Cryptocurrency

[Kypdurron]

Hey guys,

It's been a crazy week in the crypto-verse.

First thing to address is Ripple, if it is under $1 it is a great buy if it is over you are going to have a difficult time making a good ROI. The reason for this is they have 54 Billion coins they are holding in a vault and have contracts setup to release these back into the market at set intervals. This will cause prices to stay down and prevent seeing a truly good ROI until all those coins are back in the market. Remember also that this is the banks version of a crypto currency, it isn't decentralized and still has transaction fees. Other coins do the same thing, are decentralized, have their total coin supply in market and are transaction fee free!
https://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrency/

Korea - This will be interesting to see how this shakes out. One dept of the government released a statement that they were working on a bill to shut down all exchanges. There has been a huge push back from the citizens, which makes sense this is arguably the most technologically advanced nation. They have the highest transaction exchanges that exist. I would expect Korea to continue to back-peddal the announcement and end up only issuing "guidance"
https://www.cnbc.com/2018/01/11/south-korea-cryptocurrency-justice-ministry-softened-stance.html

Verge - A newer player on the market with a similar focus to Monero on privacy. They have an interesting use of Tor networks as an added layer of security. They have the Wraith protocol going live. This is one to watch

Tron - This has been getting a lot of attention in a bad way. It appears that 90% of their white paper was plagiarized. Big name crypto investors have been warning against buying into this coin, even the head of litecoin called them out on twitter for plagiarism. Tron devs claim that because they are Chinese that the White paper didn't translate well and that is why it appears to be a copy and paste white paper.

As always only put what are you willing to lose in and do your research. Don't just buy in because everyone else is. If you can't explain what the blockchain for a coin does or why it's unique you probably shouldn't buy it.

Let me know if you guys have any questions.

 

[LincolnWay187]

Hey guys,

It's been a crazy week in the crypto-verse.

First thing to address is Ripple, if it is under $1 it is a great buy if it is over you are going to have a difficult time making a good ROI. The reason for this is they have 54 Billion coins they are holding in a vault and have contracts setup to release these back into the market at set intervals. This will cause prices to stay down and prevent seeing a truly good ROI until all those coins are back in the market. Remember also that this is the banks version of a crypto currency, it isn't decentralized and still has transaction fees. Other coins do the same thing, are decentralized, have their total coin supply in market and are transaction fee free!
https://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrency/

Korea - This will be interesting to see how this shakes out. One dept of the government released a statement that they were working on a bill to shut down all exchanges. There has been a huge push back from the citizens, which makes sense this is arguably the most technologically advanced nation. They have the highest transaction exchanges that exist. I would expect Korea to continue to back-peddal the announcement and end up only issuing "guidance"
https://www.cnbc.com/2018/01/11/south-korea-cryptocurrency-justice-ministry-softened-stance.html

Verge - A newer player on the market with a similar focus to Monero on privacy. They have an interesting use of Tor networks as an added layer of security. They have the Wraith protocol going live. This is one to watch

Tron - This has been getting a lot of attention in a bad way. It appears that 90% of their white paper was plagiarized. Big name crypto investors have been warning against buying into this coin, even the head of litecoin called them out on twitter for plagiarism. Tron devs claim that because they are Chinese that the White paper didn't translate well and that is why it appears to be a copy and paste white paper.

As always only put what are you willing to lose in and do your research. Don't just buy in because everyone else is. If you can't explain what the blockchain for a coin does or why it's unique you probably shouldn't buy it.

Let me know if you guys have any questions.

Ha! If they are Chinese that would make me think they ripped it off even more. That country is rife with academic dishonesty and copyright infringement

 

[LincolnWay187]

Has anyone heard about quantum computing? Apparently it can break current encryption like gangbusters which could be a threat to cryto

 

[Playboi Carti]

I would definitely stay away from tron and verge. I recently invested in simple token (OST) . It’s pretty new and has a ton of room to grow.

 

[Playboi Carti]

Bitcoin isn't doing well, it looks like it could dip below $10,000.

 

[Doc]

Bitcoin isn't doing well, it looks like it could dip below $10,000.

Apparently based on fears of governments cracking down on it which is strange because that's always been an elephant in the room.

 

[Cyclonepride]

Apparently based on fears of governments cracking down on it which is strange because that's always been an elephant in the room.

I think it's been viewed as a pest. The more popular it becomes, the more it becomes a threat to the existing order.

 

[Cyclone.TV]

Buy the dip!

 

[RonBurgundy]

I think it's been viewed as a pest. The more popular it becomes, the more it becomes a threat to the existing order.

That is the main problem with all of this. If they are used to avoid taxes, just inviting the government to eventually regulate them out of existence.

 

[Playboi Carti]

Apparently based on fears of governments cracking down on it which is strange because that's always been an elephant in the room.

Of course, literally all of the top cryptocurrnecies are down +20%.

Edit: Apparently China is going to block domestic internet users accessing international bitcoin exchanges
https://techcrunch.com/2018/01/16/bitcoin-crypto-crashed-hard-part-deux/

 

[deadeyededric]

Buy the dip if you have the cash. My portfolio is currently trashed. We need a recovery!

 

[Mtowncyclone13]

I'm approaching this comment like an average everyday American. I may get details wrong, I may have some backstory incorrect, but I think this is how the general American public perceives cryptocurrencies:

What is the intrinsic value of the cryptocurrency? Who is backing it? I may not agree with the government, or think they are completely stable, but you know the government is backing fiat currency. With all the hacking and questionable computer activities in the last 20 years, why should I put my livelihood into a system that I do not understand nor have any ability to shape? It is not like other advanced technology where there is a true tangible benefit to me as a consumer. What is the benefit to me as an average consumer for cryptocurrency?

 

[Rabbuk]

I'm approaching this comment like an average everyday American. I may get details wrong, I may have some backstory incorrect, but I think this is how the general American public perceives cryptocurrencies:

What is the intrinsic value of the cryptocurrency? Who is backing it? I may not agree with the government, or think they are completely stable, but you know the government is backing fiat currency. With all the hacking and questionable computer activities in the last 20 years, why should I put my livelihood into a system that I do not understand nor have any ability to shape? It is not like other advanced technology where there is a true tangible benefit to me as a consumer. What is the benefit to me as an average consumer for cryptocurrency?

I would say the average american who is getting into cryptocurrency treats them more like a scratch-off ticket than an investment/currency.

 

[Playboi Carti]

I'm approaching this comment like an average everyday American. I may get details wrong, I may have some backstory incorrect, but I think this is how the general American public perceives cryptocurrencies:

What is the intrinsic value of the cryptocurrency? Who is backing it? I may not agree with the government, or think they are completely stable, but you know the government is backing fiat currency. With all the hacking and questionable computer activities in the last 20 years, why should I put my livelihood into a system that I do not understand nor have any ability to shape? It is not like other advanced technology where there is a true tangible benefit to me as a consumer. What is the benefit to me as an average consumer for cryptocurrency?

Investments and supporting future technologies is my main reasoning. It's actually really cool what some of these companies are doing.

 

[deadeyededric]

I'm approaching this comment like an average everyday American. I may get details wrong, I may have some backstory incorrect, but I think this is how the general American public perceives cryptocurrencies:

What is the intrinsic value of the cryptocurrency? Who is backing it? I may not agree with the government, or think they are completely stable, but you know the government is backing fiat currency. With all the hacking and questionable computer activities in the last 20 years, why should I put my livelihood into a system that I do not understand nor have any ability to shape? It is not like other advanced technology where there is a true tangible benefit to me as a consumer. What is the benefit to me as an average consumer for cryptocurrency?

Everybody has a different reason for being invested in it. I look at it more like going to the casino. Some are tech people who truly believe in the technologies. Some are anti-government types who think this will be the currency of the future. Some are a mix of all three.

 

[LincolnWay187]

I'm approaching this comment like an average everyday American. I may get details wrong, I may have some backstory incorrect, but I think this is how the general American public perceives cryptocurrencies:

What is the intrinsic value of the cryptocurrency? Who is backing it? I may not agree with the government, or think they are completely stable, but you know the government is backing fiat currency. With all the hacking and questionable computer activities in the last 20 years, why should I put my livelihood into a system that I do not understand nor have any ability to shape? It is not like other advanced technology where there is a true tangible benefit to me as a consumer. What is the benefit to me as an average consumer for cryptocurrency?

Not pretending to be an expert but I believe Etherium allows for transactions with conditions which potentially removes middlemen in certain transactions driving trans. costs down. There is a tangible benefit there. BTC and some of the other coin type don't have this however. Disclosure etherium is the only crypto I own

 

[Cyclone.TV]

I took the opportunity to get a little LTC and ETH in the dip. Diversify a bit more than I had.

If trends continue, there are usually downward spikes to start the years and then up throughout rest of year. Obviously regulation and banks banning transfers could change things, but that’s always been the case.

 

[deadeyededric]

I took the opportunity to get a little LTC and ETH in the dip. Diversify a bit more than I had.

If trends continue, there are usually downward spikes to start the years and then up throughout rest of year. Obviously regulation and banks banning transfers could change things, but that’s always been the case.

I wonder how soon it will be before ICO's are banned? Will that be better for us?

 

[Playboi Carti]

I took the opportunity to get a little LTC and ETH in the dip. Diversify a bit more than I had.

If trends continue, there are usually downward spikes to start the years and then up throughout rest of year. Obviously regulation and banks banning transfers could change things, but that’s always been the case.

I picked up some Dash today, ever since I've been into crypto dash has been over $1000.

 

[Cyclone.TV]

I wonder how soon it will be before ICO's are banned? Will that be better for us?

Hmm started to rethink this. It’s down another 10%! Whoa.