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Personal Finance and Investing

bucolic_frolic

(43,123 posts)

15. what problem does cryptocurrency solve?

Reply to DinahMoeHum (Reply #9)

Sat Aug 1, 2020, 03:28 PM

Aug 2020

It reduces transaction fees and takes the fees from banks and gives them to ... I don't know, the exchanges? the companies that mine Bitcoin?

Not much of a problem at all really because there will always be some entity paid to facilitate payments of all kinds.

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Bitcoin [View all] bucolic_frolic Jul 2020 OP

I don't get it but I'm old. My kid has been following it and told me today captain queeg Jul 2020 #1

Bitcoin, along with precious metals TexasTowelie Jul 2020 #2

Bitcoin, along with precious metals TexasTowelie Jul 2020 #3

First-- what is money? TreasonousBastard Jul 2020 #4

I use Robinhood to buy bitcoin and grayscale stock too Iwasthere Aug 2020 #5

Do not construe this as any sort of advice for or against investing in bitcoin ... mr_lebowski Aug 2020 #6

Good post - as I understand Bitcoin (limited as that may be), when it was devised,there was a set c-rational Aug 2020 #10

I'm not entirely sure but my understanding is that the number available are self-limiting mr_lebowski Aug 2020 #13

Thank you. Interesting. I really don't understand it question everything Aug 2020 #11

Could be way wrong but I thought when one 'invests in bitcoin' generally ... mr_lebowski Aug 2020 #14

Thank you. I realize this. But even the "coin bank" question everything Aug 2020 #16

Perhaps if I called it a coin wallet it would make more sense? mr_lebowski Aug 2020 #17

Thanks all, I still think it's a lot of hype bucolic_frolic Aug 2020 #7

ADA , XRP vs BTC masmdu Aug 2020 #8

The following from Paul Krugman may help DinahMoeHum Aug 2020 #9

what problem does cryptocurrency solve? bucolic_frolic Aug 2020 #15

one of the real risks of cryptocurrency is that to the extent it succeeds, it will likely be unblock Aug 2020 #12