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Crypto Questions for Dummies
Posted on 1/16/18 at 8:40 pm
Posted on 1/16/18 at 8:40 pm
Being honest ...I? don’t feel like reading through tons of threads so got a few crypto currency questions... some buddies are trying to get me to buy but they sound like sheep.
1. Long term outlook? What do you think will happen
2. What is going to happen when every country regulates (you know this will happen)
3. Is It more of a “game” for people?
1. Long term outlook? What do you think will happen
2. What is going to happen when every country regulates (you know this will happen)
3. Is It more of a “game” for people?
3
Posted on 1/16/18 at 9:26 pm to greenwave
You should buy PerfectCoin
Every 24 hours I throw a piece of paper with a random 300 number code out the front door.
It’s fun watching the miners chase it when it’s windy.
Every 24 hours I throw a piece of paper with a random 300 number code out the front door.
It’s fun watching the miners chase it when it’s windy.
Posted on 1/16/18 at 9:43 pm to greenwave
quote:
1. Long term outlook? What do you think will happen
Coins that do nothing intrinsically will fade out. Coins that solve problems or are needed to use infrastructure that solve problems will increase in value.
quote:
2. What is going to happen when every country regulates (you know this will happen)
Regulation is acceptance. Less 1000% gainz but less 1000% drops.
quote:
3. Is It more of a “game” for people?
It is for me. It's like playing the lottery every day but one you can alter the odds in your favor.
Posted on 1/16/18 at 9:47 pm to Mr.Perfect
You take a check?
Posted on 1/16/18 at 9:50 pm to Tiguar
Coins that do nothing intrinsically will fade out. Coins that solve problems or are needed to use infrastructure that solve problems will increase in value.
So could the “Blockchain” or whatever it’s called technology be used for USD or any other currency in the future?
So could the “Blockchain” or whatever it’s called technology be used for USD or any other currency in the future?
Posted on 1/16/18 at 9:58 pm to greenwave
Blockchain is a technology; it does not necessarily mean to imply cryptocurrency.
Blockchain is used to handle/calculate large quantities of calculations/readings at a time.
It has utility in tracking, logistics, contracts, or any high-volume application.
VISA is rumored to be working on their own private blockchain to handle their network.
Coins like Ethereum and VEN operate on public blockchains. Currency holders are able to utilize portions of the blockchain based off their ownership of the coins. That is what gives them their value.
Blockchain is used to handle/calculate large quantities of calculations/readings at a time.
It has utility in tracking, logistics, contracts, or any high-volume application.
VISA is rumored to be working on their own private blockchain to handle their network.
Coins like Ethereum and VEN operate on public blockchains. Currency holders are able to utilize portions of the blockchain based off their ownership of the coins. That is what gives them their value.
Posted on 1/17/18 at 5:26 am to Tiguar
So could i say you are investing in the technology that backs these coins? Would a company buy that coin for its Blockchain tech? Sounds like most are developing their own.
Posted on 1/17/18 at 7:23 am to greenwave
Heck yea!!
Posted on 1/17/18 at 8:48 am to greenwave
quote:
Sounds like most are developing their own.
Yeah? Where you reading this?
Posted on 1/17/18 at 9:08 am to Tiguar
quote:
VISA is rumored to be working on their own private blockchain to handle their network.
^^
My problem is IDK if I am supposed to be thinking of Crypto's as an actual currency or a technology.. Cause if its a currency then I'm a little confused as to why I would want to invest..
Bought to go watch a TED Talk on Blockchain
This post was edited on 1/17/18 at 9:09 am
Posted on 1/17/18 at 9:30 am to greenwave
Think of it as assets.
Posted on 1/17/18 at 9:34 am to Tiguar
Pretty much every significantly sized country is either developing a private blockchain or looking to buy that from a technology provider.
Regardless of what happens to crypto, blockchain is here to stay.
Regardless of what happens to crypto, blockchain is here to stay.
Posted on 1/17/18 at 9:35 am to greenwave
quote:
^^
My problem is IDK if I am supposed to be thinking of Crypto's as an actual currency or a technology.. Cause if its a currency then I'm a little confused as to why I would want to invest..
Bought to go watch a TED Talk on Blockchain
Crypto currencies use blockchain. Blockchain is just a way to create an immutable ledger. You can absolutely use a blockchain with no crypto involvement.
Posted on 1/17/18 at 10:27 am to CorporateTiger
Absolutely. The crux is what certain alt-coins are using blockchain technology to accomplish.
Posted on 1/17/18 at 11:57 am to Tiguar
So what happens when everyone creates their own block chain and people realize that these coins aren't needed? Just like everyone just realized that the XRP coins have absolutely nothing to do with firms utilizing the ripple technology
Posted on 1/17/18 at 12:02 pm to greenwave
I can't really comment on crypto valuations but one thing to keep in mind is that hardware has been completely compromised. There is no way to secure your crypto. This doesn't even get into the hacks that have happened to the encryptions used many cryptos.
A password does nothing to protect your crypto when the hardware is stealing that data.
A password does nothing to protect your crypto when the hardware is stealing that data.
Posted on 1/17/18 at 12:25 pm to notsince98
quote:
crypto valuations but one thing to keep in mind is that hardware has been completely compromised
Can you elaborate?
Posted on 1/17/18 at 1:07 pm to Pigimus Prime
He is probably talking about the security flaw recently discovered in all computers.
Simple answer is an offline wallet for your private keys such as a Nano Ledger S
Simple answer is an offline wallet for your private keys such as a Nano Ledger S
Posted on 1/17/18 at 2:49 pm to Captain Crackysack
There’s a reason people call them shitcoins
Posted on 1/17/18 at 2:59 pm to TigerTatorTots
quote:
Simple answer is an offline wallet for your private keys such as a Nano Ledger S
So, it's stored physically airgapped from the compromised processors. Now, how do you use that key without connecting it to the computer and reading it into the compromised processor or manually typing it into the keyboard and inputting it into the compromised processor?
The chances of your keys getting stolen are very slim because the easy to close attack vectors are being or have been closed, but there's still a more difficult attack route out there. So, there's a chance your keys get lifted just like there's a chance your bank gets robbed. It's slim, but it's there.
This post was edited on 1/17/18 at 3:08 pm
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