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The future of Crypto
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togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Jan 31 2019 at 15:18
The problem with BTC vs. fiat price drops is not the investors losing money.
Good trader makes money shorting the asset as well.
The real issue lies with miners.
The level where BTC mining brings profit is around $6,000.
If the price stands below that level for long time, a lot of miners will be OOB.
The exception: Chinese mining companies are still profitable around $1500-$2000.
So problem solved?
No. The problem is blockchain is independent only when none is able to control more than 50% of miners.
And that could happen in China.

Your thoughts?

Molly141

Member Since Jan 22, 2019  25 posts Molly141 Feb 01 2019 at 09:59
Does Crypto have a future?

HyperAI

Member Since Jan 31, 2019  16 posts Marcus (HyperAI) Feb 01 2019 at 11:49
Molly141 posted:
Does Crypto have a future?
yellyellyell

The AI is the future.
togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Feb 01 2019 at 11:53
Sure it does. Even on decreasing price you can make profit by shorting it

niceGLer

Member Since Dec 28, 2013  157 posts niceGLer Feb 01 2019 at 13:45
togr posted:
Sure it does. Even on decreasing price you can make profit by shorting it

It is like in Weimarer Republik tackling with hyperinflation. If you have money, buy anything you can. It's a bit late thought..

togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Feb 01 2019 at 13:51
A lot of guys consider crypto as simply spending fiat to buy BTC.
World of crypto is much more diverse. If you want to hodl why not buy XRP which is going to be used by international banks to settle transactions.

niceGLer

Member Since Dec 28, 2013  157 posts niceGLer Feb 01 2019 at 17:51
togr posted:
A lot of guys consider crypto as simply spending fiat to buy BTC.
World of crypto is much more diverse. If you want to hodl why not buy XRP which is going to be used by international banks to settle transactions.


This is interesting: Where did you get this info? Could you cite us the source?

Jdimitrov

Member Since Feb 01, 2019  10 posts Jdimitrov Feb 03 2019 at 07:25
togr posted:
The problem with BTC vs. fiat price drops is not the investors losing money.
Good trader makes money shorting the asset as well.
The real issue lies with miners.
The level where BTC mining brings profit is around $6,000.
If the price stands below that level for long time, a lot of miners will be OOB.
The exception: Chinese mining companies are still profitable around $1500-$2000.
So problem solved?
No. The problem is blockchain is independent only when none is able to control more than 50% of miners.
And that could happen in China.

Your thoughts?




That is a very interesting comment about the discrepancy in mining costs leading to control of BTC. But even is Chinese miners held 50% they would not necessarily be all working together. If they did then it would need to be kept secret otherwise the interest in BTC would collapse. So achieving control would be extremely difficult in practice

wilhelmus

Member Since Jan 31, 2019  2 posts wil (wilhelmus) Feb 03 2019 at 08:07
just an image ,


 

Attachments:

AniLorak

Member Since Apr 18, 2017  864 posts AniLorak Feb 03 2019 at 08:15
Molly141 posted:
Does Crypto have a future?


Of course, it has! But will take time to make the ground. This is why, long term view is very much important.

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