OT: Any crypto currency investors? Blockchain technology is taking off
Blockchain technology has been called "the Internet 2.0". It is a way to decentralize not just finances but information as well. Here is a super simplified youtube video explaining it but there are also great Ted Talks about blockchain in general for further information.
Bitcoin first introduced blockchain in 2008 as an answer to the banking crisis. I remember hearing of it in 2009/10 in some of the less-then-legal websites for a very reasonable price. It is now going for over $4400. Many other companies have started their coins asking for investors in their ICO. Some have great ideas while others have been scams.
There is huge potential for gains in crypto right now. I have put very little over the past two months (mostly over the past two weeks) and am up 50%.
Businesses such as Bank of America (filed numerous blockchain patents over the past few months), VISA, Apple (looking to connect with Dash), MasterCard, housing industry from mortgages to insurance, Walmart and even the US Government (for keeping track of visas and refugees etc) are looking to establish blockchain networks.
So, any other crypto daytraders or holders (hodlers) out there? What coins do ya' have, what do you like?
I am holding onto:
- Bitcoin: because it is constant and well established
- Monero: One of their features in the fungibility. But what peaked my interest is the true anonymity of the coin. Even the government who busted one of the leaders of the biggest darkweb sites could not truly tell how much XMR (monero) he owned.
- Iota: It allows for fast micro transactions and is looking to be an easy factor for online gambling and forums
- NEO: Because they give you GAS coins for holding onto NEO coins. Businesses in turn use the GAS.
As I'm only putting little bit at a time because with great gains can come super fast losses. The crypto market is 24/7.
I'm looking to add Ethereum as their network and contract setups is a baseline for other businesses and coins as well. It is also another constant heavy hitter. Litecoin as another constant. I need to research Lisk (LSK) but they are making huge gains recently.
By the way, friends. Here for example is another very surprisingly profitable solution for bitcoin owners on this site https://duckdice.io. All you have to do is just guess the right number thanks to your gut instinct and win numerous prizes. I advise you to take a closer look at this gambling resource and many guys speak very well about the game of dice for bitcoins.
August 25th, 2017 at 4:35 PM ^
and it would be nice if my broker (TradeStation) were to add cryto's to the menu. I have a peer that trades cryto's and does well. I wouldn't mind getting into ETH. The volitility is ideal for scalpers/day traders. I currently trade futures, mainly currencies and energies for the moment. If the crypto market doesn't mind being regulated, I can see it becoming more of a widely accepted commodity to trade. How all that unfolds is beyond me tho. That's above my paygrade. But here's hoping.
August 25th, 2017 at 4:37 PM ^
August 25th, 2017 at 4:46 PM ^
there is nothing new about blockchain. at all. its a centralized ledger. thats it. it has existed for quite a well, especially in the stock market. Now sure maybe its a cleaner code, or faster or since open source more centralized blah blah; but its not nearly as revolutionary as people want it to be.
For the record I read everything I can about this stuff because it is talked about so much so I want to make sure i'm not missing anything. At the end of the day I would never put any money in it; wayyyyy to volatile for wayyy to many unknown reasons. No way is it the currency or money or whatever of the future. it has been and always will be dominated by people who want to obscure their financial transactions.
not to mention for amazing as block chain is supposed to be there have been a small but impactful number of thefts in its history.
What I find most fun about it though, its like we are re learning EVERYTHING we learned about monetary policy and money real time. Its awesome. I love at some of the things people are amazing and discover through this journey despite it being lessons already learned.
August 25th, 2017 at 4:47 PM ^
this is way too OT; even for this board. 7 hours can NOT come fast enough
August 25th, 2017 at 4:47 PM ^
this is way too OT; even for this board. 7 hours can NOT come fast enough
August 27th, 2017 at 10:10 AM ^
US dollars are never used by criminals in illicit trade and money laundering. SEC boosters always pay recruits with bags full of bitcoin.
August 25th, 2017 at 4:37 PM ^
Yes, I definitely understand what we're talking about in this thread and I have valuable things to say about it / them
August 25th, 2017 at 4:59 PM ^
Based on these (and other) comments there seems to be a lot of speculation in crypto currencies simply because of past performance. Historically that's indicative of a bubble.
To be clear, I'm only speaking with respect to crypto currency valuations, not blockchain technology.
August 25th, 2017 at 5:08 PM ^
SO would have checked out if you tried to sell me tulips
August 25th, 2017 at 5:20 PM ^
There was the famous tulib bulb bubble in the 1600s...
August 25th, 2017 at 5:24 PM ^
thanks
August 25th, 2017 at 6:16 PM ^
Wait so past performance is not necessarily an indication of future earnings? Umm, yea of course everyone knows that.
But when I opened my IRA or my mutual fund in an S&P 500 Index i most definitely took into consideration past performance of such investments
August 25th, 2017 at 6:18 PM ^
and pedantic; thats often times the perfomance of a manager, or a strategy, not an individual stock.
August 25th, 2017 at 6:33 PM ^
S&P 500 is a group of stocks, nothing to do with a manager or strategy. Just stocks
August 25th, 2017 at 6:35 PM ^
i thought you said mutual fund, or S&P 500. Either way point remains, stocks come and go all the time.
If you told me there was an index that could track all crypto currencies, or alternate forms of money (commodities, digital etc) then yeah thats a solid investment that you can use past performance to predict future
August 25th, 2017 at 6:58 PM ^
ETFs
August 25th, 2017 at 7:15 PM ^
August 25th, 2017 at 7:30 PM ^
Are you refering to something like a basket fund of currencies consisting of say, the USD, EUR, Pound and Yen? Just asking for my own clarity.
August 25th, 2017 at 7:32 PM ^
August 25th, 2017 at 11:27 PM ^
We're very trained to see things that go up too fast as "too good to be true". However In my opinion that's just because the average joe investor has been completely locked out of the high risk investing world by the SEC. The land of venture capital often sees returns with huge multipliers that you and I would never ever in a million years see on the public stock market. It's true that much of the value is based on speculation at this point - but doesn't neccesitate that there is a bubble. Speculative value is based on often estimation of future value. Very big players like deloitte and accenture predict blockchain techonologies to be worth trillions in the coming years.
August 25th, 2017 at 5:21 PM ^
August 25th, 2017 at 11:19 PM ^
This is a good point. You've definitely hit upon one of the concerns especially with bitcoin. The "re-centralization" forces at work due to ASIC mining of bitcoin gives a lot of control over the future of bitcoin to those miners. There is also a power struggle based on disagreement over upgrades to the protocol for scalability (mainly block size increase) that resulted in the hard for called bitcoin cash.
This is actually a positive outcome for the community in my opinion as those who hold differing beliefs on what is best for the future of the coin to follow their specific coin of choice. This is made possible by the open source nature of blockchains such that anyone can "fork" or create a new coin from an existing coin but change or adapt it in any way they want. Then the free market can essentially decide what coin they think is most valuable.
Additionally other coins have chosen alternate consensus mechanisms to the standard proof of work established by bitcoin. Ethereum will likely start the transition to proof of stake next year which will eliminate the need for computational mining and replace it with a staking procedure whereby you lock up your funds for a specificed period of time.
It's an absolutely fascinating and evolving world out there and there are tons of really smart people attacking all of these problems.
August 25th, 2017 at 5:27 PM ^
is used to finance terrorism, launder money or hide drug cash.
impinges on state monopolies on money.
It's not hard to imagine some blowback.
August 25th, 2017 at 5:30 PM ^
you defined cash. cash is the number 1 way to hide drug money, finance terrorism, etc etc; which is why you hear of proposals to eliminate cash alltogether from time to time
August 25th, 2017 at 5:36 PM ^
understand a mother freaking word of this topic. But for some reason it was still damn interesting.
August 25th, 2017 at 5:47 PM ^
August 25th, 2017 at 11:20 PM ^
Antshares has been rebranded to NEO.
August 25th, 2017 at 5:48 PM ^
I know Bitcoin. I know Blockchain. I am prepared to answer your questions re these right here and no, I won't promote any service and I absolutely won't encourage people to take part in a bubble (which it appears this dude is doing)>
August 25th, 2017 at 6:21 PM ^
your points are in the negative so you cannot be trusted
August 25th, 2017 at 6:26 PM ^
I know Bitcoin. I know Blockchain. I am prepared to answer your questions re these right here and no, I won't promote any service and I absolutely won't encourage people to take part in a bubble (which it appears this dude is doing)
better now? I have positive points sooo can I be trusted?
August 25th, 2017 at 6:34 PM ^
No, I have more points than you so you cannot be trusted
August 25th, 2017 at 6:36 PM ^
or brian! weigh in on a final decision!
/s
August 25th, 2017 at 6:28 PM ^
offer remains for everyone else
August 25th, 2017 at 7:28 PM ^
August 25th, 2017 at 7:37 PM ^
than to sell bitcoin.
sort of the opposite of a piggy bank;-)
where it's hard to save, easy to take out.
August 25th, 2017 at 6:25 PM ^
I've never been more happy to know that according to most actuarial tables I will die before any of this affects me.
August 25th, 2017 at 6:26 PM ^
One thing I think about a lot is whether and when the SEC will start regulating ICOs like stock offerings.
August 25th, 2017 at 6:29 PM ^
may not be the SEC. If its viewed as an investment its the SEC; but if cash equiv then its the Fed potentially.
I belive the NYSDFS has already started to regulated it a bit in NY (or had something about it; my memory is fuzzy on it)
August 25th, 2017 at 6:46 PM ^
Depending on how they wanna classify it.
August 25th, 2017 at 6:57 PM ^
IOTA is the future.
August 25th, 2017 at 11:21 PM ^
Wow it's amazing to see other IOTA backers here. Couldn't agree more my friend.
August 25th, 2017 at 11:49 PM ^
I'm a big fan of IOTA as well, it is a large portion of my holdings. Monero is probably the one I am most excited about. Yes, for ulterior motives. While I know about and have been to the darkweb it is that area that I think will truly accelerate monero. 'Regular' businesses will use Monero as well, but it was the darkweb that got btc running and ai believe will give XMR a good push. The trading in asia that is opening up soon certainly has boosted it nicely today.
August 26th, 2017 at 3:34 PM ^
Yeah, imagine the price of IOTA once it hits more than Bitfinex and gets a somewhat user friendly wallet :)
August 25th, 2017 at 7:10 PM ^
August 25th, 2017 at 9:59 PM ^
Several years ago when bit coin mining was pretty simple Now you need hours of number crunching on parallel servers to even find a few coins. I did buy 10 bit coins in an online purse 6 years ago which cost me $60.00. I heard they are worth over 20,000.00. Sure wish I would have bought more of them 6 to 7 years ago. One of the co-founders of bit coin, a guy from Argentina is predicting that in 10 years 1 bit coin could be worth 1 M. But he also said there is 20 percent chance it could be worth nothing in 10 years.
August 25th, 2017 at 10:02 PM ^
I was really surprised to find out that crypto trading is a legit thing and even that Crypto Trading Bots really work. I am still not ready to invest a lot of money in the thing but at least now I am thinking seriously abou it.
August 27th, 2020 at 1:36 PM ^
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