Bitcoin - cryptocurrency?

   #84  

myounus

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One man's rubbish is another's fortune!
 
   #86  

DV52

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^^^ hmm........ Morgan Stanley giving financial advice? Unbelievable!!!
 
   #87  

Blazs_A4ABC

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In the RT article, McAfee explains that people buying gifts needed their BTC converted so badly that this is what caused the correction. It's a clear indication how BTC fails to be money -> money on my bank account remaining won't lose its buying power by 25% just because I've spent some. I wonder how investors will ever get out of their BTC if they always see the opportunity to HODL then buy, in each correction. :facepalm:
 
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Blazs_A4ABC

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Can't wait. Video cards are stupid expensive right now due to all the cryptomining crap.
Would be nice but not gonna happen. :(

First, manufacturers and AIB partneres as well as retailers, are literally swimming in money. They aren't going to let this go. Why would they go back to tons of cheapass single card buyers when miners come in, buy large and leave...
Additionally, since crypto miners are investors at the same time they will start buying as soon as a coin starts to correct. This restores the price and the bubble is up again. The money in the market stays inside, just hops between owners.
There is simply enough money to self-sustain the GPU mining network. :(

Let's see if the Bitmain's Antminer F3 ASIC is up to the rumors and it's able to beat GPU setups in GPU-based cryptos.
 
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   #94  

vreihen

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I read a news article over the weekend saying that a town in NE NY (Plattsburgh?) just passed a municipal ordinance banning Bitcoin mining.....
 
   #95  

Uwe

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I read a news article over the weekend saying that a town in NE NY (Plattsburgh?) just passed a municipal ordinance banning Bitcoin mining.....
Just Bitcoin, or all crypto-currency?

Either way, I do not think such an ordinance would not stand up to court challenge.
 
   #99  

DV52

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Jack: too late!!! It's not possible to put the "blockchain" genie back into the bottle - fact is that distributed ledgers are here to stay (in virtually every industry that relies on keeping records of some kind). The old, outdated paradigm of a single central registry of information as the sole authority for recording transactions (be they in banking, voting, library lending, customs freight, food safety etc) is fast becoming a thing of the past.

The link in your post points to cryptocurrency cyber attack, but these same attacks have plagued the traditional banking industry for years - and I suspect that the financial losses in the banking industry from cyber theft have been far in excess of the Conrail incident.

Every market regardless of its nature is driven by fear and greed and the 10% fail in Bitcoin value that allegedly resulted from the cyber attack is a classic example of the former driver. I would have been concerned if the cyber attack didn't affect the price of cryptocurrencies - it would have been a portent of a market that was not working properly.

In the 21st century, anyone that invests in any stock be-it traditional shares, or crypto currency should assume that the value of their investment may be impacted by cyber theft - it's just another one of the many risks that need to be managed these days.

News articles like the one in your post is an opportunity for the profit-takers to enter the market - time will tell if they are successful.

Long live blockchain and proof-of-work (and the fabulous "hash function")!!

Don
 
   #100  

Jack@European_Parts

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Jack: too late!!! It's not possible to put the "blockchain" genie back into the bottle - fact is that distributed ledgers are here to stay (in virtually every industry that relies on keeping records of some kind). The old, outdated paradigm of a single central registry of information as the sole authority for recording transactions (be they in banking, voting, library lending, customs freight, food safety etc) is fast becoming a thing of the past.

The link in your post points to cryptocurrency cyber attack, but these same attacks have plagued the traditional banking industry for years - and I suspect that the financial losses in the banking industry from cyber theft have been far in excess of the Conrail incident.

Every market regardless of its nature is driven by fear and greed and the 10% fail in Bitcoin value that allegedly resulted from the cyber attack is a classic example of the former driver. I would have been concerned if the cyber attack didn't affect the price of cryptocurrencies - it would have been a portent of a market that was not working properly.

In the 21st century, anyone that invests in any stock be-it traditional shares, or crypto currency should assume that the value of their investment may be impacted by cyber theft - it's just another one of the many risks that need to be managed these days.

News articles like the one in your post is an opportunity for the profit-takers to enter the market - time will tell if they are successful.

Long live blockchain and proof-of-work (and the fabulous "hash function")!!

Don
Don,

FCBC

Real "HARD" currency in real rare metals & markets ........

Just kidding for the prude! that think I"m rude!




 
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