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.
 
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