Cryptocurrency. No GF quotes here!
Just starting a convo on the whole subject just as I got into it! Bought a tiny amount and looking to lean more about trading it, diversifying the portfolio, storage and use.
Seeing that we have a few IT nerds around AKC’s neck of the woods maybe we’ll get an expert’s take on the subject.
Share your ideas and knowledge about the subject so we can all make enough moolah to retire and shitpost 24/7!
And no GF quotes here because we’ve had more than enough! Plus WBfitness is computer challenged so we’ll be free of macaroni people sperging out on this thread.
Guest last edited by
@b1k3-ch41n lotta money in that digital powder…
What’s will the next big hype in crypto be?
From the research that I’ve done so far Augur, Ripple and Monero seem like good choices. I look at the market cap to see how many coins can be produced hoping that when the big boys on Wall Street start buying the value will go up like crazy.
@bem a GF quote? what’s become of you bem?
Murdoc34 last edited by
It’s interesting you used the word hype. Because that might be all there is to a lot of them.
Honestly, I haven’t been watching any of the cryptos recently. I would be concerned about the proliferation of currencies, though. If everyone has their own currency and can create more on a whim, they’re worthless by definition. Also, for a lot of the newer currencies, nobody accepts them aside from other currency traders. Not exactly a robust market if it’s full of narrow interests and means. If you only have essentially one outlet to sell into, then you’re not the one in control and your value isn’t protected.
"It’s interesting you used the word hype."
Because that’s all it is to crypto currency at the moment. It’s value comes mostly from purchases driven by vague rumours online and mass hysteria as was the case in December last year.
Bitcoin for example has no intrinsic value other than as a protest coin for when the fiat currency is no longer performing as it should like is the case in Venezuela.
They have not use aside from donating, buying other crypto and short term trading (if you can call it that). Aside from Ripple which was just used for an experimental money transfer from US to Mexico and Enjin (Korean) which is rumoured I couldn’t find much in the way crypto can be used.
What’s your take on this?
Ransom last edited by
@murdoc34 Chinese paper money blew Marco Polo’s mind so hard he came back to to Italy and invented his own shirt, one that has stood the test of time.
We don’t use $ just because Uncle Sam demands his pound of flesh denominated in dollars. We use it because we have a widescale expectation that we will be able to use it tomorrow, based on our experiences yesterday. Money doesn’t have any intrinsic value, it’s kind of a de facto, open-ended method of negotiating agreement over goods and services.
Heck, even gold doesn’t have intrinsic value. Wheat does, unless you have gluten intolerance.
Yeah, crypto is hype. The internet was hype at one time. So were bicycles.
Will crypto last long enough to pass beyond hype into the vernal realm of mundane transactional goodness? In some form or another, I don’t see why not.
But which one? I couldn’t say. Bitcoin has the first-mover advantage in awareness and social proof, but that guarantees nothing. I like Monero; I understand that it is a lot more untraceable than Bitcoin.
I don’t own any crypto at the moment.
I know you can buy from Target with Bitcoin. Ah, NewEgg too I believe.
How do you guys do crypto? Coinbase?
@ransom The first mover advantage is what im after. Seems more doable than the real stock market because it;s about one thing: the hype around the coin. Buy cheap and sell after the currency accrues some value.
Ransom last edited by
@b1k3-ch41n There is a scary number of cryptocurrency podcasts out there.
The Bitcoin Podcast Network (www.thebitcoinpodcast.com) covers theory, new developments, buying and selling. Pretty good stuff.
The Bad Crypto Podcast (www.badcryptopodcast.com) is pretty friendly for newbies like me. Lots of interviews with new guys.
I am not as hip with text sources.