lapal_fan Posted January 22, 2018 Share Posted January 22, 2018 10 minutes ago, Dr_Pangloss said: This is true. Although for crypto-currencies to ever be taken seriously they will have to stabilise and correct downward, you simply can't have a currency that is so damn volatile, it will never work. Incidentally I'm seeing that the bitcoin panic has precipitated a run on gold, a sign of investors looking for safety. My investment in gold at the back end of 2015 is looking pretty good right now! I think the 1st part is where I stand on it. I've not looked into this, but from a layman's perspective, we already have money. We can already spend/earn that money without having to handle it, so what is the point in virtual money? Effectively, unless you have cash, it's all virtual. People need to see things for it to be valuable, investing in it just seems non-logical to me. Whether we can start paying for Amazon items with Bitcoin or not, I can do that already without having to have virtual purses with codes as long as my arm for safety. Which is why I've stayed clear, although in December I was tempted to invest £500, just to see. But it's looking like a good decision at the moment. Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 Just now, Dr_Pangloss said: Quite simply because it's 'value' is so volatile. Macroeconomics 101 speaking money is a store of wealth, a medium of exchange and a unit of account, it's volatility means it is a bad store of wealth and a unit of account. I think it's a good store of value long term. But a currency in it's current state, absolutely not. However when Lightening Network comes in, could be a game changer. I like the volatility, makes the whole thing even more fun. Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 22, 2018 Share Posted January 22, 2018 1 minute ago, PieFacE said: I think it's a good store of value long term. But a currency in it's current state, absolutely not. However when Lightening Network comes in, could be a game changer. I like the volatility, makes the whole thing even more fun. Fine from an investors view, that's your bet. But it really isn't a 'currency', just just something to speculate on, that cannot be an effective currency. Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 (edited) 4 minutes ago, lapal_fan said: I think the 1st part is where I stand on it. I've not looked into this, but from a layman's perspective, we already have money. We can already spend/earn that money without having to handle it, so what is the point in virtual money? Effectively, unless you have cash, it's all virtual. People need to see things for it to be valuable, investing in it just seems non-logical to me. Whether we can start paying for Amazon items with Bitcoin or not, I can do that already without having to have virtual purses with codes as long as my arm for safety. Which is why I've stayed clear, although in December I was tempted to invest £500, just to see. But it's looking like a good decision at the moment. The appealing aspect of it all is the decentralised nature. No one cares for buying things on Amazon with it really, people like to have money that THEY own, not banks or governments. Ask someone in Zimbabwe if they value Bitcoin or their local super inflated currency higher. Bitcoin has value because it's backed by maths, rather than a government. Edited January 22, 2018 by PieFacE 1 Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 6 minutes ago, lapal_fan said: I think the 1st part is where I stand on it. I've not looked into this, but from a layman's perspective, we already have money. We can already spend/earn that money without having to handle it, so what is the point in virtual money? Effectively, unless you have cash, it's all virtual. People need to see things for it to be valuable, investing in it just seems non-logical to me. Whether we can start paying for Amazon items with Bitcoin or not, I can do that already without having to have virtual purses with codes as long as my arm for safety. Which is why I've stayed clear, although in December I was tempted to invest £500, just to see. But it's looking like a good decision at the moment. If you're bored and really interested in why decentralisation is a good thing, this video is good. 1 Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 22, 2018 Share Posted January 22, 2018 7 minutes ago, PieFacE said: The appealing aspect of it all is the decentralised nature. No one cares for buying things on Amazon with it really, people like to have money that THEY own, not banks or governments. Ask someone in Zimbabwe if they value Bitcoin or their local super inflated currency higher. Bitcoin has value because it's backed by maths, rather than a government. This strikes me as borderline fanaticism. Firstly, the money supply is governed mathematically (e.g. the exchange equation) and generally fairly sound economic rationale outside of basket case countries, citing Zimbabwe is just a fallacious application of reductio ad absurdum. You also undermine your own case for it being a currency when you say that no one cares for buying things on Amazon with it, rather it's just something to own. Hate to break it to you but this is not money, rather just a speculative asset. That's fine for what it is, as long as you're not over your head in it, but I guess I take issue with the preaching of the hardcore bitcoin enthusiasts. 1 Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 (edited) 9 minutes ago, Dr_Pangloss said: This strikes me as borderline fanaticism. Firstly, the money supply is governed mathematically (e.g. the exchange equation) and generally fairly sound economic rationale outside of basket case countries, citing Zimbabwe is just a fallacious application of reductio ad absurdum. You also undermine your own case for it being a currency when you say that no one cares for buying things on Amazon with it, rather it's just something to own. Hate to break it to you but this is not money, rather just a speculative asset. That's fine for what it is, as long as you're not over your head in it, but I guess I take issue with the preaching of the hardcore bitcoin enthusiasts. If you say so. Bitcoin in it's current state isn't ready to be a currency, transaction speeds are too slow, transaction costs are too high. Lightening Network will change all of that when it's released. Rootstock will give it added Smart Contract functionality. Maybe then it can start to be used as a currency in the e-commerce world, but in it's current form it cannot be. You sound quite salty to be honest "You also undermine your own case for it being a currency" PS - if you read my previous comments I actually said I don't think it is a currency. Edited January 22, 2018 by PieFacE Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 22, 2018 Share Posted January 22, 2018 (edited) 5 minutes ago, PieFacE said: If you say so. Bitcoin in it's current state isn't ready to be a currency, transaction speeds are too slow, transaction costs are too high. Lightening Network will change all of that when it's released. Rootstock will give it added Smart Contract functionality. Maybe then it can start to be used as a currency in the e-commerce world, but in it's current form it cannot be. You sound quite salty to be honest "You also undermine your own case for it being a currency" PS - if you read my previous comments I actually said I don't think it is a currency. Ok, you're not exactly consistent on this, just saying Also, definitely not salty, it's just your arguments don't add up. Edited January 22, 2018 by Dr_Pangloss Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 2 minutes ago, Dr_Pangloss said: Ok, you're not exactly consistent on this, just saying I think i've said it in this thread about 4 times today alone But whatever, my opinion is forever evolving in this space Link to comment Share on other sites More sharing options...
omariqy Posted January 23, 2018 Share Posted January 23, 2018 TRST seems to be doing well lately. Flixx has even gone up! Link to comment Share on other sites More sharing options...
zak Posted January 23, 2018 Share Posted January 23, 2018 So while prices have been unsteady, iv been sorting out my holdings : Ether Bitcoin Ripple INS Ark Powerledger VeChain Flixx Bitcoin Cash Neo and i got into the Farmatrust Pre-sale, so hoping that does well. Ton and Polymath, still the ones to look out for i think Out of my coins i like INS value the best Link to comment Share on other sites More sharing options...
KAZZAM Posted January 24, 2018 Share Posted January 24, 2018 Some of the Ico's i google just sound so generic and are always some kind of 'currency' im sure most of them are just a scam to raise money from the presale. Link to comment Share on other sites More sharing options...
HanoiVillan Posted January 24, 2018 Share Posted January 24, 2018 On 1/22/2018 at 14:51, PieFacE said: Bitcoin in it's current state isn't ready to be a currency, transaction speeds are too slow, transaction costs are too high. This seems like the most masterful understatement ever posted on this site. 1 Link to comment Share on other sites More sharing options...
omariqy Posted January 25, 2018 Share Posted January 25, 2018 Eagerly awaiting the release of Wanchain. Looks a great project and I think it will do really well. 1 Link to comment Share on other sites More sharing options...
PieFacE Posted January 26, 2018 Author VT Supporter Share Posted January 26, 2018 https://www.bloomberg.com/news/videos/2018-01-25/why-banks-don-t-want-ripple-s-80-bln-of-digital-money-video?cmpId=flipboard Quote Ripple owns a lot of a digital token called XRP. The problem is banks say they have no interest in using XRP. Bloomberg's Matthew Leising has more on "What'd You Miss?" (Source: Bloomberg) Good video in the link for anyone who thinks banks are going to use XRP. Also rumours today that 3billion Ripple, 600million NEM and 14 million Lisk have been hacked from a Japanese exchange. Will be pretty disastrous if true. 1 Link to comment Share on other sites More sharing options...
omariqy Posted January 29, 2018 Share Posted January 29, 2018 Flixx is so up and down at the moment. Still hoping for that breakthrough. Link to comment Share on other sites More sharing options...
BOF Posted January 29, 2018 Moderator Share Posted January 29, 2018 Hoping no-one bought Prodeum. 1 Link to comment Share on other sites More sharing options...
lapal_fan Posted January 29, 2018 Share Posted January 29, 2018 and so it begins.. Link to comment Share on other sites More sharing options...
PieFacE Posted January 29, 2018 Author VT Supporter Share Posted January 29, 2018 Decided to go quite big into the Persona ico. Got nearly 300k coins. Hoping it goes to £3-5 by the end of the 2019, by which point I should have about 600k coins due to their DPOS model. Pretty much nailed on that they will partner with the Coss exchange, hopefully others will follow too. Members of the ark team created it and advisors for the project. High hopes. Link to comment Share on other sites More sharing options...
Stevo985 Posted January 29, 2018 VT Supporter Share Posted January 29, 2018 3 minutes ago, PieFacE said: Decided to go quite big into the Persona ico. Got nearly 300k coins. Hoping it goes to £3-5 by the end of the 2019, by which point I should have about 600k coins due to their DPOS model. Pretty much nailed on that they will partner with the Coss exchange, hopefully others will follow too. Members of the ark team created it and advisors for the project. High hopes. Um, wouldn’t that make you a millionaire? 1 Link to comment Share on other sites More sharing options...
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