Interesting... people need to know when to get their money out... if they can... or trade it for goods...while they can....Perhaps I am old fashioned, but this does not seem like something that will last... then again, what currency does?? Oh well... Cheers, RickO
Wall Street likely moving big money from gold and silver to cryptocurrencies. Plus Chinese and Japanese moving some of their local currencies to Bitcoin and Ethereum, those are funds that in the past may have moved into gold and silver. Hence the fall in metals and rise in cryptocurrencies. What is that old saying, "those who fail to adapt............" As I mentioned earlier, nothing wrong with gold and silver, but alot of folks are moving some of their fiat dollars, Yen, euros, chinese yuan, etc., to cryptocurrencies. I dont see any more risks in holding cryptocurrencies versus holding government issued currencies. Also, your bank account with your dollars can be hacked and your dollars electronically moved out of your account, just like your cryptocurrency account can be hacked. Even your gold and silver and dollars under your mattress can disappear by theft, fire, etc. The key in my opinion is diversification. Bitcoin and other cryptocurrencies are just another store of wealth, alternative to fiat money,etc. In this digital age, seems prudent to have a mix of hard assets and digital assets. check out www.coinmarketcap.com for the top traded cryptocurrenices and you will get a sense of the size of this market. many of these will end up worthless, but a few may become very popular and widely held. still quite nascent. These have risen so fast, in fact bitcoin up $300 just in the last week (when is last time gold did that?) that they are due for a big correction. Could be 50% drop soon. who knows. But seems like every drop is quickly bought and new highs are reached. I dont think cryptocurrencies are a passing fad. I hope they dont completely replace traditional stores of value like gold and silver, but I believe they will join gold and silver as stores of value in this digital age. this is 2017, not 1977, we live in a digital world, makes sense that much of the world has confidence in adding digital money to their asset holdings and net worth. hoping for a correction in the cryptocurrencies to add more.
@lseecon... You make good points.... And I am sure digital currency of some type has a future. I do not understand it enough, at this point, to discuss the pro's and con's of the various types... however, it does not seem to me that world governments will allow this to reign above currencies under their control for long... be that hard currency or digital. I favor the wait and see position for the present. Cheers, RickO
@lseecon said:
Wall Street likely moving big money from gold and silver to cryptocurrencies. Plus Chinese and Japanese moving some of their local currencies to Bitcoin and Ethereum
Sorry, no electronic tulip bulbs for me. I like the idea of crypto currencies, but they're basically like penny stocks in terms of investment potential. We only hear about them in mainstream news every once in a while when they're on a brief upward trend. They'll likely have a good little run, followed by a swift crash, then obscurity for another year or two before the next run up.
My question: If bitcoin (or some other blockchain-based system) became the main source of currency in a large economy, say the USA converted nearly completely to this, then: How large does the blockchain get, and does this become seriously impractical?
My hunch, is that if this scheme really turned into the basis of the currency in an economy, that the blockchain would become completely impractical to handle, and that this is a fundamental problem.
Why Bitcoin, Precious Metals Should Be Partners in Crisis Portfolio: Opinion
965 Total views 118 Total shares
Why Bitcoin, Precious Metals Should Be Partners in Crisis Portfolio: Opinion
For the past several years, a hot debate has been taking place in the comment sections of alternative financial media sites. The debate is between those who have embraced cryptocurrency and its ability to protect its owners in tumultuous economic times and those who believe that only precious metals can properly fill this role.
However, a well-rounded crisis portfolio should contain both cryptocurrency and precious metals, and they actually complement each other quite well.
Bitcoin price and financial crises
Gold and silver have thousands of years of history as a safe haven that no other asset class can match but Bitcoin is certainly building up an impressive track record for itself. Bitcoin price went up during the 2013 Cyprus Bail-in, the Russian Ruble Crisis of 2014, the 2015 Greek Crisis and the early 2016 imposition of Chinese capital controls.
In the summer of 2016, Bitcoin had a similar reaction to Brexit and had an even more pronounced reaction to the Indian bank note demonetization and its resulting chaos.
Bitcoin’s latest crisis-driven run-up was assisted by continued Chinese capital controls and general political uncertainty. This short but consistent performance may not make Bitcoin a bona fide safe haven but it does demonstrate capital flight into crypto during times of economic shock will probably continue.
Chart data obtained from bitcoincharts.com
Cyprus Bail-in
Cyprus Bail-in
Russian Ruble Crisis
Russian Ruble Crisis
Greek Crisis
Greek Crisis
Chinese Capital Controls
Chinese Capital Controls
Brexit
Brexit
Indian Demonetization
Indian Demonetization
The total cryptocurrency market cap, according to coinmarketcap.com at the time of this publication, is about 34 bln dollars, which is less than one percent of the value of above-ground precious metals. In turn, the value of above ground precious metals is only about two percent of the size of the total world debt market. This is to say that the cryptocurrency market is very small and thus still has plenty of potential for growth.
How about precious metals?
Over the past several years, the owners of gold and silver have seen losses or very little returns from their assets, whereas the owners of cryptocurrency have enjoyed significant gains. Currently, Bitcoin and other cryptocurrencies lack a futures market, which is a favorite tool for manipulation of the precious metals market.
This doesn’t mean that precious metals don’t have their place. There is a lot to be said for an asset with no counterparty risk that you can retain in your possession.
The owners of precious metals who denounce cryptocurrency fear a government crackdown, technical problems or unknown flaws. For these reasons, they refuse to invest in cryptocurrency. There is also likely some stubbornness and/or sour grapes mixed in with their claims.
However, what precious metal owners should realize is that they are at a significant advantage when investing in cryptocurrency, compared to those who don’t own gold and silver. If the value of cryptocurrency is significantly impacted or somehow wiped out by an unforeseen event, that safe-haven demand will flow somewhere.
If the thesis of cryptocurrency being a safe haven was to be called into question, precious metals would likely be the beneficiary. Considering this, precious metals are a natural hedge for many of the concerns and risks pertaining to cryptocurrency.
The impact of regulations
The most recent government reaction that impacted the cryptocurrency market occurred in China when regulators imposed new regulations on cryptocurrency exchanges that resulted in Bitcoin accounts being frozen. As you can see in the chart below, there was a clear negative reaction to Bitcoin price in response to this intervention but also note that the value of gold moved in the opposite direction.
Chart
Both precious metals and cryptocurrency will likely benefit from the inherent flaws in our debt-based monetary system, but owning one type of asset shouldn’t deter anyone from investing in the other. Precious metals and cryptocurrencies should be partners in a crisis portfolio: cryptocurrency for its potential for significant gains, and gold and silver, as always, as insurance against unforeseen outcomes.
By The Reset
Disclaimer: The author of this story is not a financial adviser and it should not be considered financial advice. The story is the opinion of the author only, to make investment decisions based only on this information, or any single source on the internet is NOT recommended. The author is long silver, Bitcoin, and Ether.
The only refuge in a world where so many who want your money are smarter than you are (and there are ALWAYS people out there who are smarter than you are) is in diversity. I've been practicing that conscientiously forever.
I do have a sense that cryptocurrency is a genuine diversity election. I just wish it weren't so damn complicated.
ETH (Ethereum) is a different beast from BTC (Bitcoin). Think if it as a Web2.0 of crypto-currencies. All indications are currently pointing towards ETH overtaking BTC in market-cap, and eventually in absolute price/coin too. The primary reason for this being the widespread adoption of the Ethereum blockchain by real banks and businesses around the globe, ETH being the "fuel" to transact on that blockchain. As of today, ETH is 0.15BTC, 6 months ago it was approximately 0.01BTC. Since total BTC is capped at 21M, while ETH already has a float of 90M, the market cap of ETH will overtake that of BTC way before the price of each ETH exceeds that of each BTC.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
This will all amount to something sooner or later. It's clearly in its inchoate stages. The point is that transactions can be conducted electronically, anonymously and to a degree capable of inspiring trust--eventually. To doubt it is to say that man will never go more than 30mph, or will fly.
@dpoole said:
This will all amount to something sooner or later. It's clearly in its inchoate stages. The point is that transactions can be conducted electronically, anonymously and to a degree capable of inspiring trust--eventually. To doubt it is to say that man will never go more than 30mph, or will fly.
Any risk in having a wallet full of electronic digits?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Bitcoin is currently at $2843.86 (Coindesk.com quote) but we will have to see how bitcoin fares after the Bitcoin scaling decision gets settled on July 31, 2017.
DISCLAIMER: I am NOT a '70's silver art bar expert but I try my best to play one on the Internet.
Eventually, the bloom will be off the rose, so to speak....and when that day of reckoning arrives, some will have made a lot of money, and many will lose everything invested. Cheers, RickO
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'm glad I bought a little while back. Also purchased Ethereum, Litecoin, NEO, Veritaseum, Pay, Populous, Digibyte.
Made more in the last few months in cryptos than I ever have in gold/silver. But silver is predicted to shoot soon.
Better get on the crypto train before the horn blows.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
Those who understand what blockchain technology can offer can see the potential and see the tides are changing in favor of the people holding cryptocurrency.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
I will sell my cryptos when I start seeing too many metals guys jumping in. For now, most precious metals owners like to laugh at crypto owners and thats a good thing. Like Cohodk in an earlier post.....if he starts to buy cryptos, its time to get out. Good news we are still early in the crypto game. If your neighbors and parents and co-workers start asking about bitcoin and say they are in them, then you are too late and they have probably peaked for a while. As I mentioned in earlier posts, I am a fan of both precious metals and cryptos. Both should be part of a portfolio to hedge against fiat currencies, and as a store of wealth. Good that most on these boards are skeptics. The internet and social media and online retail had lots of skeptics early on. The more skepticism I see about bitcoin, the safer I feel owning them. The time to worry is when everyone starts talking about them in a positive manner, like silver at $50. Hopefully we will get another 40%-50% correction on bitcoin soon so I can add more. Corrections seem to come every 4-6 weeks and they are fast and furious.
Yeah, the "ico craze" is cooling a bit and prices are rising. There are a couple of projected sharp increases and decreases over the next couple of months. Hopefully most of the "crap coins" will be gone by then and the winners will start shining.
For you folks that are not versed in crypto talk, ICO is initial coin offering, much like an IPO in the stock world. "Crap coins" are coins or tokens that are like the .com startups that are like flatulence in the wind, no good basis for business and won't last.
Bitcoin is projected to be $13,800 by the end of Feb 2018. Ethereum and Veritaseum a close second if not overtaken Bitcoin by then.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
99% of the cryptos and the new tokens issued thru ICOS will be worthless. Just like most of the early internet companies that become worthless. Key is choosing the survivors. Easier said than done.
@guitarwes said:
Those who understand what blockchain technology can offer can see the potential and see the tides are changing in favor of the people holding cryptocurrency.
This I do not understand. Blockchain technology can only make so many bitcoins. There is a finite number. At some point bitcoins are not able to be used due to their high cost. Makes no sense as to how the "little people" can use this currency.
bob
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
Initially it was my understanding that all people can participate in Bitcoin because of its open sourced nature, ie anyone can downloaD the wallet software and run it on Thier personal computer.
Also
1Bitcoin can be represented as 1.00000000 , being a full unit with 8 decimal places so fractions can be bought or used according to one's own means.
Yes bitcoins may have a finite number of coins to be produced.. however the blockchain itself does not just stop when the last bitcoin has been created. This is where a pure fee structure is said to take over for the miners to have incentives to continue to confirm blocks.
Also, bitcoin is not the only blockchain in town... The technology has been replicated, reproduced, copied, changed, and altered... At last check, I hear there are over 700 Crypto-Currencies incorporating blockchain tech, many of which to be leery of, but also a great deal of which to marvel at the ingenuity of.
You gotta admire people that, instead of complaining about some archaic system of settlement all the while participating and taking full advantage of... Are on the cutting edge of a new technology aimed to bring the power of settlement to users
Unfortunately I tend to ramble on this topic, so I guess I'll ramble on.. sing my song...
Comments
Bitcoin: $1553
Litecoin: $20 (33% jump today)
Ethereum: $77
http://cryptocurrency.credio.com/
Wow
Interesting... people need to know when to get their money out... if they can... or trade it for goods...while they can....Perhaps I am old fashioned, but this does not seem like something that will last... then again, what currency does?? Oh well... Cheers, RickO
That. In a nutshell.
My YouTube Channel
Wall Street likely moving big money from gold and silver to cryptocurrencies. Plus Chinese and Japanese moving some of their local currencies to Bitcoin and Ethereum, those are funds that in the past may have moved into gold and silver. Hence the fall in metals and rise in cryptocurrencies. What is that old saying, "those who fail to adapt............" As I mentioned earlier, nothing wrong with gold and silver, but alot of folks are moving some of their fiat dollars, Yen, euros, chinese yuan, etc., to cryptocurrencies. I dont see any more risks in holding cryptocurrencies versus holding government issued currencies. Also, your bank account with your dollars can be hacked and your dollars electronically moved out of your account, just like your cryptocurrency account can be hacked. Even your gold and silver and dollars under your mattress can disappear by theft, fire, etc. The key in my opinion is diversification. Bitcoin and other cryptocurrencies are just another store of wealth, alternative to fiat money,etc. In this digital age, seems prudent to have a mix of hard assets and digital assets. check out www.coinmarketcap.com for the top traded cryptocurrenices and you will get a sense of the size of this market. many of these will end up worthless, but a few may become very popular and widely held. still quite nascent. These have risen so fast, in fact bitcoin up $300 just in the last week (when is last time gold did that?) that they are due for a big correction. Could be 50% drop soon. who knows. But seems like every drop is quickly bought and new highs are reached. I dont think cryptocurrencies are a passing fad. I hope they dont completely replace traditional stores of value like gold and silver, but I believe they will join gold and silver as stores of value in this digital age. this is 2017, not 1977, we live in a digital world, makes sense that much of the world has confidence in adding digital money to their asset holdings and net worth. hoping for a correction in the cryptocurrencies to add more.
@lseecon... You make good points.... And I am sure digital currency of some type has a future. I do not understand it enough, at this point, to discuss the pro's and con's of the various types... however, it does not seem to me that world governments will allow this to reign above currencies under their control for long... be that hard currency or digital. I favor the wait and see position for the present. Cheers, RickO
LMAO!!!
Knowledge is the enemy of fear
Sorry, no electronic tulip bulbs for me. I like the idea of crypto currencies, but they're basically like penny stocks in terms of investment potential. We only hear about them in mainstream news every once in a while when they're on a brief upward trend. They'll likely have a good little run, followed by a swift crash, then obscurity for another year or two before the next run up.
While it is possible for this to happen, that is why if you have a serious amount of bitcoins, you should have a "cold wallet" that is not digital.
https://en.bitcoin.it/wiki/Cold_storage
Let me know if you old dogs have any questions
This old dog has a lot of questions... however, will just let things marinate a while as I read more about this whole issue. Cheers, RickO
My question: If bitcoin (or some other blockchain-based system) became the main source of currency in a large economy, say the USA converted nearly completely to this, then: How large does the blockchain get, and does this become seriously impractical?
My hunch, is that if this scheme really turned into the basis of the currency in an economy, that the blockchain would become completely impractical to handle, and that this is a fundamental problem.
thought some of you old timers might enjoy this article just posted on one of leading cryptocurrency news websites
https://cointelegraph.com/news/why-bitcoin-precious-metals-should-be-partners-in-crisis-portfolio-opinion
Why Bitcoin, Precious Metals Should Be Partners in Crisis Portfolio: Opinion
965 Total views 118 Total shares
Why Bitcoin, Precious Metals Should Be Partners in Crisis Portfolio: Opinion
For the past several years, a hot debate has been taking place in the comment sections of alternative financial media sites. The debate is between those who have embraced cryptocurrency and its ability to protect its owners in tumultuous economic times and those who believe that only precious metals can properly fill this role.
However, a well-rounded crisis portfolio should contain both cryptocurrency and precious metals, and they actually complement each other quite well.
Bitcoin price and financial crises
Gold and silver have thousands of years of history as a safe haven that no other asset class can match but Bitcoin is certainly building up an impressive track record for itself. Bitcoin price went up during the 2013 Cyprus Bail-in, the Russian Ruble Crisis of 2014, the 2015 Greek Crisis and the early 2016 imposition of Chinese capital controls.
In the summer of 2016, Bitcoin had a similar reaction to Brexit and had an even more pronounced reaction to the Indian bank note demonetization and its resulting chaos.
Bitcoin’s latest crisis-driven run-up was assisted by continued Chinese capital controls and general political uncertainty. This short but consistent performance may not make Bitcoin a bona fide safe haven but it does demonstrate capital flight into crypto during times of economic shock will probably continue.
Chart data obtained from bitcoincharts.com
Cyprus Bail-in
Russian Ruble Crisis
Greek Crisis
Chinese Capital Controls
Brexit
Indian Demonetization
The total cryptocurrency market cap, according to coinmarketcap.com at the time of this publication, is about 34 bln dollars, which is less than one percent of the value of above-ground precious metals. In turn, the value of above ground precious metals is only about two percent of the size of the total world debt market. This is to say that the cryptocurrency market is very small and thus still has plenty of potential for growth.
How about precious metals?
Over the past several years, the owners of gold and silver have seen losses or very little returns from their assets, whereas the owners of cryptocurrency have enjoyed significant gains. Currently, Bitcoin and other cryptocurrencies lack a futures market, which is a favorite tool for manipulation of the precious metals market.
This doesn’t mean that precious metals don’t have their place. There is a lot to be said for an asset with no counterparty risk that you can retain in your possession.
The owners of precious metals who denounce cryptocurrency fear a government crackdown, technical problems or unknown flaws. For these reasons, they refuse to invest in cryptocurrency. There is also likely some stubbornness and/or sour grapes mixed in with their claims.
However, what precious metal owners should realize is that they are at a significant advantage when investing in cryptocurrency, compared to those who don’t own gold and silver. If the value of cryptocurrency is significantly impacted or somehow wiped out by an unforeseen event, that safe-haven demand will flow somewhere.
If the thesis of cryptocurrency being a safe haven was to be called into question, precious metals would likely be the beneficiary. Considering this, precious metals are a natural hedge for many of the concerns and risks pertaining to cryptocurrency.
The impact of regulations
The most recent government reaction that impacted the cryptocurrency market occurred in China when regulators imposed new regulations on cryptocurrency exchanges that resulted in Bitcoin accounts being frozen. As you can see in the chart below, there was a clear negative reaction to Bitcoin price in response to this intervention but also note that the value of gold moved in the opposite direction.
Chart
Both precious metals and cryptocurrency will likely benefit from the inherent flaws in our debt-based monetary system, but owning one type of asset shouldn’t deter anyone from investing in the other. Precious metals and cryptocurrencies should be partners in a crisis portfolio: cryptocurrency for its potential for significant gains, and gold and silver, as always, as insurance against unforeseen outcomes.
By The Reset
Disclaimer: The author of this story is not a financial adviser and it should not be considered financial advice. The story is the opinion of the author only, to make investment decisions based only on this information, or any single source on the internet is NOT recommended. The author is long silver, Bitcoin, and Ether.
Keeps going up up up...
Until it either disappears or goes down, down, down....Cheers, RickO
The only refuge in a world where so many who want your money are smarter than you are (and there are ALWAYS people out there who are smarter than you are) is in diversity. I've been practicing that conscientiously forever.
I do have a sense that cryptocurrency is a genuine diversity election. I just wish it weren't so damn complicated.
Here's a warning parable for coin collectors...
Bitcoin went over $3,000 this weekend! Hanging around $2,800 right now and up over 300% since 2017...
I predict the bubble starts to pop right about...
ETH (Ethereum) is a different beast from BTC (Bitcoin). Think if it as a Web2.0 of crypto-currencies. All indications are currently pointing towards ETH overtaking BTC in market-cap, and eventually in absolute price/coin too. The primary reason for this being the widespread adoption of the Ethereum blockchain by real banks and businesses around the globe, ETH being the "fuel" to transact on that blockchain. As of today, ETH is 0.15BTC, 6 months ago it was approximately 0.01BTC. Since total BTC is capped at 21M, while ETH already has a float of 90M, the market cap of ETH will overtake that of BTC way before the price of each ETH exceeds that of each BTC.
Putin Meets With Ethereum Founder To Create National Virtual Currency
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
That pretty much confirms this as illegitimate nonsense.
Knowledge is the enemy of fear
Bingo.
hugo says bitcoins lack a shepard
http://plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=309
this ain't gonna end well
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Yellen's congressional testimony today
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
That's pretty funny!
Here's a warning parable for coin collectors...
Any crypto currency will exist until serious ones take it seriously for them, but for now it's just pampering.
Why are Bit Coins Gold plated colored? hmmmm
100% Positive BST transactions
Here's a new one to keep an eye on:
BitReturn
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Approx. $40,000,000 worth of Ethereum hacked and stolen:
http://www.kitco.com/news/2017-07-20/Hackers-Steal-Staggering-32-Million-In-Ethereum.html
Yep... good reason to not be in that game.... I have no doubt there is more to come.... always gets worse before it gets better. Cheers, RickO
This will all amount to something sooner or later. It's clearly in its inchoate stages. The point is that transactions can be conducted electronically, anonymously and to a degree capable of inspiring trust--eventually. To doubt it is to say that man will never go more than 30mph, or will fly.
Here's a warning parable for coin collectors...
Any risk in having a wallet full of electronic digits?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Bitcoin is currently at $2843.86 (Coindesk.com quote) but we will have to see how bitcoin fares after the Bitcoin scaling decision gets settled on July 31, 2017.
Buy and hold.... in a block chain on a computer. Go long on faith.
Eventually, the bloom will be off the rose, so to speak....and when that day of reckoning arrives, some will have made a lot of money, and many will lose everything invested. Cheers, RickO
$3200+
https://cnbc.com/2017/08/05/bitcoin-surges-above-3k-to-record-more-than-tripling-this-year.html
My Adolph A. Weinman signature
"tiptoe, through the tulips. . ."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'm glad I bought a little while back. Also purchased Ethereum, Litecoin, NEO, Veritaseum, Pay, Populous, Digibyte.
Made more in the last few months in cryptos than I ever have in gold/silver. But silver is predicted to shoot soon.
Better get on the crypto train before the horn blows.
Too many positive BST transactions with too many members to list.
Those who understand what blockchain technology can offer can see the potential and see the tides are changing in favor of the people holding cryptocurrency.
Too many positive BST transactions with too many members to list.
I will sell my cryptos when I start seeing too many metals guys jumping in. For now, most precious metals owners like to laugh at crypto owners and thats a good thing. Like Cohodk in an earlier post.....if he starts to buy cryptos, its time to get out. Good news we are still early in the crypto game. If your neighbors and parents and co-workers start asking about bitcoin and say they are in them, then you are too late and they have probably peaked for a while. As I mentioned in earlier posts, I am a fan of both precious metals and cryptos. Both should be part of a portfolio to hedge against fiat currencies, and as a store of wealth. Good that most on these boards are skeptics. The internet and social media and online retail had lots of skeptics early on. The more skepticism I see about bitcoin, the safer I feel owning them. The time to worry is when everyone starts talking about them in a positive manner, like silver at $50. Hopefully we will get another 40%-50% correction on bitcoin soon so I can add more. Corrections seem to come every 4-6 weeks and they are fast and furious.
Yeah, the "ico craze" is cooling a bit and prices are rising. There are a couple of projected sharp increases and decreases over the next couple of months. Hopefully most of the "crap coins" will be gone by then and the winners will start shining.
For you folks that are not versed in crypto talk, ICO is initial coin offering, much like an IPO in the stock world. "Crap coins" are coins or tokens that are like the .com startups that are like flatulence in the wind, no good basis for business and won't last.
Bitcoin is projected to be $13,800 by the end of Feb 2018. Ethereum and Veritaseum a close second if not overtaken Bitcoin by then.
Too many positive BST transactions with too many members to list.
99% of the cryptos and the new tokens issued thru ICOS will be worthless. Just like most of the early internet companies that become worthless. Key is choosing the survivors. Easier said than done.
This I do not understand. Blockchain technology can only make so many bitcoins. There is a finite number. At some point bitcoins are not able to be used due to their high cost. Makes no sense as to how the "little people" can use this currency.
bob
Revisiting this over the years
Wow even a bitcoin thread can morphe into a CAC thread. It's spreading like the plague. You have been warned
eBay ID-bruceshort978
Successful BST:here and ATS, bumanchu, wdrob, hashtag, KeeNoooo, mikej61, Yonico, Meltdown, BAJJERFAN, Excaliber, lordmarcovan, cucamongacoin, robkool, bradyc, tonedcointrader, mumu, Windycity, astrotrain, tizofthe, overdate, rwyarmch, mkman123, Timbuk3,GBurger717, airplanenut, coinkid855 ,illini420, michaeldixon, Weiss, Morpheus, Deepcoin, Collectorcoins, AUandAG, D.Schwager.
Initially it was my understanding that all people can participate in Bitcoin because of its open sourced nature, ie anyone can downloaD the wallet software and run it on Thier personal computer.
Also
1Bitcoin can be represented as 1.00000000 , being a full unit with 8 decimal places so fractions can be bought or used according to one's own means.
Yes bitcoins may have a finite number of coins to be produced.. however the blockchain itself does not just stop when the last bitcoin has been created. This is where a pure fee structure is said to take over for the miners to have incentives to continue to confirm blocks.
Also, bitcoin is not the only blockchain in town... The technology has been replicated, reproduced, copied, changed, and altered... At last check, I hear there are over 700 Crypto-Currencies incorporating blockchain tech, many of which to be leery of, but also a great deal of which to marvel at the ingenuity of.
You gotta admire people that, instead of complaining about some archaic system of settlement all the while participating and taking full advantage of... Are on the cutting edge of a new technology aimed to bring the power of settlement to users
Unfortunately I tend to ramble on this topic, so I guess I'll ramble on.. sing my song...
It's all about what the people want...
You have been warned
I should have trademarked that.
Knowledge is the enemy of fear
Ponzi
Bitcoin = a sucker's bet.
Just my eversohumble opinion.
Cheers
Bob
BTC = $3,500+
Just the facts.
Cheers
Lan
Successful transactions with Schmitz7, Bigbuck1975, chumley, CCHunter, Smittys, Gerard, Tookybandit, MorganMan94, LogPotato, coinlieutenant, GoldCoin98, pcgs69, Kccoin, ajaan, JBN, BLee23,....