Bitcoin (cryptocurrency)

[FlemishDuck]

Crypto is here to stay - which particular technologies are successful will be decided by time.

But that sentiment on itself has few relevance to actual valuation from an investor p.o.v. , is crypty going to stay at a market capitalization of several hundreds of billions is the true question imho. What is there to say for the scenarion where the whole crypto market cap falls back to a valuation of only several dozens of million $ ? Crypto could be there to stay at that significantly lower valuation too, perhaps for a very long time. In absolute numbers though that might render the average crypto's portfollio to potentially 1/10.000 th of it's original wealth. That would be "practicly worthless" looking at it from todays valuation even if cryptos might eventually mature a decade down the line. So where do we place the limits of absolute vollatilety with crypto's currently?

 

[hightimes]

@hightimes Electroneum going to go live on Kucoin next week, price already up 6.8% in the last hour. I plan on buying more next week ready for the mobile mining launch.

Thanks for the heads up.

I bought 3 dogecoin variants last week, because I know some of them were going to skyrocket.

Unfortunately, the one I didn’t buy went up 6000%.

 

[arbabarshad]

But that sentiment on itself has few relevance to actual valuation from an investor p.o.v. , is crypty going to stay at a market capitalization of several hundreds of billions is the true question imho. What is there to say for the scenarion where the whole crypto market cap falls back to a valuation of only several dozens of million $ ? Crypto could be there to stay at that significantly lower valuation too, perhaps for a very long time. In absolute numbers though that might render the average crypto's portfollio to potentially 1/10.000 th of it's original wealth. That would be "practicly worthless" looking at it from todays valuation even if cryptos might eventually mature a decade down the line. So where do we place the limits of absolute vollatilety with crypto's currently?

Crypto Market Cap will be dozens of times more than what it is now - it will be more than trillion dollars before the year is out.

 

[Dicko69]

What I don't get is no one seems to be using crypto for it's intended purpose of buying things with it. just buying and selling crypto to try and make money. surely the values fluctuate too much to be used as actual currency? I imagine being a retailer of any size and selling your stock for crypto and there is a huge downturn in it's value would/could bankrupt a company.
Imagine selling your house for £500k in equivalent crypto only to have £100k worth of crypto the very next day. surely for it to work as it's intended use it would have to have a consistent ish value

 

[hightimes]

What I don't get is no one seems to be using crypto for it's intended purpose of buying things with it.

lol, how did you conclude that?
many people are buying stuff with cryptos, it’s unbelievable
Each day more and more people are buying with cryptos.
For some other things, like houses, medical bills...the government needs to regulate

 

[Dicko69]

lol, how did you conclude that?
many people are buying stuff with cryptos, it’s unbelievable
Each day more and more people are buying with cryptos.
For some other things, like houses, medical bills...the government needs to regulate

What have you bought with them? apart from other coins. I'm not being arsey, just curious. I just think with the amount the values seem to drop and rise you could find yourself overpaying for stuff(I know, maybe underpaying too)

 

[hightimes]

What have you bought with them? apart from other coins. I'm not being arsey, just curious. I just think with the amount the values seem to drop and rise you could find yourself overpaying for stuff(I know, maybe underpaying too)

Only electronics. I’m not buying shit online that I don’t trust.
My wife buys clothing...

But you can buy beer, medicines, chemotherapeutics, food,prostitutes with cryptos.
There is almost no limits.

If you’ll see the vendors if they only deal with a limited type of cryptos...

Just try to stay away from the .onion vendors!!!

 

[Armaan]

What I don't get is no one seems to be using crypto for it's intended purpose of buying things with it. just buying and selling crypto to try and make money. surely the values fluctuate too much to be used as actual currency? I imagine being a retailer of any size and selling your stock for crypto and there is a huge downturn in it's value would/could bankrupt a company.
Imagine selling your house for £500k in equivalent crypto only to have £100k worth of crypto the very next day. surely for it to work as it's intended use it would have to have a consistent ish value

Very good point.

 

[JASR]

Apologies if already mentioned:

Iceland, is running out of electricity, despite having vast quantities of ‘free’ hydrothermal available.
The reason?

Cyptocurrency mining is using more electricity than other thing in the country. The data centres there (for cheap electricity) are running at very high capacity.

Something a bit wrong.

Iirc the bbc website earlier this week had this news, or it could have been on theregister , tired, sorry.

 

[Scottyboi]

Apologies if already mentioned:

Iceland, is running out of electricity, despite having vast quantities of ‘free’ hydrothermal available.
The reason?

Cyptocurrency mining is using more electricity than other thing in the country. The data centres there (for cheap electricity) are running at very high capacity.

Something a bit wrong.

Iirc the bbc website earlier this week had this news, or it could have been on theregister , tired, sorry.

Why is it wrong? Put the price up if that is the case.

Thanks for the heads up.

I bought 3 dogecoin variants last week, because I know some of them were going to skyrocket.

Unfortunately, the one I didn’t buy went up 6000%.

Unlucky there lol, I have sold off my litecoin before that fork last night. Pulled a lot of money out as I have a lot of betting to do. However if there is another dip I will be all over it.

Plan on selling my electroneum at the end of the month on Kucoin and potentially buying back in when the price drops. Will see how much I profit from it first.