Blockchain Tech and Cryptocurrencies

[AnonymousDeac]

I mean, it's not like gold is valued for its utility though

I'd argue first that yes, it does. People are buying gold watches and jewelry not as an investment, but because it looks very nice. That has utility value.

Second, the value of gold has been accepted for hundreds of years. Far less likely for everyone to decide in a day that gold is now worthless. That'd be very easy for Bitcoin.

[2&2 Slider To Leyritz]

I've had this mentality since the early $100's as well. I was exposed to BitCoin back in 2010/2011, and I thought it was neat that Silk Road had a way to seriously monetize their transactions.

Since "cryptocurrencies" have become more mainstream, and my investor friends have been keen on getting in - I've remained out. The stock market is volatile enough for me - betting on crytpocurreny at this stage in the game seems way less like blackjack and way more like slots. Neither of which I use as an investment strategy.

It sucks to miss out on all the #hugegainz, but it is just way outside my risk tolerance.

I view it as part of a diversified portfolio. Stock market, real estate, closely held businesses, cryptocurrency ... more risky than some but with much more upside. Plus, i lose $10k in my 401K and don't even blink, if I lose $10k in bitcoin it will suck, but it comes with much higher upside.

[buckets]

You gotta pay to play!

[2&2 Slider To Leyritz]

BTC has settled in at about $10,500 after this week's flurry of activity. I've noticed the commentary about it is hitting the mainstream media, which can't hurt. To Nonny's point above about there being minimal value to the coin itself, the media attention may cause some companies who want to appear to be cutting edge to start accepting it. Starbucks is the only major retailer I know of that accepts it, but if the media attention could push Walmart or Amazon to accept it, that would be huge.

[DistrictDeacon]

$10k must buy you a lot of lattes.

[Liquid Karma]

$10k must buy you a lot of lattes.

Like 4 venti, and a cake pop.

[Grabs Turds Bare]

BTC has settled in at about $10,500 after this week's flurry of activity. I've noticed the commentary about it is hitting the mainstream media, which can't hurt. To Nonny's point above about there being minimal value to the coin itself, the media attention may cause some companies who want to appear to be cutting edge to start accepting it. Starbucks is the only major retailer I know of that accepts it, but if the media attention could push Walmart or Amazon to accept it, that would be huge.

Legally, I think BitCoin has to tread a very fine line there. It would mean the death of BitCoin if it lost its IRS classification as "property." If it crosses the boundary into "legal tender" or "currency," then I don't see it surviving long-term.

[ImTheCaptain]

inevitable as it becomes increasingly used as tender

[AnonymousDeac]

Legally, I think BitCoin has to tread a very fine line there. It would mean the death of BitCoin if it lost its IRS classification as "property." If it crosses the boundary into "legal tender" or "currency," then I don't see it surviving long-term.

Not quite following you here.

I had always thought the best thing for bitcoin would be for it to be ruled as currency.

[buckets]

bitcoin getting added to public exchanges

here come the derivatives!

[Screamindemon3]

Did y'all see the guys using Bittrex trading on margin lose their entire portfolios yesterday? Good read on reddit

[leftcoastdeac]

Did y'all see the guys using Bittrex trading on margin lose their entire portfolios yesterday? Good read on reddit

link?

[Screamindemon3]

link?

Just kidding it was Bitfinex

https://www.reddit.com/r/bitfinex/

[2&2 Slider To Leyritz]

Bitcoin back up over $11k over the weekend.

[Screamindemon3]

IOTA over 2.50, it was 1.07 when we discussed last week

[YoungBuck95]

SD3 with the good call. Best place to keep it? Is it okay to store it on Binance? I do not have a hardware wallet

[Screamindemon3]

SD3 with the good call. Best place to keep it? Is it okay to store it on Binance? I do not have a hardware wallet

I would wait for their new wallet due out in the next few weeks, hold on Binance with 2 factor auth enabled until then. Much more risk in losing the IOTA during the transfer to their current wallet. It's terrible, and to be honest, I think the price will double as soon as the new wallet is released, the current one is holding the coin back that much.

IOTA also being added to Bittrex in their next release, per the source code. Only going to help with the price there. Coinbase next?

[Manifest Destiny]

If yall are looking for smaller coins with big risk/reward, id go with Obsidian (ODN). Its an anonymous messaging platform that is popped a bit recently due to a rebrand. A couple of guys I trust the most in crypto have been in on it for a while. $15 million market cap that should easily be $150m. Id wait for it to come down a bit and get in. Very bullish.

[AnonymousDeac]

The BitConnect scam exposed: https://steemit.com/scam/@thegrinder...t-scam-exposed

[Screamindemon3]

The BitConnect scam exposed: https://steemit.com/scam/@thegrinder...t-scam-exposed

Nice post. After 5 minutes of research I decided I wasn’t going to touch anything close to that. Props to whoever on here was making that cash though. Hope you get out in time*

*article was written 7 months ago so obviously someone is making money