61–70 of 107 posts
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I used some bitcoin in place of a wire transfer last week. It worked well. Amazing what air can do these days!
Given the fees now required to get anything through the network, was it actually worth it? A SEPA transfer is normally free these days (though not sure what the status of wire transfers in the US is).
Ethereum makes up 44% of the total market cap of altcoins, but does anyone know what percentage of the remaining altcoins are just ERC20 tokens ? My gut tells me those ERC20 tokens are vulnerable to ETH price declines since miners get paid in ETH. A token may lose value, for example, as transaction times start increasing especially during a sell-off. When trading volume goes up but network capacity goes down that can cause even more panic selling.
Note, ETH mining is done with GPUs so it is really easy to just mine another currency. Mining CAP is about 7X more profitable than mining ETH at the moment [1].
[1] Coinwarz.com
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Except that during crisis Gold is guarantee to fall back at worst to it's "practical" value as a metal being used for jewelry. Even tulips bulbs have a practical value as every gardener could tell you. However the practical value of a crypto currency is zero. And no technical small talk was able to contest this truth so far. EDIT: Downvote what you can't contest, how mature!
Unless said crises is global and the internet is dead world wide you would always be able to sell your cryptocurrency to someone in a stable economic market somewhere in the world. When the local fiat currency inflates to worthlessness cryptocurrencies shine.
Dogecoin is an example.
Why am i not surprised? Nearly all or maybe all ICOs since May have been a deliberate scam. That is beyond the word 'bubble'. That is just it - collective scam. Crowdsourced Bernie Madoff.
Plus, its amazing how people don't get how the system works.
Crypto currency, the currency for crooks based on air.
you hate it cause you missed the train? not late still
Bitcoins utility in facilitating illegal drug purchases is possibly its greatest asset. As long as people want to buy drugs on the internet and use Bitcoin to do it, the BC value will rise.
Can you imagine if Bit Coin becomes the most popular way for people to buy prescription medications from other countries? It would be a necessary to people as Western Union is now.
Gold, which is possibly the oldest store of value used by civilization, is just as volatile. The inflation-adjusted price per Troy ounce of gold went from a high of around $2400 in the the late 1400's, to a low of $200 in 1919; then, it rose in fits and starts until it peaked at nearly $1600 in 1980; it then declined, again in fits and starts, until it bottomed just below $400 in 2002; then it rose to nearly $2000 in…
Earlier quoted context omitted.
Except that during crisis Gold is guarantee to fall back at worst to it's "practical" value as a metal being used for jewelry. Even tulips bulbs have a practical value as every gardener could tell you. However the practical value of a crypto currency is zero. And no technical small talk was able to contest this truth so far. EDIT: Downvote what you can't contest, how mature!
* I can buy a new Dell laptop with Bitcoin ( https://blog.dell.com/en-us/we-re-now-accepting-bitcoin-on-d... ). * For that laptop I can buy Windows with Bitcoin ( https://support.microsoft.com/en-us/help/13942/microsoft-acc... ). * I can book my holiday with Bitcoin ( https://www.cheapair.com/help/payment-and-billing/what-is-bi... ). * I can donate to Wikimedia with Bitcoin ( https://wikimediafoundation.org/wiki/Ways…
Gold and tulips are commodity currencies, they have value outside of their uses as a currency.
The dollar and bitcoin are not commodity currencies, i.e., they have no value or use outside of their use as currencies.
Whether bitcoin can be called a 'fiat' currency is debatable because it's not a currency "by fiat", though "fiat" currency has come to mean a non-commodity currency.
Gold, which is possibly the oldest store of value used by civilization, is just as volatile. The inflation-adjusted price per Troy ounce of gold went from a high of around $2400 in the the late 1400's, to a low of $200 in 1919; then, it rose in fits and starts until it peaked at nearly $1600 in 1980; it then declined, again in fits and starts, until it bottomed just below $400 in 2002; then it rose to nearly $2000 in…
you know what is an even better store of value? Just buying across the S&P 500. Treasury bonds also work. I can understand going for Gold or BTC if you do not have reliable access to US financial markets, but if you do have this, there's no reasonable financial argument for using BTC as your store of value. If the dollar falls apart, you won't be able to use BTC.
Bitcoins are far more practical than an S&P500 ETF. For instance, I can carry bitcoins across a border, whereas if you want to move shares across a border it will involve a lot of paperwork -- if you are a US citizen it may be impossible due to FATCA.
For now it's just a rather small correction, keeping in mind how much they had gone up in the last 60 months. On the other hand, the uncertainty with Bitcoin's Segwit activation, possible chain split etc won't help in the next few weeks including August. It could make the bubble pop... or not. What's weird is that coins that have already adopted SegWit, like Litecoin, seem to suffer even more than BTC during the dips…
I can see that almost 50% of blocks are generated with SegWit support. In a few weeks it'll be more than 50%, unless trend drastically changes. Does it mean, that SegWit won and Bitcoin is safe?
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Unless said crises is global and the internet is dead world wide you would always be able to sell your cryptocurrency to someone in a stable economic market somewhere in the world. When the local fiat currency inflates to worthlessness cryptocurrencies shine.
"Unless said crises is global and the internet is dead world wide you would always be able to sell your cryptocurrency to someone in a stable economic market somewhere in the world." Its not true. Dogecoin is an example.
I mined some for shits and giggles years ago.