cricket betting betway blog banner small
Page 4 of 8 FirstFirst ... 23456 ... LastLast
Results 46 to 60 of 113
Like Tree20Likes

Thread: Cryptocurrency

  1. #46
    Global Moderator Prince EWS's Avatar
    Join Date
    Jul 2003
    Location
    Cribbertopia
    Posts
    54,446
    Haha yeah I still have a fair bit. I hate myself when I think of how much I spent on Moldovan cigarettes for my parents though.
    Daemon likes this.
    Rejecting 'analysis by checklist' and 'skill absolutism' since Dec '09
    'Stats' is not a synonym for 'Career Test Averages'


    Quote Originally Posted by Jeffrey Tucker
    People go into politics to change the world. That's a bad idea. The only good reason to go into politics is to sweep government away so that the world can change itself.
    Quote Originally Posted by harsh.ag View Post
    Remember kids, only punch Nazis when they steal your bell
    Quote Originally Posted by Babar Hayat
    Chinese guy comes in

  2. #47
    Cricketer Of The Year StephenZA's Avatar
    Join Date
    Jul 2012
    Location
    South Africa / UK
    Posts
    8,018
    Last I read it had hit $7800 a bitcoin right?

    Quote Originally Posted by Uppercut View Post
    Thanks. It is literally worthless tbf, as is all fiat money. But the constant "bitcoin is dead" articles are pretty funny.
    As a non-economist or finance person... is not all money fiat money nowadays, because we got rid of the commodities? All money is based on the belief people show in its worth, which can be given more security by government. The only absolute control any person can have is direct barter for something you have for something you want.
    "Most of the great triumphs and tragedies of history are caused not by people being fundamentally good or fundamentally evil, but by people being fundamentally people "

    "The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they’ve found it."

  3. #48
    Request Your Custom Title Now! Uppercut's Avatar
    Tournaments Won: 1
    Join Date
    Jul 2008
    Location
    .
    Posts
    28,325
    Quote Originally Posted by StephenZA View Post
    Last I read it had hit $7800 a bitcoin right?

    As a non-economist or finance person... is not all money fiat money nowadays, because we got rid of the commodities? All money is based on the belief people show in its worth, which can be given more security by government. The only absolute control any person can have is direct barter for something you have for something you want.
    Mostly yeah, but there are still places where a commodity of value is used. Cigarettes in prison, for example.

  4. #49
    International Coach straw man's Avatar
    Join Date
    Apr 2006
    Location
    l
    Posts
    10,198
    Quote Originally Posted by sledger View Post
    Blockchain itself is more interesting than the Cryptocurrencies it supports imo.
    Probably. I also love that this much-hyped technology is at its core the least cool of all things... a database.


  5. #50
    Request Your Custom Title Now!
    Suicide Bob Champion!
    Join Date
    Aug 2010
    Location
    Not really needed on CW
    Posts
    27,938
    I'm fully sucked into this atm Been trading daily on Bittrex with alts and making stupid gains.

    I'm fairly certain only FOMO investing is keeping the prices up right now. It's got very low adoption rates and the market cap is growing at an unreal pace. Gone are the days when you'd get headlines about "X adopts Bitcoin as payment method". These days it's just "Bitcoin reaches new ATH" which tends to mean people are piling into it as a speculative investment tool rather than anything else (which I suppose is what's been happening for ages now).

  6. #51
    Request Your Custom Title Now! Uppercut's Avatar
    Tournaments Won: 1
    Join Date
    Jul 2008
    Location
    .
    Posts
    28,325
    Quote Originally Posted by Daemon View Post
    I'm fully sucked into this atm Been trading daily on Bittrex with alts and making stupid gains.

    I'm fairly certain only FOMO investing is keeping the prices up right now. It's got very low adoption rates and the market cap is growing at an unreal pace. Gone are the days when you'd get headlines about "X adopts Bitcoin as payment method". These days it's just "Bitcoin reaches new ATH" which tends to mean people are piling into it as a speculative investment tool rather than anything else (which I suppose is what's been happening for ages now).
    Yeah I've noticed this too. There are fewer and fewer true believers and more and more blatant Ponzi tactics. It feels like Wile E. Coyote has run off the cliff but hasn't looked down yet.

  7. #52
    Cricketer Of The Year StephenZA's Avatar
    Join Date
    Jul 2012
    Location
    South Africa / UK
    Posts
    8,018
    Quote Originally Posted by Daemon View Post
    I'm fully sucked into this atm Been trading daily on Bittrex with alts and making stupid gains.

    I'm fairly certain only FOMO investing is keeping the prices up right now. It's got very low adoption rates and the market cap is growing at an unreal pace. Gone are the days when you'd get headlines about "X adopts Bitcoin as payment method". These days it's just "Bitcoin reaches new ATH" which tends to mean people are piling into it as a speculative investment tool rather than anything else (which I suppose is what's been happening for ages now).
    While I agree it is artificially high I do think that it is being adopted and accepted more than people realize. There is a lot of people in less developed countries using bitcoin as a needed currency (i.e. Zimbabwe) and much of that has nothing to do with FOMO. That is unlikely to end any time soon.

    As I've said in previous posts, people have been calling bitcoin a ponzi scheme for years and financial experts have been saying it's going to collapse at any minute, but it continues to be more positively used than many thought it would be. Its biggest test will come when governments themselves start producing their own regulated but probably more stable cryptocurrency, people may move across to that because it gives more peace of mind.

  8. #53
    Request Your Custom Title Now! Uppercut's Avatar
    Tournaments Won: 1
    Join Date
    Jul 2008
    Location
    .
    Posts
    28,325
    Quote Originally Posted by StephenZA View Post
    While I agree it is artificially high I do think that it is being adopted and accepted more than people realize. There is a lot of people in less developed countries using bitcoin as a needed currency (i.e. Zimbabwe) and much of that has nothing to do with FOMO. That is unlikely to end any time soon.

    As I've said in previous posts, people have been calling bitcoin a ponzi scheme for years and financial experts have been saying it's going to collapse at any minute, but it continues to be more positively used than many thought it would be. Its biggest test will come when governments themselves start producing their own regulated but probably more stable cryptocurrency, people may move across to that because it gives more peace of mind.
    Is there data on this?

  9. #54
    Request Your Custom Title Now!
    Suicide Bob Champion!
    Join Date
    Aug 2010
    Location
    Not really needed on CW
    Posts
    27,938
    Quote Originally Posted by Uppercut View Post
    Is there data on this?
    Their only local exchange has had a volume of 173btc in the last 30 days. Peer to peer buying/selling are harder to track but https://localbitcoins.com/buy-bitcoi...ne/usd/paypal/ suggests they're not up to much either.

    Basically a drop in the ocean.

    Not sure about any other less developed countries using it as a currency.

  10. #55
    Request Your Custom Title Now! Uppercut's Avatar
    Tournaments Won: 1
    Join Date
    Jul 2008
    Location
    .
    Posts
    28,325
    Quote Originally Posted by Daemon View Post
    Their only local exchange has had a volume of 173btc in the last 30 days. Peer to peer buying/selling are harder to track but https://localbitcoins.com/buy-bitcoi...ne/usd/paypal/ suggests they're not up to much either.

    Basically a drop in the ocean.

    Not sure about any other less developed countries using it as a currency.
    Haha nice. It seems completely implausible that a developing economy would have the widespread technology and expertise required to use it, even if they for some reason decided an illiquid, ultra-volatile, deflationary currency was exactly what they needed.

  11. #56
    Cricketer Of The Year StephenZA's Avatar
    Join Date
    Jul 2012
    Location
    South Africa / UK
    Posts
    8,018
    Quote Originally Posted by Daemon View Post
    Their only local exchange has had a volume of 173btc in the last 30 days. Peer to peer buying/selling are harder to track but https://localbitcoins.com/buy-bitcoi...ne/usd/paypal/ suggests they're not up to much either.

    Basically a drop in the ocean.

    Not sure about any other less developed countries using it as a currency.
    I'm not saying is large but Zim is definitely using it...
    https://www.independent.co.uk/news/b...-a8056286.html
    And I find it difficult to believe that any country where the value of the local printed currency is pointless, and US dollars are difficult to come by, that Bitcoin (or some variation) would not be used.

    https://www.moneyweb.co.za/news/mark...rrency-tether/
    This sort of impact is a big potential issue, regards confidence.

    https://www.forbes.com/sites/panosmo.../#51d4e4cd1bfc
    China has a huge effect as well, because it is definitely used there for good and bad but it is a difficult thing to control.
    Last edited by StephenZA; 24-11-2017 at 10:20 AM.
    Daemon likes this.

  12. #57
    Cricketer Of The Year StephenZA's Avatar
    Join Date
    Jul 2012
    Location
    South Africa / UK
    Posts
    8,018
    Quote Originally Posted by Uppercut View Post
    Haha nice. It seems completely implausible that a developing economy would have the widespread technology and expertise required to use it, even if they for some reason decided an illiquid, ultra-volatile, deflationary currency was exactly what they needed.
    Even the most undeveloped countries still have the expertise to use, and wireless internet technologies has overcome many a infrastructural impediment in underdeveloped world. The question to ask is what is the benefit for those economies, and generally it is lack of stable currencies and overly tight government regulation which is easily bypassed by cryptocurrencies.

  13. #58
    Request Your Custom Title Now!
    Suicide Bob Champion!
    Join Date
    Aug 2010
    Location
    Not really needed on CW
    Posts
    27,938
    Quote Originally Posted by StephenZA View Post
    I'm not saying is large but Zim is definitely using it...
    https://www.independent.co.uk/news/b...-a8056286.html
    And I find it difficult to believe that any country where the value of the local printed currency is pointless, and US dollars are difficult to come by, that Bitcoin (or some variation) would not be used.
    Tbh it seems like Zimbabweans are also using it as a store of value for their savings more than for daily use. No idea though because there appears to be very little information besides anecdotes and "zomg bitcoins are 13k in Zimbabwe" type articles.

    The high price in those headlines are misleading because with such low volume on the exchange, there's very low liquidity and massive spreads.

    In any case, I agree it's adoption by merchants and users is increasing, but my point was that I don't think it's at a rate that justifies the bloated market cap.

  14. #59
    International 12th Man
    Join Date
    Jul 2011
    Location
    Australia
    Posts
    1,682
    I've bought some ethereum, litecoin and now some powerledger. Holding hard for a big pay day. Definitely counting on lite and powerledger to increase on value massively in another couple of years.

  15. #60
    International 12th Man
    Join Date
    Jul 2011
    Location
    Australia
    Posts
    1,682
    Bitcoins near the end of its lifecycle, it has a cap of 21m and currently 16m have been mined. Only 5m left so everyone's scrambling to buy before bitcoin mining ends in another 10 years.

Page 4 of 8 FirstFirst ... 23456 ... LastLast


Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •