Rank: Elder Joined: 7/11/2012 Posts: 5,222
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Swenani wrote:Mukiri wrote:Swenani wrote:Mukiri wrote:Swenani wrote:Mukiri wrote:Horton wrote:Stiffler wrote:Spikes wrote:Swenani wrote:Mukiri wrote:karasinga wrote:feels like selling my all to buy this thing funny!  if the wave count is right we might see > 22k print and a break >14927 will confirm the new bullish trend. disclaimer Already made my transition. All stocks and monies held. I'm also in the process of selling a house I used to rent out. I completely understand you You remind me of Deci You can't compare Deci with cryptocurrency. ..Is like comparing darkness with light. Loll
This crypto manenos is gonna make alot of people broke. I'm with you on that @Horton. Just like conventional taxi drivers who got disrupted by Uber. A currency is only as good as its backing government is. If it goes the Mugabe route, then the fiat loses value. Imagine a currency backed by worldwide acceptance. No government. And there someone is hanging onto valueless shillings. People will go broke indeed! I know what crypto is doing to Stock market. Capital flight. Stock brokers iko shida unless they adapt. No more Chase bank manenos. You are your own bank! No more exorbitant fees and commissions to send money anywhere in the world Uko na jokes. Bitcoin is not and can never be a currency.Payment system....maybe....but the way people are behaving BTC is neither a currency or a payment system. It is a product like gold/land That is where you go wrong my fren! Blockchain is the DECENTRALIZED system and crypto, which includes Bitcoin is the currency. A currency is what two people agree it is. Let me give you a (gutter) example you can relate well with. Back when I was like you, I threw a party. Somebody left some slippers in my place. I wonder what that person wore home! I digress. Some damsel visited later and liked the slippers, and was willing to offer cat for them. Let as just say, at that point in time, those slippers became currency Donge? Blockchain is a TECHNOLOGY not a decentralized system while bitcoin is a fraud. In my view, block chain can be useful in property ownership and not as a currency Blockchain is NOT a currency. Bitcoin was a major milestone. Its both a decentralized system and currency. Mpesa goes through Safaricom servers and is based on fiat, Kshs. Now imagine an Mpesa platform peer-to-peer (no control) using Mpesa Shilling (For imagination purposes, replace the Mpesa Shilling with Kenya, as it is the readily acceptable currency locally) I'm convinced your are in bitcoins without knowing what exactly it is. 1.I didn't say block chain is a currency,I said it is a technology which can be useful in property ownership. 2.Mpesa is a payment system not a currency,bitcoin would have been a payment system too which is not-refer to my comment of depositing 10K in your mpesa or debit account and withdrawing 15K or 1K after 2weeks,that's what bitcoin is. 3.In a payment system,except from the applicable transaction charges,the value or your currency doesn't appreciate/depreciate with time unlike bitcoin 4.Mukiri is holding the coins as an asset,he has no intention of storing the value of his coins or using them to buy sugar and milk but he expects to make money from the coins when he sells,which makes bitcoin a speculative asset which can easily be categorized as a speculative bubble. Read my post again and try use your imagination. If it doesn't register how Bitcoin became a milestone by being both a decentralized system and currency, I suggest you watch a documentary called Magic money. If all else fails, stop wasting your time here I fully agree with your number 4, and have written about it here before. We are in a transitional phase. Just like the dot com bubble before its imminent crash. Read your bubble history, it will tell you that bubbles are not necessarily bad. They give rise to products that change the course of life. Rail road bubble, dot com bubble, now crypto-currency bubble et al Will it crash? YES! But we are far off from there. Make your money now. Keep taking profits. At the end of the day, when the dust settles, your Bitcoin will be used for sugar and milk. By the way wewe ni Mluhya ya wapi?
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