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If you aren't on the cryptocurrency train then you're about to get left at the station

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posted on Aug, 28 2017 @ 12:41 AM
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Huge amounts of money are changing hands daily & it's not in our traditional financial systems.
This is equivalent to the .com rage during the early internet days...it's not even fully understood what the impact of this is going to be as it takes larger and larger percentages of the economy.

Many people still don't understand or even realize what is happening right now.
The elimination of physical currency is an inevitability of our technological society. Everything is headed that direction already & cryptocurrency (& no, not just Bitcoin) is the experiment that is going to determine the future of our wallets.

This experiment is well on it's way, in just the last 2 years it's made overnight millionaires, established multi-billion dollar business empires & supports entire communities of traders and miners.

Right now it's late to the game, but not too late. Crypto is still a blip on the worlds economic radar and even the fact that "cryptocurrency" isn't in spell check yet suggests it has a long way to go yet.
If you don't know anything about it, do yourself a favors and start learning. Try buying $20.00 worth of something or if you really want to get crazy, try mining some obscure altcoin that's difficulty level hasn't excluded average joe's yet
.
You never know, next time this year you could have a hefty chunk of the future.

Good luck.




posted on Aug, 28 2017 @ 01:04 AM
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a reply to: coldkidc

This concept is difficult for me to understand. Is there a "Bitcoin for Dummies" or like info that you could recommend? Sorry to be so dense, but I am interested, just can't wrap my mind around it. Thanks for the heads-up! S&F.



posted on Aug, 28 2017 @ 01:34 AM
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a reply to: coldkidc

I'm starting to get into it these days. There's a lot to learn, but I believe It's still early even in terms of the currency's value, just as the .com revolution you've mentioned, it's gonna take a while for this revolution to sweep through the masses.

The future potential users might raise its value to extreme heights.



posted on Aug, 28 2017 @ 01:38 AM
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a reply to: Shuye





The future potential users might raise its value to extreme heights.


MAybe, or it could simply be another scam for people to sink funds into that disappear overnight.



posted on Aug, 28 2017 @ 01:50 AM
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originally posted by: coldkidc
Huge amounts of money are changing hands daily & it's not in our traditional financial systems.
This is equivalent to the .com rage during the early internet days...it's not even fully understood what the impact of this is going to be as it takes larger and larger percentages of the economy.

Many people still don't understand or even realize what is happening right now.
The elimination of physical currency is an inevitability of our technological society. Everything is headed that direction already & cryptocurrency (& no, not just Bitcoin) is the experiment that is going to determine the future of our wallets.

This experiment is well on it's way, in just the last 2 years it's made overnight millionaires, established multi-billion dollar business empires & supports entire communities of traders and miners.

Right now it's late to the game, but not too late. Crypto is still a blip on the worlds economic radar and even the fact that "cryptocurrency" isn't in spell check yet suggests it has a long way to go yet.
If you don't know anything about it, do yourself a favors and start learning. Try buying $20.00 worth of something or if you really want to get crazy, try mining some obscure altcoin that's difficulty level hasn't excluded average joe's yet
.
You never know, next time this year you could have a hefty chunk of the future.

Good luck.



The more people that mine for cryptocurrencies the less they are worth because the harder they are to mine. The larger the group of people using them, the less value they have.

Cryptocurrency will never be mainstream because the only way to generate it is to mine it, and it's already reached such a high saturation that it's not really viable for the average joe to mine.

I guess you could have a product that you sold for crypto's, but I mean -- it's so much harder to sell anything that's not super valuable for a crypto currency since the adoption rate is low -- this means there are only a few people in the market capable of buying your product.

Those already in the Crypto game are leasing 747 airplanes just to ship them graphics cards to mine it with. In other words, not at all average joe.

Ethereum Miners Opt to Lease 747's
edit on 28-8-2017 by SRPrime because: (no reason given)



posted on Aug, 28 2017 @ 01:51 AM
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It's not late. This is just getting started. Less than 1% of the population is involved in crypto currency right now.

When i learned it was a decentralized form of currency I got interested. This is a good interview with one of the most knowledgable people on the subject.

edit on 28-8-2017 by booyakasha because: (no reason given)



posted on Aug, 28 2017 @ 01:53 AM
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originally posted by: booyakasha
It's not late. This is just getting started. Less than 1% of the population is involved in crypto currency right now.

When i learned it was a decentralized form of currency I got interested. This is a good interview with one of the most knowledgable people on the subject.



It is basically too late, check my link above -- you can't compete with that. Even AMD is betting against crypto currencies.


AMD reaped the rewards from the cryptocurrency miners as its price jumped after it beats the revenue estimates. The shares rose 11 percent after the chip company announced earnings on July 25, making it the fourth best performer on the S&P 500.

However, AMD management said that despite the demand of crypto miners for graphics cards, they are not going to include these demands in their forecasts. AMD’s Chief Executive Lisa Su said that they are not looking at cryptocurrency as a long term growth driver.

edit on 28-8-2017 by SRPrime because: (no reason given)



posted on Aug, 28 2017 @ 02:01 AM
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originally posted by: hopenotfeariswhatweneed
a reply to: Shuye





The future potential users might raise its value to extreme heights.


MAybe, or it could simply be another scam for people to sink funds into that disappear overnight.


I was thinking the same for a long time, until I realized that corporations and banks are also holding, buying and even accepting bitcoin as payments, such as Microsoft as Dell. Perhaps they intended to crash it one day, but their "crash value" is currently low considering the amount of people and corporations already involved. It might be hard to stop it.



posted on Aug, 28 2017 @ 02:17 AM
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Yet more and more miners are entering the community everyday. seems like most of the miners I've read about are making really decent money through relatively small investments.


99bitcoins.com...

There are calculators available to see if mining is profitable for you. It varies on different areas depending on the price of electricity.

I think bit coin is here to stay and will make many more people a ton of real money. As opposed to fiat currency which is printed out of thin air or just created with a key stroke.



posted on Aug, 28 2017 @ 02:46 AM
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Neo I think will be huge.



posted on Aug, 28 2017 @ 02:58 AM
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I don't see much future in it. You buy something with Bitcoin, then the merchant has to wait till the Bitcoin is delivered, which can take a very long time. What does the buyer do, come back later to get the purchase. Not very practical when cash or credit card are instantaneous.

The only benefit I can see for Bitcoin is a way for criminals to launder fiat and make anonymous large transfers of cash that is also illegal. Bitcoin is all hype in IMO. Financial institution don't know how to deal with it. Bitcoin is on the road to being made illegal.

As for mining it, most miners don't take into account they have to pay tax on the amounts of Bitcoin and other coins, they mine, which most don't.
edit on 28-8-2017 by eManym because: (no reason given)



posted on Aug, 28 2017 @ 03:16 AM
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To me, this is a pyramid scheme. Cryptocurrency is only of value if enough people believe that it has value. So every believer in her/his currency wants to have more followers so the currency gains more value.

I do not believe. It is a typical "get rich quick without effort" thing. How many of those, in your personal experience, have ever worked?



posted on Aug, 28 2017 @ 03:25 AM
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a reply to: SRPrime

This is probably because that technology is becoming obsolete.

Google Ripple



posted on Aug, 28 2017 @ 03:56 AM
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originally posted by: ManFromEurope
To me, this is a pyramid scheme. Cryptocurrency is only of value if enough people believe that it has value. So every believer in her/his currency wants to have more followers so the currency gains more value.

I do not believe. It is a typical "get rich quick without effort" thing. How many of those, in your personal experience, have ever worked?


hence threads like this keep popping up.



posted on Aug, 28 2017 @ 04:16 AM
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I dont exactly undetstand why the value is so high ... i know what it is ... but literaly could make a new crypto tomarow that cost nothing and dose the same thing ... just got to get people to mine it

And eth minning is hardly outside the avg joe range ... i started with 1 290 ... i now got 12 all paied with eth

tho eth is going pos from pow so if u want some insane gpu power cheap hold for about a year ish ull see top end gpus being dumped for 100 bucks



posted on Aug, 28 2017 @ 04:25 AM
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a reply to: coldkidc




Try buying $20.00 worth of something or if you really want to get crazy, try mining some obscure altcoin that's difficulty level hasn't excluded average joe's yet

I know that cryptocurrency is unstable and liable to crash , I also know I had to pay over the odds for my new graphics card recently because of the demand placed on stocks by cryptominers *** shakes fist***

Cryptocurrency is a gamble and I no longer gamble , a fool and their money are easily parted.



posted on Aug, 28 2017 @ 04:31 AM
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a reply to: gortex

Have a read of this buddy:

bitcointalk.org...



posted on Aug, 28 2017 @ 04:36 AM
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originally posted by: ManFromEurope
To me, this is a pyramid scheme. Cryptocurrency is only of value if enough people believe that it has value. So every believer in her/his currency wants to have more followers so the currency gains more value.

I do not believe. It is a typical "get rich quick without effort" thing. How many of those, in your personal experience, have ever worked?


You don't seem to know much at all about bitcoin. It takes computing power to decrypt (mine) the bitcoins. A LOT of computing. Which means a LOT of electricity. That alone gives bitcoin a base value. Your statement is actually kinda funny. In what ways is crypto currency the same as a pyramid scheme?



posted on Aug, 28 2017 @ 04:38 AM
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originally posted by: Alien Abduct

originally posted by: ManFromEurope
To me, this is a pyramid scheme. Cryptocurrency is only of value if enough people believe that it has value. So every believer in her/his currency wants to have more followers so the currency gains more value.

I do not believe. It is a typical "get rich quick without effort" thing. How many of those, in your personal experience, have ever worked?


You don't seem to know much at all about bitcoin. It takes computing power to decrypt (mine) the bitcoins. A LOT of computing. Which means a LOT of electricity. That alone gives bitcoin a base value. Your statement is actually kinda funny. In what ways is crypto currency the same as a pyramid scheme?


How does using electricity give bitcoin value?

I have used electricity to type this post. Do you think that gives this post value?



posted on Aug, 28 2017 @ 04:53 AM
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originally posted by: SRPrime

originally posted by: booyakasha
It's not late. This is just getting started. Less than 1% of the population is involved in crypto currency right now.

When i learned it was a decentralized form of currency I got interested. This is a good interview with one of the most knowledgable people on the subject.



It is basically too late, check my link above -- you can't compete with that. Even AMD is betting against crypto currencies.


AMD reaped the rewards from the cryptocurrency miners as its price jumped after it beats the revenue estimates. The shares rose 11 percent after the chip company announced earnings on July 25, making it the fourth best performer on the S&P 500.

However, AMD management said that despite the demand of crypto miners for graphics cards, they are not going to include these demands in their forecasts. AMD’s Chief Executive Lisa Su said that they are not looking at cryptocurrency as a long term growth driver.


From your link.


AMD’s Chief Executive Lisa Su said that they are not looking at cryptocurrency as a long term growth driver. Instead, AMD will focus on its core market of gamers.


Meaning they aren't looking to depend on cryptocurrency miners to buy enough of their processors to be considered a growth driver of their business. This doesn't mean they think the currency itself is going to go nowhere.




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