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  1. #1
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    Are bitcoins or litecoins the way forward

    Would you say bitcoins or litecoins are the way forward for purchases on online stores. What do you think about it and what are the pros and cons?
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  2. #2
    Join Date
    Jul 2004
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    Bitcoin is increasing in value too fast. Is it the same as inflation?

    A good monetary system has low inflation.

  3. #3
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    I think bitcoin is still too unstable. One day it will crash.
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  4. #4
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    Oct 2001
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    Quote Originally Posted by hellind2 View Post
    Bitcoin is increasing in value too fast. Is it the same as inflation?

    A good monetary system has low inflation.
    Deflation, not inflation. Inflation would mean each bitcoin is decreasing in real world value. Deflation is still just as dangerous as inflation however. In a scenario where bitcoin was used as a primary currency, deflation would absolutely murder an economy.

  5. #5
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    Any deregulated currency with specs is just frightening in my book.

  6. #6
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    I don't think bitcoin is the way to go. Tomorrow it could be gone depending on what happens. I think the best is a regulated currency. I will be keeping my cash.
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  7. #7
    Join Date
    Jun 2013
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    United Kingdom
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    It could work but its online and with hackers and its constant issue, it will never be fully trusted in my opinion.

  8. #8
    I think they have their place as a currency, but they're too unstable. They're not too safe, either, many thousands - if not millions of bitcoins have been stolen.

  9. #9
    Join Date
    Jan 2008
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    St. John's, NL
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    Quote Originally Posted by RebornWebs View Post
    Would you say bitcoins or litecoins are the way forward for purchases on online stores. What do you think about it and what are the pros and cons?
    It is a fad that will pass.
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  10. #10
    Join Date
    May 2013
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    84
    Quote Originally Posted by hellind2 View Post
    Bitcoin is increasing in value too fast. Is it the same as inflation?

    A good monetary system has low inflation.
    Yeah, Bitcoin's "value" fluctuates wildly mostly due to dishonest exchanges fixing the markets, but even if it were to somehow stabilize it would still be inherently deflationary and thus useful for the real world.

    Quote Originally Posted by IGobyTerry View Post
    as dangerous as inflation however.
    Controlled inflation isn't dangerous, in fact it is a necessity to stabilize ever-growing economies.

  11. #11
    Join Date
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    To a large extent, I think the success will depend on part how taxing authorities (such as the IRS in the United States) treat it. I believe that the IRS is now considering it to be "property" rather than foreign currency.

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