Cryptocurrency, who has it?

[SMD]

I have to say, I am at a loss as to the value proposition for something like BTC (other than the greater fool theory). It is not a good payment system in that it cannot really compete with the likes of Visa, MC, PP, etc. Transaction processing is way too slow (by design) and its design is such that it can only clear a fraction of the transactions of Visa et al. So its slower, more expensive and cannot be scaled to compete with the other payment processors. So if it is not a terribly good payment system, is it a store of value? I think you can look at the chart for it to find your answer to that question. So what exactly is it good for? I understand the case for something like Ripple (XRP) but not BTC.

Small anecdote -- to say that Wall Street is not involved or sitting back and laughing at the rubes is simply not true. My spouse works on the trading desk of the prime brokerage group at a BB bank. The guys on the desk are constantly watching and playing the crypto market. Its all personal money and they all view it as gambling and not investing, but they are all over this. As institutions, no the BB banks are not players, but the guys on the desk absolutely are in their personal accounts.

[hsm]

two things,

this drop has been timed so holders of bitcoin think about it over xmas, they have a few days to fret over it until the markets re-open, then they all sell.

secondly, even if we were looking at something truly revolutionary, it wouldn't be allowed to succeed by world governments, due to its so called 'dark' connotations.

the above is just one mans opinion, a simple, working man with zero power or influence.

[TC94]

Originally Posted by hsm

two things,

this drop has been timed so holders of bitcoin think about it over xmas, they have a few days to fret over it until the markets re-open, then they all sell.

secondly, even if we were looking at something truly revolutionary, it wouldn't be allowed to succeed by world governments, due to its so called 'dark' connotations.

the above is just one mans opinion, a simple, working man with zero power or influence.

Uhhhh...bitcoin and cryptocurrency markets are open 24/7/365. There’s no contemplating anything over a holiday. You can buy or sell on numerous exchanges anytime any day. And no one “times” a dip.

IF it’s revolutionary? There’s no doubt it’s revolutionary. And many governments are or will soon be piloting user ID stored on blockchains as a method to secure borders. Medical licensing boards are piloting storing and tracking physician credentials on a public blockchain. Land records are being stored on a blockchain solution built as a layer on bitcoin network by Factom.

Companies are tracking the entire history of food products from farm to table to ensure safety. Logistics is a wide open area for crypto and blockchain. Some will be private while others will be public. Ripple will enable lightning fast worldwide intercurrency interbank large transactions. Consider billions per week are sent over the old system using Nostro accounts with cumbersome currency swaps requiring banks to have both currency types on deposit to facilitate trades. And they take 4 days. Ripple can do it seconds to minutes.

Cryptocurrency and blockchain are very much not just bitcoin. And they will be revolutionary. The field is its infancy. We can only imagine what use cases will look like 5-10 years from now.

If anyone’s interested, we’re tryimg to get https://thecryptocurrencyforums.com off and running for beginners through advanced discussion on the field. Check us out.

[broken_link]

Meanwhile Belarus goes full crypto: “On 22 December Belarus President Alexander Lukashenko signed the law on the overall regulation of digital tokens, cryptocurrencies, including bitcoin, initial coin offerings (ICOs), activities of cryptocurrency exchanges, smart contracts and related issues.” http://belarusfeed.com/belarus-legalizes-icos/

[hsm]

Originally Posted by TC94

Uhhhh...bitcoin and cryptocurrency markets are open 24/7/365. There’s no contemplating anything over a holiday. You can buy or sell on numerous exchanges anytime any day. And no one “times” a dip.

IF it’s revolutionary? There’s no doubt it’s revolutionary. And many governments are or will soon be piloting user ID stored on blockchains as a method to secure borders. Medical licensing boards are piloting storing and tracking physician credentials on a public blockchain. Land records are being stored on a blockchain solution built as a layer on bitcoin network by Factom.

Companies are tracking the entire history of food products from farm to table to ensure safety. Logistics is a wide open area for crypto and blockchain. Some will be private while others will be public. Ripple will enable lightning fast worldwide intercurrency interbank large transactions. Consider billions per week are sent over the old system using Nostro accounts with cumbersome currency swaps requiring banks to have both currency types on deposit to facilitate trades. And they take 4 days. Ripple can do it seconds to minutes.

Cryptocurrency and blockchain are very much not just bitcoin. And they will be revolutionary. The field is its infancy. We can only imagine what use cases will look like 5-10 years from now.

If anyone’s interested, we’re tryimg to get https://thecryptocurrencyforums.com off and running for beginners through advanced discussion on the field. Check us out.

you mean they were open 24/7 365 days

trading is currently suspended

[BrazenC5]

Hodling!!!!!!

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[MrWeha]

Always hold & buy the dip

[TC94]

Originally Posted by hsm

you mean they were open 24/7 365 days

trading is currently suspended

No it isn’t. And it wasn’t.

There are dozens of exchanges trading cryptos. The market never closes. Coinbase, GDAX, Poloniex, Gemini, Kraken, Bitstamp, Binance, and several smaller ones.

Again cryptocurrency doesn’t start and end at bitcoin. Nor does it stop at Coinbase. I see a lot of people dismiss all crypto but without actually knowing anything about it. This thread included.

[hsm]

Originally Posted by TC94

No it isn’t. And it wasn’t.

There are dozens of exchanges trading cryptos. The market never closes. Coinbase, GDAX, Poloniex, Gemini, Kraken, Bitstamp, Binance, and several smaller ones.

Again cryptocurrency doesn’t start and end at bitcoin. Nor does it stop at Coinbase. I see a lot of people dismiss all crypto but without actually knowing anything about it. This thread included.

it clearly states on all news media that at least 3 major trading houses have suspended bitcoin trading,

this is not conjecture

[SMD]

Originally Posted by hsm

it clearly states on all news media that at least 3 major trading houses have suspended bitcoin trading,

this is not conjecture

You are missing the point, presumably intentionally. So what if three exchanges temporarily stopped trading. Still plenty of places to trade right now.

[powerfunk]

Originally Posted by hsm

it clearly states on all news media that at least 3 major trading houses have suspended bitcoin trading,

this is not conjecture

"Did briefly stop trading" is different than "have stopped trading." You have to go deeper than clickbait headlines. Btc back over 15k now.

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[hsm]

Originally Posted by SMD

You are missing the point, presumably intentionally. So what if three exchanges temporarily stopped trading. Still plenty of places to trade right now.

why presumably intentionally?


I don't follow, I have a legitimate point of view, its just different to yours.

[TC94]

Originally Posted by hsm

why presumably intentionally?


I don't follow, I have a legitimate point of view, its just different to yours.

Your point of view isn’t accurate and not based on the overall actual facts. It’s clear that you’ve already decided the entire crypto market is BS. Your first point was that exchanges are closed all holiday weekend. I refuted that, so you pointed out a brief suspension of trading of just a couple of currencies on just a couple of exchanges as support for your initial comment. Which also isn’t true.

I don’t mind different opinions, but not random contradictions just because you’ve decided it’s all a scam. It isn’t but I’m not going to write a book here to explain why. Grab a couple of articles or books on the topic rather than relying on MSM to tell you how bitcoin and crypto work.

[Etschell]

interesting patents here. paypal, boa, wf and goldman sachs

http://patft.uspto.gov/netacgi/nph-P...Query=litecoin


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[hsm]

Originally Posted by TC94

Your point of view isn’t accurate and not based on the overall actual facts. It’s clear that you’ve already decided the entire crypto market is BS. Your first point was that exchanges are closed all holiday weekend. I refuted that, so you pointed out a brief suspension of trading of just a couple of currencies on just a couple of exchanges as support for your initial comment. Which also isn’t true.

I don’t mind different opinions, but not random contradictions just because you’ve decided it’s all a scam. It isn’t but I’m not going to write a book here to explain why. Grab a couple of articles or books on the topic rather than relying on MSM to tell you how bitcoin and crypto work.

so how much are you into bitcoin for?

[TC94]

Originally Posted by hsm

so how much are you into bitcoin for?

Less than 1% of my net invested assets, almost all of which are in Vanguard Index funds. It’s the technology that has my attention. But since you can’t win the argument with facts, let’s call into question the other party’s motivation for arguing.

If you care enough to spend some time reading about the field. I’d be happy to have a cogent discussion. But if you’re not, I’m not interested in a typical back and forth posting war. I’ve spent almost a year diving into the field. I’ve heard all the tired cliches, most of which aren’t even close to the truth. So carry on. Just keep this thread in mind 3-5 years from now. Not just until the next bitcoin price drop.

[Etschell]

Originally Posted by TC94

Less than 1% of my net invested assets, almost all of which are in Vanguard Index funds. It’s the technology that has my attention. But since you can’t win the argument with facts, let’s call into question the other party’s motivation for arguing.

If you care enough to spend some time reading about the field. I’d be happy to have a cogent discussion. But if you’re not, I’m not interested in a typical back and forth posting war. I’ve spent almost a year diving into the field. I’ve heard all the tired cliches, most of which aren’t even close to the truth. So carry on. Just keep this thread in mind 3-5 years from now. Not just until the next bitcoin price drop.

dell has a patent to monitor delievery vehicles.

another patent was issued to some people for using blockchain to verify voting

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[TC94]

Originally Posted by Etschell

dell has a patent to monitor delievery vehicles.

another patent was issued to some people for using blockchain to verify voting

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I think a lot of people who don’t understand cryptocurrencies think that blockchain technology exists on its own without the underlying currency having value. That’s where I started from about 9 months ago. Private blockchains set up by the giant tech companies will have a lot of uses and benefits, but the value will be the public distributed blockchains that can’t be controlled by one entity, whether a business, government or other.

And some of the pricy middleman industries like public records, land records, licensing, escrow for money exchange, and on will be fighting for their jobs as the tech progresses. It will be disruptive. Of course I have no idea what exactly the dollar value of specific currencies will be.

I do predict many projects will die before ever seeing the light of day. Especially among recent ICOs. It’s hard to drive a company through development to marketing a product when someone hands you $50-100 million up front. Many will take the money and run.

[SMD]

Originally Posted by hsm

why presumably intentionally?





I don't follow, I have a legitimate point of view, its just different to yours.

I was giving perhaps too much credit. I assumed you understood the difference between temp suspensions on a few exchanges and a total shutdown of trading. My mistake.

Edit: I do not own any btc. VTSMX is more my speed.

[hsm]

Originally Posted by SMD

I was giving perhaps too much credit. I assumed you understood the difference between temp suspensions on a few exchanges and a total shutdown of trading. My mistake.

Edit: I do not own any btc. VTSMX is more my speed.

you enjoy your vtsmx now

[mcorliss]

Originally Posted by OliveSales

Damn.... I feel bad for IBM https://www.youtube.com/watch?time_c...&v=EHsB1Fzun1A

I think they should of hired you so that you can let them know not to waste millions of dollars building off of blockchain :(

I like how the confident 150 year financial veterans who are able to predict the future of every market pop up only when correction happens and have nothing to offer other than "I'm a financial veteran". I'm going to assume you have going through every companies GitHub and looked into the work they have put to conclude they are a ponzi scheme with no real world use (of course you didn't do that)

Only time will tell...

[DeeTee]

Some serious action going on with ETH lately.
TRF let’s keep this thread up top with solid information.

2018 is going to be the big big year for Crypto, but the explosive growth won’t be for BTC imo.

[Andrejb]

I purchased some litecoin cuz a buddy told me to buy literally know nothing about it lol


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[OliveSales]

This is the year of the Alts for sure. Glad to see the Alts I got while back have been exploding.

[powerfunk]

Originally Posted by OliveSales

This is the year of the Alts for sure. Glad to see the Alts I got while back have been exploding.

Yeah it's an absolute crapcoin bonanza. Heck, I have some old BlackCoin lying around that recently quadrupled in value for no discernible reason. It should be worth 0. Everything is up, just because people are frantically looking for the "next bitcoin" because btc is so congested. If btc ever really gets Lightning up and running and the backlog issue gets mitigated, it's going to be an altcoin apocalypse overnight.

And now Ripple is valued at over $100 bil despite 70% of coins being owned by the company and transactions being reversible. The company is now selling off an average of roughly $1,300 per second in XRP. And apparently the market is able to absorb that and more. I feel like I'm taking crazy pills.

[TC94]

Originally Posted by DeeTee

Some serious action going on with ETH lately.
TRF let’s keep this thread up top with solid information.

2018 is going to be the big big year for Crypto, but the explosive growth won’t be for BTC imo.

2018 will definitely be huge for crypto. I’m of the opinion that some or even a lot of the projects will fade while the ones with actual working functional platforms will rise to the top. I think institutional money will drive that trend.

Feel free to give my new sites a look:

https://thecryptocurrencyforums.com

is our primary CMS site with community forms along with

https://thealtcoinforums.com
https://theethereumforums.com

for more discussion threads. Free and eventually premium content. No email spam or newsletters.

[Etschell]

Originally Posted by powerfunk

Yeah it's an absolute crapcoin bonanza. Heck, I have some old BlackCoin lying around that recently quadrupled in value for no discernible reason. It should be worth 0. Everything is up, just because people are frantically looking for the "next bitcoin" because btc is so congested. If btc ever really gets Lightning up and running and the backlog issue gets mitigated, it's going to be an altcoin apocalypse overnight.

And now Ripple is valued at over $100 bil despite 70% of coins being owned by the company and transactions being reversible. The company is now selling off an average of roughly $1,300 per second in XRP. And apparently the market is able to absorb that and more. I feel like I'm taking crazy pills.

xrp is garbage. dont care what the price says.

stick with eth btc ltc and a few other alts with non monetary applications. basically create your own crypto etf.

[JUSTIFIED]

Far too volatile to replace fiat currency any time soon. Imagine trying to price & purchase products in a currency that fluctuates +10% or more on a given day. Not only that, lose your keys and you lose your money. Account at Coinbase gets hacked, you lose your money. Your computer gets hacked... you lose your money. Zero insurance.

There will be a correction and the majority of these will be wiped out just like the .net bubble burst in 2000. If you know which one will survive, then load up. That said, some of them will survive and will likely have their place.

[peterpl]

These are the only ones you need

ADA
STR
TRX
BCN
IOTA

Just chuck $5k into each and it will be worth $30k each in 6 months. In the last 2 days its been crazy. Market is down today so best time to buy and load up. Buy the dips

[TC94]

Originally Posted by JUSTIFIED

Far too volatile to replace fiat currency any time soon. Imagine trying to price & purchase products in a currency that fluctuates +10% or more on a given day. Not only that, lose your keys and you lose your money. Account at Coinbase gets hacked, you lose your money. Your computer gets hacked... you lose your money. Zero insurance.

There will be a correction and the majority of these will be wiped out just like the .net bubble burst in 2000. If you know which one will survive, then load up. That said, some of them will survive and will likely have their place.

It’s an unfortunate naming choice. Some in the industry are floating out the term “cryptoassets” in place of cryptocurrency to more accurately describe the overall field. Many of the projects aren’t designed as or intended to be financial transactional currencies but rather are blockchains with non-financial uses.

Even the term “transaction” is confusing because it implies a financial action when many transactions are actually functions like storing a record, executing defined code, completing a contract, tracking an object, etc.

https://www.coindesk.com/information...s-blockchains/