What about blantant market manipulation? https://hackernoon.com/meet-spoofy-how-a-single-entity-domin...
Who cares?
Things cryptocurrency enthusiasts probably won't tell you
81–90 of 189 posts
Re: Things cryptocurrency enthusiasts probably won't tell you
#82I think that the cryptocurrency/blockchain space is the next big thing in the world on-par with the internet. But it still has a long way to go. In the late 90s you could say "X on the internet" and get tons of investment. Now it's the same but with "X on the blockchain". We are going through growing pains now, and there definitely needs to be some regulation introduced to curb the many scams. My personal hope though…
> I think that the cryptocurrency/blockchain space is the next big thing in the world on-par with the internet
with the difference that internet worked exactly as planned from the beginning, had a clear goal and solved a real problem.
Re: Things cryptocurrency enthusiasts probably won't tell you
#83Earlier quoted context omitted.
Currency pairs have the same counterparty and volatility risk - it is solved with hedges and other derivatives There is nothing inherent in bitcoin to differentiate it from other currencies that doesn’t allow the same derivative infrastructure to be built out and offered (it already is)
not many currency pairs swing in value by 50% any given week
sounds like a problem with the Bitcoin markets and not a problem with Bitcoin.
Re: Things cryptocurrency enthusiasts probably won't tell you
#84Earlier quoted context omitted.
People should take responsibility for their own actions. A lot of ICOs are fluff and high risk. People should be aware of that before they invest. If they don't do their research, they shouldn't blame lack of regulation for their laziness. How would regulation fix this? Who would enforce regulations? You would necessarily have to centralize things and hand over power to an authority. This would defeat the purpose of…
I'm very interested to see how far things can be decentralised. I have no real ideas what this would look like but I wonder if there are decentralised approaches to regulation that would work (community decides together who the bad actors are?)
> I'm very interested to see how far things can be decentralised.
a lot in theory
very little in practice
Re: Things cryptocurrency enthusiasts probably won't tell you
#85Most cryptos are definitely pump and dump ponzis designed to eat your money, there is definitely a technocracy-like barrier for entry if you want to join the crypto bandwagon. Focus your time and energy on BTC, ETH and an anonymous coin like XMR. Any other offering should be met with skepticism.
Another anonymous coin which is interesting is zcash (with the cool URL https://z.cash)
Re: Things cryptocurrency enthusiasts probably won't tell you
#86Earlier quoted context omitted.
>Focus your time and energy on BTC, ETH and an anonymous coin like XMR. Any other offering should be met with skepticism. To elaborate/explain on this point for those less familiar: those three cryptocurrencies actually are based on real technical innovation, and have developer communities producing more technical innovation. There are many other cryptocurrencies that have zero technical innovation (or completely non…
What functional technical innovation is there in ETH that is currently available for use? Some real, usable product that people actively utilize today that's unique and has tangible value?
Ethereum itself is just a building block. It only appeared few years ago, and applications using it are being built right now.
You can see applications built on it -- decentralized exchanges, prediction markets, derivates/derivative markets, gambling sites and so on.
It's kinda ridiculous to demand "actively utilize today", although some apps are in active use, but they are pretty niche.
At this point we talk about what _can_ be built, not what _was_ built.
As for 'tangible value', tangibility is very subjective. There are still people who claim that Bitcoin has no tangible value, but I bet if you were living in a country with an unstable banking system, ridiculous capital controls and high crime rate, you'd see Bitcoin's value
Re: Things cryptocurrency enthusiasts probably won't tell you
#87I think that the cryptocurrency/blockchain space is the next big thing in the world on-par with the internet. But it still has a long way to go. In the late 90s you could say "X on the internet" and get tons of investment. Now it's the same but with "X on the blockchain". We are going through growing pains now, and there definitely needs to be some regulation introduced to curb the many scams. My personal hope though…
> I receive my salary in bitcoin based on spot price tied to USD Why would you want that? Why not just receive USD, and buy BTC each month if you like the price?
> (disclaimer: co-founder of a blockchain project)
Re: Things cryptocurrency enthusiasts probably won't tell you
#88Earlier quoted context omitted.
What functional technical innovation is there in ETH that is currently available for use? Some real, usable product that people actively utilize today that's unique and has tangible value?
All ICOs and tokens are on Ethereum. While Bitcoin has had a script capability for quite a bit, it didn't get much traction.
There are many ICOs and tokens on other platforms, including Bitcoin. E.g. [see here](https://coinmarketcap.com/tokens/). #3 and #4 are on Omni, which is Bitcoin-based.
Ethereum is actually technically inferior as a platform for tokens, but it has a fantastic community which is very much into tokens, so that's why it is much bigger than what you see on other platforms (BitShares, Nxt, Omni, Counterparty, WAVES...)
Re: Things cryptocurrency enthusiasts probably won't tell you
#89"Don't trust exchanges" is something most cryptocurrency enthusiasts will tell you. Make a paper wallet or get a Ledger. If you have a lot of funds, a safe deposit box is also a good idea.
Re: Things cryptocurrency enthusiasts probably won't tell you
#90Most cryptos are definitely pump and dump ponzis designed to eat your money, there is definitely a technocracy-like barrier for entry if you want to join the crypto bandwagon. Focus your time and energy on BTC, ETH and an anonymous coin like XMR. Any other offering should be met with skepticism.
Would love to add Blocknet to this. They are the only project that currently has the capability of enabling cross-chain atomic swaps and creates interoperability by allowing data to be passed with these swaps as well.