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Hey Nerds: Blockchain

Druckenmiller (greatest investor ex Buffet)

"it takes the same amount of energy to do one bitcoin transaction that it takes to power nine homes in the US. By 2019 it’ll take up half the energy in the united states to run the bitcoin network"
 
When all this got big a week or two ago, I started to think about buying some ether. When I was looking, it was around 450. Now, a week later when I poked around more to actually start looking to fund it, it's already doubled from that price. Damn...
 
The question to me is whether it's going to pop at 30K, 300K, or 3 million.

But there is very likely to be a massive, historic devaluation at some point where it sheds huge value very quickly.
 
Long term, Bitcoin is 500K or Zero. Good risk reward. But don't expect it to move in a straight line.HODL

I like ether as a longterm blockchain play. But not in right now.

My blockchain play (options in OSTK) have tripled since I mentioned it here 10 days ago.
 
My problem with bitcoin is that the price isn't stable - which diminishes the use of it long term. I read somewhere that the power to run a transaction will run it into the ground - anyone else hear that?
 
Blueman said:
My problem with bitcoin is that the price isn't stable - which diminishes the use of it long term. I read somewhere that the power to run a transaction will run it into the ground - anyone else hear that?
Click to expand...

Yeah, if it works, it'll be like gold -- a "permanent" store of value backed by a limited supply.

It's useless as a mode of exchange, unless you want to purchase big blocks of heroin or hire a hitman.
 
CH1 said:
Yeah, if it works, it'll be like gold -- a "permanent" store of value backed by a limited supply.

It's useless as a mode of exchange, unless you want to purchase big blocks of heroin or hire a hitman.
Click to expand...

Yeah, it makes more sense as the modern "gold standard" as opposed to an actual useful currency. I really can't see it as ever getting the throughput to actually be a useful method for small transactions, but I could see it somehow on top of a credit card system. ie. I use my MC or Visa to make all my purchases, but I pay off my CC bill with bitcoin. That way it limits everyone to only a handful of transactions with it per month, and in transactions that don't necessarily need as instant communications.

Whether it's useful enough as a technology for that, though, I'm not convinced of. I certainly don't want my credit card bill doubling by the time i pay it off if the currency is that volatile...
 
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Habsy said:
What's your take on Ripple (XRP)?
Click to expand...

I liked it when I was eyeing it at .24 last week. (I like the global payment angle) But I was too slow on the trigger. Will revisit if/when the parabolic move takes a breath.

I'm currently content playing the crypto mania with OSTK and penny stock DIGAF
 
CH1 said:
I liked it when I was eyeing it at .24 last week. (I like the global payment angle) But I was too slow on the trigger. Will revisit if/when the parabolic move takes a breath.

I'm currently content playing the crypto mania with OSTK and penny stock DIGAF
Click to expand...
You think .75 is peak? Expecting a downturn from selloff?
 
Was going to get in on Neo at 33 and balked because I had to buy bitcoin first and then transfer. Got lazy and said **** it.

80.50 today and rising

Good job stupid

Sent from my SM-G920W8 using Tapatalk
 
Habsy said:
You think .75 is peak? Expecting a downturn from selloff?
Click to expand...

We're in mania territory, so it's very hard to have short term expectations that make any sense. These moves make it very hard for me to manage risk in the short term.

For long term plays, I'd prefer ether and if I was an accredited investor, I'd be tempted by Filecoin (which had its ICO a few months back) and TZero (which started its offering today)
 
Artnes said:
Was going to get in on Neo at 33 and balked because I had to buy bitcoin first and then transfer. Got lazy and said **** it.

80.50 today and rising

Good job stupid

Sent from my SM-G920W8 using Tapatalk
Click to expand...

That's the other thing -- they don't make it easy to buy this stuff. coinbase messed up my initial registration last summer. I never bothered to correct them --- BTC was only $600 back then. LOL. thank goodness for my pot stocks
 
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