We NEED Crypto-Payments!

[Alek]

We're only accepting bogecoin, memecoin, and zimbabwe sheckles at this time. 

[IDontEB]

On 11/9/2017 at 12:15 PM, purplewatilla said:

I don't hold much btc, I'm ETH master-race. I just believe in decentralized currencies.

I'm certain more and more online retailers will start accepting crypto currencies as they continue to gain more traction. Don't be blinded by your salt from all the crying you've done from missing out on this big beautiful crypto train! It's still not too late to hop aboard!

Just seeing this again, but you should read this https://seekingalpha.com/article/4122695-bitcoin-series-2-usage The author gives a very good estimate on the actual percent useage of BTC as a currency and it's between 1-2%. Since BTC is the face of cryptocurrencies, it'd be fair to assume this is representative of all the cryptocurrencies. I think the real person blinded by desire is you, fake news articles saying amazon will accept btc and the belief that cryptocurrencies are being used as an actual payment medium beyond what they are are proof of your delusional thinking.

[purplewatilla]

3 hours ago, IDontEB said:

Just seeing this again, but you should read this https://seekingalpha.com/article/4122695-bitcoin-series-2-usage The author gives a very good estimate on the actual percent useage of BTC as a currency and it's between 1-2%. Since BTC is the face of cryptocurrencies, it'd be fair to assume this is representative of all the cryptocurrencies. I think the real person blinded by desire is you, fake news articles saying amazon will accept btc and the belief that cryptocurrencies are being used as an actual payment medium beyond what they are are proof of your delusional thinking.

During the dot-com bubble, only 1% of retail commerce was done online.

I'm well aware it's not being used that commonly as a currency at the moment. I think we're still in it's infancy, and I think that 10 years down the line blockchain will revolutionize how we pay for things, and how companies receive money. 

I think that we're in the very early stages of a bubble that will inflate much much larger. I do think it's an incredibly speculative market, and I know that it could all come crashing down due to intense regulation, classification as a security, a MGOX cosplay, etc. But I believe that blockchain is one of the most substantial inventions in computing since the advent of the internet. 

I was a skeptic like you ~5 years ago, I'm not going to try and reason away why crypto won't work. I said fuck it once I watched it go from $50, to $300, to $1200, back to $200, then now all the way up through $19,500. I'm not missing the gain train this time. Sure I use stop-losses, but I think this thing is going the distance. I don't think bitcoin will be used for day to day transactions, unless off-chian transactions are heavily implemented and deployed. That's why I invest in things like XRB, which I've done with great success I might add.

Almost everything is speculation at this point, but so was the dot-com bubble, and that was a mostly American event and it got to around a ~5 trillion market cap, this is a global event and everyone can participate. The marketcap on crypto at the moment is around 350B, we have a ways to go, hold your seat and maybe bottle your tears for me to consume in a year or two's time.

 

XRB Gains:

Spoiler

 

 

Edited December 10, 2017 by purplewatilla

[Jammer]

On 2017-11-09 at 8:51 PM, purplewatilla said:

Crypto is a lifestyle

You heard him. 

[IDontEB]

11 hours ago, purplewatilla said:

During the dot-com bubble, only 1% of retail commerce was done online.

I'm well aware it's not being used that commonly as a currency at the moment. I think we're still in it's infancy, and I think that 10 years down the line blockchain will revolutionize how we pay for things, and how companies receive money. 

I think that we're in the very early stages of a bubble that will inflate much much larger. I do think it's an incredibly speculative market, and I know that it could all come crashing down due to intense regulation, classification as a security, a MGOX cosplay, etc. But I believe that blockchain is one of the most substantial inventions in computing since the advent of the internet. 

I was a skeptic like you ~5 years ago, I'm not going to try and reason away why crypto won't work. I said fuck it once I watched it go from $50, to $300, to $1200, back to $200, then now all the way up through $19,500. I'm not missing the gain train this time. Sure I use stop-losses, but I think this thing is going the distance. I don't think bitcoin will be used for day to day transactions, unless off-chian transactions are heavily implemented and deployed. That's why I invest in things like XRB, which I've done with great success I might add.

Almost everything is speculation at this point, but so was the dot-com bubble, and that was a mostly American event and it got to around a ~5 trillion market cap, this is a global event and everyone can participate. The marketcap on crypto at the moment is around 350B, we have a ways to go, hold your seat and maybe bottle your tears for me to consume in a year or two's time.

 

XRB Gains:

  Reveal hidden contents

 

 

The dot com bubble is nothing like the cryptocurrency bubble. Previously websites provided a service or some kind of tangible thing to attract people to using them. In the current state almost every cryptocurrency provides zero value and is a worthless coin. XRB is a perfect example of a coin with zero value and absolutely horrible business model. The dev has all the original coins in his wallet somewhere and gives out coins based on solving captchas for him. He probably collects cash for those captchas and rewards you with useless coins, after a while he can also dump the coins and there is nothing left. As a transaction medium, no one will ever realistically consider XRB for that use because an unknown person has an unknown amount of coins stashed somewhere and can dump them at any time. 

Also i'm not saying one cannot make money on them because anyone can make money during a bubble but all of these cryptocurrencies expect maybe ETH and 1 or 2 more will come to an end eventually. They simple do not provide any tangible benefits for them to exist. ETH, the seemingly more promising one wants to provide distributed cloud computing but that is something which datacenters can do much more efficiently and will always win out if the ETH model is actually successful.

[dreameo]

27 minutes ago, IDontEB said:

The dot com bubble is nothing like the cryptocurrency bubble. Previously websites provided a service or some kind of tangible thing to attract people to using them. In the current state almost every cryptocurrency provides zero value and is a worthless coin. XRB is a perfect example of a coin with zero value and absolutely horrible business model. The dev has all the original coins in his wallet somewhere and gives out coins based on solving captchas for him. He probably collects cash for those captchas and rewards you with useless coins, after a while he can also dump the coins and there is nothing left. As a transaction medium, no one will ever realistically consider XRB for that use because an unknown person has an unknown amount of coins stashed somewhere and can dump them at any time. 

Also i'm not saying one cannot make money on them because anyone can make money during a bubble but all of these cryptocurrencies expect maybe ETH and 1 or 2 more will come to an end eventually. They simple do not provide any tangible benefits for them to exist. ETH, the seemingly more promising one wants to provide distributed cloud computing but that is something which datacenters can do much more efficiently and will always win out if the ETH model is actually successful.

Majority of the coins aren't of any use. But don't let that persuade you in thinking blockchain isn't something revolutionary. Not that in the sense that's brand new, but it offers a new infrastructure where the future will be built on.

BTC may just be a currency and could fail, but that's not important. What something like ETH is doing, is what's important. It's not distributed computing that ETH offers, it's an entire infrastructure to build on. From the man himself:

Spoiler

"applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property."

Blockchain is providing value to many different companies right now. With blockchain being so successful, cryptocoins will be essential.

[IDontEB]

55 minutes ago, dreameo said:

Majority of the coins aren't of any use. But don't let that persuade you in thinking blockchain isn't something revolutionary. Not that in the sense that's brand new, but it offers a new infrastructure where the future will be built on.

BTC may just be a currency and could fail, but that's not important. What something like ETH is doing, is what's important. It's not distributed computing that ETH offers, it's an entire infrastructure to build on. From the man himself:

  Hide contents

"applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property."

Blockchain is providing value to many different companies right now. With blockchain being so successful, cryptocoins will be essential.

What ETH is doing is very similar to things that already exist though, Cloud foundry is an open source industry standard cloud application platform that abstracts away infrastructure so it's users only have to worry about making applications. These applications run in Datacenters flawlessly for anyone who's competent with them and are easy to scale with technology like Amazon's elastic computing. Unless ETH has more to offer besides censorship and third party interference then they are going to be rendered useless when the speculative bubble bursts. Both Cloud foundry and ETH based applications would require one to integrate with either technology but there is no tangible benefit to choosing ETH over Datacenters for such applications. While I have not looked at what it would cost to run an application on their network I have seen the price points AWS offers and they are practically unbeatable for what you get. Some vps on AWS range from 4 cents an hour; Prices like that are very hard to beat.

 

[John Cena]

Bitpay and coinbase can instant convert btc to fiat so there's no issue with price changes unless the buyer has low txt fee. If osbot are happy as they are then so be it, that isnt stopping resellers which provides access to countless other payment methods.

[liverare]

How likely is it to find someone who's prepared to pay stupid amounts for a single bitcoin? This is the flaw I see in the whole crypto-currency scheme; if there's no way to exchange your bitcoins for fiat currency, products, or services, then saying you have a million bitcoins doesn't mean shit.

Edited December 10, 2017 by liverare

[BrainDeadGenius]

2 hours ago, liverare said:

How likely is it to find someone who's prepared to pay stupid amounts for a single bitcoin? This is the flaw I see in the whole crypto-currency scheme; if there's no way to exchange your bitcoins for fiat currency, products, or services, then saying you have a million bitcoins doesn't mean shit.

You do realize how dumb you are, correct? Yes, there are exchanges where you can exchange your cryptocurrency with an actual buyer for fiat, but there are also platforms that buy your currency and transfer the equivalent amount into your bank account without the need of another human. Your argument is bogus.

[RDM]

coinbase fees are like 19% atm tho.

[purplewatilla]

7 hours ago, IDontEB said:

The dot com bubble is nothing like the cryptocurrency bubble. Previously websites provided a service or some kind of tangible thing to attract people to using them. In the current state almost every cryptocurrency provides zero value and is a worthless coin. XRB is a perfect example of a coin with zero value and absolutely horrible business model. The dev has all the original coins in his wallet somewhere and gives out coins based on solving captchas for him. He probably collects cash for those captchas and rewards you with useless coins, after a while he can also dump the coins and there is nothing left. As a transaction medium, no one will ever realistically consider XRB for that use because an unknown person has an unknown amount of coins stashed somewhere and can dump them at any time. 

Also i'm not saying one cannot make money on them because anyone can make money during a bubble but all of these cryptocurrencies expect maybe ETH and 1 or 2 more will come to an end eventually. They simple do not provide any tangible benefits for them to exist. ETH, the seemingly more promising one wants to provide distributed cloud computing but that is something which datacenters can do much more efficiently and will always win out if the ETH model is actually successful.

The dot com bubble happened when barely anyone was using websites, but if you threw "dot com" in what your company does, people would throw money at you. This is when less than 1% of shopping was done online. What I'm saying is that this is beginning to something very large, I think there is a bubble that will pop, but in 10 years time it'll be stronger than ever just like the what happened in the dot com bubble.

5 hours ago, liverare said:

How likely is it to find someone who's prepared to pay stupid amounts for a single bitcoin? This is the flaw I see in the whole crypto-currency scheme; if there's no way to exchange your bitcoins for fiat currency, products, or services, then saying you have a million bitcoins doesn't mean shit.

Supply and demand. 

2 hours ago, BrainDeadGenius said:

You do realize how dumb you are, correct? Yes, there are exchanges where you can exchange your cryptocurrency with an actual buyer for fiat, but there are also platforms that buy your currency and transfer the equivalent amount into your bank account without the need of another human. Your argument is bogus.

Are you stupid? These exchanges operate on the current average of bids and asks on other exchanges (e.g. coinbase uses gdax)

1 hour ago, RDM said:

coinbase fees are like 19% atm tho.

Use gdax to bring those fees down to .3% tops my friend.

[purplewatilla]

bUmp

[purplewatilla]

Brrrrrrrrrrrrrrrap

[purplewatilla]

B-B-B-Bumpy slope head