Bitcoin (cryptocurrency)

Gelsons Dad said:
And since I posted last everyone has noticed and is getting in on the act. Expect it to pop around 4 this afternoon.
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I doubt it'll go that high today but it does seem to be recovering. As for the short-term/long-term thing, I can see both sides. If you buy in during one of the big dips then decent money can be made in the short-term but there has been exponential growth in cryptos over the long-term too. I do think XRP (Ripple) has a bright future ahead but who knows for sure in the crazy world of crypto.
 
journolud said:
Seems like a sustained slump or the cryptos, more so than the previous sharp falls followed by big spikes. Whats the thinking from the fans, i guess a lot of people are currently sitting on substantial losses.

I'm a small player, took £500 out from my initial "investment" of £400 on bitcoin and have seen what was just under £400 that i ;left in now fall to £272. Still up on the deal and no rush to sell but I'm not expecting an upturn any time soon. Would still be tempted by ripple if it hadn't taken so long for my account with bitstamp to be verified.
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I've seen graphs knocking about showing that cryptos have nosedived every January for the past 4 years before rising again so it might just be a case of following that same pattern (I hope)
 
M18CTID said:
I doubt it'll go that high today but it does seem to be recovering. As for the short-term/long-term thing, I can see both sides. If you buy in during one of the big dips then decent money can be made in the short-term but there has been exponential growth in cryptos over the long-term too. I do think XRP (Ripple) has a bright future ahead but who knows for sure in the crazy world of crypto.
Click to expand...
I meant 4 pm :-)
 
How can cryptocurrency's become more acceptable for puchases with the current volatilety? Sellers are on small margins and have to sell at the advertised price. It looks like the speculators themselfs might kill the future of many of these crypto's.
 
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The Cryptocrank Index

A simple method for rating potentially revolutionary contributions to cryptocurrency.

Based on John Baez’s excellent Crackpot Index for physics.


  1. A -10 point starting handicap, because cryptocurrencies are new and confusing.

  2. 1 point for every statement that is widely agreed to be false.

  3. 2 points for every statement that is clearly vacuous.

  4. 3 points for every statement that is logically inconsistent.

  5. 5 points for each such statement that is adhered to despite careful correction.

  6. 5 points for each word in all capital letters which is not an acronym.

  7. 5 points for each mention of "Nakomoto," "Finey," or "Butterin."

  8. 5 points for each inclusion of “the unbanked,” “AI,” “IOT,” or “quantum-resistant.”

  9. 10 points for labeling any criticism as “spreading FUD.”

  10. 10 points for each claim that Proof-of-X is fundamentally misguided (without good evidence).

  11. 10 points for pointing out that you have a PhD, as if this were evidence of intelligence.

  12. 10 points for giving tax advice over Twitter.

  13. 10 points for beginning your whitepaper by bragging about how many other ICOs the team has done (10 more for bragging about how many the team’s advisors have done).

  14. 10 points for each new term you invent and use without properly defining it.

  15. 10 points for lauding your fervent adherence to Austrian economics in your whitepaper.

  16. 10 points for each statement along the lines of, "I'm not good at cryptography, but my theory is conceptually right, so all I need is for someone to write the code."

  17. 10 points for arguing that a blockchain is "open," as if this were somehow a point against it.

  18. 10 points for every retweet of your project by @officialmcafee.

  19. 10 points for each favorable comparison of yourself to Satoshi.

  20. 10 points for claiming that your work is on the cutting-edge of a "paradigm shift."

  21. 10 points for treating Bitcoin as if it were “old.”

  22. 10 points for bragging about who you know, not what you’ve done.

  23. 20 points for serving your project’s website without HTTPS or having an invalid or expired SSL certificate.

  24. 20 points for complaining about the cryptocrank index. (E.g., saying that it "suppresses original thinkers" or saying that I misspelled "Nakamoto" in item 8.)

  25. 20 points for pointing out that you have a Nobel Prize in Economics, as if this were evidence of relevant experience.

  26. 20 points for emailing your whitepaper to someone you don't know personally and asking them to tell everyone else to invest in it.

  27. 20 points for reacting to flaws/bugs in your code with vitriol on Twitter instead of patches.

  28. 20 points for suggesting that @VitalikButerin is your project’s advisor when all he did was take a selfie with you.

  29. 20 points for every use of cyberpunk concepts or words as if they were real.

  30. 20 points for naming something after yourself. (E.g., talking about the "Robinson Consensus" when your name happens to be Robinson.)

  31. 20 points for talking about how great your blockchain is, but never actually explaining it.

  32. 20 points for each use of the word "lambo."

  33. 30 points if you have a token but cannot explain its purpose.

  34. 30 points for having a whitepaper, website, Twitter, Telegram, etc. and no GitHub account.

  35. 30 points for using the word “distributed” to describe your AWS-hosted web application.

  36. 30 points for pointing out that you are rich, as if this were evidence of your worth.

  37. 30 points for suggesting that Satoshi, in his final emails, was groping his way towards the ideas you now advocate.

  38. 30 points for claiming that your blockchain was developed by the NSA (without good evidence).

  39. 30 points if you have an ICO just so you can hire an engineer to build your blockchain.

  40. 30 points for allusions to a delay in your work while you spent time on your ICO.

  41. 40 points for hiring booth babes at conventions.

  42. 40 points for calling those who argue against your ideas Nazis or shills.

  43. 40 points for claiming that the "blockchain establishment" is engaged in a "conspiracy" to prevent your project from gaining its well-deserved fame, or suchlike.

  44. 40 points for claiming that when your token is finally released, present-day blockchains will be seen for the shams they truly are. (30 more points for fantasizing about blog posts in which investors who mocked your whitepaper will be forced to recant.)

  45. 50 points for claiming you have a revolutionary blockchain but writing no code.
 
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