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re: Where is your BitGod now?
Posted on 2/7/18 at 8:00 am to SlowFlowPro
Posted on 2/7/18 at 8:00 am to SlowFlowPro
quote:
people who attack cryptos do have some merit b/c of the recent insanity, but they fail to see the long-term, big picture
The long term picture is quite clear - the vast majority of current cryptos will be worthless in the future. This is, by and large, similar to DVD vs Laserdisc, albeit on a bigger scale.
Unfortunately, most cryptos are highly correlated, which implies they're all going to survive or die together, and that's simply not the case.
It's likely there will be a winner or two, and it's entirely plausible to make lots of money in the short term on coins that will eventually be worthless, but someone will be left holding the bag.
2
Posted on 2/7/18 at 8:02 am to SlowFlowPro
quote:
b. the glory of cryptos is that if governments regulate certain types, a new one will be created to circumvent the regs. the government simply cannot adapt fast enough to overtake the technology (Which is why a, above, occurred
You're not wrong, but that isn't a vote of confidence for the currency that's regulated. It's the beauty of crypto as a tech, but it's terrifying for an investor.
This post was edited on 2/7/18 at 8:16 am
Posted on 2/7/18 at 8:03 am to slackster
you're speaking about the short term, investment side
the long term, tech side is a completely different concept
and honestly, as long as there are easily-accessible public exchanges, there may not be a traditional oligopoly of currency
the ability to communicate and interact today makes old paradigms antiquated. yes, there will be culling, but never before have people been able to interact the way they can now. if the transfer is instant, if we're talking 5000 USD or 1 BTC or 10 ETH, what does it matter? a fluid system can scale infinitely today.
the long term, tech side is a completely different concept
and honestly, as long as there are easily-accessible public exchanges, there may not be a traditional oligopoly of currency
the ability to communicate and interact today makes old paradigms antiquated. yes, there will be culling, but never before have people been able to interact the way they can now. if the transfer is instant, if we're talking 5000 USD or 1 BTC or 10 ETH, what does it matter? a fluid system can scale infinitely today.
Posted on 2/7/18 at 8:04 am to slackster
quote:
You're not wrong, but that isn't a vote of confidence for the country that's regulated. It's the beauty of crypto as a tech, but it's terrifying for an investor.
i only care about the long-term potential and the tech
the more people try to see cryptos as an investment, the longer it will take for cryptos to advance into more stable currencies
Posted on 2/7/18 at 8:08 am to slackster
There will be more than one or two "winners."
The application of the tech is unlimited. It would be like saying there will only be one or two public corporations that will succeed because they'll just provide every conceiveable service.
Many will certainly fail, but that is not unlike normal business.
The application of the tech is unlimited. It would be like saying there will only be one or two public corporations that will succeed because they'll just provide every conceiveable service.
Many will certainly fail, but that is not unlike normal business.
Posted on 2/7/18 at 8:14 am to GRTiger
quote:
The application of the tech is unlimited. It would be like saying there will only be one or two public corporations that will succeed because they'll just provide every conceiveable service.
What can bitcoin do? Where can it specifically be applied?
I understand the tech, so no need to rehash that. I'm asking specifically what Btc can do that other coins can't?
Posted on 2/7/18 at 8:17 am to slackster
Not much. You're framing the discussion around something I'm not talking about or arguing a point I'm not making. BTC has a limited future, IMO.
That doesn't make your "one or two winners" comment correct.
That doesn't make your "one or two winners" comment correct.
Posted on 2/7/18 at 8:21 am to GRTiger
quote:
Not much. You're framing the discussion around something I'm not talking about or arguing a point I'm not making. BTC has a limited future, IMO.
That doesn't make your "one or two winners" comment correct
Fair enough. I'm not being literal about one or two, but I legitimately believe only a handful will have any long term value.
The applications for the tech are endless, but anyone can use the tech too. And anyone can create their own currency.
Posted on 2/7/18 at 8:28 am to slackster
quote:
but anyone can use the tech too. And anyone can create their own currency.
Definitely, and many will. But companies could build their own computing components, or data centers, or operating systems. But their are hundreds of companies that do this for others. I can see this progressing similarly. Especially for cryptos that create ecosystems that businesses need to operate in to business with their partners.
Posted on 2/7/18 at 8:29 am to slackster
You could already create your own currency with a computer and a good printer.
The only difference is this bitcoin version is handy for laundering drug money.
The beauty of laundering heroin money is they don't care as much about ups and downs.
The only difference is this bitcoin version is handy for laundering drug money.
The beauty of laundering heroin money is they don't care as much about ups and downs.
Posted on 2/7/18 at 8:31 am to CelticDog
quote:
You could already create your own currency with a computer and a good printer.
The only difference is this bitcoin version is handy for laundering drug money.
Posted on 2/7/18 at 8:33 am to TH03
quote:
You could already create your own currency with a computer and a good printer. The only difference is this bitcoin version is handy for laundering drug money.
I understand your need to laugh at about anything. It is healthy. Hope you are hanging in there.
Posted on 2/7/18 at 8:35 am to Thib-a-doe Tiger
I don't know what people are freaking out about
I'm still up on BTC, ETH, and LTC
I'm still up on BTC, ETH, and LTC
Posted on 2/7/18 at 9:45 am to GRTiger
quote:
The application of the tech is unlimited.
Use your BTC and blockchain to cut my grass
Posted on 2/7/18 at 10:04 am to Thib-a-doe Tiger
quote:
Use your BTC and blockchain to cut my grass
You're a derpy son of a bitch.
This post was edited on 2/7/18 at 10:06 am
Posted on 2/7/18 at 10:12 am to GRTiger
quote:
GRTiger
I KNOW that there is a 9832745 page thread about the BTC market etc...I WANT to understand a little more completely about something...
Coca cola sells soft drinks
A-B sells beer
Walmart sells everything...
That produces the income stream that allows them to operate and gives value to their stock. (Simplistic, I know...but for this question, just settle there)
What is the product that is BTC? I am vaguely aware of the algorithms that are being solved by 'miners' that are part of computations...are these endless?
Outside of at least 25 IQ points, 7 figure portfolio and a huge hog leg for a cock, what am I missing?
Briefly if possible.
Posted on 2/7/18 at 10:13 am to Thib-a-doe Tiger
2 events fundamentally altered the Crypto space. 1. Charlie Lee sold all of his Lite Coin, just coincidentally of course. It's shown that when Founders publicly dump their coins, the market panics. 2. Coinbase unexpectedly dropped Bit Coinbase cash and just happened to disable trading when the price went nuts (cough insider trading cough). As much as fundamentalist don't want exchanges to have power, Coinbase shows us that as the largest exchange in the US, they have significant influence on the market. The technology is great but execution is just meh right now. It will come back but I think outside influences will drive the price more and more. It's a volatile situation. Bitcoin futures aren't helping. High risk, high reward potential. Don't invest what you can't afford to lose and ignore it for a while. We are witnessing the birth of a new asset class and birthing isn't pretty.
Posted on 2/7/18 at 10:24 am to LCA131
even if someone is just using it as a short term investment, you easily could have gotten back in and just made a couple of grand in a short amount of time.
Posted on 2/7/18 at 10:25 am to Thib-a-doe Tiger
Probably on the fly bridge of his viking headed to the bahamas with the radio blasting and girls tanning on the bow.
Posted on 2/7/18 at 10:26 am to dgnx6
quote:
even if someone is just using it as a short term investment, you easily could have gotten back in and just made a couple of grand in a short amount of time.
OH...OK? Did you even read the question?
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