Web 3.0 (Ethereum) is happening, and most people have no idea what it even is.

[MJ DeMarco]

Interesting that at the WH Press Conference today a reporter asked about Cryptocurrency and if Trump was aware of it.

The Press Sec said he was and he was monitoring it along with Homeland Security.

Homeland Security?

Interesting.

Losing the $$ wouldn't hurt me that much but the upside seems huge. I'm okay with that.

Absolutely, it's an "intelligent risk" -- limited downside, unlimited upside. Just no one here should be throwing their entire net worth into it!

 

[MJ DeMarco]

With the ETH run up, I was looking to sell a few. I login to CoinBase and it says, Buys/Sells offline.

I'm gonna guess when I try to pull actually money out of the account, they'll claim the same thing, not to mention the limits imposed.

I'm gonna bet that actually turning your cryptos into hard cash, into your bank account and then to your fingertips is gonna be like splitting an atom.

 

[GlobalWealth]

Sure, but that isn't the issue. The issue is liquidity for the purpose of conversion into something tangible.

Fiat has no liquidity issues. I can transfer that fiat "number on a screen" into a hard asset very quickly. I can't even get $500 bucks out of crypto without having to jump thru a bunch of hoops, withdrawal limits, blah blah.

A number on a screen that cannot be converted easily, poor liquidity, is ripe to just stay a number on a screen.

Obviously as an entrepreneur, you can see why there is opporunity in this realm, not just for investment/currency purposes, but for improving liquidity and access. Right now, it's easier to call the IRS and get help.

I've had no issues with liquidity. But I won't touch coinbase.

And the barrier to entry is exactly why crypto is still not a bubble.

When my aunt mortgages her house to buy bitcoin, then it's a bubble.

But I like the barriers now.

Sent from my VTR-L29 using Tapatalk

 

[GlobalWealth]

How many of the currencies people have mentioned in this thread other than Bitcoin have had a single transaction to actually buy something?

I find this level of ignorance a huge indicator that crypto is nowhere near a bubble.

Even 10 minutes of Google research on his own question would show how ridiculous this is.

And this is perfect.

Crypto is not mainstream.

Most people have zero understanding of crypto our Blockchain utility.

We are nowhere even remotely close to a bubble.

Sent from my VTR-L29 using Tapatalk

 

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[MJ DeMarco]

I literally know nothing about crypto... but then proceeds to make an argument against it...

Oh this is beautiful.

Imagine the insanity of arguing quantum physics with a variety of physicists after you've admitted the extent of you're education rounds out to about 7th grade mathematics and empirical "I see with my eyes" evidence.

That oughta go well.

 

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[Coalission]

We should've kept @arcola in this thread, he's a good inverse indicator.

"Big bets".

 

[MJ DeMarco]

This thread is re-open with all the recent extraneous content removed as it was not conducive to either party.

 

[AdamMaxum]

Still too confusing to understand for majority of people. Until it becomes a standard way to pay and can be easily explained, it will likely remain 'underground' within these communities for the time being. That doesn't mean you can't make money....just not something I want to necessarily immerse myself in...yet.

How do you get cash in and out of the system?

 

[Bellini]

I g00gled "Ethereum" to get an explanation since it was mentioned on the forum. I read a "Beginners Guide" and still couldn't understand it, and I have a freaking Masters Degree.

2 minutes into the above "What is Ethereum" video I was glazed over. Couldn't even finish it. I don't know if that's due to the subject matter or the fact that the guy is not a good teacher. Probably both.



*Edit - Now I understand it a little, thanks to the article I posted later in this thread that simplified things.

 

[Loffinds]

Glad there is a thread going about this. Ethereum is freaking awesome.

I went to school with Vitalik and he is an absolute genius, and he is the perfect person to be heading this project.

Whether you are just in it for the ETH investment, or the tech stack behind the network, keep your ears open as this has the potential to be a massive game changer in the internet age.

 

[Coalission]

I don't know if Ethereum is the answer, but I do think that a ubiquitous and frictionless micropayment system would be MASSIVE. For the simple explanation, just imagine that your rep bank here were directly/instantly convertible into real dollars. Or maybe that each Like/Upvote/retweet or whatever sent a micropayment to the content creator...

Most people won't pay $1 (or the time/trouble of going through a checkout process) for consuming a good piece of content online, but there might be some amount that they would pay if it were easy enough. Maybe 1 cent, or 1/100 of a cent, or whatever. We won't do that now because of the trouble and the transaction fees. Most people online have to monetize their content indirectly (if they even monetize it at all), but sufficiently frictionless micropayments could completely change that, and I think that could be VERY big.

That's already being done by the creator of Javascript and Mozilla (Firefox).

I didn't bother watching the video because I didn't want to waste my time. If I won't do it then neither will consumers.

Maybe you won't, but a lot of consumers actually are "wasting" their time. You can stand by with your arms crossed all you want, but like I said before, you will use these technologies eventually whether directly or indirectly.

Good thing the US Government doesn't consider it a waste of time:

Congress gets serious about Blockchain - U.S. Representative Jared Polis
How the US government is using blockchain to fight fraud | Kathryn Haun | TEDxSanFrancisco - Blockchain Age
The Trump Administration is Buying Into Blockchain Tech - CoinDesk
US Government Invests in Blockchain to Protect Healthcare Companies from Hackers

I thought Web 3.0 was about a big breakthrough in language detection algorithms and advanced interconnection between devices (IoT)...

I agree with fhs8, there are major problems with cryptocurrencies that will probably be unsolvable that won't make them mainstream.

There are no chargebacks nor recurring payments and blockchain technology is open source.

This will be great for banks because they'll be able to safely transfer money over the net using this technology but I think that'll be all.

Why would anyone start using whatever-coin when Bitcoin is BY FAR the most recognizable?

The only reason to invest in alt coins is to speculate and the bubble will burst eventually leaving Bitcoin as the winner for the Joe Blows.

Now I'll go back to my cabin with my horse to play Pitfall on my Atari 2600...

I addressed the IoT point earlier, it will be huge in the future, and blockchain will play a crucial role right alongside it. All of your other issues are known and easily solvable by banks and that's why a lot of the major banks are already onboard.

https://www.nytimes.com/2017/02/27/...ereum-alliance-business-banking-security.html

Many companies have already been working to create their own versions of Ethereum for specific purposes.

JPMorgan, for instance, has created a version of Ethereum known as Quorum that the bank has been using in tests to move money between JPMorgan branches in different countries. Quorum will become a part of the new version of Ethereum being developed by the alliance.

Some of the companies working in the new alliance hope that the private Ethereum blockchains will, at some point, be able to connect to the public Ethereum blockchain, creating a standard for information storage and movement around the world.

“Even if you create private networks, if you can anchor them to public networks, you get an extremely strong set of links together,” Mr. Batlin, of BNY Mellon, said.

It is similar to the way internet and intranet works today. Interoperability between public and private blockchains/ledgers are already being worked on. So the way that from your public internet you can sign into the bank's private intranet to access your balance, make transfers, withdraw, etc. you will eventually be able to sign into the bank's private blockchain and make deposits from your public wallet, withdraw to your public wallet, etc.

 

[Coalission]

He says that if Segwit comes through it will be very damaging for Ether because it will increase the amount of volume that bitcoin can handle greatly (although it is not a permanent solution).

He must not know about Raiden launching fairly soon on Ethereum, built to handle Visa-level transaction loads and higher.
Raiden Network

Do you know about these politics? If so, what is your opinion on them. Does Ether have a lot to offer that Bitcoin simply can't? I ask these questions because I don't really see Ether being adopted by vendors.

No opinion on the politics, any time you get a group of people together building towards something, whether a public or private company fighting behind closed doors in board meetings, to open-source software teams having public squabbles, different people will have different opinions on how things should be accomplished.

As far as Ether having something to offer that Bitcoin can't, Bitcoin is merely a currency. Ethereum is a protocol, that can itself create a currency (like Bitcoin) but also do a whole bunch of other crazy shit through the use of smart contracts using its own programming language called Solidity.

As far as vendors adopting it, it's way too early to think about that. We're still at the point in this technology where we're looking at which banks, governments, universities, etc. will adopt which technology, and I think the answer is clear:

Once companies start building on top of the protocol, and you start getting companies like AOL and Compuserve building easy onramps for people, then we can wonder which of those companies will be adopted by vendors. It's like in 1984 wondering which vendors will adopt "internet". Too early, no vendor will adopt it at that point.

 

[Gsuz]

IN!! Don't want to miss this.. Coming from a guy who deleted his BTC wallet back when they were ~ $10

 

[maverick]

You're so excited about cryptocurrencies but are blinded about the evidence that ETH will NOT be the one used because no one gives a damn about it, Bitcoin is the only one that the public kinda knows, is the official currency used on the deep web and it's the one that everyone talks about, the other ones will perish.

Nobody particularly cares about bitcoin. People are interested in the possibilities that it offers. If you read up on ethereum, you will see that the main difference between bitcoin and ethereum (grossly simplified) is that usage of 'smart contracts'. You can effectively apply logical statements in the contracts thus resulting in endless possibilities.

I don't think block-chain technology will do anything with the IoT because it needs extra processing power and it's a waste of data. What's the benefit of having extra overhead in the packages when you already can do direct communication with any device? Isn't Bittorrent some short of block-chain technology? Why aren't we using it already to connect and transfer information?

This is incremental thinking. We're talking about technology that will fundamentally shift the way we live and work.

My guess is that because this way of communication is decentralized some people think it's better because decentralized sounds cool, edgy and different.

The biggest advantage of decentralization is that there is no owner. Nobody is pushing the agenda and in control of the rules and regulations. It does sound cool, edgy and different though ;-)

EXCHANGE THEM FOR REAL MONEY.

"Real money" . You mean the worthless pieces of paper that only have monetary value due to the implicit contract we agreed upon?

 

[Loffinds]

You're so excited about cryptocurrencies but are blinded about the evidence that ETH will NOT be the one used because no one gives a damn about it, Bitcoin is the only one that the public kinda knows, is the official currency used on the deep web and it's the one that everyone talks about, the other ones will perish.

And the main characteristic of these examples is that they're SLOW, PAINFULLY SLOW. You forget that we people are selfish and are not going to give up SPEED and are not going to have our devices connected 24/7 to share the data of any block-chain database giving up our own disk space. You forget that decentralized also means SHARED and people don't want to share.

Slow?
As in Bitcoin average confirmation time slow?
As in 150 minutes per transaction slow?
Average Confirmation Time

Bitcoin is having ridiculous scaling issues right now and transaction fees and confirmation times are through the roof. Try to process a BTC transaction and you can see how fast your Bitcoin really is.

While we are discussing and arguing this whole Bitcoin vs Ethereum concept, let's once again re-iterate that THEY ARE NOT COMPETING!

Bitcoin was built to solve one problem, Ethereum was built to solve another.
This Quora answer is fantastic -

Purpose

• Bitcoin is a currency
• Ethereum is a platform for running decentralized apps (aka smart contracts)

Supply

• Bitcoin is deflational
  • The overall amount of BTC ever produced is limited
• Ethereum is inflational
  • The ETH supply in unlimited

Security

• Bitcoin is simple and limited
  • The built-in language is stask-based and stateless
  • That’s why you can not express a loop and it’s not Turing-complete (this means, that there are some programs, that are impossible to write)
• Ethereum has a rich programming language built-in
  • The built-in language is Turing-complete (this means that you can code anything you want)
  • More complexity implies more opportunities to make an error

Adoption

• Bitcoin has a first move advantage
  • My mom knows what Bitcoin is
  • The community is a lot bigger
  • It’s easier to get started
  • There are already a lot of places where you can pay with BTC
• Ethereum is less knows and younger
  • It uses “move fast and break things” motto
  • It learned from Bitcoin and fixed a couple of issues in it’s design
  • The community is smaller and therefore has more developers than speculators

To sum up:

• They’re not competitors
• They coexist and solve different types of problems

 

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[parkerscott]

These are all valid questions and ones that have only been answered partially.

• Transactions are immutable which means that you can't reverse/edit them. This solves the problem of cooking the books however does not completely solve the management accounting fraud that happens when higher management is involved.
• Private blockchains will limit access to 'valid' parties however what happens when the banks conglomerate/conspire like in the LIBOR scandal?

The technology is still evolving so, as always, more work needs to be done in certain areas.

I think hes more referring to the consensus algorithm.

If he wants to know what that is, then he is going to need to learn advanced cryptography, game theory, and about things like 51% attacks etc.

In short, the answer is that the system can be compromised although super extremely difficult, but why would the people validating the transactions purposely destroy the system that is paying them? On top of that, they would have to use their own money to disrupt these systems.

These are good questions. It takes a lot of research. Im learning something new everyday it seems like.

 

[MJ DeMarco]

Who cares what a 45 year old billionaire who lives on the cutting edge of technology thinks...we need more videos and opinions on what 90 year old Warren Buffett and Dave Ramsey thinks. @fhs8 any more videos on their deep insight?

We butt heads a lot but I like your cantankerous writing style. (Reminds me of someone, LOL). Your need to write a book in the future.

 

[Loffinds]

Saw this thread on the /r/ethereum subreddit and thought it would be helpful for some people that still aren't sure of Ethereum and it's use-cases.

It is : "Two sentence Ethereum pitch"
Two sentence Ethereum pitch. • r/ethereum

Some of the replies:

"If you want to operate some mechanism that involves binding agreements and reliable bookkeeping -- like a crowdfunding campaign, a remote employment contract, or even a digital currency system -- then you currently need to set up a highly secure central server, and every participant needs to trust you with the admin password.
With Ethereum, you can upload the exact rules of your "game" to an enormous peer-to-peer network where each and every node verifies the integrity of every action, where forgery is made so difficult that even a well-funded state actor probably can't do it, and where all history is backed up across the internet."

"Ethereum is a platform in which you can write programs that are uncensorable and permanent, which can interact with each other in order to perform a wide variety of actions and contracts, including money transactions. This makes possible direct and transparent interactions between two parties that previously required a third party to be effective."

and...

"Ethereum is a distributed virtual machine allowing everyone capable of paying the fee to have access to trusted and verifiable open source computing. It also spews magical unicorns because I don't need the second sentence."

​

 

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[Nomangee]

Really Interesting thread, as I'm already a long time watcher of Crypto currencies and also a quite vary of them.
I know it will be the future, but there are still some flaws to address, like usability and accessibility.

FOREWORD:
The people who say, that they don't understand Crypto's and that's why they dismiss it I really don't get all!

99% of people who use a phone or a computer never understand how all of that works, but can use all of this freaking amazing technology. Sorry, but that's such a naive and fixed look at the world. oO

It's basically like the Gold Rush only in the 21st century. So understand the basics, what this can do and improve in the future and try to profit from it, it's not that hard, especially as we are in an entrepreneur forum...

THE BASICS:
the early adapters of crypto's where mostly developers themselves or people who understood how currencies in our current society work. I only say FED/ECB, printing money out of thin air and putting debt on it.

I specifically use the word currencies, because our paper money isn't worth more then the what it is printed on, only we as a society give it a value, which is completely arbitrary.

Crypto's at the other hand, have an underlying value behind it, called mining, which means you can only create more Crypto currency by using computer power, be it CPU power or GPU power.

You see the difference between Gold (real money) and USD (currency).

A SMALL HISTORY LESSON:
At some point in the past, currencies where also backed by something valuable, which were precious metals, mainly silver and gold, which was called the "Gold Standard".

Unfortunately some people I don't wanna name right now, corrupted the system and switched everything completely around, not only didn't they need to have any precious metal reserves to print new money, but they could print it out of thin air and put debt on it, to create a viscous circle of exponential growth and big crashes, which happens on average every 7-12 years. (2000-20008...)

If someone wants to know more, look at the FED, which is a normal bank and see who owns it (privately held) and how much annual Dividends they get (6%).

These are some great videos about the basic understanding of our monetary system:

CONCLUSION:
Crypto's are still quite new and there is so much upside potential, especially with the statistics we saw in this thread and as we know now, that Crypto's have a value behind it (mining). The opportunities are basically endless, be it to develop software, hardware, short term trade/ long term invest or even something like a nicely designed paper wallet!

For example me and a friend of mine currently thinking about offering a SaaS that would function like Escrow and you can pay with any bigger coin and the receiver could choose a completely different coin to receive the currency.

The bad side of it is mostly that there is still a lot of potential for market manipulations (pump&dumps) and high volatility, even in the biggest market Bitcoin and the rare chance that someone invents a quantum computer and can basically overtake crypto currencies.

FINAL WORDS:
I only put here the basic information, to get an understanding of how much potential crpyto's have. I could go on and on about the topic.

Hope it makes sense, as I wanted to point out that it's not mandatory to have an in-depth understanding about the technology itself, but what it means for our current financial system.

 

[biophase]

i think you guys are putting to much weight on the miracle of the block chain...
like i dont get it, you quote this random shit of tracking a container of items???

how hard is that to do with RFID and a computer program? you need blockchain to do that? not one of you has broken it down as to why it's so incredible because you are just on a badnwagon and don't even understand it yourself.

yeah it's a ledger system. got it. amazing. bro. my mind is blown by a ledger... a ledger that is hard to be hacked, and that all parties agree to it. Amazing. mind blowing.

So based on my limited knowledge, I thought I'd jump in to where I see the value.

I remember that when I bought my Ferrari from a private seller that I was always paranoid about the title and registration. Sure I got the title paper, but what if it was forged? Let's pretend that the title was the RFID and that the DMV was the computer program. I could call the DMV and validate the title the moment before I gave the seller $100,000. But what if he made a copy and sells the car again to another person 30 minutes after? Then it's a race to the DMV to see who really gets the car right?

This is where the central ledger falls apart. There is a time lapse. It would take me 1 day to drive back to my DMV back in AZ and officially submit the title to get my new car into the "system". What if when I do that, the lady behind the counter says, "Um, this title isn't valid, some other person transferred the car into his name yesterday." Or what if later on, someone hacks the DMV and changes the name on the title? The main issue is that the data is stored and maintained by a central system. If someone hacks the DMV and changes the name on the title and I don't know, this data will get replicated in all the DMV's backups. So fast fowarded 2 years later, when I find out, we will need to go back into the archives to see what has happened.

With block-chain, when I give the guy my money, the title is transferred and it is recorded instantly and that record is stored in hundreds of locations. I can feel safe that my Ferrari is titled to me and that this transfer of title has been recorded in chain that has been replicated many times and that is hard to hack.

Same example goes with my real estate. Right now, some data in some computer says I own X properties, or some piece of paper stored in a govenment building says that. Again, it's not a super safe feeling, but it is all we have. Have you ever done a Quit Claim or Warranty Deed to see how easy it is to transfer title on a house? It's scary. I can move my house from LLC to my name in 5 minutes with a 4 sentence piece of paper!

 

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[ZeroTo100]

So...I know this thread had been focused on investing in ETH, but what entrepreneurs should really be focusing on is how we can serve the the crypto market?

What makes it a decent market? It's new and a lot of people don't know much about it - check! It also has its problems - check! There's a possibility that the future of this market could be HUGE - check!

Now, where does the real opportunity exist. I can tell you that for guys like me that take educated risk, it's probably isn't in trading the stuff. No doubt, there are some people getting wealthy (oh weeeee) but it's more likely that people are getting burned big time trading it.

What I find fascinating about cryptos is, aside from the ups and downs of the market and even if you were comfortable with making an investment, you still have to be comfortable with knowing how to actually execute that investment. Like, you can't just go to fidelity and put a purchase order in. You have to know how to use wallets safely or trust that exchanges like kraken are in your best interest (which I don't).

Opportunity 1. Teach people how to do this stuff. Guides, Courses, Ebooks, Groups.

There's also got to be thousands of people out there that probably want to make an investment but want to spread there investment out. Or, maybe they're concerned with using exchanges to execute their orders. I expect to see a lot of holding companies forming with multiple coins/currencies reducing the risk of executing an odder and spreading out the risk for the investor similar to the way mutual funds work.

Opportunity 2. If you're already successful trading this stuff, a holding company might be a good idea.

I also think there is going to be a opportunity for cyber security here - there already is. It's funny, cryptos are supposed to be super secure but yet all you hear about is hacking and money lost.

Opportunity 3. Crypto security firms

Look at the startup world. ICO's are happening. Again, I'm not talking about trading this stuff but if that's you fine. I'm talking about helping startups, businesses raise money with their ICO's.

Opportunity 4. Helping companies market their ICO's, create their own coins, etc.

Just trying to spur some creative thinking outside the realm of trading this stuff and where the real opportunities are.

I hold zero investments in crypto currency.

 

[HackVenture]

Phew! Just finished reading this entire thread from start to end, watched it evolve from a discussion of ETH as a technology to crypto investment towards the end. I'll be following this over to the inside; I just realize that I've paid for the subscription for a few years without visiting much at all and I've got a strong feeling I'll recoup the costs in the next few hours.

I just wanted to give my 2 satoshis about my thoughts after going through this entire thread.

I've learnt that it's very important to not dismiss something because it's "nothing new". "Nothing new" doesn't mean something will not get adopted. I once tried to secure some funding for a project back when I was a student and had to get past this gatekeeper as an administrator who kept trying to put me down by saying my idea was "nothing new" and FB already "did everything I want my app to do" yada yada. Which is why he was working as an administrator and not an entrepreneur.

Of course there is a ton of hype surrounding cryptos. But the hype = scam theory is way too superficial, and there is always a reason for the hype. Yeah dotcom boom ended up in a disaster but still, look how far we've come.

Nobody is here to convince anybody to "go buy btc/eth/whatever". Do your own due diligence, but know that cryptos has the potential to deliver VERY asymmetric returns.

As intelligent and street-smart human beings, make your own decisions, nobody here is obliged to "convince" you about where to put your money.

Bonus: My biggest lol came from the declaration of "I have just discovered the Achilles heel of blockchain." followed by a series of obvious weaknesses that everyone who's slightly knowledgeable about crypto knows about.. Did the first mobile phone in the world launch with full HD color, messaging capabilities, the ability to surf the net, give directions, summon a car, video call a loved one, and catch pokemons?

No, the first mobile one allowed you to make phone calls.. SOME times.. Expensively.. With bad call quality.. And the phone itself costs a bomb.

Iteration baby. Nothing revolutionary comes packaged in a beautiful box with ribbons on the outside.

Exciting times, can't wait to come back to this thread in 5 years' time and revisiting everyone's arguments when everything is clear as day.

Granted, the possible application are more complicated than my puny brain allows me to fully understand, and sure, there are many of us here with way-less puny brains but to say what someone said was "completely false" is really, really annoying to see.

It's been said many times that the blockchain has many many possibilities beyond as currencies. My take is if any crypto ever gets adopted as a currnecy, it will most likely be government-backed. Which goes against the political reasons of BTC's beginnings but just some of the properties of blockchain will already result in a much-improved state of currencies in the world. A government-backed blockchain currency will look VERY different from BTC but I believe it will arrive, and really soon.

 

[James Fake]

Would this be the recommended place for a newbie with a few thousand dollars to play around with to set up an account and buy some ether?

Yup! Although; what I would do is make a small first purchase ($100 or so) on Coinbase to get a general idea of the basics. And then move your money into Gdax.com (owned by Coinbase and also integrated as well) and then buy the remaining ~$thousand(s) from there. The fee difference is Coinbase 1.5% versus Gdax .0025%.. (so for a $2000 buy, fee would be $5 versus $30)

 

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[MJ DeMarco]

Do you have an account on GDAX (sister company to Coinbase)?

Yes, but I've been unable to verify. And I don't give my banking login credentials to faceless third-party corporations.

Funny I've not read this thread in a while. I'd swear MJ said something like "I won't make any money on this thing, but I won't lose any either" at some point early on, just can't find it right now.

It's somewhere in the thread, way early on. That changed when Jamie Dimon and a few other banking whores came out against it.

 

[biggeemac]

I've been playing with crypto just about ever since it was created. I remember bitcoins being worth under $10. Overall, I've lost some money, but not too much.

Here are my rules in terms of alt coins, gathered from years of getting my a$$ handed to me in terms of either losing out on a big win, or getting tricked into buying shit :
1. Listen to NO ONE.
2. Research the hell out of the coins you are investing in and the trading patterns of the folks that are buying and selling these coins.
3. You can make big money if a coin has two characteristics....Either they have HUGE potential, OR, they have a rock-star marketing team that can sell pee on cotton, or a combination of the two.
4. Once you've have identified a coin and have bought in at a level that makes you happy, DO NOT SELL. Hold that shit until either you are ready to retire, OR, there is something fundamentally wrong with the coin that could make it worthless.

In terms of the technology, I have some pretty big concerns about where all this is headed. And I'm not talking about some guys losing a few billions of dollars. I think we are at the start of a major financial destabilization, or a huge interruption at the very least. Crypto could either be the best thing that ever happened to society, or the worst. I do plan to start a thread about where we are headed in our little world with crypto now coming into the playing field.

The end game for me is to buy tangible hard assets, but that doesn't mean that I'm not gonna ride the gravy train.

That's all for now.

 

[GlobalWealth]

Answer the question - how many have actually been used in transactions?

Can a fiat currency actually exist solely as a store of value and no one uses it in transactions?

You people keep calling me an idiot without answering the questions that prove my point


And btw Bitcoin is all over mainstream news along with crypto scams

https://gizmodo.com/initial-coin-offering-backed-startup-confido-goes-dark-1820629969

ETH is used for a lot of different types of transactions including payments, ICO's, and validating smart contracts.

BTC is used for millions of payments. BCH is growing rapidly as a payment application.

XLM is becoming a huge small payment coin and just recently signed a deal with WeChat as a payment solution (huge market).

XRP is adding banks and other financial institutions daily for international transfers and will eventually replace the SWIFT system.

DASH just signed a deal with the POS company that had 70% market share in the US cannabis market allowing dispensaries to accept DASH at the register instead of cash (most dispensaries do not have bank accounts).

I never said you were stupid. You're just trying to confirm your own biases and likely too lazy to do any homework that would easily invalidate your idea that crypto isn't used for transactions.

Sent from my VTR-L29 using Tapatalk

 

[Coalission]

There isn’t going to be 10 prevalent cryptos there’s just going to be bitcoin

all these currencies go to 0 except bitcoin and MAYBE ETH

Bitcoins and Eth are going to be the only two currencies. All the other ones are going to bust

in 3 years only bitcoin, lite coin and ETH are worth anything, and all the rest mentioned in this thread are worth 0

By the end of this thread, your prediction will be "Ok ok, most coins will have value, but not without any dips along the way!"

Learning along the way, are we?

It's like that guy in the other thread who came in proclaiming "Bitcoin will go to zero!", and then eventually it evolved to "Oh, umm, I just meant Bitcoin volatility will dwindle. Here are my Wall Street credentials guys..."

What kind of argument is that if you offered me $10 million in dollars of amazon gift cards that is $10 million US dollars. What if I offered you $10 million monopoly dollars worth of amazon cards would you take it?

 

[Coalission]

I think cryptocurrencies are going to turn out to be a bust outside of what they've already shown promise in: an outlet for tulip mania, and criminal international e-commerce.

 

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[steelandchrome]

There is no reason anyone would want a computer in their home.
Ken Olsen 1977
Founder, Digital Equipment Corp.

We will never make a 32-bit operating system.
– Bill Gates, 1989

Spam will be a thing of the past in two years’ time.
– Bill Gates, 2004

Next Christmas the iPod will be dead, finished, gone, kaput.
– Sir Alan Sugar, 2005
Founder, Amstrad. Member of house of Lords, England

"I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." -- Robert Metcalfe, founder of 3Com, inventor of Ethernet, 1995.

"I think there is a world market for maybe five computers." -- Thomas Watson, chairman of IBM, 1943

"The subscription model of buying music is bankrupt. I think you could make available the Second Coming in a subscription model, and it might not be successful." -- Steve Jobs, in Rolling Stone, Dec. 3, 2003

"Apple is already dead." -- Nathan Myhrvold, former Microsoft CTO, 1997

"There is practically no chance communications space satellites will be used to provide better telephone, telegraph, television, or radio service inside the United States." -- T. Craven, FCC commissioner, 1961

ad nauseam...

"I currently see no good reason to put time and money in anything related to the blockchain concept. Any money put in it just looks like gambling than investment in a compelling play, which strikes me as unwise."
-GoGetter24 2018

Sent from my SM-G935V using Tapatalk

 

[million$$$smile]

@GoGetter24

Secondly, no one is using it for general payments. I've yet to meet a single person in real life who's paid for anything with bitcoin.

https://steemit.com/bitcoin/@steemi...nies-that-accept-bitcoin-and-cryptocurrencies

Sir,
I can understand that you may think that cryptocurrencies or blockchain technologies is not going to be in our future. Fine. I am not going to try to dissuade you of your opinion.
But there ARE a large assortment of companies that are investing in this realm. Everyone from AMEX to Disney.
Have you Googled what companies and investors are investing in this technology? What countries (example Japan) actually consider them a form of legal tender?

I don't want to argue or try to change your opinion, though I am surprised at some of your reasons why it might not be here long term.

Anyway, welcome to the forum. We are all here to learn, grow and help each other.
Good luck on your road to the Fastlane!