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The future of Crypto
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Molly141

Member Since Jan 22, 2019  25 posts Molly141 Feb 04 2019 at 07:49
Sorry for what was possibly a dumb question, I only know what I have seen banded about facebook/

togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Feb 04 2019 at 09:39
niceGLer posted:
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?

https://ethereumworldnews.com/top-ten-u-s-bank-pnc-to-use-ripple-for-international-payments/

togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Feb 04 2019 at 09:41
Jdimitrov posted:
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


Well yes it is not sure that this will happen. But China is centrally planned and controlled economy. In such country the risk of global control of BTC blockchain is immense.

togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Feb 04 2019 at 09:41
Molly141 posted:
Sorry for what was possibly a dumb question, I only know what I have seen banded about facebook/


What's the thing on Facebook?

Molly141

Member Since Jan 22, 2019  25 posts Molly141 Feb 04 2019 at 12:37
I mean eveyrbody going on about how it was guaranteed money, then it crcashed.

togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Feb 04 2019 at 12:46
Molly141 posted:
I mean eveyrbody going on about how it was guaranteed money, then it crcashed.


Well crypto is volatile there is no guarantee you will profit from hodling, but you could have make a lot of money shorting it.

There is no asset with the price always growing.

niceGLer

Member Since Dec 28, 2013  157 posts niceGLer Feb 04 2019 at 16:07
togr posted:
Molly141 posted:
I mean eveyrbody going on about how it was guaranteed money, then it crcashed.


Well crypto is volatile there is no guarantee you will profit from hodling, but you could have make a lot of money shorting it.

There is no asset with the price always growing.


Initially bitcoin was marketed generally as a non-inflationary currency. It was told that it is deflationary, and because one can't increase the amount of bitcoins its value is going to increase. What has happened to cryptocurrencies is actually lot worse. Although, when I saw the graph of BTCUSD I saw classical signs before market crash: that is exponentially rising value.
With a classical inflationary currency one usually has a lot of time to react in normal inflationary conditions.

Most of the people would have been satisfied with bitcoin maintaining its value.

I suspect that cryptocurrencies in general have lost their credibility for a long time. Besides, there are tens of alternatives for investing on cryptos. Who can say this is the right one?

Treeny

Member Since Feb 08, 2019  134 posts Treeny Mar 11 2019 at 07:27
Thousands of alternatives these days

AniLorak

Member Since Apr 18, 2017  864 posts AniLorak Mar 12 2019 at 07:26
Treeny posted:
Thousands of alternatives these days


Yes it is; but end of the day it’s a good sign in trading industry! I am really excited to see the movements of crypto market.

togr

Member Since Feb 22, 2011  4800 posts vontogr (togr) Mar 12 2019 at 07:34
niceGLer posted:
togr posted:
Molly141 posted:
I mean eveyrbody going on about how it was guaranteed money, then it crcashed.


Well crypto is volatile there is no guarantee you will profit from hodling, but you could have make a lot of money shorting it.

There is no asset with the price always growing.


Initially bitcoin was marketed generally as a non-inflationary currency. It was told that it is deflationary, and because one can't increase the amount of bitcoins its value is going to increase. What has happened to cryptocurrencies is actually lot worse. Although, when I saw the graph of BTCUSD I saw classical signs before market crash: that is exponentially rising value.
With a classical inflationary currency one usually has a lot of time to react in normal inflationary conditions.

Most of the people would have been satisfied with bitcoin maintaining its value.

I suspect that cryptocurrencies in general have lost their credibility for a long time. Besides, there are tens of alternatives for investing on cryptos. Who can say this is the right one?


But that
Initially bitcoin was marketed generally as a non-inflationary currency. It was told that it is deflationary, and because one can't increase the amount of bitcoins its value is going to increase.
 is right. You need to look at BTC price from long term perspective.
It has grown from zero value to 20k value very fast.

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