I've been following Bitcoin for years and dabbling in some of the alt coins. Its pretty exciting stuff. I guess you'll have heard of it but it is a rich environment beyond what Granny Herald tells you.
Check out McxNow, where a host of alternative crypto currency coins , most of which you'll never had heard of are traded against BTC 24x7x365. Look at the volumes. And the chatbox (trollbox as its known) is insane.
I have also been mining with my standard PC using the graphics cards GPU to give me an advantage on generating some alternative coins. Overclocking the CPU and GPU and cooling it a bit made it a little faster... Certainly not economic , just doing it for the hell of it.
Anyone else keeping up with 21st century trading ?
Will discuss more if any interest shown.
And yeh I know Mt Gox is crashing... they're dorks. Not a life threatening event for crypto. (probably heh)
I like the concept, but because of the unsavoury aspects of what bit/lite/dogecoins have been used for, I won't use bitcoins or any other crypto-currency until I can pay my taxes with them. I'll consider it legitimate then.
I'm not running Silk Road here
or living in a mansion in Coatesville off the back of aiding and abetting pirates
the trading buzz is very alive and manifest in the chatboxes tho so its democratized the trading room even further.
Crypto is definitely disruptive to the status quo and so may bring some **** down on itself
I have no idea whether its a tulip or not and it doesn't really matter to me - just having some fun . I would never recommend it to anyone else , the risks are too high.
What's the reason to keep using Bitcoin? Isn't the whole point behind a currency the concept of trust? Losing the biggest exchange is a huge crisis of confidence in Bitcoin. Can't pretend otherwise.
look, if you have made lots of money in Bitcoin or any other such crypto currency, then good for you. But I just don't see a reason for mass use when it is unregulated and completely lacking in state guarantee. It suffers huge trust issues, on top of the challenges it had before Mt Gox imploded.
The reasons to use Bitcoin are many. Just google "why bitcoin" or something similar, grab a cup of tea, put on your slippers and relax into a long read.
It is obvious from your comments that you don't understand that Bitcoin is the manifestation of the solution of a problem.
The subject is wide and deep, and concerns currency, political and economic control, technology, free and controlled markets, information, trust and security.
Just to take one small part of one sub-discussion, "trust" is a notion that has been changed in many ways by technology. Historically, trust involved handshakes, local reputation, etc. Now, trust is quite a different beast. It is possible, for example, to "trust" (or not) somebody you have never met, and will probably never meet, with a huge transaction. Just using technology. With no centralised authority to mediate the trust. Just not possible in the past.
If you had been keeping an eye on the arbitrage opportunities between the exchanges, and the various discussions surrounding Mt Gox and others, you wouldn't be so surprised to see a technology company fail as they have done.
Bitcoin and other "currencies" won't go away. The technology genie is out of the bottle.
If you don't like Bitcoin, don't buy any.
1990: There's this new-fangled thing, unregulated and like the wild west, called the Internet. Heard of it?
I like the concept, but because of the unsavoury aspects of what bit/lite/dogecoins have been used for, I won't use bitcoins or any other crypto-currency until I can pay my taxes with them. I'll consider it legitimate then.
I assume you don't use cash due to the unsavory aspects of what it's been used for? That's just pathetic propaganda use to influence sheeple.
I recently bought some crypto currency. It's called Ripple and the token is called XRP. Currently it has the 4th largest crypto market cap.
Ripple / XRP has a real world purpose, unlike (debatably) most of the other cryptocurrencies Ripple is out to disrupt the incumbents of cross border transactions.
The idea is that banks will use the XRP currency along with Ripple's technology to settle cross border transactions in seconds vs the current settlement time which as everyone knows, is measured in days. Aside from speed, there is another huge advantage to Ripple. Banks can free up dead capital held in nostro accounts if they use XRP as the conversion currency.
If you want to compare to something like Bitcoin (BTC).. The common analogy is that BTC is like the mySpace or AOL of cryptocurrency. Great if you were in at the start, but was quickly surpassed by better solutions. In this analogy Ripple is Google or Facebook.
Continuing with the comparison, BTC simply doesn't scale. Transactions take a long time -- already nearly half an hour to settle I believe -- and it's getting worse. Also, a huge amount of Bitcoin is also controlled by 5 pools. Over 51 percent from memory. This is the opposite of decentralization which is what bitcoin was meant to be a champion of in the first place. Right now, Ripple own a large portion of XRP. But they have a plan to make it much more decentralized, even than BTC.
Anyway thought I'd share! Be interested to hear if anyone's been looking at Ripple or other cryptocurrencies lately.
hey winner...
its hard to say... a big media campaign pushed bitcoin cash and had people believing for a moment that bitcoin cash was taking over from bitcoin....
the reason behind it is because the costs of buying on the exchanges were very high for transactions so miners were switching to bitcoin cash because fees were lower...
I mentioned sometime ago about bitcoin cash when it was just listed I sort of just overlooked it because I was looking for other investments...
.^sc
oh bitcoin gold you said...
oh well theres some overview about bitcoin cash...
winner... I am looking at bitcoin gold for sure... and now after bitcoin cash lots of othet people will too... It will have its day and get a big pump I will buy bitcoin gold sure mate...
check out powr its australias first ICO its going to be huge
.^sc
Crypto Currencies eg Bitcoin
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Originally Posted by peat
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