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Blockchain and Bitcoin
- Thread starter Beorn
- Start date
Crypto currencies are promising a frictionless banking system now? Seriously? Its one thing to promise a simple return to investors and traders in a market which is a potential bubble and quite another to promise a root and branch change to the economy or finance, surely.
Beorn
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Yeah...
But, dig this.
It decentralizes banking. You actually borrow... FROM YOURSELF!
Beorn
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Forgot to post the website for sweetbridge where you can find the white papers and other info.
Blockchain Alliance for a Liquid Supply Chain | Sweetbridge
Blockchain Alliance for a Liquid Supply Chain | Sweetbridge
Ace_
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Well, if that doesnt tell you something.
Beorn
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It tells you it's the wild west. And some people are going to get screwed and maybe lose their life.
Doesn't mean there isn't genuine economic opportunity.
ABH, baby
Always be Hodling
You mean i can take out loans without a bank...more debt...i mean leverage...
It tells you it's the wild west. And some people are going to get screwed and maybe lose their life.
Doesn't mean there isn't genuine economic opportunity.
ABH, baby
Always be Hodling
Who the hell is this Survive & Stay Free character?! Sounds like a complete and utter ball bag!
Anyway, did you get in big on the old crypto currencies in the end? Its grand if you dont want to say, PM me instead.
I've not invested in it, rather than investing myself I would put money in funds and traders invest it, even on the riskier settings I know the return is smaller or slower than big personal investments in stock that's inflating or being shorted.
Beorn
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I wasn't playing with a great deal of money so I don't mind sharing at all.
I didn't sell at the high (due to the commitment to hodling) and just recently was forced to take out most of my funds as things started to rebound at a loss of about 5-10%.
At that cost I think I've learned plenty of worthwhile lessons and will probably reinvest at some point in the near future.
The most important lesson is that when the market is down you shouldn't just hold, but rather you should look for things that are disproportionately down to trade into. If I had done that I would have been in the positive when I sold. I mean ideally you should always be looking for things to trade in and out of.
ygolo
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So what are people's opinions today?hmmmmmmmm
What do you guys think about DAI?
SearchingforPeace
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bitcoin price is up and down. it is largely used for money laundering and other illegal activities.
investing in bitcoin is not wise, generally
investing in bitcoin is not wise, generally
Julius_Van_Der_Beak
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It always seemed like a bandwagon thing. I never really understood how the hell it worked, and I'll bet the people who invest in it don't, either.
1487610420
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1487610420
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SearchingforPeace
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I largely ignored it until I had to get up to speed for work. It is extremely energy dependent and I read recently that more energy is used worldwide for cryptomining than real mining.
The process is simple. To be a cryptominer, one must first validate existing transactions ( the blockchains), then solving mathematical problems first. only the first to the answer gets the prize, so speed is key.
The technology has been evolving quickly. They soon realized graphic cards could solve things faster, and then specialized graphic cards developed.
Miner now down to a calculation. Top of the line tech from 6 months ago is barely profitable today.
Many people do crypto arbitrage. There are a number of exchanges around the world and prices vary between exchanges. So, they buy in one and sell in another.
But it is the laundering that is huge. Funds that banks can't take (from illegal sources or gray areas such as marihuana) are changed into crypto and then sent around the world.
Crypto is mostly being regulated as property not currency, but may change.
From those I know invested in crypto, they are often frightened or elated. It is a rollercoaster. I read somewhere that 90% of crypto trades are fake, with the buyer and seller the same and they are just trying to move the price.
Now a lot of currency exchanges are fake, anyway, as the traders manipulate the prices to get the price they want working together. As such, it isn't surprising that crypto exchanges are equally bad.
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