Skip to comments.
Gold 2.0 NOT Tulip Mania: How Big Is The Cryptocurrency Opportunity?
Market Oracle, UK ^
| 5 December, 2013
| DK_Matai
Posted on 12/05/2013 1:02:19 PM PST by Errant
click here to read article
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-60, 61 next last
I rate this article a good one with shared insight on what may or may not (too early to tell) prove a historic change in how the world does business. One item I disagree strongly with the author about, is his suggestion that crypto-currency transfers are anonymous. With the right tools, transfers might eventually be traced all the way back to the creation of the actual crypto-unit used.
1
posted on
12/05/2013 1:02:20 PM PST
by
Errant
To: Errant
You do not want a currency that can swing +- 500% over a week, costs commission to obtain and cost even more commission to sell and is only good as long as nobody figures out how to cheat it.
2
posted on
12/05/2013 1:08:43 PM PST
by
Usagi_yo
To: Usagi_yo
Except for the +- 500% in a week, you could be talking about FRNs, or any other fiat currency. And except for the huge increase in value (not a bad thing in my book), its ability to recover from downturns is pretty amazing.
Mt. Gox: Last:$1,130.00000
3
posted on
12/05/2013 1:16:11 PM PST
by
Errant
To: Errant
In before the reflexive “bit torrent is a scam” drooling idiot who says nothing else.
4
posted on
12/05/2013 1:19:59 PM PST
by
gaijin
To: Errant
currency bump for later.....
5
posted on
12/05/2013 1:23:08 PM PST
by
indthkr
To: Errant
With the right tools, transfers might eventually be traced all the way back to the creation of the actual crypto-unit used. The idea behind that is to make it more expensive to decrypt than the reward would yield. That tends to be a moving target.
In answer to the title question: the opportunity is great but very risky, but so are junk bonds or the wilder regions of the stock market. Caveat emptor.
To: Errant
bitcoin might not be “it” but I think a secure online monetary system is very possible
7
posted on
12/05/2013 1:27:03 PM PST
by
GeronL
(Extra Large Cheesy Over-Stuffed Hobbit)
To: Usagi_yo
8
posted on
12/05/2013 1:27:18 PM PST
by
GeronL
(Extra Large Cheesy Over-Stuffed Hobbit)
To: Errant
If a bitcoin’s worth a grand, how do you use it to buy somethinig worth $100?
Can these electronic apps allow you to buy something electronically with precious metal holdings instead of needing to use a crypto-currency?
9
posted on
12/05/2013 1:28:26 PM PST
by
JediJones
(The #1 Must-see Filibuster of the Year: TEXAS TED AND THE CONSERVATIVE CRUZ-ADE)
To: JediJones
good question why just botcoin? why not apps that let you use many different kinds of currency, even gold and silver?
10
posted on
12/05/2013 1:34:15 PM PST
by
GeronL
(Extra Large Cheesy Over-Stuffed Hobbit)
To: gaijin
It's the same crowd who've said the steamboat was just a folly, man would never fly, and computers would never be useful. ;)
We can only survive now through technological innovation. Technology in the hands of individuals may allow us one day to even slow down the intrusion of tyrannical governments or other monopolistic entities into our daily lives and help to make all people truly free, as our founders and the Almighty intended.
11
posted on
12/05/2013 1:34:15 PM PST
by
Errant
To: GeronL
I’d invest in the apps that could do that before investing in Bitcoin itself.
12
posted on
12/05/2013 1:36:20 PM PST
by
JediJones
(The #1 Must-see Filibuster of the Year: TEXAS TED AND THE CONSERVATIVE CRUZ-ADE)
To: GeronL
bitcoin might not be it True, but it is the first "it" of its kind... ;)
You gotta start someplace.
13
posted on
12/05/2013 1:37:26 PM PST
by
Errant
To: JediJones
Yep.
I had an idea for an online currency once. In my plan there was a 1 to 1 correlation with the US dollar, AT FIRST. The idea was to not depreciate the online currency while the US dollar would become less and less valuable.
Too bad I didn’t have the means to do it, but it definitely would not have been as flashy as bitcoin.
14
posted on
12/05/2013 1:39:12 PM PST
by
GeronL
(Extra Large Cheesy Over-Stuffed Hobbit)
To: Errant
A lot will be learned from bitulips
15
posted on
12/05/2013 1:39:40 PM PST
by
GeronL
(Extra Large Cheesy Over-Stuffed Hobbit)
To: JediJones
A Bitcoin can be subdivided into 0.0000001 units (eight decimals IIRC).
16
posted on
12/05/2013 1:40:41 PM PST
by
Errant
To: Errant
The words “Internet” and “anonymous” should never be used together in the same sentence unless the phrase “Not a snowball's chance in hell is the” precedes them. ;-)
17
posted on
12/05/2013 1:42:14 PM PST
by
Mad Dawgg
(If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
To: GeronL
There are no limits on how many tulips can be raised, given land and sunlight or even hydroponics. The creators of Bitcoin limited the total number able to be mined to about 22M.
18
posted on
12/05/2013 1:44:54 PM PST
by
Errant
To: Mad Dawgg
19
posted on
12/05/2013 1:46:13 PM PST
by
Errant
To: Mad Dawgg
And couldn’t this new system make the dollar worthless?(more worthless)
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-60, 61 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson