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The Fearsome and Mammoth CRYPTOCURRENCY Thread!

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Wed Jan 24, 2018 11:33 pm

New FIAT is in. Here's what I'm getting into :

DATA (DTA)
A Chinese BAT, with AI in the mix. Supposedly, the tech is superior, but it's very early. Jumped in yesterday at the Huobi launch, and am up 100% already. Holding. Team is solid. It all adds up. Wait for a dip : https://www.data.eco/

SophiaTX (SPHTX)
This is a new enterprise level platform that has not had any major movements yet. It's only available on Bibox, a Chinese exchange, and a few other of the non major hitters. It's down from its ATH of above $2. The market cap is high, but it started that way. People expect major growth with this, which is surprising, but I'll be happy with a few hundred percent and get my initial out. https://www.sophiatx.com/

QASH :
Easy to find information on this one. They want to provide liquidity to these markets. Look into it. Super solid, and if they could pull it off, they hope to enter the top 5. I could see that.

Bottos
(BTO) is another new Chinese AI data platform, targeting "big data" amongst other things. From what I understand it will be launched on its own chain on main net in 2018. It's up from my buy point of .25 cents, to .28, but still very early. Again, only available on Bibox, and Gate.IO (where you can purchase QASH).

AICHAIN (AIT) :
This is another Chinese project, based on AI. The whitepaper is long, and well written enough in English. The website explains the project as a global transaction system, and mentions nodes in the roadmap. The team looks like a solid Chinese group, with a recently added person named Stephen Hunstman. I dug into Stephen Huntsman, and he appears to be some sort of Angel Investor in the blockchain realm. I am sure there is more to this, but on the surface, this has all the workings of other wildly successful Chinese projects.

What I mean is how things rings of Walton, Neo, etc in the beginning. This is not indicative of how this project will go, but the parallels are there. Decent website that could be amazing with polish. Looks to be a very solid effort that's just getting started.

Currently, they are only on ONE Chinese exchange, “Big One” (whatever the hell that is).

Today, January 25th, they will be added to Coinegg, where many of us have bought certain projects. Americans (and many others) can get in here and get verified, but it was easier before they had a “warning” splash screen. Please ensure you get fully verified before you buy. It'd suck to get funds stuck. I for one, had my Mainland Chinese girlfriend verify for me. Worst case, find a Chinese person for these Mainland exchanges. They have a new partnership that was just announced minutes ago : http://www.jinse.com/blockchain_business_news/141401.html

ANYWAY -

These are my thoughts. Take them with a grain of salt, and a strong dash of your own research :

This is currently as of this writing trading at .11 cents. It supposedly has a circulating supply of 735 million. This is your middle ground, from what looks like profit takers from ICO dipping it to ICO's around .08 cents, and some pushes getting it up to .13 cents.

I suggest you immediately look into this on the Coinegg listing, before this hits a more popular Chinese exchange, or begins getting shilled. There is a very good chance this may well pump based on the fact that it's “undiscovered” like many others recently (IoTChain, Internet Node Token, etc), so if you're in for a quick % number, do keep an eye on it religiously.

Telegram traffic is VERY LOW, only 35 members on the English TG, and 400 on the Chinese side. There is only one 4chan shill that I can find that nobody paid attention to, and one Reddit post that was deleted for I assume being a low quality shill.

I believe with the popularity of AI, this could very well hit $1 by spring-time, and beyond if the project really takes hold. If we're looking at a new WTC / NEO / yadda yadda, well then, the sky's the limit. However, I do suspect in time this will start to be shilled across Reddit, 4chan, etc. I will likely post about it after I give you all some time to buy in.

Solid short term potential. Mid term looks really good. Long term, if this takes hold, you are literally on the ground floor. Please DYOR, and consider the risk involved with calls that are this early. It could go any way, but that's the risk / reward rub.


I'm going big on AI projects that haven't had major price movements, small things that could be "the next" blah blah blah. With the rise of AGI + DBC on everyone's minds, I think these are safe bets as the floor has been set, and even with a BTC dump, things mostly go back to previous levels.

Notable mentions for a riskier long-term play : ArbitrageCT.

As always, DYOR, and be safe.

Cheers.

- Yingling
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prowler on Thu Jan 25, 2018 10:30 am

i'd love to get in on these but not starting any new accounts, i'm still spread pretty thin between binance, bittrex and kucoin

i did happen to get in on the DTA telegram thing, if anyone wants to you could use this referral link and we both get about 1 buck's worth :)
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Andrew. on Fri Jan 26, 2018 7:14 pm

Some people seem to have been honestly convinced that BTC was and is a liberating development. Mostly male nerds who don't understand the world very deeply and likely never will, but they really think this is opening up some new realm of hope and possibility.

Mining requires enormous amounts of computing power. According to some estimates, Bitcoin’s power use already may equal 3 million US homes, topping the individual consumption of 159 countries. The bulk of this mining goes on in China, where most of the electricity comes from coal, so this is a dirty business. The number of Bitcoins in circulation is supposed to top out at 21 million; we’re approaching 17 million now. As the limit is approached, the coin-creating algorithms get more difficult to solve, meaning more computing power is required, and more carbon is generated. Even the most seemingly immaterial of things often have deeply material roots.

I should emphasize that the algorithms used to generate Bitcoins are pointless. They serve no useful purpose.

https://www.jacobinmag.com/2017/12/bitc ... -explainer


Fucking idiocy. What human need is BTC addressing or what problem is it remedying? How late can late capitalism go?
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby givemenoughrope on Fri Jan 26, 2018 7:27 pm

^Right. Reading about that here a couple weeks ago was horrifying and turned me off instantly. I keep thinking that there must be some crypto (existing or not yet) that is best mined or can only be mined and the blockchain ledger maintained via solar. Call me a dreamer...
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby seanurban on Sat Jan 27, 2018 2:56 am

Not a dream. It’s inevitable. Bitcoin is like yahoo and we’re waiting for google. Some “nerd” is going to figure this out. It won’t be me. This shit is out of control.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby andyman on Sat Jan 27, 2018 8:54 am

Bitcoin isn't liberating anyone or anything, but its fundamental problems seem to be getting addressed in newer generation cryptocurrencies, which someone could view as subsequent iterations of a prototype. Hopefully, with enough time, digital currency could be viable.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Sat Jan 27, 2018 11:09 am

Bitcoin definitely did liberate plenty of people to whom it introduced financial wealth and independence, enabled many startups to see the light and helped to form work relationships that would never have happened otherwise, but -- of course -- it is limited, kinda dated, and the energy consumption is a massive problem.

It's been known for years that it is just a prototype, albeit pretty fucking huge. On the other hand, Bitcoin also paved the way for many more advanced ideas. Proof-of-work is not the only way to go.

Gonzo, thanks for the tip, will look into those tomorrow.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Gramsci on Sun Jan 28, 2018 4:52 am

Governments can easily regulate cryptos. They just bar them from the financial markets. If you can’t pay your mortgage with these they are pointless. If central banks see these as a threat to financial regulation then bye bye. Currently uptake and use is a tiny group of people. If all you buy is at best brunch, at worst drugs and weapons it’s not a currency, it’s a speculative barter platform.

Enjoy your fun for now. As soon as there’s a whiff these “currencies” could have an effect in the real world the hammer will come down.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Sun Jan 28, 2018 7:33 am

You will always be able to exchange crypto for FIAT, one way or another, and there is too many upsides the use of crypto has on FIAT on the internet or in the virtual world. People are not moving out. They keep moving in.

You have smart contracts. You have projects like SafeNet where a crypto token buys you a storage capacity that can't be moderated, shut down or censored by authorities.

You have the first generation raised by the internet entering their adulthood, before long, you'll have the first permanently-online generation grown up too. They will be so much more needy and knowledgeable when it comes to technologies, it will be encoded in their bones.

The world and people's identities will become more and more file-, media- and data-based. With advancement of virtual reality, they will spend most of their lives online. The whole "unless you can pay your mortgage with these they are pointless" line of thought will become pointless in itself. We spend bigger and bigger chunk of our lives on the internet. If any currency buys you a safe storage capacity, you may argue it pays the mortgage for your virtual self. Don't underestimate the future.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Sun Jan 28, 2018 8:45 am

New shit :

Flipped DATA for 100%

Signed up for IDEX exchange, and was immediately worried I'd be getting myself into an EtherDelta situation. (I won't touch E.D. ever. Not worth it to me) It is anything but. IDEX is actually super easy to use. Use MetaMask (cool in itself), link it to IDEX. Deposit in. The guides are good, and the chat-box is very helpful! It's slow, but, that will change. Only took me an hour to be up and running.

Hopefully this crushes EtherDelta as the new moon mission place. Just enough hassle to keep a lot of normal traders away, but so easy to set up IMO.

Jumped into Origin Trail (TRAC) at .22 cents. Went 100% over night, and continuing a slow, non-moon accumulation run, hopefully. Not touching it until it hits a major exchange, unless it goes another 200%.

Jumped into Blockport + Covesting, two social trading platforms. Both very low market cap. Flipped Blockport at a 75% gain, and put it into BlockArray. Covesting will sit until it's also either 75%, or until it hits HitBTC and Bitfinex in the next week or so.

BlockArray is a new Shipchain-esque logistics and supply chain project that just launched. Pissed I missed the .20's, but feeling quite good about it as it was only a 25M market cap at buy-in. They have a partnership announcement at the NEO conference on January 30th.

Trying to take any profit on small buys that are 50%+, and consolidate down, slowly, into all the things that haven't taken off yet. Hopefully, this will ease the sting of "should've bought more" I can't imagine if I wouldn't put this amount of funding into shit like Request Network or RLC. It's all about low market caps, buying before hype, and weeks before announcements.

I'll also start selling more tops, or near-tops. So much profit has been gained, then bled out since beginning this. No more.

It's time to take a chunk of all of this, and get this to my original cash out point. Quit being married so much to certain projects. Then, I can let this Chainlink, iExec RLC, Request Network just sit with iron hands, in cold storage, and bring this shit to the next level.

Comfy.

Stay safe.
Last edited by gonzochicago on Sun Jan 28, 2018 9:03 am, edited 2 times in total.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Gramsci on Sun Jan 28, 2018 8:49 am

The “we” you talk about is a tiny echo chamber of nerds and speculators. People’s lives are not becoming more “file”. So far all you talk about as “we” is an invisible dot on and invisible dot of the human population. “The web” etc so far is nothing more than a giant data aggregator specifically focused on creating “value” from targeted advertising. Google, Facebook etc are just data farms.

This isn’t the first generation raised by anything. Every generation is defined In some way by new technology. Books, radio, TV, the internet, whatever’s next. What’s happening now isn’t special and will be surpassed by something else and someone from that generation will say exactly what you are saying to me about whatever that is then.

Nothing happening now is unique or special, and either are you or I.

All of the profit from crypto currency is based on the same economics behind the Dutch tulip lunacy 400 years ago and every bubble since; your coin is worth more now because someone else expects to make more off it later.

The interesting thing about all of this is the underlying tech. The layer on the top right now is ephemeral.

I also get since you have skin in the game you are obligated to talk this stuff up. That’s fine but please offer full disclosure and be honest with others and yourself about that.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby kokorodoko on Sun Jan 28, 2018 9:19 am

Gramsci wrote:your coin is worth more now because someone else expects to make more off it later.

Now, I'm not exactly bashing cryptocurrency - the main reason I'm not in the game is because I don't have the energy. But Gramsci points to something here that I have never understood, and I thought that either there is something that I'm missing, or people are intentionally leaving something out:

The reason people buy bitcoins (and other -coins) is because they can sell them for real money. Right? What other reason could there be? There is all this talk about non-controlled currency and so on, but then it would first have to actually be used as a currency. And why would you? I would have to be insane to accept bitcoins as payment knowing that it might be worth a fraction of the price the very next day. Even if it happens to be relatively stable, why part with them when their value the next year might have increased a thousandfould?
Sure, there are lots of buyers right now, but that's again because people see a chance of making money. How long can this last?

Please explain this to me.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Sun Jan 28, 2018 10:00 am

kokorodoko wrote:
Gramsci wrote:your coin is worth more now because someone else expects to make more off it later.

Now, I'm not exactly bashing cryptocurrency - the main reason I'm not in the game is because I don't have the energy. But Gramsci points to something here that I have never understood, and I thought that either there is something that I'm missing, or people are intentionally leaving something out:

The reason people buy bitcoins (and other -coins) is because they can sell them for real money. Right? What other reason could there be? There is all this talk about non-controlled currency and so on, but then it would first have to actually be used as a currency. And why would you? I would have to be insane to accept bitcoins as payment knowing that it might be worth a fraction of the price the very next day. Even if it happens to be relatively stable, why part with them when their value the next year might have increased a thousandfould?
Sure, there are lots of buyers right now, but that's again because people see a chance of making money. How long can this last?

Please explain this to me.


I got in this to make money, no bullshit. I did that, but then I found a wealth of really interesting projects like some of the ones mentioned in this thread as a whole. Truly crazy possibilities, that while still somewhat speculative, are quickly turning to reality (Stellar Lumens IBM partnership, iExec RLC V1 physical product out now, V2 in May). As I've said before, I think 2018 will be the year when many "could be" game-changer projects turn into seriously reality, or shit the bed entirely. (Request Network, Chainlink, so many others). There will be a mix of both ends. The ones who succeed should bring a new layer of adoption and excitement, and of course, vast wealth to those who got in early. NEO and WaltonChain are good examples of this, and only just beginning. You can read about these projects with a simple search.

As for Bitcoin, you can indeed buy many things with it, still. I'd assume there's a processor somewhere that immediately flips it for market value, but I really have no idea as far as the acceptor goes.

People hope the BTC Lightning network will change the game. Personally, I think BTC will be de-throned sooner rather than later, unless this hits with major waves.

Ethereum's "Casper" update is also supposed to morph the field.

Your question is still somewhat unanswerable in the grand scheme, but there will be a lot happening this year. As always, this market remains extremely volatile.

Only time will tell, but hell, for only being in this 4 months, I'm certainly comfy.... :twisted:
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Gramsci on Sun Jan 28, 2018 1:10 pm

Robert Shiller explains irrational exuberance in the book of the same name.

Koko. People are not buying bitcoins because they want an alternative currency. They’re doing it as a speculative investment. Of course they can be exchanged for real currency but that so far is entirely contingent on governments not regulating them. This isn’t because government can’t, the easily can, it’s because they don’t matter. Bitcoin could crash to 50c tomorrow and the global economy wouldn’t even blink. The closer these get to having any real impact the thinner the string holding the sword gets.

The wider tech is really interesting but the idea there is any real weight to the current “currencies” in use is all in peoples’ heads. I’m sure a few people have gotten rich off these, especially if they’ve already cashed in their chips. But keep an eye on the people selling the idea. They all have something to gain by more people speculating.

That’s called a Ponzi scheme
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Mon Jan 29, 2018 5:02 am

Always nice to hear other sides of the table. :smt006

I made this thread to document what I was doing, for better or worse, and to prove a point that it wasn't too late if anyone else has ever been interesting in getting on board. I think it's very safe to say that we (the contributors) have proved that point, regardless of what you think the future holds. So, onward, we go, further into the deep blue waters.

Alright folks, last thing for a bit....I swear....UNICORN TIME

ZILLIQA (ZIL)

Billed as “the World's 1st high-throughput platform design to scale thousands of transactions per second.” It launched publicly about 3 days ago, and is currently at mid 0.08 cents.

Press : “It seems likely, indeed, that Zilliqa's high throughput will make it a strong candidate for implementation in legacy enterprises focused on financial markets, global trade and other sectors that require high-performance DLT.” - Nasdaq
http://www.nasdaq.com/article/how-the-zilliqa-blockchain-could-change-enterprise-cm884934

What is SHARDING?
https://github.com/ethereum/wiki/wiki/Sharding-FAQ

First of all...I'm still digesting this. I was combing through the dregs of the internet, and I saw this mentioned. I did a back-search on the usuals, biz, BTC Talk, and found very little information, until I came across their Reddit. There are dozens of posts on Reddit, all stating vast, wide claims of this being something that is not to be trifled with. However, there are not many rebuttals. Only anger that they missed the ICO. However, that's the rub.

The ICO was .007 cents, and was capped at 2.5 → 5 ETH (when ETH was $600. It began trading at 0.13 cents, climbed up to 0.18, and then dipped to .09. I see what is likely large whale buy orders at the all-time lows along the way. It's currently x10 that price, on a recent dip, giving it a market cap of about 600 Million. I believe it's re-tracing, but it's impossible to now.

People expect this to drop slowly to .03-.05 cents, or reversely, all hell is about to break loose. This means, when Coin Market Cap updates the circulating supply of it will drop into the Top 100 immediately. My opinion? I don't think that heavy of a drop is a sure thing. Impossible to call it.

There is some minor devil's advocate, such as : “It is released on exchanges at 10x the "ico" price. giving a non existent platform a top 50 evaluation already. Not to mention the potential to be dumped on from community investors” (this didn't keep ADA from going 40X, or a half dozen other projects).

“Sharding isn't on their 2018 roadmap.” (others say it is.)

“It's an erc20 token and as such with no zilliqa network for developers to build upon it has a long uphill battle in such a competitive space against a giant like ethereum.” (this also doesn't matter, IMO, as it will morph to it's own coin with Main Net, ala EOS.)

Some of these points have rebuttals here : https://www.reddit.com/r/zilliqa/commen ... lockchain/

What is this?

“It brings the theory of sharding to practice with its novel protocol that increases transaction rates as its network expands. The platform is tailored towards enabling secure data-driven decentralized apps, designed to meet the scaling requirements of machine learning and financial algorithms. Zilliqa has been under research and development for two years. It has powered several ground-breaking deployments commercially to date.”

Great discussion here, if you find yourself on the fence: https://www.reddit.com/r/zilliqa/comments/7tqxzo/overpriced_think_again_opinion_and_discussion/

In terms of market cap, I believe TRON, Cardano's rise show that it really doesn't matter much anymore. If anything, this project seems further along than Cardano, from what I read. I exited Cardano way, way too early. Another hard lesson learned.

After a lot of research, I've decided I will bring this project to Chainlink levels of heaviness, over time. My first buy is in at the recent dip, at 0.078 cents, a 25% position. I will continue these buys until Main Net nears.

Current price : .085 cents
Market cap : 600M
Markets : IDEX / ED / Huobi / Gate.io

P.S. : I think one thing is clear, if you mine, you should probably start mining this when it opens near Q2.

Cheers.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Mon Jan 29, 2018 9:16 am

Gramsci wrote:The “we” you talk about is a tiny echo chamber of nerds and speculators. People’s lives are not becoming more “file”. So far all you talk about as “we” is an invisible dot on and invisible dot of the human population. “The web” etc so far is nothing more than a giant data aggregator specifically focused on creating “value” from targeted advertising. Google, Facebook etc are just data farms.

This isn’t the first generation raised by anything. Every generation is defined In some way by new technology. Books, radio, TV, the internet, whatever’s next. What’s happening now isn’t special and will be surpassed by something else and someone from that generation will say exactly what you are saying to me about whatever that is then.

Nothing happening now is unique or special, and either are you or I.

All of the profit from crypto currency is based on the same economics behind the Dutch tulip lunacy 400 years ago and every bubble since; your coin is worth more now because someone else expects to make more off it later.

The interesting thing about all of this is the underlying tech. The layer on the top right now is ephemeral.

I also get since you have skin in the game you are obligated to talk this stuff up. That’s fine but please offer full disclosure and be honest with others and yourself about that.


Full disclosure: I hold crumbles of BTC, and only to cover the transaction fees of the coins based on OMNI protocol. I don't even know how much it is. 40 or 50 bucks worth? I would profit the best if everyone just turned their back on BTC. The lower the price, the lower the fees.

Your suggestion that I argue against your misinformed half-baked assumptions to pump up my BTC share to get rich on 5 regular readers of this thread is so farfetched I will probably keep talking to you just for the sheer fun of it. And of course, to pump up my BTC.

Now for the sake of full disclosure, how much BTC do you hold? :)
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Tom on Mon Jan 29, 2018 12:39 pm

Gramsci wrote:Robert Shiller explains irrational exuberance in the book of the same name.

Koko. People are not buying bitcoins because they want an alternative currency. They’re doing it as a speculative investment. Of course they can be exchanged for real currency but that so far is entirely contingent on governments not regulating them. This isn’t because government can’t, the easily can, it’s because they don’t matter. Bitcoin could crash to 50c tomorrow and the global economy wouldn’t even blink. The closer these get to having any real impact the thinner the string holding the sword gets.

The wider tech is really interesting but the idea there is any real weight to the current “currencies” in use is all in peoples’ heads. I’m sure a few people have gotten rich off these, especially if they’ve already cashed in their chips. But keep an eye on the people selling the idea. They all have something to gain by more people speculating.

That’s called a Ponzi scheme


I think you're largely right. It's funny to me that because the first applied use (that I know of) of DLT was as a currency it's been largely synonymous ever since, but really currency is almost incidental and situational (recall the state of the financial world from 2002-2008 when BTC was in development). Distributed ledgers on the larger scale allow for trustless interactions for all sorts of things, contracts, identity verification, proof of sale, credit scoring, polling, etc... There is, I think, undeniable value in it in the broader view.

I don't think the tulip analogy is quite right however. While it does apply to the bubble phenomenon that crypto is in right now, even the most rapid tulip loving Dutchman couldn't make the claim that tulips would ever be more than tulips.

The landscape of crypto currencies right now is like thousands of dialects of Esperanto all trying to replace thousands of languages that have been used for hundreds or thousands of years without given the speaker a meaningful reason to use them and giving them plenty of reasons not to. BTC (or whatever currency you're talking about) is usually not much cheaper than a credit card, it uses more resources, it requires a higher learning curve, is slower and irreversible. It does have some advantages; most are decentralized, there is an additional layer of privacy, though most are not totally private and it is much cheaper and faster for transferrin money internationally. Those advantages are not enough to move your average consumer over to it on anything other than an ad hoc use - and they're only advantages because governments haven't regulated it yet.

All that isn't to say that there isn't a real use for them as a form of payment - that it just isn't clear yet how they could be used. The same thing could be said for for the world wide web in the 90's. When I was in high school in the early 90s, the WWW to me was 2 things: 1) misfitscentral.com, a place I could print out misfits lyrics and interviews, and 2) a geocities page that I made for my band that had 3 visitors. While I certainly wasn't making the most of the web back then, no one else was either - except Jeff Bezo's. It took a crash and clean up to figure out what would be useful for the average person.

I have no idea what (if any) future there is in crypto currency. If I was a betting man (and I am), I would say that the short term will see adoption of crypto currency in machine to machine applications. I've talked about IOTA here before and I will again because IoT is one of the areas I can see real widespread adoption in the near future. Check out https://data.iota.org/ for their data marketplace. It's an example of how this data can be bought and sold in a way that traditional money doesn't really allow.

One of the nagging questions I have, and one reason why I'm suspicious of the whole concept of a "currency" is that I still haven't understood why there is value on an actual coin. Why is bitcoin treated as a dollar as opposed to a check? Why is it actual money rather than means of transporting money? I'm chalking this up to my ignorance of either economic theory or blockchain technology, but I really haven't found an answer.
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Tom
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Tom on Mon Jan 29, 2018 1:03 pm

Also, in regards to the current market bubble - even if a bunch of these things turn out to be viable, the market cap is _INSANE_ right now. For example, Tron -which may or may not be a straight up scam, we'll assume not right now- is designed to be a currency for video games, valued at 4.2 BILLION (and that's after coming down from a high of 17+ Billion). To give some perspective, that's about 4% of the entire global video game market - for a currency that isn't even being used yet. That is crazy.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Mon Jan 29, 2018 2:40 pm

Tom wrote:Also, in regards to the current market bubble - even if a bunch of these things turn out to be viable, the market cap is _INSANE_ right now. For example, Tron -which may or may not be a straight up scam, we'll assume not right now- is designed to be a currency for video games, valued at 4.2 BILLION (and that's after coming down from a high of 17+ Billion). To give some perspective, that's about 4% of the entire global video game market - for a currency that isn't even being used yet. That is crazy.


For what it's worth, Tron claims to be "a social media platform".

"TRON is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, ..."

So it's not strictly a currency for video games. The truth is, it stinks. They have done nothing as far as I know, but somehow managed to establish a decent following, which probably stems from the fact Justin Sun is a household name in China. And they have a superficial sex appeal.

For every overblown project though, there are dozens of under-the-radar projects such as Req, PayPie, MaidSafe and many others. I'm a big supporter of MaidSafe, although currently, I hold no MAID (this ought to be said I guess, so I wash off the suspicion), but the prospect of new internet built solely on the P2P basis is awesome. If I wish any project to succeed, it's this one.

And oh, the tulip mania analogy is pretty asinine, but I take it people who bought into it really don't care all that much, so it's not really worth to argue against it. If anyone wants to feed their head though:

https://steemit.com/bitcoin/@penguinpab ... s-you-want

https://steemit.com/bitcoin/@dragosroua ... ulip-mania

https://medium.com/@themihaly/comparing ... 8b489727fc

https://seekingalpha.com/article/413268 ... ke-bitcoin

Basically, this what my friend from elementary who happens to be one of the GPU-turned-ASIC-miners-turned-traders told me in 2014:

"99% of people don't know dick about BTC, and about 80% who claim to know dick about BTC still don't. But I'm fucking tired trying to explain. Those who want to know will shut up and learn, those who don't -- won't."

Needless to say, I was giving him the same old headache of PONZI and PYRAMID scheme accusations (knowing dick), I caused him to moan and yawn with ignorant generalizations, but in the end, I got it.

BTC is something new. Cryptocurrencies are something new. If you wanna speculate and get rich doing little to nothing, you always risk getting burned. If you can and wanna use them for your business, studies, travel or everyday life, may they serve you well.

If you're a dumb, old, jealous and malevolent fuck who will abuse every higher principle in malicious attempt to make the lucky ones feel guilty, who will scream "bubble!" and pray for it to burst, who tortures the others with unlimited supply of painful and stubborn ignorance, I say: Fuck you and watch me fly, sucker. (Let's call this a spiritual goodbye to my crypto-preaching-self. From now on. I only eat donuts, drink chocolate and look at Gonzo's tips.)

Gonzo

Have you looked at PayPie? It's long past their ICO, but they should launch alpha in three days. I suspect it might give one a nice round reward if one takes their chances. I'll buy a dozen or two. Or three.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Fri Feb 02, 2018 12:01 am

PRD : I didn't! PM'd you about it.

WEW, ladies and gents! Bitcoin is now around $8,500! Some are freaking out. Blood everywhere! ETH held up amazingly until late last night, and was 40M away from BTC's market cap. Bonkers.

I'm about half my ATH, but still up 600% from my start. No sense in touching anything now.

This looks bad on paper, but looking at the past 6 months, the new marketplace aspects that surround everything, is not as bad as it seems. Very curious to see how the next month plays out.

If you can stomach an eye on something new that launched today, I think this is a very rare opportunity to get in on something extremely promising near its ICO price, due to the volatility of the markets today :

Jibrel Network Token (JNT) has launched on Bibox, ED, KuCoin, and is now only about 50% above ICO price, at .37 cents. People believe this to be "a new Tether". Huge investment across the board. I highly suggest anyone looking for a solid post-ICO entry to consider a half-buy in this stormy weather, and wait to see what happens in the next 72 hours. All expected price points for the release of this were $1, on the low side. Current market cap is about 38M.

A bit about JNT :

"There is jCash and JNT. jUSD will stay 1 on 1 with usd, jEUR will stay 1 on 1 with eur etc.

JNT provides the proof of solvency behind it, every transaction will burn a little bit of JNT, and also the jibrel DAO will hold JNT for every asset tokenized on the network, which means if there are 10b jUSD tokens issued, then the DAO will have to hold JNT equivalent to 10B usd, so there will be a huge buying pressure on JNT from the jibrel fund as the tokanized assets increase.

Very simply that means if we're at 10b jUSD, then jibrel mcap will be bigger than 10b necessarily, which is funny because in the beginning even BTC will exist as a token on the jibrel network until blockchain interoperability is solved."


Stay safe out there! :twisted:
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