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Basically they need cashflow. If they'd just mine and dump it all for fiat, the prices would tank. This way they get fiat, they use the machines beforehand and get to fund the creation of the next batches. They're not as bad as everyone's making them sound, though. A lot of money is getting pumped into ecosystem because of that, mining setups are created around the world. Everybody wins. They win more, obviously.
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Even though it's got a fairly significant market cap, I just don't see the point to it. The community is dead. I'm looking on their sub on reddit and they're implying stuff like etc getting mentioned in some local newspaper from a third world country (no disrespect here) is worth getting all worked up about.
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Quite the opposite.. the only reason bitcoin is pegged to the USD is because that is the main way to obtain it at this point in time. Once the USD collapses.. people will have a choice.. continue using money that is worthless.. essentially driving us back to the stone age... Or they can leave the debt based system behind and adopt cryptocurrency as a main method of exchange. Dollars are nothing more than printed pieces of paper.. the only thing that gives them value is the fact we use them for exchange. Cryptocurrency can serve this exact purpose at a far lesser cost.. As more and more businesses adopt cryptocurrency.. the need to convert to fiat will become less and less. Bitcoins value has very little to do with the USD.. USD is simply the easiest form of valuation that we can currently comprehend. When it costs $300 for a loaf of bread.. and $1000 to fill your gas tank... It would make perfect sense for Bitcoin be worth millions.. even billions of dollars... although.. I see bitcoin as replacing the USD as a reserve currency... Instead of judging value in USD.. all things will be valued against BTC.. an actual/tangible store of wealth based on COLLATERAL.. not DEBT.. If you see Bitcoin as nothing more than an investment vehicle.. you will have a hard time comprehending this I'm sure...
Nah, I get where you're coming from. But we're still in uncharted territory here. I'm having a hard time seeing bitcoin as a savior in a potentially catastrophic event. I can see it gaining traction and being massively popular within 10-15 years, but not under such a stressful situation. In such an event, wouldn't the actual value of bitcoin be reset? Would a bitcoin still be worth a car that is now valued at 5xxx$? I think it would have to start from the ground up, wouldn't it? |
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Wouldn't crypto collapse along side it since it's pegged to fiat? Specifically USD?
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lol 100$ ... some peoples are just crazy , really crazy !
Yeah, you'd think that. But this is cryptoland, people are throwing money left and right. I've seen shittier coins have meteoric rises, and I'm not talking pnd. |
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Bitcoin is a pioneer. It's not about the money (maybe just a little bit), it's about the possibility to completely revolutionize our current economic system. Don't get me wrong, I'm not an enemy of capitalism. I actually think it comes naturally compared to all other economic systems. But it needs that extra touch of decentralization to shift the power from those that have too much, maybe turning the pyramid into something that looks more like a block. Pun intended.
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When someone promises you GUARANTEED returns in this business (or any for that matter)...especially 10% daily...Come on, how more obvious can it be?
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Same thing happened to a friend. I also heard about some people that have had their miners delivered to their facility and haven't heard from them since. I'm not one to bend the ear to every accusation out there, could be competitors or something, but in their case, with all the complaints, I think it's fair to say they're shady, at the very least.
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Day trading is very risky. I mean, I know a decent amount of TA, but in crypto TA is just useful on a short scale. Crypto is influenced by rumors, hence the saying "buy the rumor, sell the news". Trading analysis has little against a teenager with a lot of time that coordinates a fud attack on a particular coin (albeit, we're talking about smaller caps). I use TA for big coins, looking for entry points.
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Do you think the value of Bitcoin gold is priced into the price of BTC, thus we will see a drop similar to the value of Bitcoin Gold after the fork?
It will just be another shitcoin that tried to topple bitcoins. I don't think it will ever prosper and replace bitcoins as it is now. It will also just be free money for everyone holding bitcoins and that makes the whales a lot richer that it is now. I think it's becoming something of a profit generating scheme than just creating something good out of code. That's the sad truth about this. Amen. Truth be told, this trend of creating shitty altcoin with bitcoin in their name every couple weeks has me worried. It will confuse the hell out of people that are coming into crypto from now on. Alas, there's not much we can do but not use these shitty copies. |
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I'm torn between btc and eth. Given the roaring civil war haunting btc, I'm more inclined to lean eth's side. Buterin is also a big plus. I have a great deal of faith in him.
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For me, bitcoin and eth are the safest options. But when I got in the game I was very excited and I couldn't just watch grass grow. So I started playing with altcoins everyday. Day trading if you will. Learned a lot about it. Highly dangerous though. Lost a little when the crash caused by the chinese happened. So trading analysis isn't everything like some people claim, not when it comes to crypto. I'm into mining also, looking to build a decent farm with my friends. Maybe look into hosting miners for other people. Do what suits you best, each venture in crypto land has its potential risks and rewards.
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I had 1500$ worth of gold. Sold it for bitcoin and eth.
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What about cyber cafe's?
Most of the owner of cyber cafe dont know about bitcoins...if we can convince them about bitcoins then the popularity of bitcoins can be doubled..what's ur opinion?
Cyber cafes? Are those still around? Anyways, bitcoin is the type of product that HAS to sell itself. |
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I haven't looked much over it, but at first glance it did seem a scam. A coin you mine with your phone...but not really?
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Why not use a crypto debit card? TenX? Uquid?
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Like Bitcoin, it's a trend setter. The first of its kind. A big plus is the great leadership and devs. I'm still wondering why Vitalik chose to create solidity instead of implementing multiple languages like neo did, but regardless I have a great deal of faith in eth. Buterin will probably the one to deliver crypto into mainstream.
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Hopefully this leads somewhere. I just thought it's an xrp shitcoin double.
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Sounds kinda stupid, maybe they're just looking to test blockchain technology within a centralized environment.
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