Cryptocurrency

[Jog On]

Ethereum/DASH/Zen/Stellar

I think GAS and Ripple fit in there too but, I think the above 4 will be big having looked into the technology and use cases behind them. Anyone serious about investing really, really needs to read about the projects and get geeky about them.

White papers are what Annual reports are to share investors.

[Hobosapien]

Royal Mint Gold, RMG blockchain secured crypto coming soon.

RMG is an alternative way to invest in and trade physical gold.

Each RMG represents direct ownership of 1g of fine gold

RMG will have no on-going management or storage fees and efficient price discovery through a digital trading platform, providing one of the lowest cost and most flexible forms of direct gold ownership.

[clearedforlanding]

Royal Mint Gold, RMG blockchain secured crypto coming soon.

Ah yes. A lady I know at CME Group is leading this. I don't really understand the value proposition despite her explaining it many, many times.

[tomtomagain]

White papers are what Annual reports are to share investors.

What? Made up bolloxs?

Don't get me wrong, I think there is a future for Cryto currencies. For example, a currency allowing micro-payments for online-content has been touted as the saviour of the news industry for the last 20 years. That's a good "use-case", something that lets me pay 0.01p to read a page from my favourite blog/online newspaper/whatever-other-information-source I want to consume.

Same for music & video streaming.

But that needs stability and industry adoption, if I put in £10 into NewsCreditCoin, I want £10 of credits, not £20 one day and £5 the next.

Large corps and organisations could have their own "internal" currency, that would help them promote entrepreneurialism and efficiency within their structures, groups within the company would have to "buy" and "sell" their services within the company using their AcmeCorpCoin, if they ran out of money, they'd go bust and be fired. They could control the "Exchange Rate" into Fiat currencies, allowing them to quickly reduce or increase "real-world" spending by cranking the number up or down. So if the AcmeCorpCoin was pegged at 1ACC=1USD an AcmeCorp wanted to save 10% it could just drop its exchange rate to 1ACC=0.9USD. Similarly if it want to invest more in the business set it to 1ACC=1.1USD.

The "sending-money-abroad-cheaply" case seems weak. You can already send money abroad very cheaply and if it did start to threaten the banks/global finance hold on money transfer then they could simply slash the price of current transfers. They have all the infrastructure in place to do this already.

The "I like to hide my money because I am a criminal/tax-dodger/tin-hat-conspiracy-nut" case is also flawed. Governments have been (reluctantly) cracking down on this sort of behaviour and are not going to let a shadow financial system develop, unregulated and (more importantly) untaxed.


For me the current crypto-madness is too much. I'm happy to sit on the sidelines and watch how it all unfolds.

But I hope all CUKers involved make their fortunes. :-)

[ChimpMaster]

I wonder what Scooter is up to?

My bet is that he cashed out most of his BTC to FIAT and is living is large now.

My bet is also that the crypto market will not see a recovery. Maybe a dead cat bounce here and there. But not a recovery. Which is a shame, because I was starting to invest and had eyes on a decent size mining rig.

[VirtualMonkey]

If everything was so predictable everyone would make money all of the time. But it isn't. So they don't.

Why should it "bounce" back? What's going to change to make it increase in value? The shrieking-media is just going to go on and on wailing about every negative crypto-related story. That's not going to help sentiment.

Reminds me of the start of the DotCom crash. Everyone was talking about a "V-Shaped Recovery" when prices were down by 40% ... off course they ended up down 90% and even 99% in a lot of cases.

I don't think anyone is saying this isn't a bubble and won't crash but the dot com bubble lasted what? 4 years? realistically were 1 year into this. big difference between a correction and a crash...even from my limited experience.
speak to any if us here and you'll probably find well be looking to be out..or actually out this time next year

[clearedforlanding]

I wonder what Scooter is up to?

My bet is that he cashed out most of his BTC to FIAT and is living is large now.

I hope so. I watched his initial post with skepticism and then watched him make some pretty stellar calls, from the sidelines.


This guy can be interesting

[Hobosapien]

Ah yes. A lady I know at CME Group is leading this. I don't really understand the value proposition despite her explaining it many, many times.

Something to keep an eye on as an alternative to buying physical gold or paper 'equivalents' for the risk spreading.

Should be a lot easier to buy/sell via the exchanges than physical, and apart from the potential government interference aspect it's a 'safe pair of hands' on the trustability scale.

Bonus being it adds legitimacy to the crypto marketplace and is one more step towards 'the establishment' joining it rather than fighting it.

[tomtomagain]

speak to any if us here and you'll probably find well be looking to be out..or actually out this time next year

Yeah. That's what they all said in 2000.

Seriously though. When these things crash, they really crash. Liquidity completely dries up, and everything, even the "good ones" get hammered. There are no "safe-havens" in a market crash.

I had friends who were 100k up on certain dotCom shares, then they were 50kup, then they were still 20k up and putting more in. Eventually, they were 10k down and wouldn't sell because could bring themselves to crystallize the losses. Eventually, they were 100% down.

The "recovery" of the markets is misrepresented in the graphs that you see banded around that tell you even if you had invested at the height of the dotCom boom, you'd still be hundreds of % up today. A lot of assets/shares never recover, they simply go out of business.

Don't underestimate the psychology involved in speculating. It's easy to tell yourself that you will be a LTBH ( or HODL as you kids call it today ), its not so easy when you are looking at a 75% loss on your original capital.

I'm not saying don't invest. It's your choice. But when people say "Don't invest money you cannot afford to lose" .... they mean it!

Make sure you have a plan and stick to it. And planning now for a 30% drop in your original investment is a good place to start.

And good luck and I hope you all get filthy rich.

[DimPrawn]

Bitcoin latest: Facebook bans all ads promoting cryptocurrency amid fears they are used for fraud | The Independent

Facebook says it's all a scam to rob people.

A ringing endorsement of crypto from the leading social meeja kings.