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Cryptocurrency

Discussion in 'Randomination' started by Robbo, 19 Jul 2017.

  1. Dicko

    Dicko Teemu Tainio

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    You need to stop focusing on crypto as only a potential new currency and focus on the underlying technology, Which is the Blockchain. There are something like 2000-3000 different tokens out there from almost every sector of industry. It's the underlying technology of the Blockchain that is the revolution. Bitcoin is just the poster boy.
     
    Danishfurniturelover likes this.
  2. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    Yep. I write this posting using brave software which gives me bat tokens.
     
  3. P.D.

    P.D. Chris Armstrong

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  4. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    Dont deserve the money if that is the case.

    My passwords were all written down in more then one place and not in easy places to find. Like the back side of the draw in a chest of draws and the bottom pane of a wardrobe.

    The is also an easy way of doing passwords. Assign the letters of the alphabet a number then use the first letter of the players from 91 cup winning team.

    I have no respect or time for this tossers.
     
  5. SpurMeUp

    SpurMeUp Tom Huddlestone

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    To be honest, my focus has been on what people are using. I don’t know a lot about this, just learning, but it seems to me Bitcoin is the only blockchain that people have really used for transactions? Mainly on things like the SilkRoad. But also in some hipster businesses, as gifts to say streamers, you could buy pizza with it (I think the site closed now) etc. Bitcoin seems the most established and accepted crypto, all be it still very limited. The only way crypto currency values make sense is if people use the currency for transactions, do you agree?

    Which blockchain currency do you think is worth looking at?


    Sitting on my porcelain throne using glory-glory.co.uk mobile app
     
  6. SpurMeUp

    SpurMeUp Tom Huddlestone

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    Totally. And you can argue that with quantitative easing blockchains could be currencies that (mostly) don’t print money/dilute money. The hikes in things like Tesla and Bitcoin are probably related to governments printing money during Covid to keep things buoyant. They are both fashionable to invest in and there is more cash circulating, with people having less to do at home and keen to get their cash working while they’re not. Low interest rates means it’s a no brainier.

    Tesla and Airbnb will find their value in time. At the moment they promise growth. While their value is debatable, how do you value a currency that is not used to buy anything?


    Sitting on my porcelain throne using glory-glory.co.uk mobile app
     
  7. scaramanga

    scaramanga Ralph Coates Staff Member

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    Don't forget that Tesla has a CEO that consistently takes to Twitter and tries to tank its share value too.
     
  8. Diamond Lights

    Diamond Lights Richard Gough

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    So from what i've read, Coinbase charges massive fees but Coinbase Pro doesnt?
     
    Dicko likes this.
  9. Bedfordspurs

    Bedfordspurs Vic Buckingham

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    The same way you value the other two businesses
    Speculation and what someone’s willing to pay... plus any scarcity value.
    Do you know the history of diamonds and how the market was fixed to create value? It’s a great story and shows how you can create a value through marketing
     
  10. SpurMeUp

    SpurMeUp Tom Huddlestone

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    Technically you’re not buying a share of a company with Bitcoin or other blockchain. That’s possibly where some confusion lies. People want to be part of this new exciting tech and think they are buying into a business. You’re not. Correct me if I’m wrong, but it’s akin to buying dollars, or pounds and betting that these are strong currencies that will do well.

    Airb and Tesla you can look at their price to earnings ratio, their potential for growth, their turnover, growth of users etc.


    Sitting on my porcelain throne using glory-glory.co.uk mobile app
     
  11. Bedfordspurs

    Bedfordspurs Vic Buckingham

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    Yeah true
    Your buying a paper commodity at best
    But there is nothing to say that air bnb will exist and have the met rails value. And their value is in £ or $ terms.
    It is though as you say, currency speculation , just currency not backed by a government.
     
  12. scaramanga

    scaramanga Ralph Coates Staff Member

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    You need to think of bitcoin as more of a commodity.

    Nobody will be creating more of it, demand and value will track very well.
     
  13. SpurMeUp

    SpurMeUp Tom Huddlestone

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    Yes I have been hence comparing it to gold. Commodities traditionally have underlying value though. Coffee, coper etc. you can use them to make coffee or manufacture something. You can not use blockchain to pay for (most) things yet. If you are saying Bitcoin is a place to store money, gold would be the best comparison no?
     
  14. scaramanga

    scaramanga Ralph Coates Staff Member

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    That depends on howuch gold supplies are dwindling.

    There will never be any more BTC
     
  15. SpurMeUp

    SpurMeUp Tom Huddlestone

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    There will be less Bitcoin as muppets forget their passwords! But what is this halving thing @Danishfurniturelover

    You just said bitcoins are more of a commodity, pretty much all commodities can be mined or farmed. I guess bitcoins too?

    One of the things that is used to create more interest in Bitcoin is comparing it to gold. If you take all the value of gold that is in circulation and been identified in the ground, Bitcoin is but a fraction of the value. Thus people think it has a lot further to grow. Me, I am not so sure. I don’t foresee national banks and most people turning to Bitcoin instead of gold.


    Sitting on my porcelain throne using glory-glory.co.uk mobile app
     
  16. johnola

    johnola Jose Dominguez

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    But an infinite number of substitutes.

    Gold is not virtual.
     
    scaramanga likes this.
  17. Diamond Lights

    Diamond Lights Richard Gough

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    back to Crypto, awaiting coinbase to verify.

    Where can i find some good info on what Cryptos are potential investments for me to play with? Appreciate your help all.
     
  18. NoLimits01

    NoLimits01 William Gallas

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    I’m sure Danish will be along shortly to give some advice.

    Personally I’ve got a few quid in loopring, ripple and Tezos at the moment

    Loopring and Tezos I’m trading and ripple I’m in for the long haul to see what happens with the SEC lawsuit

    Oh and VET isn’t a bad one but I think it’s on the up at the moment so might only be worth it for a quick trade
     
  19. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    Every few years the mathematical equations used in the mining of bitcoin halve none as the halvening.

    It means the coins will have more scarcity and every time this has happened the value has gone up.

    It was the surest bet in April to put money into bitcoin.

    As @scaramanga said they cant create anymore, the is a limit to it.

    I'm on my freetrade apps forum more then this one now. So a little tip on shares, go for lemonade money, it is looking good.
     
  20. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    I'm still in on a few like you with ripple for the long haul. Interesting they are talking about burning coins which would be amazing going ahead.

    Have a few hundred in so many altcoins it is impossible to list them all.
     

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