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3041
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Economy / Games and rounds / Re: sat.oshi.xyz - Roulette strategy discussion
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on: September 28, 2015, 10:44:01 PM
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The only way to beat any gambling game is to have very deep pockets, that way you keep throwing money without worry and eventually you can reach your desired amount.
The problem with this is that the human factor can't be taken out of the equation. It's perfectly possible to double your money easily with deep pockets unless you are on a really bad streak from the start. The problem is not only cashing out at the right moment, but vow to never ever gamble again.
We all know that will never happen, winning makes you think you can do it again and it will never be enough...
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3042
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Alternate cryptocurrencies / Altcoin Discussion / Re: How many altcoins do you hold?
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on: September 28, 2015, 03:37:24 AM
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I currently have Monero, DigiByte and Gemz. Honestly I don't think any altcoin is going anywhere once I started checking them in depth, they are nice projects but that's it Only Bitcoin has a (long)shot. I have very little money invested in these ($20 total I think) so I'm not really worried. Any suggestions?
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3043
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Alternate cryptocurrencies / Altcoin Discussion / Re: The prisoner's dilemma of altcoin development: It's time to join forces.
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on: September 27, 2015, 08:37:29 PM
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It reminded me about the Idris Elba speech on Pacific Rim "Today we are cancelling the apocalypse!". Other than that I own some bucks in Monero, and currently two other altcoins besides a very small amount of Bitcoin.
Can you please really explain to me, an average person, a tech savvy designer with absolutely not technical knowledge what's the benefit of Monero? I as an average guy don't care at all about privacy or anonymous data, it's all out there and there's no new world order and if there is it will shutdown Bitcoin in a second. Plus, I've never encountered any problem with digital fiat money, credit cards or Paypal or even banks, they never robbed me, that's all I care.
Anyway, tell me how my parents, my girlfriend or my children will use it instead of the already "established" Bitcoin? I don't care about tech aspects, we all know there are plenty of superior products and services out there but instead we live in a world ruled by big companies, countries and monopolies. It's how it is. I'm not being ironic or rethorical, I really want to understand what's the purpose of all these altcoins that Bitcoin cannot do for the average person. Thank you and sorry for the long post.
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3045
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Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum
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on: September 22, 2015, 12:19:55 AM
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Most people into crypto also negates that many of the problems of the current economic system are at the same time very much needed. That's why Bitcoin had plenty of scandals and there are a lot of scam sites, suspicious gambling ones, etc. It's not regulated alright, but that also is a huge problem for people to really adopt it. Also I'm tech savy (graphic designer), I may be not a developer or engineer but buying Bitcoin was extremely frustrating and time consuming to say the least. Who wants to have these problems when there's Paypal and Credit Cards really?
Like smooth said, Snowden uncovered some ugly truths and nobody even recall his name, what he did or who he is but they do know who Bradley Cooper or Kanye West is though. My point is, for 99% of the people would be much more important to use Bitcoin to get the last Kanye West album than to hide from a 1984 Big Brother Government.
I really don't understand what's the big deal about the government having access to my financial records unless I'm a gun dealer (and we don't even know if they do, at least not in my country).
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3046
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Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum
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on: September 22, 2015, 12:07:14 AM
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That's why I link Bitcoin future more to digital goods, media, entertainment and maybe small services (sort of how Paypal started with eBay). Not as an actual currency where you can buy an expensive car or ask for a huge loan. It's not really needed for that, it's needed for it's quickness and ease of use in my opinion.
Paypal has quickness and ease of use. Ease of use is probably better than any crypto since you can "send money to an email address". You can also set up recurring payments, which current cryptos also can't do. For digital goods, small businesses, etc. it serves their needs almost perfectly. The only thing it doesn't have (which most users don't care about, as discussed in the last few posts) is independence from the existing banking system. Yes exactly, but Paypal transactions are very expensive in many parts of the world, that it's only problem, plus the need for credit cards to fund it (which is basically the same for buying Bitcoin, which is very difficult if you are not in the US, plenty of people had been scammed. I've used VirWox and while the fees were ridiculous the service was very fast. Anyway we are both saying the same thing. I guess there's always the chance that one of these alternative coins/startups is bought off and one can make some money, does this ever happened? I have some dollars on GEMZ coins for example, even if they get acquired or their app explodes I don't think I would make any money off it. |
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3047
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Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum
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on: September 21, 2015, 11:03:34 PM
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Like others said, you can discuss all you want about the technical aspects of a new coin, but the main an most important issue remains and it's an old one. To make actual people using it and go full mainstream. Security is even something minor in priority, there is credit card and bank fraud everyday with the actual system.
This is similar to what happens with the PC and MAC if you want. We all know Wozniak and others invented the technology but as amazing as it was, it needed a visionary to bring it to the masses. For that to happen, you need to make deals with Google, Amazon, Microsoft, Facebook and Apple. People will embrace Bitcoin or whatever cryptocoin they implement, that's it. Or they will create their own, which is most likely and that will be the one.
Bitcoin is like Napster if you want, Apple or a company like that will see the potential when it fits and create iTunes. But that took A LOT of impossible deals with the labels music industry moguls.
Somewhat reasonable analogy but as I recall Napster got literally nowhere where with big companies, and there certainly was not an entire nascent industry of VC-funded companies building around the Naptser ecosystem, whereas Bitcoin at least has some support from large companies (for example you mentioned Microsoft, which accepts Bitcoin) and many startups are building on Bitcoin, and this can really only be said to a significant extent for Bitcoin specifically (i.e. see above "to scale" list). Whether that is enough to not get replaced by iTunesCoin is hard to say, but the differences with the Napster experience are certainly there. I understand the comparison is not perfect nor fair. However Napster had the piracy issue, their reputation was tainted. Bitcoin also has this to a much lesser extent, but really the average person doesn't care that it's "anonymous" or decentralized, for god's sake, they use Google and Facebook all the time. It just need to be somewhat secure, cheaper and easy to use. Bitcoin and others already have these features. To me it is inevitable that a major player will come out with it's own coin/currency and the rest are doomed. It can be sort of a subscription and small limit plan too, kinda like store credit but that can be accepted and used in many places. If you have some extra iCoins, you can pay Spotify with that or renew a Netflix subscription. Well look I think the existing payment methods are somewhat secure, cheap, and easy to use. Netflix, Spotify, etc. have how many subscribers? Amazon has how many customers? Somehow these people are getting along fine without Bitcoin. They don't miss it at all. That's not even true for Napster. Napster had far more pull demand from (most) users than Bitcoin/crypto ever has, the latter being more of a solution in search of a problem. Exceptions maybe being things like online gambling (including coin speculation as a sort of gambling game) and online drugs. There is a context here. When satoshi built and released Bitcoin it was in the wake of the 2007-2008 financial crisis and there really was a desire for something better. Outrage over bailouts, Wall Street bonuses, etc. was mainstream. Strong hatred of banks and bankers was common. Even many in the power elite were open to alternatives. There really was a sincere and widely-held feeling that the system was broken. That was nearly a decade ago and much of that is gone. There are some low-level concerns, but the average Joe no longer gives a shit about banking one way or another. Politicians no longer mention it. The problem that Bitcoin was largely intended to solve no longer exists from the perspective of people who would need to adopt it. If and when the pendulum swings back, then crypto will have a chance to actually do something useful. Until then, Bitcoin is languishing and all the rest have no chance at all, outside of the speculation game. Yes I agree and I understand how Bitcoin came to be. Every 10 or 15 years there is an economic crisis of sorts so maybe in the next 5 years if Bitcoin is still alive can take advantage of the next one, that I can see as an option for it to go mainstream. I completely agree that the average joe doesn't care about it when things fine. So in order for Bitcoin to thrive and survive it needs some crisis or change of paradigm in both democracy and capitalism if you ask me. I don't see banks having the same power as once had, they are a dying breed in terms of what they used to be, now there are plenty of other options all over the world. Also I don't buy into the whole "banks are bad", they didn't scammed anyone, it was the people that didn't use common sense and enter a life of debt that was illogical to maintain. I'm not defending bankers because there was clearly some ethical issues behind the bubble but really, if I'm not a criminal, I don't need to make anonymous transactions, and no bank has ever robbed me perse, the risks were there and people took them. That's why I link Bitcoin future more to digital goods, media, entertainment and maybe small services (sort of how Paypal started with eBay). Not as an actual currency where you can buy an expensive car or ask for a huge loan. It's not really needed for that, it's needed for it's quickness and ease of use in my opinion. |
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3048
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Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum
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on: September 21, 2015, 10:16:44 PM
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Like others said, you can discuss all you want about the technical aspects of a new coin, but the main an most important issue remains and it's an old one. To make actual people using it and go full mainstream. Security is even something minor in priority, there is credit card and bank fraud everyday with the actual system.
This is similar to what happens with the PC and MAC if you want. We all know Wozniak and others invented the technology but as amazing as it was, it needed a visionary to bring it to the masses. For that to happen, you need to make deals with Google, Amazon, Microsoft, Facebook and Apple. People will embrace Bitcoin or whatever cryptocoin they implement, that's it. Or they will create their own, which is most likely and that will be the one.
Bitcoin is like Napster if you want, Apple or a company like that will see the potential when it fits and create iTunes. But that took A LOT of impossible deals with the labels music industry moguls.
Somewhat reasonable analogy but as I recall Napster got literally nowhere where with big companies, and there certainly was not an entire nascent industry of VC-funded companies building around the Naptser ecosystem, whereas Bitcoin at least has some support from large companies (for example you mentioned Microsoft, which accepts Bitcoin) and many startups are building on Bitcoin, and this can really only be said to a significant extent for Bitcoin specifically (i.e. see above "to scale" list). Whether that is enough to not get replaced by iTunesCoin is hard to say, but the differences with the Napster experience are certainly there. I understand the comparison is not perfect nor fair. However Napster had the piracy issue, their reputation was tainted. Bitcoin also has this to a much lesser extent, but really the average person doesn't care that it's "anonymous" or decentralized, for god's sake, they use Google and Facebook all the time. It just need to be somewhat secure, cheaper and easy to use. Bitcoin and others already have these features. To me it is inevitable that a major player will come out with it's own coin/currency and the rest are doomed. It can be sort of a subscription and small limit plan too, kinda like store credit but that can be accepted and used in many places. If you have some extra iCoins, you can pay Spotify with that or renew a Netflix subscription. |
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3049
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Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum
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on: September 21, 2015, 09:48:03 PM
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Like others said, you can discuss all you want about the technical aspects of a new coin, but the main an most important issue remains and it's an old one. To make actual people using it and go full mainstream. Security is even something minor in priority, there is credit card and bank fraud everyday with the actual system.
This is similar to what happened with the PC and MAC if you want. We all know Wozniak and others invented the technology but as amazing as it was, it needed a visionary to bring it to the masses. For that to happen, you need to make deals with Google, Amazon, Microsoft, Facebook and Apple. People will embrace Bitcoin or whatever cryptocoin they implement, that's it. Or they will create their own, which is most likely and that will be the one.
Bitcoin is like Napster if you want, Apple or a company like that will see the potential when it fits and create iTunes. But that took A LOT of impossible deals with the labels music industry moguls.
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3050
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Economy / Speculation / Re: Is buy and hold a good investment option with price around $230 - Aug 2015
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on: September 21, 2015, 01:04:10 AM
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I'm new to Bitcoin but I'm not new to investment. I think the current price will remain steady ($200-300) unless there is a new major development really, and nobody can foresee what it's coming.
I think the current economic system must fall or stumble for Bitcoin to gain some actual power or real application, if not it will remain like the novelty it is, it really holds no value. However, considering that it can actually be worth millions, I couldn't pass the chance to buy a small amount at a decent price. But I don't think investing a good part of your savings would be wise at all...
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