YaTingPom wrote:Startups are getting funding from bitcoin holders. This does away with traditional funding mechanisms without due diligence. It's like Crowdfunding but with more capital. (Anyone for Lily drones?)
It's interesting you use the word "investment". Most fans of crypto (and in particular Bitcoin) go to great lengths in explaing the technology behind it (block chain), the decentralised ledger that no one owns (which begs the question why do these people certify each transaction for free?) and it's the future of currency blah blah.
They are in it to make cash profits. Most don't give a rat's arse about the "future" just as long as the price goes up!
It'll end in tears. (not necessarily because of crypto but because of the debt ridden economies)
There are a hundred different coins being traded not only Bitcoin or Ethereum. Bitcoin is straight up created to be a currency. Most of the rest are created to utilize block chain technology. Ethereum, for example, was never created to be a currency, but rather as "fuel" to execute smart contracts.
Waltonchain is created to utilize RFID technology in Chinese factories. I'm not invested enough to explain any of this well.
With a lot of tokens, people who hold large amounts of said coin are set up as Master nodes. Their job is to certify transactions via a computer in return for a small commission. The whole decentralized idea seems to mean that transactions on the block chain are verified by other users, not manually, I'd think but via their computers and code.
Bitcoin has been around for a minute now, I don't see how it will end in tears. All the other coins, some with major banks and corporations getting involved/backing. I don't think it's as easy as saying world economy/debt will bring them down. Wasn't Bitcoin created to be decentralized so any major economy won't affect it too much?
I'm on the lookout for new coins popping up. It's fun getting in early especially when you have profits from others to hedge your risks against.
I'm up 250% on my Ethereum.
Hoping waltonchain takes off.
[quote="YaTingPom"]Startups are getting funding from bitcoin holders. This does away with traditional funding mechanisms without due diligence. It's like Crowdfunding but with more capital. (Anyone for Lily drones?)
It's interesting you use the word "investment". Most fans of crypto (and in particular Bitcoin) go to great lengths in explaing the technology behind it (block chain), the decentralised ledger that no one owns (which begs the question why do these people certify each transaction for free?) and it's the future of currency blah blah.
They are in it to make cash profits. Most don't give a rat's arse about the "future" just as long as the price goes up!
It'll end in tears. (not necessarily because of crypto but because of the debt ridden economies)[/quote]
There are a hundred different coins being traded not only Bitcoin or Ethereum. Bitcoin is straight up created to be a currency. Most of the rest are created to utilize block chain technology. Ethereum, for example, was never created to be a currency, but rather as "fuel" to execute smart contracts.
Waltonchain is created to utilize RFID technology in Chinese factories. I'm not invested enough to explain any of this well.
With a lot of tokens, people who hold large amounts of said coin are set up as Master nodes. Their job is to certify transactions via a computer in return for a small commission. The whole decentralized idea seems to mean that transactions on the block chain are verified by other users, not manually, I'd think but via their computers and code.
Bitcoin has been around for a minute now, I don't see how it will end in tears. All the other coins, some with major banks and corporations getting involved/backing. I don't think it's as easy as saying world economy/debt will bring them down. Wasn't Bitcoin created to be decentralized so any major economy won't affect it too much?
I'm on the lookout for new coins popping up. It's fun getting in early especially when you have profits from others to hedge your risks against.
I'm up 250% on my Ethereum.
Hoping waltonchain takes off.
