Bitcoin Take?

[ChiefRocka]

Bitcoin disrupts gold
Ethereum disrupts financial services
There will be others...

[ChiefRocka]

Originally Posted by DanT

Paul Krugman recently published in his NY Times column a skeptical opinion piece on Bitcoin: https://nyti.ms/2NYYSdw

About 90 years ago, an Anglican priest enumerated 7 social sins (https://en.wikipedia.org/wiki/Seven_Social_Sins):
1. Wealth without work.
2. Pleasure without conscience.
3. Knowledge without character.
4. Commerce without morality.
5. Science without humanity.
6. Religion without sacrifice.
7, Politics without principle.

[BigRedChief]

Originally Posted by SuperChief

This is reason enough for me to remain bullish on crypto's future long-term. It's going to take time for mass adoption, but once it comes - watch out.

im not big on crypto’s future until there is one adhered to currency/coin. But blockchain, I’m very bullish on. It’s going to transform I.T. and business.

In recent months, there has been a flurry of excitement about the role that #blockchain technology might play in the long-term transformation of U.S. healthcare. 🚀🏥🤗$NBDR #Insurtech #Healthcare #Techhttps://t.co/YhrSGzT3ZX

— Lannister Development (@LannisterDev) August 6, 2018

[Fat Elvis]

Originally Posted by BigRedChief

im not big on crypto’s future until there is one adhered to currency/coin. But blockchain, I’m very bullish on. It’s going to transform I.T. and business.

In recent months, there has been a flurry of excitement about the role that #blockchain technology might play in the long-term transformation of U.S. healthcare. 🚀🏥🤗$NBDR #Insurtech #Healthcare #Techhttps://t.co/YhrSGzT3ZX

— Lannister Development (@LannisterDev) August 6, 2018

Pretty much this.

[ChiefRocka]

Just curious what you guys think blockchain is exactly? I think there is a lot of misinformation and overhyped speculation out there and nuthobs who say Bitcoin will replace the dollar as a one world currency doesn’t help the public perception.

[BigRedChief]

Originally Posted by ChiefRocka

Just curious what you guys think blockchain is exactly? I think there is a lot of misinformation and overhyped speculation out there and nuthobs who say Bitcoin will replace the dollar as a one world currency doesn’t help the public perception.

I've been in tech too long. This for sure next great tech that will blow up everything

Bitcoin is a totally separate from blockchain, the tech. Bitcoin uses blockchain as its tech on the back end. Same as the hospital.

I was using "block chain" back in 1999 to resolve an issue I was having but the encryption was for shit so we were just putting public information on there to avoid bringing stuff through the firewall wall.

Blockchain is simple yet complicated. Trying to explain it in one paragraph is hard. If interested, google is your friend.

“A blockchain is a magic computer that anyone can upload programs to and leave the programs to self-execute, where the current and all previous states of every program are always publicly visible, and which carries a very strong crypto economically secure guarantee that programs running on the chain will continue to execute in exactly the way that the blockchain protocol specifies.” — Vitalik Buterin

[lewdog]

Originally Posted by BigRedChief

I've been in tech too long. This for sure next great tech that will blow up everything

Bitcoin is a totally separate from blockchain, the tech. Bitcoin uses blockchain as its tech on the back end. Same as the hospital.

I was using "block chain" back in 1999 to resolve an issue I was having but the encryption was for shit so we were just putting public information on there to avoid bringing stuff through the firewall wall.

Blockchain is simple yet complicated. Trying to explain it in one paragraph is hard. If interested, google is your friend.

“A blockchain is a magic computer that anyone can upload programs to and leave the programs to self-execute, where the current and all previous states of every program are always publicly visible, and which carries a very strong crypto economically secure guarantee that programs running on the chain will continue to execute in exactly the way that the blockchain protocol specifies.” — Vitalik Buterin

Point me to a stock or company I can invest it related to Blockchain that isn’t shitty Bitcoin. I’d like to research.

Thanks.

[BigRedChief]

Originally Posted by lewdog

Point me to a stock or company I can invest it related to Blockchain that isn’t shitty Bitcoin. I’d like to research.

Thanks.

Forbes ideas
https://www.forbes.com/sites/andrewr.../#dac459756000


But, blockchain itself is simple to set up and cost nothing. Because people don't understand how it works, companies are getting paid money to set it up. I just don't see that as sustainable. Your own competent techs in your shop can set it up easily. I wrote up a how-to document in a day that allowed the 5th biggest corporation in the world to set up blockchain as a test run. That was just a side job for the conglomerate.


Thats the thing about blockchain. It's easy and accessible to everyone. It's going to allow everyone to securely share information within the corp or network. It's going to benefit humanity tremendously but make people rich? Maybe at the start but long term? Nope.

[Fat Elvis]

Originally Posted by BigRedChief

Forbes ideas
https://www.forbes.com/sites/andrewr.../#dac459756000


But, blockchain itself is simple to set up and cost nothing. Because people don't understand how it works, companies are getting paid money to set it up. I just don't see that as sustainable. Your own competent techs in your shop can set it up easily. I wrote up a how-to document in a day that allowed the 5th biggest corporation in the world to set up blockchain as a test run. That was just a side job for the conglomerate.


Thats the thing about blockchain. It's easy and accessible to everyone. It's going to allow everyone to securely share information within the corp or network. It's going to benefit humanity tremendously but make people rich? Maybe at the start but long term? Nope.

I work in health care policy so I can see the way that blockchain can/will transform the healthcare industry...that said, I'm a bit more cynical than you regarding how it will benefit humanity tremendously; I see it more as a perfection/perfecting of the microphysics of power via data, but that is more an indictment on humanity than the technology behind blockchain....

If I were to be bullish on any one company in the space, it would be Ripple. I think the currency is pretty much worthless, however, the transaction networks they've established make them a leader in the financial space. That said, I think there is a relatively low barrier to entry into that marketspace so they could be easily overtaken by anyone with deep enough pockets.

[Fat Elvis]

https://www.wired.com/story/solve-ge...th-blockchain/

[ChiefRocka]

A blockchain without an asset/reward backing it (via POW: Proof-of-work & POS: Proof-of-Stake) is nothing more than a glorified federated database amongst trusted third parties. The decentralization and consensus protocols therein are what make it revolutionary.

Sadly most folks don't get it and some never will.


For Lewdog:

https://www.dnvgl.com/news/dnv-gl-pa...onsumer-110284

https://www.pwc.com/us/en/industries...ocurrency.html

https://www.bloomberg.com/news/artic...r-crypto-funds

[ChiefRocka]

Originally Posted by BigRedChief

Forbes ideas
https://www.forbes.com/sites/andrewr.../#dac459756000


But, blockchain itself is simple to set up and cost nothing. Because people don't understand how it works, companies are getting paid money to set it up. I just don't see that as sustainable. Your own competent techs in your shop can set it up easily. I wrote up a how-to document in a day that allowed the 5th biggest corporation in the world to set up blockchain as a test run. That was just a side job for the conglomerate.


Thats the thing about blockchain. It's easy and accessible to everyone. It's going to allow everyone to securely share information within the corp or network. It's going to benefit humanity tremendously but make people rich? Maybe at the start but long term? Nope.

So blockchain is a nothing more than a mysql database in your view?

[BigRedChief]

Originally Posted by Fat Elvis

I work in health care policy so I can see the way that blockchain can/will transform the healthcare industry...that said, I'm a bit more cynical than you regarding how it will benefit humanity tremendously; I see it more as a perfection/perfecting of the microphysics of power via data, but that is more an indictment on humanity than the technology behind blockchain...

thats my thing. I’m paid these days for a vision, how a companies stuff and needs would be better in 5 years etc. and Architect how to get there.

Everyone wants to have access to the cloud but not expose their native apps and info to the cloud and the internet. Nothing gets pass through or wrote back to the native environment. It’s like the Holy Grail.

I’ve got a solution to do just that from anywhere in the world, from any browser and from any device. PM me and l’ll give you the tech to pull it off.

[BWillie]

So I NEVER messed with alts except Top 10 coins before like December (with the exception of PIVX & LTC) - then I put about $10,000 on Binance just to **** around. It's like $1,500 today lol. Maybe even less. Just got absolutely rekt there on alts. Lucky virtually everything else I have is Bitcoin, Eth, LTC, and Dash. Which has also got it's ass kicked, but not nearly as bad as most of the alts.

Glad I didn't put a bunch on ICO's the last six months like alot of people (even though I've still heard of some people getting rich off of ICOs in this trying time for crypto)

[Eleazar]

Crypto market crash prompts suicide concerns

Daniel Roberts
Senior Writer
August 15, 2018



The cryptocurrency market is seeing angry shades of red this week.

On Tuesday, the 20 largest cryptocurrencies by market cap all fell by 4% to 10%, with ether, token of the smart contracts platform Ethereum, taking the biggest hit, down to about $250, its lowest price of 2018. Ether was above $1,200 in January.

By Wednesday morning, coins were rallying slightly. But volume remained low, a possible sign that coins have still not seen the worst of this correction.

The losses have some crypto believers in serious emotional distress. On Tuesday, one of the top posts on the popular bitcoin forum of Reddit was information for suicide prevention hotlines.

This has happened before: In January, Reddit users shared the same kind of posts after bitcoin plummeted from its December 2017 high of above $19,000 down to the $13,000 range, on its way to under $10,000.

Bitcoin is down 57% in 2018 so far, ether is down 67%, bitcoin cash (BCH) is down 80%, stellar lumens (XLM) is down 60%, and ripple (XRP) is down an eye-popping 87%.

The overall coin market has lost more than $600 billion in value in the last 8 months.


CryptoSpaced
@cryptospaced
So futures expire in one day, alts just capitulated 20%, hodlers are on suicide watch, bitcoin shorts are stacked to the ceiling and someone just sent 100m$ to Bitmex. Interesting.

4:10 PM - Aug 14, 2018


Tom Lee, an analyst with Fundstrat, offers a daily “bitcoin misery index” rating for the biggest cryptocurrencies, on a scale of 0 to 100, with the high end being positive.

On Tuesday, Lee’s index had bitcoin at 42 — bad, but it has been worse — and ether at 21, not much better than its lowest-ever rating on the index of 14 in September 2017. The index had stellar lumens at 7 out of 100.

The current crash began at the end of July when the SEC rejected a bitcoin ETF (exchange-traded fund) from Cameron and Tyler Winklevoss for the second time. In August, the SEC also delayed its decision on a bitcoin ETF from Van Eck, stoking concerns that regulators might never allow a bitcoin ETF, which is seen as crucial to its mainstream investment success.

In addition, startups that held ICOs (initial coin offerings), in which they create their own token and sell it in exchange for ether, are believed to be selling off that ether now into bitcoin or fiat currency, which explains why ether has taken the biggest hit of all the cryptocurrencies, and why bitcoin has not seen quite the same damage as the rest in the last week.

Add to all of this continued concerns around tether, a “stablecoin” pegged to the value of the U.S. dollar and believed by many to be the driving force behind bitcoin price manipulation.

If you or someone you know is in crisis, the U.S. suicide prevention line is free and open 24 hours per day: call 800-273-8255.

—

https://finance.yahoo.com/news/crypt...135248250.html

[BossChief]

I sold off all of mine, so I’m sure it will skyrocket in a couple weeks