Bitcoin update.

[NYCBlue]

I bought some Dogecoin this morning. It went up 40% in 40 minutes. Soon came down to earth though. Although it did finish the day up 10%.

[city1927]

Does anybody know anything about this so called peoples powered network?

https://www.helium.com/

Is this another type of Bitcoin?

[WJ99mobile]

Christ.

Off a cliff today!

[lardy]

Christ.

Off a cliff today!

Binance under investigation in the US, China bans crypto, and tether, the company supporting usdt (the stable crypto used most often for trading), don't have the finances to tie it to the us dollar.

Looks like all crypto is suffering.

[Wash DC Blue]

Binance under investigation in the US, China bans crypto, and tether, the company supporting usdt (the stable crypto used most often for trading), don't have the finances to tie it to the us dollar.

Looks like all crypto is suffering.

Down by a ridiculous amount.
Thinking of buying.

[tforturton]

XRP is the way to go. You can thank me later.

[city1927]

XRP is the way to go. You can thank me later.

I have heard the same thing regarding XRP ripple from a colleague in work. He reckons once the court case is over the price will rise on them

I would not know how to purchase them, where do buy into these types of currency. What is a trust worthy site to use?

[Wash DC Blue]

I have heard the same thing regarding XRP ripple from a colleague in work. He reckons once the court case is over the price will rise on them

I would not know how to purchase them, where do buy into these types of currency. What is a trust worthy site to use?

I have a small amount of XRP.
I use Coinbase.

[city1927]

I have a small amount of XRP.
I use Coinbase.

Thanks for that. Just having a little look now.

[Its been emotional]

Trading in XRP has been suspended until the outcome of the court case.
Any idea the date of the case?

[delmbox]

Trading in XRP has been suspended until the outcome of the court case.
Any idea the date of the case?

It's only suspended on Coinbase, you can trade it on binance or etoro

[surge]

Here's why bitcoin is a danger to the environment: The cryptocurrency’s environmental impact has so far been largely ignored by governments, environmental charities and banks that facilitate this vast industry. But since Elon Musk’s recent bitcoin comments, institutions have started to take notice.

Bitcoin consumes about half as much electricity as the UK. Why does it have such a huge carbon footprint?

https://twitter.com/i/events/1395815800280342529

It's the future!!

[Rock_Flock_of_Five]

No equipment required. You can usually commit your stake to the liquidity pool directly from your wallet. In the case of zilliqa, you can use zillet or moonlet.

If Ripple win the court case against the SEC, the value of XRP will skyrocket!

It's like a bloodbath in the crypto world at the moment. For new investors I would say don't be too despondent, it will correct itself.

[Vindec]

These virtual currencies will come unstuck one day. The aim is to buy something for nothing in return just like the South Sea Bubble, various PONZI schemes and others which were all driven by greed. The price of Bitcoin has rocketed but profits are on paper. I've yet to know of anyone who has cashed in their paper profits as the whole thing is motivated by the uninitiated thinking their profits will increase. They might in the short term but eventually it will go wrong. If anyone has made money I would cash in as soon as possible.

I've lost money in the past speculating on so called investments by buying small stocks that were forecast to rise; they did sharply in the short term but fell even more sharply. I kept the best one which was forecast to rise but it managed to turn my £1000 investment into £12 but was still my best performer. I lost money but it was no more than I could afford to lose.

Throughout history people have been investing in the next big thing. Virtual currencies are the current trend. I wouldn't touch them with a bargepole. If history is a guide to the present the whole bitcoin thing will go seriously t-ts up.

[Rjk]

These virtual currencies will come unstuck one day. The aim is to buy something for nothing in return just like the South Sea Bubble, various PONZI schemes and others which were all driven by greed. The price of Bitcoin has rocketed but profits are on paper. I've yet to know of anyone who has cashed in their paper profits as the whole thing is motivated by the uninitiated thinking their profits will increase. They might in the short term but eventually it will go wrong. If anyone has made money I would cash in as soon as possible.

I've lost money in the past speculating on so called investments by buying small stocks that were forecast to rise; they did sharply in the short term but fell even more sharply. I kept the best one which was forecast to rise but it managed to turn my £1000 investment into £12 but was still my best performer. I lost money but it was no more than I could afford to lose.

Throughout history people have been investing in the next big thing. Virtual currencies are the current trend. I wouldn't touch them with a bargepole. If history is a guide to the present the whole bitcoin thing will go seriously t-ts up.

It does seem to have the classic hallmarks of a bubble.
Like 99% of people buying or holding any kind of cryptocurrency is because they think the value will go up. Nobody is using it for anything other than speculating, so there is no real floor to how low it could go.


Watch it go through the roof now I've said that

[Eric Cartman]

It does seem to have the classic hallmarks of a bubble.
Like 99% of people buying or holding any kind of cryptocurrency is because they think the value will go up. Nobody is using it for anything other than speculating, so there is no real floor to how low it could go.


Watch it go through the roof now I've said that

Second statement is correct but there are use cases.

This is about a slow steady shift in the way people see industries that, due to technological advancement, are rooted firmly in the past. For a potential use case of Blockchain and decentralisation, think of any situation where you are giving money to a middle man and flip it on its head. We used to have travel agents taking a wedge, now we have Airbnb taking a wedge but what does the next step look like? A classic example is finance, why do you need a stock broker? It's hard to picture a system governed by the people who use it because we currently relinquish that decision making power in most instances.

The main issue with bitcoin right now is it is a legacy project but determines the direction of the entire market. There are benefits to light regulation but one of the downsides is that big investors can manipulate it without legal repercussions, that is what is happening right now.

[Optimistic Nick]

These virtual currencies will come unstuck one day. The aim is to buy something for nothing in return just like the South Sea Bubble, various PONZI schemes and others which were all driven by greed. The price of Bitcoin has rocketed but profits are on paper. I've yet to know of anyone who has cashed in their paper profits as the whole thing is motivated by the uninitiated thinking their profits will increase. They might in the short term but eventually it will go wrong. If anyone has made money I would cash in as soon as possible.

I've lost money in the past speculating on so called investments by buying small stocks that were forecast to rise; they did sharply in the short term but fell even more sharply. I kept the best one which was forecast to rise but it managed to turn my £1000 investment into £12 but was still my best performer. I lost money but it was no more than I could afford to lose.

Throughout history people have been investing in the next big thing. Virtual currencies are the current trend. I wouldn't touch them with a bargepole. If history is a guide to the present the whole bitcoin thing will go seriously t-ts up.

The thing is, crypto is a really really good idea. I cannot get my head around the valuation, but I can buy into the concept of Blockchain because it's a genuinely neat solution to a real problem

[Rock_Flock_of_Five]

You're right. (In reply to Optimistic Nick)

For those that say that Bitcoin, in particular, is a Ponzi scheme, well.... 12 years is a helluva long time for a Ponzi to still be running.



Incidentally, I first bought XRP in 2017 (4 years after its first release in 2013).

[Rjk]

You're right. (In reply to Optimistic Nick)

For those that say that Bitcoin, in particular, is a Ponzi scheme, well.... 12 years is a helluva long time for a Ponzi to still be running.



Incidentally, I first bought XRP in 2017 (4 years after its first release in 2013).

I wouldn't exactly call it a Ponzi scheme, but it does seem to be entirely based on froth, which you have to question if it can sustain its value on that alone without having some underlying utility.

with a Ponzi scheme I guess it will be sustained for as long as they have new investors available

[lardy]

I wouldn't exactly call it a Ponzi scheme, but it does seem to be entirely based on froth, which you have to question if it can sustain its value on that alone without having some underlying utility.

with a Ponzi scheme I guess it will be sustained for as long as they have new investors available

That's the similarity with a Ponzi. When you buy, you need more people to want to buy it. Just as in a Ponzi you need investors underneath you in the pyramid.

Traditional stocks move on company profits, etc, external factors affect it. With crypto, it's only how many people want to buy it. So as soon as you've bought a coin, you need to encourage others to buy.

I'm not trying to be down on crypto, but its value is solely in how many potential buyers there are. At the moment anyway.

[Eric Cartman]

Anybody questioning use case, look up icp or dfinity on YouTube. It's not necessarily a great investment right now but it is a project looking to define the next iteration of the web. The scope of it is insane.

[jon1959]

Tulip bulbs are the future!

[Wash DC Blue]

I gave an example, the stock market, which is not a Ponzi scheme.

In the future, crypto probably won't be so much like a Ponzi as there will be other uses for it.

Are you familiar with Bernie Madoff?

[lardy]

Are you familiar with Bernie Madoff?

Yes, but he wasn't the entire stock market.

[Rock_Flock_of_Five]

No equipment required. You can usually commit your stake to the liquidity pool directly from your wallet. In the case of zilliqa, you can use zillet or moonlet.

such as?

Okay, off the top of my head and coins which I already own.... 'Theta' has been adopted by Sony and tackles the problem of bandwidth when streaming videos (buffering). It allows peer-to-peer sharing of bandwidth. Any smart TV can be integrated with Theta.

'XRP' has been adopted by a number of banks for the use of cross-border payments. Currently, the use of SWIFT or SEPA can take a number of working days to clear and can be costly (I recently paid 48 GBP to transfer money from the UK to China). XRP on the other hand can make such payments in seconds/minutes and costs pennies.
XRP (Ripple Labs) blows other payment methods such as Western Union and PayPal out of the water.