Cryptocurrency

[MrMarkyMark]

Sure cause the make believe coins can keep me warm or keep me safe, completely the other way around, I can have a 1.2 mill house without being worried that criminals will grab it off me. If I had 1.2 mill worth of bitcoins I would be a target.

Again you are making a silly comparison, a 1963 jag selling for 5 6 mill is completely different... it is ART, collectors item. WTF is a CC coin? Please don't make stupid comparisons.


Talk about losing and getting hacked. See... this is what I meant:

Largest Cryptocurrency Exchange Hacked! Over $1 Million Worth Bitcoin and Ether Stolen

Around 10 Million Won worth of bitcoins were allegedly stolen from a single victim's account, according to the Kyunghyang Shinmun, a major local newspaper.

Sounds like its all gone "Won" to me

[scooterscot]

Sure cause the make believe coins can keep me warm or keep me safe, completely the other way around, I can have a 1.2 mill house without being worried that criminals will grab it off me. If I had 1.2 mill worth of bitcoins I would be a target.

Does hoarding gold keep you warm and safe? Lex Luther stole a house from a granny in the Hamptons, it can be done..

Why would you become a target who knows you have the coins? Also, like others, if there's serious coinage building up I spread it over a number of addresses.

You are making a silly comparison, for example a 1963 jag selling for 5 6 mill is completely different... it is ART, collectors item. WTF is a CC coin? Please don't make stupid comparisons. The only reason you have CC is because of the potential interest.

I see this argument all the time. It is always the same people. People who are annoyed they din't get in early enough.

[vadhert]

It is like saying that 2-bed apartment in knightsbridge should not cost £1.2m because it cost £120k to build.

Supply and demand.

[scooterscot]

But it's useless! What can I spend it on!! Why would I use it if it is worth twice as much tomorrow, I've effectively lost half my money!!

Bitcoin Comes To German Fast Food Giant Lieferando

[Drei]

I see some of the other coins have been going down XLM, SC, XRP (is that dead now?)... obviously BTC, ETH and LTC still good.

I still wish I put some money in LTC when it was $21, might be worth sticking some cash in Stellar and Sia for the future. Also what is this new coin IOTA?



Scoot buddy I like the blockchain idea, said it 100 times, I don't like how it is used. All people do on all the forums and other sites is say how great the CC is but all they do is buy and keep it so it goes up.

A good comparison (forget the Art) would be coffee, lets say 2 3 people buy all the coffee in the world getting monopoly whilst saying that they ONLY do this because they love coffee, they support the cause by being investors and want to support the poor farmers. It has nothing to do with the fact that if they buy all the coffee in the world the price would go up by %2000+ because people need coffee.

Art comparison is pretty much the same as CC, only difference is that you can't quite create the same art, same vintage bottle of wine or whatever but you can create CC. Art is more valuable as it ages because well it is art but a CC... no idea. I have a £1 note somewhere, does that mean that its value is £10000 now? It is currency, it is being used and it is OLD.

Its not the same as investing in a start-up company which means that you put money in it, help them expand and grow whilst enjoying your investment grow with them.


Purely to make money sure... but why do you people call yourselves "INVESTORS" or "EARLY ADOPTERS", you are neither... you are not investing in the company that created the coin nor are you using the coins... just hoarding them, keeping them so no one else can buy and use them so that the price is artificially inflated.

[AtW]

EARLY MUGS is a more correct term

HTH

[scooterscot]

EU Report: Digital Currency Use by Organized Criminals Is 'Rare'

Regulation • News • Europe
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A newly released report from the European Commission suggests there is relatively little virtual currency use among organized crime groups.

Calling cases involving organized crime and the tech "quite rare", the report was sent in late June from the European Commission (the European Union's executive arm) to the bloc's legislature as well as its body of national leaders. It was made public on 4th July.

The report's authors argued that technological limitations – a lack of expertise especially – is behind the apparent low usage rates.

They concluded:

"Few investigations have been conducted on virtual currencies which seem to be rarely used by criminal organizations. While they may have a high intent to use due to [virtual currencies] characteristics (anonymity in particular), the level of capability is lower due to high technology required."

The report also notes that some "may have some interest in using [virtual currencies] to finance terrorist activities," but it stops short of offering specific instances, pointing to law enforcement information-gathering efforts that have identified posts on social media. Technical shortcomings are again cited as a limiting factor.

Ultimately, the authors argue that the lack of an EU-wide legal framework creates vulnerabilities on the transaction monitoring front.

It notably argues for the creation of a database of users and associated wallet addresses – a possible route that has drawn criticism from advocates of the technology and privacy more generally.

"The Commission would issue a report to be accompanied, if necessary, by proposals, including, where appropriate, with respect to virtual currencies, empowerments to set-up and maintain a central database registering users' identities and wallet addresses accessible to FIUs, as well as self-declaration forms for the use of virtual currency users," it suggests.

[scooterscot]

I see some of the other coins have been going down XLM, SC, XRP (is that dead now?)... obviously BTC, ETH and LTC still good.

I still wish I put some money in LTC when it was $21, might be worth sticking some cash in Stellar and Sia for the future. Also what is this new coin IOTA?

Still happy with LC having bought in at $9. And I still hold XLM and SC. Is that dead now? Why because the price has fallen? If you look the whole altcoin market is being ravished right now. I only wish I shorted XLM and SC, but who's to know? No, they are not dead. I'm bought into the idea and remain that way.

Scoot buddy I like the blockchain idea, said it 100 times, I don't like how it is used. All people do on all the forums and other sites is say how great the CC is but all they do is buy and keep it so it goes up.

A good comparison (forget the Art) would be coffee, lets say 2 3 people buy all the coffee in the world getting monopoly whilst saying that they ONLY do this because they love coffee, they support the cause by being investors and want to support the poor farmers. It has nothing to do with the fact that if they buy all the coffee in the world the price would go up by %2000+ because people need coffee.

Art comparison is pretty much the same as CC, only difference is that you can't quite create the same art, same vintage bottle of wine or whatever but you can create CC. Art is more valuable as it ages because well it is art but a CC... no idea. I have a £1 note somewhere, does that mean that its value is £10000 now? It is currency, it is being used and it is OLD.

Purely to make money sure... but why do you people call yourselves "INVESTORS" or "EARLY ADOPTERS", you are neither... you are not investing in the company that created the coin nor are you using the coins... just hoarding them, keeping them so no one else can buy and use them so that the price is artificially inflated.

not sure I understand the example. I've bought into Stellar because i'm in favour of getting the unbanked banked. I've bought in SC because I think it's is a great alternative to Dropbox, distributed encrypted cloud storage that is not under the jurisdiction of any one country - WOW. If you can't see value in that...

Yes I'm holding coins. Why wouldn't I? I get paid in SC to offer disk space for storage. Great.

[AtW]

Yeah Cosa Nostra isn't using cybertulip, so all good then - who cares if cyber criminals love it

[Drei]

Related to Siacoins... this guy pretty much nailed it (mind his spelling), but this applied to all coins on the market:

man, everything crypto is in a bubble - you don't have to be a financial expert to see it??
people have realized there is some thing here that goes up and the more it goes up the more investors it attracts.

SIA was invented for having a container for the payments - NOT as a means of investment. Look at the graph for SIA coins - it was flat falt since the beginning only since march it has been exponential - for no reason related to the core SIA project at all... Please bear in mind that the underlying value of the SIA coins can only in a healthy way come from utilization, demand and supply of storage and from good announcements from the SIA folks, of which there has been none this exceptional in the period. ON the contrary, if the market now thinks SIA is the new gold, all liquidity can be soaked up in investment, just sitting there to wait for the bubble to crack, not to buy and sell storage, eventually having the consequence that even less storage is being traded, and then SIA is a new bitcoin, that is not used for what it's liberators of the world though, but just as a digital gold bar

I'm as happy as yourself happy to see my amount of SIA go up in value, but I'd in fact rather have some more dynamics in the space and product development, since that was what got me going for the SIA community. An exponential SIA price does not do that any good IMO.

If the craze goes on like this you can hit a dollar soon, but i'd do horse betting if excitement is what you're after.

Today there is no real business case for investing heavily in storage equipment - not because the low value of the COIN, but because there is no demand.. it took me 2-3 months just to get 200GB rented out, and I have a stable host with quick access and attractive collateral.. Once the demand is there there will be a price point - that price point is competing with other services denominated in any fiat currency - that is the real comparison..

there is around 2,3% of utilization of all space available, that means there is a heavy excess of space that no one really are hiring at the current pricepoint - not because it is expensive - it is dead cheap, but because of lack of having it consumed in an easy way...

Storing just a single file in the SIA net work still require you buy coins (which is not so easy either), get the wallet and the client and kin of understand the tricky bit of allocations... all very nerdy, IMO.

Services around this need to come to a stage, where it will be the drop box or one drive of distributed storage on many platforms - that stage is relatively far away - look at the road map, but here is some good thinking put into it already.

We would all be happy sticking some coins in the ground then BAM you get a money tree... this is no different than what you guys do by investing in crypto. I don't have any trust in the actual community and users, not the coins or what they represent.

Saying that maybe I should stick some coins in the ground just in case a money tree decides to pop up. Looks like a few people have been enjoying the fruits



Siacoins prices will have to stay down so that monthly storage prices remain below whatever the cost is at the moment on any cloud provider. Otherwise what is the point? You also state that

distributed encrypted cloud storage that is not under the jurisdiction of any one country

I have been watching Silicone Valley and the whole storage on devices is a great idea as long as people are willing to allow you to store tulip on their devices.

If your secret data is stored on the network, it would mean that it could end up on my NAS, local PC or mobile device... this device is based in a country where the authorities DO have rights, they can take that hardware away. Sure they won't be able to get the data as it will be encrypted... but you can do the same thing with DropBox, OneDrive, Google etc. Just encrypt the data before you upload it... the authorities will not employ a Cray computer to crack your password in the next 100 years. They could also just take your PC, the one that is holding the SIA cloud software and force you to give them the password so they could access it... do you really think there is a way to stop someone wanting access to your data?

The SIA wallet... takes freaking 7GB and keeps going up, takes half a day to sync it up. If I want to be part of the SIA network I will have to invest into storage hardware so I can rent out the space (Have SIA Wallet and a minimum number of SIA Coins). If I want to use space on the SIA network I would have to have the SIA Wallet installed (10GB space) and then I would need to actually own SIA Coins. For a regular Joe it would be cheaper buying a NAS... they could access it from anywhere in the world.


I really do get the whole "Stick it to the Man" attitude, we all want to be rebels but I don't understand why would a normal regular Joe, stand-up person care about privacy regarding government and authorities. I really don't give a tulip if they read my e-mails or look at my holiday photos as long as they can stop the next terror attack or any other criminal activities.