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Bestbud
08-14-2018, 09:56 AM
"The value of the entire cryptocurrency market has fallen by around 10% over the last 24 hours, according to CoinMarketCap.com."

https://www.businessinsider.com/bitcoin-price-august-14-entire-crypto-market-crashes-2018-8?r=UK&IR=T

HARRISON
08-14-2018, 01:58 PM
"The value of the entire cryptocurrency market has fallen by around 10% over the last 24 hours, according to CoinMarketCap.com."

https://www.businessinsider.com/bitcoin-price-august-14-entire-crypto-market-crashes-2018-8?r=UK&IR=T

I always thought crypto currency was fools gold. It never had any value other than the supply and demand for it. The whole mining process of solving maths puzzles in computers so you can 'mine' the money is absurd: The Emperor Has No Clothes :throw_computer:

Daveyw
08-14-2018, 06:56 PM
A colossal waste of resources too. Not just the amount of electricity it takes to mine thin air (crypto) which is ridiculous.
If the amount of computing power they use was put to some purposeful use. Imagine what good be achieved.

HARRISON
08-15-2018, 12:45 AM
A colossal waste of resources too. Not just the amount of electricity it takes to mine thin air (crypto) which is ridiculous.
If the amount of computing power they use was put to some purposeful use. Imagine what good be achieved.

Mining Thin Air! Nice one...so true!:RpS_thumbsup:

KammieD
08-17-2018, 08:33 PM
Cryptocurrency and blockchain are the world's largest scams ever, IHMO.

nuk_1
08-20-2018, 07:02 AM
Cryptocurrency and blockchain are the world's largest scams ever, IHMO.

The blockchain concept definitely has a future and serious potential value. Cryptocoins? Ehhh....not so much, except in limited capacities that traditional banking either tries to shun or can't figure out a universal solution for like legal pot industry in the USA, gambling, porn, and of course, illegal stuff. That means crypto not on Bitcoin-like public ledger blockchain but on obscured blockchains like Monero and a few others use. Even then, it sure won't be widespread ever and will have a real liquidity problem.

NUK

ribshaw
08-20-2018, 12:04 PM
I thought this https://www.barrons.com/articles/blockchain-is-starting-to-show-real-promise-amid-the-hype-1534554901 was an interesting article on blockchain.




Crypto in general seems like a lot of smoke and mirrors with little universal application. Despite the foot stomping most is the ultimate "fiat" created from thin air and backed by nothing. At least governments have assets and the ability to tax kinda back what they print. We've heard from gold bugs for years that the dollar will collapse, and some day it might. People who think this can simply short the dollar(bet on its decline) or buy any manner of hard assets on established exchanges with zero counterparty or risk of theft.

Other than the massive price run much like Beanie Babies I'm still at a loss as to the why of crypto.

Daveyw
08-20-2018, 12:19 PM
You're not alone, even the names wrong. Everyone's running about calling it crypto currency when they're trading it like a stock. Theyre digital assets, and even that's debatable.

https://blokt.com/news/over-50-percent-of-the-top-cryptocurrencies-serve-no-function/amp?__twitter_impression=true

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Whip
08-20-2018, 12:22 PM
it's vaporware