Cryptocurrency

[Tonymustwearbriefs]

Not many people actually short or know how to in crypto. And to be honest, I think you'd be stupid to right now.

When BTC turns bear, for a sustained period of time like it did in 2013, I'll probably try out shorting.

Why do you think it would be stupid to short crypto right now?

[_V_]

What is it exactly about blockchain that impresses you so much?

I'm impressed how the act of moving a number from one place to another can be made so incredibly complicated, slow and costly. Takes some doing that.

[FrontEnder]

Why do you think it would be stupid to short crypto right now?

Because it's the craziest and most unpredictable bull market the world has ever seen.

[scooterscot]

What is it exactly about blockchain that impresses you so much?

A few things:

1) Resistance to fraud and manipulation by the few. If 2007 taught us anything it is fraud is widespread. And that failure should be rewarded. I'm no Marxist but vehemently opposed to such behaviour.

2) Distributed sharing of technology. We all have the same equipment in our homes yet the resources are poorly distributed / shared. During my masters I studied operational research at the university of Strathclyde, stochastic processes and so on. In particular mathematical modelling and information systems. There was one example I remember well when the City of Venice enquired of the university how to better distribute goods (food and shop supplies) around the canal system whilst mitigating the amount of distance traveled by vessels in and out of the city and thereby promoting reduced erosion of the canal embankments. The solution, using mathematical modelling, was illustrated through understanding dates / times of shipments / and free capacity of other vessels operating around the city so that it may be shared with other suppliers. How does this relate to blockchain? Well.... I now see this example exploding on a number of blockchains. Siacoin for example exploiting shared drive space, resulting in quicker download times with fewer single points of failure. Dropbox is toast if it takes off. Gnosis (GNO) and some others like it are exploiting distributed computing power, once operational the most power supercomputers will become obsolete. Why purchase a supercomputer when you can harness the power of hundreds of thousand of idle machines?

3) It's the quickest get rich scheme I've ever seen.

[Tonymustwearbriefs]

Thanks for the replies guys. Good luck in the markets.

[FrontEnder]

I'd also add

4) blockchain is probably the best way we've come up with of creating an immutable record of data. Once it's on the chain, it can't be changed. Not without an unfeasably large amount of computer power.

5) the chaaaaiiiinnnn will keep us together.

[scooterscot]

Think Loopring will get much attention this year... https://loopring.org/en/index.html

Although not yet ready I do believe decentralised exchanges will be a feature of 2018 with online exchanges loosing out.

Sometimes I scare myself... up 60% so far.

[psychocandy]

Never send through coinbase, send to gdax for free and then transfer from gdax to anywhere else for free too.

No transaction fees with gdax???? Hmm..... Hows that then?

[psychocandy]

Receiving a few hundred dollars a week since I bought into Force (FOR). Currently pays out $44k a year for owning a master node, which will set you back 3.67 BTC's.

https://masternodes.online/currencies/FOR/

It'll only become more difficult to buy a master node if the price takes off.

Did look into this for zencash even set up a test node. Needed approx $1000 worth at the time - its gone up a fair bit since.

What put me off was the piss poor dox, and general attitude of those involved. Took me ages to get it all working because it was crap. Then I was ready to test and someone involved said "umm I dont think we need any more testers". It was a bit like a closed club where they werent really interested in getting people involved or even making an effort to make it easy to understand.

[FrontEnder]

ETH is looking pretty unstoppable at the moment, been a steady 5-10% increase most days for a couple of weeks.