Cryptocurrencies

http://lp.cryptotrades.exchange/alt...=dianomi_ripple_effect_premium_1_au_13022018#

Is it the virtual coin itself, or rather the blockchain tech behind it that will make it big beyond 2018?

 

Blockchain.....the trust protocol.

Im excited about new developments utilizing BC technology, is anyone else here into it?
Basically, its a decentralized digital technology for recording and verifying transactions and the base for all cryptocurrencies, however its uses beyond this, are potentially exponential.

Im still learning more on the topic, but just wondering who else has looked into it and seen an opportunity?

Imagine this wacky scenerio :

Majorgeeks forms its own cryptocurrency called the 'geek' (effectively designing their own blockchain)
They release 10,000 geek, of which they retain 8,000 and distribute the other 2,000 geek among members.
A geek is valued at 1 USD.

DavidGP comes onboard with his new ride share business called 'geek'
There are currently 50 network participants in geek (MG's peer-to-peer)....25 drivers, and 25 riders (customers)
For a ride home (within locality), it will cost you 1 geek, this is the only currency MG accept as transactions are secured and recorded within their own blockchain.

People start to see that its way cheaper than Uber, so demand rises for 'geek' services, and people begin to exchange Bitcoin for Geek in order to take advantage of cheap rides home.....this forces the value of 1 geek to rise to $2.

Suddenly, DavidGP realizes that his net worth has effectively doubled because not only did he make a geek for the ride home, but that geek also rose in value as an investment, which can be exchanged for USD.
Majorgeeks have also now doubled their wealth with the 8000 geek they hold.

Hehe, its a basic silly example but anyway.....you all know what im getting at

Its a fun topic that i want to discover more about, thats all!

 

https://azure.microsoft.com/en-us/solutions/blockchain/

 

Your spot on Dave, its ultra competitive now in a resource hungry fashion.
CPU's, GPU's and even dedicated motherboards wont see you compete anymore in crypto mining!

Multiple machine formations seem the best hope of mining today, hence the new malware hack attacks which take over the vulnerable home systems in order to create bot army's to harness more power.

Its a catch 22 which will spell its doom as a currency, if it gets unreasonable to mine, blockchain verification fails.

China have now banned crypto exchanges and i feel the rest of the western world will soon follow as they try to weed out crime and the ability to launder money, and its influence within the dark web.

 

Another major issue is your power-usage bill as crypto mining sucks the juice! (as well as resources)
If it costs you more to mine in power, than your reward in Bitcoin for solving the maths algorithms, mining becomes uneconomical.
Cloud mining now helps to alleviate this problem somewhat, but it also costs $$ to utilize and sometimes the con's can outweigh the pro's!
I would carefully research before entering the arena to see if its worth your time and effort today, but as DavidGP says it would have been a real opportunity for income production back in 2008, 09 and 10, not to mention its awesome investment returns as a crypto currency.

I think you did a very honorable thing David in helping to save lives with your geek abilities rather than for personal gain....A+ mate

Rep

 

I don't be leave in bitcoin.

Due to the fact that it's nothing but a money racketeering scam.I am pretty sure some one has hacked this system by now.

 

This is a very broad term and it is only your online bitcoin wallet which is susceptible to infiltration just like anything else you store in a cloud or on a hard drive.
The blockchain technology behind it is not susceptible or exposed as it is an online ledger that everyone has access too, and needs verification from all ledgers for any transaction blocks to be added to the chain. The first instance anything does not fit the algorithm, it is rejected and does not go into the chain thus making it foolproof.

 

You would do well to learn more about what you know little of!

 

I know much thank you.Enough to stay away from it.I don't waste my money on this due to the hacking as of late.
http://fortune.com/2018/02/14/bitcoin-cryptocurrency-blockchain-wallet-hack/

 

And i pay enough in taxes thank you.

 

No worries mate, was hoping my thread wouldn't resolve to this but thats life i guess.

Good luck with your taxes!

 

In fairness wile, crypto is most likely the best scam of our time. There is no underlying asset to back it, and its value is purely determined by the crowd.
The USD is underlied by gold, or at least it was.
If greed prevails and its the thing to have, crypto rises.....when fear sets in and demand falls, it falls along. Its the same with any asset class of investment.

The window of opportunity for crypto currencies has now closed in my opinion as we have stated in posts above.

I am only a fan of the tech which lays behind it.......Blockchain!
It is the future of our internet as we know it, and its approaching fast.
Its only my opinion, but i think the smart money now will be invested in companies evolving in blockchain.

 

Remember, its only a scam if you have lost money.

If you made 1000% + return in the early days, its the best thing since sliced bread!

 

My taxes are done all ready lol.

 

https://www.quora.com/Why-is-Bitcoin-dropping-every-day