Crypto Predictions
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@computerchip said in Crypto Predictions:
@irj said in Crypto Predictions:
@scottalanmiller said in Crypto Predictions:
@rojoloco said in Crypto Predictions:
@irj said in Crypto Predictions:
@computerchip said in Crypto Predictions:
@guyinpv said in Crypto Predictions:
My knowledge of crypto is out of date by about 10 years. I used to mine when it pretty much only BTC, then I got into LiteCoin and DoggCoin etc.
When my wallet became like a full gigabyte and I wanted a little processing power for myself, I kinda fell out of it.
Now there are 1700 crypto coins and I don't have a clue what makes one "better" or "worse" than another. They are all just blockchain right? Or wallet services? Or fancy programs and apps that surround it?
Why are there 1700 cryptocoins? What is still being discovered that makes one or another better? A cuter mascot?
How are they solving some of the inherent problems with it? For example theft or wallets being lost or stolen? Those coins are just gone forever, never to be back in the market? This seems to me like a currency with an absolute max number of coins (and ability to lose them is not uncommon), available coins will simply dwindle over time.
Is the problem of humongous wallets and processing power needed, solved? I don't want to lug around 10GB of the world's daily transactions on my computer all the time, or forget to open an app and have to wait 3 days for it to catch up with updates.
With a decentralized nature of these systems, who do you complain to about bad transactions? Is there a refund system like credit cards have chargebacks? If someone steals from you can you complain to someone and get it back? Didn't used to be able to.
Like I said, my knowledge is about 10 years old. I need a refresher and understand why so many, what are the real differences, what makes one better than another, how are wallets and security handled now?
And I'm supposed to be a nerd and I can't keep on top of this. What are the chances the general public are ever going to care to learn or use it or anything else? Why I get change back from a store, I get dimes and nickles and dollars. I don't get a choice of 82 different currency variations with all different exchange rates.
I don't see adoption happening until people can say, here, THIS one is "cryptocurrency". Try it. Not 862 variations, no doubt created by people hoping to win the lottery, take a bunch of coins early, hope it goes well so they can cash out later. I don't know.I stopped reading after you said your knowledge of crypto was 10 years outdated and when you said doggcoin.
bahaha!
Can you send me some doggcoin?
Is that Snoop's cryptocurrency?
That's wha tthey use in Bogata, Romania
Dogecoin is actually a really nice coin for small transactions. The fees are very minimal even compared to litecoin.
I was able to put the down payment on our new house last year because of an investment in Dogecoin.
But dogecoin/bitcoin is fake money....
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@irj said in Crypto Predictions:
@computerchip said in Crypto Predictions:
@irj said in Crypto Predictions:
@scottalanmiller said in Crypto Predictions:
@rojoloco said in Crypto Predictions:
@irj said in Crypto Predictions:
@computerchip said in Crypto Predictions:
@guyinpv said in Crypto Predictions:
My knowledge of crypto is out of date by about 10 years. I used to mine when it pretty much only BTC, then I got into LiteCoin and DoggCoin etc.
When my wallet became like a full gigabyte and I wanted a little processing power for myself, I kinda fell out of it.
Now there are 1700 crypto coins and I don't have a clue what makes one "better" or "worse" than another. They are all just blockchain right? Or wallet services? Or fancy programs and apps that surround it?
Why are there 1700 cryptocoins? What is still being discovered that makes one or another better? A cuter mascot?
How are they solving some of the inherent problems with it? For example theft or wallets being lost or stolen? Those coins are just gone forever, never to be back in the market? This seems to me like a currency with an absolute max number of coins (and ability to lose them is not uncommon), available coins will simply dwindle over time.
Is the problem of humongous wallets and processing power needed, solved? I don't want to lug around 10GB of the world's daily transactions on my computer all the time, or forget to open an app and have to wait 3 days for it to catch up with updates.
With a decentralized nature of these systems, who do you complain to about bad transactions? Is there a refund system like credit cards have chargebacks? If someone steals from you can you complain to someone and get it back? Didn't used to be able to.
Like I said, my knowledge is about 10 years old. I need a refresher and understand why so many, what are the real differences, what makes one better than another, how are wallets and security handled now?
And I'm supposed to be a nerd and I can't keep on top of this. What are the chances the general public are ever going to care to learn or use it or anything else? Why I get change back from a store, I get dimes and nickles and dollars. I don't get a choice of 82 different currency variations with all different exchange rates.
I don't see adoption happening until people can say, here, THIS one is "cryptocurrency". Try it. Not 862 variations, no doubt created by people hoping to win the lottery, take a bunch of coins early, hope it goes well so they can cash out later. I don't know.I stopped reading after you said your knowledge of crypto was 10 years outdated and when you said doggcoin.
bahaha!
Can you send me some doggcoin?
Is that Snoop's cryptocurrency?
That's wha tthey use in Bogata, Romania
Dogecoin is actually a really nice coin for small transactions. The fees are very minimal even compared to litecoin.
I was able to put the down payment on our new house last year because of an investment in Dogecoin.
But dogecoin/bitcoin is fake money....
TIL I used fake money to put a large down payment on a new house.
:money-mouth_face: :face_with_stuck-out_tongue_winking_eye: -
@computerchip said in Crypto Predictions:
@r3dpand4 I sent my prediction to a peer who has also been in crypto for several years, he agrees with me. Now it's been peer reviewed.
Looks like you nailed it......
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Looks like I am not the only one.
https://arstechnica.com/tech-policy/2018/02/bill-gates-says-cryptocurrencies-have-caused-deaths-in-a-fairly-direct-way/ -
The reality is that blockchain is not going away. It is going to fundamentally alter a significant number of technology driven industries. I doubt that cryptocurrencies are going to die either. They might be legislated into the shadows, but that cat is out of the bag.
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@kelly said in Crypto Predictions:
The reality is that blockchain is not going away. It is going to fundamentally alter a significant number of technology driven industries. I doubt that cryptocurrencies are going to die either. They might be legislated into the shadows, but that cat is out of the bag.
And now that Venezuela has a state-sponsored currency, that is going to push other governments to consider something similar.
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@momurda said in Crypto Predictions:
Looks like I am not the only one.
https://arstechnica.com/tech-policy/2018/02/bill-gates-says-cryptocurrencies-have-caused-deaths-in-a-fairly-direct-way/So yes, crypto is more anonymous than cash. I don't see how the death or kidnapping really plays into it? Has there been research done showing a significant increase in those directly attributed to cryptos?
What about the number of crypto related deaths vs the number of malnutrition related deaths?
I mean I really don't see the correlation.
I also don't subscribe to the notion that "because Gates said it" makes it the holy world of tech or crypto.
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@computerchip said in Crypto Predictions:
@momurda said in Crypto Predictions:
Looks like I am not the only one.
https://arstechnica.com/tech-policy/2018/02/bill-gates-says-cryptocurrencies-have-caused-deaths-in-a-fairly-direct-way/So yes, crypto is more anonymous than cash. I don't see how the death or kidnapping really plays into it? Has there been research done showing a significant increase in those directly attributed to cryptos?
What about the number of crypto related deaths vs the number of malnutrition related deaths?
I mean I really don't see the correlation.
I also don't subscribe to the notion that "because Gates said it" makes it the holy world of tech or crypto.
Exactly... briefcases full of cash have caused far more murders and deaths because they have been around longer. A briefcase full of cash used to be how you bought a shipping container full of people or paid a hitman. Far more suffering has been caused by cash payments... so I guess we should ban cash, eh?
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@momurda said in Crypto Predictions:
Looks like I am not the only one.
https://arstechnica.com/tech-policy/2018/02/bill-gates-says-cryptocurrencies-have-caused-deaths-in-a-fairly-direct-way/I dont get it. You think government is corrupt, but want more government and banker control?
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@scottalanmiller said in Crypto Predictions:
@kelly said in Crypto Predictions:
The reality is that blockchain is not going away. It is going to fundamentally alter a significant number of technology driven industries. I doubt that cryptocurrencies are going to die either. They might be legislated into the shadows, but that cat is out of the bag.
And now that Venezuela has a state-sponsored currency, that is going to push other governments to consider something similar.
Yes there are already two other countries doing this. One African country and one here in the Caribbean. Let me try to find the articles.
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@scottalanmiller said in Crypto Predictions:
@kelly said in Crypto Predictions:
The reality is that blockchain is not going away. It is going to fundamentally alter a significant number of technology driven industries. I doubt that cryptocurrencies are going to die either. They might be legislated into the shadows, but that cat is out of the bag.
And now that Venezuela has a state-sponsored currency, that is going to push other governments to consider something similar.
Oh and when bitcoin was crashing under $6k. My friend in Ecuador lost all access to exchanges and crypto related websites. The government blocked in an effort to kill bitcoin. Now they unblocked everything and are making their own currency
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http://bitcoinist.com/marshall-islands-to-issue-crypto-legal-tender-sovereign-sov-a-global-first/
“IT IS TRUE THAT THE PREVIOUS INDUSTRIAL REVOLUTIONS HAVE PASSED US BY. THIS TIME, I HOPE THE FOURTH INDUSTRIAL REVOLUTION DRIVEN BY DIGITAL TRANSFORMATION WILL NOT LEAVE AFRICA BEHIND.”
https://bitcoinwarrior.net/2018/03/kenyan-government-embraces-blockchain-technology/
@scottalanmiller that didn't take long
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@irj said in Crypto Predictions:
http://bitcoinist.com/marshall-islands-to-issue-crypto-legal-tender-sovereign-sov-a-global-first/
“IT IS TRUE THAT THE PREVIOUS INDUSTRIAL REVOLUTIONS HAVE PASSED US BY. THIS TIME, I HOPE THE FOURTH INDUSTRIAL REVOLUTION DRIVEN BY DIGITAL TRANSFORMATION WILL NOT LEAVE AFRICA BEHIND.”
https://bitcoinwarrior.net/2018/03/kenyan-government-embraces-blockchain-technology/
@scottalanmiller that didn't take long
Yeah, it's a huge opportunity for smaller governments to make big gains against the big ones. It's hard for the US or EU to get into blockchain, but easy for Kenya or Ecuador (who doesn't even have a currency of their own till this!)
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@scottalanmiller said in Crypto Predictions:
@irj said in Crypto Predictions:
http://bitcoinist.com/marshall-islands-to-issue-crypto-legal-tender-sovereign-sov-a-global-first/
“IT IS TRUE THAT THE PREVIOUS INDUSTRIAL REVOLUTIONS HAVE PASSED US BY. THIS TIME, I HOPE THE FOURTH INDUSTRIAL REVOLUTION DRIVEN BY DIGITAL TRANSFORMATION WILL NOT LEAVE AFRICA BEHIND.”
https://bitcoinwarrior.net/2018/03/kenyan-government-embraces-blockchain-technology/
@scottalanmiller that didn't take long
Yeah, it's a huge opportunity for smaller governments to make big gains against the big ones. It's hard for the US or EU to get into blockchain, but easy for Kenya or Ecuador (who doesn't even have a currency of their own till this!)
Right, and we all know first is everything in crypto... Look at bitcoin that no longer has any tech value.
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@irj said in Crypto Predictions:
https://cointelegraph.com/news/chile-adopts-blockchain-technology-for-national-energy-grid
It's snowballing now.
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@scottalanmiller said in Crypto Predictions:
I saw a middle eastern country is doing this with cars as well. Service history will be included as part of blockchain.
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Blockchain has the potential to add an unprecedented level transparency to everything. I'd love to see an application that turns the ownership of information on its head. For example I have no control over my medical records. They're not really mine. They're a medical provider's records about me. If I were able to encrypt and store my <insert type> of records where I was the one determining who had access, to what, and for how long it would be amazing. There are potential weaknesses, but no more or worse ones than we have now with companies like Equifax handing out personal and financial information willy-nilly.
