The economics of BitCoin

padington

If you want a crypto tip, check out Vechain (Ven), cardano (Ada) and Request Network (REQ).

VEN is the one that is / will blow up this quarter. All available on binance. You can secure your ether or BIt coin to trade into them on coinbase.

Malthusian

There's a certain amount of irony in someone who talks in their sig about the need to "commit global capital to the rule of law" ramping cryptocurrencies.

Presumably it's only other people's global capital that needs to be subject to the rule of law.

GreatApe

A lot of the rampers have somehow convinced themselves that bitcoin (or one of its clones) is the saviour they have all been waiting for. A way the poor will free themselves from being debt slaves and a technology that is going to change literally everything for the better.

They talk as if everyone who is poor gas a stake in bitcoin and everyone who is rich and powerful has no stake. That is of course rubbish and they are clearly preaching their new religion to each other.

What I would suggest is look at the rich and powerful today, the rich CH and powerful of tomorrow will be the same people or one if their clones. The meek will never inherit the earth. Anyone telling you that they will is just trying to use you.

Electrum

Bitcoin is rubbish, but bockchain is brilliant and it is going to change the world.


It will inject truth and honesty into all markets, the end to manipulations.


True price discovery of silver and other manipulated markets.

westernpromise

Malthusian wrote: »

There's a certain amount of irony in someone who talks in their sig about the need to "commit global capital to the rule of law" ramping cryptocurrencies.

Presumably it's only other people's global capital that needs to be subject to the rule of law.

In the same way, many people think the only legitimate fortune is one earned in the public sector. Private sector money is bad money and should not really exist, whereas public sector money is good money and should really be the only kind allowed. Let's all hold hands under a rainbow.

westernpromise

Electrum wrote: »

Bitcoin is rubbish, but bockchain is brilliant and it is going to change the world.


It will inject truth and honesty into all markets, the end to manipulations.


True price discovery of silver and other manipulated markets.

Have you reported you analysis of how the silver market is being manipulated to the authorities, along with your evidence?

westernpromise

Lloyds bans people from buying magic Internet money with their credit cards:
http://www.telegraph.co.uk/technology/2018/02/04/lloyds-bank-bitcoin-crackdown-credit-card-owners-banned-buying/
Presumably they're worried that if people do this through a credit card Lloyds are on the hook for their losses.
"The price of Bitcoin has fallen by 57 per cent from £14,000 in December to less than £6,000..." - no wonder the crash trolls liked it so much! Presumably it's the establishment rigging the market so honest Bitcoin speculators get cleaned out?

chucknorris

westernpromise wrote: »

Lloyds bans people from buying magic Internet money with their credit cards:
http://www.telegraph.co.uk/technology/2018/02/04/lloyds-bank-bitcoin-crackdown-credit-card-owners-banned-buying/
Presumably they're worried that if people do this through a credit card Lloyds are on the hook for their losses.
"The price of Bitcoin has fallen by 57 per cent from £14,000 in December to less than £6,000..." - no wonder the crash trolls liked it so much! Presumably it's the establishment rigging the market so honest Bitcoin speculators get cleaned out?

The trouble is (for bitcoin 'investors' :rotfl:) it could go much lower, at least with property/equities you can sit tight during the correction period and still receive rent/dividends. But bitcoin doesn't produce income and only has a perceived value.

cogito

westernpromise wrote: »

Lloyds bans people from buying magic Internet money with their credit cards:
http://www.telegraph.co.uk/technology/2018/02/04/lloyds-bank-bitcoin-crackdown-credit-card-owners-banned-buying/
Presumably they're worried that if people do this through a credit card Lloyds are on the hook for their losses.
"The price of Bitcoin has fallen by 57 per cent from £14,000 in December to less than £6,000..." - no wonder the crash trolls liked it so much! Presumably it's the establishment rigging the market so honest Bitcoin speculators get cleaned out?

The banks reveal their stupidity again. Why give someone a credit limit if they don't think they can repay?

Herzlos

It's not that they don't think they can repay, it's presumably to avoid people speculating on credit. If someone really wants to take that risk, then they'll need to find other funding (or money transfer into into a current account).

I don't think it's a stupid move at all, unless you think being concerned about people screwing themselves is stupid.