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Litecoin and Ethereum buys and sells are temporarily disabled

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Re: Litecoin and Ethereum buys and sells are temporarily disabled

#551

Post by rak00n »

crystaln wrote: post #427
garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

BTC will supplement gold for value storage and will hit a $5T market cap in a few years IMO. It certainly has utility for storing and moving value. Don't underestimate that.

You can't steal gold because someone forgot to update their machine and left it connected to Internet. For bitcoin, yes you can.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#552

Post by piyush_soni »

wallace_f wrote: post #550
piyush_soni wrote: post #507

Earlier quoted context omitted.

Just curious, which ones in your opinion are better tech/efficiency?

In addition to the other response, another example is ethereum's ability to offer smart contracts, which is not possible with bitcoin. Transaction rate limits and power consumption also are more efficiently handled. They're different, which is why I used the term arguable--there's no clear reason afaik that bitcoin should be so valued relative to others, but I could be wrong.

One reason of bitcoin possibly being more valued would be its cap at 21 million (which AFAIK is not there with Ethereum)

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#553

Post by mikefallen »

Frogolocalypse wrote: post #547
mikefallen wrote: post #538

Earlier quoted context omitted.

Ahh thanks frogo always enjoy your input on these crypto threads you really helped me have a deeper understanding of the consensus and game theory aspect of bitcoin that i never caught onto from the white paper. Thanks!!

It certainly took me some time to get my head around it, that's for sure. It wasn't even a 'penny drop' type of realization either. It's why I'm sometimes so short with people who make statements with such confidence and finality. "Bitcoin IS this." without even really understanding the subject matter. I'm not thinking of one month/year timelines for its market penetration. I want to see what it is in another 10 year…

Thanks again your insight is always refreshing. Also i don't think you saw my other comment what debit card service do you use that lets you keep balance in BTC and transfer to USD upon purchase? all the ones i have seen transfer to USD when you load them.

Thanks again!

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#554

Post by acjohnson55 »

davidgh wrote: post #539
acjohnson55 wrote: post #462

Earlier quoted context omitted.

Define "the moon"?

The “moon” is the value required to have the jaw of your doctor / lawyer neighbor hit the ground when you tell them “I own one bitcoin”.

What's absurd about that concept is that it supposes that there's a day coming when people who haven't already bought Bitcoin will want it so badly that they'll be willing to enrich people who are buying in now. I think people who bought in a year ago will be the ones who can claim that sort of reward, at best.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#555

Post by aggieben »

School-Cotton wrote: post #546
smokeyj wrote: post #537

Earlier quoted context omitted.

The price of one bitcoin is arbitrary. $1 is no more crazy than $1 million. It's all crazy. But the question is, what's the supply and what's the demand. At some point there will be a correction. This velocity can't be maintained forever. But this is also a technology that heavily relies on going viral to become functional (payments/contracts) - and based on real world interactions I think crypto is heading towards a…

Bitcoin can never achieve mainstream adoption since the transaction throughput is capped at 3 per second. Maybe other technologies will, but Bitcoin cannot.

This is incorrect. Firstly, it's 10 per second. Secondly, it shouldn't be all that hard to imagine "side chains" or even "local-party networks" being built to handle transactions and use the underlying blockchain as a settlement mechanism. This is, as I understand it, how the lightning network works/will work, and I see no reason to think it wouldn't improve Bitcoin's adoption, which is already orders of magnitude better than other cryptos.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#556

Post by a_tractor »

vkou wrote: post #438
a_tractor wrote: post #418

Earlier quoted context omitted.

Good problems to solve in this space.

By creating an off-chain payment processor called BISA, and we're back to charging merchants fees for cashback + fraud losses, except now we're for some stupid reason doing it on a blockchain.

Wow. Its like you have no imagination at all and your thinking is confined to a prison of pessimism and failure. Thanks for sharing!

The best thing I could say to you is that you need to do less talking about stuff you clearly know nothing about, and far more research.

No offense.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#557

Post by a_tractor »

Frogolocalypse wrote: post #526
zik wrote: post #497

Earlier quoted context omitted.

Bitcoin's pretty broken at the moment due to some bad decisions by the development team. All other cryptocurrencies have very low fees.

The price of bitcoin disagrees with your assessment.

>The price of bitcoin disagrees with your assessment.

What does the price of bitcoin have to do with an objective assessment of how well the Bitcoin network is currently functioning?

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#558

Post by a_tractor »

zik wrote: post #497
geofft wrote: post #424

Earlier quoted context omitted.

Why are Litecoin's transaction fees multiple orders of magnitude smaller than Bitcoin's? Is this a result of genuinely better technical decisions than in Litecoin (mining is cheaper because it's less hardware-friendly, blocks are generated more quickly) or just lower transaction volume / demand for transactions because it's less well-known? That is, if Bitcoin somehow implodes tomorrow and everyone moves to Litecoin,…

Bitcoin's pretty broken at the moment due to some bad decisions by the development team. All other cryptocurrencies have very low fees.

As I continue to learn about the broader cryptocurrency scene and the emerging ecosystem, I have been looking at Bitcoin more and more as the Model T of crypto and less like the BMW i8...

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#559

Post by melq »

aggieben wrote: post #555
School-Cotton wrote: post #546

Earlier quoted context omitted.

Bitcoin can never achieve mainstream adoption since the transaction throughput is capped at 3 per second. Maybe other technologies will, but Bitcoin cannot.

This is incorrect. Firstly, it's 10 per second. Secondly, it shouldn't be all that hard to imagine "side chains" or even "local-party networks" being built to handle transactions and use the underlying blockchain as a settlement mechanism. This is, as I understand it, how the lightning network works/will work, and I see no reason to think it wouldn't improve Bitcoin's adoption, which is already orders of magnitude be…

>Croman, Kyle; Eyal, Ittay (2016). "On Scaling Decentralized Blockchains" (PDF). doi:10.1007/978-3-662-53357-4_8. Retrieved December 10, 2017. The maximum throughput is the maximum rate at which the blockchain can confirm transactions. Today, Bitcoin’s maximum throughput is 3.3–7 transactions/sec [1].

1. http://www.comp.nus.edu.sg/~prateeks/papers/Bitcoin-scaling....

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#560

Post by Frogolocalypse »

a_tractor wrote: post #557
Frogolocalypse wrote: post #526

Earlier quoted context omitted.

The price of bitcoin disagrees with your assessment.

>The price of bitcoin disagrees with your assessment. What does the price of bitcoin have to do with an objective assessment of how well the Bitcoin network is currently functioning?

If it wasn't working, people wouldn't be buying it. You are just going to have to accept that the great bulk of people who use bitcoin do not care about your use case.
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