Is Cryptocurrency The Future?

[kail]

There are 229748 pending bitcoin transactions right now.

Bitcoin processes 10 transactions per second.

So that means when you use bitcoin to buy a Big Mac, you're going to have to wait hours for that transaction to go through. Bitcoin isn't going to replace currencies because of the slow transaction time.

No that means whenever you initiate a transaction, it will take a few hours to finalize but the transaction alone is still going through. It sometimes takes days for my Chase and Capital One card purchases to finalize as well. When a BTC transfer starts, there is no stopping it which means they are impossible to request a charge back.

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A currency of the future exchange firm got caught doing insider trading allowing early adopters to sell for gross 5000$ worth of profit per bitcoin.

#TotallyNotAPiramidScheme

http://www.bbc.com/news/technology-42425857

Quick note, BTC (Bitcoin) isn't BCH (Bitcoin Cash).

[Mittens]

^^TY for the correction.

[Logwyn]

well, in every SF movie there is, they use some form of virtual currecny, be it SW credits or something else, that is universal trough the republic/empire

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i think i read somewhere that either paypal or steam started accepting bitcoins recently, so thats a start i guess

The current dollar is almost a complete virtual currency the only thing I generally use now where cash passes hands is getting a hair cut. Even if you look at something like Star Trek there was physical currency out there.

The trouble with these currencies is that the current mega-banks are going to do their best to control and take them over.

But also the strict control over the supply is worrying. Tightening the money system generally causes inflation (I think).

[Mittens]

The only thing I can say right now is LMAO. Currency of tge future!

[Strawberry]

The only thing I can say right now is LMAO. Currency of tge future!

Christmas around the corner, New Year right there, Chinese New Year in less than a couple of months. This is not bubble popping as the timing is just before Christmas, it's just people cashing out on their gains.
It will bounce back after the holidays, my guess is late January/early February.

Funny how some of you are ready to cheer that some people are losing money. Such a toxic community. But hey, anything just to be right, huh?
Well you're not in this case

[Mikah]

Fortunately, I sold half of what I had when the value doubled.

In other words, even if Bitcoin drops to 0, I loose nothing!

[Iamanerd]

Christmas around the corner, New Year right there, Chinese New Year in less than a couple of months. This is not bubble popping as the timing is just before Christmas, it's just people cashing out on their gains.
It will bounce back after the holidays, my guess is late January/early February.

Funny how some of you are ready to cheer that some people are losing money. Such a toxic community. But hey, anything just to be right, huh?
Well you're not in this case

It is kinda funny how people want to see it crash or laugh at others over it. Yet the way Crypto is acting right now is very common in the stock market as well for people to take their gains/losses for tax season. If anything this is a time to BTFD, those laughing at this fail miserably at investing or learning any kind of market.

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Fortunately, I sold half of what I had when the value doubled.

In other words, even if Bitcoin drops to 0, I loose nothing!

That's always a good plan, if it goes to the moon you make a good chunk of change and if something bad happens you walk away without losing.

[Mittens]

Christmas around the corner, New Year right there, Chinese New Year in less than a couple of months. This is not bubble popping as the timing is just before Christmas, it's just people cashing out on their gains.
It will bounce back after the holidays, my guess is late January/early February.

Funny how some of you are ready to cheer that some people are losing money. Such a toxic community. But hey, anything just to be right, huh?
Well you're not in this case

An asset loosing 30% of its value in one morning is more than just people cashing out for Christmas (lol).

[Zoibert the Bear]

Christmas around the corner, New Year right there, Chinese New Year in less than a couple of months. This is not bubble popping as the timing is just before Christmas, it's just people cashing out on their gains.
It will bounce back after the holidays, my guess is late January/early February.

Funny how some of you are ready to cheer that some people are losing money. Such a toxic community. But hey, anything just to be right, huh?
Well you're not in this case

These people are just afraid of what they do not understand. They are late to the party and the delicious chocolate cake is gone.

Meantime, some of us understand the fact that while some see a dip and panic, this is in reality a coin sale

Then HODL.

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An asset loosing 30% of its value in one morning is more than just people cashing out for Christmas (lol).

Smaller things have caused huge dips like this one, there is nothing new to this.

These dips are what make me money, so feel free to panic over it, this is actually good for serious traders in the long run.

[Strawberry]

An asset loosing 30% of its value in one morning is more than just people cashing out for Christmas (lol).

Here's my portfolio. Notice the last 1h gains. People are just cashing out. It's not a bubble bursting.






I'm just pissed off that I didn't predict this and sold everything for USDT and then bought back at much lower price.

[Doctor Amadeus]

We already went over this, let's not do it again

Anyway while I am a big supporter of Crypto, I'm getting a bit wary of Bitcoin.
I believe it's very volatile for one simple reason. Its sky high fees.

It's still the big boss and drags people back to it but, but other cryptos made to rival Bitcoin are dragging people away from it. Then back to it. And that's why its value is changing dramatically.

Its own popularity is choking it. I believe another crypto meant for trading will take over. Or more believable, there will be a few popular currencies along Bitcoin used for trading.

There are still cryptos meant for other things. Crypto is here to stay so "buckle up bitches"

Strawberry, I am not a hater I wish you all the fortune you can handle but seriously dude, it's not going anywhere, and it won't go anywhere until there can be some certainty as it relates to the market, and yeah I have held off calling it a scam because I DO NOT want to be one of those people.

But yeah, this is so far a MLM scheme, if you are making money great, but Honestly from me to YOU now, on the off chance YOU really put your money in this GET OUT NOW!

[Mittens]

These people are just afraid of what they do not understand. They are late to the party and the delicious chocolate cake is gone.

Meantime, some of us understand the fact that while some see a dip and panic, this is in reality a coin sale

Then HODL.

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Smaller things have caused huge dips like this one, there is nothing new to this.

These dips are what make me money, so feel free to panic over it, this is actually good for serious traders in the long run.

I'm pretty sure there are enough deluded people in the world that still believe bitcoin is going to be a currency of the future, but shit like this should make it obvious that as a currency bitcoin fucking sucks and it's nothing more than a speculative asset. Have fun tho and if you make money good for you.

[haxartus]

but shit like this should make it obvious that as a currency bitcoin ticking sucks and it's nothing more than a speculative asset.

The first stock market bubble was like 400 years ago, and people continue to fall for these.

[Strawberry]

Strawberry, I am not a hater I wish you all the fortune you can handle but seriously dude, it's not going anywhere, and it won't go anywhere until there can be some certainty as it relates to the market, and yeah I have held off calling it a scam because I DO NOT want to be one of those people.

But yeah, this is so far a MLM scheme, if you are making money great, but Honestly from me to YOU now, on the off chance YOU really put your money in this GET OUT NOW!

Now?
Why now?
Why not 2011? Or 2013? Or 2015? Why now, when it's almost 2018?

[Gorgodeus]

If by any chance you are among the survivors, I think buying stuff to survive will be your biggest concern. So yes, financial loss will be your biggest issue.

In the event of a global event that eliminated the internet, no one will be buying anything. They will be fighting for what they want.

[Doctor Amadeus]

Now?
Why now?
Why not 2011? Or 2013? Or 2015? Why now, when it's almost 2018?

Prudent questions

1 Because back then nobody really noticed Bitcoin like they are now, and mostly they didn't give a shit, recent activity has garnered it more attention for reason not all too clear.

2 Because of said attention people are going to push harder and scratch more often to peel back the layers of this thing, and so far it's already looking exactly the way i said it would a few days ago. Bitcoin is losing value because of that, not because it's ordinary ups or downs.

3 As I said the biggest issue with this is that it isn't supported by anything, none of the crypto currencies even the other crypto currencies besides bitcoin.


I will put it in simple way you can follow and track take a look at Sony and it's mamy failures of superior quality technologies that totally failed because guess what, the market didn't support it, nevermind that at least it was backed by a quality manufacturer who was secured and known for building quality products.


Now fast forward to now, it doesn't matter left, right, black or white, where your geography is, Cryptocurrency has the same problem, that everyone keeps talking about and way too many keep ignoring. Even if you choose to ignore conventional wisdom understand this.


#1&2 With more attention comes the realization that cryptocurrency IS NOT GOING TO BE SUPPORTED, in fact it's losing support because of it's lack of stability. That is why the market is reacting the way it is.


Seriously it isn't magic, it isn't complicated, if you sincerely want to invest fine but I would pull out almost all now, COULD Cryptocurrency eventually be a thing MAYBE, but there will be real reasons why that happens, and when those questions are answered then it would be a good time to by, or at least when there are signs it's being supported.


Here you go you get yourself some isolated land, a safe and some of this




Because then at least you can be sure that what you own is actually valuable, and supported anywhere.

[Animalhouse]

No.
The market is far to volatile.

If anything, something like IOTA based on tangle and not blockchain.
It is all a crap shoot...far too much fluctuation.

[sionus]

Many reseachers believe the current financial system is going to end. With Cryptocurrency there are lots of very good points about it which i have found online:

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No Inflation: Your money will stay around the same value.

Fraud: Cryptocurerncies are digital and cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs.

Identity Theft: When you give your credit card to a merchant, you give him or her access to your full credit line, even if the transaction is for a small amount. Cryptocurrency use a “push” mechanism that allows the cryptocurrency holder to send exactly what he or she wants to the merchant or recipient with no further information

Immediate Settlement: Purchasing real property typically involves a number of third parties, delays, and payment of fees. BBitcoin contracts can be designed and enforced to eliminate or add third party approvals, reference external facts, or be completed at a future date or time for a fraction of the expense and time required to complete traditional asset transfers.

Universal Recognition: If you do business globally, or travel frequently, you are often exposed to exchange rate risk; that is, the transaction can be affected by currency exchange rates. You may also be subject to fees associated with exchanging one currency for another, or find challenges in exchanging currency altogether. Fortunately, with cryptocurrencies like Bitcoin, that is a non-issue, as the digital currency is universally recognized at a given value. This helps to save time in determining a price for a transaction, as well as any fees associated with exchanging money from one form to another. As cryptocurrency is increasingly adopted around the world, it is going to make financial transactions faster and simpler, which is a great thing for everyone involved.

http://www.nasdaq.com/article/the-be...rency-cm753571

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Also, latest bitcoin value charts as price hits record high!

http://www.express.co.uk/finance/cit...-value-usd-gbp

Are you serious? Have you even seen how volatile bitcoin is? Just today it lost 1/3rd of it's value. Until it's stable, it can never be considered a replacement currency. None of your strength are reality.

[kaelleria]

It takes too long and too many resources to process transactions to ever be a real replacement currency.

[Themius]

It takes too long and too many resources to ever be a real replacement currency.

too long? you mean 18-20 minutes is too long (this is for btc by the way other coins are much faster) is too long? When credit card funds takes a day to four days checks take days and just about all transfers and payments of any type besides cash takes days.

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Prudent questions

1 Because back then nobody really noticed Bitcoin like they are now, and mostly they didn't give a shit, recent activity has garnered it more attention for reason not all too clear.

2 Because of said attention people are going to push harder and scratch more often to peel back the layers of this thing, and so far it's already looking exactly the way i said it would a few days ago. Bitcoin is losing value because of that, not because it's ordinary ups or downs.

3 As I said the biggest issue with this is that it isn't supported by anything, none of the crypto currencies even the other crypto currencies besides bitcoin.


I will put it in simple way you can follow and track take a look at Sony and it's mamy failures of superior quality technologies that totally failed because guess what, the market didn't support it, nevermind that at least it was backed by a quality manufacturer who was secured and known for building quality products.


Now fast forward to now, it doesn't matter left, right, black or white, where your geography is, Cryptocurrency has the same problem, that everyone keeps talking about and way too many keep ignoring. Even if you choose to ignore conventional wisdom understand this.


#1&2 With more attention comes the realization that cryptocurrency IS NOT GOING TO BE SUPPORTED, in fact it's losing support because of it's lack of stability. That is why the market is reacting the way it is.


Seriously it isn't magic, it isn't complicated, if you sincerely want to invest fine but I would pull out almost all now, COULD Cryptocurrency eventually be a thing MAYBE, but there will be real reasons why that happens, and when those questions are answered then it would be a good time to by, or at least when there are signs it's being supported.


Here you go you get yourself some isolated land, a safe and some of this




Because then at least you can be sure that what you own is actually valuable, and supported anywhere.

gold has no inherit value

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Strawberry, I am not a hater I wish you all the fortune you can handle but seriously dude, it's not going anywhere, and it won't go anywhere until there can be some certainty as it relates to the market, and yeah I have held off calling it a scam because I DO NOT want to be one of those people.

But yeah, this is so far a MLM scheme, if you are making money great, but Honestly from me to YOU now, on the off chance YOU really put your money in this GET OUT NOW!

you should invest in new technology and be an early adopter...this is like not investing in amazon or aol in the early 90s when the internet was becoming a thing.