OT any of you investing in Cryptocurrencies?

[RHODEY]

My opinion? Don’t invest in crypto currency, it’ll never be worth more than it’s equivalent value in US Dollars. So if 1 bitcoin is worth $1 Million, which would you rather have? 90% of crypto investors are just going to bail when it reaches a significant dollar amount which gives crypto no inherent value of its own meaning most of that 90% will bail too late and lose out.

When (not if) there is mass adoption the bail will be from fiat to digital, not the other way around ...IMHO.

[NYG]

My opinion? Don’t invest in crypto currency, it’ll never be worth more than it’s equivalent value in US Dollars. So if 1 bitcoin is worth $1 Million, which would you rather have? 90% of crypto investors are just going to bail when it reaches a significant dollar amount which gives crypto no inherent value of its own meaning most of that 90% will bail too late and lose out.

When (not if) there is mass adoption the bail will be from fiat to digital, not the other way around ...IMHO.

In that case, I would respect your investment, but most people I know are just trying to spend US dollars on crypto with the intent to make more US dollars down the road which is not reasonable.

[ChilledAlex]

My opinion? Don’t invest in crypto currency, it’ll never be worth more than it’s equivalent value in US Dollars. So if 1 bitcoin is worth $1 Million, which would you rather have? 90% of crypto investors are just going to bail when it reaches a significant dollar amount which gives crypto no inherent value of its own meaning most of that 90% will bail too late and lose out.

When (not if) there is mass adoption the bail will be from fiat to digital, not the other way around ...IMHO.

In other words you trust in bitcoins because of conspiracy theories of declining dollar and imminent world economy collapse?

Okay... lets ignore that its stupid to say the least, what makes you think its gonna be cryptocurrencies being used as currency then? instead of let's say something with historic value.

If world economy collapses **** like bitcoin will be still less useful and have less trust that a dollar, simply because to 90% of people around the world Bitcoin is still unknown, and of those 10% who know what bitcoin is 9% know its shady useless **** with nothing to back it up and nothing to use it on

[BallSacBounce]

My opinion? Don’t invest in crypto currency, it’ll never be worth more than it’s equivalent value in US Dollars. So if 1 bitcoin is worth $1 Million, which would you rather have? 90% of crypto investors are just going to bail when it reaches a significant dollar amount which gives crypto no inherent value of its own meaning most of that 90% will bail too late and lose out.

One bitcoin, obviously, since I can get one for 6K or so right now.

BTW, you made a statement that means absolutely nothing at any level. Congratulations, you are awarded zero points and we are all dumber for having read it.

[stuporman]

I've been day trading forex for awhile and was telling people I'm a 'currency trader' because few know what the forex is. Now when I say it I have to answer a bunch of questions about crypto that made it even more complicated to explain what I do since I don't trade crypto. Haha

I don't because the market is too chaotic, there's not enough technical coherence for me to do what I do to squeeze gains out of it. I'm a technical trader and use relatively small hourly, daily and weekly fluctuations in the changing value on 4 currency pairs to generate those gains.

Why I prefer the forex is because the market is too big to manipulate, unlike the stock market, it's volatile enough to trade it but it's stable. There's no 'crashing' where everything goes down in value, it's currencies all relative to each other so when there's a stock market crash, I still make cash.

For those interested be warned, very few succeed and it's not because it's hard, it's actually quite simple. It's not the strategy, there are hundreds, maybe thousands of them that work, it's about emotions and discipline. Fear and greed are the trader's bane while knowing when to get out is as important if not more so than getting in.

The past month on cryptos though, ouch, like 40% drop.

[RHODEY]

My opinion? Don’t invest in crypto currency, it’ll never be worth more than it’s equivalent value in US Dollars. So if 1 bitcoin is worth $1 Million, which would you rather have? 90% of crypto investors are just going to bail when it reaches a significant dollar amount which gives crypto no inherent value of its own meaning most of that 90% will bail too late and lose out.

When (not if) there is mass adoption the bail will be from fiat to digital, not the other way around ...IMHO.

In other words you trust in bitcoins because of conspiracy theories of declining dollar and imminent world economy collapse?

Okay... lets ignore that its stupid to say the least, what makes you think its gonna be cryptocurrencies being used as currency then? instead of let's say something with historic value.

If world economy collapses **** like bitcoin will be still less useful and have less trust that a dollar, simply because to 90% of people around the world Bitcoin is still unknown, and of those 10% who know what bitcoin is 9% know its shady useless **** with nothing to back it up and nothing to use it on

Adding "lol" after every paragraph does nothing for your argument. Blockchain technology is going no where. Will Bitcoin be the air apparent? Don't know. But some form of digital currency will in my opinion. There is still a place for people who fear change... My Uncle still uses a pager. ...."LOL!"

[ArtMorte]

Blockchain technology is going no where. Will Bitcoin be the air apparent? Don't know. But some form of digital currency will in my opinion.

We can already pay for our shopping electronically, whether it's at the shops with credit card or online. I really don't feel like I need any more convenient payment methods in my everyday life. What's the need for blockchain?

[RHODEY]

Blockchain technology is going no where. Will Bitcoin be the air apparent? Don't know. But some form of digital currency will in my opinion.

We can already pay for our shopping electronically, whether it's at the shops with credit card or online. I really don't feel like I need any more convenient payment methods in my everyday life. What's the need for blockchain?

1. Transparency
The technology is almost always open source. Developers have the opportunity to modify it as they see fit. But what's most important about it being open source is that it makes altering logged data within a blockchain incredibly difficult. This makes blockchain a particularly secure technology.


2. Reduced transaction costs

Blockchain allows peer-to-peer and business-to-business transactions to be completed without the need for a third party, which is often a bank. Since there's no middleman involvement tied to blockchain transactions, it means they can actually reduce costs to the user or businesses over time.

3. Faster transaction settlements

With traditional banks, it's not uncommon for transactions to take days to completely settle. This is due to protocols in bank transferring software, as well as the fact that financial institutions are only open during normal business hours, five days a week. You also have financial institutions located in various time zones around the world, which can delay processing times. Blockchain technology is working 24 hours a day, seven days a week, meaning blockchain-based transactions process considerably more quickly.

4. Decentralization

Another central reason blockchain is so exciting is its lack of a central data hub. Instead of running a massive data center and verifying transactions through that hub, blockchain actually allows individual transactions to have their own proof of validity and the authorization to enforce those constraints. With information on a particular blockchain piecemeal-ed throughout the world on individual servers, it ensures that if this information fell into unwanted hands (e.g., a cyber-criminal), only a small amount of data, and not the entire network, would be compromised.

5. User-controlled networks

Rather than having a third party run the show, users and developers are the ones who get to call the shots.

[cuyankees]

Blockchain technology is going no where. Will Bitcoin be the air apparent? Don't know. But some form of digital currency will in my opinion.

We can already pay for our shopping electronically, whether it's at the shops with credit card or online. I really don't feel like I need any more convenient payment methods in my everyday life. What's the need for blockchain?

1. Transparency
The technology is almost always open source. Developers have the opportunity to modify it as they see fit. But what's most important about it being open source is that it makes altering logged data within a blockchain incredibly difficult. This makes blockchain a particularly secure technology.


2. Reduced transaction costs

Blockchain allows peer-to-peer and business-to-business transactions to be completed without the need for a third party, which is often a bank. Since there's no middleman involvement tied to blockchain transactions, it means they can actually reduce costs to the user or businesses over time.

3. Faster transaction settlements

With traditional banks, it's not uncommon for transactions to take days to completely settle. This is due to protocols in bank transferring software, as well as the fact that financial institutions are only open during normal business hours, five days a week. You also have financial institutions located in various time zones around the world, which can delay processing times. Blockchain technology is working 24 hours a day, seven days a week, meaning blockchain-based transactions process considerably more quickly.

4. Decentralization

Another central reason blockchain is so exciting is its lack of a central data hub. Instead of running a massive data center and verifying transactions through that hub, blockchain actually allows individual transactions to have their own proof of validity and the authorization to enforce those constraints. With information on a particular blockchain piecemeal-ed throughout the world on individual servers, it ensures that if this information fell into unwanted hands (e.g., a cyber-criminal), only a small amount of data, and not the entire network, would be compromised.

5. User-controlled networks

Rather than having a third party run the show, users and developers are the ones who get to call the shots.

Good stuff mixed in w c&p of fallcies.

Block chain is super inefficient and adds transactional cost. If you understand how the tech actually works, you'd understand that for each transaction, the "chain" gets longer and adds more inefficiency.

[Greenie]

I usually charge for te advice I’m about to post but I like you all(not all, but you get the point):

Stop investing in this mess right now until it somewhat stabilizes itself and even then it’s risky. Count your money as gone from the time of investment or end up disappointed.

[BadNewsBarnes]

I usually charge for te advice I’m about to post but I like you all(not all, but you get the point):

Stop investing in this mess right now until it somewhat stabilizes itself and even then it’s risky. Count your money as gone from the time of investment or end up disappointed.

Watch on YouTube

[RHODEY]

We can already pay for our shopping electronically, whether it's at the shops with credit card or online. I really don't feel like I need any more convenient payment methods in my everyday life. What's the need for blockchain?

1. Transparency
The technology is almost always open source. Developers have the opportunity to modify it as they see fit. But what's most important about it being open source is that it makes altering logged data within a blockchain incredibly difficult. This makes blockchain a particularly secure technology.


2. Reduced transaction costs

Blockchain allows peer-to-peer and business-to-business transactions to be completed without the need for a third party, which is often a bank. Since there's no middleman involvement tied to blockchain transactions, it means they can actually reduce costs to the user or businesses over time.

3. Faster transaction settlements

With traditional banks, it's not uncommon for transactions to take days to completely settle. This is due to protocols in bank transferring software, as well as the fact that financial institutions are only open during normal business hours, five days a week. You also have financial institutions located in various time zones around the world, which can delay processing times. Blockchain technology is working 24 hours a day, seven days a week, meaning blockchain-based transactions process considerably more quickly.

4. Decentralization

Another central reason blockchain is so exciting is its lack of a central data hub. Instead of running a massive data center and verifying transactions through that hub, blockchain actually allows individual transactions to have their own proof of validity and the authorization to enforce those constraints. With information on a particular blockchain piecemeal-ed throughout the world on individual servers, it ensures that if this information fell into unwanted hands (e.g., a cyber-criminal), only a small amount of data, and not the entire network, would be compromised.

5. User-controlled networks

Rather than having a third party run the show, users and developers are the ones who get to call the shots.

Good stuff mixed in w c&p of fallcies.

Block chain is super inefficient and adds transactional cost. If you understand how the tech actually works, you'd understand that for each transaction, the "chain" gets longer and adds more inefficiency.

The size of the blockchain is indeed a problem with Bitcoin,It's one of the drivers for the development of sidechain technology- so that none of the transactions exclusive to the sidechain ever hit the main blockchain, only those affecting global state- but it is not the most serious problem IMO.

For a full node, the information on the entire blockchain needs to be stored, and the ever-growing blockchain does increase the burden on the device. The price of hard disks will obviously drop. In the long run, the large amount of data is not the main problem.

Bitcoin has a limit (and that is in theory) of 4,000 transactions per second, in practice it has about 6 to 7 transactions per second. But limitations like these don’t apply for private blockchains. Private ones can achieve over 1000 transactions per second on Bitcoin. If you are asking yourself why that is the case, well, being in a private blockchain you can ensure that each and every node on the network uses a high-quality computer with strong bandwidth internet connection.

[RHODEY]

I usually charge for te advice I’m about to post but I like you all(not all, but you get the point):

Stop investing in this mess right now until it somewhat stabilizes itself and even then it’s risky. Count your money as gone from the time of investment or end up disappointed.

In not a financial advisor- I tell everybody do whatever the F#ck you wanna do but I would:

1) Do my own research

2)Only invest what I can afford to lose

3) Most importantly : "Buy when there's blood in the streets, even if the blood is your own."
-Baron Rothschild

[cuyankees]

1. Transparency
The technology is almost always open source. Developers have the opportunity to modify it as they see fit. But what's most important about it being open source is that it makes altering logged data within a blockchain incredibly difficult. This makes blockchain a particularly secure technology.


2. Reduced transaction costs

Blockchain allows peer-to-peer and business-to-business transactions to be completed without the need for a third party, which is often a bank. Since there's no middleman involvement tied to blockchain transactions, it means they can actually reduce costs to the user or businesses over time.

3. Faster transaction settlements

With traditional banks, it's not uncommon for transactions to take days to completely settle. This is due to protocols in bank transferring software, as well as the fact that financial institutions are only open during normal business hours, five days a week. You also have financial institutions located in various time zones around the world, which can delay processing times. Blockchain technology is working 24 hours a day, seven days a week, meaning blockchain-based transactions process considerably more quickly.

4. Decentralization

Another central reason blockchain is so exciting is its lack of a central data hub. Instead of running a massive data center and verifying transactions through that hub, blockchain actually allows individual transactions to have their own proof of validity and the authorization to enforce those constraints. With information on a particular blockchain piecemeal-ed throughout the world on individual servers, it ensures that if this information fell into unwanted hands (e.g., a cyber-criminal), only a small amount of data, and not the entire network, would be compromised.

5. User-controlled networks

Rather than having a third party run the show, users and developers are the ones who get to call the shots.

Good stuff mixed in w c&p of fallcies.

Block chain is super inefficient and adds transactional cost. If you understand how the tech actually works, you'd understand that for each transaction, the "chain" gets longer and adds more inefficiency.

The size of the blockchain is indeed a problem with Bitcoin,It's one of the drivers for the development of sidechain technology- so that none of the transactions exclusive to the sidechain ever hit the main blockchain, only those affecting global state- but it is not the most serious problem IMO.

For a full node, the information on the entire blockchain needs to be stored, and the ever-growing blockchain does increase the burden on the device. The price of hard disks will obviously drop. In the long run, the large amount of data is not the main problem.

Bitcoin has a limit (and that is in theory) of 4,000 transactions per second, in practice it has about 6 to 7 transactions per second. But limitations like these don’t apply for private blockchains. Private ones can achieve over 1000 transactions per second on Bitcoin. If you are asking yourself why that is the case, well, being in a private blockchain you can ensure that each and every node on the network uses a high-quality computer with strong bandwidth internet connection.

So we’re back to square 1 then bc a private blockchain implies what? A private party creating it and viola decentralization goes out the window. IBs are doing this right this very second to keep their hands in the middle of most institutional debt transactions.

It’s easy to believe that blockchain is the “future” bc it could be easily applied to everything in our life. The problem is that any knowledge of blockchain passed the basic, searching the internet level and repeating what others deem “intelligent”, quickly tells you that blockchain doesn’t work in a majority of the use cases bc newsflash it’s a very old security concept.

When you buy BTC/crypto, you think you’re buying the future, but in reality you’re buying something built on a security concept that is +25 years old.

[RHODEY]

Good stuff mixed in w c&p of fallcies.

Block chain is super inefficient and adds transactional cost. If you understand how the tech actually works, you'd understand that for each transaction, the "chain" gets longer and adds more inefficiency.

The size of the blockchain is indeed a problem with Bitcoin,It's one of the drivers for the development of sidechain technology- so that none of the transactions exclusive to the sidechain ever hit the main blockchain, only those affecting global state- but it is not the most serious problem IMO.

For a full node, the information on the entire blockchain needs to be stored, and the ever-growing blockchain does increase the burden on the device. The price of hard disks will obviously drop. In the long run, the large amount of data is not the main problem.

Bitcoin has a limit (and that is in theory) of 4,000 transactions per second, in practice it has about 6 to 7 transactions per second. But limitations like these don’t apply for private blockchains. Private ones can achieve over 1000 transactions per second on Bitcoin. If you are asking yourself why that is the case, well, being in a private blockchain you can ensure that each and every node on the network uses a high-quality computer with strong bandwidth internet connection.

So we’re back to square 1 then bc a private blockchain implies what? A private party creating it and viola decentralization goes out the window. IBs are doing this right this very second to keep their hands in the middle of most institutional debt transactions.

It’s easy to believe that blockchain is the “future” bc it could be easily applied to everything in our life. The problem is that any knowledge of blockchain passed the basic, searching the internet level and repeating what others deem “intelligent”, quickly tells you that blockchain doesn’t work in a majority of the use cases bc newsflash it’s a very old security concept.

When you buy BTC/crypto, you think you’re buying the future, but in reality you’re buying something built on a security concept that is +25 years old.

You make valid points. This is an "old" concept and there are issues that need to be work but I have faith that they will be in time.

[cuyankees]

The size of the blockchain is indeed a problem with Bitcoin,It's one of the drivers for the development of sidechain technology- so that none of the transactions exclusive to the sidechain ever hit the main blockchain, only those affecting global state- but it is not the most serious problem IMO.

For a full node, the information on the entire blockchain needs to be stored, and the ever-growing blockchain does increase the burden on the device. The price of hard disks will obviously drop. In the long run, the large amount of data is not the main problem.

Bitcoin has a limit (and that is in theory) of 4,000 transactions per second, in practice it has about 6 to 7 transactions per second. But limitations like these don’t apply for private blockchains. Private ones can achieve over 1000 transactions per second on Bitcoin. If you are asking yourself why that is the case, well, being in a private blockchain you can ensure that each and every node on the network uses a high-quality computer with strong bandwidth internet connection.

So we’re back to square 1 then bc a private blockchain implies what? A private party creating it and viola decentralization goes out the window. IBs are doing this right this very second to keep their hands in the middle of most institutional debt transactions.

It’s easy to believe that blockchain is the “future” bc it could be easily applied to everything in our life. The problem is that any knowledge of blockchain passed the basic, searching the internet level and repeating what others deem “intelligent”, quickly tells you that blockchain doesn’t work in a majority of the use cases bc newsflash it’s a very old security concept.

When you buy BTC/crypto, you think you’re buying the future, but in reality you’re buying something built on a security concept that is +25 years old.

You make valid points. This is an "old" concept and there are issues that need to be work but I have faith that they will be in time.

If you really want to get into the future and like Greenie, I should charge for this, but always believe in paying fwd, do yourself a favor and spread the word to your crypto “crazies” about homomorphic encryption. Negates necessity of blockchain and truly is the future of how transactions will occur in society.

[RHODEY]

So we’re back to square 1 then bc a private blockchain implies what? A private party creating it and viola decentralization goes out the window. IBs are doing this right this very second to keep their hands in the middle of most institutional debt transactions.

It’s easy to believe that blockchain is the “future” bc it could be easily applied to everything in our life. The problem is that any knowledge of blockchain passed the basic, searching the internet level and repeating what others deem “intelligent”, quickly tells you that blockchain doesn’t work in a majority of the use cases bc newsflash it’s a very old security concept.

When you buy BTC/crypto, you think you’re buying the future, but in reality you’re buying something built on a security concept that is +25 years old.

You make valid points. This is an "old" concept and there are issues that need to be work but I have faith that they will be in time.

If you really want to get into the future and like Greenie, I should charge for this, but always believe in paying fwd, do yourself a favor and spread the word to your crypto “crazies” about homomorphic encryption. Negates necessity of blockchain and truly is the future of how transactions will occur in society.

That sounds kinky Do you accept bitcoin?

[robillionaire]

I'm sure you can also find places that would exchange gold for used cars at certain price, doesnt make used cars a good investment or a currency

"btc isn't a currency, you can buy things with currency, you can't buy **** with btc"

*is shown an example of something you can buy with BTC (another example: you can buy anything on overstock.com with btc)*

"uh well that doesn't count!" *shifts goalposts* "that doesn't mean it's a good investment"

call it what you want I'm just pointing out that you actually can buy things with it contrary to what you're saying

DAmn you cryptocurrenciers deserve to lose your money since you're so dumb and naive, good god

You think that economics and market is so complicated and **** and you guys were sold that bitcoin is this new invention and future when in fact you have absolutely no clue what is it

Textbook pyramid scheme which you clowns are defending because you lost so so damn much and now you're in defensive mode

"BUT YOU CAN BUY STUFF! - HERE LOOK GOLD COINS EVERYONE BUYS GOLD COINS FOR BITCOIN"

"SEE HOW GOOD IT IS??"

LMFAO, Alright i'll let you live, enjoy your lost "investment' you mighty economists and investors

3500 the day you posted this and 13000 today

[Garbagelo]

3500 the day you posted this and 13000 today

This thread bumped

About to get dumped

[blanko]

Not personally but there is always opportunity in developing/chaotic industries.

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