Narz
keeping it real
Prices slipping, good time to get in before the bounce back
What are your thoughts on BitCoin?
- Thread starter aimeeandbeatles
- Start date
Archbob
Ancient CFC Guardian
Meh, I acquired 2,000 Dogecoins for free and bought 10,000,000 PAC Coins for $100, I'll see if I can't cash in on Pac in its infancy.
Narz
keeping it real
If they go into the thousands remember your friends on CFC 
Archbob
Ancient CFC Guardian
My target for pac is .25 cents. The current supply is 3 trillion, they are doing a conversion to 3 billion supply in march and they'll give current holders 1 new coin for every 1000 old coins in the transfer. I think the new coins can get to $1 within the next year.
civvver
Deity
- Joined
- Apr 24, 2007
- Messages
- 5,855
That card should be retailing for around $180 though, it's several years old and msrp at release was around $200.
Narz
keeping it real
Ethereum on a big tear last night. Eventually they're going to create a crypto that solves actual real world problems and isn't as energy guzzling. I really don't see how this isn't the future. Especially with people's growing mistrust of Banks and other corrupt authorities. There's probably going to be a bunch of little cryptos that come and go, Everyone getting in on the ground floor hoping it'll be the next big thing.
Borachio
Way past lunacy
- Joined
- Jan 31, 2012
- Messages
- 26,698
I think bitcoins are more than just a bit dodgy.
If they're not a bubble just waiting to burst, I don't know what they are.
I know very little about them, of course, so I'm prepared to be corrected, but as far as I know there are no real assets or businesses behind them and therefore the only clue to their value is what people are prepared to pay for them.
I'm thinking tulips and South Seas here. For those of you with long memories. Even though the tulips almost really did exist, and there really was a South Sea.
And then there was that tech bubble. When was that? The late 90s? Yeah. I remember people getting very excited about that, too.
All of which isn't to say that you, personally, couldn't make a lot of money from bitcoins. If you're lucky. But then that's true of all sorts of speculation and plain outright gambling.
And I've absolutely nothing against gambling. It's losing, I can't abide.
If they're not a bubble just waiting to burst, I don't know what they are.
I know very little about them, of course, so I'm prepared to be corrected, but as far as I know there are no real assets or businesses behind them and therefore the only clue to their value is what people are prepared to pay for them.
I'm thinking tulips and South Seas here. For those of you with long memories. Even though the tulips almost really did exist, and there really was a South Sea.
And then there was that tech bubble. When was that? The late 90s? Yeah. I remember people getting very excited about that, too.
All of which isn't to say that you, personally, couldn't make a lot of money from bitcoins. If you're lucky. But then that's true of all sorts of speculation and plain outright gambling.
And I've absolutely nothing against gambling. It's losing, I can't abide.
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yung.carl.jung
Hey Bird! I'm Morose & Lugubrious
Nothing in this world has inherent value, what kind of useless argument is this? Diamonds, until we found out you can actually use them as drills, were just shiny rare gems. Completely useless, no actual application aside from being an adornment for the aristocracy. The only reason they were/are valuable is because they're rare.
Simultaneously, houses are not good assets when you're living in a nomadic society. Some parts of the world used/still use shells as a currency. Nothing will ever be inherently valuable, it is all contextual. Most ressources would be useless in a post-scarcity scenario.
Almost everywhere in the world there are ATMs where you can cash out BTC. Even in my 250k people city there are shops where you can already pay with BTC. How more real can it get? Do you want them to press actual coins? At this point it is established as a currency.
Few people are 'making money off of the bitcoins', gramps
Nowadays money is made mostly on the altcoin market because it's extremely volatile. Imagine a stock market on drugs and the only thing you can invest in are shady tech-startups
I have almost more hope for ETH in 2018 than I do for BTC. I hope you're not all in, but tbh I know you're smarter than that. Any alts you're currently looking at? I bought some XLM (Stellar Lunaris) a couple of days ago and have made 125% profit off of it. The market is just insane right now.
Of course I'm far from an expert/authority, I've only gotten into this a few months ago. All I know is January is looking very promising and that the December dump was really good for people who are late to the party (me).
Simultaneously, houses are not good assets when you're living in a nomadic society. Some parts of the world used/still use shells as a currency. Nothing will ever be inherently valuable, it is all contextual. Most ressources would be useless in a post-scarcity scenario.
Almost everywhere in the world there are ATMs where you can cash out BTC. Even in my 250k people city there are shops where you can already pay with BTC. How more real can it get? Do you want them to press actual coins? At this point it is established as a currency.
Few people are 'making money off of the bitcoins', gramps
Nowadays money is made mostly on the altcoin market because it's extremely volatile. Imagine a stock market on drugs and the only thing you can invest in are shady tech-startups I have almost more hope for ETH in 2018 than I do for BTC. I hope you're not all in, but tbh I know you're smarter than that. Any alts you're currently looking at? I bought some XLM (Stellar Lunaris) a couple of days ago and have made 125% profit off of it. The market is just insane right now.
Of course I'm far from an expert/authority, I've only gotten into this a few months ago. All I know is January is looking very promising and that the December dump was really good for people who are late to the party (me).
Borachio
Way past lunacy
- Joined
- Jan 31, 2012
- Messages
- 26,698
Rarity by itself won't give a thing value.
Take my DNA, for a not very good example.
Or the Moon, for a slightly better one.
Nevertheless, it's received wisdom (I believe) that a stock without any tangible assets is inherently speculative.
metalhead
Angry Bartender
- Joined
- Apr 15, 2002
- Messages
- 8,031
A medium of exchange is not useful as a currency if its value is not stable. The vast fluctuations in the value of BTC make it absolutely useless as a currency. Nobody ever doubted that it is technically possible to use Bitcoin as a medium of exchange, but a medium of exchange that people aren't willing to exchange freely because of fluctuations in value is NOT a currency.
yung.carl.jung
Hey Bird! I'm Morose & Lugubrious
isn't every stock market, by definition, inherently speculative? I agree however that rarity in itself does not give any value. for diamonds, as I wrote above, it was mostly aesthetic considerations and prestige that made it valuable imo.
the value of the currencies we currently use (i.e. money) is also definitely not stable. more stable? yes, surely. but your statement is completely arbitrary in that regard.. how stable would BTC have to be in order to be considered a currency? are you the arbiter of that? I can come up with a million scenarios that would make USD extremely volatile, does that mean it is suddenly not a currency anymore?
metalhead
Angry Bartender
- Joined
- Apr 15, 2002
- Messages
- 8,031
It isn't arbitrary at all, I gave you the basic criterion - is the value of the medium of exchange stable enough that people are willing to freely give and receive it? If not, then the medium does not function as a currency. Look at any country whose currency becomes destabilized. It stops functioning as currency. People turn to other media of exchange in order to conduct business transactions, such as foreign currencies, or local barter economies crop up. The same would no doubt happen to the USD, were it to destabilize to the point people could no longer count on it having a particular value.
Narz
keeping it real
I'm really far from an expert too, I'm very lazy and mostly only hear about the hottest altcoins from my friends who've already invested 1000% ago
My friend at my last job in NY which pays just above minimum wage has made almost $1/million from crypto (bought over 20btc at $200, over 1000 lites and few hundred etherium when it costs just a few dollars, ripple last July. Im pretty jealous, wish he'd buy some property here in Florida and let me mange it
I'm going to buy some ripple, some rumors it will hit coinbase later this year
Narz
keeping it real
Gonna try some zcoins and dash too as per a friend's recommendation. Mostly focusing on ripple tho
Narz
keeping it real
Kozmos
Jew Detective
Sure, but Ripple serves exactly one purpose, to power fiat transfers of banks and I really hope it kicks SWIFTs ass at that since I hate the wait for overseas payment transfers. I see zero use cases for private individuals. I doubt banks will buy their XRP from exchanges instead of directly from the creators who can create it at will.
Narz
keeping it real
Went up from $2.52 to $2.76 since I got in a few hours ago 
Narz
keeping it real
There are no limits on how much they can create?
