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Cryptocurrency and Blockchain News and Discussions Thread

bitcoin blockchain P2P DAO decentralization digital currency cryptocurrency dogecoin Ethereum economics

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#61
Mike the average

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$10k bitcoin

reached in no time
'Force always attracts men of low morality' - Einstein
'Great spirits always encountered violent opposition from mediocre minds' - Einstein

#62
caltrek

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100 cryptocurrencies described in four words or less

 

https://techcrunch.c...-words-or-less/

 

 

 

This list (see linked site) describes cryptocurrencies.

 

Each gets four words. There are many.

 

Some are landmarks. Some are scams.

 

Hopefully this provides orientation.


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#63
caltrek

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Phoenix found this image and posted it as a status update:

 

http://images.vfl.ru...4f/19618312.png

 

19618312.png


  • Yuli Ban likes this

The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#64
PhoenixRu

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$10k bitcoin

reached in no time

 

One year ago, 29 November 2016 - 732 USD

Today's high - 11377 USD

 

15-fold growth... and someone still thinks ths is NOT financial pyramid? Btw, if this trend continues, the future price should be:

 

29 November 2018 - 177 thousand USD

29 November 2019 - 2,75 million USD

29 November 2020 - 42,7 miilion USD

 

Sounds quite realistic, isn't it? So, keep you bitcoins, guys, you're all just in one step from being multi millionaires.  :biggrin:


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"And the Russian land, let God keep it! Under heavens, there is no other land like this. And although Russian nobles are not righteous neither kind, let God arrange the Russian land and give us enough justice" - Afanasy Nikitin, medieval traveler of XV century.


#65
Yuli Ban

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Provided that he is not dead or hasn't lost the keys to his wallet, Satoshi Nakamoto's current net worth would be $10 billion.

 

I think the reason why we can't know for sure whether or not this is not a ponzi scheme is because we've never actually seen something like cryptocurrency before except in science fiction novels. A standardized global virtual currency simply couldn't exist before the present because the virtual world itself didn't much exist on any sizable scale.

 

So it's possible— even probable— that the price will fall/fluctuate. At the same time, I'm not holding out that it won't reach $1 million per bitcoin. And when it does, that will essentially mean that Satoshi Nakamoto— again, if he's a real person and has access to his wallets— is our first trillionaire, and how fitting that it's off of a currency that technically doesn't exist?

 

At the same time, I'd also watch what China does. They're already the world leaders in bitcoin. I have no doubt that the American and European bankers won't accept it until they can figure out how to control it. But if the Chinese say that it's a real currency, the world will literally have no other choice but to follow suit. Actually, that would make a great little power testing moment— would Chinese acceptance or rejection alone of bitcoin legitimize the cryptocurrency on global financial markets? If so, then they're ready to meet and surpass the United States. If it fails before then, then we'll never truly know outside of some sort of war.


Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!

#66
PhoenixRu

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Phoenix found this image and posted it as a status update:

http://images.vfl.ru...4f/19618312.png

 

Yes, exactly what i meant. I fully understand the joy and exaltation of those who've bought their bitcoins per 500 or 1000 USD.

 

But THIS WILL NOT LAST LONG.


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"And the Russian land, let God keep it! Under heavens, there is no other land like this. And although Russian nobles are not righteous neither kind, let God arrange the Russian land and give us enough justice" - Afanasy Nikitin, medieval traveler of XV century.


#67
Yuli Ban

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@https://twitter.com/officialmcafee/status/935900326007328768


Nobody's gonna take my drone, I'm gonna fly miles far too high!
Nobody gonna beat my drone, it's gonna shoot into the sky!

#68
caltrek

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I received this message when I tried the link:

 

Sorry, that page doesn’t exist!

The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#69
PhoenixRu

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link

 

Well, i'll remember this tweet...

 

DP0dpj2WkAAC4pd.jpg


--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

 

"And the Russian land, let God keep it! Under heavens, there is no other land like this. And although Russian nobles are not righteous neither kind, let God arrange the Russian land and give us enough justice" - Afanasy Nikitin, medieval traveler of XV century.


#70
PhoenixRu

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Sorry, that page doesn’t exist!

 

Wrong link. Here's the correct one:

 

https://twitter.com/...900326007328768


  • Yuli Ban likes this

--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

 

"And the Russian land, let God keep it! Under heavens, there is no other land like this. And although Russian nobles are not righteous neither kind, let God arrange the Russian land and give us enough justice" - Afanasy Nikitin, medieval traveler of XV century.


#71
TranscendingGod

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link

 

Well, i'll remember this tweet...

 

DP0dpj2WkAAC4pd.jpg

 

I'll eat mine as well if that does not happen... cept mine will be spotted. 


The growth of computation is doubly exponential growth. 


#72
Mike the average

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I have a feeling a '?' will grace the cover of Time magazine -
person of the year 2018 representing the concept of Satoshi. Regardless of crypto dollar value we are in for a helluva year, where this all goes is the most interesting story of 2018 by a long long way.
'Force always attracts men of low morality' - Einstein
'Great spirits always encountered violent opposition from mediocre minds' - Einstein

#73
caltrek

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Nobel-winning economist Joseph Stiglitz warns of Bitcoin bubble

 

https://www.salon.co...bitcoin-bubble/

 

Introduction:

 

(Salon) Less than 24 hours after trading at $10,000 per coin, Bitcoin continued its upward streak and surpassed $11,000 on Wednesday, while a Nobel Memorial Prize-winning economist sounded investor alarm bells over what may be a bubble waiting to burst.

 

In an interview on Bloomberg, economist Joseph Stiglitz was asked if Bitcoin, the best-known cryptocurrency, could be "viable" if it were regulated. Stiglitz pointed out that "one of the main functions of government is to create currency." He explained that Bitcoin is "successful only because of its potential for circumvention, lack of oversight," referencing the fact that, as a cryptocurrency, the distribution of Bitcoin is decentralized with no central bank to mint or manage the currency.

 

"It’s a bubble that’s going to give a lot of people a lot of exciting times as it rides up and then goes down," Sitglitz told Bloomberg News.

 

He added, "so it seems to me it ought to be outlawed. It doesn’t serve any socially useful function."

 

"The value of a Bitcoin today is expectations of what the Bitcoin is going to be tomorrow," Stiglitz said.


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The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#74
Alislaws

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"so it seems to me it ought to be outlawed. It doesn’t serve any socially useful function."​

It serves as a medium of exchange, that's its "socially useful function" like every other currency!

 

This guy may be a nobel prize winner, but I bet he is an old man with decades of thinking invested in how things used to work.

 

<googleing> 

 

Yup age: 74!

 

 

"The value of a Bitcoin today is expectations of what the Bitcoin is going to be tomorrow,"

 

The value of the £ today is only based on the expectations of what the £ will be worth tomorrow. Same with the $ and every other currency not directly linked to a permanent exchange weight of Gold or something. Like with brexit, the vote comes out leave, a bunch of people holding £s estimate that their £s are going to be worth less in future, so they sell their £s, value of £s falls, its value is tied to its perceived future value. If the expected future value of £s dropped to 0, then our whole economy would collapse. (like that scene in Rick and Morty)

 

One thing that is interesting is that bitcoin is not linked to any single national economy, which means in the long term it will probably end up functioning like gold, with its value spiking in times when national economies are looking like they are in trouble and people want an asset that isn't affected by the current local economy, and falling when things ae booming, and people put their money in national currencies or other investments.



#75
caltrek

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While I don't necessarily agree with Stiglitz regarding the Bitcoin issue, I do admire him as an economist.  He was spot on in anticipating the 2008 recession.  He has also written extensively and with great intelligence about income inequality.  


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The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#76
caltrek

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It serves as a medium of exchange, that's its "socially useful function" like every other currency!

 

 

Yes, but for who is it "socially useful"?

 

Australian Government: Bitcoin Is Causing Organized Crime to Proliferate

 

https://news.bitcoin...to-proliferate/

 

Introduction:

 

(Bitcoin.com) The Australian government believes it has honed in on the cause of increased organized crime. According to an (ACIC) report, bitcoin and cryptocurrencies are to blame. Officials in the country suggest cryptocurrency usage in organized crime has run rampant. 

 

The report clarified the government’s position: “The two key enabling technologies currently used to facilitate serious and organised crime are virtual currencies and encryption. Virtual currencies, such as bitcoin, are increasingly being used by serious and organised crime groups as they are a form of currency that can be sold anonymously online, without reliance on a central bank or financial institution to facilitate transactions.”

 

The Australian government further states that bitcoin exchanges are largely to blame. They do not have enough transparency and regulatory oversight, suggests Australian officials. In this sense, they are basically allowing all manner of crime to proliferate. Austrian justice minister Michael Keenan, states bitcoin can be traded anonymously and is significantly traded on international exchanges.

 

This information follows recent bill introduced by Australian politicians to regulate exchanges and altcoins. The bill is meant to help the Australian government fight terrorism. News.Bitcoin.com covered the story a few weeks ago;

 

This legislation is part of the country’s first stage of reforms “to strengthen the Anti-Money Laundering and Counter-Terrorism Financing Act and increase the powers of the Australian Transactions and Reporting Analysis Centre (Austrac),” according to the announcement. Austrac is the country’s financial intelligence agency responsible for anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

shutterstock_625793606-150x150.jpg


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#77
Mike the average

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'Bitcoin'  overtakes Trump on google searches

 

http://www.businessi...e-trump-2017-12


'Force always attracts men of low morality' - Einstein
'Great spirits always encountered violent opposition from mediocre minds' - Einstein

#78
caltrek

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Federal Regulator Gives OK for Bitcoin Futures to Trade

 

https://www.courthou...tures-to-trade/

 

Introduction:

 

NEW YORK (AP) — A federal regulator gave the go ahead on Friday to the CME Group to start trading bitcoin futures later this month, the first time the digital currency will be traded on a Wall Street exchange and subject to federal oversight.

 

The CME Group, which owns the Chicago Mercantile Exchange, will start trading bitcoin futures Dec. 18, the company said. The Commodities Futures Trading Commission, the primary regulator for exchanges like the CME, gave approval for the exchange to create bitcoin futures after six weeks of discussions.

 

The CME Group is using a process known as “self-certification,” which is when an exchange pledges that the new instruments will not break any federal securities laws.

The price of bitcoin futures will be based on the price the digital currency is going for on its major exchanges. Due to its volatility, bitcoin futures will be subject higher margin levels and intraday price limits, the CME said.

 

The move will subject some of the bitcoin market to federal regulation for the first time. It will also open up bitcoin trading to a larger group of investors and traders, who have been reluctant to purchase the virtual currency on the private exchanges.


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The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#79
caltrek

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Bitcoin Bubble Burst will warn you if the bitcoin dream is about to crash down

 

https://techcrunch.c...-to-crash-down/

 

Introduction:

 

(Tech Crunch) Whether you’re a bitcoin believer or a vulture waiting to have your bubble predictions proved right, you’re probably keeping one nervous eye on the charts in anticipation of the crash everyone seems to expect any second now. Bitcoin Bubble Burst, presented today at the Disrupt Berlin hackathon, lets you you focus on other things, while it watches for major price changes and news events that could affect prices and alerts you in real time.

 

Although there are plenty of apps and services that warn you when bitcoin trading volume or price changes greatly, BBB’s creators told me, none give you adequate warning when something is going to happen. So they created a machine learning system (naturally) and trained it on data linked to bitcoin price changes.

 

Patterns in trading and key news items — for example, a country bans bitcoin, or taxes are proposed on cryptocurrency income somewhere — are detected by the system (the creators claim) and if they reach a certain threshold of importance, you will receive an email. The logic behind the warning is included — it isn’t just “sell! sell!”

 

Here’s an example of a regular update you might receive, though urgent alerts might look different:

The system so far has been fairly accurate, they told me, predicting a few changes to within a handful of dollars — and it should get better as time goes on and its training data multiplies. They also plan to add other alert methods (SMS, for instance) and allow users to change the threshold at which they will be contacted.

bitcoinbb.png?w=281&h=300


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#80
Mike the average

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Maduro creating oil backed 'petro' cryptocurrency to beat US blockade

https://www.reuters....y-idUSKBN1DX0SQ
'Force always attracts men of low morality' - Einstein
'Great spirits always encountered violent opposition from mediocre minds' - Einstein





Also tagged with one or more of these keywords: bitcoin, blockchain, P2P, DAO, decentralization, digital currency, cryptocurrency, dogecoin, Ethereum, economics

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