Cryptocurrency Path To The Pot Of Gold At End Of The Rainbow Or Fools Gold

[PEB]

The rapidly growing popularity of cryptocurrency like Bitcoin or the mind blowing 5,000 percent increase of Ethereum value is causing major shake up of the financial markets.

Here is the funny thing is it''s just worth 127 billion combined. Compare the values of it to the nearly 800 billion for Apple alone.

Yet we have Bitcoin hanging around 3,000 each and Ethereum partying at around 400 each. Ethereum was just at around 8 dollars each in January unreal.

Do any Sherdoggers own any or have been following the craze. Do some of you worry about the possibility of it collapsing and losing everything?

Just interested in what Sherdoggers think about this world.

 

[ShinkanPo]

Pot of gold at the end of the Rainbow?? That is gay gold!!

Gay money?

Stop gay shaming

 

[Son of Jamin]

I have a friend that is quite rich in bitcoins. He trades with bitcoin, not primarily for profit but because he wants to support cryptocurrencys as a f*ck to the system.

He lost quite a lot of bitcoins when the FBI (I think it was them) shut down some big site a couple of years ago. But since then, he has made quite the small fortune in bitcoins again.

 

[forum poster]

He lost quite a lot of bitcoins when the FBI (I think it was them) shut down some big site a couple of years ago. But since then, he has made quite the small fortune in bitcoins again.

So you friend is a drug dealer?
When you talk about a site being shut down I'm guessing your referring to Silkroad.

 

[GSP_37]

I don't know much about this but saw a report about a virus that uses people's computer CPU power to "mine" this shit. How the fuck does people's CPU power create wealth that's used as currency from nothingness or electricity usage? Sounds like some lame Dungeons and Dragons videogame nonsense.

 

[Son of Jamin]

So you friend is a drug dealer?

<DrakeLaugh> Nope, but I know he visited sites like the Silk road but no drugs to my knowledge. He is just very idealistic, he supports many games that are crowdfunded but when he receives the games, he rarely installs them. It's all about his political views.

 

[forum poster]

<DrakeLaugh> Nope, but I know he visited sites like the Silk road but no drugs to my knowledge. He is just very idealistic, he supports many games that are crowdfunded but when he receives the games, he rarely installs them. It's all about his political views.

The silk road owner was a rabid libertarian too. The dude had around 25 million worth of bitcoin that he could of cut and run with, but he was too idealistic. Now he's likely spending the rest of his life in jail which would probably hurt even more knowing that he could of retired and lived a life of luxury in his 20's.

 

[Son of Jamin]

The silk road owner was a rabid libertarian too. The dude had around 25 million worth of bitcoin that he could of cut and run with, but he was too idealistic. Now he's likely spending the rest of his life in jail which would probably hurt even more knowing that he could of retired and lived a life of luxury in his 20's.

Yup, that got to hurt contemplating on.

I saw some documentary about him and that he supposedly ordered hitmen to kill his enemies. Very interesting case.

 

[VivaRevolution]

The rapidly growing popularity of cryptocurrency like Bitcoin or the mind blowing 5,000 percent increase of Ethereum value is causing major shake up of the financial markets.

Here is the funny thing is it''s just worth 127 billion combined. Compare the values of it to the nearly 800 billion for Apple alone.

Yet we have Bitcoin hanging around 3,000 each and Ethereum partying at around 400 each. Ethereum was just at around 8 dollars each in January unreal.

Do any Sherdoggers own any or have been following the craze. Do some of you worry about the possibility of it collapsing and losing everything?

Just interested in what Sherdoggers think about this world.

Unless you can shut down the dark net, I don't think it is possible for its value to collapse. It has a monopoly on currency for exchange.

 

[VivaRevolution]

I don't know much about this but saw a report about a virus that uses people's computer CPU power to "mine" this shit. How the fuck does people's CPU power create wealth that's used as currency from nothingness or electricity usage? Sounds like some lame Dungeons and Dragons videogame nonsense.

There are stores in the mall that is closest to you, that take bitcoin.

There are 3rd party services, that allow you to shop at amazon using bitcoin.

Not exactly dungeons and dragons.

 

[hillelslovak87]

Pot of gold at the end of the Rainbow?? That is gay gold!!

Gay money?

Stop gay shaming

Gay money is the only money I take these days. It smells like lavender, and it's neatly pressed.

 

[PEB]

E-currency got slammed yesterday with transactions and dropped an average of like 15 percent. It lost over 30 billion in one day in total value.
It turns out it actual value is placed around 200 or so billion.

Yet news like this one makes more news.

"The latest craze in the cryptocurrency markets just got crazier. An outfit called the Bancor Foundation raised $153 million worth of ether (the coin of the cryptocurrency ethereum) by selling its digital tokens (the equivalent of shares) for three hours on June 12, making it the largest token sale ever."

https://qz.com/1004892/the-bancor-ico-just-raised-153-million-on-ethereum-in-three-hours/

 

[Cid]

I don't know much about this but saw a report about a virus that uses people's computer CPU power to "mine" this shit. How the fuck does people's CPU power create wealth that's used as currency from nothingness or electricity usage? Sounds like some lame Dungeons and Dragons videogame nonsense.

Business, research etc need processing power. You can sell your processing power to them for bitcoin.

Or better yet, create a virus that drains a little processing power from thousands of people.

 

[TSO]

I mined bitcoins for a while but they went away when a big raid shut down the place I had my "wallet" attached to.

 

[VivaRevolution]

 

[xcvbn]

Judging by the comments itt and the few msm articles I've read it's obvious that blockchain technology has a long way to go before mainstream adoption. The "currency" aspect of this technology is akin to an app on the original iPhone, or web domains on the internet. Will continue buying until people get somewhat of a clue.

BTW here's a good site to check the market caps of various coins/crypto teams: https://coinmarketcap.com/

 

[Gregolian]

I have a friend constantly going on about Etherium or however you spell it and I'm not comfortable investing into it without knowing how I can get a return on my investment.

 

[xcvbn]

I have a friend constantly going on about Etherium or however you spell it and I'm not comfortable investing into it without knowing how I can get a return on my investment.

It's potentially a multi-trillion dollar enterprise market that could revolutionize the way businesses handle business, finances, contracts, and security. Its technology makes middle-men companies like Uber and AirBnB vastly more expensive to the contractor, and it could do to contracts/files what the typewriter/keyboard/printer has done- and then some. It maximizes efficiency and injects a trust-less mechanism into areas that badly need it. No more charging $15 for wires, banking errors sending your money to incorrect accounts, 5 day bank transfers, insane fees for processing paper contracts, etc. It currently has the top developers in the blockchain/cryptography field- and when you have top developers in groundbreaking computer technology you get things like email, internet 1.0, ecommerce, and social media. There is a reason why dozens of fortune 500 companies have invested in small teams to research Ethereum specifically.

At the same time the Ethereum brand isn't necessarily needed to achieve these goals- the technology is open-sourced for anyone to use and there are ways to utilize the tech privately rendering the Ether "coin" or "token" useless in those applications.

 

[Gregolian]

It's potentially a multi-trillion dollar enterprise market that could revolutionize the way businesses handle business, finances, contracts, and security. Its technology makes middle-men companies like Uber and AirBnB vastly more expensive to the contractor, and it could do to contracts/files what the typewriter/keyboard/printer has done- and then some. It maximizes efficiency and injects a trust-less mechanism into areas that badly need it. No more charging $15 for wires, banking errors sending your money to incorrect accounts, 5 day bank transfers, insane fees for processing paper contracts, etc. It currently has the top developers in the blockchain/cryptography field- and when you have top developers in groundbreaking computer technology you get things like email, internet 1.0, ecommerce, and social media. There is a reason why dozens of fortune 500 companies have invested in small teams to research Ethereum specifically.

At the same time the Ethereum brand isn't necessarily needed to achieve these goals- the technology is open-sourced for anyone to use and there are ways to utilize the tech privately rendering the Ether "coin" or "token" useless in those applications.

See, I've been told all this before...

But how do I get my money back out of it is where I get confused.

Like, I invest a dollar and say it makes $10 for me... how to I draw the $9 out and reinvest or use it for like... a burger?

 

[Ruprecht]

The silk road owner was a rabid libertarian too. The dude had around 25 million worth of bitcoin that he could of cut and run with, but he was too idealistic. Now he's likely spending the rest of his life in jail which would probably hurt even more knowing that he could of retired and lived a life of luxury in his 20's.

He wasn't that idealistic, he tried to have witnesses killed.