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Thread: 20's and Crypto?

  1. #1

    20's and Crypto?

    So, as another decade passes and we have stuff at the end that wasn't there at the start like Contactless payments, Netflix, selfies and Snapchat - what does this decade hold for Crypto?

    I'm a holder but am running out of patience! Are we going to see another big big rally with the big players? ETH, BTC, XRP, LTC and Tether?
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  2. #2
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    I fcukin hope so, I have LTC and ETH sitting doing nothing only depressing me
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  3. #3
    What actually impacts the value? The size of the black market? The number of dreamers?

    There may well be disruption in banking but it may be the usual peer to peer type solutions (lending, payments) or digital banking in general (Revolut et al). Bitcoin is an interesting thing but it seems nearly more political/emotional than solving a practical problem. But just guessing really.
    I'm with the resistance

  4. #4
    I've never bought anything with crypto, never had the opportunity to buy anything with crypto, never even seen anything I was remotely interested in buying with a crypto price quoted.

    I know I'm a statistically insignificant sample of 1 but, as the whole point of a currency is that it's used to buy goods or services, these cryptocurrencies don't seem to be performing.

  5. #5
    I work with guys that have put 1000s into cypto, and the only reason is for the gamble of them going up with the plan to sell and make money. A few have made a few grand and a few lost their shirts and cashed out. To me it looks like a made up stock market gamble where they are just waiting for the value to go up and then sell at the top. And I think everyone else is doing the same. Like a pyramid scheme of all being dependant on the next person wanting to buy to drive the value up. And that is the reason it will never be real money for buying stuff. It is just a cyber made up gamble to make quick money. But at least with real stocks you do actually own something tangable like 0.001% of a bank or orange juice company etc.
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  6. #6
    https://en.wikipedia.org/wiki/Greater_fool_theory

    Until the currency is valid in the shops, it is pretend money just as monopoly money. And there is no incentive for anyone to start using crypto currency.
    In theory, a country like Venezuela could use it to stop the hyperinflation, but it does require that everyone and their grandmother is on the same page and is actually using the thing, which is the chicken and egg problem.
    Maybe in 10 years.
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  7. #7
    It is the similar transitional period from using physical tangible money versus online payments; this new technology will perform transactions in seconds versus our current setup (hours and days to transfer money). The main benefit , it is decentralised , no single authority controls , regulates the currency ; reason why Banks and financial institutions are fearful ; no transaction fees, it is a transfer between two individuals (no 3rd party , paypal, banks...), results in more confidential transactions (minimise account , identify theft), You own your assets , you do not have to delegate a 3rd party (i.e. bank) stewardship over your assets

    The downside is the element of criminality , last I checked ,currently it is not possible to track transactions , fund transfers; reason it is a popular medium via criminals to move funds around the world

    What technology will win out or to invest in ; they all have their pros and cons but you really need a major financial institution to align themselfs with a specific technology and the others follow suit, a Major Japanese bank was doing alot of testing with transition processing, was successfully minimising transactional speeds; unless you have some insider knowledge you may as well throw a dart at the board

    As the technology matures we will see Financial institutions incorporate at least some elements of the technology into their transaction systems
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  8. #8
    It's more than banks that are afraid, Goverments aren't going to be a fan either as it's an attach on sovereignty without choosing to opt in (like the Euro).

    If you don't control what could become a primary international currency so countries lose control over things like being able to control inflation through issuing more or less currency. It's a big loss to being able to control your economic policy instead of being entirely at the hands of "the market". That might sound great and while such things are peer to peer, you can't say there's truly no central control, whoever designs the specification and establishes an accepted technology is going to have a lot of influence, and while no-one trusts governments, would you rather hand control over to Mark Zuckerberg with his Libra proposal for example?

    For that reason, I suspect resistance to its legitimacy as an accepted currency you you can use "in the shops" will be strong enough that it never really gets a proper foothold.

  9. #9
    Quote Originally Posted by markcro View Post
    I work with guys that have put 1000s into cypto, and the only reason is for the gamble of them going up with the plan to sell and make money. A few have made a few grand and a few lost their shirts and cashed out. To me it looks like a made up stock market gamble where they are just waiting for the value to go up and then sell at the top. And I think everyone else is doing the same. Like a pyramid scheme of all being dependant on the next person wanting to buy to drive the value up. And that is the reason it will never be real money for buying stuff. It is just a cyber made up gamble to make quick money. But at least with real stocks you do actually own something tangable like 0.001% of a bank or orange juice company etc.
    This is a brilliant summary!
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  10. #10
    Quote Originally Posted by SJ View Post
    This is a brilliant summary!
    It really is not ,

    Share prices change because of supply and demand. If more people want to buy a stock (demand) than sell it (supply), then the price moves up.Conversely, if more people wanted to sell a stock than buy it, there would be greater supply than demand, and the price would fall.it is not a pyramid scheme ; its basic investment principles , look at the usual safe havens people turn to with volatility ; Gold has hit an all time high since the Iran incident

    Blockchain is a technology -- is a distributed, decentralized, public ledger; The goal of blockchain is to allow digital information to be recorded and distributed, but not edited.

    Many companies use this technology and implement their own solution ; i.e. Bitcoin a new electronic cash system that’s fully peer-to-peer, with no trusted third party , ICOs (Individual Coin Offerings, akin to offering a new stock)

    People are investing in the technology , it is no different to investing in Paypal , stripe payment gateways ; I am sure when Google, bebo , facebook started people too are skeptical , these all started off as penny stocks

    Yes it is a very volatile asset to invest in (why did facebook succeed and not Bebo??), people did jump in with two feet without comprehending what they are investing in; it was driven by media hype , some governments where found to take part in insider trading and market manipulation

    People love to attack , degrade people who invested (got on the bank wagon), point the finger , get kick out of hearing somebody lost their shirt; makes them feel good , the same people would be equally bitter in silence if it went the other way. They generally have absolutely no clue what Blockchain is or care to know , rather sit back in ignorance in their high chair point fingers at the losers

    Blockchain or Cryptocurrency as a technology is not a cyber made up gamble ; do some reading
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