DD Support Board and Research Team

[YesWeCannabis]

Lol I agree.

We will definitely go in circles if you keep assuming I mean one thing while I say another. I’ve read this board for years and do respect your opinion. So let’s just move on.

[Zorax]

After all the experiments I’m now more interested in Ethereum and the ERC20 token contracts future. Bitcoin and some like it will be here for a long long time regardless what we “feel”.

Well, now I see why I'm going in circles with this debate. No disrespect, but we're not on the same pages.

"I'm interested"= I've got lots invested...

"here for a long long time regardless what we feel" =it's the next new thing that is never going away .. because I'm going to make my money back.

I'm playing around with the advfn pluscoin thing, just for mechanics sake, but I'm pretty sure I'm not going to make any money with it.

[YesWeCannabis]

Yes. It is weird. It has to be. We are discussing something that has fluctuated 900.00 since we started the debate.

[YesWeCannabis]

You need to reset your angle of attack.

I own .00004578 BTC in one account I’ll spare you the “math” it’s seventy two cents. I started with roughly 50.00 and opened up about 7 accounts with different entities I then made about 20 buys and sells of different coins and tokens. Transfers from account to account. Made a few tokens and then transferred them back in forth. You see, my investment is time and understanding. I need to actually do things in depth to truly understand, a handicap of mine as well as a strength.

After all the experiments I’m now more interested in Ethereum and the ERC20 token contracts future. Bitcoin and some like it will be here for a long long time regardless what we “feel”. And when it is more defined then maybe, just maybe it will get more than 50.00. As for Satoshi, if you ask 100 people who was on the original one dollar bill and 2 of them answer it correctly I’ll go down the rabbit hole with you.

[Zorax]

Something must be the underlying value and Bitcoin is already there.

This is really a weird debate. Something of value and bitcoin is already there? Bitcoin itself is a unbacked speculated value isn't it? We're talking about cloud vapor having values. I certainly wouldn't give some company my 10,000 dollars IRA account to shift into bitcoin.

Think about this, when I said the banks and hedge funds are deep into bitcoins, the banks are investing into bitcoin exchanges and contracts, other than maybe using older blockchain systems for rudimentary long term accounting, Banks are NOT accepting bitcoin for my next house payment. Banks and credit unions are not using bitcoins as currency from citizens. IF bitcoin is so great and been here for years, why not?

[Zorax]

Well, if that exchange opens, what happens to the other so-called exchanges?

[Zorax]

"What I've learned so far is large and important listed companies and private organizations are implementing this blockchain technology. My understanding is it is a kind of distributed ledger that is constantly updated. It won't be a profit center unto itself, but it will enable large companies to operate more efficiently."

Dig a little deeper about how it's supposed to help companies.
In a not so loud whisper it's being discussed in storage and compression and crypto groups that blockchain is showing itself cumbersome and server storage intensive having to do with retention of records and such. The is a real world issue of physical real estate in buildings and investments into possible enormous storage systems just to keep dead data. If this is true, the ramifications haven't even sunk in yet and the people pushing this that aren't end users really don't care.

It's like a crappy diamond mlm where your downline below you holds the cases of fake oil additive all over their house and all you do is sell the concept of selling the fake oil to the next schlep in your downline.

[Zorax]

OMG- shut that right down right freaking now!
You can't even get information at the bottom of the page online without having to open an account.

[scion]

Bitcoin Futures Launch Stokes Fears of Manipulation, Hacks, Glitches

Cboe’s new bitcoin futures are set to start trading Sunday evening

By Alexander Osipovich and Gabriel T. Rubin Dec. 10, 2017 7:00 a.m. ET
https://www.wsj.com/articles/bitcoin-futures-launch-stokes-fears-of-manipulation-hacks-glitches-1512907201

Bitcoin fans are cheering the imminent launch of futures on the digital currency. But critics say the new market could be roiled by hacks, technical snafus or manipulation schemes.

Trading of the first U.S. bitcoin futures is set to begin at 6 p.m. ET Sunday on an exchange run by Cboe Global Markets Inc., while its larger rival CME Group Inc. plans to introduce its own bitcoin futures a week later.

One risk, critics say, is that the underlying markets for bitcoin are largely unregulated and have a troubled history. Mt. Gox, once the largest bitcoin exchange, collapsed in 2014 after being robbed of more than $470 million worth of bitcoin. Other bitcoin exchanges have faced criminal charges of money laundering.

“The Bitcoin cash markets are immature, and hardly seem the epitome of robustness,” Craig Pirrong, a finance professor at the University of Houston, wrote in a blog post last week. “Behemoth futures contracts could be standing on spindly cash market legs.

The shaky foundations of the bitcoin market add uncertainty to a market already known for wild gyrations. Bitcoin exchanges have been plagued with glitches and choppy trading in recent weeks, even as the price of the virtual currency hit record highs—passing $17,000 on Thursday, up from just $968.23 at the start of the year, according to CoinDesk.

For their futures products, CME and Cboe are betting that a handful of bitcoin exchanges are sufficiently reliable and trustworthy to support a derivatives market.

CME is using four of them—Bitstamp, GDAX, itBit and Kraken—to produce a daily bitcoin price index, which its futures would track. Cboe is using one, Gemini, founded by the brothers Cameron and Tyler Winklevoss.

All five of those exchanges have taken steps to embrace regulation and anti-money-laundering laws. Representatives of the bitcoin exchanges said the industry had matured and bolstered its security.

“Exchanges that weren’t up to a certain standard, due to incompetence, have died out,” said Bitstamp Chief Executive Nejc Kodric.

Still, recent mishaps have raised questions about whether bitcoin exchanges are ready for prime time. On Nov. 29, heavy trading sparked by bitcoin breaking through $10,000 the previous evening caused outages at Bitstamp and GDAX, among other exchanges.

CME’s index suffered a “calculation error” that day and had to be corrected, according to a CME spokeswoman. CME was still able to collect data from its partner bitcoin exchanges, she said, but declined to elaborate on the causes of the error.

Some critics warn that unscrupulous traders could push around the price of bitcoin on the bitcoin exchanges, manipulating prices in the underlying market in order to reap profits from the futures.

“Bang-the-settlement type manipulations are a major concern,” Mr. Pirrong wrote. “Relatively small volumes of purchases or sales could move the price around substantially.”

Compounding fears, the bitcoin exchanges partnering with CME and Cboe account for a narrow slice of the market. That means a manipulator wouldn’t need to move the price of bitcoin world-wide, but just on a small number of exchanges.

CME’s four partner exchanges together handle roughly 10% of daily global bitcoin volume, according to coinhills.com, although they account for around one-third of bitcoin trading in dollars, which CME argues is the more important measure.
...
more
https://www.wsj.com/articles/bitcoin-futures-launch-stokes-fears-of-manipulation-hacks-glitches-1512907201

[stockmasterflash]

Referring to the CEO of a company that has been dark since 2011

Call him and leave a message works a lot better , last I talked he was working on audits, the OS is a lot tighter then people think

*****

https://www.otcmarkets.com/stock/UNVC/profile

Phone: [phone]
Email: [e-mail]

******

I called him a few times 3 or 4 years ago. He told me he was working on "getting current". Must be getting close if the CEO is "working on the audits"! ROTFL

[Zorax]

My point is math is math and Bitcoin is 21 Million with 18 decimals (technically 20 if you count the cents). So, it can be split into 100’s of millions. Can it change? Not going down that Satoshi rabbit hole here. But, Plenty to go around, but it’s something about just owning it as a whole Bitcoin which also gives it value.

Not going down the Satoshi rabbit hole? Why not, because the logic would ruin your visions? Throw a wrench into the bitcoin dream?

One guy came up with an idea how to have his own currency he may have assumed he would control and not pay taxes or have government control and now the whole world is expected to drop everything and change to his concept? Like it's made from God?
I suspect that none of this shit that other people are doing to 'enrich' themselves with his theories and math never entered his mind.

Anyone talk with this Satoshi recently? Does he really exist?

[Buckey]

i will look it up thanks

[YesWeCannabis]

Yes. That is it.

And if you’re into foreign films with an ocean eleven feel check out Bitcoin Heist. Although not really about Bitcoins

[samsamsamiam]

BANKING ON BITCOINS
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=134182497

Is that the one you are referencing?

[samsamsamiam]

Well done!
If this was a stock specific board I would be saying STICKY THIS!
Looking forward to more analysis like this as the storyline unfolds.

Thanks!

[YesWeCannabis]

Although rudimentary as a whole. Netflix has a decent film on its origins. Not sure if it’s been mentioned here before.

[Buckey]

AS much as I am terribly sketical, I again revisiting the Bitcoin concept and trying to learn as much as I can if for no other reason to eductate myself.

I was bearish at $500 for gawds sake and was interested and then ended up buying some businesses I knew nothing about so had to learn those. Soget my ld the business after some moderate success but lack of full technical understanding of the businesses was my achilles heel there. Another lesson learned.

At the same time as i am looking at Bitcoin I am also eductaing myself on the weed business as that one I can head around at least from the brick and mortors POV

[YesWeCannabis]

Valid points. You missed the post a few before this one where I said it was about the Blockchain and less of Bitcoin. Trying to separate the two will be damn near impossible. Something must be the underlying value and Bitcoin is already there.

Nevertheless, well said. I thought I was attaching to a different question or statement, not sure how it ended up on this thread.

[Buckey]

i am rusty with creative posts can someone fix that for me

[Buckey]

scaled silver vs bitcoin chart
[img]

http://www.321gold.com/editorials/hamilton/hamilton120817/Zeal120817B.gif

[/img]

[Buckey]

oh dear - IN Canada normally the self directed retirment accounts restrict speculative investments to protect the client - AND RIGHTLY SO.

That chart is well "OFF THE CHARTS" so to speak.

I am definitely NOT a visonary person on future concepts and what might be. Perhaps I am simple, WE know I am skeptical by nature. Anyway I am likely dead wrong but I think we see a correction on bitcoin to the $3,000-$5,000 level followed by further weakness with support at $1,000.

[Monksdream]

It sounds like justifying an investment.

Exactly.

About a dozen pink sheet issues with a blockchain/bitcoin have gone parabolic in the past couple weeks. Some have already declined more than 50 percent from the recent peak. In the days ahead the pink sheet traders will discover more issues and trade them higher for a few days. They will sell and then attempt to discover more tickers to trade.

And so it goes.

But your assessment -- you really did some incredible homework -- which reveals the inherent flaws in this imaginary currency connected to a form of computing technology won't convince everyone. There will always be a subset of true believers who will simply refuse to see the forest for the trees.

[stock_observer_77]

Thanks for posting

Good read

[Monksdream]

Thanks for including that article. I will paste in the last two paragraphs before commenting:

The bottom line is this year's bitcoin popular speculative mania has gone parabolic. Such extreme gains are never sustainable, as they require exponentially-growing capital inflows. Once this greed-drenched bubble stage is reached, it's only a matter of time until the burst inevitably follows. The resulting selling from panicking traders is so violent that most of the mania gains are fully annihilated in a matter of months.

While bitcoin and its blockchain distributed-ledger technologies are amazing and will indeed likely change the world, they don't justify bitcoin's extreme vertical gains. Plenty of past bubbles were based on great new technologies too, but those prices still collapsed once the supply of greater fools exhausted itself. After skyrocketing so darned fast, bitcoin is certainly the riskiest major investment in the world. Caveat emptor!

Way back in the dotcom bubble era Qualcomm (QCOM) split 4 to 1 when the share price was at its peak. I could include a long term chart for the issue but I figure the ticker hasn't seen that price level even after the bust and subsequent bull market that began in the Obama administration and has lasted for nearly a decade. Qualcomm returned to earth but it remains an important and profitable technology company. The same could be said for just about any listed company on the NYSE and NASDAQ in the past 10 years.

What I've learned so far is large and important listed companies and private organizations are implementing this blockchain technology. My understanding is it is a kind of distributed ledger that is constantly updated. It won't be a profit center unto itself, but it will enable large companies to operate more efficiently.

The parabolic graph for silver -- the one for gold is similar -- reminds of something Jim Rogers said in a book about trading I read last century. "Buy value, sell hysteria."

The current bitcoin chart sends a message that says, "you're a fool if you're willing to pay the current price."

But as long as some "fool" is willing to pay the current price, another fool will appear to pay the next highest price until a point is reacher where the next fool willing to pay the next highest price doesn't appear at the trading pit.

Then it's a stampede for the exit.

Mark Cuban became a billionaire because some company's management was willling to pay an outrageous sum of money for his streaming software company. He was smart in that sense. I guess he understood the market for his stock as well as the markets for lots of other internet related stocks had inflated the market values to a point they couldn't be sustained for much longer. So he sold and bought a professional basketball franchise.

The point Michael Lewis makes in his book about four guys who shorted the housing bubble is they realized in order for it to be sustained the lenders would have to lend to just about anyone.

The stampede for the exit doesn't begin with every cow participating simultaneously. All it really takes is a few cows to take off and the rest of the herd will follow. It merely looks like every cow has headed for the exit at the same time.

Even among cows, some are dumber than others.

[samsamsamiam]

Yikes!
Wanna bet people that have no understanding of bitcoins will be signing on for this!

https://bitcoinira.com

http://bitcoinira.com/buy-bitcoin/?AID=798&cID=3392&utm_source=bing&utm_medium=cpc&utm_campaign=Bitcoin%20(BTC)%20-%20Search&utm_term=bitcoin%20ira&utm_content=Bitcoin%20-%20IRA%20(Exact)

[Zorax]

It sounds like justifying an investment.

There was a time not long ago when people thought AOL was the “online”.

"My point being this is the future and people have yet to grasp it, it is here to stay and impossible to remove. Make better, regulate and improve yes, but the future. It is more than a coin or a token; it can track and maintain the record of anything without one precise point of record but thousands."

You're talking about blockchain the process, not bitcoins. The only ones saying this is the future are people that own older bitcoins and trying to sell them off or who have invested big time. We have digital currency right now, it's called online credit banking. You think the debt mongers will allow some unregulated system to take that away? Unless the banks figure out some way to make bitcoin into a debt instrument, it's not going anywhere.
bitcoin is a facade. The energy and storage to maintain bitcoin blockchain is staggering in it's enormousness. Bitcoin is unsustainable energy wise and companies are not going to invest and support the phenomenal server capacity to store every single transaction that cannot change. Not even the highest compression we have can make a dent in the needed capacity in the near future. And the very design that is blockchain does not lend itself to ecommerse or today's world wide accepted UPC systems. It's slow and there's nothing on the horizon visible that will alleviate this problem. Is Amazon going to invest in giant warehouses full of servers so people can buy potato chip makers and electric razors with bitcoin? I don't think so. It's not a paradigm shift like the hucksters are hawking.

No one can make their "own" Bitcoin. They can make their "own" coin or token, but they cannot dilute bitcoin. Cryptocurrency = Coins/Tokens

"They can make their own coin" And they can, this is exactly why bitcoin is meaningless now. Why mine the original bitcoin when you can create and mine another and try to get people to buy that. I have the only ice cream store on the street and can charge unheard of prices for a cone. 5 other ice cream stores move in with their own and charge far less. Is my ice cream still that valuable? No. Is my ice cream so unique it will keep that value? No. I was sure no one could duplicate my special ice cream. They did.

Bitcoin is a cryptocurrency and others are trying to duplicate its success. A coin is currency and gets its value on those who will purchase it. A token has value with those who buy it with coins. (the coin-token difference is a thread on its own.)

What success? Around the world the governments are shutting down unregulated bitcoin exchanges. No store in my state takes bitcoin, and if they do, it's after you pay cash to exchange into bitcoin, which I've never seen yet. No retail or business in my entire day will take bitcoin for services. Not 7-11, Kroger's, Discount tire store, dollar general... none of them. Where's the success? Online buys from the busted Silk Road? Not even my local MJ dispensary takes bitcoin. Online gambling sites? Oh yes, poker stars since shut down. Online gambling owned and controlled by off shore companies? They love bitcoins.

What success? Do you want to bet that if the commodity exchange opens next week, and I thought they said it wouldn't be in place until 2018, that it dive bombs in a week. Why, because that exchange will be regulated and held accountable to make good on the action. Who they gonna call? Can you take possession of the bitcoins in your bitcoin option position or bitcoin commodities contract 3 months out? Does the commodity exchange have final bitcoins on deposit so they can pay out if people call in wanting the commodity, like wheat or silver.
Or is it one big ponzi scheme that the exchange wants to pull off.

Imagine if you could hold and store your money as it gains value and not pay anything or anyone practically for free. No bank, no fees, no middleman. That is decentralization which is Bitcoin.

And that would be anarchy and chaos. And under what speculation proves it's going to gain value?
And how does one securely store their bitcoins? The bitcoin banks which are hacked every other day?
My credit union has never been hacked. Your computer, when you can have a hard drive fail and instantly lose your hash? What happens with a operating system upgrade? Bork your system doing the Tuesday security upgrade. Hopefully the wallet works with the next OS. And advfn pluscoinone is charging a 2% fee to track your account of their coin. That's not free.

As for South Korea or any country or person. Go for it, make your coin or token, the question is who will buy it. I intentionally avoided the last post about South Korea because of its a hot topic on something that happened last week, as if Bitcoin craze is new or something.

It's not new, but it's reality that people don't want to accept. The original bitcoin is meaningless now, and only people that hold it want other people to believe it still holds value. When the general market finally grasps the Holland Tulip analogy, they'll be looking for taxpayers to bail them out.
I said it before and I'll say it again, the banks and hedge funds are in bitcoin heavy, ANY bitcoin and they're going to take the hit. But like last bubble they created, we will pay for it. You can bank on that. Can I cash in my Ehereum for bitcoins? How many Ehereum do I need for a bitcoin? And tomorrow, can I get 26,000 cash in hand by 9 am?

People in this game ain’t your regular ole schmuck traders.They are young college-educated techies looking to be the next cypherpunks. They are funding ideas and concepts and have no delusion of it being a complete gamble when they do so. If one was to say or ask if there is a level of criminality or fraud here, it is from a code hacking perspective and not OTC type dilution. Meaning hackers hack hackers, and it's hard. 70 Million just got hacked, and we all can see the account and where it's at, they can spend it right in our face, and there is nothing a damn soul can do.

And this doesn't look like a problem to you? Yep, the last bubble was- wait for it- college-educated techie cyberpunks, who like todays cypherpunks aren't looking beyond next week or outside of their basement to see what real people are doing. And 90% of those punks failed. They forgot to factor in living breathing everyday people. When dot-com companies were asked to come up with the money that their false market caps justified and the loans they got, they said oops, we were only being creative.

Then I, and the rest of the innocent citizens lost houses and life savings to cover the 'too big to fail' real bank criminals while they walked with millions upon millions of golden parachutes and their lawyers got filthy rich.

Bitcoin is going to be the pin to burst your bubble. I don't appreciate cleaning up the mess.

Ladies and Gentlemen we are in Boston, it 1773 and the tea is slowly being thrown overboard.

This is nothing like Boston. We're not challenging a foreign government or revolting against foreign taxation. Bitcoin is one persons original idea to circumvent paying taxes and government control.
Simple as that. Who used bitcoin the most? Only people that wanted to transact business without paying taxes or government regulations. Like the Silk Road and the ilk, who trafficked on the dark web selling guns, hard drugs, bomb kits, MJ, kiddie porn and evreything else you can't get at Walmart. And of course the porn business, who are always the first adopters in anything monetary. OH and don't forget online offshore gambling, where payouts are always missing and no way to collect.

Sure bitcoin is the new future.

[janice shell]

LOL!! Lucky Bulgaria!

[YesWeCannabis]

Wrong? Say? Bitcoin isn’t a thought, feeling or speculation. It’s a coded contract equation that all can see. The statement alone sounds a bit funny.

2 + 2 = 4 How can that be different? It can’t unless somehow or someway we convince the world that we have decided to make the 2 an extension of the 3.

My point is math is math and Bitcoin is 21 Million with 18 decimals (technically 20 if you count the cents). So, it can be split into 100’s of millions. Can it change? Not going down that Satoshi rabbit hole here. But, Plenty to go around, but it’s something about just owning it as a whole Bitcoin which also gives it value.

You post your Put and I’ll post a picture of a Bitcoin on this thread every $5,000.00 and a dollar to a doughnut by the time I post my picture you’ll be out of your Put.

It is all about the Blockchain Technology. Not the small little pieces that make it. And yes, in the grand scheme of it all Bitcoin is just a tip of the iceberg.

And a DD Board on Bitcoin will need ICO pioneers, Hackers, Coders and a shit load of general technology knowledge peeps to decipher.

[Sleepy2016]

Bulgaria’s GDP is about $52.4 billion (2016), so it is quite a shock that the Bulgarian Government is sitting on an approximate $3 billion worth of Bitcoins seized in an anti-corruption operation back in May

http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin

[Buckey]

check out the chart down below comparing it to the silver bubble.
http://www.321gold.com/editorials/hamilton/hamilton120817.html

[Monksdream]

Whenever a pink sheet stock hits the skids after appreciating several thousand percent, the chat forum on Ihub focuses on short sellers. The debate, if one could call it that, gets to a point that short selling is somehow inherently evil and should be outlawed.

During the dotcom mania era from late 1998 to early 2000 all those NASDAQ stocks that appreciated several thousand percent began declining. Again, there were the complaints about short sellers.

After the dotcom bubble burst Wall Street came up with a new angle to entice speculators: the mortgage backed bond. If you read Michael Lewis' "The Big Short" it's a story about four guys who took the other side of the trade and made huge profits off of what was a financial bubble.

Maybe Wall Street's lack of participation in bitcoin promotion is the fact it didn't create it the same way it created dotcom, telecom and biotech IPOs with foundations made of sand. As long as a people would buy just about anything with the word dot.com in its corporate name it didn't matter. Wall Street merely attempted to satisfy public demand for anything new -- and cheap at the onset -- that would appreciate several thousand percent.

The proponents of bitcoin, as I perceive it, make a simple argument which says, "this time, it's different." Seasoned professionals like Warren Buffett (we also use him as the example) will tell you whenever you hear that statement, turn around, walk the other way while thinking about sell short.

So now the financial markets have created a mechanism for speculators to benefit from a decline in the market value of bitcoin. This is only fair. Others, of course, would argue for the contrary view.

[Koog]

..... forking is somewhat of a problem, but one that tends to resolve itself when people vote with their feet.

Unless they get Forked before they get out!

[Buckey]

what if they are wrong? what if there are more bitcoins out there than they say? So unanmed people say its so is not good enough for me.

Crash?

Think math here for a moment.

There can only be 21 million Bitcoin mined. And every single person of minimum technology understanding has heard of it. 16k might just be a super joke bargain and far from a crash.

hunder

Other than the obvious which I buy bitcoin because it is going up and I can sell it higher give me a fundamental reason on why one coin is worth $15,000. Eventually common sense and fundamentals will have to rear their ugly head in this tulip bulb craze. WE lived the dot com boom and saw tone of crazy Market capitliaztions because of the gerat fool theory,

I will be positing my starting put positions on Monday

[YesWeCannabis]

There was a time not long ago when people thought AOL was the “online”.

My point being this is the future and people have yet to grasp it, it is here to stay and impossible to remove. Make better, regulate and improve yes, but the future. It is more than a coin or a token; it can track and maintain the record of anything without one precise point of record but thousands.
No one can make their "own" Bitcoin. They can make their "own" coin or token, but they cannot dilute bitcoin. Cryptocurrency = Coins/Tokens
Bitcoin is a cryptocurrency and others are trying to duplicate its success. A coin is currency and gets its value on those who will purchase it. A token has value with those who buy it with coins. (the coin-token difference is a thread on its own.)

Imagine if you could hold and store your money as it gains value and not pay anything or anyone practically for free. No bank, no fees, no middleman. That is decentralization which is Bitcoin.

As for South Korea or any country or person. Go for it, make your coin or token, the question is who will buy it. I intentionally avoided the last post about South Korea because of its a hot topic on something that happened last week, as if Bitcoin craze is new or something.

People in this game ain’t your regular ole schmuck traders.They are young college-educated techies looking to be the next cypherpunks. They are funding ideas and concepts and have no delusion of it being a complete gamble when they do so. If one was to say or ask if there is a level of criminality or fraud here, it is from a code hacking perspective and not OTC type dilution. Meaning hackers hack hackers, and it's hard. 70 Million just got hacked, and we all can see the account and where it's at, they can spend it right in our face, and there is nothing a damn soul can do.

Ladies and Gentlemen we are in Boston, it 1773 and the tea is slowly being thrown overboard.

[janice shell]

It's tanking again tonight. Down to 13,881...

[samsamsamiam]

Bitcoin Energy Consumption

https://digiconomist.net/bitcoin-energy-consumption

Did you know?

Ever since its inception Bitcoin’s trust-minimizing consensus has been enabled by its proof-of-work algorithm. The machines performing the “work” are consuming huge amounts of energy while doing so. The Bitcoin Energy Consumption Index was created to provide insight into this amount, and raise awareness on the unsustainability of the proof-of-work algorithm.

More...

[CarloRoberts]

BTSC is the ultimate example of that.

[stockmasterflash]

Though that is true

There are a gazillion different soveriegn currencies. Most are worthless. Even those with value, technically arent worthnearly the value assigned to them.

"mining" is sort of a misnomer. It doesn't really create coin out of thin air. Printing money. It's more specifically a commission for using your computing power to verify and validate transactions on the block chain. Bitcoin is having problems right now as the popularity has caused comissions to soar and transaction times to slow. That's part of the "selloff" this weekend.

forking is somewhat of a problem, but one that tends to resolve itself when people vote with their feet.


Again, my dsclaimer, I don't know whether the ultimate value is higher or lower or multiples higher from here. But this is the future of Fiat money. There will be a few surviving crypto currencies.

I think a big turning point for governments came when the selling point of anonymity went away and transactions began to be tracked fairly effectively. Like a dollar bill, it doesn't have your name on it. But the moment you spend it, the whole world knows who last held that dollar bill.

[Zorax]

I think if you go back over a lot of your results and literature, you'll see that most if not all say they're 'blockchain' companies providing services, most of them are still staying away from the 'bitcoin' word.

[Zorax]

There can only be 21 million Bitcoin mined

How many forks are there? Are you forgetting this?
Isn't this a form of dilution when people create their own bitcoin?
At what point does South Korea create it's own cryptocurrency and deem all original fork worthless? I don't see any international laws that says they can't.

[Zorax]

Why do I get the feeling that we taxpayers will somehow foot the bill for the bail out again as US banks and hedgefunds reveal how much they invested in bitcoins.

[janice shell]

Oh yeah, that too.

[surfkast]

Also INFRAX SYSTEMS, INC.


Cryptocurrency Corp., through its business units, invests in Crypto assets, Provides Blockchain Technology Consulting, ICO Consulting Services, Tokenization of Asset Funds & IoT Related Intelligence & Security Based on Blockchain.

Infrax Systems is intending to concentrate on IoT technology development using blockchain (IOTA).

[janice shell]

lol, I think it's safe to say STBV's "troptions" will be among the losers...

[stockmasterflash]

There's been a rotation

into some of the other larger cryptos. GADX the major US exchange owned by Coinbase, the largest US "wallet", trades bitcoin, Ethereum, and Litecoin. (in USD, GBP, and EUR)

While Bitcoin has been sliding the past 2 days, Ethereum has been up about 50% and Litecoin has doubled.


https://www.gdax.com/trade/BTC-USD

There will be multiple winners. There will be thousands of losers. There will be tens of thousands of scams.

Bitcoin, Bitcoin Cash (and offshoot), Litecoin, Ehereum, are likely going to be the survivors.

(That doesn't mean I have an opinion any of them are worth more or less than what they are trading at today) It's a worldwide mania going on right now. eBay, Amazon, Goog were all worth something. CMGI, Pets.com, Myspace....were not

(The new England Patriots stadium sold naming rights to CMGI for a while -- Think how close Shea Stadium came to being Spongetech field

[janice shell]

Online trading firms mushroomed at that time. The ads promoted the notion that the little guy could outperform the experts.

And they still do...

[janice shell]

I see bitcoin's down to 14,400 today...

[Hattori Hanzo]

They don't have a business model because there's never a business, the model is to score yourself some floorless convertible free trading debt and rent a dump truck

[Monksdream]

This is a typical rationalization in pink sheet land:
Shotgun-20 Friday, 12/08/17 07:55:00 PM
Re: None
Post #
9015
of 9062 Go
I don’t think futures and options will be good it’s going to slow down the pace of cryptos or even drive them down with is what big institutions want they see all the everyday folks getting rich and thier dying to short the shit out of it to keep cryptos from competing with regular global currency.

Look at gold it’s valuable but doesn’t move enough to make a lot of money unless your playing with a lot of money

[Buckey]

the pinkies chase whatever is hot and rarely if ever have a business model. I know some CDN miners went dotcom then back to gold then various other hot things and then weed then crycptocurrency LOL