• General

  • Crypto Currency - Believers Only

Hursty blockchain tech makes perfect sense, but how is bitcoin a store of value if it fluctuates 90% down and back again every two years? i understand the scarcity argument and i’m really just playing devil’s advocate here, but it’s too easy to manipulate as elon has demonstrated. if one person can move the price this easily, what happens when (i know it’s already happening) institutions decide to move the price at will?

      Smallman1 exactly. i understand it at a basic level after a ton of reading. the average person on the street is never going to come to terms with things like cold storage and irreversible, slow, expensive transactions.

        Until I can pay for my Greek yoghurt and strawberries in Waitrose with it, I won’t believe it’s going / gone mainstream.

        303abuser All valid questions I cannot fully answer, all I’m saying is the latest 3rd gen cryptos are being designed for the future in sustainable and ethical ways which are not reliant on power consumption but consensus protocols.
        The key players are hiring top financial directors as their CFOs with the aim of integrating and regulating the use of blockchain technology for financial use.
        This year is the perfect to get involved, just a tiny bit of investment and research is massively
        beneficial in many ways.

        You don’t need to understand it Ed, at the end of the day a currency has value and if a vendor accepts it that’s all you need to care about.

        The Tesla news story is now right up there in mainstream media.

            Hursty well we’re obviously going to find out, but i’m not sold on crypto as a store of value. blockchain tech seems to have great applications, which is why i was holding etherium, i just don’t think the rest of this is anything but big money taking advantage of an easy to manipulate market.

            Hursty You don’t need to understand it Ed, at the end of the day a currency has value and if a vendor accepts it that’s all you need to care about.

            this is the part i don’t agree with. if you don’t understand very clearly how it works, you cannot use crypto safely. how many stories have there already been about hard drives being lost and keys forgotten? that’s with early adopters and people who are more tech savvy than average.

                Blockchain definitely has a future, but not as day to day currency in its current form for all the reasons already mentioned. It can, however, be the basis for world markets especially after the car crash that has been recent weeks trading and the decades old use for clearance houses.

                Money I’ll lose the password for next time I lose my wallet when pissed?

                No ta.

                Hursty You don’t need to understand it Ed, at the end of the day a currency has value and if a vendor accepts it that’s all you need to care about.

                Will it replace or even run parallel to the GREAT British pound?

                Me thinks not!

                    Smallman1 Will it replace or even run parallel to the GREAT British pound?

                    Me thinks not!

                    We should start a campaign to get OLB to replace Jane Austen on the reverse of the £10 note:

                    “I declare after all that there is no enjoyment like BANTING!”

                      Reading is fucking daft anyway, when you think about it.

                      You sit there looking at thin strips of tree marked with ink, and hallucinate. How weird is that?

                        We will see, we will see.

                        This is precisely why it is a load of complete bollocks, Amps.
                        Is there any need for it?

                          Old-Dutch Crypto is here for the future, the 3rd gen cryptos are using Proof of Stake algorithms.

                          So short sighted some of the views on crypto, people will gladly invest in pharma, oil, multinationals which cripple the world then turn their nose up something they don’t understand.

                              Can’t stress enough, do some research and start investing now, you wIll not regret it, I can guarantee.

                              Look into Cardano and Radix.

                                Hursty people will gladly invest in pharma, oil, multinationals which cripple the world then turn their nose up something they don’t understand

                                It’s not really a fair equivalence because they all produce items of value that are sold and you can read a company’s accounts or industry report to determine your investment decisions.

                                People who are used to doing that don’t even know where to start with cryptocurrencies.

                                  Also, suggest you read about the environmental effects of bitcoin mining.

                                  I can’t understand why the need for wasting so much energy to ‘mine’ for bitcoin. It’s a fucking ludicrous concept not to mention the damage it is doing to the planet in terms of wasting energy. A load of old bollocks