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Cryptocurrency

P.D. said:
No one knows who invented it but I doubt the person who did would be as stupid as this.
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Yes this guy looks like a fraud. In it for the publicity. Wasn't there a message sent - from the founding Bitcoin accounts thought to be associated with the true inventor of Bitcoin, claiming him to be a fraud? The point is only the person who had the password to these founding Bitcon wallets, could send that message - effectively from these founding wallets?

Danishfurniturelover said:
The CIA invented to track criminals. They realised in their laboured efforts to catch bin laden they had to change the game.
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What is interesting is this Satoshi Nakamoto - the supposed founder of Bitcoin, is unknown! There are huge huge sums held in wallets that can be observed from their creation date. They are such large sums they could rock the currency if sold off. It could well be the CIA, or some other institution sitting on these billions. Could you imagine one individual would have left all of this value in there as it became worth real money over the years? Doesn't quite make sense right?


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While fascinating, I have not invested in crypto. The fact that no one uses the currencies to spend money alarms me, and makes me think it all based on speculation. Ride the wave, why not, just be conscious that very little underpins these currencies. While other assets become inflated - someone flagged Tesla - their share price is underpinned by something that does make money. Tesla cars are being bought by people. Personally, I need that link to reality and genuine value to be able to invest.
 
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SpurMeUp said:
Yes this guy looks like a fraud. In it for the publicity. Wasn't there a message sent - from the founding Bitcoin accounts thought to be associated with the true inventor of Bitcoin, claiming him to be a fraud? The point is only the person who had the password to these founding Bitcon wallets, could send that message - effectively from these founding wallets?



What is interesting is this Satoshi Nakamoto - the supposed founder of Bitcoin, is unknown! There are huge huge sums held in wallets that can be observed from their creation date. They are such large sums they could rock the currency if sold off. It could well be the CIA, or some other institution sitting on these billions. Could you imagine one individual would have left all of this value in there as it became worth real money over the years? Doesn't quite make sense right?


---

While fascinating, I have not invested in crypto. The fact that no one uses the currencies to spend money alarms me, and makes me think it all based on speculation. Ride the wave, why not, just be conscious that very little underpins these currencies. While other assets become inflated - someone flagged Tesla - their share price is underpinned by something that does make money. Tesla cars are being bought by people. Personally, I need that link to reality and genuine value to be able to invest.
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I think you're misunderstanding what some crypotos are, there's people on here who know a lot more than me who may say different but most of them are just technology platforms really. Bitcoin was designed as a virtual currency and is just as you describe it and is really heavily outdated now but many of the others are prety advanced technology platforms that use a blockchain to secure the data/transactions. Sure you could buy the tokens and technically send them to someone as payment but that's not how they designed them, instead the currency is needed to put a transaction through the platform - basically used as a transaction fee.

Blockchain has many uses in the real world, I'd imagine if a vaccine passport for example is built then there's a high chance it will be built using a blockchain. In my field (HR) blockchains are already being built to store job qualifcations that can then be accredited once and used if an employee moves job in the future.
 
P.D. said:
I think you're misunderstanding what some crypotos are, there's people on here who know a lot more than me who may say different but most of them are just technology platforms really. Bitcoin was designed as a virtual currency and is just as you describe it and is really heavily outdated now but many of the others are prety advanced technology platforms that use a blockchain to secure the data/transactions. Sure you could buy the tokens and technically send them to someone as payment but that's not how they designed them, instead the currency is needed to put a transaction through the platform - basically used as a transaction fee.

Blockchain has many uses in the real world, I'd imagine if a vaccine passport for example is built then there's a high chance it will be built using a blockchain. In my field (HR) blockchains are already being built to store job qualifcations that can then be accredited once and used if an employee moves job in the future.
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Do you think it would make sense to invest in companies that are using blockchains in the real world for HR and other uses? Essentially software companies. When you're buying a cryptocurrency what is it you think you are buying? Not the tech that makes it possible, you're buying a tiny percentage of that currency, are you not?
 
SpurMeUp said:
Do you think it would make sense to invest in companies that are using blockchains in the real world for HR and other uses? Essentially software companies. When you're buying a cryptocurrency what is it you think you are buying? Not the tech that makes it possible, you're buying a tiny percentage of that currency, are you not?
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Sure but those companies own their own platform of which blockchain will form only a small part of their overall offering. They don't need to run everything on a blockchain but the companies using it are generally likely to be forward thinking places using the latest innovations and will be successful because of that not because they use a blockchain for some areas.

You're buying the tokens that are required to transact on that platform but those tokens are only worth something because people want to buy them to use the platform. If the platforms weren't successful in the real world with people using them then the tokens would be worthless - the fact there's a limited supply is irrelevant at this stage because most of them have a supply limit in the tens of billions.
 
P.D. said:
Sure but those companies own their own platform of which blockchain will form only a small part of their overall offering. They don't need to run everything on a blockchain but the companies using it are generally likely to be forward thinking places using the latest innovations and will be successful because of that not because they use a blockchain for some areas.

You're buying the tokens that are required to transact on that platform but those tokens are only worth something because people want to buy them to use the platform. If the platforms weren't successful in the real world with people using them then the tokens would be worthless - the fact there's a limited supply is irrelevant at this stage because most of them have a supply limit in the tens of billions.
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Crypto is fun, there is money to be made as you ride the wave, but I have a soft spot for you fellas so I have to call it as I see it. Let me be candid:

  • There is enough interest in crypto at the moment for this wave or bubble to keep going for a while.
People who don't necessarily understand what it is they are investing in have seen others make a lot of money, and want it. This is happening across the world in a big way.

  • Re. the bold part of your post, with respect is anyone buying tokens to use for something other than to speculate and make money? If so what is it?

I have to quote you twice, because you have nailed it imo:

  • If the platforms weren't successful in the real world with people using them then the tokens would be worthless

This is the crux of it. For your own investments, just be careful, as if you can't find real economic activity underpinning the token or currency, then the value of that token or currency is based upon speculation. Increases in value are solely driven by more people speculating, not more people needing the tokens for something.

It's very hard to guess when the crypto-boom might deflate or collapse (and maybe it never will I can't say for sure), but imo it will once the current rush to get rich quick runs its course, and people want to take the money. When things open up around the world and governments start to take back some of the money they have printed, we could also see big corrections in values (not just in crypto). So there is no doubt money can be made short term in crypto, but I wouldn't put too much into it longer term.


Of course this is just my opinion. Crypto could be here to stay, but unless you can see it actually being used for something other than speculation, tread with care imo.
 
SpurMeUp said:
Crypto is fun, there is money to be made as you ride the wave, but I have a soft spot for you fellas so I have to call it as I see it. Let me be candid:

  • There is enough interest in crypto at the moment for this wave or bubble to keep going for a while.
People who don't necessarily understand what it is they are investing in have seen others make a lot of money, and want it. This is happening across the world in a big way.

  • Re. the bold part of your post, with respect is anyone buying tokens to use for something other than to speculate and make money? If so what is it?

I have to quote you twice, because you have nailed it imo:

  • If the platforms weren't successful in the real world with people using them then the tokens would be worthless

This is the crux of it. For your own investments, just be careful, as if you can't find real economic activity underpinning the token or currency, then the value of that token or currency is based upon speculation. Increases in value are solely driven by more people speculating, not more people needing the tokens for something.

It's very hard to guess when the crypto-boom might deflate or collapse (and maybe it never will I can't say for sure), but imo it will once the current rush to get rich quick runs its course, and people want to take the money. When things open up around the world and governments start to take back some of the money they have printed, we could also see big corrections in values (not just in crypto). So there is no doubt money can be made short term in crypto, but I wouldn't put too much into it longer term.


Of course this is just my opinion. Crypto could be here to stay, but unless you can see it actually being used for something other than speculation, tread with care imo.
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The will in 10 years time be under 10 crypto companies. Bitcoin will be one of them, whether that price is £100 or £100,000 i could mot tell you.

The are a lot of cool crypto companies on coinbase and you learn there use cases.

Ripple wanting to tap into the cross country money sending markets where often immigrant workers are fleeced, banking the unbanked is their tag line. They are a cool company that deserve success.

Vechain is a particular favourite of mine.

It is a bit like the dot dotcom boom as many wont make it.

As a sports fan take a look at sorare not a crypto coin per say but a very interesting company. I'm in it a little.
 
Danishfurniturelover said:
The will in 10 years time be under 10 crypto companies. Bitcoin will be one of them, whether that price is £100 or £100,000 i could mot tell you.

The are a lot of cool crypto companies on coinbase and you learn there use cases.

Ripple wanting to tap into the cross country money sending markets where often immigrant workers are fleeced, banking the unbanked is their tag line. They are a cool company that deserve success.

Vechain is a particular favourite of mine.

It is a bit like the dot dotcom boom as many wont make it.

As a sports fan take a look at sorare not a crypto coin per say but a very interesting company. I'm in it a little.
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Also ripples distributed data and processing software is quite cool and a lot less burdensome than blockchain

I have written so many white papers on why not to use block chain due to payload size restrictions
 
NoLimits01 said:
Also ripples distributed data and processing software is quite cool and a lot less burdensome than blockchain

I have written so many white papers on why not to use block chain due to payload size restrictions
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Can you explain it in layman’s terms?
I know who do blockshain being used for shipping vessel insurance now and I thought it was a great allocation of the tech
 
It works well with small payloads, as each transaction is recorded in the payload it increases each time a transaction is made.

The crux comes when you realise that every transaction has to be recorded in every ledger before the transaction can be confirmed. The bigger the payload or transaction file the more processing power needed.

So if I want to track a shipment all I need is the transaction number and as this is a small piece of data that has a finite lifespan it works well.

If I want to track a shipment and also know what’s in the shipment, where its come from, where it’s going, customs certificates, etc. This is lots of information and we also need to keep it as it forms part of the history of the overall shipment on the boat or plane. This is a lot of information that will grow with every shipping movement, the blockchain distributed ledger grows exponentially and as we know the ledger has to be copied everywhere and completed before the transaction can be completed

So good for little bits of data, bad for big data movements
 
Bedfordspurs said:
Can you explain it in layman’s terms?
I know who do blockshain being used for shipping vessel insurance now and I thought it was a great allocation of the tech
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It can do interesting things, but the issue is there are less complex, cheaper, more useable ways of doing those same things more often than not.

- Cryptocurrency uses a lot of energy, que the references to using more power than Austria/Argentina/etc.
- The other issue is the blockchain system is resistant to change (benefit) but it real world where multiple corrections are needed/expected, there are simpler ways of doing things

Not sure if anyone linked anywhere but there is an article called "blockchain, the amazing solution for almost nothing"

Cryptocurrencies will survive in some format, but it will be fought all the way ..
 
SpurMeUp said:
Crypto is fun, there is money to be made as you ride the wave, but I have a soft spot for you fellas so I have to call it as I see it. Let me be candid:

  • There is enough interest in crypto at the moment for this wave or bubble to keep going for a while.
People who don't necessarily understand what it is they are investing in have seen others make a lot of money, and want it. This is happening across the world in a big way.

  • Re. the bold part of your post, with respect is anyone buying tokens to use for something other than to speculate and make money? If so what is it?

I have to quote you twice, because you have nailed it imo:

  • If the platforms weren't successful in the real world with people using them then the tokens would be worthless

This is the crux of it. For your own investments, just be careful, as if you can't find real economic activity underpinning the token or currency, then the value of that token or currency is based upon speculation. Increases in value are solely driven by more people speculating, not more people needing the tokens for something.

It's very hard to guess when the crypto-boom might deflate or collapse (and maybe it never will I can't say for sure), but imo it will once the current rush to get rich quick runs its course, and people want to take the money. When things open up around the world and governments start to take back some of the money they have printed, we could also see big corrections in values (not just in crypto). So there is no doubt money can be made short term in crypto, but I wouldn't put too much into it longer term.


Of course this is just my opinion. Crypto could be here to stay, but unless you can see it actually being used for something other than speculation, tread with care imo.
Click to expand...

I only ever invest money I can afford to lose but I think blockchains in some form will be used for years to come. The thing with technology is that barriers to movement can be huge, if someone gets a goot bulk of customers or features who integrate their own systems into another then generally they tend not to move (at least not easily) so to a point the bigger they get the easier it can be for them to grow.

But for me the key to any investing is to invest in places with good leadership teams, those are the places that historically do well and I don't expect that to change.
 
P.D. said:
I think you're misunderstanding what some crypotos are, there's people on here who know a lot more than me who may say different but most of them are just technology platforms really. Bitcoin was designed as a virtual currency and is just as you describe it and is really heavily outdated now but many of the others are prety advanced technology platforms that use a blockchain to secure the data/transactions. Sure you could buy the tokens and technically send them to someone as payment but that's not how they designed them, instead the currency is needed to put a transaction through the platform - basically used as a transaction fee.

Blockchain has many uses in the real world, I'd imagine if a vaccine passport for example is built then there's a high chance it will be built using a blockchain. In my field (HR) blockchains are already being built to store job qualifcations that can then be accredited once and used if an employee moves job in the future.
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The white paper of BTC describes it as currency but aside from price speculation, the real value seen by the institutional money is it’s use as a store of value.
MSTR, Blackrock, Square...not to mention TSLA all weighing in. Protecting their assets while the money printing goes into overdrive.
 
Hashegotthesackyet? said:
it’s not that fake satoshi.

Hal Finley
Adam Back
Nick Szabo

one of them or all 3.
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Wasn't Finley posting in Spurs News & Views yesterday tea time?

If its an individual, presumably they are very wealthy already. Otherwise, you'd sell some of the coins surely? Something doesn't stack up. Who would leave billions untouched? Maybe they have cashed in billions already? So you're not following Danish's idea that an institution like the CIA set it up? Would be pretty useful to them - considering almost all economic activity using Bitcoin is avoiding lawful (traceable) transfers of money.
 
SpurMeUp said:
Wasn't Finley posting in Spurs News & Views yesterday tea time?

If its an individual, presumably they are very wealthy already. Otherwise, you'd sell some of the coins surely? Something doesn't stack up. Who would leave billions untouched? Maybe they have cashed in billions already? So you're not following Danish's idea that an institution like the CIA set it up? Would be pretty useful to them - considering almost all economic activity using Bitcoin is avoiding lawful (traceable) transfers of money.
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I'm not being funny. But it is the CIA I know this will sound like conspiracy stuff. But it was like the enigma code machine at Bletchley. They had to decide what information they used. But the CIA started it up to track criminals. They also sell it off to pay for some of the stuff they get up to.

I read some really interesting blogs on it a few years ago. Everything adds up to one thing when you take everything into account. It is actually quite clever on their part.
 
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