Just another scam, similar to the Tulip frenzy, but without any flowers.
The dealers ,traders, miners or whoever deals in this nonsense will
make money for sure, the rest of the mugs may not.
Why is it always requoted into real currencies, after all it's a new
measure of wealth, money 2.0, no stupidity 2.0!

When I was completing my Econs Degree, I picked up a book called Extraordinary Popular Delusions and the Madness of Crowds.

No doubt, there is still lots of money to be made speculating in Crypocurencies.

Personally, I have been investigating Blockchain developers.

well you cryptos better give the liberal goverment some decent donations.which bank?
goverment www.fasttech.com/products/0/10042221/9092200-realistic-vagina-oral-deep-throat-

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boofta said..
Just another scam, similar to the Tulip frenzy, but without any flowers.

Tulip frenzy event is highly exaggerated.
www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/

It's money, if you agree it is. If enough people agree it is money then it is money. See: the history of money.

Here is my future..... My grandchildren helping the poor

hEY GRANDDAD wHY AM I A BROKE ASS NIGGER?

Have fun with your millions Don't spend it all at once! Well if you end up with egg on yah face give this mob a call!
www.afp.gov.au/

^ Bit late to exchange for millions : \

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cryptotrader said..
Here is my future..... My grandchildren helping the poor

Makes no sense. How are they helping the poor with worthless dollars? I'm not sure you understand; there is no cashing out.

Yes, the volume of ****wits the "scene" attracts is a negative. Mostly kids who dream of material wealth, so they can "be better than" someone else, and feel good about themselves in the process. Shallow. Boring. Annoying.

The most interesting chapter will be when central/reserve banks create their own cryptocurrencies. Will people want an inflationary currency or a deflationary currency? Will people use a deflationary currency? Could a deflationary currency have hyper-deflation?

Dunno.

Australian Financial Review has crypto currency all through the weekend edition. Cover story.
www.afr.com/technology/cryptocurrency-speculating-on-the-future-of-money-20171025-gz831a

I believe you GoodPanda.

But in what way are these monsters of money controllers, going to allow this to take over in its intended form?

They will own it all in months and back to square one.

Make the coin while you can and cash out.

My cousin was a net nerd and bough some for $20.00AUD, met a girl and cashed out early at 230,000 Euros.

Left his family high and dry, had a ball. It's almost gone now, like the girl.

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evlPanda said..
The most interesting chapter will be when central/reserve banks create their own cryptocurrencies. Will people want an inflationary currency or a deflationary currency? Will people use a deflationary currency? Could a deflationary currency have hyper-deflation?

Everyone is guessing and speculating.... Anything could happen, I think this has years to play out and there are lots of risks before cryptocurrency becomes a mainstream currency - that's if it does. At the moment I think of bitcoin as a solution looking for a problem. Not that I care as the only direction it is going is up. When all the glassy-eyed normies are on board that's when you should expect a massive crash - lol.

I see the biggest threats facing cryptocurrency as:

1. Quantum computing breaks crypto - but by then we may have quantum crypto.
2. Government Regulation

The killer app in all this is Blockchain. It's not if, it's when blockchain replaces institutions. It will be a watershed moment for me when the ASX - who are lobbying hard to ban crypto - move to the blockchain.

The only way is up?
30 new online currencies' opening each month? I might just start my own one next week. lol do I have to declare it to the taxation office?
Anyways ive done my research on it and I missed the band wangon for making millions. Ill put the extra on the house mortgage and invest in my children's education instead!

If you want to change the subject it would be better to start a thread called "Investing in my child's education"

I'm not in MENSA and even I know by looking at a bitcoin graph that there have been huge profits in the last year. That is going to continue for a while still.

I wouldn't recommend investing more than you can afford to lose.

Crypto is volatile and not suited to those with weak hands.

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Windpasser said..
They will own it all in months and back to square one.

Bitcoin is infinitely divisible.

If "they" start buying it up crazy themselves then due to laws of supply and demand the supply will dwindle, while demand is increasing, the prices will go through the roof, increasing demand even more, and so on. This would lead to fiat bleed, speculative attacks, and ultimately hyperbitcoinisation. The value of government fiat would plummet; hyperinflation would follow.

For this reason I don't see them doing it. Unless, er ...they wanted their country to get first mover advantage? Some people have supposed bitcoin was launched as a financial weapon : \. Going deep into heavy weather here.

There is enough coin for everyone because they are infinitely divisible; decimal places can be added forever.

Golly Crypto, you wouldn't want mugs to join the perpetual motion machine and lose what they can't afford.
Just take what they can!

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busterwa said..
30 new online currencies' opening each month?

More like every 100 every day.

99% of them are, of course, ****. Bitcoin is worth more than all of them combined and needs no introduction. Litecoin is so similar to bitcoin I can't see the point of it. Ethereum is different enough with its focus on decentralised applications rather than money that it might well survive, but it is still not proven, at all, has a massive scaling issue on its horizon, far bigger than bitcoin's scaling issue, and has been so far nothing but the platform for the scam of all scams; ICOs. IOTA is again different enough to survive but it's had a very questionable start with its own, untested hashing algorithm, the questionable use of ternary rather than binary, and security flaws intentionally added as a form of copy protection. Monero I've yet to look at but appears it might be different enough to survive and have an actual uses case, although tumblebit my kill it dead in the water.

Ultimately we all want to use one currency. Right? Bitcoin will win, or they will all die with it.

Invest all your money into bitcoin and live like a homeless person, that way if it goes to zero you'll be prepared.

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evlPanda said..

Bitcoin is infinitely divisible.

Source please?

I thought it's only divisible to 0.00000001 which is known as one Satoshi

Could be wrong, haven't looked it up.

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cryptotrader said..

evlPanda said..

Bitcoin is infinitely divisible.

Source please?

I thought it's only divisible to 0.00000001 which is known as one Satoshi

Could be wrong, haven't looked it up.

0.000000001

There. Source: Maths.

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evlPanda said..

busterwa said..
30 new online currencies' opening each month?

More like every 100 every day.

99% of them are, of course, ****. Bitcoin is worth more than all of them combined and needs no introduction. Litecoin is so similar to bitcoin I can't see the point of it. Ethereum is different enough with its focus on decentralised applications rather than money that it might well survive, but it is still not proven, at all, has a massive scaling issue on its horizon, far bigger than bitcoin's scaling issue, and has been so far nothing but the platform for the scam of all scams; ICOs. IOTA is again different enough to survive but it's had a very questionable start with its own, untested hashing algorithm, the questionable use of ternary rather than binary, and security flaws intentionally added as a form of copy protection. Monero I've yet to look at but appears it might be different enough to survive and have an actual uses case, although tumblebit my kill it dead in the water.

Ultimately we all want to use one currency. Right? Bitcoin will win, or they will all die with it.

Invest all your money into bitcoin and live like a homeless person, that way if it goes to zero you'll be prepared.

Bitcoin has a lot of problems, that's why all the forks. Bitcoin was first, but not the best. Transaction times are very slow, there are problems with mining it... etc etc. Many newer coins go some way to solving some of these problems. All the new coins(sic) are not actually coins - many are companies working on the blockchain.

I'd disagree about there only being one currency and that would have to be bitcoin. I looked it up on my netscape browser using Ask Jeeves and all I could find was myspace.

What I find interesting about the space is all the normies. They ask me to explain to them why the blockchain can replace trust and want to know how it works. They use the internet everyday and don't have to understand that? I also laugh about the mainstream media talking about the driverless car as the biggest thing that's going to happen in the future. lol The blockchain is going to have a far more dramatic affect on our lives than the driverless car, and it's not going away.

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evlPanda said..

cryptotrader said..

evlPanda said..

Bitcoin is infinitely divisible.

Source please?

I thought it's only divisible to 0.00000001 which is known as one Satoshi

Could be wrong, haven't looked it up.

0.000000001

There. Source: Maths.

infinite - rubbish.

en.bitcoin.it/wiki/Satoshi(unit)

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cryptotrader said..

evlPanda said..

busterwa said..
30 new online currencies' opening each month?

More like every 100 every day.

99% of them are, of course, ****. Bitcoin is worth more than all of them combined and needs no introduction. Litecoin is so similar to bitcoin I can't see the point of it. Ethereum is different enough with its focus on decentralised applications rather than money that it might well survive, but it is still not proven, at all, has a massive scaling issue on its horizon, far bigger than bitcoin's scaling issue, and has been so far nothing but the platform for the scam of all scams; ICOs. IOTA is again different enough to survive but it's had a very questionable start with its own, untested hashing algorithm, the questionable use of ternary rather than binary, and security flaws intentionally added as a form of copy protection. Monero I've yet to look at but appears it might be different enough to survive and have an actual uses case, although tumblebit my kill it dead in the water.

Ultimately we all want to use one currency. Right? Bitcoin will win, or they will all die with it.

Invest all your money into bitcoin and live like a homeless person, that way if it goes to zero you'll be prepared.

Bitcoin has a lot of problems, that's why all the forks. Bitcoin was first, but not the best. Transaction times are very slow, there are problems with mining it... etc etc. Many newer coins go some way to solving some of these problems. All the new coins(sic) are not actually coins - many are companies working on the blockchain.

I'd disagree about there only being one currency and that would have to be bitcoin. I looked it up on my netscape browser using Ask Jeeves and all I could find was myspace.

What I find interesting about the space is all the normies. They ask me to explain to them why the blockchain can replace trust and want to know how it works. They use the internet everyday and don't have to understand that? I also laugh about the mainstream media talking about the driverless car as the biggest thing that's going to happen in the future. lol The blockchain is going to have a far more dramatic affect on our lives than the driverless car, and it's not going away.

The forks are the problem. Although, they're not really doing much.

Transaction times are 10 minutes, or instant. It depends on you. If you are transferring 1,000 btc you'd be wanting to wait an hour or so, to be absolutely sure. That's pretty good for transferring $AUD7m. If you are transferring $10 it's safe enough to assume it's done. If not, wait a little longer.

When the transactions times are longer/more expensive that's because it has a lot of transactions going on. Saying that is a problem is like saying a restaurant has a problem because it is always full.

What's the issue with mining? Works fine. If you are referring to the arms race see the restaurant analogy again. "It's too popular!" is not a valid criticism.

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I'd disagree about there only being one currency and that would have to be bitcoin. I looked it up on my netscape browser using Ask Jeeves and all I could find was myspace.

Throughout history regions have used one, single currency, eventually. This is because using more than one is a pain in the ass; you have to keep track of all the exchange rates, and actually exchange. Before money we had bartering. 2 milks were worth 1 cheese was worth 0.002 goats was worth 0.3 cows was worth 0.1 brides, and they were all exchangeable. The very idea of money was borne from this mess. We won't be going back to it. Europe has the euro, US has the dollar, we have the dollar and so on and on. One, single currency is simply far better for everyone than multiple, for daily use. Obviously.

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The blockchain is going to have a far more dramatic affect on our lives than the driverless car, and it's not going away.

Personally I see limited use cases for an immutable database. Ownership is about it.

In that vein though Uber is well into bitcoin, and intends to have a fleet of driverless cars in the near future. There might well be driverless cars driving us around, with their own money.

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cryptotrader said..

evlPanda said..

cryptotrader said..

evlPanda said..

Bitcoin is infinitely divisible.

Source please?

I thought it's only divisible to 0.00000001 which is known as one Satoshi

Could be wrong, haven't looked it up.

0.000000001

There. Source: Maths.

infinite - rubbish.

en.bitcoin.it/wiki/Satoshi(unit)

It's just a label. You can infinitely divide any number. That's why bitcoin uses that format; 0.0000....
If need be they'll change it. Easy peasy.

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evlPanda said..

Transaction times are 10 minutes, or instant. It depends on you. If you are transferring 1,000 btc you'd be wanting to wait an hour or so, to be absolutely sure. That's pretty good for transferring $AUD7m. If you are transferring $10 it's safe enough to assume it's done. If not, wait a little longer.

Am I correct in saying that you are not a trader or haven't traded much bitcoin?

I've had one bitcoin transaction take 14 hours to clear. That was because the mining fee set by BTCmarkets was too low - I had no control over this. Look up stuck bitcoin transactions. I find on average bitcoin takes around 30 minutes to clear. It is dependant on the miners fee - look it up. This alone makes bitcoin unacceptable as a mainstream currency afaic - and the times will get slower.

The issue with mining is the reason for the last bitcoin fork - it's aim was to take power away from the big miners: www.vice.com/en_us/article/d3ykaw/yet-another-bitcoin-fork-aims-to-take-power-away-from-big-miners

Satoshi is the smallest divisible unit in bitcoin - currently you can't buy less than that. So bitcoin is only infinitely divisible in your mind.

On the other points, I just disagree with you. Your opinions are valid. Just different to mine and those in here: hackernoon.com/your-company-will-use-blockchain-in-less-than-10-years-heres-how-6d9da452fa8d

Crypto trading is something that I really enjoy. It's a very steep learning curve and is quite exciting, trying to distinguish facts from fake news. One day trading in the crypto market is like a month in the ASX, only with a lot more FUD, FOMO and some mooning. Crypto trading is really only something I'd recommend for people who have strong hands.

The other great thing about crypto is all the experts - people make a lot of money and all of a sudden a new genius is born. Isn't that right evlPanda?

How do you lend it and what fee and/or interest rate does one charge?

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Cambodge said..
How do you lend it and what fee and/or interest rate does one charge?

What?
You can learn more about crypto here: blockgeeks.com/guides/what-is-cryptocurrency/

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cryptotrader said..
Am I correct in saying that you are not a trader or haven't traded much bitcoin?

Correct. I wouldn't trade it for anything right now. Hodling.

I've had one bitcoin transaction take 14 hours to clear. That was because the mining fee set by BTCmarkets was too low - I had no control over this. Look up stuck bitcoin transactions. I find on average bitcoin takes around 30 minutes to clear. It is dependant on the miners fee - look it up. This alone makes bitcoin unacceptable as a mainstream currency afaic - and the times will get slower.

It is dependant on the transaction fee, yes.

Here are the realtime fee to confirmation ratios: bitcoinfees.21.co
As of writing I won't even bother calculating because they are practically free. Yes, they change. As I said that is a problem with being too popular.

The issue with mining is the reason for the last bitcoin fork - it's aim was to take power away from the big miners: www.vice.com/en_us/article/d3ykaw/yet-another-bitcoin-fork-aims-to-take-power-away-from-big-miners

The last fork's aim was to give power to the miners. You have it completely back-to-front.

Bitcoin Cash increased the block size, and will do so again (if required, although seeing how dead it is that doesn't look like it will be necessary). Miners wanted larger block sizes because it means more transactions, more fees, more money.

Satoshi is the smallest divisible unit in bitcoin - currently you can't buy less than that. So bitcoin is only infinitely divisible in your mind.

Again. Maths. You can keep dividing forever.

Currently you can't, if required in future you can. It would be the simplest of upgrades. Another decimal place. No contention.

On the other points, I just disagree with you. Your opinions are valid. Just different to mine and those in here: hackernoon.com/your-company-will-use-blockchain-in-less-than-10-years-heres-how-6d9da452fa8d

No we do agree; the blockchain is very limited in its potential applications. It's an immutable database.

Contracts, payments, ownership type stuff. Yes. We could almost just define it as "boring stuff" : )

Facebooks, Amazons, Googles, SnapChats. No.

Crypto trading is something that I really enjoy. It's a very steep learning curve and is quite exciting, trying to distinguish facts from fake news. One day trading in the crypto market is like a month in the ASX, only with a lot more FUD, FOMO and some mooning. Crypto trading is really only something I'd recommend for people who have strong hands.

You might enjoy this: parasec.net/transmission/order-book-visualisation/

The other great thing about crypto is all the experts - people make a lot of money and all of a sudden a new genius is born. Isn't that right evlPanda?

The more I know the less I know.\



FUUUUUUUCK this new editor. I give up.

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cryptotrader said..

Cambodge said..
How do you lend it and what fee and/or interest rate does one charge?

What?
You can learn more about crypto here: blockgeeks.com/guides/what-is-cryptocurrency/

Farked if I'm gonna spend my time reading it. So, not a simple answer then that can be summarised into a couple of lines response?

Can somebody tell me how much I would've made had I invested $10000 in BTC back in 17 Oct 2011 6:43PM when I was considering it?
Here bottom of page: www.seabreeze.com.au/forums/General-Discussion/Chat/world-peoples-movement?page=1