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Do you think cryptocurrencies are the future?

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Understand that it is a setup as a windfall for market manipulators who pump up the value just enough to entice the uninformed to move in ... once the "pump" gets the price hiugh enough, they will "dump" leaving all the noobies witha fat loss.
 
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If you don't trust the government, the fed, or the banks then crypto is a great solution.
Even less is known about the whales of crypto or the numerous shady exchanges. If you don't trust the government, the fed or the banks, crypto isn't the cure-all for tinfoil hat wearers, although some treat it as such.
 
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Understand that it is a setup as a windfall for market manipulators who pump up the value just enough to entice the uninformed to move in ... once the "pump" gets the price hiugh enough, they will "dump" leaving all the noobies witha fat loss.
Investing 101
 
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numerous shady exchanges
Honestly, in this day and age why go to a shady exchange at all? Coinbase and the like are as reputable as Paypal.

The "shady garage operated exchange" crap is largely illegal since Mt Gox, and pretty uncompetitive with the above anyways. That eras long gone.
 
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? Thinking I might have missed something...
Google it.

EDIT:

Sorry, that was unhelpful. I am experiencing family drama right now and in a bad mood.

Start here:

https://en.m.wikipedia.org/wiki/Mt._Gox

In short, backyard exchange that exploded in size, couldn't cope, lost tons of bitcoin, shutdown, and spurred tons of "never again" legislation internationally.
 
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Google it.
EDIT:
Sorry, that was unhelpful. I am experiencing family drama right now and in a bad mood.
Start here:
https://en.m.wikipedia.org/wiki/Mt._Gox
In short, backyard exchange that exploded in size, couldn't cope, lost tons of bitcoin, shutdown, and spurred tons of "never again" legislation internationally.
Ah. For a sec I thought it was a typo. Like Mr. Gox. Thnx for the link.
 
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Ah. For a sec I thought it was a typo. Like Mr. Gox. Thnx for the link.
Fun fact: It's actually short for "Magic The Gathering Online eXchange." Before bitcoin, they dealt in used trading cards.

Totally legit operation, obviously.

To this day the bankruptcy proceedings for them are the de facto only letter I have ever gotten from Japan, and were all in incomprehensible Japanese. My mom at first thought INTERPOL was after me since it was indecpherable and froma a circuit court in Tokyo. Good times.
 
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To get on topic....:).

Do you think Cryptocurrencies are the future?

No, I believe they are nothing more than a symptom of the present.

Again...Extraordinary Popular Delusions and the Madness of Crowds. A must read.

BTC looks just about ready...

Best Regards,

Liquid Cool
 
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To get on topic....:).

Do you think Cryptocurrencies are the future?

No, I believe they are nothing more than a symptom of the present.

Again...Extraordinary Popular Delusions and the Madness of Crowds. A must read.

BTC looks just about ready...

Best Regards,

Liquid Cool
even if BTC does become a thing it will be heavily regulated, so if walmart wants to pay its employees in bitcoin, IRS still going to tax x percentage, etc. at this point its just a lottery on its value, and the moment it becomes heavily regulated it no longer will have possibility of major value increase. i think 11k is BTC peak now, most people refuse to buy into something if it sounds like oh you can drop 5 grand and still only orn .41 worth of a single coin... most people just don't think that way, even though to us it doesn't matter. BTC had its two major rises largely in part to hype, media, and a cheap buy in with rapidly increasing high payoff... then boom crash... 10k might be its steady point though. i think its the max as well though.

also, quantum computing is moving faster than anyone ever thought, will be interesting to see if it really can hack/mess up cryptocurrencies in 10 years time, etc. one of the benefits of fiat is it its embedded in a massive monstrosity called the bureaucracy... quantum snuggled with einstein and still decided not to mess with that chick at the bar... :D
 
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Lynx...I started in the financial world at six years old...that is five decades ago. I've since been forced to retire due to my health.

That doesn't keep me from a lifelong interest in market bubbles. I don't look at the fundamentals of a bubble, just the technical's. The math speaks to me louder than cries of any form of legitimacy.

Afterall, in the tulip bulb mania of 1636-7...how did someone convince their wife to purchase a tulip bulb for a years wages? :)

"I think 11k" "10k might". This is the problem with opinions. We base them on our own experience and assumptions. Most of us make just about every decision in our life based on assumption. Yet do not even realize it. Scary stuff...

All stories aside...If we wait patiently just a short while longer...I "am assuming" based on many years of experience...BTC will tell us exactly what it intends to do. It is at that juncture...where an opinion based on facts can be assessed. For me...I've never seen an ounce of intrinsic value here and didn't give it a second thought. For others...well, they can believe whatever they want to believe.

I've never felt intelligent enough to tell other people what they should do with their own hard earned capital. I developed this "opinion" when being lambasted about religion. I was watching the spit coming out of this gentlemen's mouth as he was telling me I was damned to go to hell and I thought to myself...I've been a God fearing man all of my life...how does this man KNOW the mind of God and can speak for Him? He knows enough about the Bible/God/Religion to feel he can condemn another man to hell because I don't belong/comprehend/understand his particular viewpoint? Again...Scary Stuff.

It was right then and there...I realized...I don't know enough about anything to influence other men in one direction or another. It's hard enough work to be responsible for just me... :) .

Speaking of me. Again...It has been my opinion...The Cryptocurrencies are nothing more than a "Sign of the Times".

Best Regards,

Liquid Cool
 
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Theoretical quantum resistant encryption algorithms have been proposed and even developed into working models a few years ago for blockchain technology. It's all documented in open source although not really a hot topic anymore after everyone saw it was working.... and well.. no way to test it.

Banking grade encryption would fail prior to that though.
 
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Lynx...I started in the financial world at six years old...that is five decades ago. I've since been forced to retire due to my health.

That doesn't keep me from a lifelong interest in market bubbles. I don't look at the fundamentals of a bubble, just the technical's. The math speaks to me louder than cries of any form of legitimacy.

Afterall, in the tulip bulb mania of 1636-7...how did someone convince their wife to purchase a tulip bulb for a years wages? :)

"I think 11k" "10k might". This is the problem with opinions. We base them on our own experience and assumptions. Most of us make just about every decision in our life based on assumption. Yet do not even realize it. Scary stuff...

All stories aside...If we wait patiently just a short while longer...I "am assuming" based on many years of experience...BTC will tell us exactly what it intends to do. It is at that juncture...where an opinion based on facts can be assessed. For me...I've never seen an ounce of intrinsic value here and didn't give it a second thought. For others...well, they can believe whatever they want to believe.

I've never felt intelligent enough to tell other people what they should do with their own hard earned capital. I developed this "opinion" when being lambasted about religion. I was watching the spit coming out of this gentlemen's mouth as he was telling me I was damned to go to hell and I thought to myself...I've been a God fearing man all of my life...how does this man KNOW the mind of God and can speak for Him? He knows enough about the Bible/God/Religion to feel he can condemn another man to hell because I don't belong/comprehend/understand his particular viewpoint? Again...Scary Stuff.

It was right then and there...I realized...I don't know enough about anything to influence other men in one direction or another. It's hard enough work to be responsible for just me... :) .

Speaking of me. Again...It has been my opinion...The Cryptocurrencies are nothing more than a "Sign of the Times".

Best Regards,

Liquid Cool
Couldn't agree with you more. I think that is the perfect definition of what crypto is. In good and bad ways, too.

Good - I still believe there are elements to crypto that should and probably will be copied to the regular currency/transaction market.

But the biggest thing crypto contains IMO is the blockchain. Its a useful technology - not necessarily for financials but for data authenticity.

Theoretical quantum resistant encryption algorithms have been proposed and even developed into working models a few years ago for blockchain technology. It's all documented in open source although not really a hot topic anymore after everyone saw it was working.... and well.. no way to test it.

Banking grade encryption would fail prior to that though.
Yeah. Blockchain is mostly useful I think for non-financial transactions like following goods (or data) along a supply chain. In those capacities it remains 'small' enough to be a very cheap way to control and monitor things.
 
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Yeah. Blockchain is mostly useful I think for non-financial transactions like following goods (or data) along a supply chain. In those capacities it remains 'small' enough to be a very cheap way to control and monitor things.
I thought so too at first, a while ago I did do some digging into technicals and did not see blockchain as useful for much of anything which does not need to be decentralized, and turns out not many things actually do. There's a heavy cost to using blockchain in both time and energy which is intrinsic to it's engineered use case; a decentralized medium of exchange. A company thinking of using blockchain is probably better served by a standard centralized database which is multiple times more efficient. Also, using a private blockchain is pointless.

Authentification could be a use case, Microsoft is actively working on the Bitcoin blockchain as the foundation for their permanent online ID project. They chose Bitcoin for the massive computing power securing that blockchain. It'll be interesting to see how that project develops.
 
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nope, i can see my future alr good, no need for gambling on unpredicitible btc :D
 
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I thought so too at first, a while ago I did do some digging into technicals and did not see blockchain as useful for much of anything which does not need to be decentralized, and turns out not many things actually do. There's a heavy cost to using blockchain in both time and energy which is intrinsic to it's engineered use case; a decentralized medium of exchange. A company thinking of using blockchain is probably better served by a standard centralized database which is multiple times more efficient. Also, using a private blockchain is pointless.

Authentification could be a use case, Microsoft is actively working on the Bitcoin blockchain as the foundation for their permanent online ID project. They chose Bitcoin for the massive computing power securing that blockchain. It'll be interesting to see how that project develops.

I'm still not sure why I understand everyone loves blockchain in regards to copyright protection possibilities, etc. Aren't there so many transactions on the blockchain any given day its basically impossible to keep track of it all? I imagine even the IRS trying to audit someones blockchain would take months even for just a small time business owner... or is there like a search database that would show x amount of numbers related to y blockchain that was protected under Z copyright... and you can search the entire block chain for Z copyright to see if anyone stole your work? Is that the idea? I guess I don't get it.

If we ignore copyright and go into financials... I see the same problem, like its billions/trillions of recorded transactions, is it even possible to search the database to trace it all? The benefit of block chain is the ability everything is on the same record, but if that record is not searchable easily... doesn't that defeat the point? Or again... and I understanding it wrong?

@R-T-B @FordGT90Concept
 
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I'm still not sure why I understand everyone loves blockchain in regards to copyright protection possibilities, etc. Aren't there so many transactions on the blockchain any given day its basically impossible to keep track of it all? I imagine even the IRS trying to audit someones blockchain would take months even for just a small time business owner... or is there like a search database that would show x amount of numbers related to y blockchain that was protected under Z copyright... and you can search the entire block chain for Z copyright to see if anyone stole your work? Is that the idea? I guess I don't get it.

If we ignore copyright and go into financials... I see the same problem, like its billions/trillions of recorded transactions, is it even possible to search the database to trace it all? The benefit of block chain is the ability everything is on the same record, but if that record is not searchable easily... doesn't that defeat the point? Or again... and I understanding it wrong?

@R-T-B @FordGT90Concept
Blockchains can be very, very, very searchable and record every single transaction ever taken place on it. One of the biggest challenges is to conceal transactions for privacy while proving the limit of tokens exists. Meaning if Bitcoin wasn't searchable, how could the code prove only 21 million will ever exist? That's the biggest downfall of privacy alt coins like Monero, if they are private, an unlimited number of them can easily be centrally produced and no one would know except value would never rise due to inflation.

Bitcoin having the biggest amount of distributed computational power verifying the blockchain continuosly makes it the most secure of the blockchains available and attractive as proof authentification nobody can control, confiscate, or change.

Another interesting project is secure distributed AI code being worked on. The AI code itself is distributed and secure.
 
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Blockchains can be very, very, very searchable and record every single transaction ever taken place on it. One of the biggest challenges is to conceal transactions for privacy while proving the limit of tokens exists. Meaning if Bitcoin wasn't searchable, how could the code prove only 21 million will ever exist? That's the biggest downfall of privacy alt coins like Monero, if they are private, an unlimited number of them can easily be centrally produced and no one would know except value would never rise due to inflation.

Bitcoin having the biggest amount of distributed computational power verifying the blockchain continuosly makes it the most secure of the blockchains available and attractive as proof authentification nobody can control, confiscate, or change.

Another interesting project is secure distributed AI code being worked on. The AI code itself is distributed and secure.
Can you give me an example of how bitcoin can be searched? where. how?
 
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OMG. Necroposting about a necrosubject.

There's really no need to spend so much time thinking if crypto is the future and ask other people who don't know as well.

The single important question here is: what problems does a cryptocurrency solve?
And once you find one (good luck), you have to estimate how much money can be earned from it.
You'll still waste time, but at least the approach will be correct.

Blockchain, i.e. a consistent distributed data storage, is here to stay, but we won't notice it in everyday life.
 

las

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Haha, no. Crypto is already dead.

I always laugh when I think back when McAfee claimed BTC would be 1 million by 2020.

I know so many people that lost thousands of dollars. People bought them up (while McAfee and everyone praising BTC, were selling hahaha)
 
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I am wondering whether I should invest or not. Everyone is talking about it but I am a bit scared. If I can't feel the money I will stress out. My question is do you think that this trend will last long and is it a good idea to invest or not?

PS I don't know much about it, I have yet to get the hang of it so excuse me if you find my question stupid.
Read This:


Also I recommend "The Little Bitcoin Book" on Amazon. If you aren't willing to put in the effort to read a little about something you say you think may be "big," then I would argue you shouldn't bother.

Haha, no. Crypto is already dead.

I know so many people that lost thousands of dollars. People bought them up (while McAfee and everyone praising BTC, were selling hahaha)
^Wow, this comment won't age well. Every single year the Bitcoin low has been higher than the previous year (including this year kids). Not saying Bitcoin is immortal or will last forever (nothing does), but it's an objective fact that Bitcoin is the opposite of dead.
 
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