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Thread: Official Cryptocurrency Thread

  1. #51
    Junior Member HoldingOn's Avatar
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    Re: Official Cryptocurrency Thread

    Eth is going to the moon

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    Re: Official Cryptocurrency Thread

    Jackson Palmer, the founder of the cryptocurrency, told Coin Desk the surge in Dogecoin speaks volumes for the current state of the altcoin market.

    Palmer, who left the project in 2015, said: “I have a lot of faith in the Dogecoin Core development team to keep the software stable and secure...”

    “…but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over two years has a $1B+ market cap.”

  3. #53
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    Re: Official Cryptocurrency Thread

    ok heres my opinion on it-

    bitcoin is fucked and can have like a 20% transaction fee, super slow transactions and just over hyped. People who are investing now are riding the hype train (jesus fuck u ment to buy it when it cheap). These people (mostly young) have invested and purchased the said coin after they hear that someone (also young) is now a rich. Cryptocurrency is not that easy, it still requires work and those investing will likely make very little significant money

    There are far better alternative cryptocurrencies such as raiblocks (zero transaction fees and much faster. it is also ASIC resistant making it less controlled by the interests of powerful miners-unlike bitcoin, infact, it doesnt even require mining)

    of course now people are buying altcoins with little thought and investing in a few dozen (of which will make little money) due to the magic buzzword "altcoin"

    for the love of fucking god look into what you buy

    ok, rant over

  4. #54
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    Re: Official Cryptocurrency Thread

    Quote Originally Posted by shumphrey View Post
    ok heres my opinion on it-

    bitcoin is fucked and can have like a 20% transaction fee, super slow transactions and just over hyped. People who are investing now are riding the hype train (jesus fuck u ment to buy it when it cheap). These people (mostly young) have invested and purchased the said coin after they hear that someone (also young) is now a rich. Cryptocurrency is not that easy, it still requires work and those investing will likely make very little significant money

    There are far better alternative cryptocurrencies such as raiblocks (zero transaction fees and much faster. it is also ASIC resistant making it less controlled by the interests of powerful miners-unlike bitcoin, infact, it doesnt even require mining)

    of course now people are buying altcoins with little thought and investing in a few dozen (of which will make little money) due to the magic buzzword "altcoin"

    for the love of fucking god look into what you buy

    ok, rant over
    lol
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  5. #55
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    Re: Official Cryptocurrency Thread

    Quote Originally Posted by seremify007 View Post
    I'm still relatively new to all this but how are you guys actually realising your gains? Or is it all paper gain?
    - They're all paper gains until you sell it for $ in your bank acc.

    - There are many apps like blockify to monitor gains and losses across various alts. I don't recommend blockify tho (price updates are slow).
    Last edited by Neil_; 7 Jan 2018 at 9:22 PM.
    UTS Engineering 2018 | my crypto gambles

  6. #56
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    Re: Official Cryptocurrency Thread

    “Ripple is highly centralized & XRP is more akin to a PayPal account than a trustless system like bitcoin.... It's hard to come up with any rational reason why XRP exists in the Ripple protocol, other than as a means for Ripple to make money. Lots of money.“

    XRP, the Ripple token, is unlike any other crypto token in the market. It is entirely centrally controlled, operating more like an ETF unit than anything else since the issuer has the capacity to release or absorb (pre-mined) tokens in accordance with their valuation agenda. More egregiously though, the token plays little part in Ripple’s central business case. For the most part it’s just a cute add-on. A game, which for some unknown reason has become the central value proposition in the project these days. All very, very weird.

    That’s not to say Ripple didn’t want the token to play a central role in its business case, it’s just that their vision of XRP becoming a bridging or conduit currency through which liquidity providers would de facto offer seamless and cheap FX settlement services to the world never really caught on with industry. Yes, technically the potential is still there. But that’s not what Ripple’s banking partnerships are all about at all. They’re focused instead on messaging protocols (which record payments on a shared ledger) that compete directly with Swift and for which, we are told, tokens are not required.

    Okay. But what if XRP — “the bridging currency” — did become the central value proposition in the model in the future? Wouldn’t this constitute a truly innovative breakthrough?

    Not really.

    The bridging-currency proposition is centred on the idea of outsourcing FX settlement to third-party market-makers/liquidity providers, who have an incentive to step into the market whenever relative FX valuations are out of whack vis-a-vis XRP, thus reducing transaction costs.

    Ripple “the settlement tech” is thus arbitrage tech, highly dependent on the whims, activities and behaviours of its liquidity provider community. This means it’s partial to the same exact problems HFT suffers from: namely, the fact there’s no guarantee liquidity providers will always be around when you really need them. In FX this sort of solution doesn’t really cut the mustard. People want a dependable FX service, not one that’s subject to the whims of unknown third-party participants.
    https://ftalphaville.ft.com/2018/01/...ripple-effect/


    “Ripple Labs worth $US225 billion, tenth largest company by market cap in the world. Makes [co-founder] Chris Larsen worth $US55 billion tying Mark Zuckerberg as fifth richest man in the world.”

    “At one point in the 1989 Japanese real estate bubble, the Imperial Palace in Japan was said to be worth more than the entire state of California, things that don’t make sense don’t last ... be careful out there.”

    - Mike Novogratz
    Last edited by Graney; 8 Jan 2018 at 12:03 AM.

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    Re: Official Cryptocurrency Thread

    Ethereum transaction fees surge to average $2.50 usd, lol scalability.

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    Re: Official Cryptocurrency Thread

    Promising new ICO

    cosmo 2 likes this.

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    Re: Official Cryptocurrency Thread


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    Re: Official Cryptocurrency Thread

    The core reason why its still afloat is because its the main trading pair outside of the big 3.
    Quote Originally Posted by Spiritual Being View Post
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  11. #61
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    Re: Official Cryptocurrency Thread

    FOMO

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    Re: Official Cryptocurrency Thread


  13. #63
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    Re: Official Cryptocurrency Thread


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    Re: Official Cryptocurrency Thread

    Cryptocurrencies now have turned into a get rich quick scheme

    Back then people were investing because they were interested in its practical application, but now it's all about pumping and dumping

    Playing with cryptos is fine, but play with money you can afford to lose is all i have to say

    Play safe Personally I've moved away from crpyto trading but I still have a bit left from random mining sites I forgot I had

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    Re: Official Cryptocurrency Thread

    Store of value




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    Re: Official Cryptocurrency Thread

    I am particularly interested in Tether, possibly the biggest fraud currently occurring in Cryptocurrencies.

    Tether, traded as USDT, is closely tied to the exchange bitfinex, sometimes reported as the largest cryptocurrency exchange.

    Tether is a cryptocurrency whose unique gimmick is that it is advertised as having 1:1 exchangeability for USD. According to the Tether company, every USDT is reported to be backed by a real USD held in a bank account.

    The purpose of tether is to solve the problem of transaction delays between cryptocurrencies and the real economy, by enabling crypto traders to trade for a more stable asset.

    There is abundant evidence that Tethers claims of USD backing are fraudulent, no money backs Tether and bitfinex is printing Tether to push up the Bitcoin price and acquire bitcoin.

    For example, in the last 4 days, while the bitcoin price has been crashing, Tether has issued $350 million of USDT.

    A sceptical person would wonder who in the world would have used $350 million USD cash to purchase Tether in the last 4 days.

    http://www.livebitcoinnews.com/tethe...inues-decline/

    The current market cap of USDT I believe is $1.85 billion, although coinmarketcap is only showing $1.65 billion. This means, unlike other cryptocurrencies, the company Tether Limited claims to actually have at least $1.65 billion USD in bank accounts to be redeemed on request.

    No one has ever redeemed a single tether for USD, and there has never been an audit of their account. Tether Limited perpetually claim an audit is coming ~soon~.

    Could the printing of $1.65 billion of fake money have something to do with the recent rise in cryptocurrency prices? It's a mystery.
    Last edited by Graney; 18 Jan 2018 at 5:36 PM.

  17. #67
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    Re: Official Cryptocurrency Thread

    Probably no one is reading this, but I am using it as a place to dump things I read.

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