51 replies to this topic

[orion602]

if you mean profit than sadly not, because even when i am in profit from trading in the last 6 years or so, overall I lost money due to hacked/scammed exchanges. Mt.gox and others. It will take some time for me to make it up.

But the worst thing is, that I was around when bitcoin price was sitting around $4.5 for months, I even had some, but sold them at 6 , then took a pause from crypto world for year or two.. and came back again when the record breaking prices started to make news. imagine what thousand dollars invested in 2011 would be worth now

 

but exchanging bitcoins back into real cash is no problem, there are  even bitcoin ATM machines in some countries

[Pour_la_Science]

your link is to logarithmic scale chart, i was judging from linear one https://blockchain.i...e?timespan=all ,as I don't think bitcoin price will expand exponentially

 

Even if you'll need "billions" to move the price up, I like to remember this:

The current market cap is 16 Billions $.

Other payment services like Mastercard is worth 115B$, Visa 180B$

And total gold is worth 8'000B$ (Bitcoin is 0.2% of this)

So bitcoin is still small fry apparently.

 

yeah, i have seen this somewhere as well. It took lot of time for Mastercard/visa to reach that level and its much easier to use than bitcoin.

I suspect at some point usage of other cryptocurrencies will start to increase, and we would rather have to take overall cryptocurrencies usage into account. But the question is which ones will be the winners (there are hundreds of them already). Few years ago, there was talk that litecoin will be second to bitcoin, lots of people bought into it, but now it seems almost forgotten.

its hard to imagine some coin surpassing bitcoin now, but we dont know what can happen in few years.

I hope you are right with bitcoin price rise - I have almost 1 bitcoin and plan to buy some more when i have spare funds. Im just trying not to get overexcited with unrealistic expectations. If it reaches $10 000 within 5 years , I'll be happy, but if it doesn't i will be ok with it as long as bitcoin still exists and keeps its value at least.

 

Concerning the rate of variation, Bitcoin is more mature than in 2011 or 2013 (the big rises): You can see the volatility index for example which is decreasing over time: https://btcvol.info/

 

 

there are lot of cryptocurrencies (more than 700 according to Wikipedia: https://en.wikipedia...ryptocurrencies and Bitcoin is the oldest one still in function.

I think that there probably can't be other blockchains competing. Since running only one is so huge in terms of developing work needed and computing power to secure the network. (in another domain, concerning another opensource projects like Linux, you have BSD and others but their market share is ridiculous.)

The other cryptos are interesting proof-of-concept and probably most of their advantages, if promising, could even be implemented in Bitcoin (like SegWit for example which was implemented recently into LiteCoin).

 

I don't support speculation: Buying low and selling high is not what I envision. We are in a longevity community, and I think we should think long term.
 

Edited by Pour_la_Science, 06 February 2017 - 06:24 PM.

[Maidenhead]

I think very soon real money will be lost, so I think to start investing in the crypto currency. Should I start with bitcoins? I read a lot of information on the Internet that this is the best crypto currency, proof: https://bitcoinbestbuy.com/. What do you say? Advise me how to start making money on this?

[Jiminy Glick]

Bitcoin is like beanie babies, it is just a fad. The technology can be replicated also for central banks are planning to do so. Gold is better, bitcoin will go to zero when competition increases. This could be with the introduction of a gold backed currency or just other similar currencies that make improvements. 

Edited by Jiminy Glick, 16 December 2017 - 10:10 PM.

[Jiminy Glick]

I think very soon real money will be lost, so I think to start investing in the crypto currency. Should I start with bitcoins? I read a lot of information on the Internet that this is the best crypto currency, proof: https://bitcoinbestbuy.com/. What do you say? Advise me how to start making money on this?

 

Fiat and bitcoin both aren't real money. If you want real money it has to be backed by something like gold. There are also major crackdowns coming from the government for people don't pay taxes on it. There is also major manipulation where two parties buy and sell to each other at higher prices to increase the price. 

Edited by Jiminy Glick, 16 December 2017 - 10:09 PM.

[orion602]

..

It will require very large amount of money influx into bitcoin for it to reach $10 000. In order of billions of dollars. Its not likely to happen very fast.

 

Well, well.

Looking back now, after 10 months, I can proudly admit: I was wrong

 

@Pour_la_Science: congrats to your investment

 

 

Edited by orion602, 31 December 2017 - 11:12 AM.

[kurdishfella]

bitcoins etc are useless because their value is based on real money. They don't hold their own value.  secondly, do you really want ALL -ONLY digital money that can be taken away   in an instance by hackers or corporations etc or lost easy and only accessible digitally ? AND ANYONE can create their own coin. And is kind of like a pyramid scene, only the first few make the most money and if other join they have to gamble.

Edited by kurdishfella, 14 February 2021 - 01:08 AM.

[orion22]

bitcoins etc are useless because their value is based on real money. They don't hold their own value.  secondly, do you really want ALL -ONLY digital money that can be taken away   in an instance by hackers or corporations etc or lost easy and only accessible digitally ? AND ANYONE can create their own coin. And is kind of like a pyramid scene, only the first few make the most money and if other join they have to gamble.

yea its a scam but you need to understand how this was moved first when it was first invented was a good way to trade tokens than when it got a little bigger its was used to buy drugs and shit and internet stuff im pretty sure now its being used by terrorist and people like KING JUNG Uhm to move large amount of money without anybody knowing or stopping them and that creates volume meaning if someone has to move 10 mill$ he has to buy the bitcoin yea the other end they have to sell to but the buy will always happen and besides bitcoin is a global casino now even if it does nothing the pure speculation on it can keep it up and a casino does have value its way better than old casino and the name is catchy and i don t know what can make it crash to 0 or how big will it get

 

THE most scary thing is senator can buy bitcoin than vote to force the population to use bitcoin so he can get richer as the price gets bigger so it that way bitcoin can t be stopped  it goes like this : someone buys bitcoin----->promotes it to other people because he wants bitcoin to get higher    if a company buys bitcoin now all they have to do is announce they bought and they make instant profit because the very news of it makes bitcoin go up its strategy is 100% way to make money it cant  fail and they would be crazy not to do it 

Edited by orion22, 15 February 2021 - 08:34 PM.

[kurdishfella]

personally i think bitcoins are a plot to make people use digital currency. Which is easier to control people with. And besides attempts at a bitcoin/online currency have been made way before the supposed japanse guy created it by americans but they failed because it was just too early.

[orion22]

personally i think bitcoins are a plot to make people use digital currency. Which is easier to control people with. And besides attempts at a bitcoin/online currency have been made way before the supposed japanse guy created it by americans but they failed because it was just too early.

yea i know they wanted a digital currency from the early 2000 i think the people on internet

the worst thing is bitcoin in inflating our real currency and we getting more poor if you don t have any i mean imagine if there are 2 apples  and 40 trillion$ on planet earth  and nothing else than from nowhere bitcoin comes up and says im worth 1 trillion$ (current market cap+)( +400 billion the other cypto ) and i can buy apples with it  now the 20 trillion$ has to compete with bitcoin for those 2 apples why the fuck is it legal for someone to steal from me like that this bull shit its same as coming in my house and stealing my money what happens when bitcoin goes to 10 trillion market cap or 20 trillion market cap 

Edited by orion22, 20 February 2021 - 07:25 AM.

[Oakman]

personally i think bitcoins are a plot to make people use digital currency. Which is easier to control people with. And besides attempts at a bitcoin/online currency have been made way before the supposed japanse guy created it by americans but they failed because it was just too early.

 

You seem to be under the mis-assumption that we don't already have a digital currency... that "is easier to control people with".

 

Bretton Woods System and 1944 Agreement > https://www.thebalan...eement-3306133#

 

That agreement made the dollar the de facto world currency, not backed by gold. Some said it was worthless at the time with no backing. Sounds like bitcoin? Since then, the US has limited the (legal) use of its cash drastically. Have you ever tried to deposit in a bank a large sum of paper currency? Or a check over $10K?

 

So we (pretty much) all have gone to use credit cards and online banking using (surprise) US digital money, otherwise know as bits of data being transferred between financial entities. Sounds like a digital currency to me. So if the 'world' now switched from the dollar to bitcoin (far safer, decentralized, and accountable) digital currency, so what? What would change? Not much.

Edited by Oakman, 20 February 2021 - 01:55 PM.

[orion22]

 

You seem to be under the mis-assumption that we don't already have a digital currency... that "is easier to control people with".

 

Bretton Woods System and 1944 Agreement > https://www.thebalan...eement-3306133#

 

So if the 'world' now switched from the dollar to bitcoin (far safer, decentralized, and accountable) digital currency, so what? What would change? Not much.

 

sure let me buy bitcoin at 10 cents as the first guys who bought it and im in for the switch and i won t call it a scam anymore

if bitcoin goes to 1 bill$ a  coin and goes to replace fiat money they will just replace it with another crypto that they pull out of they re as s in 3-4 years

if they replace money with bitcoin il rather trade in potatoes  or rabbits than use piss of trash scam

bitcoin is a first come first served currency imagine when they made the $ they said by the way guys sorry but Mr x came first so he got 10% of all the $ just because he was first now you all have to be  hes bit ch 

Edited by orion22, 20 February 2021 - 06:06 PM.

[Oakman]

sure let me buy bitcoin at 10 cents as the first guys who bought it and im in for the switch and i won t call it a scam anymore

if bitcoin goes to 1 bill$ a  coin and goes to replace fiat money they will just replace it with another crypto that they pull out of they re as s in 3-4 years

if they replace money with bitcoin il rather trade in potatoes  or rabbits than use piss of trash scam

bitcoin is a first come first served currency imagine when they made the $ they said by the way guys sorry but Mr x came first so he got 10% of all the $ just because he was first now you all have to be  hes bit ch 

 

These express some typical emotional objections to digital currency. The reason that tokens, such as bitcoin, will replace current currencies is the blockchain. Study up some on the blockchain and the uses and advantages over fiat currencies transactions and you'll 'get' why the current flood of digital currencies, dominated by Bitcoin and Ethereum at the moment, is set to change the world of finance.

[orion22]

These express some typical emotional objections to digital currency. The reason that tokens, such as bitcoin, will replace current currencies is the blockchain. Study up some on the blockchain and the uses and advantages over fiat currencies transactions and you'll 'get' why the current flood of digital currencies, dominated by Bitcoin and Ethereum at the moment, is set to change the world of finance.

i been reading it since bitcoin was 80$ and i didn t like bitcoin than i don t like it now now that its 57k been tryng to make my own crypto currency but all my programmer friends said they don t have the time to help

 

 

Edited by orion22, 20 February 2021 - 07:54 PM.

[Oakman]

 

i been reading it since bitcoin was 80$ and i didn t like bitcoin than i don t like it now now that its 57k been tryng to make my own crypto currency but all my programmer friends said they don t have the time to help

 

 

That's all well and fine, you were certainly ahead of the game by reading about it in prior years, but the question I asked was, "Do you understand blockchain technology and its implications for global finance?"

[orion22]

That's all well and fine, you were certainly ahead of the game by reading about it in prior years, but the question I asked was, "Do you understand blockchain technology and its implications for global finance?"

yea i do but this is a bitcoin thread not a blockchain i love blockchain hate bitcoin to be clear i hate the idea of replacing my money with another currency and making me pour in the process and this crypto people are pushing bitcoin not blockchain they just want to get rich they didn t buy because its blockchain

and if the code of bitcoin was more efficient like nano is another crypto i would have been ok with it buy today the transaction fee for bitcoin is 26$ per transaction 

Edited by orion22, 22 February 2021 - 07:57 PM.

[Oakman]

yea i do but this is a bitcoin thread not a blockchain i love blockchain hate bitcoin to be clear i hate the idea of replacing my money with another currency and making me pour in the process and this crypto people are pushing bitcoin not blockchain they just want to get rich they didn t buy because its blockchain

and if the code of bitcoin was more efficient like nano is another crypto i would have been ok with it buy today the transaction fee for bitcoin is 26$ per transaction 

 

What do you think of BSV for efficiency and cost?

[orion22]

What do you think of BSV for efficiency and cost?

9000 transaction per second but community seams to hate it "not cool as bitcoin" not sure how secure it is 

i don t see much use for crypto i don t like DIFI or other similar stuff 

when i was a child i use to do lots of trading with trading cards at school and collect them if someone would put that on a cypto with 0 fees they can go around the copyright laws and release it anonymous i think this is the only use for crypt like some YU-GY-OH digital cards with limited supply of rare cards that you can only  use on the yu-gy-oh games that are running on illegal private servers (Duellbook and Project Ignis)

the current NFT projects(digital collectable) i think they will fail they have no use and the fees to transfer data will be to much

what i would like to see though is a coin backed by stocks like they keep the stock that produces dividend and they give me the token to buy bread and other stuff and 10$ worth of that coin =10 $ of the stock they keep so like a Teather but backed by a stock like IBM  instead of the $  

[Cutler]

I was very interested in the Cosmos blockchain and heard that there is something like Cosmos RPC. Can you tell me how it works and how I can start working with it for my projects?

[T-rock77]

Ah, Cosmos RPC, yes, cool stuff! This is essentially an interface for interacting with the cosmos rpc directly from your application. To get started, you need to connect to the Cosmos node via RPC. To do this, find a node to connect to, or deploy your own. The Cosmos documentation has everything you need for this: from configuration to a list of available RPC commands. Use these commands to query the blockchain, such as getting information about blocks or transactions. If anything happens, you can always ask for advice in the Cosmos community - the guys there are helpful. Good luck with your projects!

 

Edited by T-rock77, 18 March 2024 - 09:44 AM.

[adamh]

So, all those people saying it was just a fad missed out on a fortune. How do they feel about it now? Probably still saying it will all vanish. Buffet is a great investor but he missed out too. He still says it will go to zero. People have sour grapes because they didn't invest. Put $100 in 2011 and many millions today

 

It goes up and down, has an occasional crash but the trajectory is up. Put $100 in today and in a few years it may be worth thousands. Physical cash is what you don't want to have too much of. Put it into something that will appreciate

[Mind]

It turned out to be a lasting medium of exchange, although a bumpy ride, with a lot of fraud in the other alt-coins.