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I think its a gross generalization to say they are against bitcoin. They are against risk, and for protecting customer's money. That is the principle they were created to endorse.
They are working on their own solutions utilizing blockchain. For instance, they are using blockchain to wipe out SWIFT (the ultimate middle man) and to even create some of their own coins. Many of the biggest banks, including JP Morgan whose been the most critical publicly of exuberance and investment, has been working on Quorum, releasing a 2.0 version that is closely aligned with Ethereum.
They are being protectionist, and to some degree maybe overdoing it to underscore their own value, but banks are definitely working closely with the technologies to make sure they are part of this ecosystem as it unfolds.
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There are several factors that are affecting the rapid rise and fall we are seeing in the crypto market. Most come down to basic economics. - Volume. In relative terms, there aren't THAT many people trading. We are talking 1996 levels of adoption for the internet are trading crypto. So, pumping and dumping activities by a few large actors can skew the system very quickly. Also, when huge communities like those celebrating the Chinese New Year for the past few weeks go do things with family and aren't as active, it makes it even easier for swings. As we get more people online, we will see volumes stabilize more and more. - Regulation. The fear, uncertainty and doubt (FUD) from large nations like China, South Korea, and India—not to mention the US—as they place undetermined regulations or clamping down and exposing frauds will cause some folks to sell off, and restrict large populations from participating causing swings in volume. This is expected growing pains as the market hardens itself. Ultimately, smart businesses will figure this out, and will create such a demand, governments will have to figure out how to make it work for them. Japan and Gibraltar and Dubai are already doing this. We see success there, and other governments will learn and adopt as well. - Exuberance. People talk about Tulip Mania, or the dotcom bubble like they were reasons to abandon growth industries. Do we still use tulips or the internet? Yes. Of course, and blockchain and cryptocurrencies will be no different. A correction to tame all the wild ideas that do not have the benefit of a true business case need to be culled. That is happening now. I saw that Binance says it is getting over 4000 applications for ICOs every month and a handful are getting through. They are acting as quality assurance gates to vet real business plans and protect investors from people that don't really know what they are doing or don't really understand this economy—they think of ICOs as a easy way to raise money, but have a low potential from making that investment worth something that benefits this economy. We are seeing a shake out of those poor actors now, and we are getting smart really fast to curb their exuberance with real business acumen. This happened not too long ago with the dotcom companies, and I think it will happen even faster now, as we understand tech much better. To figure out these on your own, you will have to do your own due diligence and find out more about who you are investing in—same as stock market investors. Whose behind it? What is their track record? Why does it make sense for blockchain? Is there an economy with actual reasons for velocity (constant buys and sells) to drive the markets up? Also, what markets benefit from the project? We see that the best investments are still in blockchain infrastructure, finance and gaming ( https://twitter.com/Obj_Cloud_Labs/status/954471637285556237). These are the three main areas that build value and stability to the whole ecosystem—its the tide that floats all boats. - Global markets. Friday saw a spike in the interest rates that set the stock market plunging. These factors affect everyone, including crypto markets. If the stock market is doing well, all investment will do well. If the global mood is to be conservative, that will affect cryptocurrencies even more as our volume is still relatively low. - Enterprises. This is the reason I think it will bounce back. Enterprises are adopting blockchain technologies for real business cases. There was a great article this week https://www.coindesk.com/enterprise-blockchain-may-finally-ready-breakout/ citing how enterprises have done their due diligence and are bringing online real services. Depending on how they do it, this has the potential to introduce HUGE volume to the blockchain infrastructure, while building confidence and enterprise investment in the technologies. This paints the picture that investment here is a long haul. You can't invest and expect to have consistent returns in weeks or months. But, if you invested in Google or Apple in 2000, you'd be very happy today. The same is true with many of these companies emerging today on the alt-coin market. So, if you are investing, do your homework. Understand how it all works. Be ready to do some long term investing and keep tabs on if your investments are really doing what they say. Blind bets may pay off, but could cripple you too. The only way to help improve your odds is to do the work to understand what you are investing in, and that means looking at the big picture. |
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Do people born into money deserve it? Literally all they did was plop out of a wealthy womb. What have they done to deserve this?
Life is sometimes about luck, that is just the way it is. Stop twisting yourself up about who has what, and enjoy your own ride. No one has exactly what you have.
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My advice is to follow the open source mentality. Give away baseline training for free. Build a following and a reputation for a good service, and a community that gives you feedback. Then for advanced courses, you can charge. People will have seen "samples" of your work, and will trust you are for real.
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Likely not. You'll lose a fair portion of your investment paying gas for the transaction. Save and get a couple hundred dollars and make it worth it.
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... three months later China Daily reports China to launch its own cryptocurrency for the world.
China is trying to make it difficult for illegal orgs that have lots of power there. But China is China, and they know this is a big thing. They will make crypto work for them, don't worry. It's just a matter of time.
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This is a period of uncertainty because of regulation scares and a few bad actors. The reality is behind the scenes, blockchain technologies (primarily powered by bitcoin and ethereum) are gaining mass adoption and are primed for rollout by massive enterprises. When this happens (likely 2019) there will be a substantial gain in volume which is bound to increase the value. Check out this article from this week by coindesk citing how big this in industries like banking and insurance. https://www.coindesk.com/enterprise-blockchain-may-finally-ready-breakout/ |
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Its not as straightforward as you think. Exchanges are now flooded with requests, and *if* you hear from them, I am hearing it is ~6 months out to get a slot, and if you announce the date, they drop you. Its all very weird, but my guess is they are trying to discern more what ICOs are good, bad and ugly and trying to filter to avoid a dotcom bust like opinion of blockchain businesses. It makes sense, and puts the onus on the marketing and business plan to be rock solid. The CEO of Binance wrote a post underscoring this recently: https://www.linkedin.com/pulse/binance-listing-tips-changpeng-zhao/I have done a bit of research and it seems that the only unpermissioned exchange is EtherDelta. For more on custodial vs non-custodial exchanges and what that means I recommend reading this EverCoin blog: https://blog.evercoin.com/custodial-vs-non-custodial-exchanges-1890996401bd |
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I usually invest what I have in my savings that I don't need to touch for at least 6 months. Usually it is around 2-3 ETH. Poll won't let me vote for some reason though.
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If ETH arrives at $10,000, isn't that close to the value of bitcoin? I think it might be hard to do that this year.
Bitcoin wont be staying at that price for too long mate. If you are predicting Ethereum value then think of Bitcoin value too. I think 10000$ price is predictable for ETH value with the trend going on with new ICO's The ICOs are certainly adding value, but within the number of people investing in crypto first. A lot of the big banks and insurance companies (healthcare, energy, etc too) are planning on coming online in 2019 or late 2018. When large businesses force volume from people not already on it, I think then the demand will skyrocket, and so will the price. |
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The lightning network had about 189 nodes up yesterday and someone at an Atlanta meet up predicted in about 40 days it would have enough connections to equal the volume of BTC transactions, speeding up BTC and assuming adding real value into the LTC network. How long before LTC gets a run up? Will BTC get one too?
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Ethereum has a high adoption rate by big businesses, and as they start to deploy on it, it will raise its volume and demand, driving the price higher. It is most likely that it will appreciate substantially over the next 12-18 months as these networks and their huge user bases come in to production and the true utility of ETH is unlocked. Short term - the market is still moody, but as projects go live and the Chinese New Year holiday ends, I believe we shall see some significant growth.
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There was a headline today via Reuters citing ICOs are being hit by attacks from cyber criminals 100 times a month on average. Moscow-based cyber security firm Group-IB analyzed 450 attacks on ICOs in 2017 and found that attacks increased tenfold over the period. In total of the $3.7 billion raised by ICOs to date, $400 million of that has been stolen by cyber criminals. Among the most common attacks on ICOs are phishing attacks, where cyber criminals try to steal login credentials via spoofed emails and websites. https://www.fastcompany.com/40520989/initial-coin-offering-projects-are-a-magnet-for-cyber-criminalsAre these people just sending their own wallets to have people send money or are they actually hacking the contracts or company wallets? Can you all share some stories of what happened and the damage? |
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Join Reid Bishop at Bitcoin (BTC) vs Bitcoin Cash (BCH)
Wed Jan 24
6:30 PM ‐ 9:30 PM
Atlanta Tech Village
3423 Piedmont Rd NE, Atlanta, GA 30305, 1, Atlanta, GA
There's been some confusion on the differences between Bitcoin and Bitcoin Cash now that Coinbase is trading both of these cryptocurrencies.
We will start with a history that led up to Bitcoin Cash. Then have a friendly style debate.
AFTER PARTY: Twin Peaks Next to ATV. 2nd Floor.
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Certainly speculation over whether China will allow mining and how South Korea intends to regulate their market has directly correlated to rises and falls in $BTC. That said, the entire region is on their holidays right now. Literally billions of people are travelling, visiting family and celebrating the new year. In the US, during the Christmas week, it is not uncommon for businesses to lose 50-75% of their traffic as people take off and pay attention to their families. Every year, world markets take a similar dip, and come back when we are all back to work! I think now is a great time to buy.  |
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Seems appropriate that the top categories are feeding the blockchain ecosystem and supporting financial transactions, with gaming lurking in the middle. What will be the next breakout category?  Blockchain Service $1,240,114,536.00 Finance $558,847,331.00 Trading $437,967,358.00 Blockchain $288,183,289.00 Currency $243,466,983.00 Gaming $153,718,950.00 Network $144,931,339.00 Marketplace $132,929,387.00 Mobile $113,915,482.00 Smart Contract $113,068,738.00 |
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I think the simple answer is: 2018 will be Blockchain's year.
Bitcoin was the lighthouse application that got the media's attention in 2017 and inspired lots of enterprises (with FOMO and disruption claims). This year we will see enterprises using blockchain for real results, and in return will feed bitcoin's value. Once enterprises are suffering at the slowness of the bitcoin network, they'll pony up to help accelerate its speed as their business and wallets depend on it.
Its the circle of blockchain life that will feed and nurture itself with actual adoption.
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