Crypto Currency

[rataylor22]

This song best describes Bitcoin

https://www.youtube.com/watch?v=1lWJXDG2i0A

Lol. Wut? That’s really not accurate at all.

[StuntMan12]

Lol. Wut? That?s really not accurate at all.

WELL, in the last week it went from about 19k to 13.5k. Currently at $14,008.11. It's just fun watching it go up and down, if I put any money into it (which I decided not to) I would be going nuts all day lol. At the same token, it has went from 8k to 14k in the past month, so overall it must be doing fine.

[rataylor22]

If you’re putting any emotion at all into its daily swings, it’s probably not for you.

[dooley89]

How is everyone doing!?

Holding I hope

[chuckcouples]

As I said earlier, people look at crypto as a stock/commodity instead of evaluating the technology and the problem it solves behind the coin. That?s the main source of confusion and false value in all of this.

Here's my question for all of you fans of crypto currency and block chain:

What problem is the block chain technology going to solve?

ie: What use is there where this technology is better than what is already being used?

[audiopile]

Here's my question for all of you fans of crypto currency and block chain:

What problem is the block chain technology going to solve?

ie: What use is there where this technology is better than what is already being used?

Blockchain is inherently transparent so whomever adopts the technology will have all of their financial data available for scrutiny. Also the concept of blockchain can be applied to all transactions for example your cars entire history including all fill ups etc. Or any product you buy. Produce in the grocery store will can be scanned by a QR code and you will know what date it was picked and what it was treated with. Open source data. It’s bigger and more important than crypto if you ask me but i’m not sure there’s too much money in it.

Crypto is undermining itself with all of these upstart coins. When there are no more coins to pump and dump things could get ugly. And it still relys on a reference to paper currency to assess its value. I have a few small investments but I’m not chasing that junk.

[fantasyhockeygeek]

It's really important to separate the concept of blockchain from cryptocurrencies.

Blockchain is a distributed ledger. It relies on transparency and breaking the ledger into lots of little parts in order to achieve trust. In the past, ledgers have been trusted due to reputation and track record. Well execute blockchain has the ability to revolutionize the world's market-making services that use ledgers to connect counterparties in trade. (banks, brokers, clearing houses, etc etc).

[bergman]

Here's my question for all of you fans of crypto currency and block chain:

What problem is the block chain technology going to solve?

ie: What use is there where this technology is better than what is already being used?

This example, while factual, comes from the book The Age of Cryptocurrency by Paul Vigna and Michael J. Casey. I would definitely recommend this book, as these guys are journalists at the Wall Street Journal and know a thing or two about economies, currencies, and the history and broader social use-cases of cryptocurrencies. It's about understanding the technology and its applications rather than getting rich quick.

Anyway, they talk about what many believe was the cause of the first crypto-boom around 2013-14 seen in the price of bitcoin. A bank in Cyprus had been flooded in cash from Russian investors, so they invested this cash in Greek government bonds. The European authorities had decided that the investors in these bonds would have to be on the hook for the government's losses in part, just like the taxpayers of the rest of the Euro zone. So, this bank in Cyprus was screwed. The authorities there decided the bank would confiscate 10% of its deposits as part of a bail-out. This scenario apparently caused a lot of concern because if this could be done here, it could in theory be done anywhere. Except with bitcoin. Hence the first major boom. The blockchain removes the ability of a central authority, by removing the central authority altogether, from controlling and/or mishandling your stored value under their responsibility. Another example would be Venezuela right now. There is a lack of trust in the government and a ton of inflation. A blockchain and its encrypted algorithms cannot really breach your trust, at least in theory. So that is where the inherent value proposition lies. Right now the prices are far too volatile to really offer a good store of value. Some feel that as cryptocurrencies become more mainstream, the liquidity will stabilize the price and turn them into actual currencies. But it's interesting, with nobody selling and everybody wanting to buy right now, bitcoin transactions for the purpose of purchasing goods are actually on the decline.

[audiopile]

So news to day has dusty old Kodak getting on the blockchain. They will have a website where photographers can post their work and then use blockchain tech to rightly pay them for their product. This is a great example of blockchain "fixing a problem". Sadly its all tied to cryptocraze for the time being however the technology should transfer easily to all copyrighted material in the future. Banks will eventually adopt.

https://www.cnbc.com/2018/01/09/koda...sing-site.html

"KodakOne not only allows photographers to license their work and get paid more quickly, it will search the internet for unauthorized use of images, the company said. Kodak CEO Jeff Clarke said in a statement: "Kodak has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that." "

[Mr. Guru]

An absolutely crazy couple weeks for the crypto world. Alt coins doing insane things.

3x your investment in a weeks is not unheard of.

I've parlayed my BitCoin earnings into "ICO" projects and it's been working out quite nicely.

I definitely have more capital in "ALT" or "ICOs" than in Bitcoin right now and they are all performing fantastic.

[dooley89]

An absolutely crazy couple weeks for the crypto world. Alt coins doing insane things.

3x your investment in a weeks is not unheard of.

I've parlayed my BitCoin earnings into "ICO" projects and it's been working out quite nicely.

I definitely have more capital in "ALT" or "ICOs" than in Bitcoin right now and they are all performing fantastic.

Fantastic compared to a month ago but not compared to a week ago haha (at least for some of the ALT coins I am in).
The great news is I bought a month ago so still seeing 650% gains lol

[LawMan]

So news to day has dusty old Kodak getting on the blockchain. They will have a website where photographers can post their work and then use blockchain tech to rightly pay them for their product. This is a great example of blockchain "fixing a problem". Sadly its all tied to cryptocraze for the time being however the technology should transfer easily to all copyrighted material in the future. Banks will eventually adopt.

https://www.cnbc.com/2018/01/09/koda...sing-site.html

"KodakOne not only allows photographers to license their work and get paid more quickly, it will search the internet for unauthorized use of images, the company said. Kodak CEO Jeff Clarke said in a statement: "Kodak has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that." "

Sounds like a smart idea for a camera company to create a way for photographers to get paid for their IP, and search for unauthorised use of IP; however I don't really understand how having their own cryptocurrency is going to make that mission easier. If a photographer takes a picture and licenses it and a would be licensee comes along and wants to use it, the licensee is willing to pay but instead of pulling out a credit card, bank account, or even a current crypto the licensee now has to setup an account or do whatever to acquire KodakCoin, just so it can transfer that coin for the photo?

Seems like that is adding a step to the process and many one-time or infrequent licensees would prefer just to use an existing method of payment. Maybe I'm missing something.

[Prideaux]

Sounds like a smart idea for a camera company to create a way for photographers to get paid for their IP, and search for unauthorised use of IP; however I don't really understand how having their own cryptocurrency is going to make that mission easier. If a photographer takes a picture and licenses it and a would be licensee comes along and wants to use it, the licensee is willing to pay but instead of pulling out a credit card, bank account, or even a current crypto the licensee now has to setup an account or do whatever to acquire KodakCoin, just so it can transfer that coin for the photo?

Seems like that is adding a step to the process and many one-time or infrequent licensees would prefer just to use an existing method of payment. Maybe I'm missing something.

Are you deliberately getting out of Bitcoin in general or are ALT and ICOs just doing better at the moment, Mr. Guru?

[audiopile]

Sounds like a smart idea for a camera company to create a way for photographers to get paid for their IP, and search for unauthorised use of IP; however I don't really understand how having their own cryptocurrency is going to make that mission easier. If a photographer takes a picture and licenses it and a would be licensee comes along and wants to use it, the licensee is willing to pay but instead of pulling out a credit card, bank account, or even a current crypto the licensee now has to setup an account or do whatever to acquire KodakCoin, just so it can transfer that coin for the photo?

Seems like that is adding a step to the process and many one-time or infrequent licensees would prefer just to use an existing method of payment. Maybe I'm missing something.

You are not missing anything. Maybe someone with a little deeper understanding can correct me here but the Kodakcoin in this case is simply a tool that the company would use to transfer the funds between the two parties accounts directly. Say from YEN to EUROS without the need for exchange rates and bank transactions.

At this point in time I can buy a bitcoin with dollars and take it out in EUROS and don't need to go to a bank, so I would think this is a similar concept.

[LawMan]

You are not missing anything. Maybe someone with a little deeper understanding can correct me here but the Kodakcoin in this case is simply a tool that the company would use to transfer the funds between the two parties accounts directly. Say from YEN to EUROS without the need for exchange rates and bank transactions.

At this point in time I can buy a bitcoin with dollars and take it out in EUROS and don't need to go to a bank, so I would think this is a similar concept.

But aren't there still transaction costs to get from Kodakcoin to a currency the photographer can use in day-to-day life? Further, given the massive instability of these crypto currencies isn't your run of the mill photographer going to be paid wildly different amounts (in their native currency) depending on the day (or hour) in which they get paid?