Bitcoin (cryptocurrency)

Scottyboi said:
Isn't Verge getting loads of grief over the deployment of something? Can't remember the name of it but apparently fails promises or something.
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Yep. The developers are are trying to release a Wraith. A programme that allows the transaction to be anonymous, like bitcoin. Problem is the said itll be released by end of dec 17. So the price shot up and that assumption and then dropped when it didnt happen. Ive still doubled my money even after the drop.

I also believe that most coins will make a profit over the next 6 months. Purely on the fact that its becoming mainstream. And the more people that jump on the bandwagon. The more youll make (except bitcoin. Id stay clear of that). A prime example is the rags and their 659m followers
 
bakerdave76 said:
How much are you people investing, £50,£100 250,?
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I invested £1400, I am currently sat at £2200 with ripple and stellar Lumens. Took everything off onto a ledger nano s for security.

I bought some RaiBlocks are people started panicking and selling so the price dropped.
 
route46 said:
Will be a trillion dollar market within 6 month.
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Lol, by what token.

Honestly, i'm sceptical about the value of bitcoin and many similar alternatives.

Things to understand with money or alternatives is that in value they depend a lot of the combination of trust/psychology and the underlying tradeable value/goods. Now bitcoin has a limited volume so the theory would go that value would go up depending on the amount of value that it covers in the market. In theory the rising value could be unlimited to the point where you could buy up the whole galaxy with bitcoin, but obviously nope thats just silly somewhere there is a logical ceiling. And that logical ceiling should be somewhere where bitcoin replaces conventional currency for trades for the goods that exist in the market. However i don't see the stellar rise is goods being traded trough bitcoin to justify that valuation but more on that later.

Otoh, it would also be easy to manipulate the value by that token by simply restricting it's use as a speculator. Just take a large volume "out of the market" and you have less bitcoin chasing the same amount of goods at which point value would go up. It would work similar with conventional currency, be it that when that volume is thrown back on the market a crash would logicly follow. This would be my main concern with bitcoin, would it be easy to convert a very large pile of it to the corresponding monetary value as it is now?

So, to give an impression of that: A lot of mumltinational company's sit in the range of the 100-200 billion value. We could be talking about company's like McDonalds, Disney or Intel for ex. And at this point afaik bitcoin has a market capitalisation of about a few 100's of billions. Considering that shareholders would typicly sell out to a bid that gives a multiple of the current value, company's like McDonalds, Disney and Intel should happily sell out to a bid of a few hundreds of billions of dollars. But would they sell their company's for the same premum value but in Bitcoin? My presumption is heck no!

The day that you can buy land, buildings, heavy machinery and other capital goods pretty much everywhere is the day at which bitcoin actually becomes worth it's nominal value perhaps, but i think were very far from that. My presumption is that the current spike in Bitcoin value is the work of speculation and at some point it wil likely crash down to a far more reasonable valuation. That is not to say that money can't be made, but it basicly boils down to gambling, and with that i wish all the gamblers here good luck. As a tip, sell when the profit is "high enough", don't remain in it till it starts to drop, because when these things will drop they likely will drop deep.
 
FlemishDuck said:
Lol, by what token.

Honestly, i'm sceptical about the value of bitcoin and many similar alternatives.

Things to understand with money or alternatives is that in value they depend a lot of the combination of trust/psychology and the underlying tradeable value/goods. Now bitcoin has a limited volume so the theory would go that value would go up depending on the amount of value that it covers in the market. In theory the rising value could be unlimited to the point where you could buy up the whole galaxy with bitcoin, but obviously nope thats just silly somewhere there is a logical ceiling. And that logical ceiling should be somewhere where bitcoin replaces conventional currency for trades for the goods that exist in the market. However i don't see the stellar rise is goods being traded trough bitcoin to justify that valuation but more on that later.

Otoh, it would also be easy to manipulate the value by that token by simply restricting it's use as a speculator. Just take a large volume "out of the market" and you have less bitcoin chasing the same amount of goods at which point value would go up. It would work similar with conventional currency, be it that when that volume is thrown back on the market a crash would logicly follow. This would be my main concern with bitcoin, would it be easy to convert a very large pile of it to the corresponding monetary value as it is now?

So, to give an impression of that: A lot of mumltinational company's sit in the range of the 100-200 billion value. We could be talking about company's like McDonalds, Disney or Intel for ex. And at this point afaik bitcoin has a market capitalisation of about a few 100's of billions. Considering that shareholders would typicly sell out to a bid that gives a multiple of the current value, company's like McDonalds, Disney and Intel should happily sell out to a bid of a few hundreds of billions of dollars. But would they sell their company's for the same premum value but in Bitcoin? My presumption is heck no!

The day that you can buy land, buildings, heavy machinery and other capital goods pretty much everywhere is the day at which bitcoin actually becomes worth it's nominal value perhaps, but i think were very far from that. My presumption is that the current spike in Bitcoin value is the work of speculation and at some point it wil likely crash down to a far more reasonable valuation. That is not to say that money can't be made, but it basicly boils down to gambling, and with that i wish all the gamblers here good luck. As a tip, sell when the profit is "high enough", don't remain in it till it starts to drop, because when these things will drop they likely will drop deep.
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Right now the crypto currency market is worth about 700m. This is not without reason. There is some brilliant technology behind them. Bitcoin may not be number 1 in the future but another coin will take its place. The Blockchain has incredible potential.

Crypto is here to stay. Banks are not good enough and haven’t really progressed in recent years. Banks along with Visa/MasterCard need some competition. These monopolies need challenging and crypto currencies will provide it.

There are currently many issues with them and they are not so practical but once these things are taken care of the sky is the limit. 2018 will be a big year.
 


60 minutes, take it with a grain of salt but interesting watch none the less, some good points are brought up.
 
Easy said:
There is some brilliant technology behind them. Bitcoin may not be number 1 in the future but another coin will take its place. The Blockchain has incredible potential.
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I do not have any issue with the principle behind it or the technoligy, thats not the issue.

Right now the crypto currency market is worth about 700m. This is not without reason.
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Well here's my issue: why exactly that valuation, pls explain. I'm not going to say it's worthless, but 700 million is just a number afcourse just as 10 million, 200 million or 3.5 billion would be. So why exactly 700 million? Why not 100 million or 5 billion? How can we decide wether it's undervalued or overvalued?
 
I think the poster meant $700bn. It IS undervalued. Won't go in too much detail however think of what blockchain technology is aiming to replace. If the value of the technology that will be replaced by Block chain is more than $700bn, then the value of block chain is more than $700bn. Simple really. One example, Think of what Ripple is aiming to replace is SWIFT, think of what SWIFT is worth currently. Then decide what Ripple is worth. Hope that helps.
 
goldcoastblue said:
Yep. The developers are are trying to release a Wraith. A programme that allows the transaction to be anonymous, like bitcoin. Problem is the said itll be released by end of dec 17. So the price shot up and that assumption and then dropped when it didnt happen. Ive still doubled my money even after the drop.

I also believe that most coins will make a profit over the next 6 months. Purely on the fact that its becoming mainstream. And the more people that jump on the bandwagon. The more youll make (except bitcoin. Id stay clear of that). A prime example is the rags and their 659m followers
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That is the one wraith! Bitcoin is outdated but I still think it is the equivalent to online gold, it has no use however due to its limited supply its value is immense.

I do wonder one day though if Satoshis bitcoins will ever move, if they do the whole market will crash.
 
arbabarshad said:
I think the poster meant $700bn. It IS undervalued. Won't go in too much detail however think of what blockchain technology is aiming to replace. If the value of the technology that will be replaced by Block chain is more than $700bn, then the value of block chain is more than $700bn. Simple really. One example, Think of what Ripple is aiming to replace is SWIFT, think of what SWIFT is worth currently. Then decide what Ripple is worth. Hope that helps.
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Yea meant 700bn sorry. In a few years we'll be speaking about trillions!!
 
There is an ICO I wouldn't mind putting a referral link up for on here if I was allowed.

You literally don't commit any money just sign up and you get a share of coins. When it goes on sale soon I am going to commit about £100 to it and leave it a year like Electroneum.
 
arbabarshad said:
Just some bits of research info. Nothing concrete.
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Have a look at the Refereum mate, if you like it click on my link. 300 points gets you a share of coins, so sign up is 50 points, connecting your twitch account is 200 points and then just use discord for 2 days and you get a guaranteed share.
 
arbabarshad said:
I think the poster meant $700bn. It IS undervalued. Won't go in too much detail however think of what blockchain technology is aiming to replace. If the value of the technology that will be replaced by Block chain is more than $700bn, then the value of block chain is more than $700bn. Simple really. One example, Think of what Ripple is aiming to replace is SWIFT, think of what SWIFT is worth currently. Then decide what Ripple is worth. Hope that helps.
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Sorry but that deffinatly does not help to get a good reflection of value.
 
FlemishDuck said:
Sorry but that deffinatly does not help to get a good reflection of value.
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Don't mean got offend in any way but there are ways of valuing assets, my example is one of the easiest ways. Since it didn't help, I'll let someone else to explain it differently.
 
Swift is a company that handles up to $15 trillion per day in transactions (depends on source). You may have used swift codes to move money overseas.
The issue is the speed it takes to get your money. It can take days. This is because banks need nostro accounts that hold shit load of money all over the world to pay for these transactions. What ripple does it it processes 1500 transactions per second and immediatley settles up anywhere in the world.
So rather than the banks having to wait to be paid, they are paid instantly which means they can move that money about immediately to.
This saves cost considerably. By using ripples blockchain they can save 30% on their cost. By using the blockchain and the coin the saving is 60%. So if you think about all the money that transferred every day accross the world saving that much money. How much do u think it should be valued at just for that 1 coin. Personally. I see it at $125 per coin by end of the year.
 
goldcoastblue said:
Swift is a company that handles up to $15 trillion per day in transactions (depends on source). You may have used swift codes to move money overseas.
The issue is the speed it takes to get your money. It can take days. This is because banks need nostro accounts that hold shit load of money all over the world to pay for these transactions. What ripple does it it processes 1500 transactions per second and immediatley settles up anywhere in the world.
So rather than the banks having to wait to be paid, they are paid instantly which means they can move that money about immediately to.
This saves cost considerably. By using ripples blockchain they can save 30% on their cost. By using the blockchain and the coin the saving is 60%. So if you think about all the money that transferred every day accross the world saving that much money. How much do u think it should be valued at just for that 1 coin. Personally. I see it at $125 per coin by end of the year.
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Hope you're right mate. I know next to fuck all about all this but we've had a tip today at work re Ripple and I've invested around £750
 
Interesting this thread, as somebody familiar with the technology and its limitations.

Reminds me of the horse racing thread.
 
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