Cryptocurrencies

[El_Goretto]

If you purchased BTC prior to Aug 1 you automatically have the equivalent amount in BCH because the fork effectively made a copy of the public ledger.

Extract your private key and import it into a BCH compatible wallet. Then sell on any BCH enabled exchange.

Sweet! Thanks for the tip, gonna try that!

 

[Bad_azz]

Oh, El G I think we might all be popping round to your place for a beer, seeing as you are coming into all this money

 

[El_Goretto]

Yay I'm swimming in cash with all of my 0.1BTC and now apparently 0.1BCH!

 

[harryopal1]

Is this what is meant when called a "party pooper."?

http://www.canberratimes.com.au/bus...itcoinfuelled-ico-bubble-20170831-gy7sok.html

 

[nyc]

Is this what is meant when called a "party pooper."?

http://www.canberratimes.com.au/bus...itcoinfuelled-ico-bubble-20170831-gy7sok.html

The ICO hype exists on top of cryptocurrencies but has no direct impact on the value of them.

BTC is 64000000Rp today. You'd have to do a lot more pooping to run my party today!

 

[Bad_azz]

Is this what is meant when called a "party pooper."?

http://www.canberratimes.com.au/bus...itcoinfuelled-ico-bubble-20170831-gy7sok.html

I dunno who the guy is but by his own voice he says he doesn't like talking about CCs- so not hard to know what his bias is nor do I know what his credentials are- so I would be more interested to read an article or opinion of a succesful businessnam than some reporter from a backwater rag ( Canberra times?? - just kidding) - Richard Branson would do

to be fair it is a really mediocre article- it doesn't say anything & then says nothing... probably something he wrote without any effort on a Monday morning with a hang over (from too much weekend sun/surf/beer?)or research or the editor hacked it to death.

 

[harryopal1]

Your replies are so polite. I had this response from a friend:

"NOW having read his article ... what a wanker his article is full of shit + inconsistencies ... he's a jounalist so he's paid to write, OBVIOUSLY his editors don't know much about it either ... his main contention is that CRYPTOS are a solution in search of a problem, BANKS AND GOVERNMENTS are the problem= look at stupid [yANK COCKING] Mal Turnbull making stupid statemenst regarding China=nth Korea. LIKE LITTLE Johnny Howard = thye are embarrassing.
as for a financial crisis with bitcoin = THE MONETARY SYSTEM we have ahs just recently finished QUANTATIVE EASING!! pLEASE ....

I'M NOT SAYING IT WONT CRASH ... cause with governments going after it big time .. they MAY PREVAIL but I don't think so ... for instance the/ONE OF The reasons ETHEREUM is going so well = I have 74 of them is because the Sth Korean government is getting into it!!! so is BILL GATE, elan Musk etc."

 

[Bad_azz]

I get it now; the reporter probably has connections to a banking family- hence him being a financial reporter- well we all know banks just love CCs

& I love your friend's replies hahaha - pretty much what I was thinking- as you noted, I am too polite.

 

[Davita]

Interesting co-incidence that the movie "The Wizard of Lies" is on HBO right now. It's the Bernie Madoff story of people buying into 'evaporative' investments.

 

[nyc]

Interesting co-incidence that the movie "The Wizard of Lies" is on HBO right now. It's the Bernie Madoff story of people buying into 'evaporative' investments.

Unfair comparison.

 

[Davita]

Unfair comparison.

No comparison....an observation.

 

[R Cameron]

Bitcoin has always been a little strange to me because its value is entirely in its scarcity. Ethereum is intriguing to me because the coin generation is actually accomplishing work of value, that seems like a fundamentally more stable platform.

 

[nyc]

Bitcoin has always been a little strange to me because its value is entirely in its scarcity. Ethereum is intriguing to me because the coin generation is actually accomplishing work of value, that seems like a fundamentally more stable platform.

The code quality of eth is piss poor. My friend made a lot of money from eth but I refuse to invest because I don't believe in the tech.

 

[Davita]

I can see cryptocurrency as a replacement for legal-tender currency (issued by countries) in the long term, especially, when and if, it becomes more directly acceptable for any trade....world-wide.

But it appears most are buying, not for that purpose, but because they believe it's a good investment.
Imo...There isn't anything tangible in this investment and has become a gambling game for techies without the casino/bank taking its cut.
IMO...cryptocurrency doesn't have intrinsic value to grow, except for the expectation of profit. It therefore is a zero-sum game.....for any winner there must be a loser....QED.

I've been investing (stocks & property) since I had any money, which came late in my life (I worked over 20 years for the Queen on a lousy salary) and find the only way to properly measure the realistic value of an investment is to sell, then subtract the original cost, then pay all fees and taxes, then apply any inflation/exchange cost.....and find the realistic profit and/or loss.
Same as Warren Buffet....except he started before me....and was better at it.

 

[Bad_azz]

But pretty much anyone can use it for trading, it is easier than getting a card swiper installed- basically all they need is a digital wallet in their phone & maybe buy a hard wallet to "bank" the takings at the end of the day.

It really is just about getting word out there & getting people to acknowledge, accept, learn about it.
It deffo isn't rocket science.

 

[Davita]

But pretty much anyone can use it for trading, it is easier than getting a card swiper installed- basically all they need is a digital wallet in their phone & maybe buy a hard wallet to "bank" the takings at the end of the day.

It really is just about getting word out there & getting people to acknowledge, accept, learn about it.
It deffo isn't rocket science.

The issue, as I see it, is there isn't any guarantee the crypto has any intrinsic value...it could be $4600 one day and zero the next and those left out are the losers.
With Gov't issued currency there is a 'promise to pay' the value written on the note.

 

[Bad_azz]

I understand your point but as I see it the more it becomes the norm the more stable it is.
& the benefits of having 1 (or several) truly global currencies will eventually out date the fiat currencies.

 

[Davita]

I understand your point but as I see it the more it becomes the norm the more stable it is.
& the benefits of having 1 (or several) truly global currencies will eventually out date the fiat currencies.

I agree...it has been the dream of many to have a global standard for exchange since the time bartering started many centuries ago.
I recall we had the gold standard after WW2 but that fizzled out when the French decided it wasn't in their interest.
Since then we have struggled with countries, mainly China (I agree with Trump), in manipulating their currency values to their advantage, and not to the global community.

I hope that cryptocurrency, which is similar to the gold standard except the method of exchange is internet....not telegraph, smoke signals or donkey trips.... takes over sooner than later...... but, meanwhile, some will win and some will lose.... until a price is fixed.

 

[Bad_azz]

I don't think there will be a price fixed- by any governments or central authority- that's the whole point the users are the fixers- all of us. The fact that it is decentralised is what makes it exciting and unable to be regulated- however I am sure that those who stand to lose will possibly try to legislate against it (& drive it underground possibly) by making it illegal- & even if such a thing happens the kids of today will reanimate it when all the corrupt old barstewrds that run the countries are in their graves.
Because it makes sense. The world isn't the trading platform it used to be when banks first started out, technology has seen to that- and to be honest I think these & many otherthings will be outdated soon enough the way technology is advancing. I have just been reading some scary yet thrilling science publications.
When we all start to incorporate AGI into our systems (as in bio-systems) we'll probably be able to send & recieve some form of digital currency through mere thought processes... say in another 30-50 years.

 

[harryopal1]

I don't see much comparison but it brings to mind that about 15 years ago there was an enthusiasm for a barter card system. Instead of buying or selling for cash you traded some relative value in goods. So if I sold something to someone then I had a credit for that value. I could never accept how this could be a reliable system when you were trading in such totally disparate items. Nonetheless many went in for the cards but now it seems to have disappeared, Not sure that anyone made or lost significant amounts of money.

With Bitcoins Ms BA seems to have gone in seeing it as an entertaining novelty and prepared to say goodbye to her outlay. My friend who responded with profanities at the critical article is in it to make money and seems convinced he is on a winner. He is buoyed up by his son who is in banking and sees it as a good investment... at least for now.