Bitcoin currency of the future?

[Deleted member 409801]

Cryptocurrency is already currency in Japan, legally, and it's staying that way.

The rest of the world tends to follow Japan's technological innovation sooner or later. Large companies from main industries are already jumping onboard throughout Europe and Asia, and entire governments including Australia, Thailand, Japan, Germany, China and some others I don't recall the names of are already on board with integrating them into the infrastructure.

It's anyone's guess at the moment, but it looks pretty solidified to me as to the direction its taking.

That direction very well probably will be Blockchain .......but it'll be on the terms of a governing body\bodies. Why are you so sure it'll be one of your pet coins that gets adopted and not a crypto currency that is purpose built by authorities from the ground up.

Extreme naivete to think world powers gonna be all " awe shucks guyzzz.....i guess its gonna be bitcoin now huh , this whole controlling the money supply schtick was fun while it lasted ! " , imo.

 

[CerebralKnievel]

You can secure as many coins as you want on one wallet as long as the wallet supports the coin. For example you can't store XRP or XLM on MyEtherWallet as its not an Ethereum based coin. I believe all the other coins are, so you can store them on one wallet.

I signed up and then using that Muse program I sent some POWR to it, but I couldn' figure out how to send it back out of my wallet. Truly low moment...

 

[HIMBOB]

I signed up and then using that Muse program I sent some POWR to it, but I couldn' figure out how to send it back out of my wallet. Truly low moment...

I do wonder what happens to those lost coins.
Are they effectively destroyed because they will never be used or are they returned to their maker???

 

[ChucksGlassJaw]

So none of these crypto's are actual currencies and they're not commodities either? So now we're full circle, back to being collector's items, like baseball cards.

 

[Reyesnuthugr]

So none of these crypto's are actual currencies and they're not commodities either? So now we're full circle, back to being collector's items, like baseball cards.

Completely wrong in your premise there. Can't even be debated because you started off dead wrong.

 

[Reyesnuthugr]

That direction very well probably will be Blockchain .......but it'll be on the terms of a governing body\bodies. Why are you so sure it'll be one of your pet coins that gets adopted and not a crypto currency that is purpose built by authorities from the ground up.

Extreme naivete to think world powers gonna be all " awe shucks guyzzz.....i guess its gonna be bitcoin now huh , this whole controlling the money supply schtick was fun while it lasted ! " , imo.

It doesn't rely on being fully adopted or even replacing regular currency.

But coins that get partial or full adoption don't exactly hurt for that fact in the longrun.

Same with currencies which are already in partnerships with several large companies and/or governments, perhaps already being integrated (some of them as early as now). Hopefully you see what I'm saying now

 

[ChucksGlassJaw]

Completely wrong in your premise there. Can't even be debated because you started off dead wrong.

Honestly, do any of these coins have a future as an actual currency? Enlighten me.

There were poor souls who had their retirements tied up in baseball cards. Then they woke up 1 day and they were worthless. Why? The market became so saturated that everyone lost interest in them as collectibles. They weren't commodities and the only thing backing them was market demand. When the demand stalls, the dream dies.

 

[Reyesnuthugr]

Honestly, do any of these coins have a future as an actual currency? Enlighten me.

There were poor souls who had their retirements tied up in baseball cards. Then they woke up 1 day and they were worthless. Why? The market became so saturated that everyone lost interest in them as collectibles. They weren't commodities and the only thing backing them was market demand. When the demand stalls, the dream dies.

A lot of them don't. But why bother with those? They aren't even all meant to function as currency-- that's only a portion of the market.

What's being talked about here are ones in the lead with the most promise.

When people talk about stocks do you only talk about the ones that wont do well as to make the case for the entire stock market being doomed? I don't see the point in that.

 

[ChucksGlassJaw]

A lot of them don't. But why bother with those?

What's being talked about here are ones in the lead with the most promise.

When people talk about stocks do you only talk about the ones that wont do well as to make the case for the entire stock market being doomed? I don't see the point in that.

I'd be absolutely shocked if any of them became stable enough to act as viable currency. There are governments and army's with a vested interest in that not happening.

 

[Reyesnuthugr]

I'd be absolutely shocked if any of them became stable enough to act as viable currency. There are governments and army's with a vested interest in that not happening.

Doesn't matter. A lot of governments don't like the US dollar or petro-dollar dominating things. It would be a lot easier if they could just use their own and not have to adopt another country's currency to stabilize their own economy.

Like I said, the application is not to serve as a replacement for regular currency-- that's only a small segment. There are much LARGER and more profitable (legal) applications.

 

[ChucksGlassJaw]

Doesn't matter. A lot of governments don't like the US dollar or petro-dollar dominating things. It would be a lot easier if they could just use their own and not have to adopt another country's currency to stabilize their own economy.

Like I said, the application is not to serve as a replacement for regular currency-- that's only a small segment. There are much LARGER and more profitable (legal) applications.

Most of the time they don't have a say in stabilizing their own economy. This is all by design. It doesn't matter what they want, it matters what the superpowers want. This has been the same since centralized govts were created going back thousands of years.

What other applications? I'm genuinely curious.

 

[Strychnine]

If you've got a spare $200K lying around...

"For one thing, the bitcoins are sold in blocks. In this case, there are five blocks of 500 bitcoins, five blocks of 100 bitcoins and one block of 813 bitcoins. In order to bid on the large quantities, participants must register with the Marshals Service by Jan. 19 and submit a $200,000 deposit to be credited toward the purchase. Bids have to be all-cash offers submitted through wire transfers. Bids can only be submitted once, and bidders do not get to see any other offers. And the auctions aren’t limited to U.S. citizens -- foreigners can participate too. "


http://www.fresnobee.com/news/nation-world/national/article194258844.html

 

[xcvbn]

Not gonna happen. I got news for you. Money is already digitized. Vast majority of the world's currencies in circulations are actually in digital form, and only 3% is cash. As of now, government legal tenders are more easily traded and much more widely accepted than cryptocurrencies. The scalability and stability just aren't there for these to become measurement of value. That's not to mention the amount of energy it takes to "mine" them. You're not taking a slice out of any pie anytime soon.

Harvard business review already done their studies on blockchain, and it's something that requires decades to slowly seep into existing financial institutions. If you're hoping to strike it rich in a year or two, don't hold your breath.

You're out of your element, Donny.

Blockchain-backed currency is the future(and blockchain technology to a much greater extent is the future of the internet). Its efficient, trustless, fully traceable, and fool-proof. Whether it's going to be dominant through a private(centralized, think Ripple(XRP)) or public blockchain(decentralized, think Bitcoin, Ethereum) is what's up for debate.

 

[xcvbn]

Interesting article regarding Bitcoin showing that it was likely one person that drove Bitcoin from $150 to $1,000:

https://techcrunch.com/2018/01/15/r...person-likely-drove-bitcoin-from-150-to-1000/



https://www.sciencedirect.com/science/article/pii/S0304393217301666

I'm sure this kind of thing still goes on with a lot of the alt coins.

This article is onto something, but attributing it to one person is a bold and unsubstantiated claim. Market manipulation is rampant on every exchange by way of bots setting automatically triggered buys and sells. It's used to drive the price up or down while profiting off of either movement. Market whales(major investors) team up to push prices in extreme directions for major gains.

What's funny is that the very same tactics are used on the NYSE as well, yet no one bitches there. Computers are simply much more efficient traders.

 

[Deleted member 409801]

Doesn't matter. A lot of governments don't like the US dollar or petro-dollar dominating things. It would be a lot easier if they could just use their own and not have to adopt another country's currency to stabilize their own economy.

Like I said, the application is not to serve as a replacement for regular currency-- that's only a small segment. There are much LARGER and more profitable (legal) applications.

Did you miss the part where the USD gets shoved by force down down the throat of the rest of the world? Its not gonna be surrendered without getting ugly

 

[xcvbn]

That direction very well probably will be Blockchain .......but it'll be on the terms of a governing body\bodies. Why are you so sure it'll be one of your pet coins that gets adopted and not a crypto currency that is purpose built by authorities from the ground up.

Extreme naivete to think world powers gonna be all " awe shucks guyzzz.....i guess its gonna be bitcoin now huh , this whole controlling the money supply schtick was fun while it lasted ! " , imo.

This is exactly what governments will be trying to do. I'd be extremely surprised if any governments' intention with crypto and blockchain technology were anything other than finding a way to make it work for their country in a centralized manor.

 

[ChucksGlassJaw]

This is exactly what governments will be trying to do. I'd be extremely surprised if any governments' intention with crypto and blockchain technology were anything other than finding a way to make it work for their country in a centralized manor.

They're gonna take the tech for themselves, not the currencies.

 

[ChucksGlassJaw]

BTW, I hope each and every one of you gets rich. I really do. I also think you're incredibly naive if you think governments will willingly allow something to destabilize the global economy.

 

[xcvbn]

They're gonna take the tech for themselves, not the currencies.

Why not both? It's vastly superior than what they currently use, and they can monetize their services just as well if not better. The price of upgrading existing systems is what's most prohibitive in the short-term but the loss of accounting overhead alone may make it worthwhile.

 

[xcvbn]

BTW, I hope each and every one of you gets rich. I really do. I also think you're incredibly naive if you think governments will willingly allow something to destabilize the global economy.

If you think cryptocurrencies and blockchain technology are about destabilizing the global economy I have to question your sources for that. You sound like a CTer.