Bitcoin

#126
#126
Vol8188 said:
Which means it's super risky and you could lose a lot. cypro currencies are the tech stocks of the 90s. The only question is, when will 99 get here?
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Sure, a correction will come. But noone knows when and by how much. From what I've gathered following many of the thought leaders in crypto, we are still in the very beginning of the craze.

But even those who got rekt in the late 90's bubble but held onto their AMZ/Google/Apple shares - how are those looking now??

Right now, people have the opportunity to get into some really good projects for pennies. If they hit 5-15 years later, you're set.

Some of these are seriously going to be as big or bigger than Apple or Microsoft was to computing in the 80s
 
#127
#127
midnight orange said:
If you look at the history of gold during periods of high inflation like Zimbabwe or the Weimar Republic, gold becomes almost worthless. It's probably worthless in Venezuela now. People don't want gold, they want food and clothes. You'll end up trading a gold coin you paid $1300 for a sack
of potatoes or a pair of worn shoes.
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Inflation increases the prices of goods, so sure, it'll take a lot of any currency to buy goods during inflation. No one disagrees with that.

If that sack of potatoes is selling for 2,600 you will be really glad you bought gold instead of keeping cash, because you paid half price for those potatoes.
 
#128
#128
20171212_alt5.jpg
 
#129
#129
n_huffhines said:
Intrinsic value isn't the be all, end all, though. A huge portion of its value is just perceived value, so that doesn't make it a sound investment, it just means it won't drop to $0.

Bitcoin has value beyond just being a currency because it's a currency with transparency and it cannot be manipulated. It's not going to drop to $0, either.
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What's to stop another crypto to currency from taking it's place? I love the concept of bitcoin, I just can't wrap my brain around the scarcity of it.
 
#130
#130
Bitcoin, litecoin, volcoin, huffcoin, golfcoin. Take your pick. They are like rocket ships. Their destination is the upper limits of earthly prosperity.
 
#131
#131
Vol737 said:
So SWIL, with only 21M Bitcoins that will ever be created and other crypto currencies following the same path in their creation, what's the end game here? Simply a basket of CCs to mine/buy/sell/trade as a medium of exchange as an alternative to fiat? I get that. But you said it's designed to unseat the power brokers of the global financial system, but isn't it only to an extent (loosen their grip) with each CC being limited. Other fiat currencies will still be in play, so does it really unseat them or it just forces them to adapt to the new kid in town?
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BTC was conceived as a response to the ongoing fiat manipulation that was responsible for the global economic crisis of 2008. The whole concept was to create a completely transparent, autonomous, and anti-inflationary currency that required no authority or reserves to manage or maintain it.

The technology behind bitcoin, the blockchain, is the real innovation. It's really as profound as the invention of the internet and has endless use cases.

All these other crypto currencies are attempting to address various use cases using blockchain.

Most of them are going to fail - a few of them will be home runs.
 
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#132
#132
Vol8188 said:
Inflation increases the prices of goods, so sure, it'll take a lot of any currency to buy goods during inflation. No one disagrees with that.

If that sack of potatoes is selling for 2,600 you will be really glad you bought gold instead of keeping cash, because you paid half price for those potatoes.
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I disagree. You paid a fortune for the sack of potatoes if you go by the historical price of gold vs the historical price of potatoes. I would be willing to bet that someone would take a pair of sneakers,pants,ammo, or a box of bandaids over gold for the potatoes.
 
#134
#134
$17,725 Bitcoin ($296B market cap)

"Experts" are calling for $100,000 per coin and then on to a million per coin. I wish that I could sell the picks and shovels. The CBOE and CME should be doing well trading the futures.

Litecoin: $361 (up 64% today)($17B MC)

Ethereum: $624 (up 23% today)($58B MC)

Cryptocurrency Market Capitalizations | CoinMarketCap
 
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#135
#135
Vol8188 said:
Anything is only worth what another will pay for it, we agree on that. Gold is used as currency. But gold has many other uses outside of that. Because of that, if other currencies go down, gold will continue to rise.

Bitcoin and cash only have value as a currency. Gold is actually valuable outside of its ability to be exchanged for other things. Something neither bitcoin nor cash can say
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Gold itself may have many uses. but most of them are luxury based. again in a collapse that value becomes very little. why worry about jewelry or a computer chip if you are starving? Iron/copper etc will be much more valuable, accessible and actually usable in day to day life unlike gold which is worth while because it is shiny.

also, are you carrying around a gold bar you are knocking little chunks off of? are do you mint gold coins? good luck bartering with flakes of gold, and coins are again only worth something as long as they are a coin. really the only value they have is historical and letting future archaeologists know what what happening at a given time.
 
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#136
#136
I'm interested to see how world gov'ts and powers that be try to regulate and control something that was solely created to be immune to such control.

If significant adoption takes hold, Crypto is going to render most of the financial system obsolete and neuter governments' ability to wage war for profits, freeze assets, and overspend excessively. It's going to truly return the power back to the people.
 
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#137
#137
**** really hits the fan, crypto currencies, fiat currencies, precious metals all will be worthless. The only currency worth a darn will be beans and bullets, the latter being the most valuable.
 
#138
#138
SWIL said:
I'm interested to see how world gov'ts and powers that be try to regulate and control something that was solely created to be immune to such control.

If significant adoption takes hold, Crypto is going to render most of the financial system obsolete and neuter governments' ability to wage war for profits, freeze assets, and overspend excessively. It's going to truly return the power back to the people.
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Or the more likely answers is the government's shut it down
 
#139
#139
Vol8188 said:
Or the more likely answers is the government's shut it down
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Possibly, read the book "The Mandibles" by Lionel Shriver. It's set in the not so distant future and deals with a complete collapse of the US dollar. Crypto currencies aren't covered but it does cover the internet being so overrun by hackers and malicious bugs that people had stopped using it for financial transaction.
 
#140
#140
Vol8188 said:
Or the more likely answers is the government's shut it down
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Well, in BTC's case, the blockchain's public ledger shows every single transaction ever made - including wallet addresses. Which should make it easy enough to tax - which is why I think most gov'ts are remaining cautiously passive so far.

But if a currency like Monero(XMR) takes off, which is focused on total privacy, well that's a huge can of worms.

You can't tax what you can't trace... XMR has already become the $$ of choice for the silk road crowd.
 
#141
#141
midnight orange said:
What's to stop another crypto to currency from taking it's place? I love the concept of bitcoin, I just can't wrap my brain around the scarcity of it.
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What do you mean "taking its place"? There is a market for several crypto-currencies. The value of one doesn't really diminish the value of others.
 
#142
#142
SWIL said:
Well, in BTC's case, the blockchain's public ledger shows every single transaction ever made - including wallet addresses. Which should make it easy enough to tax - which is why I think most gov'ts are remaining cautiously passive so far.

But if a currency like Monero(XMR) takes off, which is focused on total privacy, well that's a huge can of worms.

You can't tax what you can't trace... XMR has already become the $$ of choice for the silk road crowd.
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It's not just about taxes and transparency. It's also about control. If they can control the monetary system they can tax you without you even noticing (inflation).
 
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#143
#143
n_huffhines said:
What do you mean "taking its place"? There is a market for several crypto-currencies. The value of one doesn't really diminish the value of others.
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The value is based in the number of users. So if the number of currencies grows faster than the number of users, that could happen. But currently there's so many untapped users, that it makes the threat of competition less bothersome
 
#144
#144
n_huffhines said:
What do you mean "taking its place"? There is a market for several crypto-currencies. The value of one doesn't really diminish the value of others.
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It seems possible that the crypto currency market could become saturated with competing currencies. Bitcoin may be the currency de jour, but that is no guarantee that it will be tomorrow's crypto currency unless there is some trait bitcoin has that can't be duplicated by other crypto currencies.
 
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#145
#145
SWIL said:
Sure, a correction will come. But noone knows when and by how much. From what I've gathered following many of the thought leaders in crypto, we are still in the very beginning of the craze.

But even those who got rekt in the late 90's bubble but held onto their AMZ/Google/Apple shares - how are those looking now??

Right now, people have the opportunity to get into some really good projects for pennies. If they hit 5-15 years later, you're set.

Some of these are seriously going to be as big or bigger than Apple or Microsoft was to computing in the 80s
Click to expand...


Even if you are right, why not wait for the 90 pct correction, buy on the dip.
 
#146
#146
lawgator1 said:
Even if you are right, why not wait for the 90 pct correction, buy on the dip.
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sure, you could do that. But you'll be missing out on the compounding interest of buying the dips along the way and selling at the top and getting in at the ground level on some projects.
 
#148
#148
SWIL said:
sure, you could do that. But you'll be missing out on the compounding interest of buying the dips along the way and selling at the top and getting in at the ground level on some projects.
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That's not interest compounding. But something that declines 50% rises 100% to get back to the pre-dip level.
 
#149
#149
SWIL said:
I was a fairly early adopter of BTC because I studied the hell out of it and realized its potential.

Blockchain is going to change the world and nearly every industry for the better.
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Yep. Not just financial.

And yep. It's the bullet against the bankers.
 
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