New sub-board for cryptocurrencies?

Carrieanne

No

jamei305 wrote: »

A single thread should suffice.

Yes, a sticky permanently at the top of this forum titled: All Crypto Currencies and Blockchain Discussion Here, or something similarly worded, would be a simple solution.

redux

No

Carrieanne wrote: »

Yes, a sticky permanently at the top of this forum titled: All Crypto Currencies and Blockchain Discussion Here, or something similarly worded, would be a simple solution.

Nothing entitles the subject to exaggerated importance as a thread pinned to the top.

onomatopoeia99

Yes

Thrugelmir wrote: »

When somebody can come up with a serious rationale of what Bitcoin is and on what basis it is being valued. Then it'll be taken seriously.

It's a non-fiat currency not tied to or backed by any government, with a distributed verified ledger that allows secure transactions. Everyone with a copy of the ledger (blockchain) can see every transaction that has ever taken place. The blockchain is freely available, anyone can download it if they have 150GB or so of disk space and patience. There are better definitions available if you care to look for them.

It is being valued on the same basis as fine art. The "what people will pay for it" method of valuation.

That probably doesn't help.

Thrugelmir

Yes

onomatopoeia99 wrote: »

It's a non-fiat currency not tied to or backed by any government, with a distributed verified ledger that allows secure transactions. Everyone with a copy of the ledger (blockchain) can see every transaction that has ever taken place. The blockchain is freely available, anyone can download it if they have 150GB or so of disk space and patience. There are better definitions available if you care to look for them.

It is being valued on the same basis as fine art. The "what people will pay for it" method of valuation.

That probably doesn't help.

Fine art is at least something you can sit, look at and appreciate the skill used. I can view figures on an Excel spreadsheet in order to emulate Bitcoin, making them go up and down as I wish.

BananaRepublic

onomatopoeia99 wrote: »

It's a non-fiat currency not tied to or backed by any government, with a distributed verified ledger that allows secure transactions. Everyone with a copy of the ledger (blockchain) can see every transaction that has ever taken place. The blockchain is freely available, anyone can download it if they have 150GB or so of disk space and patience. There are better definitions available if you care to look for them.

It is being valued on the same basis as fine art. The "what people will pay for it" method of valuation.

That probably doesn't help.

That is for me the key problem, the valuation is purely according to demand, and hence it is highly volatile, and rather tenuous. What will happen once granny loses interest, and the bubble bursts? I can't see that the benefits outweigh the negatives for most transactions.

onomatopoeia99

Yes

BananaRepublic wrote: »

That is for me the key problem, the valuation is purely according to demand, and hence it is highly volatile, and rather tenuous.

Indeed it is. I wouldn't suggest anyone stakes money they can't afford to lose, but I'd also say that about buying shares in individual companies.

sfry

Yes

But there are hundreds of Cryptocurrency Altcoins it is not just Bitcoin. Everyone is focusing on Bitcoin. Why can't we have a board where they can be discussed together with wallets, the blockchain, mining etc.

Plus

No

sfry wrote: »

But there are hundreds of Cryptocurrency Altcoins it is not just Bitcoin. Everyone is focusing on Bitcoin. Why can't we have a board where they can be discussed together with wallets, the blockchain, mining etc.

This is a Money Saving site. Cryptocurrencies are not money saving nor are they investment, they are speculation aka gambling. Like other forms of gambling, there are other places on the internet for that. The MSE forum is not the right place for discussing the favourite of the 3.30 at Chepstow, nor it is for discussing the best strategies in Vegas. 'Investing' in cryptocurrencies is just more of the same. The mechanics of how they work is potentially interesting, but it's not Money Saving - find another forum for that.

The only place I can see it being relevant is discussing where to buy or sell with the lowest fees, just like the Travel Money part of the site. That might merit a thread, not a board.

planteria

Yes

i voted Yes on the basis that there is considerable interest and threads re. Bitcoin and other Cryptocurrencies tend to include people sniping at other. if there is a sub-forum then hopefully those who are not interested will not feel compelled to get involved at all.