Anyone read the latest news about bitcoin? $US 400M have been lost or stolen since it's inception lol. Approximately 45%. Someone's rich because they stole from some sucker that got pulled into this. I mean hell..400M...that's been taken from people. I hear the FBI has been tasked to track down the 400M.
As others have said, Bitcoin isn't new, this has happened before in history when new currencies come out.
Also, there's evidence out there that when Bitcoin went from $150 to $1,000, it was the work of basically one person. I would guess they setup accounts and bought the Bitcoins from themselves, increasing the price each time. You can do that when the volume is low.
Bitcoin is not backed by anyone, and there's no oversight by design. I guess if you get enough people believing it has value, then it has value, until it doesn't.
Is it possible that, instead of Nvidia being the upstanding party in this, they are asking for this just because the extra profits coming from the increased prices don't get into their pockets? Scarcity only invites the potential customers to seek elsewhere and aoce a customer moves to a different brand, if they end up being happy, it's a loss for Nvidia.
Is it possible that, instead of Nvidia being the upstanding party in this, they are asking for this just because the extra profits coming from the increased prices don't get into their pockets? Scarcity only invites the potential customers to seek elsewhere and aoce a customer moves to a different brand, if they end up being happy, it's a loss for Nvidia.
I think that certainly plays into it, but it's also something that's obviously been affecting gamers. Nvidia knows that's their core base. It makes good business sense for them to take steps to reaffirm support of that base in the face of this situation.
No, they are not. Well, most of them are, but there are some which are changing the world right now.
I have no doubt they are changing the world. I just don't believe they are changing the world in a positive way.
I'm glad that you made a handsome profit. Money is always much easier to lose than it is to make.
Not in a positive way? How many hours have you spent learning about various crypto-currencies?
There are technologies which are in real production already that allow financial institutions to make cross border remittances within several seconds comparing to 3-5 days and for friction of a penny comparing to tens of dollars using the old SWIFT based systems.
Did you, for instance, read what CFO of a Mexican company Cuallix had to say about one of these products which is utilizing crypto-currency and which the company is already using in real production? How it changed the service they are offering to their customers?
You people read about bitcoin on the news and how these cryptos are used for money-laundering and drug trading and you jump to a conclusion that all cryptos are negative for the world. There are revolutionary technologies that are already changing the world and definitely for better.
Heck even American Express is already using a blockchain based product made by a company behind one of the major cryptos. This product does not yet utilize this particular crypto, but it is already their plan to adopt the other product from their product line as a step 2 which is based on crypto-currency as it decreases their costs by additional 30 percentage points.
I didn't criticize the technology behind it, and yes I have read up on it.
On a more serious note, if you are interested in an overview of bitcoin from an unbiased source I suggest "Throwing Rocks at the Google Bus" by Douglas Rushkoff. The book is about the digital economy and the Bitcoin subject inevitably comes up, but at least it's an unbiased source since he lists pros and cons. It's at least better than listening to Bitcoin defenders whose best argument is calling critics clueless and stupid.
It's seems EVGA raised their store prices in response to the shortage as well. Recently they have been placing new stock on their site daily @ around 4pm Pacific time and are usually sold out within two hours. Not sure if this is gamers finally grabbing cards, or still miners buying up everything.
I have a bit more faith in bitcoin than the other alt coin simply because... it is the first. If it is really about the technology, there will just keep having newer alt coin with better technology. But the first crypto will always retain the value because of symbolic reason.
the bust will come when certain countries decide that bitcoin needs to be monitored and regulated.
Really? I think the bust will come when enough people finally realize that bitcoin isn't actually worth anything because it has zero economic backing from governments. The US dollar is based on an 18 trillion dollar GDP producing country and the fact it is the world's reserve currency. Bitcoin's value is based entirely on perception and as soon as that perception changes it's going straight into the toilet.
Bitcoin is basically steaming pile of bullshit and the only thing that makes it worth something now is that so many people are sniffing it and convincing themselves that they smell roses. The wake up call is going to be rather ... interesting to watch when it does finally happen.
It's funny how people trash block chain currencies by bringing up a piece of paper that is built on the same principals. All paper currency is a perception.
I'm not advocating, but it's a kinda ridiculous stance to have. It reads like someone who believes in Santa scoffing at a believer of Tooth Fairies.
"As far as the forum code of conduct, I would think it's a bit outdated and in need of a refre *CLOSED*"
the bust will come when certain countries decide that bitcoin needs to be monitored and regulated.
Really? I think the bust will come when enough people finally realize that bitcoin isn't actually worth anything because it has zero economic backing from governments. The US dollar is based on an 18 trillion dollar GDP producing country and the fact it is the world's reserve currency. Bitcoin's value is based entirely on perception and as soon as that perception changes it's going straight into the toilet.
Bitcoin is basically steaming pile of bullshit and the only thing that makes it worth something now is that so many people are sniffing it and convincing themselves that they smell roses. The wake up call is going to be rather ... interesting to watch when it does finally happen.
It's funny how people trash block chain currencies by bringing up a piece of paper that is built on the same principals. All paper currency is a perception.
I'm not advocating, but it's a kinda ridiculous stance to have. It reads like someone who believes in Santa scoffing at a believer of Tooth Fairies.
It's funny how some people think that block chain currencies that are essentially privately produced schemes based on zero economic value are in any way comparable to currencies backed by 18 trillion dollar economies that wield global economic influence. Kind of a ridiculous stance to have, but some people go there and scoff at others that point out how fucking stupid it is .... the world we live in.
You keep on bringing up what a piece of paper is backed by (perception), when the 0's and 1's are backed by the same people who are backing the piece of paper.
"As far as the forum code of conduct, I would think it's a bit outdated and in need of a refre *CLOSED*"
the bust will come when certain countries decide that bitcoin needs to be monitored and regulated.
Really? I think the bust will come when enough people finally realize that bitcoin isn't actually worth anything because it has zero economic backing from governments. The US dollar is based on an 18 trillion dollar GDP producing country and the fact it is the world's reserve currency. Bitcoin's value is based entirely on perception and as soon as that perception changes it's going straight into the toilet.
Bitcoin is basically steaming pile of bullshit and the only thing that makes it worth something now is that so many people are sniffing it and convincing themselves that they smell roses. The wake up call is going to be rather ... interesting to watch when it does finally happen.
It's funny how people trash block chain currencies by bringing up a piece of paper that is built on the same principals. All paper currency is a perception.
I'm not advocating, but it's a kinda ridiculous stance to have. It reads like someone who believes in Santa scoffing at a believer of Tooth Fairies.
There is an element of truth to that, but regular currencies are as strong as the government economy behind it. That's a huge difference. If we were using Bitcoin in 2008,, or the late nineties, who would have stepped up to stop economic disaster?
Not going to get into economics but two points.
Pre 2008 mortgage disaster was caused by the selling of subprime mortgages, bogus credit ratings and tons of palm greasing of an 18 trillion dollar GDP producing country
In a real capitalism/free market society (not the capitalism... until I need a bailout kind), economic disasters aren't meant to be "stopped" how the US did.
All I'm saying is a "regular currency" is one because somebody said so and others agreed. If people decide they don't give a damn about any currency it has no value. Just like any other commodity.
Block chain currency is happening. I'm not claiming to know which one will break through but a global currency is inevitable, Any country regulation just makes them more valuable in the dark.
I'm waiting for somebody to tell me how the USA is going to tell JP Morgan, ING, Accenture, BBVA and those of the same ilk what is allowed to have value... or what to do at all.
Meanwhile, Uncle Sam is requesting 1099-Ks for Third Party Network Transactions, and realtors for penthouses in Key Biscayne are accepting Bitcoin.
"As far as the forum code of conduct, I would think it's a bit outdated and in need of a refre *CLOSED*"
the bust will come when certain countries decide that bitcoin needs to be monitored and regulated.
Really? I think the bust will come when enough people finally realize that bitcoin isn't actually worth anything because it has zero economic backing from governments. The US dollar is based on an 18 trillion dollar GDP producing country and the fact it is the world's reserve currency. Bitcoin's value is based entirely on perception and as soon as that perception changes it's going straight into the toilet.
Bitcoin is basically steaming pile of bullshit and the only thing that makes it worth something now is that so many people are sniffing it and convincing themselves that they smell roses. The wake up call is going to be rather ... interesting to watch when it does finally happen.
It's funny how people trash block chain currencies by bringing up a piece of paper that is built on the same principals. All paper currency is a perception.
I'm not advocating, but it's a kinda ridiculous stance to have. It reads like someone who believes in Santa scoffing at a believer of Tooth Fairies.
Who backs crypto's? Speculators, thats stability you can count on.
Cryptocurrency is a speculators wet dream. Throw in a bunch of working joe's looking to get rich quick and we can kiss any kind of stability goodbye. Do you think manufacturers and the like are ever going to deal in a currency that can have a 20% sneeze?
Not gonna happen.
Taking U.S. currency as an example you have a government and over 300 million people backing it. If that ever fails do you think Cryptocurrency is going to do you any good?
I've only recently started looking into cryptocurrencies and blockchain technology but it is certainly very interesting. What I found fascinating are the uses for blockchain tech outside of cryptocurrencies, something I hadn't really considered before but can now see revolutionising a wide variety of industries.
Currently Playing: WAR RoR - Spitt rr7X Black Orc | Scrotling rr6X Squig Herder | Scabrous rr4X Shaman
Crypto-currencies make a lot of sense for a central currency. They are much more accountable and you wouldn't be able to over-leverage it. It gets around many of the banking middlemen who exchange the actual bills. There are a whole lot of inherent problems with the US dollar. It is run by the Federal Reserve. The US government borrows money from the federal reserve at interest. Its impossible for the US government to ever pay back the federal reserve as there is 1/3rd the amount of dollars in circulation as the US owes the fed. It would also grind the US economy to a halt since there is no longer currency to circulate. As a result, this has created the debt economy where it is impossible to save and payoff debts. Such a system is prone to collapse, and by the looks of it soon. The easiest way to transition out of this is for the US to create a crypto-currency that they regulate centrally. Exchange dollars for an amount of this new currency, and abolish the fed. It would immediately pay off most US debts, but create short term inflation.
To use a Crypto-currency as a currency it needs to accomplish 3 things. 1) Ease of use for the user. 2) Security of the users account. 3) Maintain value.
Comments
Also, there's evidence out there that when Bitcoin went from $150 to $1,000, it was the work of basically one person. I would guess they setup accounts and bought the Bitcoins from themselves, increasing the price each time. You can do that when the volume is low.
Bitcoin is not backed by anyone, and there's no oversight by design. I guess if you get enough people believing it has value, then it has value, until it doesn't.
I'm glad that you made a handsome profit. Money is always much easier to lose than it is to make.
"Be water my friend" - Bruce Lee
"Be water my friend" - Bruce Lee
On a more serious note, if you are interested in an overview of bitcoin from an unbiased source I suggest "Throwing Rocks at the Google Bus" by Douglas Rushkoff. The book is about the digital economy and the Bitcoin subject inevitably comes up, but at least it's an unbiased source since he lists pros and cons.
It's at least better than listening to Bitcoin defenders whose best argument is calling critics clueless and stupid.
I'm not advocating, but it's a kinda ridiculous stance to have. It reads like someone who believes in Santa scoffing at a believer of Tooth Fairies.
¯\_(ツ)_/¯
¯\_(ツ)_/¯
- Pre 2008 mortgage disaster was caused by the selling of subprime mortgages, bogus credit ratings and tons of palm greasing of an 18 trillion dollar GDP producing country
- In a real capitalism/free market society (not the capitalism... until I need a bailout kind), economic disasters aren't meant to be "stopped" how the US did.
All I'm saying is a "regular currency" is one because somebody said so and others agreed. If people decide they don't give a damn about any currency it has no value. Just like any other commodity.Block chain currency is happening. I'm not claiming to know which one will break through but a global currency is inevitable, Any country regulation just makes them more valuable in the dark.
I'm waiting for somebody to tell me how the USA is going to tell JP Morgan, ING, Accenture, BBVA and those of the same ilk what is allowed to have value... or what to do at all.
Meanwhile, Uncle Sam is requesting 1099-Ks for Third Party Network Transactions, and realtors for penthouses in Key Biscayne are accepting Bitcoin.
¯\_(ツ)_/¯
Cryptocurrency is a speculators wet dream. Throw in a bunch of working joe's looking to get rich quick and we can kiss any kind of stability goodbye. Do you think manufacturers and the like are ever going to deal in a currency that can have a 20% sneeze?
Not gonna happen.
Taking U.S. currency as an example you have a government and over 300 million people backing it. If that ever fails do you think Cryptocurrency is going to do you any good?
"Be water my friend" - Bruce Lee
A) Sell all my stock at inflated prices as fast as I can get it in
or
Hmm... I'm not sure what I'd do here. Rolling in money or being broke. Tough choice.
I've only recently started looking into cryptocurrencies and blockchain technology but it is certainly very interesting. What I found fascinating are the uses for blockchain tech outside of cryptocurrencies, something I hadn't really considered before but can now see revolutionising a wide variety of industries.
If folks are going to be ignorant just be ignorant and learn later. Don't pontificate from a position of ignorance.
¯\_(ツ)_/¯
There are a whole lot of inherent problems with the US dollar. It is run by the Federal Reserve. The US government borrows money from the federal reserve at interest. Its impossible for the US government to ever pay back the federal reserve as there is 1/3rd the amount of dollars in circulation as the US owes the fed. It would also grind the US economy to a halt since there is no longer currency to circulate. As a result, this has created the debt economy where it is impossible to save and payoff debts. Such a system is prone to collapse, and by the looks of it soon.
The easiest way to transition out of this is for the US to create a crypto-currency that they regulate centrally. Exchange dollars for an amount of this new currency, and abolish the fed. It would immediately pay off most US debts, but create short term inflation.
To use a Crypto-currency as a currency it needs to accomplish 3 things. 1) Ease of use for the user. 2) Security of the users account. 3) Maintain value.