Cryptocurrency

[Lockhouse]

Interesting goings on at Oyster PRL. Looks like they appointed a new director who exploited some left over code from the ICO and minted himself some new coinage before running away.....or something.

Sold mine a while back.

[Lockhouse]

This is brilliant. Looks like it was the original CEO with whom they'd been working with remotely for over a year and wait for it..... no-one knows who he really is.

[SuperZ]

$1500 per BTC the last time volatility was so low, yup May last year. Then it went 13x over the next 6 months.

Charts are useless. The number of stupid people looking at the past and expecting it to repeat is astounding. The market is different now than anytime in the past. Those that have made good money have been lucky. Shame 90% of current speculators have lost money on it though.
Suddenly for crypto to survive it's desperate for institutional money which is ironic. I'd say the chances of another huge bull run are slim. Many are choosing to not acknowledge that the bull run in 2017 might have been largely manipulated too, pulling in greater fool suckers! .
Worst thing is the ICO and the cult followings. You don't hold any shares in the company, the companies don't even disclose salaries of those spending the ICO money - no disclosure(accountability either) of finances/heath of the company or any "side" projects they might be working on. Many are just going through the motions knowing the £ will likely run out while those running the joint drain it of funds
There;s little in the way of fundamentals, hardly any intrinsic value, it's a greater fools game. And people still think institutions are going to pour their money in.

[VirtualMonkey]

Charts are useless. The number of stupid people looking at the past and expecting it to repeat is astounding. The market is different now than anytime in the past. Those that have made good money have been lucky. Shame 90% of current speculators have lost money on it though.
Suddenly for crypto to survive it's desperate for institutional money which is ironic. I'd say the chances of another huge bull run are slim. Many are choosing to not acknowledge that the bull run in 2017 might have been largely manipulated too, pulling in greater fool suckers! .
Worst thing is the ICO and the cult followings. You don't hold any shares in the company, the companies don't even disclose salaries of those spending the ICO money - no disclosure(accountability either) of finances/heath of the company or any "side" projects they might be working on. Many are just going through the motions knowing the £ will likely run out while those running the joint drain it of funds
There;s little in the way of fundamentals, hardly any intrinsic value, it's a greater fools game. And people still think institutions are going to poor their money in.

Another little ray of sunshine. Fab.

[SuperZ]

Another little ray of sunshine. Fab.

I've seen the light .
I've wanted to like it but see it as a cesspool to be honest. You only have to look at some of the characters involved in ICO;s, exchanges etc. It's worse than the system it's tried to escape from to be frank. John Dodgy McCaffee, Brock I love boys Pierece (apparently)
Fully exchange regulated security tokens, yep, but they're not going to behave the way crypto has in the past,ie, rocket on hype, BS, press exaggerations (BTC will take over the world! - Dec 2017).
Don't be blind and ensure you understand the bigger picture, including why it came into exitance in the first place and what it is now. It's failed at most if not everything so far other than a tool for speculation. There are a few seemingly decent projects out there but that doesn't mean their coins should be worth anything much. And it's all too volatile to be put to use for payments. Volatilely and payments don't go well together. All payments projects should be based on one of the stable coins .

I am involved with it but doesn't change my opinion.

[milanbenes]

Scoots,

I want to buy some Ripple, where can I buy them ?

Ok the price is now .44USD, I'll buy about $5000 worth, a nice round number ~10,000pieces as a speculative bet.

When I get them can I get like a hash code and print it, I am paranoid that my evidence of my holding for example on a usb stops working, what do I do then

Thanks

Milan.

[VirtualMonkey]

I've seen the light .
I've wanted to like it but see it as a cesspool to be honest. You only have to look at some of the characters involved in ICO;s, exchanges etc. It's worse than the system it's tried to escape from to be frank. John Dodgy McCaffee, Brock I love boys Pierece (apparently)
Fully exchange regulated security tokens, yep, but they're not going to behave the way crypto has in the past,ie, rocket on hype, BS, press exaggerations (BTC will take over the world! - Dec 2017).
Don't be blind and ensure you understand the bigger picture, including why it came into exitance in the first place and what it is now. It's failed at most if not everything so far other than a tool for speculation. There are a few seemingly decent projects out there but that doesn't mean their coins should be worth anything much. And it's all too volatile to be put to used for payments. Volatilely and payments don't go well together. All payments projects should be based on one of the stable coins .

I am involved with it but doesn't change my opinion.

And I thought we wouldn't agree on anything. Payments don't necessarily need to be on a stable platform in my opinion. Payments in this context require, in my opinion, a fixed input and output conversion ratio so that fluctuations in price don't leave the buyer or seller feeling cheated. This doesn't work at the moment. The problem there comes when you are spending a coin you have held for a while and then the price goes up (or down for the retailer). Digital cash, yes...that should be a stable coin. Digital cash should be that thing that sits in your bank account and a portion of it converted to payment coin at the time of purchase. Then the payment coin translated immediately back to stable coin in the retailer bank account.

I had this conversation with someone not so long ago...might have been scooter. Almost all of the digital assets available at the moment perform the same function as stocks or investments while claiming to be digital cash. They're not.
Once that "one stable coin to rule them all" appears then I think the whole arena becomes a lot more tenable as an overall replacement to the tulipstorm bitcoin was born from.

There are a lot of tulip projects out there. And if we're honest...we all know they wont be likely to survive long term. key take-away...if you think a project is tulip then don't put any money in it.
The rest of us are speculating on assets that will remain and prosper...there will be a good number of them that do, despite what critics will have you believe. Is a stake in Iceland any worse than a stake in Sainsbury's? If you say "yes" simply because you have an opinion that one is worse than the other then you've missed the point (I say 'you' but I should say 'one'). Both have the ability to go up or down in value...and that value, as with cryptos, is entirely determined by market perception of the company. In my opinion the only real difference between shares and crypto (if you exclude the (also) variable price of property or equipment that is physically held) is the fact that crypto is new and low market cap...therefore highly open to manipulation. When crypto hits $2trillion market cap (let's say) then an order for $10m will not make such a big wave as it can now.
Didn't think this post would turn out to be s long when I started it but I do have a firm belief in the underlying tech that is blockchain. I can see so many functions that it can perform by creating trust(ability) in a trustless environment that it doesn't make sense to me that it would just fail

[scooterscot]

Don't be blind and ensure you understand the bigger picture, including why it came into exitance in the first place and what it is now. It's failed at most if not everything so far other than a tool for speculation

In case you've forgotten, Bitcoin is doing exactly what it came into existence for. You think you're holding your own capital when holding the pound in your pocket and then the central bank devaluates it be half on a whim. That can never happen with Bitcoin.

[Hobosapien]

Payments in this context require, in my opinion, a fixed input and output conversion ratio so that fluctuations in price don't leave the buyer or seller feeling cheated.

The point of digital currency is that for stability it can be held for only as long as it takes to complete the transaction. This should be as near enough real-time that there is no opportunity for price fluctuation mid transaction. Of course that means not using blockchain but something much quicker.

Need to separate concerns of currency from investment and hold whichever meets either need, can't be both if done right.

The problem is everything is based on historical use of currency, which is not fit for purpose in the modern technologically advanced world. e.g. Why get paid from an employer in a currency that changes value, why not delay receiving that payment until you are ready to spend it and hold a credit with the employer in a non-volatile form via blockchain to prove what is owed.

[milanbenes]

ffs

can one of you tell me how I can buy Ripple and how I can store my Ripple safely at my house

Milan.