Just be aware - Crypto Currency

[Puwa]

Background reading:

 

https://www.amazon.com/Age-Cryptocurrency-Blockchain-Challenging-Economic/dp/1250081556/ref=sr_1_1_sspa?ie=UTF8&qid=1526688434&sr=8-1-spons&keywords=the+age+of+cryptocurrency&psc=1

[Neeranam]

3 hours ago, Thailand said:

Based on that recommendation I guess everybody will be piling their pensions in to Ripple.

Well 1 just took 100,000  and bought 4500 XRP(ripple).

I will tell you how much it is worth on Nov 30.

I also bought 20,000 ADA(cardano) for 160,000 baht. I expect this to be at near x5 by the same date, on 6 months..

[IsaanFam]

To the people who say it is a "scam". It is not, every item in the world has a value because of how the society values it. This is why we pay 2 million THB for a Mercedes or BMW and give our baby daughters a kiss for a weird ugly painting.

 

Yes, bitcoin is a risky investment, but what is not? And, bitcoin and most cryptocurrencies are CURRENCIES and not INVESTMENTS. Who says, "I am an investor, I bought Thai Baht"? Yes, indeed, currently it is seen as an investment, but it must not be. 

 

And if you take it as an investment, it is not riskier than any other investment. Fact. Just an example: I have read so many times in this forum and others, to invest in stock market, like buying MCS (Thailand) because they pay 9% dividend. Guess what, I bought MCS stock for 10,000 THB and now, 3 month later, it is worth 5,000 THB.

 

What you seem to not understand what bitcoin or crypto currency really is: It is a currency, not an investment. A currency of the people, not of the banks or politicians, this is why they try to block it, to ban, to demolish it. But they cannot, it is indestructible. 

 

 

 

 

 

 

[IsaanFam]

And for people looking for advises: The only cryptocurrencies which can succeed long term is bitcoin and monero because they used as what they are intended to be: currencies. From my pov, these are the only two which can be called cryptoCURRENCY, the others are just cryptoCASINO where you might pick a winner or just lose all.

[Thailand]

1 hour ago, IsaanFam said:

And for people looking for advises: The only cryptocurrencies which can succeed long term is bitcoin and monero because they used as what they are intended to be: currencies. From my pov, these are the only two which can be called cryptoCURRENCY, the others are just cryptoCASINO where you might pick a winner or just lose all.

Isn't Monero often referred to as the currency of choice for online criminals?

[IsaanFam]

2 hours ago, Thailand said:

Isn't Monero often referred to as the currency of choice for online criminals?

 

By whom is it referred to that. By exactly those individuals who don't want to give its citizens freedom and fear their middlemen lifesucking business (banks) will be obsolete in the near future. 

 

So because criminals are using something we normal people cannot use it? Why are we using the Thai Baht or USD?

 

And last, this is exactly why I stated that Monero is there to stay, because it is used as a currency.

[XGM]

 

7 hours ago, IsaanFam said:

The only cryptocurrencies which can succeed long term is bitcoin and monero because they used as what they are intended to be: currencies

Bitcoin was created in 2008. Today, a decade later, over 99% of the people who own any Bitcoin are not using is on a daily, or weekly, or even monthly basis as a currency (that pays for goods or services). They are "hodling". In other words, speculating. Whether it is for short or long term, doesn't matter. 

 

If Bitcoin was to be adopted as a currency, one would think it would be accepted in what, 20% of the businesses after 10 years? 10% of the businesses? at least 1% of the businesses? almost nobody accepts bitcoin as a payment option. And it's not like it didn't get enough exposure in the media. Actually, many companies that wanted to gain PR by adopting bitcoin are just reversing those decisions. 

 

And if the list of businesses accepting bitcoin isn't very long, the list of those accepting Monero is almost non-existent.

Edited May 19, 2018 by XGM

[IsaanFam]

1 minute ago, XGM said:

 

Bitcoin was created in 2008. Today, a decade later, over 99% of the people who own any Bitcoin are not using is on a daily, or weekly, or even monthly basis as a currency (that pays for goods or services). They are "hodling". In other words, speculating. Whether it is for short or long term, doesn't matter. 

 

If Bitcoin was to be adopted as a currency, one would think it would be accepted in what, 20% of the businesses after 10 years? 10% of the businesses? at least 1% of the businesses? almost nobody accepts bitcoin as a payment option. And it's not like it didn't get enough exposure in the media. Actually, many companies that wanted to gain PR by adopting bitcoin are just reversing those decisions. 

 

And if the list of businesses accepting bitcoin is very large, the list of those accepting Monero is almost non-existent.

 

Before you are making "99%" assumptions, you should check the current transfers here https://blockchain.info/charts - today about 200,000 transactions. The fact that people use bitcoin as investment doesn't change the other fact, that bitcoin is a currency.

 

Or do you want to say, bitcoin is not a currency because it is not widely accepted?  What about the Thai Baht, where exactly is the THB accepted. And, well, yes, you could say that if you think the right to make up a currency is exclusively in the hands of the government.

 

Bitcoin is a revolution in currencies, because it is a global currency. It is a revolution, because it is not owned or controlled centrally (miners tried and failed multiple times). It does not care from what nation you are or where you are located.  Yes, this fact is hard to understand, because we cannot believe there is a such a thing without borders.

 

And the technology of bitcoin allows non-trusted exchange of information as it is confirmed by multiple third parties (this itself is a revolution, especially for the AI future, because it allows AI in communication with other AI to come to a conclusion based on a decision without third party interference, ie without a human writing a static code telling the AI what to do). Or simpler, an election with cannot be subject to fraud. Thank you bitcoin.

 

Bitcoin will stay forever and Monero is just the privacy edition of Bitcoin and therefore will have it's place as privacy in financial matters are always sought after, regardless of the intention in the trade.

 

.

 

[XGM]

Edited May 19, 2018 by XGM

[lannarebirth]

6 hours ago, IsaanFam said:

 

By whom is it referred to that. By exactly those individuals who don't want to give its citizens freedom and fear their middlemen lifesucking business (banks) will be obsolete in the near future. 

 

So because criminals are using something we normal people cannot use it? Why are we using the Thai Baht or USD?

 

And last, this is exactly why I stated that Monero is there to stay, because it is used as a currency.

 

Which crypto currencies are accepted by by which revenue departments as payment for taxes owed?

[IsaanFam]

1 minute ago, lannarebirth said:

 

Which crypto currencies are accepted by by which revenue departments as payment for taxes owed?

 

Let me try to ask you a question on the same level of communication: Why didn't we fly to the moon first before we knew about how to make fire thousands of years ago?

[lannarebirth]

1 minute ago, IsaanFam said:

 

Let me try to ask you a question on the same level of communication: Why didn't we fly to the moon first before we knew about how to make fire thousands of years ago?

So, no government will accept it as payment for debts owes?  OK, how about this. Can I pay my cable or electric bill with it? 

[IsaanFam]

Just now, lannarebirth said:

So, no government will accept it as payment for debts owes?  OK, how about this. Can I pay my cable or electric bill with it? 

 

So, no answer why we didn't fly to the moon first? Let me help you: It is a a progress of society. A revolution like bitcoin and the blockchain technology are a progress and as it is a revolution giving currency in the hands of people, away from centralized controlling agencies and of course these agency and their ties fight against it.

 

But as I truly believe your questions are a matter of interest, I answer it: Yes, if you own bitcoin you would be able to pay just everything you want, as of today. 

[Chivas]

On 17/05/2018 at 1:45 PM, worgeordie said:

To me its seems the people that are really pushing Crypto

are the ones that own some,and would like to see them

increase in value,like all scams really.

regards worgeordie

course it is, its a classsic pump and dump and then short it all the way back down again

 

[lannarebirth]

13 minutes ago, Chivas said:

course it is, its a classsic pump and dump and then short it all the way back down again

 

A good investment is something that you are happy to hold, not something that goes up in value because you must convince others that they should hold it too.

[Trujillo]

Most of the people posting here have no real clue what crypto actually is. That's not taking the piss out of you guys, but stating the fact that you need to disregard what you read in the mainstream media and start looking at what the people who are actually in the know say; those who work in crypto every day -- from mining to trading to owning masternodes -- to see what is really going on. 

 

"...these basically unregulated waters..."

 

Uh, that's part of the whole point -- we are trying to get away from regulations. 

 

"Anyone wishing to dabble should have a look at a trading site..."

 

Ha...yes, if you want to add another layer of fees for your trades.

 

"Bought some more ripple a month ago, it's going to be x 10 at least by the end of November."

 

Oh boy....you are aware that Ripple as a company and the XRP token are very different, right?  And I guess you know that the company has in the past falsified claims regarding XRP’s properties to increase its value.

 

I'd like to know what you base this 10x prediction on, since I bought 8,000 XRP when they were 17 cents. Shall I start looking at colors for the Lambo? 

 

I don't know how someone with a laptop could be scamming someone but I guess it's possible. Or it could have been that he was trying to show his grandparents how his crypto holdings (or mining) actually works. 

 

As for Bitcoin, my guess is that it will not survive the long term as a functional "currency." Transfer times are far too long (LTC beats the ___ out of BTC for that, for example, as does BCH) and the fees are far too high. There are other technical issues not relevant here as well. 

 

Think of Netscape or Ask.com....or AOL...or Firefox....at one time or another we thought these would be the leaders for a very long time. We were wrong, and I think while BTC will continue to be traded as a commodity in itself, another coin/token will surface that actually meets the criteria for real world usage. 

It may be something that already exists or it might be something yet to be issued. Time will tell. 

 

Frankly, I'm more interested to hear what people who are mining have to say. 

 

 

 

[Chivas]

15 hours ago, lannarebirth said:

A good investment is something that you are happy to hold, not something that goes up in value because you must convince others that they should hold it too.

Whats that got to do with my comment ??

Fella in pattaya is ramping incessantly all the coins unaware hes being watched  classic pump and dump tactics

[dbrenn]

Conmen will use any poorly understood buzzword to extract money from gullible victims. Been that way since money was invented.

[IsaanFam]

2 hours ago, dbrenn said:

Conmen will use any poorly understood buzzword to extract money from gullible victims. Been that way since money was invented.

 

Yes, conmen do scam always so be aware, if you want to invest in bitcoin you do not need a middle men. But, please, don't say bitcoin is a scam, don't make fun out of yourself.

[Justfine]

10 hours ago, IsaanFam said:

 

Yes, conmen do scam always so be aware, if you want to invest in bitcoin you do not need a middle men. But, please, don't say bitcoin is a scam, don't make fun out of yourself.

Depends how you define scam.

[Justfine]

19 hours ago, Trujillo said:

Most of the people posting here have no real clue what crypto actually is. That's not taking the piss out of you guys, but stating the fact that you need to disregard what you read in the mainstream media and start looking at what the people who are actually in the know say; those who work in crypto every day -- from mining to trading to owning masternodes -- to see what is really going on. 

 

"...these basically unregulated waters..."

 

Uh, that's part of the whole point -- we are trying to get away from regulations. 

 

"Anyone wishing to dabble should have a look at a trading site..."

 

Ha...yes, if you want to add another layer of fees for your trades.

 

"Bought some more ripple a month ago, it's going to be x 10 at least by the end of November."

 

Oh boy....you are aware that Ripple as a company and the XRP token are very different, right?  And I guess you know that the company has in the past falsified claims regarding XRP’s properties to increase its value.

 

I'd like to know what you base this 10x prediction on, since I bought 8,000 XRP when they were 17 cents. Shall I start looking at colors for the Lambo? 

 

I don't know how someone with a laptop could be scamming someone but I guess it's possible. Or it could have been that he was trying to show his grandparents how his crypto holdings (or mining) actually works. 

 

As for Bitcoin, my guess is that it will not survive the long term as a functional "currency." Transfer times are far too long (LTC beats the ___ out of BTC for that, for example, as does BCH) and the fees are far too high. There are other technical issues not relevant here as well. 

 

Think of Netscape or Ask.com....or AOL...or Firefox....at one time or another we thought these would be the leaders for a very long time. We were wrong, and I think while BTC will continue to be traded as a commodity in itself, another coin/token will surface that actually meets the criteria for real world usage. 

It may be something that already exists or it might be something yet to be issued. Time will tell. 

 

Frankly, I'm more interested to hear what people who are mining have to say. 

 

 

 

I agree with you. The end game is faster money transfers and easier trade. Bpay is now faster and there are apps that allow quick bill payments. Ripple is targeting interbank system I believe but there seems to be more hype than a finished product. Plenty of competition in this space.

 

The technology rather than coins is where the future is.

[Kelsall]

21 hours ago, Trujillo said:

Most of the people posting here have no real clue what crypto actually is.

Agree.

 

Here is the first step to truly understanding crypto. This first lecture is the most difficult, but if you can get through it the others will make sense.  I had to watch it several times. 

 

 

Edited May 21, 2018 by Kelsall

[eddysmit]

On 5/18/2018 at 11:29 PM, lannarebirth said:

 

The Good Old Days:

 

https://www.theonion.com/blue-line-jumps-11-percent-1819565647

Yes,had to check how they were doing on,was it,'Ceefax',or 'Teletext',before the Internet was up and running for the public.

[davidst01]

In several years time they will all be worth much more. All the doubters will be kicking themselves on lost gains.