Jump to content

Welcome to FutureTimeline.forum
Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, post status updates, manage your profile and so much more. If you already have an account, login here - otherwise create an account for free today!

These ads will disappear if you register on the forum

Photo

Cryptocurrency and Blockchain News and Discussions Thread

bitcoin blockchain P2P DAO decentralization digital currency cryptocurrency dogecoin Ethereum economics

  • Please log in to reply
95 replies to this topic

#81
Alislaws

Alislaws

    Democratic Socialist Materialist

  • Members
  • PipPipPipPipPipPip
  • 722 posts
  • LocationLondon

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.  

Yeah when I googled him, I saw a lot he has said that I basically agree with. 

 

The reality is that every currency has a value based on the confidence people place in it, and its future expected value. If everyone stopped accepting USD tomorrow, then USD would become valueless. 

 

I can understand his point, that bitcoin is not backed by a state, which means there is nothing to prop it up if it starts to drop, but it is also not tied to a single national economy, so as long as a significant number of people world wide have confidence in bitcoin it will function like any other currency. 

 

 

Australian Government: Bitcoin Is Causing Organized Crime to Proliferate

The Australian govt is probably preparing to try and strip away people's privacy by implementing laws preventing encryption etc. 

 

As people have known since the prohibition era in the US: Organised crime is only as big a problem as the government makes it by making morally acceptable actions illegal. The primary reason for things like the war on drugs is to give the government an excuse to militarise the police, and target people and communities they want kept down. 



#82
Alislaws

Alislaws

    Democratic Socialist Materialist

  • Members
  • PipPipPipPipPipPip
  • 722 posts
  • LocationLondon

Bitcoin tops $15,000, 12 hours after clearing $14,000 

 

https://www.msn.com/en-gb/money/news/bitcoin-tops-dollar15000-12-hours-after-clearing-dollar14000/ar-BBGl5pv?li=AA54rU&ocid=spartanntp

 

Zooooooooom!

 

 

EDIT: Anyone on the forum own any bitcoins? (or part of them) I'd enjoy reading about it more if I could calculate how much money you were gaining.

One thing that is pretty funny is how there are going to be a lot of small time drug dealers who are suddenly earning hundreds of thousands of $s in capital gains.



#83
Yuli Ban

Yuli Ban

    Nadsat Brat

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 17,155 posts
  • LocationAnur Margidda

Australian stock exchange to move to blockchain

Australia's main stock exchange has said it will become the first global market to use the technology behind Bitcoin to clear and settle trades

The Australian Securities Exchange (ASX) will replace its current clearing system with blockchain technology.
The new system has been in development and testing for more than two years and aims to cut the cost of transactions, and make them faster and more secure.
A timeline for the transition to the technology will be given by March.
ASX chief executive Dominic Stevens said the move to distributed ledger technology - also known as blockchain - will "put Australia at the forefront of innovation in financial markets".


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!

#84
Yuli Ban

Yuli Ban

    Nadsat Brat

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 17,155 posts
  • LocationAnur Margidda

fhzsxgcv9nyz.jpg


  • eacao likes this
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!

#85
Yuli Ban

Yuli Ban

    Nadsat Brat

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 17,155 posts
  • LocationAnur Margidda

And a tragic story involving bitcoin, one I was always wondering about since the first spike in 2013.
 

My brother killed himself because of BTC

I don't really know where to post this but I feel like I need to vent.
Do not take this as criticism of Bitcoin, blockchain technology, or cryptocurrency users & developers, it's not.
There are probably other factors that led to my brother's suicide, but he had been beating himself up over Bitcoin for the past several years to the point where he seemed constantly depressed over it and gradually became a shadow of his former happy self.
He claimed to have owned 15,000 at one point, which may have been an exaggeration. But I know for a fact that at some point around October-November 2012 he did have at least 6,000 BTC which he showed me in his wallets. He was so enthusiastic about Bitcoin and how cryptocurrencies would revolutionize the financial world. For awhile he was annoying the fuck out of our relatives about how it would make them millionaires.
I'm not sure exactly what happened to his BTC. Sometime in 2013 he claimed to have lost most of them in a hack and sold the remainder too early. He very well may have sold them all too early, but who knows.
As the price took off in late 2013-early 2014 you could tell he was distraught over it and became increasingly withdrawn from family and friends. Whenever I did manage to contact him he would sometimes end up ranting about how badly he had fucked up and how he would never have a chance to be rich again.
As the price climbed up to 10k over the past several months it became even more difficult to make contact with him, he just wouldn't reply to me or my parents calls and texts. A couple weeks ago my parents flew out to see my brother and found him dead by suicide with no note. He was 29 with 50 years of life ahead of him.
Other than obvious grief I don't really know how to feel about this. If I had missed out on $50M I might have killed myself too. I can't imagine what my brother must have been feeling these past several years knowing he missed his best & easiest shot at the wealthy life he had always fantasized about. Bitcoin totally fucked up his mindset to the point where you couldn't talk about anything related to investing, money or finances without him storming off or crying.
If there's any more of you in a similar situation feel free to PM me. Please try to recognize there are endless economic opportunities in life and 1 mistake doesn't define your future. There are family and friends who care about you and will listen.


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!

#86
PhoenixRu

PhoenixRu

    Member

  • Members
  • PipPipPipPipPipPipPipPip
  • 2,519 posts
  • LocationRussia

Australia's main stock exchange has said it will become the first global market to use the technology behind Bitcoin to clear and settle trades

 

Yes, good... but, still, you should not mix these two things and their future:

 

1) Blockchain as new and progressive method of finansial transactions. Will be eventually adopted by many (if not all) banks, stock markets and so on...

2) Bitcoin as new quasi-currency with clearly visible features of financial pyramid. Will eventually collapse under its own weight and bury millions of naive "investors" under its ruins.

 

PS believe me, I'm telling this again and again not to troll or dissuade someone. I just saw a few financial pyramids from inside, so to say, and saw the behavior of their "investors": as long as pyramid is growing, this is almost religious faith and passion. Even the very smart men can fall into this trap and there are no any arguments capable to destroy this faith... but then, when everything begins to crumble... 


  • Alislaws 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.


#87
Mike the average

Mike the average

    Member

  • Members
  • PipPipPipPipPipPipPip
  • 1,477 posts
There seems to be 2 camps on whether futures will make BTC more or less volatile. Bitmex ceo thinks more volatile initially.

https://www.forbes.c...e/#37670f3255d0
'Force always attracts men of low morality' - Einstein
'Great spirits always encountered violent opposition from mediocre minds' - Einstein

#88
Mike the average

Mike the average

    Member

  • Members
  • PipPipPipPipPipPipPip
  • 1,477 posts
CBOE web site crashes on futures launch from too much traffic.

https://www.google.c...bpUNIeN&ampcf=1
'Force always attracts men of low morality' - Einstein
'Great spirits always encountered violent opposition from mediocre minds' - Einstein

#89
caltrek

caltrek

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 5,241 posts
Bitcoin Is No Bubble, Israeli Expert Insists: 'This Thing Is Just Going to Grow'
 

https://www.haaretz....siness/1.827584

 

Introduction:

 

(Haaretz) Eyal Herzog, considered one of Israel's leaders in internet tech, says 'the only thing that surprised me [with Bitcoin] is that it didn't happen sooner'

Bitcoin was born on January 3, 2009, the brainchild of an obsessively secretive Japanese software programmer who called himself Satoshi Nakamoto. It isn’t even clear if Nakamoto exists; if he does, he’s never given an interview or allowed his picture to be taken. Maybe it’s a whole group of programmers. Some even claim bitcoin was created by an espionage agency.

 

Whoever created it, on the day it was issued, one bitcoin was worth 5 cents. Within three months it had climbed 17-fold. Since its launch, bitcoin had fluctuated wildly. In mid-September it was trading at about $3,220. On Thursday, it was trading at about $15,900.

 

Israeli market players were captivated by the unregulated cryptocurrency from its get-go, and have never stopped arguing over whether it’s a scam, a bubble, a money-laundering tool or a real thing. Well, it’s still around, swinging crazily in value but never retreating to its starting price, despite scandals like massive thefts by hackers, including in early 2014 at Mt. Gox, the main bitcoin trading arena, which admitted that 850,000 coins had been stolen, worth some $450 million, then collapsed, suspending trading and going into liquidation. Later, as the lawsuits and inquiries unfolded, it transpired that theft from the company had begun in 2011.

 

So? From mid-August 2016, bitcoin has risen from just over $580 to, as we said, nearly $16,000. I didn’t understand bitcoin’s behavior at its launch and still don’t. Market players involved in cryptocurrency seem to shrug off the doubts and scandals, however. Here we talk with a believer, albeit one who seems to feel the real gain lies in the future. (See linked article for further discussion).

1725150441.jpg

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017.
REUTERS/Dado Ruvic/File Photo

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


#90
Yuli Ban

Yuli Ban

    Nadsat Brat

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 17,155 posts
  • LocationAnur Margidda

I had a thought: what if we used blockchain to subvert the radio oligopoly? Ever since the Telecommunications Act of 1996, radio has been basically owned by a small handful of companies, hence why it seems so bad nowadays. 

With blockchain, we could possibly get around that.


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!

#91
Mike the average

Mike the average

    Member

  • Members
  • PipPipPipPipPipPipPip
  • 1,477 posts
How can a blockchain be used for radio?
'Force always attracts men of low morality' - Einstein
'Great spirits always encountered violent opposition from mediocre minds' - Einstein

#92
Yuli Ban

Yuli Ban

    Nadsat Brat

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 17,155 posts
  • LocationAnur Margidda

Internet radio.


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!

#93
Jakob

Jakob

    Fenny-Eyed Slubber-Yuck

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 5,255 posts
  • LocationIn the Basket of Deplorables

I had a thought: what if we used blockchain to subvert the radio oligopoly? Ever since the Telecommunications Act of 1996, radio has been basically owned by a small handful of companies, hence why it seems so bad nowadays. 

With blockchain, we could possibly get around that.

I think this is an excellent idea, unless the big-government authoritarians come in and ban bitcoins. If the free market is allowed to flourish, monopolies will be destroyed.


Click 'show' to see quotes from great luminaries.

Spoiler

#94
Yuli Ban

Yuli Ban

    Nadsat Brat

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 17,155 posts
  • LocationAnur Margidda

There are so many things wrong with those two sentences, I can't even begin to break it down. The only thing right is that big-government authoritarians can at least try to ban bitcoins.


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!

#95
Zeitgeist123

Zeitgeist123

    Member

  • Members
  • PipPipPipPipPipPipPipPip
  • 1,802 posts

 it does seem like the concept of cryptocurrency is just a matter of when than if. and bitcoin is the first cryptocurrency that reached critical mass and it has been predicted repeatedly to have a bubble but what i learned after all these years of us discussing bitcoin is that it is resilient as technology will become highly reliant on virtual currencies. whether there would be a crash, which i believe would happen, btc will always come back up like any traditional currencies. except that cryptocurrency are more prone to easily come back up than traditional currencies because of lack of regulations and it isnt easily lost physically. regular people who trade bitcoins just put it in there with the thought that this isnt like real money anymore but more of a gambler's token.


“Philosophy is a pretty toy if one indulges in it with moderation at the right time of life. But if one pursues it further than one should, it is absolute ruin." - Callicles to Socrates


#96
caltrek

caltrek

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 5,241 posts

Africa’s SureRemit joins the tokenized race to win the global remittance market

 

https://techcrunch.c...ittance-market/

 

Introduction:

 

(Tech Crunch) Nigerian based SureRemit has launched a crypto token aimed at money sent home by global immigrants.

 

The startup — which is incorporated in Mauritius — offered pre-sales of its remittance focused tokens this week, before a January 2018 ICO. SureRemit will use blockchain partner Stellar’s platform.

 

The company is connecting its crypto product — which is not redeemable by consumers for cash — to a network of pre-approved merchants in Nigeria, Kenya, and Rwanda. SureRemit plans to launch in India and the Middle East in the second quarter of 2018.

 

Clients can use SureRemit’s app to present tokens as payment for things such as utility bills, student tuition, and online consumer goods. African e-commerce giant Jumia is among its merchant partners.

 

There’ll be no purchase or transfer fees for the tokens above face value. SureRemit will generate revenue from businesses, who pay a percentage on each token transaction, and then redeem the tokens (less fees) for cash from SureRemit. 

sureremit-2.png?w=605


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






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

1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users