Are you sick of bitcoin yet?

To me, Bitcoin is like Napster, it itself may not last the complete course but the idea behind it and the technology will evolve and is here to stay.

The thing about the current wave is not just how much Bitcoin has increased in value, quite a few cryptocurrencies, some arguably better are also starting to rocket up.

Bitcoin cash was like $90-$100 only a few weeks back it's now up to aound $1300
Ethereum was $250 for months it now is around $500-$550, others are buying up DASH and Monero.

It's here to stay and I welcome it.

a reply to: Generation9

you have no idea how the :

commodity futures market

works

Bitcoin has turned into another expression of avarice. People speculating in order to make money out of nothing, the type of unhealthy behaviour that marked out bankers in their most pig-like money-making excess. Who is making all the money?

When I got into it , it was less than 40 bucks a Bitcoin. Not sick of it, sick of all the hyped commentary from news to people that even claim they don't know about it but have negative opines. Also, between investing, making from own coin, can say pay is less now when it was lower. That's a higher price drawback.

It has gone up and down over the years, but so far it's showing that it will never be under 40 dollars again let alone under a couple hundred as long as it's active. The doomed crash won't be as many think or hope it will- as some long time Bitcoiners dislike the higher prices.

a reply to: intrptr

That pittance you invested will have blossomed into enough to afford your favorite thing, whoopee

That is what I done. It works :-)

originally posted by: ignorant_ape
a reply to: Generation9

you have no idea how the :

commodity futures market

works

Here we go. Let's talk about the Futures market. Tell me what you have in mind.

originally posted by: ADSE255
Yes. I'm sick of bitcoin.

Make it stop!

I'm working on it, I've created a Pacman like virus which will scour the internet and gobble up all the bitcoins.

Food for thought.... that may very well be possible!

originally posted by: purplemer
a reply to: intrptr

That pittance you invested will have blossomed into enough to afford your favorite thing, whoopee

That is what I done. It works :-)

I thought about it. I could put a hunnert in bitcon, wait a bit. Buy a thousand dollar something, theres nothing that costs a thousand I actually want though.

Besides, come next spring I might find it anyway for free in the Curbside recycle program. Americans throw everything away.

Bitcoin is utter garbage.

It's extremely slow and the fees are too high. Other day my sending fee was about 45% of the amount I was sending. It's beyond normal. The one time I tried to make a payment with minimal fees, it took 3 days for it to go through.
There are countless other coins that do exactly what bitcoin does, but much faster and much lesser fees!

Only invest in bitcoin if you want to "get rich quick". Do not invest in it if you believe it's the "currency of the future". There are better cryptocurrencies out there.

originally posted by: Sublimecraft
a reply to: Generation9
I have a friend who has had investments in both bitcoin and medical marijuana for over 18 months now. His asset portfolio has grown exponentially

Come to think of it, how about a "bitcoin" backed by "weed?"

That should be an interesting currency.

The fiat dollar currency used to be backed by gold, but bitcoin isn't currently backed by anything.

Making bitcoin exchangeable for weed could dramatically change the currency game.

a reply to: Generation9

How can anyone be sick of it? Unless maybe you were one of those folks who scoffed at it months ago and are now sour grapes about missing out on creating an immense amount of wealth. It's not too late though.

It's what Bitcoin represents that's so exciting. It's forced us to rethink what money is and what it means to value something.

So no I'm certainly not sick of it.

a reply to: PhotonEffect

Me either. There is much more to this thing.

Everybody think about how a computer program can run inside a distributed network.

Google explain how an app executes on a blockchain

These cryptocurrency/blockchain companies are trying to acquire real estate inside the world wide web. Real people trade inside that place. The companies want real people to submit to those networks.

Think about what money really is. Not gold or water or ideas. But tokens to continue living. This cryptocurrency think is going to run population control algorithms.

Best thing to do is speculate and trade on the exchanges and then defend the USDollar. Or your own country's cash. I've got mine.

originally posted by: PhotonEffect
a reply to: Generation9

How can anyone be sick of it? Unless maybe you were one of those folks who scoffed at it months ago and are now sour grapes about missing out on creating an immense amount of wealth. It's not too late though.

It's what Bitcoin represents that's so exciting. It's forced us to rethink what money is and what it means to value something.

So no I'm certainly not sick of it.

Heat in the form of electricity, sufficient to power Belgium, and doing nothing productive in any way, is being churned out as a waste product. I never expect to hear
a peep about AGW from anyone who worships at this alter. Is this what gives it value?
Talk about the rich getting richer....what are they doing again, to create value? My memory needs some serious refreshing.

This means Richard Branson and who knows what other progressive elitist globaliss self entitled prick can keep their Sir Piehole shut forever. We should also ask exactly how much oxygen is vacuumed away forever everytime
a luxury sports car is jettisoned into space, on a whim. Christ. Yeah. We should all be doing this.

# 919

a reply to: TheWhiteKnight

Ha! That's a great point. The cryptocurrency idea totally trumps the global warming idea. I too have seen the references to cryptocurrency being wasteful and contributing to global warming, but in the end nobody cares about global warming because global warming is in influenced the least by humans. Hence the utter reality of AGW as a complete hoax perpetrated by anti-American forces.

I know you guys are thinking ahead here. The way Bitcoin is mined has had very adverse effects, not only on the environment but the platform as well. You guys are a little behind the times as there are already working solutions being done (not from Bitcoin) and working.

Not my writing: steemit.com...@mooncryption/guide-proof-of-work-pow-vs-proof-of-stake-pos-vs-delegated-proof-of-stake-dpos

originally posted by: dreamingawake


It has gone up and down over the years, but so far it's showing that it will never be under 40 dollars again

Ha, ha, ha...Yeah...they said the same thing about Oil too.

I remember, rushing to invest in Oil, because of the limited supply, earthy running out of crude deposits, the sky is the limit...

What happened?

Oil crashed.

At least, when I buy Oil, even if the price goes to zero, I can still "use it" for something.

What to do with bitcoin, after it hits bottom?

a reply to: AMPTAH

Apples to oranges.

a reply to: JinMI

Your link is bad crypto Yoda, and people are quite unwise to be ignoring your advice! Can you please forward that link to me, or the article you meant to link so I can get caught up. Seriously... please send me anything and everything you can on this subject???

a reply to: ttobban

Oops, sorry.
Link

Go read this mind blower paper published in American University Law Review in April 1997...

How to Make a Mint: The Cryptography of Anonymous Electronic Cash


I understand now that in law "internet traffic" is actually electronic commerce, "packets of information" are tokens and "electronic payment" is a type of electronic commerce that requires a third party token to authenticate the transfer of money from the payer to the payee. Apparently the payer issues no token and also the payee issues no token. The money isn't changing hands in the way that a coin moves from my hand to your hand when we transact. The mistake is to think of the "token" as a coin. The token is actually an amount of memory. The VISA network functions along these lines. The token is a "packet" of information. The payer gives the money. The payee receives the money. VISA keeps the information.

All of this transaction stuff requires three security features - user identification, message integrity and non-repudiation. We don't have that system in place yet. We just wing it.

Cash is better than digital stuff currently.

What the digital world requires is an authentication infrastructure.

An infrastructure.

The above posted article is written by NSA employees. So you see where this is headed, right? Authentication infrastructure.