Cryptocurrencies

Sorry - another post... but lots to say today.
SALT: here's why I bought into this, I bought 3 coins for a tenner- worth a punt for sure.
& I will let their bumpf tell the rest of the tale
(except, I will just say this- at some point in the future people are going to own CCs as capital and are going to want to raise loans secured against their investments... ) I see this CC as a HODLing for me.

https://www.saltlending.com/
 
Am I misreading or am I looking at the wrong charts. Bitcoin today shows US$14,000. It that right? If it is remember to always be very polite to Miss BA as she is an incredibly wealthy woman.
 
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I'm not sure if this has been raised earlier in the thread, but if these cryptocurrencies are indeed secure because of the blockchain and a third party can't tamper with or access the money, and if cryptocurrencies were eventually adopted as the main form of money movement, how do governments extract taxes so we have hospitals, education, roads and the like?
 
@Vanhelsing

The blockchain only means that it is decentralized. When you participate into bitcoin, you get a copy of the ledger showing all bitcoins owned by everyone. How much everyone owns. The difference is that instead of a name attached to a bitcoin amount, you have a unique garbled string of characters (the address, or account number if you will) attached to an amount. It is decentralized in the sense that if a "fake" transaction occurs where the amount is artificially inflated or deflated for fraud purposes it will fail. Why, because the transaction is verified across (potentially) all ledgers and it's impossible to tamper with all of them. In practice, a transaction is successful after being verified a handful of times and it's still enough.

Ok, so this is the very basic of the blockchain. So in theory, a transaction between 2 addresses should be anonymous, right?

But let's say we're all using cryptocurrencies and my employers pays my salary in BTC. Suddenly, I'm not so anonymous anymore because my employer knows my (public) BTC address (or account number) and has a record of paying me that amount. When he does his tax report (in good faith, as he should), then the government will know how much tax I need to pay.

Cryptocurrencies don't have to be anonymous to work.
 
Harryopal... I'm poorer than El_G.
& As I have listed more or less all of my portfolio you can see my meagre investment- BUT in a couple of years or so- who knows. I took to buying whole alt coins instead of fractions.

Jamu said:
http://www.thejakartapost.com/news/...ia-to-ban-bitcoin-transactions-next-year.html

Interesting development, especially if other countries follow suit.
Click to expand...

Jak post is just rehashing the same old story really- I commented on Indonesia banning BTC transactions a few posts back, and it was first announced on Nov 2nd
- seems to me that the Jak post has no actual reporter who knows what BTC /altcoins/ blockchain are all about & just throw comments in to make readers think they have a story on this- we are probably more informed in here with the people who are using them & taking time to learn.

Anyway- as I posted a while back that I thought SALT might be a good buy. ( A good runner with lots of stamina if it was a horse race, SALT might be the one coming to the front from the rear in the Aintree Grand National :D )
My 10 dollar investment is now showing at $18:84 from 2nd December.
 
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Japan embraced BTC a long while back- so for those of you nervous about its status with some countries- think of it as a spare Japanese currency if it helps you to understand why it won't disappear into the ether.

A few stories on BTC by the Japan Times, I figure they have to be a bit more informed and knowledgeable than the mass media in general:
https://www.japantimes.co.jp/tag/bitcoin/
So for those toying with investing, read all you can- but just be aware of the bias in the writing- who stands to lose what & who stands to gain what from the published stance?

I figure there will be a massive rise in prices over the next day or so, again... because of this:

"Cboe Global Markets Inc. has said it will start trading bitcoin futures on Dec. 10, while CME Group Inc.’s contracts are set to debut on Dec. 18. Nasdaq Inc. is planning to offer futures in 2018, according to a person familiar with the matter. Cantor Fitzgerald LP’s Cantor Exchange is creating a bitcoin derivative, and startup LedgerX already offers options."

https://www.japantimes.co.jp/news/2...000-futures-move-closer-reality/#.WijZlbT1Uok
 
harryopal said:
Am I misreading or am I looking at the wrong charts. Bitcoin today shows US$14,000. It that right? If it is remember to always be very polite to Miss BA as she is an incredibly wealthy woman.
Click to expand...
And now it is showing at 15,000.
Looks like it would have been a good deal to buy in at 10,000 & there was me thinking it was expensive hehe. Long may it continue to rise by 1000$US a day.

I still recommend Salt for anyone new buying in- whereever there is a financial market there will always be someone wanting to borrow. Salt is a lending platform and is still available to buy into at peanuts. I bought 3 SALT for £10 & they have almost doubled in the past few days. I do believe they have a very bright future.
I have visions (of delusion perhaps) that my little teeny SALTs will be worth 10,000 each at some point in the future :D
https://coinmarketcap.com/currencies/salt/

My OMG are showing a loss at this point of a few cents. I might swap em out for more SALT... hmm : should I stay or should I go now...
 
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Blockchain technology is not only used in crypto-currency but is used in many other ways for data collection and IT.

I saw a show on TV where Dubai is centralizing the whole country around blockchain technology from government, buildings to 3D printed fake palm trees. One new building had all the security and HVAC systems already running using blockchain.

Reminds me when Bill Gates told the world his Microsoft Office would eliminate all paper files...seems to have forgotten to tell Indonesian bureaucrats.
 
As the peeps in cc world say- those who hark back to the tulips have not moved forward for several hundred years, nor are they likely to.
 
Bad_azz said:
As the peeps in cc world say- those who hark back to the tulips have not moved forward for several hundred years, nor are they likely to.
Click to expand...
Yes, that old gem of a phrase 'but it's different this time', has marked every bubble since then. Has never been true though.
 
Now here is a thing BA, your bitcoins get to$16000, you think gosh I think I will sell now, don’t want to be greedy, someone else decides gosh I think I will sell now, then another decides to sell, then another, until people start thinking something wrong here I should sell too, until you get a mass panic and suddenly the bitcoins are only worth $1, then someone thinks that’s a good price, they buy lots, word gets around that so and so have bought lots of $1 bit coins so they buy lots and the price goes up and off we go again lots of people buying bit coins and up goes the price again, but then again it might be like tulips and lots of people get burnt
 
Why will it crash to nothing FUDs?
It is a $400,000,000,000 market... well it was- I haven't checked yet. It was selling at over $19000 in some places last night.
The whole thing is unprecedented. You cannot compare it to "traditional" money markets, it is a global decentralised open source thing, it is not managed by any one person/group.
& to be fair it is rather exhilarating - would I buy in now- nope. Yet the big institutions are doing just that apparently the quantities being sold are in bigger chunks now & not the $50/$100 chunks of pre $10,000, or so the talk in the forums is saying.
Bank of America is now buying patents.

Even if it does crash (which would mean it dropping to below $10,000) it would still be trading higher than it was a couple of weeks ago.

What we are seeing now is something rather fabulous and fun, hitting mainstream.
& remember this is a thing of youth, and youth are the future of our finances (dunno if that is a bad or good thing hahaha but it is the truth).
 
Jamu said:
http://www.thejakartapost.com/news/...ia-to-ban-bitcoin-transactions-next-year.html
Interesting development, especially if other countries follow suit.
Click to expand...


Bad_azz said:
Jak post is just rehashing the same old story really- I commented on Indonesia banning BTC transactions a few posts back, and it was first announced on Nov 2nd
- seems to me that the Jak post has no actual reporter who knows what BTC /altcoins/ blockchain are all about & just throw comments in to make readers think they have a story on this- we are probably more informed in here with the people who are using them & taking time to learn.
Click to expand...

It looks like the jakpost rumour had legs....
http://www.thejakartapost.com/news/2017/12/08/bi-bans-bitcoin-demands-fintech-firms-register.html.

Bank Indonesia (BI) has taken a strong stance against the widespread use of virtual currencies, including Bitcoin, as a method of payment due to the fear of volatility they can bring to the economy.The prohibition has been set in the central bank’s new regulation, called the PBI No. 19/12/PBI/2017 on the implementation of fintech, slated to come into effect on Jan. 1, 2018.
 
Anglian said:
Now here is a thing BA, your bitcoins get to$16000, you think gosh I think I will sell now, don’t want to be greedy, someone else decides gosh I think I will sell now, then another decides to sell, then another, until people start thinking something wrong here I should sell too, until you get a mass panic and suddenly the bitcoins are only worth $1, then someone thinks that’s a good price, they buy lots, word gets around that so and so have bought lots of $1 bit coins so they buy lots and the price goes up and off we go again lots of people buying bit coins and up goes the price again, but then again it might be like tulips and lots of people get burnt
Click to expand...

Anglian- many people are HODLing (holding on for dear life & if the forum chatter is to be believed ) they are expecting a dip and there is intent to buy into altcoins, although many already have them.
The people who don't chatter in the forums are the ones who are just getting on board and buying huge amounts as futures and banking investments... the big boys.
& There is a little fear that the Big Boys are going to buy massive chunks so that they can try and control the market, much as they do the usual currency markets- creating drops in price etc. So if there are any price drops going on the CC lovers are waiting to buy in & so are the banks/institutions.
 
Just a tip...
If you want to buy in to an altcoin:
Litecoin is storming away just now. It is romping its way up the altcoin charts & my money doubled in about 48 hours.
 
According to Skye news this morning North Korea are investing in bitcoin, so Mr Pudgy is doing ok despite all the blockades, he is a very wealthy man now
 
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