What do you think about cryptocurrencies?

[MineHarvest66]

6 minutes ago, Paul said:

Aaaaaand.. it's gone! Crypto correction, markets down massively in the past couple days. On second hand, maybe it's an opportunity to buy more.  

Yup you can't go wrong with the basic advice of "buy low sell high". Investing in a "nutshell" is just understanding WHEN to buy and WHEN to sell. 

[Paul]

On 1/17/2018 at 9:48 AM, MineHarvest66 said:

Yup you can't go wrong with the basic advice of "buy low sell high". Investing in a "nutshell" is just understanding WHEN to buy and WHEN to sell. 

Buy low sell high is so simple, and yet most people don't do it! Crypto looking up recently, especially my favorite: Stellar Lumens (XLM) 

[Michael]

Lol true I think I only want digibyte coins but accept more

[Paul]

Weiss came out with a ranking of crypto currencies today, PDF attached. weiss-cryptocurrency-ratings.pdf

This is driving the market right now.

[Michael]

10 minutes ago, Paul said:

Weiss came out with a ranking of crypto currencies today, PDF attached. weiss-cryptocurrency-ratings.pdf

This is driving the market right now.

Bitcoin Gold? WTF lol

[Paul]

1 hour ago, BlestaStore said:

Bitcoin Gold? WTF lol

Yeah, don't buy bitcoin gold, lol. I'm not sure how much weight to give this report, but I am not going to complain that Stellar got a B, the best rating of any coin in their analysis. Too the moon!

[Tiny]

I believe, cryptocurrencies will take over in future, but a long way to go.

Currencies are usually government controlled and at this early stage, no government is able to take control or control it. This something very new, for old fashion governmental institutions, who often work brainless and only are interested in making the biggest cut. 

Old fashion politics, state structures have to be torn down, before a global cryptocurrency can succeed.

However, in closer future, I can imagine cryptocurrencies on local level, as parallel currencies to existing currencies

[Paul]

9 hours ago, Tiny said:

I believe, cryptocurrencies will take over in future, but a long way to go.

Currencies are usually government controlled and at this early stage, no government is able to take control or control it. This something very new, for old fashion governmental institutions, who often work brainless and only are interested in making the biggest cut. 

Old fashion politics, state structures have to be torn down, before a global cryptocurrency can succeed.

However, in closer future, I can imagine cryptocurrencies on local level, as parallel currencies to existing currencies

Thanks for resurrecting this thread  It's been an interesting year for cryptocurrencies, bitcoin is now back over $8k after falling from nearly $20k in December to below $6k.

I agree with you - a lot has to change for cryptocurrencies to replace fiat currencies. But, I don't think that has to happen for it to be widely adopted. We're seeing IBM working with others to create "Stable Coins" on the Stellar network. When you have a digital currency, fully backed by the US dollar and FDIC insured, you have something people can trust. In the same way that people used paper notes in place of their gold and silver (Which they could redeem for the gold and silver), a stable coin could do the same with our current fiat. The result ends up being cheaper, immediate, irreversible transactions. Businesses like crypto because there's no such thing as a chargeback.

I think we'll see a continual rise in crypto. It may never replace fiat currencies totally, but it doesn't have to.

[Tiny]

9 hours ago, Paul said:

Thanks for resurrecting this thread  It's been an interesting year for cryptocurrencies, bitcoin is now back over $8k after falling from nearly $20k in December to below $6k.

 I agree with you - a lot has to change for cryptocurrencies to replace fiat currencies. But, I don't think that has to happen for it to be widely adopted. We're seeing IBM working with others to create "Stable Coins" on the Stellar network. When you have a digital currency, fully backed by the US dollar and FDIC insured, you have something people can trust. In the same way that people used paper notes in place of their gold and silver (Which they could redeem for the gold and silver), a stable coin could do the same with our current fiat. The result ends up being cheaper, immediate, irreversible transactions. Businesses like crypto because there's no such thing as a chargeback.

 I think we'll see a continual rise in crypto. It may never replace fiat currencies totally, but it doesn't have to.

"When you have ...." and exactly, here we are on a regional digital parallel currency, controlled by some local state bank, integrated in ages old power structure. Doomed, to follow the same wrong way, of current currencies .What really is there "new"?  You can pay via a link? We actually have this since years. Just doing this plugins and modules.

A GLOBAL cryptocurrency would be something really new, but local it would change anything significant.