This is gold or should I say bitcoin now?
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bitcoin could be worth 1c and all the good use cases would be exactly the same, they don’t rely on bitcoin having worth, other than the incentive to mine.
I see he disconnect here. I’ve never mentioned bitcoin because it’s irrelevant but some only see bitcoin. Anyway whatever, if I’m on sauce so I’m gonna stop here
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Don’t be that drunk guy at the party talking about bitcoin.
That’s why I’m stopping now lol
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Damn tulips.
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I’ve kind of held back on saying this, because I know two fifths about it, but isn’t an untraceable currency always going to be of great value to the two biggest markets in the world?
Health and electronics?
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Fine.
Yes. Health and electronics.
My guess is it plays out like the internet did.
Originally the internet was going to be a boon for anonymity and privacy. Free people of the world were going to interact with each other choosing their level of anonymity free from government influence. Fast forward 20-30 years and the complete opposite happened. The internet singlehandedly killed the right to privacy, with corporations owning millions of data points over each person and the government watching our every move.
I think cryptocurrencies will play out the same, advertised originally as anonymous transactions. With the inventors being pretty much anarchists who saw this as subverting the government. However the obvious use case is sourcing drugs and other illegal activities(which you allude to). If we fast froward 20 years to a cashless society with all transactions on a blockchain, the opposite will happen. The financial institutions and government will find a way to track and identify every transaction. So a drug dealer gets busted you can track down every individual that has prior interaction. More broadly all your transactions will be identifiable in an additional layer to that currently given by credit cards and the internet.
I’m sure the current players do’t have this goal in mind, but the big banks and security agencies aren’t interested in this tech for no reason.
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Do we have a thread for Crypto Currency in general?
Have a look at Ripple now it is flying I bought in late at 79 cents but it’s going to be the money maker of 2018.
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Late? You’ve made 80% overnight!
Got on Ripple 9 days ago and it’s doubled. Had higher hopes for IOTA and it’s done nothing. I’m thinking ICON is my next trade, but I wouldn’t take my advice on this. Complete noob.
I using CoinSpot as an exchange. 3% commission on trades seems steep, but plenty of exotics on offer. They suspended deposits saying “banks are becoming increasingly restrictive with dealing with Cryptocurrency providers”. Withdrawals and trade still ok. Any recommendations for alternatives?
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BTC Markets?
Cheers. Had a look at BTC and the variety of cryptos is somewhat limited. But the fees are better. Are you familiar with Binance? Only drawback seems to be that it’s not Australian based so can’t buy with AUD.
Personally Dill, I’d go easy on the exotic cryptos.
From what I’ve seen, there’s about 6 to bother with, and probably another 5 or so speculative ones to take a risk on.
BTCMarkets offers the only ones worth looking at IMHO.
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BTC had huge fees on ripple (0.15), IIRC. It was part of the reason why I didn’t follow through with signing up…
I use binance exchange and transfer bitcoin from coinjar or coinbase. I am staying away from majors and just hitting and hoping on an alt coin that goes up 1000 percent.
I’m just having a dabble, not putting the house on it. The exotics can and routinely do change 1000% plus in a day.
I’ve got a spread between Ripple, Etherium, Bitcoin Cash, IOTA and Litecoin at the moment. Interested in a few lesser known ones for my next trade. I think the best value lies outside those offered by BTCMarkets.
That’s pretty much my next play. Good luck!