|
cannabinated



Registered: 01/03/13
Posts: 14,743
Loc: Outside
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: koods]
#25636577 - 11/24/18 03:14 PM (5 years, 2 months ago) |
|
|
you mean shares? the value of the dollar goes down
|
Ferbernardo
encephalon



Registered: 01/31/16
Posts: 64
Last seen: 1 year, 3 months
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: QOI]
#25637405 - 11/25/18 01:54 AM (5 years, 2 months ago) |
|
|
well dear friend not all cryptos need mining for the transactions to be complete. some of them have other methods of doing that mathematically. ALSO:

-------------------- nothingness is the ultimate reality
Edited by Ferbernardo (11/25/18 02:09 AM)
|
Ferbernardo
encephalon



Registered: 01/31/16
Posts: 64
Last seen: 1 year, 3 months
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: koods]
#25637418 - 11/25/18 02:05 AM (5 years, 2 months ago) |
|
|
Even though there won't be any block rewards by then. Miners would continue to make money by collecting transaction fees i think
-------------------- nothingness is the ultimate reality
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,308
Loc: Maryland/DC Burbs
Last seen: 3 hours, 22 minutes
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: Ferbernardo]
#25637420 - 11/25/18 02:10 AM (5 years, 2 months ago) |
|
|
How does paper currency and minting cost $28 billion when the entire budget of the treasury department is $22 billion and they do a lot more than print and mint currency?
I don’t believe those numbers
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
|
Ferbernardo
encephalon



Registered: 01/31/16
Posts: 64
Last seen: 1 year, 3 months
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: koods]
#25637428 - 11/25/18 02:28 AM (5 years, 2 months ago) |
|
|
-------------------- nothingness is the ultimate reality
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,308
Loc: Maryland/DC Burbs
Last seen: 3 hours, 22 minutes
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: Ferbernardo]
#25637434 - 11/25/18 02:36 AM (5 years, 2 months ago) |
|
|
Oh those numbers are for all currency, not just US dollars.
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,308
Loc: Maryland/DC Burbs
Last seen: 3 hours, 22 minutes
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: koods]
#25637439 - 11/25/18 02:46 AM (5 years, 2 months ago) |
|
|
The economic cost of bitcoin alone in the past year is at least $250 billion USD. Lost value is a cost.
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
|
Bjorn_Stormcrow
The Farfarer.



Registered: 09/27/12
Posts: 2,572
Loc: Toronto, Ontario, Canada
Last seen: 1 month, 19 days
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: koods]
#25637556 - 11/25/18 05:39 AM (5 years, 2 months ago) |
|
|
The problem with any crypto currency is that it is a fiat based currency with no real economic power to back it up. its entire value is derived from how much people want it, and the classic balance of supply and demand, sounds great so far. except that, as a currency, its value is also dictated by usability. which crypto currency's have always suffered from (yes there is more support and more places will take them but its hardly universal) Since most crypto currencies have throttled trickles of new currency entering the market, that means supply is (mostly) stationary. so demand is the primary driving force.
The more people see a particular currency as an investment opportunity, the higher the value will grow since it increases demand, however the people generating that demand are not using that currency they are just sitting on it in order to divest themselves of it later. which means the currency is not actually moving. the more of the currency thats locked up in investments, the higher the barrier to entry for people who actually want to use it (less available supply) which eventually leads to even less usability, which will place downward pressure on the market. Eventually the market stalls and starts to fall. people start liquidating their investments putting even more currency back into a market that has stagnated. and then you see the dramatic crash like what bitcoin is currently experiencing...
now there is a chance that bitcoin may recover, it has the advantage of market share and exposure that could help prop it up. but if it does survive, it will be subject to the exact same cycle happening all over again.
-------------------- Live Mythically
|
passifloracaerulea



Registered: 11/13/10
Posts: 10,485
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: Bjorn_Stormcrow]
#25637869 - 11/25/18 09:55 AM (5 years, 2 months ago) |
|
|
Anyone can start their own crypto. All you have to do is make up an image and pretend you can only create so much of that image. Boom, crypto currency. I'm surprised this site hasn't made one.
|
Ferbernardo
encephalon



Registered: 01/31/16
Posts: 64
Last seen: 1 year, 3 months
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: Bjorn_Stormcrow]
#25638565 - 11/25/18 03:38 PM (5 years, 2 months ago) |
|
|
well said! waves, waves all around us
-------------------- nothingness is the ultimate reality
|
sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: koods]
#25638637 - 11/25/18 04:17 PM (5 years, 2 months ago) |
|
|
Quote:
passifloracaerulea said: Anyone can start their own crypto. All you have to do is make up an image and pretend you can only create so much of that image. Boom, crypto currency. I'm surprised this site hasn't made one.
working cryptocurrencies require a lot more than making up an "image"
Forking one is probably pretty damn easy though...and a majority of them are forks, of open source code that they slightly modified.
Quote:
koods said:
That was about bitcoin cash, but the fact that these issues exist at all demonstrates how it’s just silly to place any trust in cryptos.
Lol, Bitcoin cash now is split in two. Bitcoincash "satoshi vision" and Bitcoin cash "ABC"
There's also super bitcoin, bitcoin diamond, bitcoin gold, and a vast plethora of other bitcoin-fork shit coins. It is getting pretty ridiculous
Edited by sh4d0ws (11/25/18 04:18 PM)
|
Ferbernardo
encephalon



Registered: 01/31/16
Posts: 64
Last seen: 1 year, 3 months
|
Re: I use to be convinced crypto was the money of the future but let's get real [Re: sh4d0ws]
#25639409 - 11/26/18 12:43 AM (5 years, 2 months ago) |
|
|
-------------------- nothingness is the ultimate reality
|
|