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bitcoins

Blankpage said:
Please let this be a sure fire way to get rich quick
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No, it's about slow and steady wins the race. That is to say that slow and steady CAN win the race. I wish I'd read this - oh wait, it wasn't written until 2014. Never mind.
 
I heard a new word on NPR today: deponzification.
 
Well darn. It seems like coinbase has taken some liberties on the meaning of the word "instant." Still waiting for my cc deposit to go through 90 minutes later. I get a text from buying a drink in a vending machine before it even gets dispensed...
 
Interesting article on Ripple/XRP

https://cryptoyoda1338.wordpress.com/2018/01/04/the-truth-about-ripple/amp/?__twitter_impression=true


XRP is 100% premined, Ripple holds 60% of the supply, controls which nodes are selected as “trustworthy” to confirm transactions, while they have paid nothing to create those tokens that people are so willingly buying at $4+ per piece and thereby make the creators insanely rich. Let us call it what it really is, digital fiat, the renewed version of the debt-based traditional fiat system, leveraged by latest technology – which eventually has nothing to do with cryptocurrency whatsoever.

And to reflect on it using Mr. Peter Brandt’s words…

"The purpose of the market is to redistribute the wealth from the many to the few"

When it comes to Ripple, just ask yourself… Who is the few? And who is the many?
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Some people are building perpetual money machines and plenty of people are flocking to supply the cash.... :laughing
 
Dubbington said:
Interesting article on Ripple/XRP

https://cryptoyoda1338.wordpress.com/2018/01/04/the-truth-about-ripple/amp/?__twitter_impression=true
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That guy confuses social activism with investing. XRP may well be a somewhat centralized currency that lacks many of the features of a true cryptocurrency, but I would argue that is exactly what makes it appealing to many user and could result in XRP becoming the dominant digital currency.

The average person is a lot more interested in reliable systems in which their money can't disappear from a typo or hack with no recourse than they are in wanting to bring down fiat currency and the world order.

That said, which (if any) of the various digital currencies gets adopted for general use is a complete crapshoot. Personally, I suspect a system that uses US dollars but allows for faster transactions will be the end game. Why invent a new currency (backed by nothing but faith in value) when we already have a very popular, well accepted currency (backed by faith in value plus the backing of the wealthiest nation in the world.)

The big sell for the general population with crypto has been fast cheap transactions, but there is no systemic reason this isn't possible with the dollar. The anonymity of crypto is actually a downside for most average people, since it makes theft so much easier.

The currently volatility makes crytpo essentially unusable as currency, and who would bother jumping through the hoops currently required to use crypto if money couldn't be made? It's a lot easier (and often cheaper) to send money in US dollars than cryto unless both parties already have crypto.
 
Here is an outstanding article on the excellent Mr. Money Mustache site on Why Bitcoin is Stupid.

I suggest any new "investors" read before sitting down at this roulette table.
 
Entoptic said:
lol ok....
Decent article.
Meanwhile BTC recovers and is sitting at 16.5k
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You're far too optimistic about this investment. As someone who's invested in Crypto since 2012, you should really be more critical about who's in control of the market and what these coins value actually are.
 
Volcomism said:
You're far too optimistic about this investment. As someone who's invested in Crypto since 2012, you should really be more critical about who's in control of the market and what these coins value actually are.
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Please enlighten us with your 5 years of experience. Who is in control and how should we invest?

I mentioned a dip. You said it wasn't. Now BTC is at 16.5. I got in on the dip and will sell around 17.1ish. Did you get in on the dip?

We'll revisit this post at 20k... if that ever happen again :)
 
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Entoptic said:
Please enlighten us with your 5 years of experience. Who is in control and how should we invest?
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Considering the lot of profits made by us recently were due to massive media hype along with pump & dump schemes that were coordinated - you should be skeptical as fuck. Either get on board with other investors and learn when you're being manipulated - or don't and bank on pure luck.

Invest on coins that have white papers and have implemented the coin's actual purpose & use-case, that's my only advice.

Entoptic said:
I mentioned a dip. You said it wasn't. Now BTC is at 16.5. I got in on the dip and will sell around 17.1ish. Did you get in on the dip?
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Look at BTC's history. You'll see a trend.
 
Entoptic said:
Please enlighten us with your 5 years of experience. Who is in control and how should we invest?

I mentioned a dip. You said it wasn't. Now BTC is at 16.5. I got in on the dip and will sell around 17.1ish. Did you get in on the dip?

We'll revisit this post at 20k... if that ever happen again :)
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Its seems BTC could easily hit 20k again, and it could easily hit $1 again. Since either number makes about the same amount of sense since there are no "fundamentals" to evaluate and price the currency.

My biggest question at the moment is what good is BTC? Even if crypto becomes the future of money why would anyone use BTC vs something better?

It's useless as currency until its price becomes stable, and once that happens it's still going to be an expensive pain in the ass to use and lack anything like FDIC insurance.
 
Entoptic said:
Please enlighten us with your 5 years of experience. Who is in control and how should we invest?

I mentioned a dip. You said it wasn't. Now BTC is at 16.5. I got in on the dip and will sell around 17.1ish. Did you get in on the dip?

We'll revisit this post at 20k... if that ever happen again :)
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About three weeks ago I remarked that Bitcoin had probably reached the end of the meteoric rise and was becoming range bound.

Everything I see says that is true. It's currently trading mid 16xxx as opposed to $18xxx
 
Also, lets not forget this is essentially a zero sum game, for every dollar made in crypto someone else needs to lose a dollar.
 
bpw said:
Also, lets not forget this is essentially a zero sum game, for every dollar made in crypto someone else needs to lose a dollar.
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Shhhhhhhhh!!!!! The first rule of the Fight Club!
 
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