Use this thread to discuss the various cryptocurrencies and the issues that surround them. Since a good chunk of what can be discussed about them is not really related to finance purely, i figured it could use it’s own thread.
Do you guys think that the current dip will end anytime soon? How about the technology that ethereum uses? is it going to make for good smaller transactions than Bitcoin?
Buy the dips!
How do I buy cryptos safely you bitches. Litecoin specifically.
its a bubble and its going to pop soon, so watch out!
Define safely, safe from fraud, safe from tracking or being a safe investment.
Because your only guaranteed safety that your now owned cryptocurrenty can’t be tracked for spending.
Safe from fraud like not handing out personal info to be stolen.
I think crypto is interesting, and I hope one day it will function as a gold/silver substitute (hedge against fiat), but I’m not putting anything in that casino right now. I wouldn’t put anything in crypto I cared about losing. I would also be more interested in playing around with it if they had something like my Fidelity or Charles Schwab account interface to move between the currencies. If anyone knows of such a site I am interested in giving it a go.
Crypto, as an investion, is a Ponzi scheme.
Otherway, the blockchain as a proper technology is an interesting thing to study. At the moment, either you’re a top tier financial vulture or mostly your chances are “Raped in the wallet”.
Cryptocurrency right now is alot like the Californian gold rush
High Risk for Minners with little chance at a real reward, equipment isn’t cheap ether.
Real money like back then in the gold rush as it is now with people who sells equipment to the minners.
Until fairly recently with ASIC proof currencies, the ASIC industry was making bank.
Also Cyrptocurrency being outlawed in China did some substantial damage to the field.
It leveled the playing field for the west As the Chinese is paying little for electricity, but the value of the cyptocurrency crashed.
For the GPU/ PC part market, Cryptocurrenty is a source of major instability. The current supply/manufacturer system too slow to keep up with cyrtocurrency demands as orders for GPUs to board partners to make more graphic cards happen quarterly, and they partners make there numbers based from requests from Retailers. Also other than PSUs and PCI risers, Cyrptocurrency miners don’t buy anything, they do not buy any accessories, have zero brand loyalty, immune to marketing and outreach and unlikely to be a repeat customer. Also Cyptocurrency miners are more likely to RMA defective devices so much some board partners are now manking a anti-cryptocurrency clauses in their warranties and Mining only cards have 1/3 the warranty period. And cards used for cryptocurrency are ill-suited for resale as they have much more wear and tear than a card use for gaming in the same time period. A 2nd hand card from a minner is more likely to fail than the same card from a gamer.
imo cryptocurrency is basically a speculative investment. btc currently fails as a currency for multiple reasons:
I’m hanging in because I like the idea of it. Its just not fleshed out. I’d rather send Bitcoin than give a company my cc info. Credit cards are stupid if not for the fact that banks will support you.
So I’m going to put a $100 in btc, ethereum ans maybe litecoin and HODL
Its for this reason I go though 3rd party pay options like Paypal or Google Wallet, because there is a 3rd party paying you actually have additional legal rights than if its just a bank and a business.
And all if it is highly regulated.
That protections I get if something goes wrong with blockchain transactions? And If I am not mining you still need a Credit Card to buy Bit Coins.
if u wanna be super safe u need to cold storage and print out the keys on a piece of paper and guard it with your life. i just use coin bases.
yeah but you still need to give gw or paypal some kind of payment info (usually cc)
I don’t like the idea of having that stuff be sent through web traffic or stored in databases. I know they encrypt it but i also know developers get lazy when deadlines are close.
with Bitcoin you can actually get them with cash, but you need to meet someone in person.
but with that being said, i still use cc for everything because it actually works correctly. I can’t think of anything I need Bitcoin for at this time aside from investments to see what happens. But if they got rid of the slowness, the transaction fees and get some decent regulations i would rather use it than a cc.
imagine paying for gas with Bitcoin where you don’t need to worry about those cc readers stealing your info. at worst they could possibly take a few dollars from you but only once
I hope the market dies hard so GPU prices can go back down to affordability status again.
if you had invested in bitcoins early on and had a few, they would
I don’t give a shit about investing in bitcoins, I want the GPU prices to come the fuck down.
There’s NO goddamn reason basic GTX *1060 *cards have to be costing $***600 ***dollars!
Get the fuck outta here with that shit.
welcome to capitalism mother fucker
I have Ethereum and Litecoin…we’ll see how things go. I cashed out and made small profits before the major dips but we’ll see where things go this year
Paypal never sends any Credit card info to the seller. All they see if your Paypal name and if applicable a verified mailing address.
Example I pay Sony’s PSN with my Paypal account, if Sony gets hacked (again) all the hackers get is a paypal ID, no credit card info is exchanged. Hackers try anything with Paypal, I can open a dispute with paypal and they can lock the hackers out of their Paypal account if they feel the people sending invoices are doing it fraudulently. I have to literally authorize each and every transaction. They can’t just charge my account or my credit card.
Also if there is a dispute I have with Sony, I can take it with Paypal and my Bank and its now their obligations to work together against Sony leaving me off the hook.
Back before online payment, you have Cash, Check, Credit card (via carbon copy transfer) and Money Order.
Lets say your paying the Electric Company, you can drive to their office and pay in person and get a recipe showing you paid, or mail in a Check, Money Order or fill out a form for a Credit Card payment.
If the electric company claim they never got payment, with the check or credit card you have to go to the bank and hope they cancel the transaction and you are force to try again.
Now with the Money Order, as they are a 3rd party, you contact the money order people and they call the Electric company on your behalf, and because the 3rd party involved its the Electric company’s responsibility to find the missing Money order. And thats all thanks to regulations.
With Bitcoin and other cryptocurrenty there no regulations that specifically apply.
if I pay someone with Bitcoin and they run with my money, who do I go to? Better Business bureau? LOL, what a joke.
