lol, no. Go ahead download the ledger.
Digital coins may be on the verge of going mainstream
71–80 of 237 posts
Re: Digital coins may be on the verge of going mainstream
#72Re: Digital coins may be on the verge of going mainstream
#73Regardless of whether it will ever go mainstream in the near future, and as a newbie to cryptocurrency, is it expected that, whenever it goes mainstream, the value will? 1) Dramatically rise 2) Rise 3) Behave as usual (depending on current trend) 4) Fall 5) Dramatically fall I just curious. I dabble because some eTailors give discounts for Bitcoin, but I can also invest a bit at any time (just not enough to seriously…
All of the above...
Re: Digital coins may be on the verge of going mainstream
#74>For this reason, none of the investors I spoke with engage in short-term trading but instead choose, in the online parlance of cryptocurrency enthusiasts, to “hodl” (“hold on for dear life,” rather than sell off for temporary gains). Someone trolled this author. "hodl" is just a misspelling of "hold," not an acronym.
First seen here: "I am hodling." https://bitcointalk.org/index.php?topic=375643.0
"Pop bottles and Hodl"
Re: Digital coins may be on the verge of going mainstream
#75Bitcoin seems quite straightforward and easy to understand, compared to our current banking system. A lot of comments mention the difficulty of explaining what is bitcoin and how it works, and that mainstream people cannot get enough understanding to start using it. What about the actual banking system? There are so much mainstream ignorance about our current banking system. What does it even mean that I own $2000 at…
It means they are holding $2000 of your money. And if you send it to another bank then it means they send it to them and now the other bank is holding your $2000. Nothing hard about that.
Bitcoin might be easy if you're a techie and interested in it. I am not interested in it and I barely even know where to start. What does it mean to mine stuff? Blockchain? What.. There is no way my parents would remotely get started with Bitcoins at this point. And I believe that once it becomes easy enough for mainstream, it will be as abstract as anything.
Re: Digital coins may be on the verge of going mainstream
#76It's all zero-sum. It doesn't create wealth.
> It's all zero-sum.
But this is the same as "conservation of energy". Everything is zero-sum, and yet we still do stuff.
> It doesn't create wealth.
Well I have two answers for this. One is simple: these are financial products, and people need those. The other answer is a question: what is wealth ? Or, what is value? And these questions are like koans, they are both profound and also without solution. Wild price gyrations on exchanges going back hundreds of years are testament to this.
Re: Digital coins may be on the verge of going mainstream
#77Quick question: what do people do with them? Invest?
I made happy returns (poor-student-sized and regrettably non-leveraged) on three occasions simply by monitoring when exposure would go up and timing the end of hype (e.g. when the first senate hearing on BTC). stats.grok.se, forums and HN were good informers. Then I quit. I wish I knew the full answer to your question.
Re: Digital coins may be on the verge of going mainstream
#78Earlier quoted context omitted.
But with Google your Mom can find out when the store is open and where it is. Facebook lets grandparents see photos of grandchildren. Reading a blog replaces reading the gossip column in the daily paper. You could finally buy plane tickets without driving somewhere. And so on. The early web was really fucking useful as it started to mature. It solved a lot of real problems. What is cryptocurrency going to help these…
" What is cryptocurrency going to help these people do that they can't do already today? " International payments confirmed and spendable in minutes not days. Escaping inflation in Venezuela/Argentina/whoeverisnext. Sending remittance to family overseas without 10% wasted in fees. Receiving monetary donations for organizations that might be victim of oppressive censorship. Participating in modern e-commerce for the u…
I am rooting for cryptocurrencies just for cross border payments. What we have today is abysmal and pathetic. We pay a lot of overhead sometimes 3% + 2.5%. I think circle or some startup is about to offer near zero cost cross border payments. We might never need a payment gateway !, per my understanding of the protocol at least.
Re: Digital coins may be on the verge of going mainstream
#79Earlier quoted context omitted.
There is a limited total number of bitcoins and the number of bitcoins is increasing very slowly now so technically the more people buy in the more it should go up. Because there is more money in bitcoins but not more bitcoins.
Thanks. So a physical bitcoin is not worth 1 bitcoin, but rather a percentage of the entire bitcoin market value (maybe not the right term), relative to the number of physical bitcoins, correct?
Huh? There is no such thing as a physical bitcoin. 1 bitcoin will always be worth 1 bitcoin. To calculate the total bitcoin market cap you multiply the number of circulating bitcoins by the current exchange rate for your preferred currency.
Re: Digital coins may be on the verge of going mainstream
#80Bitcoin seems quite straightforward and easy to understand, compared to our current banking system. A lot of comments mention the difficulty of explaining what is bitcoin and how it works, and that mainstream people cannot get enough understanding to start using it. What about the actual banking system? There are so much mainstream ignorance about our current banking system. What does it even mean that I own $2000 at…
It means they are holding $2000 of your money. And if you send it to another bank then it means they send it to them and now the other bank is holding your $2000. Nothing hard about that. Bitcoin might be easy if you're a techie and interested in it. I am not interested in it and I barely even know where to start. What does it mean to mine stuff? Blockchain? What.. There is no way my parents would remotely get starte…
If everyone wants to take their $2000 out at once, can they?
In most countries that's highly unlikely, so is it really $2000? Or something entirely different?