patrick.net

Bitcoin consumes almost the same amount of energy as Ireland.

What happens to the blockchain when miners stop mining?

Onvacation says

Bitcoin consumes almost the same amount of energy as Ireland.

What happens to the blockchain when miners stop mining?

They use ripple instead.

Bitcoin is like the AOL of internet giants. Eventually people will get annoyed at it's built in limitations and use more utilitarian cryptos.

Newbie123 says

Sounds like Samsung’s betting on bitcoin to be around for a while longer.

Or they're supplying a demand.

HODL2Z!

Newbie123 says

physically delivered bitcoin

Please explain how you can physically deliver bitcoin. And while your at it, what is the intrinsic value of 0s and 1s?

Newbie123 says

any questions, concerns, disbelief regarding the article: Pls contact Reuters.

You could just say, "I have no fucking clue."

Still no answer on bitcoin's intrinsic value?

Newbie123 says

I can tell you the current value of one bitcoin

Do you even understand what intrinsic means?

Newbie123 says

no-coiners/bitcoin haters

Is that like a climate change denier?

Newbie123 says

No-coiners/Bitcoin haters

I'm not the one holding a string of 0s and 1s and thinking they are better than gold.

Onvacation says

Newbie123 says

No-coiners/Bitcoin haters

I'm not the one holding a string of 0s and 1s and thinking they are better than gold.

We are all guilty

CBOEtrader says

We are all guilty

So true.

It's a fiat world and things have value just because someone says so; beanie babies. What are our brokerage accounts but 0s and 1s on a computer somewhere.

Bitcoin is just the ultimate example of value just because someone says so. It has no intrinsic value. It's supposed extrinsic value is as a currency and untraceable method of exchange or an "asset" that they hope will increase in value.

They even "mine" cryptocurrency.

I know some people gamble with crypto with hopes of selling before the bubble pops when people see that "big daddy" is naked. Others think it is the best thing since sllced bread.

Consider this; the amount of money in crypto exceeds the value of all known silver in the world.
The following charts were from before bitcoin crashed so now the crypto to silver ratios are lower.

Newbie123 says

I can tell you the current value of one bitcoin (BTC): 7600 ish.

Why didn't you include the $ sign? I mean ultimately that's the currency you'll use and why you hope the "value" of crypto goes up.

CBOEtrader says

It? Ripple can exchange anything via their infrastructure. That's the point. Their exchange network is potentially a competitive advantage that can not be replicated.

Cool. It can't be replicated..... yet they're trying to do the same thing Visa does for credit cards. Hopefully Visa doesn't find out that someone is trying to do something that has been possible for a decade or so.... They probably couldn't replicate what ripple is doing at all... From their own website (which is a treasure trove of BS)...

XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa.*

https://ripple.com/xrp/

Then there's this

My XRP was stolen. What do I do?

https://ripple.com/faq/

Just call/contact the FBI... LO fucking L. Like they'll give a flying fuck.

Newbie123 says

Exactly! Wookie has been wrong on so many levels/topics.

Name one. Then explain why it's wrong.

Newbie123 says

The question is, Is bitcoin digital gold and will overtake physical gold some day?

After all, they have the same intrinsic value.

Newbie123 says

Interesting read. A former IBM executive believes Bitcoin will hit a 1mio dollar price per coin within the next decade. A member of PayPal’s board of director joins the prediction.

https://finance.yahoo.com/news/most-insane-1-million-beyond-193017764.html

You should change your name to Dodge123. Better fit...

WookieMan says

Newbie123 says

Exactly! Wookie has been wrong on so many levels/topics.

Name one. Then explain why it's wrong.

This was in context of suggesting physical infrastructure and/or code are easy to replicate. They arent, not even close.

Tha doesn't make you right/wrong about Bitcoin though.

Heres what we know for sure: 1)most of the world is looking for a replacement for the dollar . 2)dollars are fiat. 3) im-fucking-possible for gold to back transactions . Doing so would effectively make gold fiat, in that 99% of it's value would be for exchange of other goods not the value of the metal. 4)cryptos are the best thing we've invented so far to replace fiat dollars.

Conclusion : I'm keeping about 20% of my investments in cryptos, mostly ripple for the infrastructure they've built.

CBOEtrader says

4)cryptos are the best thing we've invented so far to replace fiat dollars.

I actually agree with all this. The unfortunate problem is our fiat dollar is backed by the US government. They can and WILL have a say in the crypto market at some point. And I don't imagine any regulation put in will weaken our own dollar. This is one of the many problems with crypto in my opinion.

Not you, but people are running around thinking Trump is going to be a fucking dictator. It won't ever happen. The thought that any crypto will be a viable currency to overtake the dollar, with no US interference is laughable. It's a similar line of thought.

As I've said before in other threads on this topic. Gain massive wealth if you can from it. I'm a decent guy and have no interest in seeing people suffer or lose money. If I'm wrong about my opinion, I'll be the first to admit it. But I can almost promise you, at least with Bitcoin, that if my kids live to 80 years old, it won't exist. Most of them won't.

Make money while you can with it. Trust me, I wouldn't turn down a $2M a year job if it worked out, but if I had to bet a decent chunk of my savings, count me out. As an about to be 36 year old that doesn't have to work, I think I've made some decent decisions (no family wealth/inheritance).

CBOEtrader says

I'm keeping about 20% of my investments in cryptos,

How much physical PM in your portfolio?

Someone's about to Win Bigly. WHEN?

Newbie123 says

You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.

Show us your fucking strategy via screenshots of your trades and holdings.

Hugolas_Madurez says

Newbie123 says

You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.

Show us your fucking strategy via screenshots of your trades and holdings.

Pretty sure it's a bit at this point. It's not trolling, as usually a good troll will come at you with some sort of fact or something even if it's wrong. That's not the case here. I'm not sure why I've wasted so much time on this thread... Oh well, mistakes happen. The red flag is when some moron says "to the moon" and then it's an exercise in retardation. He's dodged every single question asked of him.

WookieMan says

I'm not sure why I've wasted so much time on this thread..

You can't waste time or money, but you can misuse them.

We are trying to educate the ignorant. It is one thing to gamble on cryptocurrency in hopes that it will turn a profit, but if one thinks all of the worlds governments will allow fiat bitcoin to supplant their fiat currency they are in for a surprise.

Why is crypto valued in fiat?

Onvacation says

CBOEtrader says

I'm keeping about 20% of my investments in cryptos,

How much physical PM in your portfolio?

About $5 k only. I don't want to deal w physical. If I had $25 million I'd probably only have $50k of physical.

Thoughts to contrary?

CBOEtrader says

Thoughts to contrary?

Traditionally, 10% of your net worth should be in PM to hedge against disaster. Guns and bullets would be a good idea too.

I recognize you as smart and thoughtful. Why would you gamble with 1 out of 5 dollars of your net worth on something as ephemeral as crypto?

Are you gambling?

Do you think it will become a valid and efficient method of exchange?

FOMO?

It's the best thing since sliced bread?

As a computer scientist I just don't understand the attraction to crypto.

Newbie123 says

To The Mooooon

Spam. Not very sophisticated spam, but spam.

Bitcoin is becoming the new "Gold to $20k/HAARP/Bigfoot" Crankery "Tell".

Newbie123 says

Bitcoin more popular on google trends than trump, Tesla and Kim Kardashian! I am not surprised. Bitcoin is much more exciting than all those three combined :)

Or maybe a bunch of bitcoin cucks keep checking for the moonshot.

How long since you last checked the price?

Newbie123 says

Would you rather have 1mio US dollar worth of gold or 1mio US dollar worth of bitcoin at the moment?

I will take the metal. You can keep your 0s and 1s.

Newbie123 says

Bitcoin has the potential to pull a 5-10x within the next few years. Try that with gold.

Which one is more likely to go to zero?

Oh yeah, you don't answer questions.

Newbie123 says

Rofl!! You just keep praying, hoping and wishing bitcoin will go away(zero).

What makes you think that?

No one ever underestimated the ignorance of the public.

So
Onvacation says

Newbie123 says

Bitcoin has the potential to pull a 5-10x within the next few years. Try that with gold.

Which one is more likely to go to zero?

What do you think? Is gold more likely to lose all value or crypto? You can answer honestly and still BELIEVE in crypto. It's more of a cult than a religion.

Newbie123 says

Historically that caused the price of litecoin to increase tremendously. A short term investment opportunity?

What will crypto be valued in when it replaces "fiat"?

Crypto is a ponzi scheme that requires ever greater fools to "invest" so that earlier buyers can profit. The ridiculousness of solving difficult hash problems and call it "mining" is lost on the rubes. Like tulips and beanie babies, cryptocurrencies will join the ranks of "what were they thinking?"

Onvacation says

What will crypto be valued in when it replaces "fiat"?

Gold backed cryptocurrencies are interesting, but you still have the problem of who holds the physical asset. Some sort of "distributed Fort Knox" where you have to produce the PM on demand could act as a sort of currency for global payments.

Newbie123 says

crypto is just a greater fools game and ponzi/pyramid scheme?

Bitcoin and the other cryptos are the ponzi. A bunch of companies jumping on the crypto fad is a sign of the times.

I repeat, bitcoin is just a sequence of 0s and 1s stored in a special storage device which some "Miners" created by solving complicated math problems using large amounts of computing and electrical power.

People claim to trade "fiat" for Bitcoin because it is the "Currency of the future" but to spend it they have to convert it back into fiat. Fiat money by definition is inconvertible paper money made legal tender by a government decree. Bitcoin is not fiat because it has no government backing and no protection from thieves and conmen.

And please don't tell us again of the decentralized nature making it above national law. You paid your taxes on your bitcoin earnings; right?

Others hold bitcoin waiting for the "moonshot". They plan on throwing off a couple coins for a new lexus when it goes to 50k but otherwise they will continue to buy and HODL(Hold On for Dear Life) until they can retire in splendor on their earnings.

Then we have the gamblers. They hold a little (or a lot) hoping to get out when they make their fortune or break even for those that invested in the top.

Big Daddy got no clothes. All holders cashed in for fiat and expect to cash out for more fiat.

Its an expensive gamble that does have some benefits to society. There is a brilliant hacker who right now is probably exploiting security holes in wallets and the open source code. hardware engineers are making faster machines that can crunch more numbers. The cryptocraze has advanced the art of computing.

We, or at least me and my mouse have pretty much given up on you being educated.

Again, good luck. HODLing may kill you.

Onvacation says

People claim to trade "fiat" for Bitcoin because it is the "Currency of the future" but to spend it they have to convert it back into fiat.

XRP never turns into dollars. commodities and other tradable products will transact via XRP entirely within it's instantaneous trading network.

This is a vast improvement over how money, stocks, or anything else is exchanged today.

I will ride BTC for the trends. I am buying XRP for the infrastructure. It is a legit value proposition with real infrastructure that can not be replicated.

Newbie123 says

Bitcoin at 12.1k!!!!

Price theory suggests we test the 2017 highs. Expect a bumpy ride ahead.

BTC is highly susceptible to trends. I will put on a large long bet as BTC crosses new highs around $20000. I'm less interested in buying BTC here until I see that price action follow through.

I much prefer XRP as a hold.

Newbie123 says

CBOEtrader,
Do you have targets yet? Exit strategy?
If XRP reaches its ATH’s do you start scaling out or keep holding?

I take some profits every time we set a new high, but I try to buy it back lower.

Scalping is dicey w these trending cryptos though. I'll successfully scalp 3 - 5 times, then give back most of those profits in missed gains from a blowout trend. End result is I have good price action knowledge, better understanding of how cryptos trade, but not really a ton of extra profits.

This is my only large speculative bet. I will probably hold my 10% portfolio investment until it is >50% of my portfolio, then take profits and hold 20% of my risk max in XRP.

If it goes to zero, so be it. I like this bet.

CBOEtrader says

I will ride BTC for the trends. I am buying XRP for the infrastructure. It is a legit value proposition with real infrastructure that can not be replicated.

I like your more balanced view and approach versus Newbie. Haven't done much research on XRP, but I'm understanding now what you've commented on this a little more but am still looking into it.

My question though is if it's created, how can it not be replicated by someone else? I get it could be proprietary, but anything regarding digital transactions is simply numbers, letters or symbols. I'm being honest that I don't understand how it can't be copied.

Newbie123 says

Weird, haven’t we heard from wookie and onvacation that crypto is just a greater fools game and ponzi/pyramid scheme?

This will probably be my last comment directed towards you. You comment like an uneducated child here. I don't say that to be personal, but it's what you look like to most educated people. You don't answer any of the questions asked of you and are link spamming multiple threads in my opinion. If CBOE thinks I'm an idiot for asking the above question BUT actually answers it, and frankly could be a dick about it if he wants to, AT LEAST HE ANSWERED A FUCKING QUESTION!!!

You seem easily trigged by this topic. Your comments reek of desperation that someone is holding a $19k bag from the last run up. The common person WILL get crushed in crypto. Just like most uneducated stock traders do. You're playing a game of Russian Roulette except you're standing in a circle with your backs to the guy pulling the trigger and you don't even know it.

And you are actively seeking out and posting only positive articles. From suspect sources. You have zero authority on the topic. There's no balanced approach to what you're doing. You can't even have an intelligent debate on the topic that's so near and dear to you. You're a bitcoin/crypto fan boi and it will come back to bite you. The bitcoin millionaires were the guys that had a couple hundred held from $5. You will need it to go to $500k before you get those kind of returns. You have FOMO, just make sure you get it under control.

Newbie123 says

When Bitcoin Is going parabolic

Do you know what a parabola looks like?

No coiners wanna know.

WookieMan says

My question though is if it's created, how can it not be replicated by someone else? I get it could be proprietary, but anything regarding digital transactions is simply numbers, letters or symbols. I'm being honest that I don't understand how it can't be copied.

https://ripple.com/insights/exploring-innovation-payment-system-infrastructures/

https://www.tronweekly.com/ripple-central-banks-imf-connections-hints-explanation/

XRP is the establishment's crypto. At least, that's how it is described by the crypto-weirdos. I like betting on the establishment when possible. In this case, XRP has recruited a broad membership of central banks who are already using it for international exchange.

The software itself could be copied, in the same way BTC has a publicly available white paper. However, this XRP "infrastructure" is more like a central bank and international commercial Bank exchange social network.

Another crypto group won't catch up to their momentum. They have dozens of central banks on board already, all of them will be making $$$billion exchanges using XRP as the underlying exchange unit (XRP being the currency used in their exchange network).

The XRP bet is this: "The central idea is still built around an international non-national currency, and XRP could just fit the bill. It already does in most ways. The IMF acting together with the World’s Bank as a central bank for central banks could use XRP as a settlement means between the banks of the world while keeping balance along with bilateral relationships.

Mrs. Lagrade didn’t come out and spoke overtly about XRP adoption, but she espoused a series of ideas in which XRP could fit perfectly as the system’s working currency. Besides that, Ripple is already working alongside 40 or 50 of the world’s central banks so it’s already developed a collaborative network that would allow it to take center stage if the old Keynes plan should become an option (again) for the IMF.

The IMF’s leader has singled out Ripple in the past (calling it a disruptor, for instance) above other digital assets which shows that she’s very well about Ripple, its technologies and its currency.

So it would only make sense for the IMF to take advantage of Ripple (XRP)’s already developed networks, technology, and reliability to bring forward the next world’s financial system. And the IMF’s head seems to be keenly aware of this"

Newbie123 says

Now that bitcoins keeps going up and up and up and up.....and up and up and up.....you start reversing course. Wouldn’t be surprised if you start buying in at the top.

Lol. I won't buy any. My investments/businesses do jusssst fine. So fine I've been taking the last year off at 36 years old having fun and not worrying about watching numbers trade all day in fear of my financial future. Hanging out with the kids, traveling, etc. Have fun buying your numbers that are enormously volatile. I'll have fun with people paying me $$$ not to work. I can lay down at 10pm and wake up at 7am knowing my money is just fine.

CBOEtrader says

Another crypto group won't catch up to their momentum. They have dozens of central banks on board already, all of them will be making $$$billion exchanges using XRP as the underlying exchange unit (XRP being the currency used in their exchange network).

Got it. So it's in a sense market share lead in the field really, right? Similar to companies chasing the iPhone to relate the idea to a product. They were the front runners (not necessarily creators for the apple haters) in the tech for touch screen phones and it's difficult if not impossible to knock them off their perch. XRP has locked up their deals with big banks and any competition is too far behind to make it worth it for banks to switch to something else now that they're using it. Basically a successful launch of something that is too hard to catch up to (replicate/duplicate) for the competition.

CBOEtrader says

At least, that's how it is described by the crypto-weirdos

Newbie - balanced approach right in front of your eyes. Know you're investing in the unknown and own it. I will research crypto and learn about it, I know my limitations as my skills are faaarrrrrr better suited making money other ways. Keep applying your crypto "knowledge" of going to the moon and have fun. I know which bank account will have more numbers ;) eeerrrr I mean $'s at the end of the day.