Fear of missing out

This is a discussion on Fear of missing out within the Cryptocurrencies forums, part of the Markets category; There are currently 1300 cryptos. The majority will fail of course, but cryptos are here to stay, so instead of ...

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Old Nov 27, 2017, 3:41pm   #9
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There are currently 1300 cryptos. The majority will fail of course, but cryptos are here to stay, so instead of just dismissing this arena out of hand, I suggest you all get busy trying to understand what it's all about.

I'm undecided about this area, on the One hand it could all be a great big ponzi scam, but on the other hand, I can see why people would use the tech for many reasons.

One thing for sure, these things are only just getting started and the more govt tries to ban and control, the more they take off.

T2W needs some serious discussion threads on this topic.
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Old Nov 27, 2017, 3:53pm   #10
 
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Quote:
Originally Posted by counter_violent View Post
There are currently 1300 cryptos. The majority will fail of course, but cryptos are here to stay, so instead of just dismissing this arena out of hand, I suggest you all get busy trying to understand what it's all about.

I'm undecided about this area, on the One hand it could all be a great big ponzi scam, but on the other hand, I can see why people would use the tech for many reasons.

One thing for sure, these things are only just getting started and the more govt tries to ban and control, the more they take off.

T2W needs some serious discussion threads on this topic.
I am in tech/security in a big corporation and block chain is not used and will not be used in the next few years, because there are no real practical applications... -
Everything right now is fueled by startups building stuff for other startups and funny VC money going around like musical chairs...

Not to mention crypto currencies are completely different animal form the block chain technology... Your example is like advocating buying paper money like Mongol Dongs, because they are printed on paper and the paper is widely used...

Maybe one day we will have a real and viable market, but right now is a very manipulated place with no volume, shady players, etc... You are better off investing in a risky bio tech if you have this kind of risk calculated in your portfolio...
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Old Nov 27, 2017, 3:55pm   #11
 
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There is a small town in Devon called Totnes who had their own currency back in the 1980s. I think it is pegged at 1 local currency = 1 pound so it can't inflate in value. It's main purpose seems to be getting local people to spend locally.

Probably something different from the crypto lot. ??
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Old Nov 27, 2017, 3:58pm   #12
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Originally Posted by Quantt View Post
I am in tech/security in a big corporation and block chain is not used and will not be used in the next few years, because there are no real practical applications... -
Everything right now is fueled by startups building stuff for other startups and funny VC money going around like musical chairs...

Not to mention crypto currencies are completely different animal form the block chain technology... Your example is like advocating buying paper money like Mongol Dongs, because they are printed on paper and the paper is widely used...

Maybe one day we will have a real and viable market, but right now is a very manipulated place with no volume, shady players, etc... You are better off investing in a risky bio tech if you have this kind of risk calculated in your portfolio...
No practical applications! You have to be kidding me
How about the fact that a continuous sales ledger open to all and free from manipulation including govt and central banksters. No wonder they are all running scared, theft by inflation and worthless money printing are tools they have used since the dawn of time. If cryptos get it right, then govt's and money lenders are screwed.
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Old Nov 27, 2017, 4:05pm   #13
 
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No practical applications! You have to be kidding me
How about the fact that a continuous sales ledger open to all and free from manipulation including govt and central banksters. No wonder they are all running scared, theft by inflation and worthless money printing are tools they have used since the dawn of time. If cryptos get it right, then govt's and money lenders are screwed.
I know all the theory and have been following this of years and I am telling you right now in the corporate world there are not a single widely/daily used piece of software based on the block chain technology, not in security, systems, anywhere...

For the anti government stuff, if China bans it (and they can do it very easily with the great wall firewall), it will be the end of bitcoin...
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Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Nov 27, 2017, 4:13pm   #14
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Banning things simply fuels interest. China has already tried putting obstacles in the way. The result...doubles the price.
History is littered with examples of govt banning things. Drugs, alcohol, etc.
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Old Nov 27, 2017, 4:16pm   #15
 
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Quote:
Originally Posted by Quantt View Post
I know all the theory and have been following this of years and I am telling you right now in the corporate world there are not a single widely/daily used piece of software based on the block chain technology, not in security, systems, anywhere...

For the anti government stuff, if China bans it (and they can do it very easily with the great wall firewall), it will be the end of bitcoin...
Bitcoin might depreciate a lot without China but surely it would not collapse completely, would it ?
Perhaps it needs a billionaire or 2 to support it ?
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Old Nov 27, 2017, 4:23pm   #16
 
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Bitcoin might depreciate a lot without China but surely it would not collapse completely, would it ?
Perhaps it needs a billionaire or 2 to support it ?
What is the latest 75% percent of the miners are in China? and their role is a much bigger that just mining... You only need 51 percent of the nodes to get full control of the ledger, so China can do much more damage if they want to... right now all this is way to small for the real players/governments to care... Anonymity in the modern internet is a pipe dream... Just wait and see if real money start to flow out of China...
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My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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