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bitcoins

panthera said:
That's not what I see. I see consolidation and shaking out of weak hands. We are at break even for the last 24 hours. Time will tell.
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You've been saying that at every new low! Hopefully you are buying more.:thumbup
 
E.HONDA said:
I'm not a fan at all of bitcoin. It is the pioneer but it is very outdated. I think that once ETH passes it for market cap it will just sink deeper and deeper. ETH is the future of crypto.
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This all day. BTC has a kung fu grip on the market. It can be very hard to buy other coins without first buying btc.

I would love to see BTC crash and die. Alts rise and then btc come screaming back later in the year.
 
afm199 said:
You've been saying that at every new low! Hopefully you are buying more.:thumbup
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I have already said buy the dips. I always have low orders in. I also trade sometimes to increase the amount of bitcoins I have. I shouldn't have to choreograph my every move but I do sometimes for transparency. I'm putting my money where my mouth is. Next I'm hoping this is the stock market downturn I envisioned earlier this year so I can pick my re-entry point. The gold I purchased in June is looking good also. Crypto is just a small part of my portfolio.
 
panthera said:
That's not what I see. I see consolidation and shaking out of weak hands. We are at break even for the last 24 hours. Time will tell.
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The way I saw it was that somebody(s) sold to drop it then bought at the new low which bounced it back up. The people who initiated it probably made out quite well and had the buy already planned and improved their position with a nice increase in holdings to go along with it. On the flip side, somebody had to lose in order for those others to gain...
 
panthera said:
I have already said buy the dips. I always have low orders in. I also trade sometimes to increase the amount of bitcoins I have. I shouldn't have to choreograph my every move but I do sometimes for transparency. I'm putting my money where my mouth is. Next I'm hoping this is the stock market downturn I envisioned earlier this year so I can pick my re-entry point. The gold I purchased in June is looking good also. Crypto is just a small part of my portfolio.
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Don't trip on the posts calling you out. Do you're thing.

What do you all think of this video? I like Kubera. His smugness cracks me up.
[youtube]VvBVDmNydzI[/youtube]
 
^ Listening to that guy describe 30% drops as a positive is kinda weird.

1:05

"I saw my portfolio go down 50-70 thousands dollars! I'm really excited about that!"

LOL ok dude. Glad you aren't stressin...
 
You won't be stressing if you actually believe this technology is here to stay. You rejoice when there is a downturn because it shakes out the week handed speculators and you can get more cheaper than the day before. True believers love the pull backs for many reasons that baffle folks that don't understand this and the problems it solves.
 
Maybe I am dense, but why do people think broad acceptance of blockchain will have any relevance to the value of crypto currency?
 
bpw said:
Maybe I am dense, but why do people think broad acceptance of blockchain will have any relevance to the value of crypto currency?
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Yeah this is what I don't get either.

The tech is great and can be useful.

BTC specifically seems pretty useless to me. The value is purely speculative.
 
bpw said:
Maybe I am dense, but why do people think broad acceptance of blockchain will have any relevance to the value of crypto currency?
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Any decentralized system needs people to run nodes. Why would anyone run a node for free. The incentive is the crypto currency. Miners have hardware and electrical costs. Also the value comes from having no central authority that can manipulate price and print more. This is a trustless system. For bitcoin it's a finite number that will ever be in existence. You may not get it (not directed specifically to you) but there are whole towns that accept nothing but crypto and some countries that are recognizing it as an official currency. This back and forth is only going to bring up more questions for you. It is best, if you are interested, to do a little digging online. When you have a question just google it. All of this is open and transparent. From all wallets being visible with balances to the open source protocol that run everything. If you are smart enough you can change the code if the community finds value in it.
 
^ Haven't we seen "whales" manipulate price already? Are there two phenomenon going on here, one is pure greed and speculation resulting in the "bitcoin bubble" and the other is a new type of currency divorced from a nationality?

I have a tiny bit of knowledge about the history of currency, check out tally sticks for a hoot, so I'm not poo-pooing the idea of an alternate currency.
 
There is an argument that the dollar is in a bubble. If so are you going to stop using it. I use bitcoin every day. I really don't care what the usd price is. I regularly convert my fiat to crypto then spend said crypto whenever and where ever I want. Limit your downside buy and converting regularly and using instead of the corrupt system we have in place now. That's how I see it. I already know of people putting their kids through school using ethereum.
 
panthera said:
There is an argument that the dollar is in a bubble. If so are you going to stop using it. I use bitcoin every day. I really don't care what the usd price is. I regularly convert my fiat to crypto then spend said crypto whenever and where ever I want. Limit your downside buy and converting regularly and using instead of the corrupt system we have in place now. That's how I see it. I already know of people putting their kids through school using ethereum.
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Um ok. I feel like you are talking past me. I'm sympathetic to the argument that fiat currency can be manipulated. What I'm not sold on is that crypto can't be manipulated. I don't feel like a get a straight answer to that question. You HAVE to care what the value of your crypto currency is if you are going to use it every day don't you? My groceries are still priced in dollars. If it takes 100 bitcons to purchase a loaf of bread and I only have 3 of them, I need to care about what they are valued at.
 
panthera said:
Any decentralized system needs people to run nodes. Why would anyone run a node for free. The incentive is the crypto currency. Miners have hardware and electrical costs. Also the value comes from having no central authority that can manipulate price and print more. This is a trustless system. For bitcoin it's a finite number that will ever be in existence. You may not get it (not directed specifically to you) but there are whole towns that accept nothing but crypto and some countries that are recognizing it as an official currency. This back and forth is only going to bring up more questions for you. It is best, if you are interested, to do a little digging online. When you have a question just google it. All of this is open and transparent. From all wallets being visible with balances to the open source protocol that run everything. If you are smart enough you can change the code if the community finds value in it.
Click to expand...

The internet is decentralized and people running nodes (servers) are paid in fiat. Could just as easily run a blockchain system the same way.

You just explained cryptocurrency, but why does the use of blockchain require crypto to even exist?

Blockchain is a brilliant piece of code that will likely see widespread use, I fail to see how this requires or increase the value of a cryptocurrency.

The most obvious example of this is Ripple selling thier blockchain systems to banks, but the banks don’t use xrp.
 
You know I'm not here to convince you. Everything is online. And server farms are centralized. What companies do you think are decentralized?
 
I don’t need convincing, I am looking for the answer to an essentially technical question.

Why does blockchain usage have any relevance to the value of any particular cryptocurrency? Why do blockchain tokens require a value?

Paying nodes doesn’t require that since the nodes could just as well be paid in fiat (or be privately held by the company running the blockchain system)

I understand increased use of a particular crypto could increase the value of a particular crypto, but how will increased usage of blockchain lead to increased usage of cryptocurrency?

The massive amounts of bullshit around crypto make google less than useful, hoping someone here has a deep enough understanding of the tech to explain.
 
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