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bitcoins

bpw said:
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.
Click to expand...

There are private and public blockchains. It seems the better tech is being tokenized by the companies producing them and they can offer their expertise and services to implement those chains. Hence the coin associated with that company tends to increase with use and adoption. Here is a decent article.

https://singularityhub.com/2017/12/24/what-does-cryptocurrency-have-to-do-with-blockchain-anyway/
 
bpw said:
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.
Click to expand...

see if these help
https://medium.com/@pavelkravchenko/does-a-blockchain-really-need-a-native-coin-f6a5ff2a13a3

https://www.forbes.com/sites/bernar...-you-need-to-know-in-10-minutes/#d3d6acf6c557
 
panthera said:
This is not true. Here is a reddit post that may or may not help enlighten you about the subject in which you speak.
https://www.reddit.com/r/Ripple/comments/7pgvyc/heres_how_and_why_xrp_will_be_used_by_banks/
Click to expand...

Did you read that post? The very first line says banks don’t have to use xrp and not all do....

It’s an argument for why banks might use xrp, could be a good argument, could be wrong. Quite a few other posts in that thread point out some issues with the original posts claims.

Here is a link to actual journalism about the subject, that says hardly any banks are using xrp, despite using Ripples ledger technology. https://www.bloomberg.com/news/arti...bitcoin-for-banks-if-only-the-banks-wanted-it
 
bpw said:
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.
Click to expand...

Meanwhile, there are other technologies that are already showing promise as being far better than blockchain. Like Hashgraph, for instance.
 
E.HONDA said:
I agree to a degree that there is massive market manipulation. Where did you get the $1k price though?

There are tons of pump and dumps within crypto and even more Ponzis. However I believe greatly in blockchain tech. To put a blanket "ponzi" label on it is a bit ignorant though as that would be like saying the internet is a ponzi. It is just technology, how people use/perceive it or put a price to it is another story.
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I didn't call blockchain tech a Ponzi. I called bitcoin (and most if not all these other digital tokens) a Ponzi.

Cryptos are the trap and I think blockchain is the bait.

When we see the authorities launch their official crypto, I don't even think it will utilize blockchain... I think it will use a tech that is far faster, more secure and potentially more equitable than blockchain.
 
bpw said:
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.
Click to expand...

I'm not sure you understand the connection between ripplenet and xrp.
 
redruM said:
Meanwhile, there are other technologies that are already showing promise as being far better than blockchain. Like Hashgraph, for instance.
Click to expand...

Hashgraph is an interesting technology, but it only works in close echosystem where all nodes are trusted. Which might be fine in internet financial institutions environment.
 
Entoptic said:
I'm not sure you understand the connection between ripplenet and xrp.
Click to expand...

Xrp is required for users of xrapid liquidity service, but not required for Xcurrent.

Xcurrent is ripples money transfer service that some banks are using. Essentially none are using the liquidity service.
 
UDRider said:
Hashgraph is an interesting technology, but it only works in close echosystem where all nodes are trusted. Which might be fine in internet financial institutions environment.
Click to expand...

Precisely.

Again - the thought of grass roots economic revolution is valiant and all, but the many-centuries-old global oligarchy will never allow it. All the world's a stage... and they own/control it all - the theater, the production, the actors, the concession stand and the paying audience.
 
jiffy said:
What do you want to know or learn about Bitcoin? Find it at the link...see you in a week.

https://lopp.net/bitcoin.html
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A week? Damn you read fast.


Here is a bill by senators that would make tokens exempt from securities laws.
https://www.trustnodes.com/2018/01/...troduce-bill-exempting-tokens-securities-laws

The eight page accessible and very readable bill says: “A developer or seller of an open blockchain token shall not be deemed the issuer of a security… if the token has not been marketed by the developer or seller as an investment; the token is exchangeable for goods or services; and the developer or seller of the token has not entered into a repurchase agreement of any kind or entered into an agreement to locate a buyer for the token.”
 
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bpw said:
Xrp is required for users of xrapid liquidity service, but not required for Xcurrent.

Xcurrent is ripples money transfer service that some banks are using. Essentially none are using the liquidity service.
Click to expand...

Hey that's great! Most people don't even understand Ripple at all. Glad to see someone does research!

Since you know all that info I can only assume you know about the test run of a bank in Mexico and a bank in the USA that are testing xrp transfers. Ripple is also piloting a test with Moneygram which will probably use those same banks. This of course is all phase one of their plan.

Phase two involves getting all the banks to use XRP after they use and get familiar with Ripplenet. If I understand this correctly, right now the service is free to use. Once it goes "live" the banks will have to pay a fee to continue to the use the service or have that fee waved by using XRP.
 
Entoptic said:
Finally hitting the real support. Hopeful this is bot but 8k is the true test.

Tether news may screw anyone underwater right now.

Speaking of which, anyone got a spare can of air for my ltc?
Click to expand...

byke said:
Why is 8k the true test? Psychologically, 10k was the big test and the market seems to have made its decision. From technicals alone, that ~7500 mark is fairly weak support. I'd be looking to limit losses at this point.
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Blankpage said:
Wait until next week
Click to expand...

Let’s keep this going
[youtube]y2ak_oBeC-I[/youtube]
 
I don't understand what can happen next week that would create nonexistent support in the past? Don't confuse a bearish opinion for crypto hatred, quite the opposite. I'd just like to hear the bullish take based on something slightly realistic.
 
Next week or the week after will support the fact there is no support level and thus the bitcoin enthusiasts will come up with a new lower support level.
 
Blankpage said:
Next week or the week after will support the fact there is no support level and thus the bitcoin enthusiasts will come up with a new lower support level.
Click to expand...

I know this sounds crazy but that’s how day trading and reading charts works. You look at the current support and any other support around it. It’s fluid and not rigid.

A support line gets crushed, you move to the next one. But I’m probably telling you something you already know which makes me scratch my head on your comment.
 
byke said:
I don't understand what can happen next week that would create nonexistent support in the past? Don't confuse a bearish opinion for crypto hatred, quite the opposite. I'd just like to hear the bullish take based on something slightly realistic.
Click to expand...

Good question Byke. Honestly anything can happen. Maybe all the fud surrounding countries banning crypto exchanges, tether, USA regulation etc etc calms down and we go up.

Who knows. That’s what’s so exciting to me. I can take knowns and attempt to apply them to unknowns in order to make an educated guess. Reminds me of poker.
 
Entoptic said:
I know this sounds crazy but that’s how day trading and reading charts works. You look at the current support and any other support around it. It’s fluid and not rigid.

A support line gets crushed, you move to the next one. But I’m probably telling you something you already know which makes me scratch my head on your comment.
Click to expand...

yep thats how short term trading is. Now if you are a long term guy you really dont care about the short term charts and you use a longer time line to come up with your moves. I always laugh at the guys saying we are gonna lose everything and they have never traded, shorted or bought future contracts.
Now what I really want to know is what are you going to spend your crypto profits on? I know you already got a sweet bike so whats next. Im looking at a mosquito single seater helicopter.
 
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