Any Cryptocurrency winners around here?

Discussion in 'New Roundtable' started by locoguano, Dec 5, 2017.

  1. locoguano

    locoguano You sweat, you die...

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    I'm so annoyed that I was one of the people that new about BitCoin but just never bought in. I have a few thousands XRP (Ripple) which will be a successful network... Just not sure how much the coin will appreciate. Unlike other crypto, XRP has a centralized control system; This makes it attractive to the banking systems to use (does international transactions in seconds), but also means that a Fed-like corporation can manipulate the supply.

    Anyone bought into any of the crypto coins?
     
  2. LSUpride123

    LSUpride123 Boobies make everything A OK!!!

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    Don’t feel bad. It has no use as a currency currently.
     
  3. shane0911

    shane0911 Helping lost idiots find their village Staff Member

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  4. Frogleg

    Frogleg Registered Best

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    Bought Bitcoin & Ether earlier this year (w/Gemini). I have an Airbitz wallet and used Bitcoin to buy an exercise bike on Overstock.com and donated to Wiki with Bitcoin. There's kinks to work out (like the validation speed and transaction fees), but the technology is there and it has enormous potential. I could send you bitcoin in Japan or anywhere in seconds (or minutes - transaction speed issues) from pennies to millions for a couple of bucks. And you could quickly convert that to any other currency.
    I think Bitcoin's cap will reach a trillion + to allow for any kind of B2B or Government transaction in the world. Which would put it at 100K per.
    But the script could flip tomorrow, with new technology or regulations. It's certainly highly risky and very volatile
     
    Last edited: Dec 5, 2017
  5. dachsie

    dachsie Freshman

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    On the news the other day they were advising against Bitcoin
     
  6. KyleK

    KyleK Who, me? Staff Member

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    I don't invest in things that I don't understand.
     
  7. Bengal B

    Bengal B Founding Member

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    According to a recent Forbes article what it boils down to in the cryptocurrecy world is that the really savvy investors who drive the market will win big and the average joe will end up losing their shirts. Sounds a lot like Vegas.

    Does anybody know anything about bitcoin mining and what kind of computers you need to do it. Also are other cryptocurrecies obtainable by some sort of mining process?
     
  8. LSUpride123

    LSUpride123 Boobies make everything A OK!!!

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    If BTC goes mainstream, it’s going to have to have the technology applied to current currencies.

    Majority of the BTC transactions are purely for gaining value in other currencies.

    Too much volatility to be a currency of mass use with 30% swings inside of hours.
     
  9. Bengal B

    Bengal B Founding Member

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    I get spam every day promoting some kind of cryptocurrency or another. Right there that tells me that a lot of shysters are running some kind of a get rich quick scam.
     
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  10. locoguano

    locoguano You sweat, you die...

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    At this point it is almost impossible for the average person to mine coins. It requires multiple specialized systems.
     

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