Bitcoin currency of the future?

[Nononononotorious]

I just don't buy into this new Etherum thing. I haven't seen anything that accepts anything other than Bitcoin.

Might be a good short term investment and there's an opportunity to make a shit load of money in a very short period of time, but I just don't see it taking over Bitcoin.

You never know

How does one even go about buying online currency like this?

 

[hbdope]

I just don't buy into this new Etherum thing. I haven't seen anything that accepts anything other than Bitcoin.

Might be a good short term investment and there's an opportunity to make a shit load of money in a very short period of time, but I just don't see it taking over Bitcoin.

Interesting you say that, because Ethereum is up over 2,000% in a year.

http://www.cnbc.com/2017/05/24/ethereum-price-bitcoin-rally.html

Current monetization isn't even a driving factor for many companies. Look at TSLA and SNAP. SNAP loses money every quarter and TSLA sells 500x less cars than Ford but has a Market cap larger than Ford. If you read the article it says ethereum is focused on smart contracts...contrary to bitcoin focusing on payment technology.

If you don't do your DD you're just gambling pure and simple lol.

 

[iWinYouLose]

How do you guys think the economy is going to play out, also considering bitcoin/ethereum/etc?

Personally, I don't really know much about btc, I don't even know how to safely buy some (was going to ask how you guys safely buy your btc and ethereum).

Despite my lack of knowledge on the currency itself, looking at the world from a common sense standpoint and how the internet changed our daily and essential existence as a species, especially the US - is going to pot at unprecedented speeds, I would wager to say that eventually the entire world will run on some sort of online currency and only that.

Look at what's around us:

Everyone is buying stuff through amazon/ebay/etc and retail sales have plummeted. Except for a very few items that are either too large to order online or items people really need to try out or see in person, everything is ordered online now. Hell, people are even ordering their groceries online now and having then delivered to their door.

Everything is done by card now, whether online or in a retail setting. Nobody wants to carry around bulky cash that you could be robbed for and never see again. At least if you get robbed for your cards, you can cancel them and use your fraud protection and get your money back.

The use of online shipping will be even more revolutionized by the use of drones. I guarantee you in the next 20 years, everything besides a statue or gunsafe will be delivered via drone. Even larger things like car parts, televisions, etc will be delivered via drone or multiple drones attached to one another to accommodate the extra weight. Imagine being able to order anything you want or need, and it being there in 20 minutes? No waiting on fedex, ups, no waiting on a truck, no waiting a week or 2 on anything. I believe amazon will be the first to utilize this method and the major transportation companies like fedex and ups will suicide dive into reforming their delivery service to drone before it's too late. Pretty much the only 'physical' classic form of transport will be cargo ships due to their insurmountable ability to carry massive numbers and weight. Everything else will be drone.

Paper currency is unsustainable and simply a bandage on a hemorrhage that has yet to be fixed. We spend so much money on the process of printing money it's ridiculous. Eventually, everything will be digital, whether the dollar plummets or not -

Which I think it will^ . America's overpopulation, lack of jobs, bloodthirst for war, and several other circumstances will eventually kill our economy and our position as a superpower. Every other superpower has fallen due to the exact behavior we are exhibiting as a country right now. When the dollar tanks, and it is merely kindling and toilet paper, online currency will skyrocket. Other countries are at risk for this as well.

Precious metals have always been heralded as fool proof, but in today's age, really, who gives a crap about it? Sure people will still want it for their jewelry, and silver for electronics, but you can't eat it. You can't buy anything on amazon with it, and imagine if they tried to make it to where you could? Massive fail. Imagine how cumbersome it would be to try and convert gold pebbles into a jacket from amazon? Nobody is willing to do that when bitcoin can accomplish this in seconds. No banks, no middlemen, just instant gratification.

A lot of people are saying it's a big hypejob, and I suppose inferring that it's the next bubble to burst when everyone starts jumping on the bandwagon trying to make a buck. However, this could simply be dissenting of misinformation and propaganda, which we know America has a doctorate in, in order to deter people from striking it rich and poor people suddenly becoming wealthy overnight, because the rich wouldn't like that.

Plus the potential for copycats saturating the market and lessening the impact of bitcoin?

Or the fact that online currency may be an orchestration by wealthy people in positions of economic power/interest, similar to Kelly Blue Book - there's no exact formula on how to value a car, the market and desire for the vehicle determines it's value, however KBB says you should listen to what THEY SAY it's worth and shutup. There are very good reasons to believe that KBB is nothing more than a money making tool perpetuated by the rich and powerful of the auto industry, they buy up massive amounts of a certain car, and change the value of the car by thousands for day to day, and sell said vehicles when KBB claims the value is up, and make all the money.

^the same could be the circumstance with bitcoin - people in power pressing a button saying one day it's worth 1000, the next 1800, the next 2250. And while the poor people are thinking they are getting rich, they are really only getting rich on paper because these powerful individuals are TELLING then they are getting rich, when in reality the bubble is going to burst and the rich will laugh all the way to the bank while the poor people are left holding the bag.

What are some things you see contributing to the rise of online currency?

Do you think it is the next huge change in the way human beings live in the world and will become the next Internet revolution, possibly even bigger?

And how do I get my hands on some bitcoin/ethereum/other online currencies??

 

[ToxicShocker]

Wow interesting read

Just kidding.

 

[iWinYouLose]

Wow interesting read

Just kidding.

Tanks

 

[Zer]

@mr.bigglesworth posted some interesting thoughts on this shit the other week, so I ended up buying some Ethereum last week. Pretty impressed with the results so far. Steady growth but obviously gonna stick around long term see where it goes

You gotta find a trading broker ts. I'm on Quadriga. I had to do some ID verification and that took a few days to process (Send them a pic of some ID and a pic of you holding that ID). Then you just throw some money into your acct (You can do this a number of ways depending on how much you want to invest)

 

[sub_thug]

Digital currencies using Blockchain technologies may eventually replace printed currencies held by centralized governments/banks. Due to their decentralized nature, they tend to be less stable, fluctuating more like the daily ticks of the stock market. So that's the downside. If everyone were on this, many of those problems would go away because value is relative.

You can buy bitcoin online easily. You can google it and find places to complete this transaction. Be wary though. As I said, the currencies are volatile.

 

[iWinYouLose]

@mr.bigglesworth posted some interesting thoughts on this shit the other week, so I ended up buying some Ethereum last week. Pretty impressed with the results so far. Steady growth but obviously gonna stick around long term see where it goes

You gotta find a trading broker ts. I'm on Quadriga. I had to do some ID verification and that took a few days to process (Send them a pic of some ID and a pic of you holding that ID). Then you just throw some money into your acct (You can do this a number of ways depending on how much you want to invest)

Link to his post?

And I'll definitely look into that, thanks for the info. And you operate all of that just from your phone?

Have you ever heard of Coinbase? Apparently they are the leader in btc.

What I'm really looking for is a place where I can buy btc/ethereum/etc in one place and have it be all inclusive, and be able to buy and sell currency right from my phone when the market rises.

Digital currencies using Blockchain technologies may eventually replace printed currencies held by centralized governments/banks. Due to their decentralized nature, they tend to be less stable, fluctuating more like the daily ticks of the stock market. So that's the downside. If everyone were on this, many of those problems would go away because value is relative.

You can buy bitcoin online easily. You can google it and find places to complete this transaction. Be wary though. As I said, the currencies are volatile.

I agree. I believe it's the future.

volatility and copycats saturating the market worry me though.

Is there a place where one can buy and sell online currency all in one place like stock market apps?

 

[Zer]

Link to his post?

And I'll definitely look into that, thanks for the info. And you operate all of that just from your phone?

Have you ever heard of Coinbase? Apparently they are the leader in btc.

What I'm really looking for is a place where I can buy btc/ethereum/etc in one place and have it be all inclusive, and be able to buy and sell currency right from my phone when the market rises.

Here's the thread I was talking about bro

http://forums.sherdog.com/threads/will-bitcoin-ever-die.3535227/

On Quadriga you can buy and sell Bitcoin and Ethereum very easily once you have funds in your account. I think Coinbase is the same. I don't think Quadriga has a phone app so maybe not the best choice for you

 

[sub_thug]

I agree. I believe it's the future.

volatility and copycats saturating the market worry me though.

Is there a place where one can buy and sell online currency all in one place like stock market apps?

Don't worry about copycats. Bitcoin is the standard based on the technology. I'd rather not explain it because it takes a while, but you don't need to worry. Volatility is the concern.

Not to my knowledge. You can get Bitcoin in lots of places though.

 

[Grob]

The one thing that concerns me the most about a world cyptocurrency is "who" will determine it's value against real world items? If there is no USD, how much bitcoin will it cost me to buy a gallon of milk? Will that price change drastically on an hourly basis?

 

[phisherman]

Bitcoin = Currency
Ethereum = Technology inspired by Bitcoin technology that can be applied in different business cases.

Most exchanges now offer both Bitcoin and Ethereum so you can sign up to any. The problem is that there is an influx of investors getting in so verification is taking a lot longer.

The most important part for beginners is finding out how to safely store what you bought. Read up on Bitcoin/Ethereum wallets.

 

[xcvbn]

The one thing that concerns me the most about a world cyptocurrency is "who" will determine it's value against real world items? If there is no USD, how much bitcoin will it cost me to buy a gallon of milk? Will that price change drastically on an hourly basis?

There likely won't be a "world cryptocurrency" aside from Bitcoin itself. Right now there a couple major countries considering to run currency on the Ethereum blockchain and China's government calling Ethereum technology "of great national interest":

Singapore:
https://coinjournal.net/singapore-central-bank-uses-ethereum-digitalize-national-currency/

The Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, has released a new report detailing Project Ubin, an initiative triggered last year aimed at developing a tokenized form of the Singapore dollar (SGD) on a distributed ledger.

Russia:
https://www.cryptocoinsnews.com/rus...on-ethereum-blockchain-prototype-masterchain/

The Bank of Russia, the country’s central bank, has developed a technical prototype called ‘Masterchain’. The prototype is based on distributed ledger or blockchain technology for the Russian financial market, an announcement by the bank revealed yesterday.

https://cointelegraph.com/news/suddenly-vladimir-putin-meets-vitalik-buterin-endorses-ethereum

China(possibly):
https://bitcoinmagazine.com/articles/chinas-interest-and-investment-ethereums-blockchain-expands1/

When we first heard Vitalik Buterin was learning Chinese, it was a clue to his ambitions in China. Less than two years later, the platform he co-founded is now a growing force in the Middle Kingdom. Since he joined the ChinaLedger Alliance (May 2016) and announced the expansion of BlockApps, an Ethereum building-blocks platform, in China (September 2016), there has been a movement in cities and among companies in big industries all throughout China. This is in some part due to the efforts of Wanxiang Blockchain Labs, which has made it their mission in China to bring Ethereum to the mainstream, and also in part to the savvy and persistent efforts of Buterin himself.

At a recent Ethereum meetup in Hong Kong, Buterin said that “Wanxiang Blockchain Labs are making good inroads into China.” Headquartered in Hangzhou, Wanxiang has led the Ethereum charge in China for more than a year. Having partnered with Ethereum early on for the Global Blockchain Summit following Devcon2 in Shanghai in July of 2016, Wanxiang is now China’s top funder of promising blockchain projects.

 

[xcvbn]

The one thing that concerns me the most about a world cyptocurrency is "who" will determine it's value against real world items? If there is no USD, how much bitcoin will it cost me to buy a gallon of milk? Will that price change drastically on an hourly basis?

Cryptocurrency like Bitcoin, ZCash, Monero is a free-market's wet dream. A truly decentralized form of currency. But it's doubtful a country won't maintain some form of central authority over their own digital currency. Which means decentralized global currencies will remain popular.

 

[KONG-D'SNT-TAP]

My Erhermium is kicking ass right now

 

[Jack Reacheround]

I really should care about this but I just don't.

 

[xcvbn]

My Erhermium is kicking ass right now

It's been on a tear since January. Hard to believe it continues growing at this rate- we kinda need a quick 50% downturn for a couple weeks to shake weak hands or a months-long bear market to stabilize the price. But when each week has more and more news of countries and major corporations announcing plans with Ethereum it'll just keep exploding.

 

[xcvbn]

I really should care about this but I just don't.

When you don't have to pay for things like actuaries and exorbitant fees associated with any type of contract you can thank blockchain technology. This isn't a zero sum game- the technology will positively affect everyone, aside from shitty traders.

Here's a pretty good tldr/ELI5(the title is not an exaggeration):

 

[Desdinova]

Can someone explain to me what ethereum is all about. I read a lengthy description, but is still seemed rather nebulous to me.

I regret not mining bitcoin early on, but don't we all?

 

[DrTrouble]

I bought $7500 worth of etherium a few weeks back when I saw a post on Here about it. It was @ $185 then, now it's about $275.