Bitcoin Thread

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biometrics said:
Not going to be a currency but rather an asset/share is my guess.
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Yes, which it is a digital currency. It is only a currency in the crypto space, the whole transaction, validation, blah blah blah. I don't think many 'investors' know what cryptography is...
 
biometrics said:
+1

Must be the thing that triggered me. ;) :twisted:
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https://www.ccn.com/sec-cftc-chairm...senate-hearing-on-cryptocurrency-regulations/

Chairman Giancarlo, meanwhile, won the hearts of Bitcoin enthusiasts with several comments that appeared to be hat tips to the community. First, he made what is almost certainly the first use of the word “hodl” during a Congressional hearing. Then, toward the end of the hearing, he contradicted the common misconception that Bitcoin is riding the coattails of blockchain technology.

[video=youtube_share;HSPywOS9DWU]https://youtu.be/HSPywOS9DWU[/video]
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biometrics said:
+1

Must be the thing that triggered me. ;) :twisted:
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Crypto is big with millennials - like so much of the internet. I suspect we're going to see crypto millionaires and billionaires in their 20s and 30s when we're about to retire or go into homes.
 
biometrics said:
Not going to be a currency but rather an asset/share is my guess.
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Crypto will be a heck of a lot more than currency but I reckon it absolutely will be currency. It'll be ID, currency, governance, recordkeeping, data storage, etc... and I use the term Crypto generally to cover the tokens and the networks they run on. Most progressive governments are jumping on the bandwagon...

https://cryptoinsider.com/content/dubai-worlds-first-blockchain-government/index.html
https://venturebeat.com/2017/12/19/...lled-estcoin-in-bid-to-become-global-ico-hub/
https://id2020.org/
https://medium.com/the-mission/countries-approving-cryptocurrencies-b5bbca1a5a03
https://www.coindesk.com/2018-year-central-banks-begin-buying-cryptocurrency/

Re that last article:
Eugene Etsebeth is a former central banker with the South African Reserve Bank. There, he notably chaired the virtual currency and distributed ledger working group.
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manicminer said:
Crypto will be a heck of a lot more than currency but I reckon it absolutely will be currency. It'll be ID, currency, governance, recordkeeping, data storage, etc... and I use the term Crypto generally to cover the tokens and the networks they run on.
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It is a commodity, it will be regulated as an asset. Well, to quote Wiki,

https://en.wikipedia.org/wiki/Cryptocurrency

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are a form of digital currencies, alternative currencies and virtual currencies. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger.
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There is cryptocurrency and then there is the blockchain. Tokens is an investment contract, aka smart contract in very limited layman terms.
 
Those who have read anything on the Senate hearing, these are the words that may inspire wider adoption,

“It’s important to remember that if there was no Bitcoin, there would be no blockchain.”
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because it is widely acknowledged that blockchain technology is going places, associating Bitcoin as essential to it will encourage cryptocurrency adoption.
 
Fulcrum29 said:
Those who have read anything on the Senate hearing, these are the words that may inspire wider adoption,



because it is widely acknowledged that blockchain technology is going places, associating Bitcoin as essential to it will encourage cryptocurrency adoption.
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Its why that parasite ver wants the name
 
Sheesh dailies looking good, last time we saw that green volume was mid september:)
 
For those who are interested, especially those with interest in blockchain development, here is the latest Blockchain Technology Overview document by NIST.

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf (PDF)

Interestingly, though they cover some 'core' cryptocurrencies, they don't cover enhanced privacy cryptocurrencies like Zcash. No elaboration on Zerocoin protocol, zk-SNARKs, shielded addresses, atomic swaps, replay protection, etc. and other upcoming technologies like HushList (which admittedly still is unknown and in pre-release).
 
Dan C said:
WTF is ETH so closely following BTC ?
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Because they both have the same underlying value which is fokol, and they're both driven purely by greedy sentiment
 
Dan C said:
WTF is ETH so closely following BTC ?
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It's because on most exchanges you can only buy/sell ETH with BTC. So the price vs BTC stays relatively constant and it thus looks like the dollar ETH price is moving in line with BTC dollar price movements.
 
Sinbad said:
Because they both have the same underlying value which is fokol, and they're both driven purely by greedy sentiment
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All the other alts also have fokol value, but because people think they do habe value, or rather because a slight growth meeans a quick profit, BTC has a purpose. You need BTC to buy most alts. Grow that and cash out to BTC. Rinse repeat.
 
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