BITCOIN as an alternative to regular currency

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Euler
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That previous article I posted showed a lot of the wealth is concentrated in only a small group, so entirely possible I would think. A lack of sellers on the way up probably magnifies it.
RicHep365
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Euler wrote:
Tue Jan 16, 2018 8:08 am
That previous article I posted showed a lot of the wealth is concentrated in only a small group, so entirely possible I would think. A lack of sellers on the way up probably magnifies it.
The whole crypto market is getting smashed today, it's funny reading the comments of the people that have put all their eggs in the crypto basket thinking it could only go one way!
dragontrades
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flushing the dumb money out of the market that has flooded into sh*t coins.
I love cryptos but it has become full of people trying make money out of gullible people with ponzis and systems and free money.
I am buying up litecoin during this drop.
It has long term legs
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Euler
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When the speculative money finally falls out of the system we may be able to see the wood for the trees.
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ShaunWhite
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Euler wrote:
Tue Jan 16, 2018 2:16 pm
When the speculative money finally falls out of the system we may be able to see the wood for the trees.
And until that day they will be known as Schrödinger's Coins.
Zenyatta
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hype_cycle.jpg
Yes, I do think we've finally entered the 'blow-off' phase of the hype cycle, and as I was saying earlier in the thread...we're just moving out of the 'bull trap' and the crash is proceeding (see attached 'hype cycle' graph again).

Precipitous decline today, with bitcoin down below $11K now on the back of bad news about increased crypto-currency regulation in Asia. I'm guessing it won't level off until we reach the cost of mining ($1K - $2K). Other coins simply following Bitcoin price and declining as well.
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Orixian
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Zenyatta wrote:
Wed Jan 17, 2018 4:44 am
hype_cycle.jpgYes, I do think we've finally entered the 'blow-off' phase of the hype cycle, and as I was saying earlier in the thread...we're just moving out of the 'bull trap' and the crash is proceeding (see attached 'hype cycle' graph again).

Precipitous decline today, with bitcoin down below $11K now on the back of bad news about increased crypto-currency regulation in Asia. I'm guessing it won't level off until we reach the cost of mining ($1K - $2K). Other coins simply following Bitcoin price and declining as well.

Whilst the death of bitcoin would be horrific for the price of all other coins in the short term It would almost certainly be good in the long term. Bitcoin is a failure as a project now, its failure to solve the scaling problem even though its core team have know about it since day one has left it utterly useless as a currency and I question why its a better store of value than other currencies with demonstrable utility. Other coins deserve a lot more attention and should get them in due time. Also other coins will be much more likely to get on with regulators. Ethereum is very compliant and is essentially ruled by a governing body.
mcfc1981
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Would have thought Crypto is here to stay.......in what form who knows
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northbound
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mcfc1981 wrote:
Wed Jan 17, 2018 2:08 pm
Would have thought Crypto is here to stay.......in what form who knows
Agree.

My guess is that the next phase will reward platforms that embrace regulations and compliance.

THE OLD - BANKS. They hold and custody our assets for us. That money is ours, but technically a government can shut banks for a few days and steal some of that money (Cyprus 2013).

THE NEW - UNREGULATED BLOCKCHAIN. You hold and custody your assets yourself (bitcoin, tokens, etc). However, banks and governments make it increasingly difficult to withdraw bitcoin to cash.

POSSIBLE FUTURE SCENARIO - REGULATED HYBRID. Think a blockchain where you have full control of your assets (bitcoin, tokens, stocks, etc). A financial company lets you link and verify your blockchain address through proper KYC/AML checks. Now you can trade fiat, cryptocurrencies, stocks, without limits, following regulations and without giving banks/governments the ability of stealing those assets from you.

Ethos are building something like that and I feel it has great potential.
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Euler
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Guarantee you people are anchored to their purchase price of crypo's so when that is breached new selling will set it.
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Euler
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‘Seriously don’t buy these tokens,’ say the creators of a new cryptocurrency—but investors are taking no notice of the warning

https://www.wsj.com/articles/beware-eve ... 3?mod=e2tw

Wait… is this a joke? Is it a scam?

Neither! This is real—and it's 100% transparent. You're literally giving your money to someone on the internet and getting completely useless tokens in return.

https://uetoken.com/
dragontrades
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OK im calling bottom on this and going in big on ltc and btc and take half out at when btc is 13k
spreadbetting
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I'd wait for it to start climbing before calling it the bottom, it's not going to go shooting up straight away so you'd miss very little profit. I imagine it'll be a gradual build up whilst people regain the confidence to invest.
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Orixian
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I wouldn't be calling bottom, we are seeing double digit red across the whole board again today. China and Korea have yet to act on their very real threats too so that has yet to come. Despite the sell off it may not be priced in by the market.
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Orixian
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Euler wrote:
Wed Jan 17, 2018 4:38 pm
‘Seriously don’t buy these tokens,’ say the creators of a new cryptocurrency—but investors are taking no notice of the warning

https://www.wsj.com/articles/beware-eve ... 3?mod=e2tw

Wait… is this a joke? Is it a scam?

Neither! This is real—and it's 100% transparent. You're literally giving your money to someone on the internet and getting completely useless tokens in return.

https://uetoken.com/
Yup seen this the other day its brilliant. What made it even better was it rose significantly in value.

https://coinmarketcap.com/currencies/us ... eum-token/
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