and I'm sure you'll like it.

Supporting Evidence: buy trx (switchere.com)
Side: Sure, why not?
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