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bitcoins

E.HONDA said:
I think its all speculation and hype. BTC is the ultimate shitcoin, but it is the most popular and a household name.
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Yeah,

If nothing else, the last couple months have shown that BTC has some major issues with scaling. I suspect it will die a slow death over the next few years as this becomes more and more obvious.

BTC was promised as being fast, cheap and anonymous. Turns out once it is widely adopted it becomes none of these things.
 
Yakoo752 said:
Why does anyone use telegram? Slack is better imho
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Telegram is more geared towards mobile clients with it's popular e2e encryption. If it weren't for mobile communication, Slack ftw.

byke said:
This doesn't look like a good time to buy bitcoin or ether. They're both around their big psychological numbers and it seems like it'd be wise to wait a bit and see what the market decides. You'd buy now if you thought they were going to bounce at 10k/1k, but I'd want a little confirmation first.
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+1 Get ready for the futures close.

bpw said:
Yeah,

If nothing else, the last couple months have shown that BTC has some major issues with scaling. I suspect it will die a slow death over the next few years as this becomes more and more obvious.

BTC was promised as being fast, cheap and anonymous. Turns out once it is widely adopted it becomes none of these things.
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+1 Ethereum has it's share of issues as well but it's showing to be the superior platform at this point.
 
Yakoo752 said:
Why does anyone use telegram? Slack is better imho
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The creator of telegram is supposed to ICO soon. That’s the coin that will do well in this market. I think he and the company are holding off on the ico and token offering until things settle down a bit.
 
SteelerFanatic said:
Hm, ok, thank you!

I found https://coinsutra.com/best-litecoin-wallets/ and think I will use Exodus for now. I only have a few coins right now to try and learn this.
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Submitted the Transfer from Coinbase to Exodus. Sure wish this was real-time!

E.HONDA said:
Would anyone be interested in a barf group chat or Telegram?

Not sure if it would be easier to just keep it in this thread but thought I'd throw it out.
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Yakoo752 said:
Why does anyone use telegram? Slack is better imho
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I would be interested. +1 for Slack but mostly cause I already use it for work so it's on all my devices. lol
 
I’d like to throw discord into the mix as a chat/txt program. I got a server already if you want to use it with a Barf room.
 
Blankpage said:
Anyone have a logical reason why bitcoin is worth 10 more today than it was worth one year ago?
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Speculation is part of any investment, but Bitcoin has other reasons for the rise and value. How many stocks are trading at 20x and how many companies have yet to make a profit but are valued at Billions of dollars, Uber, Tesla, etc.?

-Bitcoin can transfer value over the internet without asking permission from a gatekeeper eliminating the need for a middleman.

-Bitcoin is looked at as more of a reserve currency to other cryptocurrencies, like the dollar is on a global level.(article on this) https://arstechnica.com/tech-policy/2017/11/how-bitcoins-became-worth-10000/


-Bitcoin has value due to the rise and demand of other cryptocurrencies. You buy these other cryptocurrencies with Bitcoin and many are based on the Bitcoin blockchain.

-Bitcoin value is also related to the cost of mining.

I like this blurb from an article:
https://psmag.com/economics/why-bitcoins-value-could-eventually-approach-zero
"Financial institutions and private investors may turn to it because it is an uncorrelated asset: Even though its value is highly volatile, it is not negatively or positively correlated with stocks, bonds, or gold—which increases its utility as a portfolio addition. Further, those who worry about currency controls in the event of a financial crisis may increasingly see Bitcoin and other cryptocurrencies as providing a form of security that gold and other stores of value can't match."
 
So linking my curiosities together, Exodus has a slack channel that has a market-talk channel. It's pretty lively.

All kinds of things being tossed around that I don't understand. :laughing
 
jiffy said:
-Bitcoin has value due to the rise and demand of other cryptocurrencies. You buy these other cryptocurrencies with Bitcoin and many are based on the Bitcoin blockchain.

-Bitcoin value is also related to the cost of mining.
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Once upon a time, Tulips in Holland had tremendous value, because people were growing Tulips and the price rose and there was a demand.:laughing
 
Ethereum will address this when they move to proof of stake.
 
A perpetual money machine costs a lot to keep running.....who'd have thunk it? :laughing

It is rather idiotic that it takes so much energy to perpetuate these bitcoins (used as generic, not specific)...
 
And if I had a tinfoil hat, I'd say Satoshi Nakamoto worked for PGE. :laughing
 
jiffy said:
Speculation is part of any investment, but Bitcoin has other reasons for the rise and value. How many stocks are trading at 20x and how many companies have yet to make a profit but are valued at Billions of dollars, Uber, Tesla, etc.?

-Bitcoin can transfer value over the internet without asking permission from a gatekeeper eliminating the need for a middleman.

-Bitcoin is looked at as more of a reserve currency to other cryptocurrencies, like the dollar is on a global level.(article on this) https://arstechnica.com/tech-policy/2017/11/how-bitcoins-became-worth-10000/


-Bitcoin has value due to the rise and demand of other cryptocurrencies. You buy these other cryptocurrencies with Bitcoin and many are based on the Bitcoin blockchain.

-Bitcoin value is also related to the cost of mining.

I like this blurb from an article:
https://psmag.com/economics/why-bitcoins-value-could-eventually-approach-zero
"Financial institutions and private investors may turn to it because it is an uncorrelated asset: Even though its value is highly volatile, it is not negatively or positively correlated with stocks, bonds, or gold—which increases its utility as a portfolio addition. Further, those who worry about currency controls in the event of a financial crisis may increasingly see Bitcoin and other cryptocurrencies as providing a form of security that gold and other stores of value can't match."
Click to expand...

I would argue that since BTC is not a company the Tesla/Uber comparison does not apply. Buying tokens is not the same as buying stock in a company. Someone else using blockchain doesn't increase BTC value in any way, if anything it decreases it if it is a competing currency. I think XRP is the biggest example of people confusing this, Ripple stock could be a really good buy (but isn't for sale), but that doesn't mean XRP will necessarily have any value.

Lack of middleman is both a good an bad, for many average consumers it is not a good thing since it makes fraud and costly mistakes a lot easier. Most people need protection of their money, hence paypal/credit cards being a lot more popular than direct transfer of money for paying for things online.

Cost of mining is not really relevant to value, kinda like "custom" choppers with $50,000 "invested". In many ways BTC is worse than the chopper, since it is divisible. In theory the system would work if there was only one BTC in the world.

I suspect BTC is quite heavily correlated to general market moves, if there wasn't so much money sloshing around looking for a home I highly doubt BTC would have jumped so much in value.
 
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