Cryptocurrency

[FrontEnder]

I can't be bothered commenting on the whole post, so I'll just pick this part out:

Houses have a value which will actually grow because... well use your ******* head, land doesn't grow on trees or farmed in someone's basement. Population grows and land gets filled. Unless you smarty pants people have found a way to clone the Earth and create an infinite number of parallel Earths where the exceeding population can move then no way BTC will be more important than land.

That is one hell of a straw man argument. Who is saying that BTC will ever be more important that land? Or Gold? Or any other physical commodity? It's a cryptocurrency.

[Lance]

I can't be bothered commenting on the whole post, so I'll just pick this part out:



That is one hell of a straw man argument. Who is saying that BTC will ever be more important that land? Or Gold? Or any other physical commodity? It's a cryptocurrency.

seems that anyone who hates it does so by comparing it to things it isn't. So they're all straw man arguments.

[scooterscot]

Nice analysis Drei. You pretty much said it.

BTC and cryptos might be fun to trade (for some) but they're not useful in any other way whatsoever.

I disagree. Yes there is a lot of dross out there. However there are some concepts currently in use. I've been keeping an eye on this project for nearly 18 months now.

https://www.stellar.org/blog/partnerships-bext360/ - it use now in use by farmers. Cutting out corruption by paying at source. Wonderful. Try doing that with fiat currency.

There remains many unbanked people throughout the world and that needs to change. OMG and Stellar and perhaps Verge and challenging banks on that with micro payments.

[FrontEnder]

I've recently been looking at this:

https://edgeless.io/

A fair an open gambling platform, could really disrupt the gambling industry.

[Lance]

I've recently been looking at this:

https://edgeless.io/

A fair an open gambling platform, could really disrupt the gambling industry.

you got me really excited there for a second. But it's just Casino games

A blockchain version of Betfair could be interesting, but the platform takes some management so it'll have to cost something to run (I think Betfair is about 5% of winnings).

I think for the USA the Casino model could work but mainly because gambling winnings are taxed. I have not figured out how they fund the site though. Casino games are far cheaper to run that live sport betting though.

[FrontEnder]

you got me really excited there for a second. But it's just Casino games

A blockchain version of Betfair could be interesting, but the platform takes some management so it'll have to cost something to run (I think Betfair is about 5% of winnings).

I think for the USA the Casino model could work but mainly because gambling winnings are taxed. I have not figured out how they fund the site though. Casino games are far cheaper to run that live sport betting though.

Sports betting is planned... Perhaps that might evolve into a betting exchange.

[pjclarke]

Would you want it to be easier for criminals? I'm using 2FA with bitstamp - once it's done it is easy.

I'm sure that's right. I was having a hard time with the Google Play Store locking me out when I tried to download Authenticator. It just seemed like another layer of obstacles on top of the twenty or so passwords I have to recall on a daily basis But that's more a reflection on me than Bitstamp (though their 2FA instructions could be clearer IMHO). As I said, I'll probably go with Bittylicious for an initial purchase then get Bitstamp up and running if I get more serious. Good to have an alternative.

[Nominally]

Good (and relevant) article

Is Bitcoin really worth nothing? Maybe, but that's not stopping it!

[psychocandy]

Personally, I dont care one way or the other as long as I make some dosh out of it.

[scooterscot]

Is Bitcoin really worth nothing? Maybe, but that's not stopping it!

"Bitcoin is... well, no one really knows what it is"

That's a little tosh and then some. It is an accounting system. Open ledger accounting system not open to manipulation and nothing more. Which is what fiat currency is, if I give you this many dollars I then I this many less dollars, except it is not recorded. Like Fiat, it is only a matter of time before you're using bitcoin without realising. I cannot fully explain financial instruments but I do know they are used to exploit. Blockchain technology is subverting that process.