Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
I agree it has the potential to transform a lot of things and the financial sector is a great example. But this and other technology like AI and machine learning is also going to put a lot of people out of jobs
Really interesting to see how this all plays out in the next 5-10 years
Bitcoin now down 30% from the high reached on Monday, I see...
Mentioned this earlier, it’s down to Coinbase now supporting bitcoin cash (a fork from bitcoin) average joes saw the massive price increase for bitcoin cash and dumped their bitcoin into bitcoin cash.
Coinbase, Sterling into ethereum and then I transfer that ethereum to my binance account where you can trade into a few dozen other cryptos. You can buy bitcoin and do the same but ethereum and litecoin are quicker, plus the value of ethereum is must more consistent than bitcoin
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Interesting video although I think she's jumping the gun a bit to call it 'safe'. This looks like it requires internet-enabled devices which I've heard done have the same kind of protection against hacking that computers generally do.
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Interesting video although I think she's jumping the gun a bit to call it 'safe'. This looks like it requires internet-enabled devices which I've heard done have the same kind of protection against hacking that computers generally do.
Transactions and wallets are encrypted, so yes, they are safe. Only thing that would make it unsafe is if a cloud based wallet provider got hacked. In which case just get a hardware wallet (a memory stick etc).
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
It confirms how blockchain can be used to make financial transactions frictionless. It will remove the cost element of using for example credit cards.
It does not show that the name given to the unit of exchange has value. It could have been developed by Nectar and the crypto currency called Nectar. It would not mean we would start buying and selling Nectar cards.
I think it will entirely re-shape investing. You and I only see the price of a stock as delivered by say a Bloomberg feed. In fact those prices have already been picked up and traded in advance of you seeing that price. By time you trade, a hedge fund manager has already sold the stock you are buying at a profit because he had time to trade on a lower price a nano second before you. He will be paying £millions to have a computer system that is a millionth of a millionth of a second faster than the available paid for feeds. Traders make money by arbitraging on price where the same stock can be bought on several different International exchanges at prices which vary because of exchange rate fluctuation and delay in collecting trade information that drives price. They buy and sell short and long between markets on the same stock to make minute margins that in aggregate make big bucks. Blockchain will remove that ability and will allow investors to trade anywhere in the World any time of day on the same level playing field whether in Pounds, Euros or Dollars.
That requires a far more powerful system than one that just picks up world wide electric charging payments. Why would you pay for the privilege of holding IOTA credits if you don't know how much electricity it will buy. The crypto currency is a commodity which incurs no cost to produce and so has no exchange value.
So I see crypto currencies as just a particular configuration of blockchain to suit the services and products it is helping to deliver more efficiently. Only the physical business that is managing the service has value, not the cyber counter used to record value which exists only as a name.
Value will come from blockchain to the consumer by removing friction in transacting on goods and services that adds to its cost.
It will not come by paying for the right to acquire credits to buy unidentified services and goods at unknown unpublished prices from invisible sellers that you probably will never want to buy, or can buy with normal currency, on the premise that you can sell them on to someone else for more money.
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Interesting video although I think she's jumping the gun a bit to call it 'safe'. This looks like it requires internet-enabled devices which I've heard done have the same kind of protection against hacking that computers generally do.
Transactions and wallets are encrypted, so yes, they are safe. Only thing that would make it unsafe is if a cloud based wallet provider got hacked. In which case just get a hardware wallet (a memory stick etc).
Bitcoin cash is down 40% today and Coinbase are investigating their staff over insider trading. I don't think you can actually trade it on Coinbase yet either.
I'm not too concerned about prices going down today though
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Interesting video although I think she's jumping the gun a bit to call it 'safe'. This looks like it requires internet-enabled devices which I've heard done have the same kind of protection against hacking that computers generally do.
Transactions and wallets are encrypted, so yes, they are safe. Only thing that would make it unsafe is if a cloud based wallet provider got hacked. In which case just get a hardware wallet (a memory stick etc).
Bitcoin cash is down 40% today and Coinbase are investigating their staff over insider trading. I don't think you can actually trade it on Coinbase yet either.
I'm not too concerned about prices going down today though
Correct, on coinbase you need to wait another couple of weeks before you can trade bitcoin cash.
Bitcoin’s plunge extended to almost 30 percent Friday as the frenzy surrounding digital currencies faced one of its biggest tests yet.
The world’s largest cryptocurrency approached $10,000 as this week’s sell off entered a fourth day with increasing momentum. It touched a record high $19,511 on Monday. Other cryptocurrencies also tumbled, ethereum dropped as much as 36 percent and litecoin slumped as much as 43 percent, according to composite prices on Bloomberg.
Bitcoin’s plunge extended to almost 30 percent Friday as the frenzy surrounding digital currencies faced one of its biggest tests yet.
The world’s largest cryptocurrency approached $10,000 as this week’s sell off entered a fourth day with increasing momentum. It touched a record high $19,511 on Monday. Other cryptocurrencies also tumbled, ethereum dropped as much as 36 percent and litecoin slumped as much as 43 percent, according to composite prices on Bloomberg.
Still 200% up on my original investment so really don’t care.
FYI I said earlier to send ethereum to binance, you can only send bitcoin to binance (maybe there’s a setting somewhere I need to change to allow me, as ether takes seconds rather than hours to validate and be a completed transaction)
Anyone else got involved? I finally decided to chase the horse down the field after it bolted and bought into Ripple yesterday and it's done 37% today... Fully roped in and started studying upcoming ICO's...
In on Telcoin, and will get in on Nucleus Vision in Jan. Anyone else had a crack at trading them? All seems a bit too good to be true... The bubble will burst, but still feels like it has legs
What is the differentiating feature between different Crypto currencies that makes one more or less valuable than the other? Naff all.
If it's a currency to replace regulated coinage, here's the problem. If I can buy a TV for 1% of a Bitcoin today, but next week i can buy two TVs for the same Bitcoin, or perhaps half a TV, how do i decide when to but my TV. If it's not a practical instrument of barter, what is it's use - apart from illegal transactions between criminals?
I trust those bitching about a fluctuating pound exchange rate are not piling into Bitcoins.
The winners when the inverted Bitcoin pyramid collapses will be funded by the losers. The winners have already sold off enough to repay their initial investment and are now playing with other peoples money. That's all you need to know about dabbling in crypto currency.
The reason many are intelligent enough to say they don't understand crypto currency is that there isn't anything to know that advances understanding of why people are buying it.
I know as much about gaming software as I know about Bitcoin software. I don't need to understand gaming software to know if I should buy a game, but feel I do if I want to buy a Bitcoins. People buy games because it keeps the kids quiet, they buy Bitcoins because other people buy Bitcoins and Bitcoins keep going up in price.
If I bought a loaf of bread for £1 and didn't eat it because it was going up in price people might think me a bit odd. If I bought an indelible loaf of bread for £1 that I couldn't eat, but kept it because it was going up in price as more people wanted to buy inedible bread, people might think the World has gone mad.
Bitcoin and other cryptos are very different, to use my analogy earlier, it’s like comparing amazon to Facebook, they use the same fundamental technology in the internet but are serving a very different purpose and have different aims. Read about ethereum, which is what most cryptos are based off, which is essentially digital contracts, not anything to do with money per say.
If you read up on blockchain it’s incredible it’s potential as a technology. It will transform the financial sector for sure (making international transactions take seconds rather than days at a cost of almost nothing) but also other sectors and industries as well.
@PragueAddick I’d also recommend watching “banking on bitcoin” on Netflix, it certainly has libertarian leanings as a documentary and I’d take most political comments in it with a grain of salt, but it gives a very clear background to bitcoin and blockchain in general and interviews some quite brilliant people who were involved in the concept and development of blockchain.
We’re not even in the dawn of the age of blockchain, we’re at the Big Bang of the age of blockchain, things are expanding at rapid pace and no one quite knows what will lead markets in certain things. But it’s definitely going to be massive.
Not disputing the potential of blockchain technology, I'm disputing the crypto currency as a commodity of intrinsic value. The value will come from application of blockchain technology in the world of regulated financial transactions, not the ability to trade and speculate on the services and products for which it has application.
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Not necessarily correct,
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Interesting video although I think she's jumping the gun a bit to call it 'safe'. This looks like it requires internet-enabled devices which I've heard done have the same kind of protection against hacking that computers generally do.
Transactions and wallets are encrypted, so yes, they are safe. Only thing that would make it unsafe is if a cloud based wallet provider got hacked. In which case just get a hardware wallet (a memory stick etc).
I was meaning more that the objects that are doing the transacting, e.g. cars, windmills, could well be open to hacking.
I'm a total retard and have little idea of how cryptos work. Blockchain,public ledger, decentralised Yadda Yadda. I brought around £70 worth in late 2014....now worth up to £3000!. Not 100% certain how to convert bitcoin,and £600 worth of Bitcash that they gave me, as I had that much of bitcoin at the time of something called a "fork", into GBP. I believe there is some ATMs around that convert BTC into GBP is that correct?.
I'm a total retard and have little idea of how cryptos work. Blockchain,public ledger, decentralised Yadda Yadda. I brought around £70 worth in late 2014....now worth up to £3000!. Not 100% certain how to convert bitcoin,and £600 worth of Bitcash that they gave me, as I had that much of bitcoin at the time of something called a "fork", into GBP. I believe there is some ATMs around that convert BTC into GBP is that correct?.
You need to sell out and into usd, most exchanged will let you put the usd straight on to a GBP card and will convert it
Over the moon with my ripple investment, it makes money while I sleep.
Out of curiosity, how difficult would it be to cash the lot out?
Easy, lots of market depth
Flirting with 10k now... All seems a bit too easy if you do a bit of looking into it.
Really like the Gems Project and think it is the next one worth looking at... Decentralized Mechanical Turk, very strong team of founders and advisors and a great concept.
Also in on Telcoin at the ICO and the Nucleus Vision ICO Whitelist... will get in on Nebulous and WANChain as soon as they hit the exchanges, WANChain is being touted as China's Ripple.
I'm a total retard and have little idea of how cryptos work. Blockchain,public ledger, decentralised Yadda Yadda. I brought around £70 worth in late 2014....now worth up to £3000!. Not 100% certain how to convert bitcoin,and £600 worth of Bitcash that they gave me, as I had that much of bitcoin at the time of something called a "fork", into GBP. I believe there is some ATMs around that convert BTC into GBP is that correct?.
You need to sell out and into usd, most exchanged will let you put the usd straight on to a GBP card and will convert it
Get yourself a US $ bank account on Transferwise and you wont lose out on a crappy conversion.
Over the moon with my ripple investment, it makes money while I sleep.
Out of curiosity, how difficult would it be to cash the lot out?
Easy, lots of market depth
Flirting with 10k now... All seems a bit too easy if you do a bit of looking into it.
Really like the Gems Project and think it is the next one worth looking at... Decentralized Mechanical Turk, very strong team of founders and advisors and a great concept.
Also in on Telcoin at the ICO and the Nucleus Vision ICO Whitelist... will get in on Nebulous and WANChain as soon as they hit the exchanges, WANChain is being touted as China's Ripple.
Vechain marching towards $4 a token when before Christmas it was still $1. That’s with the ridiculous sell walls that have been put up.
There’s still quite a lot of legs in ripple, Coinbase are due to be adding new coins to their marketplace in q1 2018 and ripple has got to be next as it’s now the 2nd largest coin. Waiting for it to explode after that.
Comments
I believe quantum computing will need to have been fully developed before block chain technology can replace current transactional recording if my understanding of the amount of computing power needed to manage blockchain mining is correct.
Here’s a great little video explaining iota and blockchain generally, which doesn’t use miners, rather users validate each other’s transactions
Really interesting to see how this all plays out in the next 5-10 years
It does not show that the name given to the unit of exchange has value. It could have been developed by Nectar and the crypto currency called Nectar. It would not mean we would start buying and selling Nectar cards.
I think it will entirely re-shape investing. You and I only see the price of a stock as delivered by say a Bloomberg feed. In fact those prices have already been picked up and traded in advance of you seeing that price. By time you trade, a hedge fund manager has already sold the stock you are buying at a profit because he had time to trade on a lower price a nano second before you. He will be paying £millions to have a computer system that is a millionth of a millionth of a second faster than the available paid for feeds. Traders make money by arbitraging on price where the same stock can be bought on several different International exchanges at prices which vary because of exchange rate fluctuation and delay in collecting trade information that drives price. They buy and sell short and long between markets on the same stock to make minute margins that in aggregate make big bucks. Blockchain will remove that ability and will allow investors to trade anywhere in the World any time of day on the same level playing field whether in Pounds, Euros or Dollars.
That requires a far more powerful system than one that just picks up world wide electric charging payments. Why would you pay for the privilege of holding IOTA credits if you don't know how much electricity it will buy. The crypto currency is a commodity which incurs no cost to produce and so has no exchange value.
So I see crypto currencies as just a particular configuration of blockchain to suit the services and products it is helping to deliver more efficiently. Only the physical business that is managing the service has value, not the cyber counter used to record value which exists only as a name.
Value will come from blockchain to the consumer by removing friction in transacting on goods and services that adds to its cost.
It will not come by paying for the right to acquire credits to buy unidentified services and goods at unknown unpublished prices from invisible sellers that you probably will never want to buy, or can buy with normal currency, on the premise that you can sell them on to someone else for more money.
Satoshi nakamoto’s white paper that started bitcoin and cryptocurrency, if anyone wants more reading on crypto
I'm not too concerned about prices going down today though
The world’s largest cryptocurrency approached $10,000 as this week’s sell off entered a fourth day with increasing momentum. It touched a record high $19,511 on Monday. Other cryptocurrencies also tumbled, ethereum dropped as much as 36 percent and litecoin slumped as much as 43 percent, according to composite prices on Bloomberg.
https://www.msn.com/en-gb/money/topstories/bitcoin-plunges-as-sharks-circle-in-key-test-of-cryptocurrency/ar-BBH9Q6W?li=AA54rU
FYI I said earlier to send ethereum to binance, you can only send bitcoin to binance (maybe there’s a setting somewhere I need to change to allow me, as ether takes seconds rather than hours to validate and be a completed transaction)
Ripple is definitely on my Santa’s list to get, got a great future.
Really like the Gems Project and think it is the next one worth looking at... Decentralized Mechanical Turk, very strong team of founders and advisors and a great concept.
Also in on Telcoin at the ICO and the Nucleus Vision ICO Whitelist... will get in on Nebulous and WANChain as soon as they hit the exchanges, WANChain is being touted as China's Ripple.
There’s still quite a lot of legs in ripple, Coinbase are due to be adding new coins to their marketplace in q1 2018 and ripple has got to be next as it’s now the 2nd largest coin. Waiting for it to explode after that.