Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)

[lucky_scrote]

The fact that bitcoin is not widely inaugurated into society does not measure it's success now, nor tomorrow. You are completely right that almost no businesses strictly accept bitcoin over FIAT. Government backed currencies are the way we handle transactions in almost every form of business. If the dominating currency was sea shells, gold coins, tulip bulbs or beads on a necklace then that is exactly the type of payment method that almost all businesses would be accepting as form of payment. To conclude that bitcoin isn't ground breaking or has a potential to completely change how we see money on the merit that our current system of FIAT money is completely dominating is nothing short of ignorant. Money has evolved over tens of thousands of years and FIAT money is just a mere dot on the spectrum. Money is forever evolving and we live in quite a wonderful era where things change much faster than ever. We live in a very rare space of time where everyone standing on earth has only been familiar with FIAT currencies and therefore It is difficult to imagine anything else is possible.

In regards to the point that the GBP is very stable I agree. Fiat currencies are majestic in holding its value to within x% in most of the largest economies but are a tragic long term store of value. Their nature dictates so and it is undeniably a flaw. Before fiat we could just acquire money and it would hold its value because it was an asset in itself, a feature that the GBP EUR and USD clearly don't exhibit.

[lucky_scrote]

Fantastic new video from Andreas. Worth the watch if you have 40 minutes free.

[lucky_scrote]

AA: Scaling strategies and adoption (6 minutes)

[TightEnd]

Cryptocurrency and football: the future or too volatile to be trusted?

https://www.theguardian.com/football/2018/jul/29/cryptocurrency-football-future-gibraltar-arsenal-fans?CMP=share_btn_tw …

[TightEnd]

"The fact that Cambridge Analytica happened showed that there is an issue with data ownership. You should own your complete data rights."

interview with Hal Robson-Kanu about his passion for blockchain technology:

https://www.independent.co.uk/sport/football/football-league/hal-robsonkanu-west-bromwich-albion-championship-interview-blockchain-bitcoin-cambridge-analytica-a8476756.html

[Marky147]

If he was into it that early, he's probably worth a few quid

Interesting article. Cheers.

[lucky_scrote]

If he was into it that early, he's probably worth a few quid

Interesting article. Cheers.

From my experience a lot of people that have been involved pre 2017 are not as well off as you think. Bitcoin surged from $100 up to $1200 in 2013 and then when Mt.Gox (a centralised exchange) was hacked it brought the price down to $220ish. A lot of people who owned bitcoin in this era were familiar with the turbulent cycles and therefore sell off some of their holdings over time so they aren't overexposed.

[Marky147]

If he was into it that early, he's probably worth a few quid

Interesting article. Cheers.

From my experience a lot of people that have been involved pre 2017 are not as well off as you think. Bitcoin surged from $100 up to $1200 in 2013 and then when Mt.Gox (a centralised exchange) was hacked it brought the price down to $220ish. A lot of people who owned bitcoin in this era were familiar with the turbulent cycles and therefore sell off some of their holdings over time so they aren't overexposed.

Gotcha, makes sense.

[pleno1]

what happened today?1

[lucky_scrote]

One day I will not hold any alts and just hold bitcoin.  My alts have been smoked to smithereens!

[DropTheHammer]

My alts have been smoked to smithereens!

Me too, into a loss now on my all-time crypto investments! Haven’t bought any since last year but considering buying some more a so really do believe in the long-term prospects of cryptos.

[tikay]

what happened today?1

I assume it was relayed to the SEC decision, coupled with the current bear run, as below;

https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-crash-sec-etf-decision-cryptocurrency-ethereum-ripple-a8482406.html


And here's a bit of a summary (not sure if a fair one) of the recent bear run;


https://www.coindesk.com/billions-lost-4-stats-that-show-a-crypto-market-in-decline/

[lucky_scrote]

Andreas Antanopoulus- Bitcoin explained to your mother.

[TightEnd]

A stunning stat: Bitcoin produces as much CO2 a year as a million transatlantic flights

https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency

[SuperJez]

Ethereum taking a real hard pounding recently, anyone know what's going on?  It seems to have decoupled now from BTC which is still down from all time high's but not anywhere near as bad as ETH.