101–110 of 257 posts
I'm not quite up to current developments in the crypto coin communities, however my perception from the outside is that Ethereum has replaced Litecoin as the leading altcoin. Is this incorrect?
How well does Litecoin fare against the congestion problems we've heard about from the Bitcoin communities?
It will take significant time and effort to overtake Bitcoin's name recognition and first mover advantage. However, there's also an advantage to being a second mover that can adapt quickly to a changing environment... I doubt Bitcoin will be the supreme crypto-currency in a few years. It's just too implausible that Bitcoin is perfect enough as is, and/or the community will be able to implement any needed changes befo…
Bitcoin has by far the greatest amount of research and intellectual effort driving it, and it's far from a static protocol. It doesn't need to have gotten everything perfect, it needs to change just quickly (or slowly) enough to retain its core value proposition vs. other cryptocurrencies. Maybe it will get replaced, maybe not. But there's no question to me that Bitcoin is by far the most decentralized, most secure,…
Both of these are highly contentious if not outright wrong.
Bitcoin's network is the most centralized at the moment. Bitmain is a great example of that. As for security, Ethereum is currently spending more $$ per block than Bitcoin to secure the chain.
Earlier quoted context omitted.
It should be noted that the Bitcoin protocol is more difficult to change, compared to other crypto currencies, simply because it's the most widely used. The more users/implementations a protocol has, the more expensive change will be, simply because it affects more users (more software needs to be rewritten). Similarly, changing the SQL protocol is orders of magnitude more difficult than changing, say, the GraphQL pr…
Sql is a bad example, because you don't have to follow the new sql standard if you choose not to. Your existing app will continue to work on existing databases that implement the old SQL standard. A more salient example is the TCP/IP protocol! You cant juat update it, since it's required for everyone to agree on it!
I was pointing out that popular protocols are much harder to change than unpopular ones. But claiming that this fact will cause the unpopular protocols to take over the popular ones doesn't make much sense. By that logic the least popular protocol is the most likely to win -- completely backwards, as far as I can see.
Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…
The way people are treating cryptocurrency exchanges makes absolutely no sense to me. Most people are buying into it because they are absolutely certain they will manage to cash out once the currency hits an extreme "all time high". When such a peak occurs whereby the top 1% - as determined by number of coins owned - cashes out, everyone else who jumped on the bandwagon thinking they would also cash out is going to b…
That's not so different than what can happen in real life with currencies, isn't it? So at least the goal of treating Bitcoin like a currency has been met.
Those that got in early enough or have already cashed out usually keep their mouth shut. For those who regard it as a speculative asset and only want to get rich and now lament that they missed the early adopter phase, yeah, such people exist. I know several of them personally. It's always interesting to argue with them and yes, it would be better if there were regulations to protect them.
Greed is a bad investment strategy and it's only profit if you are willing to take profit. But people that push out the profit taking will always complain about not getting enough and most of them will get burned.
> BTC's Nakamoto "promises" they will never cash out their enormous share. How nice of them. The community can monitor Nakamoto's wallets all they want. I can't wait for him/her to cash out their BTC, and screw over the entire system. I'm just sitting here ready to laugh.
I see, you are not a true Buttcoin believer. Let me paraphrase an old meme: If Bitcoin succeeds, you won't have to cash out.
Jokes aside, Satoshi never made a promise to not cash out. It's likely, he/she/them are dead or lost the keys to their private wallet. Even in the unlikely case of Satoshi still being alive and having access to the coins, the minute this coins move, the price will plummet. And you can be sure that many people are watching these coins, a move will be noticed. Immediately.
Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…
Is Litecoin still gaining momentum at a significant pace? I'm not quite up to current developments in the crypto coin communities, however my perception from the outside is that Ethereum has replaced Litecoin as the leading altcoin. Is this incorrect? How well does Litecoin fare against the congestion problems we've heard about from the Bitcoin communities?
Litecoin is an almost identical clone of Bitcoin. The network recently decided to implement a change (called SegWit) that will help with scalability (enabling https://lightning.network/). Segwit was originally planned for Bitcoin, but it turned out to be highly controversial and was therefore hasn't been activated for Bitcoin yet.
In my opinion, Litecoin will be the best scaling crypto-currency in a few weeks.
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Does your argument still apply if you change "coins" to "cash" and "brokers" to "banks"? I leave my fiat money in banks because I judge that the risk of the bank disappearing and taking my money with it is lower than the risk of my house getting burgled, catching fire, etc. Likewise, it's entirely reasonable to think that a competent Bitcoin broker is more secure and safe than my half-assed attempt to keep my own key…
Bitcoin theft from brokers and outside sources has been a big issue over the years. It's universally accepted that the only responsible practice is to transfer funds from brokers and not share your private keys. I can now tell you don't own and know nothing about Bitcoin. This discussion is pointless and has now ended.
Is there interest in a cryptocurrency index fund? The idea is you could just buy an index fund composed of, say, 50% BTC, 20% ETH, 15% LTC and 15% ZEC. I'm fairly certain that one of these cryptocurrencies will 10 or 100x in value over the next 5 years, but buying each one individually is just such a pain. Would you invest? In reality, we'd probably buy the top 10 coins weighted according to some measure, and rebalan…
What do you mean with "We're YC" ?
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You probably want to read on the difficulties facing the Winklevoss' proposed ETF for Bitcoin. The MVP of your proposed idea is easy; the legal version is hard. If you do the MVP and don't put in an effort to get legal the happy case outcome is the SEC sends you a very annoyed letter and you shut down; there are a number of less-happy outcomes. (If you're going to spend a few years getting intimately familiar with ho…
I work with GABI [0] who operate a regulated Bitcoin fund based out of Jersey. They also operate XBT Provider [1], which offers BTC exposure through COINXBT [2] on NASDAQ. If you're genuinely interested in setting up a cryptocurrency ETF, either Jersey or Sweden both have a solid legal foundation. [0] http://globaladvisors.co.uk/ [1] http://xbtprovider.com [2] https://www.bloomberg.com/quote/COINXBT:SS
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I'm judging the value of a cryptocurrency by how many tangible goods and services I can extract from it. That is the entire function of a currency. I can pay for my VPN and my cloud servers with BTC. I can meet up with people locally and sell BTC for cash [effortlessly]. I can't do that with any other cryptocurrency. I'm not at all judging the technical merits of one cryptocurrency versus another.
>I can pay for my VPN and my cloud servers with BTC. Provided you use one of a limited selection of providers compared to using credit cards. >I can meet up with people locally and sell BTC for cash [effortlessly] Depending on where you are located. >I can't do that with any other cryptocurrency. You can do both of those things much more easily using traditional currencies. In both those cases you are getting a worse…
That is complete codswallop. My VPN is cheaper when paid with btc than with PayPal or credit/debit card or Stripe.
Why would you meet up with someone to sell cash for cash?