Crypto Cryptocurrencies.

Discussion in 'Other Asset Classes' started by Steven Ryan, 18th Jun, 2015.

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  1. Steven Ryan

    Steven Ryan Well-Known Member

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    I guess theres 3 parts to this post.

    1. Do you know what they are?
    2. Have you invested in any?
    3. What are your thoughts?

    I have small holdings of bitcoin and litecoin. I accept that at this stage, being so early, cryptocurrencies are incredibly volatile and I'm comfortable with a complete loss, should it occur.

    However, I also see a potentially VERY bright future. Perhaps not from this first generation of cryptocurrencies, but certainly with future iterations.

    I think this is one of the most disruptive technologies to appear in the last century. Cryptocurrencies are to money as the internet was to communication.

    The third world is where I see the most potential up-side over the next 5-10 years. Time will tell.

    Until then, my seat belt is on and I'm enjoying the bumpy ride.
     
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  2. Orion

    Orion Well-Known Member

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    1. Yes, but I'm a tech head.
    2. Yes.
    3. I'm accumulating gold and silver right instead. People are just too old school right now. I do believe it's the 'gold and silver' of the future though, it cannot be manipulated in the same way but it's super divisible and instantly and freely transportable. Once bitcoin wallets on iOS devices is a widespread thing then it will be big. The banking cartels will stop at nothing to prevent this though. Gold and Silver are already out there.
     
    Last edited: 18th Jun, 2015
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  3. Steven Ryan

    Steven Ryan Well-Known Member

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    Circle are the leading bitcoin wallet at the moment and offer excellent service. I've had the iOS app for quite a while and they've going well with each round of funding. They might not dominate that space but they've gained serious traction.

    Sending BTC to anyone on earth is a simple as unlocking the app with my fingerprint, scanning a QR code (or entering their email address) and tapping send. It's wonderful.
     
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  4. Mumbai

    Mumbai Well-Known Member

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    1. No
    2. No
    3. See above
     
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  5. Propagate

    Propagate Well-Known Member

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    Yes, bought some Bitcoins when they were DIRT cheap, but couldn't for the life of me work out how to do a paper wallet. By the time I was ready to paper-wallet them, MtGox went bust and took my coins with them. I paid almost nothing for them, but they were (are) worth a LOT more than I paid. I'm hoping the bankruptcy admin will turn up enough to pay some of them back.

    I bought 1 coin through CoinJar last year and put it into paper wallet, just in case they ever do hit that million-dollar-per-coin mark.

    I also have some Ripples that I got free somehow, can't remember how or why and no idea what they are or what to do with them.
     
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  6. Steven Ryan

    Steven Ryan Well-Known Member

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    Shame about the loss. Good luck with the bankruptcy proceedings. I'd read recently that a decent bit of the stolen coins will be compensated.

    If Bitcoon hits the $1mil a pop mark, those decimal places will have served their purpose and become meaningful. I'm holding mine for the long term for that outcome (again, I am fine with a 100% loss in the worst case). The up side certainly is in impressive.
     
  7. The Falcon

    The Falcon Well-Known Member

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    1. Yes
    2. Rode BTC $80 to $220 then jumped off. Purely a punt.
    3. Not a great deal of interest at this stage, I'm not in to speculation. (Beyond what I know to be purely a punt obviously! Not with any real capital)
     
    Last edited by a moderator: 19th Jun, 2015
  8. Ouga

    Ouga Well-Known Member

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    Crypto currencies have had a fantastic run last year.
    These days, the price is relatively stable in comparison. It's a rather complex concept for the general public to grasp, however the technology behind it - especially the blockchain - is starting to generate some interest.
    In the future, it could play a role in international monetary transactions as the world keeps getting more and more digital. At this stage however it is imho a gamble to see what will happen with it. You could do worse than getting some bitcoins at this price point though, so it's is not a terrible bet - they went up to $1300 a piece last year!
     
  9. radson

    radson Well-Known Member

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    Interesting
    that some commentators are saying that cryptocurrencies are taking over gold as safe haven status in 'troubled times' ie compare rise in bitcoin compared to flatline in gold during the greek 'crisis'
     
  10. bythebay

    bythebay Well-Known Member

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    I first heard about bit coins and crypto currencies 5years ago and immediately dismissed them as short term gimmicks

    But when I started reading into them properly 1.5 years ago the technology behind crypto currencies seems to be the real game changer

    I have something like 0.000001 of a bit coin somewhere in a bit coin wallet gifted by my husband :D

    Would be interested to see other applications of the technology

    I think crypto currencies has a future ... Just need one forward thinking reputable bank to get on board and some sensible regulatatory monitoring and it could take off ...
     
  11. Steven Ryan

    Steven Ryan Well-Known Member

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    The Greece effect:

    greece_effect.png
     
  12. Special order

    Special order Well-Known Member

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    Going out on a radical limb here but I personally think the world of technology will eventually run out of steam- popularity I mean. When people finally have enough of facebook then all the rest will follow- have a look at food and see where it is trending....raw is making a comeback and so is flares in clothing, also beards- wow who would of thought???.... In ten years we will talking into cups with strings- you heard it here first
     
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  13. Steven Ryan

    Steven Ryan Well-Known Member

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    Radical indeed, @Special order .

    I think perhaps you may have overlooked the endless march towards increasing complexity that's been going on with human tools for 100,000+ years and how interwoven we, as a species, are with our technologies.

    Stone spears, language, mathematics, printing press, medicine, physics, mechanics, computers, robotics, transportation, communication, the internet, 3d printing, nanotechnology, quantum computing..WORLD-CHANGING, perpetually compounding.

    But I guess we'll have to wait and see :)
     
  14. Steven Ryan

    Steven Ryan Well-Known Member

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    More interesting movements with bitcoin.

    After settling into its most stable period since its skyrocket-then-crash, it's now following a nearly identical upward trend to what happened when it went to the moon.

    Very interested to see how far this run goes, and what the aftermath looks like.

    [​IMG]

    [​IMG]

    Hold on for the ride.
     
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  15. skyfall

    skyfall Well-Known Member

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    Last edited: 30th Oct, 2015
  16. Northy85

    Northy85 Well-Known Member

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    I'll be the first to admit I don't know much about Crypto Currencies, but with the advancement of quantum computers I don't think they will last another 15 years in there current state. However, if quantum computers become main stream then there will be invented a new Quantum Crypto Currencies. These will be like Bitcoin on roids.
     
  17. Steven Ryan

    Steven Ryan Well-Known Member

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    Yep, @skyfall, bitcoin is cool but the Blockchain tech behind is the real breakthrough. Incredible possibilities. I wonder when that cover or news that it would be on the cover broke..

    @Northy85, you're on to something.
     
  18. Special order

    Special order Well-Known Member

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    Unfortunately your lemmings money is not going to be worth much in the distant future. Once people start unplugging and putting down there smartphones ....(yes the internet will still be around but peoples interest will start to turn elsewhere)... My dollar is on the fact that soon the headlines are going to read that smartphones give you eye cancer and that everyone will freak and throw them out the car window... What a disaster that's going to be, imagine not being able to check new posts every 2 minutes, ....seriously though this bitcoin nonsense is just some afterbirth of this technology fad the whole world is going through, it's "bartercard" just dressed up differently
     
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  19. Steven Ryan

    Steven Ryan Well-Known Member

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    @Special order, like how everyone has already thrown out their smartphones with the articles claiming they cause cancer?
     
  20. Steven Ryan

    Steven Ryan Well-Known Member

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    Meanwhile bitcoin is up > $60AUD since Friday.
     
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