[Finance] The cryptocurrency (Bitcoin etc) thread

[dsr-burnley]

I'd really not bother arguing with naysayers and cryptocurrency critics. They were probably the same people saying the Internet wouldn't change the world in the late 90s and that smart phones wouldn't become the most important personal tool in our lives.

I suspect most people would still rather give up their smart phone than their car, so that's one up to the naysayers.

 

[beorhthelm]

a comment on the video, the points made are disconnected from the project, which is providing a secure network for your data. data about you, on Facebook, Google, Amazon etc is not your data. it is their data they collected about you, and they'll still collect it when you use those services through a private network.

 

[sydney]

a comment on the video, the points made are disconnected from the project, which is providing a secure network for your data. data about you, on Facebook, Google, Amazon etc is not your data. it is their data they collected about you, and they'll still collect it when you use those services through a private network.

maaaate ,you've only gotta buy an online ticket to a gig these days and you have to bare your arse , this is the future . you are your data ......

 

[sydney]

I suspect most people would still rather give up their smart phone than their car, so that's one up to the naysayers.

only time will tell , more and more banks and and big biz buying in and everyone i know who's into it is convinced its not even started yet , i personally have doubts about giving ALL my personal data to one entity on the web is a bit of a worry , as said previously I've got quite a few mates who have made stupid money out of btc.....a brickie from Hayes for instance who has been following since the silk road days ....he has an insane amount of money backed up but as soon as he pulls it out he pays 50% tax unless he puts it straight into his super to earn 10% interest .....so thats what gets me , it's pretend money until you've got it in your hand and then they will take half of it off you .....meanwhile the whole thing could collapse and everyone loses the farm , I've read up on gold standard , fiats and bitcoin standard and while it makes sense its all in the ether , average stock market gain in Aus over the last year is about 30% , btc is 100% and some alt coins are through the roof.....head **** basically.

 

[CheeseRolls]

a comment on the video, the points made are disconnected from the project, which is providing a secure network for your data. data about you, on Facebook, Google, Amazon etc is not your data. it is their data they collected about you, and they'll still collect it when you use those services through a private network.

[MENTION=1320]Notters[/MENTION] Greed is easily winning out over altriusm in this environment, so no there will not be one solution to rule them all. Thousands may consolidate down to hundreds, but it is simple to start something and harder to sustain.

I pointed you at the solid project, which is backed by Tim Berners Lee and they are doing some really interesting things in this space. [MENTION=599]beorhthelm[/MENTION] there is plenty of data you don't want to share with any of the social harvesters.

1 Medical Records? - Wouldn't it be good if you could keep all your information digitally and then simply decide which medical professionals were allowed to see it and for how long?

2 Intellectual Property? - This is within their scope anything you create you decide who can use it and on what basis. Compared to relying upon International IP Law, this could be massive. I would love it, if I could pay money to the brilliant sports writer, whilst not contributing funds to the meglomaniac news proprietor.

In this model you own and pay for your pod, you then right smart contracts to provide access and receive payment. I wouldn't be investing any money in any of these projects, but I would be very happy if one or more of them (except Apple), succeeded.

 

[KeegansHairPiece]

I'd really not bother arguing with naysayers and cryptocurrency critics. They were probably the same people saying the Internet wouldn't change the world in the late 90s and that smart phones wouldn't become the most important personal tool in our lives.

Mainstream adoption is still about 5 years away but its inevitable. If you seroously educate yourself and as has been said make sure you don't invest more than you are prepared to lose life changing money is there to be made.

Nothing in technology is inevitable as it moves on so fast. There are already alternatives to blockchain that maybe better, more secure and sustainable. Quantum computing will be a leap on in 5 years, and already there are theoretical threats to blockchain security. The value of crypto is the public key, break that and it's a dead duck. It's theoretical of course, but it does question the notion of what is inevitable.

There is definitely money to be made, because it is value based upon what something could be. It's value at present is that everyone wants a piece because money has been made. I posted before financial institutions getting involved is more like a kiss of death than an endorsement. Whereas the rise of certain cryptos was based on those doing their research picking up on what made that currency attractive, we now have idiots wading in with huge great boots not knowing what they are doing lumping money, shorting options etc. etc. I'll agree with what you've said though, don't invest anything that hurts if you lost it, and enjoy the ride!

 

[beorhthelm]

[MENTION=599]beorhthelm[/MENTION] there is plenty of data you don't want to share with any of the social harvesters.

1 Medical Records? - Wouldn't it be good if you could keep all your information digitally and then simply decide which medical professionals were allowed to see it and for how long?

sounds compelling and a good example of what i mean. i dont own or control my medical data, NHS does. its their data. and similar pattern applies in most countries, the healthcare provider holds the data and controls access. this is often the case, "your" data is data about you generatetd and held by others, which you never see or have access to, let alone control. there's possibly benefits to me holding it instead, thats not a technical change, its processes in institutions that need to change.

2 Intellectual Property? - This is within their scope anything you create you decide who can use it and on what basis. Compared to relying upon International IP Law, this could be massive. I would love it, if I could pay money to the brilliant sports writer, whilst not contributing funds to the meglomaniac news proprietor.

this is perfect use for blockchain, micropayments was conceived before bitcoin (about as old as the web) and crypto solves problems. still waiting, not sure why. suspect because we go to news proprietors to aggregate and curate information for us. something for the business idea thread.

 

[Albion Dan]

I suspect most people would still rather give up their smart phone than their car, so that's one up to the naysayers.

In 30 years highly unlikely anyone will own let alone drive a car.

 

[Albion Dan]

only time will tell , more and more banks and and big biz buying in and everyone i know who's into it is convinced its not even started yet , i personally have doubts about giving ALL my personal data to one entity on the web is a bit of a worry , as said previously I've got quite a few mates who have made stupid money out of btc.....a brickie from Hayes for instance who has been following since the silk road days ....he has an insane amount of money backed up but as soon as he pulls it out he pays 50% tax unless he puts it straight into his super to earn 10% interest .....so thats what gets me , it's pretend money until you've got it in your hand and then they will take half of it off you .....meanwhile the whole thing could collapse and everyone loses the farm , I've read up on gold standard , fiats and bitcoin standard and while it makes sense its all in the ether , average stock market gain in Aus over the last year is about 30% , btc is 100% and some alt coins are through the roof.....head **** basically.

Why will they take half? Crypto is taxed as capital gains so 20%. To be honest you can stack in a stable coin like USDC anyway and only take it when you need it. I’ve invested in COTI which is developing a crypto bank, with debit cards coming and intends to rival pay pal allowing payments in both crypto and fiat. It is 100s of time faster that PayPal and can handle 1000’s more transactions per second. The issue with crypto payment for goods at the moment is that is is also liable for tax.

 

[Albion Dan]

Nothing in technology is inevitable as it moves on so fast. There are already alternatives to blockchain that maybe better, more secure and sustainable. Quantum computing will be a leap on in 5 years, and already there are theoretical threats to blockchain security. The value of crypto is the public key, break that and it's a dead duck. It's theoretical of course, but it does question the notion of what is inevitable.

!

The theories and concerns around blockchain security pale into insignificance when you consider what those same threats (quantum computing) will do to existing banking and security protocols keeping all our current money and data safe. They’ll be toast.

Have seen some really interesting projects around cryptography that are preparing for the next level of security required.

 

[KeegansHairPiece]

The theories and concerns around blockchain security pale into insignificance when you consider what those same threats (quantum computing) will do to existing banking and security protocols keeping all our current money and data safe. They’ll be toast.

Have seen some really interesting projects around cryptography that are preparing for the next level of security required.

I'm not disputing that the development is 'likely' or 'probable', just that it isn't inevitable.

 

[CheeseRolls]

sounds compelling and a good example of what i mean. i dont own or control my medical data, NHS does. its their data. and similar pattern applies in most countries, the healthcare provider holds the data and controls access. this is often the case, "your" data is data about you generatetd and held by others, which you never see or have access to, let alone control. there's possibly benefits to me holding it instead, thats not a technical change, its processes in institutions that need to change.

this is perfect use for blockchain, micropayments was conceived before bitcoin (about as old as the web) and crypto solves problems. still waiting, not sure why. suspect because we go to news proprietors to aggregate and curate information for us. something for the business idea thread.

Most of us have loads of health data we don't share with the NHS. Some of it would be useful for diagnosis if the right people could get it quickly and concisely. Some of it could be far more efficient that existing screening efforts.

I agree smart contracts and micro payments are largely fixed. IP is much, much harder to assert without a team of international lawyers. There are plenty more examples.

 

[VICENTE]

Absolute mug's game....

lol

 

[Berty23]

Railways i understand and that ultimately while a lot of people started few finished with profits because they picked the wrong route or run out of funds or were bought out , all very tangible though. Stocks and shares I understand the basics. Real currency I understand is all about trust. Bit coin though seems to be a combination of all 3 scenarios.

So in layman's terms has anyone made real money that i can spend on amazon if so what is the return rate on the investment? It sort of comes across like a computer game rather than real life.

Note - isn't the mining pretty damaging to the environment

How about being able to spend crypto on Amazon? It is coming. https://shopping.io/

 

[KeegansHairPiece]

How about being able to spend crypto on Amazon? It is coming. https://shopping.io/

That is just going to be a very expensive way of turning your crypto into cash, selling the idea of convenience, while they rake in the crypto.

 

[Albion Dan]

PayPal launching payment on crypto.

Mainstream adoption is coming....

 

[Berty23]

That is just going to be a very expensive way of turning your crypto into cash, selling the idea of convenience, while they rake in the crypto.

I don’t doubt that for a second in the first instance. The exchange rate will be rubbish. But it is the first step. Things will get cheaper as they get more common.

I listened to a fascinating podcast last week about blockchain and digital assets. I spoke to my 12 year old about it and he gets it. New skins on fortnite. He got offered almost a hundred quid for something on rocket league. It is nuts. Gaming is likely to lead the way - if you have kids then encourage them to understand coding and then keep hold of their coattails or we will end up like my parents’ generation who are scared of technology!

This is worth a listen if you are interested in this stuff.

https://open.spotify.com/episode/2x93pgH3CuvuwjqGglWznL?si=UNgq-MSYTT6j6fnxeA5oLQ

 

[KeegansHairPiece]

I don’t doubt that for a second in the first instance. The exchange rate will be rubbish. But it is the first step. Things will get cheaper as they get more common.

I listened to a fascinating podcast last week about blockchain and digital assets. I spoke to my 12 year old about it and he gets it. New skins on fortnite. He got offered almost a hundred quid for something on rocket league. It is nuts. Gaming is likely to lead the way - if you have kids then encourage them to understand coding and then keep hold of their coattails or we will end up like my parents’ generation who are scared of technology!

This is worth a listen if you are interested in this stuff.

https://open.spotify.com/episode/2x93pgH3CuvuwjqGglWznL?si=UNgq-MSYTT6j6fnxeA5oLQ

Yeah agreed. My 14 yr old is getting into coding and using Unity to try to design and build his own game. Massively encouraging him and trying to help because it is hard and frustrating and easy for a teenager to give up on. Been quite impressed with what’s he’s picked up so far, seems to know a bit of python and uses textedit on my Mac too. I have said to him it really will be a gateway to everything if he gets a good grasp of it.

 

[beorhthelm]

surprised news from yesturday was missed, that Visa ran a test settlement of USDC on ETH.

 

[dazzer6666]

What’s going on with TRON/TRX ? Over 40% up today........