The Bubbly Bitcoin Thread -- Merged Threads

[narco]

2 minutes ago, Darby Ram said:

Those articles aren't about security concerns, they are about what happens when you try and scale using an architecture where each transaction, rather than each block, changes the state. If you can't understand that then you are buying the PR of Nano, IOTA etc rather than grokking what you are investing in: caveat emptor.

The failings, or otherwise, of Lightning Network have nothing to do with the scalability of DAG-based blockchains.  

The Nano founder has already confirmed that more nodes will be required as the network grows. However, the incentive for vendors to run nodes are be due to the cost saving made by having zero transaction fees. It's entirely scalable.

I'm not sure how IOTA plans to scale as I've no interest in the project. As for other DAGs, we'll see how things pan out. It's early days and very few people are even aware of what they are. The general public and media are fully fixated on Bitcoin's "Blockchain Technology". 

[narco]

Talking about DAG's this one is well worth following, based on the Nano and Cryptonote protocals (Monero).

No ICO, completely free distribution and has slight inflation build into the system to reward nodes and also allow the coin to function as a currency. 

https://medium.com/@crypto.thorin/why-is-the-release-of-flicker-network-the-most-amazing-thing-in-crypto-in-q2-2018-53de64f8b6b0

The marketing , branding and design isn't particularly exciting but that is fixable. 

[jiltedjen]

Im mining with Nicehash, finding that the market is so volatile on the Alts that im having to benchmark much more frequently to make sure im still mining what makes sense.

Slowly ticking up my mined Bitcoin. Even had 20% of my mined bitcoin refunded before the hack, probably get another 10% start of next month.

[Mikhail Liebenstein]

On 09/03/2018 at 12:38 PM, doahh said:

You may like Manna as well. It's another basic income coin that is already trading on one exchange. Current value is ~$0.0174 with a distribution of 15 this week and 30 the week before.

Yes, just signed up!

Again like SwiftDemand this is a really neat social experiment.  I am quite impressed with the initial valuation, yes $0.0174 isn’t a lot, but i’ve seen ERC20 Tokens issued at $0.1 drop to $0.038.

This is proper Cryto Anarchism, not Bitcoin!

Edited March 10, 2018 by Mikhail Liebenstein

[GrizzlyDave]

Could you lads recommend a simple entry to crypto. Happy to sling a few quid in. But I can only use my phone for internet access / and only occasionally - can’t sit and watch it all the time.

i was looking at DeVere Crypto?

Edited March 10, 2018 by GrizzlyDave

[goldbug9999]

1 minute ago, GrizzlyDave said:

Could you lads recommend a simple entry to crypto. Happy to sling a few quid in. But I can only use my phone for internet access / and only occasionally - can’t sit and watch it all the time.

Sign up to coinbase. 

[GrizzlyDave]

Just now, goldbug9999 said:

Sign up to coinbase. 

Is it secure?

[Mikhail Liebenstein]

I

3 minutes ago, GrizzlyDave said:

Could you lads recommend a simple entry to crypto. Happy to sling a few quid in. But I can only use my phone for internet access / and only occasionally - can’t sit and watch it all the time.

i was looking at DeVere Crypto?

I’d sign up with Cex.io . You can but Bitcoin, Bitcoin Cash, Ethereum, Stella Etc, but personally i’d go for Ripple XRP.

Yes, the so called “Crypto-Anarchists” of Bitcoin will deride that, but Bitcoin won’t exist in 5 years from now, and if it does you’ll be getting under the counter from a man selling Drugs and Trafficked children.

XRP is legit, and is used by Banks, and has lots of upside potential.

Bitcoin will likely be banned, and probably will be replaced by AML Bitcoin.

[goldbug9999]

5 minutes ago, Mikhail Liebenstein said:

Bitcoin will likely be banned

This is a whole new level of b0ll0cks even for you.

[GrizzlyDave]

XRP gets low reviews - which is why I wondered about DeVere.

but it wants my inside leg measurement before I get started...!

[Mikhail Liebenstein]

1 hour ago, GrizzlyDave said:

XRP gets low reviews - which is why I wondered about DeVere.

but it wants my inside leg measurement before I get started...!

The only reason XRP gets low reviews is because of who the reviewers are and what their vested interests are.

Basically Bitcoin was an early financial anarchy (original use of the word) experiment that was takeoven by Chinese Bitcoin interests and various criminals etc. Yes, a few smaller investors did ok, I certainly made some money, but essentially there is this huge legacy Bitcoin Infrastructure and ways of making profit that these interests want to keep so they can keep their nice little Ponzi going.

XRP is the biggest threat to Bitcoin, and so the Bitcoin lobby don’t like XRP. The say it is centralised, when actually it was, but is now architected to be moe distributed than Bitcoin. Plus it has good liquidity both in terms of trade volumes and number of coins. And unlike Bitcoin it can settle in seconds for a very low fee.

It is being adopted by Banks for cross border payment, which is why the Bitcoin lobby say they hate it, when in reality they know that XRP and its parent Company Ripple are a financial juggernaut that is going to take out both Bitcoin and the Swift Payment system.

Bitcoins value has no room to grow, it is in a Bubble and we have various whales (large holders) ready to exit by dumping huge volumes on the market. 

At the moment lots of Alts are tied to Bitcoin due to exchanges forcing users to use unwieldy Bitcoins to buy other Crypto and because of not trading in Alt-BTC pair. But this is changing and certainly Ethereum and XRP are widely available for fiat. And ultimately once XRP escapes the Gravity of BTC, it will literally rocket. It is the only coin that has any role in the $5.6Trn a day foreign exchange market.

I’ve got 8,000 XRP, and when they fully grow, I an anticipating having either 5 or 6 zeros after their worth in $.

 

 

Edited March 10, 2018 by Mikhail Liebenstein

[GrizzlyDave]

2 minutes ago, Mikhail Liebenstein said:

The only reason XRP gets low reviews is because of who the reviewers are and what their vested interests are.

Basically Bitcoin was an early financial anarchy (original use of the word) experiment that was takeover by Chinese Bitcoin interests and various criminals etc. Yes, a few smaller investors did ok, I certainly made some money, but essentially there is this huge legacy Bitcoin Infrastructure and ways of making profit that these interests want to keep so they can keep their nice little Ponzi going.

XRP is the biggest threat to Bitcoin, and so the Bitcoin lobby don’t like XRP. The say it is centralised, when actually it was, but is now architected to be moe distributed than Bitcoin. Plus it has good liquidity both in terms of trade volumes and number of coins.And unlike Bitcoin     

Thanks - I’ll take a look

[leonardratso]

why does ripple follow everything else following bitcoin value up and down then? Surely it should be independant and going its own way?

If you read the various products ripple produce for interbank and other monetary transfer, XRP is actually only an option in all of those arbitage transactions, not a necessity, surely it needs to be hyper fiat style stable to avoid fx slippage is it was to be used to go between currencies across borders. Im not saying fiat fx is hugely stable, but at least it doesnt lose 15% in 4 hours (or gain it).

[Mikhail Liebenstein]

12 minutes ago, leonardratso said:

why does ripple follow everything else following bitcoin value up and down then? Surely it should be independant and going its own way?

If you read the various products ripple produce for interbank and other monetary transfer, XRP is actually only an option in all of those arbitage transactions, not a necessity, surely it needs to be hyper fiat style stable to avoid fx slippage is it was to be used to go between currencies across borders. Im not saying fiat fx is hugely stable, but at least it doesnt lose 15% in 4 hours (or gain it).

More BTC fud.

The issue at the moment is pair trading bots. They pull all the coins together ultimately, though with some lag, all based on low liquidity on the coin exchanges.

BTC is still the biggest market, but it is unusable for real business and has very low liquidity compared with Fx. The whole Crypto market is tiny contrasted with the Fx market. 

XRP is breaking away from the Crypto exchanges and into the real world Fx market.

The whole Crypto market is only $373bn in market cap, and Daily volumes are much lower than that.

The Fx market spins a net $5.3 Trn per day, and XRP solves the biggest issue in terms of slow country to country payment.

Edited March 10, 2018 by Mikhail Liebenstein

[leonardratso]

XRP as a coin is nothing to do with ripple as a company (and its payment provider transports and products). I doubt ripple would want paying in XRP by western union for the money transfer.

[Mikhail Liebenstein]

8 minutes ago, leonardratso said:

XRP as a coin is nothing to do with ripple as a company (and its payment provider transports and products). I doubt ripple would want paying in XRP by western union for the money transfer.

XRP was created by Ripple, and although it is not mandatory, it is used by of a lot of Ripple’s clients using or testing Ripple tech such as XRapid, XCurrent and XVia. 

XRP is a bit like the telephone, if you need to communicate or trade, it helps if the person at the other end is using the same standard.

Seriously, if you missed Bitcoin at under $3 , XRP is your only possible time machine Back to 2012. BTC has peaked and will fall. It will take most of the Alts with it, perhaps the top 10 Alts (which ones may change) will flourish along with the odd Ethereum token that pays genuine dividends. But if I had to pick an Alt it would be XRP.

Edited March 10, 2018 by Mikhail Liebenstein

[leonardratso]

why does ripple not explode on news - which i admit is a lot (news wise)? surely the more instutions want it the more value the protocol/standard should have?

[narco]

47 minutes ago, Mikhail Liebenstein said:

Seriously, if you missed Bitcoin at under $3 , XRP is your only possible time machine Back to 2012. BTC has peaked and will fall. It will take most of the Alts with it, perhaps the top 10 Alts (which ones may change) will flourish along with the odd Ethereum token that pays genuine dividends. But if I had to pick an Alt it would be XRP.

There's so much ****** in this post I don't even know where to start.

XRP is centralised token in that Ripple own 60% of all XRP in existence. 

When buying XRP, you're basically hoping that it will magically fix all of the banks foreign currency payment issues.Their code is based on open source, meaning the banks can quite easily cut out the middle man and setup their own inter-bank payment system if they wish to. It is a solution looking for a problem.

This coin is by far the most over valued in the top 10 market cap. XRP was $0.005 this time last year with exactly the same fundamentals as now at $0.79.

Just ask yourself this question. Why is this coin being sold to the general public? The answer is it is a ponzi scheme setup with the sole reason to line the pockets of Ripple Corp.

For use as a day to day crypto currency it's also flawed. You have to store 50 XRP just to activate a wallet and it can't be spent. If you really love the technology behind XRP, you might as well just buy XLM. 

Edited March 10, 2018 by narco

[goldbug9999]

29 minutes ago, leonardratso said:

why does ripple not explode on news - which i admit is a lot (news wise)? surely the more instutions want it the more value the protocol/standard should have?

The protocol and the standards arn't the same thing as XRP the token. The reality is that the banks wont allow a non-inflationary non-traceable currency to be integrated into the core financial system, they cant afford the risk of capital flight. So either XRP supply and usage is transferred 100% to the banks (in which case it becomes no more useful or valuable than any other fiat currency)  or the banks will insists that a new token is created under such control.

More generally all the guff about corporate partnerships counts for nothing. The reality is that businesses in all sectors, not just banks, will not in the long term take actions that will pump up the value of *any* cypto that they dont completely own and control, so all this talk of partnerships whether its etherium or iota or ripple or ... whoever is all meaningless. This is because corporations, banks etc want services to be provided at marginal cost of provision, when these organisations see actions of theirs adding value to a crypto they will be thinking "how do we capture that ALL of that value for ourselves" (instead of it wholly or partly adding value to some token whose value increase will benefit others).

[leonardratso]

4 minutes ago, goldbug9999 said:

The protocol and the standards arn't the same thing as XRP the token. The reality is that the banks wont allow a non-inflationary non-traceable currency to be integrated into the core financial system, they cant afford the risk of capital flight. So either XRP supply and usage is transferred 100% to the banks (in which case it becomes no more useful or valuable than any other fiat currency)  or the banks will insists that a new token is created under such control.

More generally all the guff about corporate partnerships counts for nothing. The reality is that businesses in all sectors, not just banks, will not in the long term take actions that will pump up the value of *any* cypto that they dont completely own and control, so all this talk of partnerships whether its etherium or iota or ripple or ... whoever is all meaningless. This is because corporations, banks etc want services to be provided at marginal cost of provision, when these organisations see actions of theirs adding value to a crypto they will be thinking "how do we capture that ALL of that value for ourselves" (instead of it wholly or partly adding value to some token whose value increase will benefit others).

hence xrp is just shite.

[narco]

When your crypto has a CEO, a Senior Vice President and a board of directors, it definitely isn't a crypto. 

Edited March 10, 2018 by narco

[Mikhail Liebenstein]

2 hours ago, narco said:

When your crypto has a CEO, a Senior Vice President and a board of directors, it definitely isn't a crypto. 

When your Crypto is massively over inflated and will be regulated out of Existence (we’ll to $100 actually) 

https://www.marketwatch.com/story/forget-100000-bitcoin-says-kenneth-rogoff-try-100-instead-2018-03-06

If BTC is $100 and XRP is $100, or even $1000, then I can laugh.

Also there is a new wave of AML Coins coming through, AML Bitcoin being an example.

Edited March 10, 2018 by Mikhail Liebenstein

[narco]

31 minutes ago, Mikhail Liebenstein said:

When your Crypto is massively over inflated and will be regulated out of Existence (we’ll to $100 actually) 

https://www.marketwatch.com/story/forget-100000-bitcoin-says-kenneth-rogoff-try-100-instead-2018-03-06

If BTC is $100 and XRP is $100, or even $1000, the I can laugh.

Also there is a new wave of AML Coins coming through, AML Bitcoin being an example.

There's no substance to that article whatsoever. It mentions about a crackdown on ICO's which needs to happen since they're mostly scams. 

I'm surprised they've not set their crosshairs on Ripple since they are the shadiest of them all. 

Bitcoin is going to $5k, $3k and possibly $1,350 as being the cleanest of support levels. If Bitcoin hits $1,350 then XRP will be trading at around $0.03. There's actually good support at around $0.01.

As for AML coins, I can't think of a bigger fail. For digital cash, more privacy will be the solution not less. 

Edited March 10, 2018 by narco

[Mikhail Liebenstein]

28 minutes ago, narco said:

There's no substance to that article whatsoever. It mentions about a crackdown on ICO's which needs to happen since they're mostly scams. 

I'm surprised they've not set their crosshairs on Ripple since they are the shadiest of them all. 

Bitcoin is going to $5k, $3k and possibly $1,350 as being the cleanest of support levels. If Bitcoin hits $1,350 then XRP will be trading at around $0.03. There's actually good support at around $0.01.

As for AML coins, I can't think of a bigger fail. For digital cash, more privacy will be the solution not less. 

Totally disagree.

The only reason Crypto hasn't be closed down by the people with guns and an army is that there is some interesting tech.

As always this will be appropriated by the capitalist mechanism in the market and turned into a mainstream offering that is of course regulated.

XRP and various AML coins fit this bill.

[goldbug9999]

9 minutes ago, Mikhail Liebenstein said:

As always this will be appropriated by the capitalist mechanism in the market and turned into a mainstream offering that is of course regulated.

XRP and various AML coins fit this bill.

If this is actually the way the it works out, what makes you think they are going gift you mad gainz rather than simply appropriate the whole thing and keeps all profits for themselves ?.

Either way you lose - you lose if your wrong because your holding a coin that worthless in the post-banking era, you lose if your right because if TPTB attain such a high level of control over crypto, they will make sure that they and not you get rich out of it.

Edited March 10, 2018 by goldbug9999