Bitcoin currency of the future?

[Luminaire]

So is a condom to a hooker on Saturday night.

Thing is, I can walk into most any country, any city, any town or any village. No matter how remote, no matter what the language and no matter what the level of technological or social / economic status..........and buy anything with some gold.
It can be in coins, in bars, in jewellery, shaped like teeth or even dicks, hell it can even be shavings.
Can be minted from any country or even mined by hand. Nobody cares. They all recognise it and desire it.
Across time, across countries long gone, existing and still to come.

^this is why Bitcoin will never replace gold.

For a person with absolutely no foresight I could see why this might make sense.

If there's one thing I've learned in life, it's that things always stay the same way they were.

 

[Desdinova]

1876: "The Americans have need of the telephone, but we do not. We have plenty of messenger boys." — William Preece, British Post Office.

1876: "This 'telephone' has too many shortcomings to be seriously considered as a means of communication." — William Orton, President of Western Union.

1889: “Fooling around with alternating current (AC) is just a waste of time. Nobody will use it, ever.” — Thomas Edison

1903: “The horse is here to stay but the automobile is only a novelty – a fad.” — President of the Michigan Savings Bank advising Henry Ford’s lawyer, Horace Rackham, not to invest in the Ford Motor Company.

1943: “… there is a world market for maybe five computers.” - IBM Chairman Thomas Watson

Those sound like you to me.

Bitcoin is capable is 7 transactions per second. Visa can handle 47,000 per second. Not to mention bitcoin is a huge energy hog. Cryptocurrencies may be a thing in the future, but there are some major issues that bitcoin faces.

 

[Orgasmo]

You're so ignorant and so wrong it's hard to believe you still post here.

How long was it before the internet saw mass adoption?? 10, 15 years?? Moneygram has a partnership with ripple. Kodak is creating their own block chain. I own a coin that is going to be integrated with aptoide later this year. Aptoide being the 3rd largest app marketplace with 200 million users. There are countless examples of block chain projects being worked into real world products you're just too fucking ignorant to look into it.

So nothing concrete so far and you're comparing it to invention the Internet.

Fanboyism at its full glory right here everyone

 

[Michaelangelo]

should’ve bought on the dip

oh well there will be another one

 

[JAEGERX]

should’ve bought on the dip

oh well there will be another one

its always on January, thats what i learned, so save up, and wait for Janauary '19, and then boom -> rich

 

[Thunderchild]

Bitcoin is capable is 7 transactions per second. Visa can handle 47,000 per second. Not to mention bitcoin is a huge energy hog. Cryptocurrencies may be a thing in the future, but there are some major issues that bitcoin faces.

This is true, but that's the tradeoff for having a decentralized exchange whereas Visa has the entire ledger and everyone's spending data etc.

I think cryptocurrency is the short play and companies leveraging blockchain is the long play.

 

[CerebralKnievel]

its always on January, thats what i learned, so save up, and wait for Janauary '19, and then boom -> rich

That often tends to be true for stocks in general. If you look at the 52 week high and low, the low is very commonly around late December to early January.

 

[Der Eisbär]

So nothing concrete so far and you're comparing it to invention the Internet.

Fanboyism at its full glory right here everyone

>literally ignore what I just said
>repeat your previous assertion


There are countless examples of real world use cases for these projects:
-PRL (potential replacement for online ads)
-Ethereum (own programming language and decentralized app building platform. Already has produced a number of apps on its platform)
-Several exchange coins (yeah thats a real world product theyre a mediun of exchange for trading and provides liquidity)
-SALT (lending/borrowing platform)
-POWR (buy/sell/trade renewable energy, just getting its feet off the ground but does have a working product)

just STFU if you're going to continue sticking your head in the sand and ignoring reality instead of educating yourself and debating reality and real points you could be making

 

[HIMBOB]

This is true, but that's the tradeoff for having a decentralized exchange whereas Visa has the entire ledger and everyone's spending data etc.

I think cryptocurrency is the short play and companies leveraging blockchain is the long play.

More along my lines of thinking.

That often tends to be true for stocks in general. If you look at the 52 week high and low, the low is very commonly around late December to early January.

The standard is "sell in May and go away".

Basically sell down in May hold cash and buy in September. Historically it's worked well in American markets less so elsewhere. (Stock not crypto but possibly might apply there too)

 

[Inspector 2211]

1) Wire transfers are the most effective way to put money into coinbase or any other exchange that accepts USD. No fee and takes less than a day.
2) I don't recommend actually making your purchase on coinbase. The interface is garbage and it locks you in at the highest price of the given minute. What happened is you probably placed a buy order @ the price you saw on the screen and the price then moved before your buy went through. If you're going to insist staying on coinbase at least get set up on GDAX (coinbases actual exchange platform) and move your money from coinbase to Gdax, it's instant and free.

I appreciate the info. I do have a Gdax account. The first purchases I made was a few weeks ago with a credit card. It was instant. I bought through coinbase, and then moved it to Gdax so I can use to buy on binance.
So as of now, nearly 24 hours later my money is still tied up and it’s “pending”. What’s the point of this? Because nobody is selling at the price I locked it in at? So can I just transfer from my USD wallet straight to Gdax instantly and start buying alts?

 

[Der Eisbär]

I appreciate the info. I do have a Gdax account. The first purchases I made was a few weeks ago with a credit card. It was instant. I bought through coinbase, and then moved it to Gdax so I can use to buy on binance.
So as of now, nearly 24 hours later my money is still tied up and it’s “pending”. What’s the point of this? Because nobody is selling at the price I locked it in at? So can I just transfer from my USD wallet straight to Gdax instantly and start buying alts?

The only alts you can buy on Gdax are the same as coinbase: BCH, LTC, and ETH. But yes transferring from coinbase USD wallet to GDAX USD wallet is free and instant. Same with coins between the 2. Yeah I used to use my card to purchase on coinbase until they randomly bounced one of my purchases and reduced my buying limit from 750$ to 10$; yeah fuck coinbase. I did do one bank account transfer and it took about 5 days. Wire transfers are the way to go. 250k weekly limit, no fees, takes less than a day.

 

[Luminaire]

>literally ignore what I just said
>repeat your previous assertion


There are countless examples of real world use cases for these projects:
-PRL (potential replacement for online ads)
-Ethereum (own programming language and decentralized app building platform. Already has produced a number of apps on its platform)
-Several exchange coins (yeah thats a real world product theyre a mediun of exchange for trading and provides liquidity)
-SALT (lending/borrowing platform)
-POWR (buy/sell/trade renewable energy, just getting its feet off the ground but does have a working product)

just STFU if you're going to continue sticking your head in the sand and ignoring reality instead of educating yourself and debating reality and real points you could be making

None of what Der Fraudsbar here posted matters at all.

It doesn't matter if Ethereum has a nice platform. Is it worth 103 BILLION dollars... is Ethereum, some nice tech with some future application worth TWICE as much as Tesla?

Because that's what you're looking at with it's current price. And remember, Tesla is priced speculatively as well (which means it's currently overpriced due to the expectation of it performing better down the road)

And yet, Ethereum... is worth DOUBLE.

Now even if you wanted to defend that position, is it a good investment? Probably not. All this gets thrown out the window in bubble environments because it can be insanely overvalued (like Ripple) So in the short term Ethereum could ride hype to 2-3k, sure... but inevitably someone will be left holding the bag when the smart money safely exits.

 

[Inspector 2211]

The only alts you can buy on Gdax are the same as coinbase: BCH, LTC, and ETH. But yes transferring from coinbase USD wallet to GDAX USD wallet is free and instant. Same with coins between the 2. Yeah I used to use my card to purchase on coinbase until they randomly bounced one of my purchases and reduced my buying limit from 750$ to 10$; yeah fuck coinbase. I did do one bank account transfer and it took about 5 days. Wire transfers are the way to go. 250k weekly limit, no fees, takes less than a day.

My concern is that I already did the waiting period depositing from my bank into the USD wallet on coinbase. Now that I finally have the Cash in the USD wallet and tried to buy some BTC, I am sill having to wait. So am I expected to go through this whole process again?

I used Gdax last time so I can transfer to binance for low fees. I have used binance for my purchases before. I guess I should just transfer all my USD to Gdax and then buy from there. Litecoin would be a faster process then this BTC issue I am having correct?

 

[Orgasmo]

>literally ignore what I just said
>repeat your previous assertion


There are countless examples of real world use cases for these projects:
-PRL (potential replacement for online ads)
-Ethereum (own programming language and decentralized app building platform. Already has produced a number of apps on its platform)
-Several exchange coins (yeah thats a real world product theyre a mediun of exchange for trading and provides liquidity)
-SALT (lending/borrowing platform)
-POWR (buy/sell/trade renewable energy, just getting its feet off the ground but does have a working product)

just STFU if you're going to continue sticking your head in the sand and ignoring reality instead of educating yourself and debating reality and real points you could be making

Everybody knows you're the biggest crypto fanboy in here. It's standard practice for large corporations to invest in newer developments even if most of them results in nothing. Throwing out Kodak to demonstrate how mainstream blockchain is really showed how desperate you are. That company hasn't been relevant since digital cameras. The reality is you've been selling snake oil on how bright your fool's gold is gonna get. Why do you think fanboys keep encouraging newcomers to buy and HODL? Maybe it's because your little bubble needs a constant new stream of revenue to keep it going?

 

[DrVanNostrand]

I've cashed out profits twice over past 2 months. I expect tax man to come knocking mid june

 

[thoughtsone]

And we are back up 30% today.

 

[thoughtsone]

Everybody knows you're the biggest crypto fanboy in here. It's standard practice for large corporations to invest in newer developments even if most of them results in nothing. Throwing out Kodak to demonstrate how mainstream blockchain is really showed how desperate you are. That company hasn't been relevant since digital cameras. The reality is you've been selling snake oil on how bright your fool's gold is gonna get. Why do you think fanboys keep encouraging newcomers to buy and HODL? Maybe it's because your little bubble needs a constant new stream of revenue to keep it going?

I think in other countries Crypto is more mainstream then here. A good article came out about how south koreans are really banking on crypto to help them close the wealth gap (how realisitic that is remains to be seen), we have some european countries using to for multiple reason on a government level, and we also have the pathetic attempt of venezula creating it for a national currency. I think you are misunderstanding what is actually going on and are looking at it at face value, and since its something pretty new and completely different it looks like fools gold. ICOs are a form of investing in company. The one thing I DO think is retarded is how some of these coins are bringing in billions with NO prototype. On the flip side you have alibaba creating a mining platform, Envion creating mobile datacenters, smart contracts for energy, blockchain tracking for publishing rights in books and music, and a ton of other things. I get that there is a ton of over-valued items out there. In regards to platforms though, if its the baseline to be an alternative to EFTs or wire transfers, I believe it can easily be valued very, very highly. Its a in a weird space because its investing in a foundation of something that could eventually replace conventional banking, contract writing, asset management, etc how much is that worth in theory vs practice is a big unknown.

I at least am investing in the idea and spirit of it. I also already made a decent amount of money, I dont have an illusion this is going to magically make everyone rich. The coins I invest in have solid white papers, and are actually attacking known problems. The amount of projects is so broad its like saying if you back ANY project on kickstarter you are an idiot and they are all selling nothing. Thats not the case. You can choose not to invest, and perhaps put money into an REIT or similar. Crypto isn't going anywhere, but I would ask you take a look at it for more then face value, hell even Chase and other banks are starting to recant what they said earlier about it being fake. I get cryptobros are super annoying with the amount of hype they throw out there, but you might be missing something really great if you just trash the entire space.

 

[Der Eisbär]

My concern is that I already did the waiting period depositing from my bank into the USD wallet on coinbase. Now that I finally have the Cash in the USD wallet and tried to buy some BTC, I am sill having to wait. So am I expected to go through this whole process again?

I used Gdax last time so I can transfer to binance for low fees. I have used binance for my purchases before. I guess I should just transfer all my USD to Gdax and then buy from there. Litecoin would be a faster process then this BTC issue I am having correct?

Yes, transferring to GDAX and then buying from there is the best option. As for sending to binance; you are correct. Using litecoin is much faster and has much lower fees.

 

[Der Eisbär]

Everybody knows you're the biggest crypto fanboy in here. It's standard practice for large corporations to invest in newer developments even if most of them results in nothing. Throwing out Kodak to demonstrate how mainstream blockchain is really showed how desperate you are. That company hasn't been relevant since digital cameras. The reality is you've been selling snake oil on how bright your fool's gold is gonna get. Why do you think fanboys keep encouraging newcomers to buy and HODL? Maybe it's because your little bubble needs a constant new stream of revenue to keep it going?

Look dude, either you're going to argue with me within the confines of reality, or I'm going to block you and you can argue with the wall using your imaginary and delusional talking points. There are plenty of real and valid criticisms that you be pointing out but instead you're being an ignorant dip-shit arguing completely out of ignorance and making yourself look like an idiot.

You stated, there are NO real-world use cases for this tech.
I have provided several examples of real-world working use-cases.
As expected, you move the goal post and change your argument to mass-adoption.

Why do you think fanboys keep encouraging newcomers to buy and HODL? Maybe it's because your little bubble needs a constant new stream of revenue to keep it going?

That's literally how ANY STOCK OR COMMODITY WORKS YOU JACKASS.

You go ahead and remain a hater and a loser. The rest of us are out here making money and believe that the block-chain is going to change the world as we actually understand the technology and have spent time researching it unlike yourself.

 

[Luminaire]

For the record Der Fraudsbar blocked me like a month ago because I correctly scolded him for claiming Litecoin was a STEAL at $315... ($200 now)

And I have to say, it's not bad at all... Now I can smear him with impunity. There's no overly excited raving rebuttal from Der Fraudsbar.

I can just simply expose him for being a halfwit that avoids all accountability on this topic and barely has any money in it to begin with.