Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Apr 01, 2017

Bitcoin back over $1,100 for the time being. ETH a bit under $50.
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grantwoodisgold
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Re: Bitcoins - fad or trend?

Postby grantwoodisgold » Sat Apr 01, 2017

interesting vid:

https://youtu.be/YgYgEIkdBPQ

Bitcoin vs. Ripple – A RACE to NEW ALL-TIME HIGHS (Bo Polny)
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sun Apr 02, 2017

grantwoodisgold wrote:interesting vid:

https://youtu.be/YgYgEIkdBPQ

Bitcoin vs. Ripple – A RACE to NEW ALL-TIME HIGHS (Bo Polny)


Well either that guy is lucky as all get up, or a genius.
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silverpv
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Re: Bitcoins - fad or trend?

Postby silverpv » Sun Apr 02, 2017

Interesting video on the miners of the coins. The waste is pretty considerable. 4050 bit coins mined a month at the time of this video $300 was $1.25 million a month. In today's money that is $4.5 million a month. Of course the amount generated goes down but they still have the coins...

:geek:


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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Mon Apr 03, 2017

silverpv wrote:Interesting video on the miners of the coins...

And those guys have six sites like that one, or did back in 2014, and were looking to expand. Maybe now they have a dozen warehouses full of thousands of air-cooled, souped-up CPUs mining away 24/7. Probably more mining emterprises like that one in China and elsewhere. Thought provoking...

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Re: Bitcoins - fad or trend?

Postby Altima » Tue Apr 04, 2017

There's an ICO coming up for a coin issued by a VC firm, if anybody is interested.

https://www.bloomberg.com/news/articles ... tal-tokens

https://blockchaincapital.tokenhub.com/
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue Apr 04, 2017

Altima wrote:There's an ICO coming up for a coin issued by a VC firm, if anybody is interested.

https://www.bloomberg.com/news/articles ... tal-tokens

https://blockchaincapital.tokenhub.com/


Interesting. Not really sold on the idea though. May want to post stuff like this in the Alt-coin thread next time.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Tue Apr 04, 2017

So this thread was started in October 2013. The question in the title has been answered, hasn't it? If it's a fad, it's kind of a long-lasting one. ¯\_(ツ)_/¯

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed Apr 05, 2017

Long John wrote:So this thread was started in October 2013. The question in the title has been answered, hasn't it? If it's a fad, it's kind of a long-lasting one. ¯\_(ツ)_/¯


You know who called it a fad and a bubble.... the one, the only, the evil-one... Alan Greenspan. Man I love seeing those elitist morons come up snake eyes in the game of life. What a sell out that dude is. A hard currency supporter, who sells out to become FED chief, and then the guy advocates a gold standard and having gold now that he is "retired" and unable to effect any policy. Evil.

Listen to this Freakonomics podcast. It is a great summary for a layman, and it is from 2014 back when the price was around $600. I enjoy math and economics and these podcasts often take an interesting angle at different topics. Download or listen here:

http://freakonomics.com/podcast/why-eve ... o-podcast/
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed Apr 05, 2017

Litecoin took off.
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Re: Bitcoins - fad or trend?

Postby Altima » Wed Apr 05, 2017

Bucketeer wrote:Litecoin took off.


Cos they're testing that Segwit thingy on LTC first.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed Apr 05, 2017

I'm sure a lot of people are watching, think they are at 75% with the miners.
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texmex66
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Re: Bitcoins - fad or trend?

Postby texmex66 » Wed Apr 05, 2017

Is this true? :shock: Japan recognizing Bitcoin as a legal currency? BTC currently $1150 :pop:

http://www.thedailyeconomist.com/2017/0 ... rency.html

https://www.youtube.com/watch?v=3UiVcyIBRMY

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Apr 06, 2017

Gentlemen prefer Engelhard.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sun Apr 09, 2017

Banks lecturing crypto advocates about fraud or control of money is quite hilarious:
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Re: Bitcoins - fad or trend?

Postby jcz1 » Sun Apr 09, 2017

SilverDoge wrote:Banks lecturing crypto advocates about fraud or control of money is quite hilarious:


Until three's and FDIC for cyrpto, there is a point to be made here. Haven't there been losses already in cyrpto due to fraud/theft?
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sun Apr 09, 2017

fraud, theft, and a ton of losses by early adopters mishandling their assets/wallets.
Gentlemen prefer Engelhard.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sun Apr 09, 2017

jcz1 wrote:
SilverDoge wrote:Banks lecturing crypto advocates about fraud or control of money is quite hilarious:


Until three's and FDIC for cyrpto, there is a point to be made here. Haven't there been losses already in cyrpto due to fraud/theft?


You put your money in a bank... you technically no longer own that money. You are a liability on the bank's balance sheet. When you want it back, as long as society is operating like "normal" you have access to your funds. The FDIC guarantees money for participating banks if they fail individually. What happens if 10% fail, or 50%? Is Congress going to bail the banks out AGAIN? Or less dramatically, capital controls. A bank can limit your withdrawal to $200 a day, or less, due to "insert whatever reason here". See Cyprus, or Greece.

The losses in crypto have been due to people keeping their money on online exchanges. If you keep your coin in offline storage like a Trezor, or KeepKey, or a paper wallet and you DON'T lose or forget the password that you create - then you are good. Take back control of your own life. Cut out the counterparty risk. Physical precious metals, and cold storage crypto. FDIC is a false security blanket in a systemic banking collapse. I give the elite banksters as little of my money as possible. Don't fund the enemy!
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sun Apr 09, 2017

Surely you don't mean to imply that none of the 700 cryptocurrencies out there will ever go down the drain taking your money with it. Having your WhizzoCoin on a secure thumb drive is of no help if WhizzoCoin fails or its owner flies the coop.

Also, there is nothing about crypto that prevents unscrupulous people from starting up a currency with full intent of ripping off their investors. Just because you don't work for Goldman Sachs or JPMorgan or BOA or Wells Fargo doesn't mean you are pure of heart. If there is money to be stolen, bad people are going to try to steal it.

Or convince you to give it to them.

I have invested in BTC and PIVX, and a little in ETH, because I was overcome by the logic that it is the future, like it or not. But I am under no illusions as to it being safer or somehow morally better than my traditional bank. I started stacking for a reason, too, but precious metals are rife with criminality. Money corrupts. Cryptomoney is not immune.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sun Apr 09, 2017

Long John wrote:Surely you don't mean to imply that none of the 700 cryptocurrencies out there will ever go down the drain taking your money with it. Having your WhizzoCoin on a secure thumb drive is of no help if WhizzoCoin fails or its owner flies the coop.

Also, there is nothing about crypto that prevents unscrupulous people from starting up a currency with full intent of ripping off their investors. Just because you don't work for Goldman Sachs or JPMorgan or BOA or Wells Fargo doesn't mean you are pure of heart. If there is money to be stolen, bad people are going to try to steal it.

Or convince you to give it to them.

I have invested in BTC and PIVX, and a little in ETH, because I was overcome by the logic that it is the future, like it or not. But I am under no illusions as to it being safer or somehow morally better than my traditional bank. I started stacking for a reason, too, but precious metals are rife with criminality. Money corrupts. Cryptomoney is not immune.


You are correct. Market risk is inherent in any traded stock, bond, crypto, etc. The fraud/incompetence of Mt.Gox or the security issues of a crypto exchange were the events I was referring to when talking about theft/fraud, etc.
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