Bitcoin currency of the future?

[Cid]

Anyone here know what the fuck RaiBlocks is or are lucky enough to own it?

Some where around 150,000% in a month!

23 cents this time last month now it's $34

That's fucking insane even in the crypto world.

 

[Tamriel Terror]

Welp I'm feeling pretty good.

I invested in 1 coin yesterday and just sold it for a $1,000 profit lol.

 

[lakersfan45]

I need an idiots guide to this stuff

Probably stupid question: are all these coins mineable ? Would it make sense to build a super powerful computer (say I’m willing to spend 10k) with the sole purpose of mining coins 24/7

 

[SwamiLeoni]

Anyone here know what the fuck RaiBlocks is or are lucky enough to own it?

Some where around 150,000% in a month!

23 cents this time last month now it's $34

That's fucking insane even in the crypto world.

I'd still invest as I think it's going to reach into the $70's+ once it hits Binance.

I need an idiots guide to this stuff

Probably stupid question: are all these coins mineable ? Would it make sense to build a super powerful computer (say I’m willing to spend 10k) with the sole purpose of mining coins 24/7

Maybe. But what you're willing to spend on a rig you could invest in Alts and make better money IMO. Especially with the MC at $700B. It's only going to go up. If BTC fixes their scaling issue, you know it's going to launch back up.

 

[Der Eisbär]

Sitting here waiting for my XVG bags to move >.>

 

[rj144]

Anyone here know what the fuck RaiBlocks is or are lucky enough to own it?

Some where around 150,000% in a month!

23 cents this time last month now it's $34

That's fucking insane even in the crypto world.

Damn... missed that one. I have a few penny cryptos that I basically put a few dollars in randomly. Hoping they take off like that.

If they don't, I'm out a few bucks. To me, penny cryptos are literally like lottery tickets. Sometimes you'll win, but it's not likely.

 

[Der Eisbär]

Bitcoin, the new vegan.

The entire market cap went from 16 billion in January 2017 to 700 billion today.... You're talking about 700 billion dollars created out of thin air within a year. Yeah, we're gonna fuckin talk about it.

 

[lakersfan45]

I'd still invest as I think it's going to reach into the $70's+ once it hits Binance.



Maybe. But what you're willing to spend on a rig you could invest in Alts and make better money IMO. Especially with the MC at $700B. It's only going to go up. If BTC fixes their scaling issue, you know it's going to launch back up.

What are “alts”

 

[Der Eisbär]

So the entire crypto market went 41x this year.

Can that trend continue? The world has 300 trillion in financial assets. Cryptos aren't event 1% of that yet.

If the crypto market does even half that growth this year we're looking at a total market cap of over 14 trillion.... .5% of global financial assets, roughly.

 

[SwamiLeoni]

So the entire crypto market went 41x this year.

Can that trend continue? The world has 300 trillion in financial assets. Cryptos aren't event 1% of that yet.

If the crypto market does even half that growth this year we're looking at a total market cap of over 14 trillion.... .5% of global financial assets, roughly.

Lol, I just don’t see that happening. What you’re essentially competing with are well established companies who have already gathered the trust of their shareholders. If the Crypto market was to reach $14T, it would almost double the NASDAQ. I don’t want an exponential growth like that; it’s much too scary for me.

 

[Der Eisbär]

Lol, I just don’t see that happening. What you’re essentially competing with are well established companies who have already gathered the trust of their shareholders. If the Crypto market was to reach $14T, it would almost double the NASDAQ. I don’t want an exponential growth like that; it’s much too scary for me.

Well, the NASDAQ is a US stock exchange. The crypto market is a global market, not just a US one, so it makes sense that it could be larger. And it's not like we're just talking about a single company here. We're talking about an entirely new class of commodities on a global scale. So to me comparing it to a US stock exchange is a little silly. Last year if you had said the crypto market would be worth more than goldman sachs by years end, people would say they don't see that happening. The crypto market hitting 14T by december would only be 50% of the growth we saw this last year, yet here you are?

 

[SwamiLeoni]

Well, the NASDAQ is a US stock exchange. The crypto market is a global market, not just a US one, so it makes sense that it could be larger. And it's not like we're just talking about a single company here. We're talking about an entirely new class of commodities on a global scale. So to me comparing it to a US stock exchange is a little silly. Last year if you had said the crypto market would be worth more than goldman sachs by years end, people would say they don't see that happening. The crypto market hitting 14T by december would only be 50% of the growth we saw this last year, yet here you are?

There’s nothing silly about comparing it to any stock exchange in the world. You can compare it with any of them because they will become competitors. You think you’re investing in a ‘coin’ when really you’re investing in a company’s technology. I know it’s global, I understand that. I also understand that the crypto market cap didn’t just flow into it’s $700B because people put the money they had in their bank account into their cryptos. They sold their assets to afford their current holdings. That’s what will essentially happen if the market cap reaches $14T. IOTA / ADA / LTC ect will all be competing with Apple, Amazon, GE, UTC ect. $700B is peanuts compared to the big players with established 100 year old companies.

 

[Der Eisbär]

There’s nothing silly about comparing it to any stock exchange in the world. You can compare it with any of them because they will become competitors. You think you’re investing in a ‘coin’ when really you’re investing in a company’s technology. I know it’s global, I understand that. I also understand that the crypto market cap didn’t just flow into it’s $700B because people put the money they had in their bank account into their cryptos. They sold their assets to afford their current holdings. That’s what will essentially happen if the market cap reaches $14T. IOTA / ADA / LTC ect will all be competing with Apple, Amazon, GE, UTC ect. $700B is peanuts compared to the big players with established 100 year old companies.

Yeah I agree that so far we're looking at retail investors putting their own money into the market and that's what has driven the total market cap up so far. But what about when traditional institutional money starts entering the market? Hedge funds, 401ks, ETFs and the like? That is bound to happen eventually as the crypto craze continues and Joe Smith the plumber is wondering why his company 401k isn't putting money into a market seeing 4000% gains.

 

[SwamiLeoni]

Yeah I agree that so far we're looking at retail investors putting their own money into the market and that's what has driven the total market cap up so far. But what about when traditional institutional money starts entering the market? Hedge funds, 401ks, ETFs and the like? That is bound to happen eventually as the crypto craze continues and Joe Smith the plumber is wondering why his company 401k isn't putting money into a market seeing 4000% gains.

I think the market is too volatile right now for big investors and those willing to invest their 401K’s or IRA’s. I think there is enough market data for big investors to make a wise decision, but it’s still the Wild West and you never know what can happen (Hopefully the World Book fixes this issue!). They dump $50M into IOTA only for a week later to learn IOTA’s platform is riddled with bugs and will never work. These situations will happen, there’s no doubt. Aside from that, I’m not a math major, but going from $200B to $700B is much different than going from $700B to $14T.

 

[Der Eisbär]

I think the market is too volatile right now for big investors and those willing to invest their 401K’s or IRA’s. I think there is enough market data for big investors to make a wise decision, but it’s still the Wild West and you never know what can happen (Hopefully the World Book fixes this issue!). They dump $50M into IOTA only for a week later to learn IOTA’s platform is riddled with bugs and will never work. These situations will happen, there’s no doubt. Aside from that, I’m not a math major, but going from $200B to $700B is much different than going from $700B to $14T.

I agree with your post but figures at the end there are wrong. We started 2017 with the total market cap for ALL cryptos being worth only 16-17 billion and ended up at 700 billion!!! That is fucking crazy. 41x in a year for the entire market. What's a conservative estimate of growth for you if 50% of last years growth isn't conservative enough?

 

[SwamiLeoni]

I agree with your post but figures at the end there are wrong. We started 2017 with the total market cap for ALL cryptos being worth only 16-17 billion and ended up at 700 billion!!! That is fucking crazy. 41x in a year for the entire market. What's a conservative estimate of growth for you if 50% of last years growth isn't conservative enough?

I just spit balled it. That’s a good question. If BTC can fix their scaling issues, it could cause another large jump due to people continuing to believe in the BTC brand name. Remember, BTC is what brought the market cap up to what it is. But, if people are learning about the different alts, that might help a bit as well. If I’m being conservative, I’d say 2-3T by end of 2018 might be a decent number. Again though, this is the wild west. BTC could shoot up to $50k by EOY and that would cause another huge influx of new investors. There’s always the personal FUD though, when will this thing pop that hinders the market cap growth due to people afraid to invest. The more the whales are able to affect the market, the bigger the chance this thing could crash. That’s why its key to be decentralized, so they don’t have a chance to do that.

 

[Der Eisbär]

I just spit balled it. That’s a good question. If BTC can fix their scaling issues, it could cause another large jump due to people continuing to believe in the BTC brand name. Remember, BTC is what brought the market cap up to what it is. But, if people are learning about the different alts, that might help a bit as well. If I’m being conservative, I’d say 2-3T by end of 2018 might be a decent number. Again though, this is the wild west. BTC could shoot up to $50k by EOY and that would cause another huge influx of new investors. There’s always the personal FUD though, when will this thing pop that hinders the market cap growth due to people afraid to invest. The more the whales are able to affect the market, the bigger the chance this thing could crash. That’s why its key to be decentralized, so they don’t have a chance to do that.

Agreed but keep in mind bitcoins market dominance has plummeted from 50% a month ago to 35% now. It would seem to me that the success of crypto is becoming less and less dependent on BTC although at this point it is obviously still the main player. I think 2-3 trillion is a fair and extremely conservative estimate. And STILL a metric fuck ton of money haha.

 

[HIMBOB]

I need an idiots guide to this stuff

Probably stupid question: are all these coins mineable ? Would it make sense to build a super powerful computer (say I’m willing to spend 10k) with the sole purpose of mining coins 24/7

So you know very little but are willing to throw 10k at mining?

Do you have any advantage like great IT skills, cheap electricity or access to cheap tech?

Without 2 of those (and I'd never thought I'd say this) i think buying coins is safer.

 

[lakersfan45]

How do i research all the different coins? What are the ones recommended ?

 

[lakersfan45]

So you know very little but are willing to throw 10k at mining?

Do you have any advantage like great IT skills, cheap electricity or access to cheap tech?

Without 2 of those (and I'd never thought I'd say this) i think buying coins is safer.

I have solar power so my electric bills are usually below 10 dollars monthly (sometimes around 2 or 3) and that’s for 3200 sqft house.

I wouldn’t just throw 10k without learning about it of course. That’s why I’m asking questions and prefaced it with I need an idiots guide. I’m literally saying I’m an idiot when it comes to crypto currency