I'm gonna post this in every /news
thread because it seems people here don't understand the most basic facts about "cryptocurrencies".
Cryptocurrencies are not always meant to function like traditional currencies. They're called currencies because they're tradeable.
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets
All that means is they're digital assets that can be traded from one party to another without the need of a middleman. It doesn't mean they are a currency meant to buy lattes and pay your friends. Some of the most interesting cryptos are ones that people will not even realize they are using.
There are many classes of coins/tokens. Which can do a lot of different things. An absurd amount of things.
Edit: Anyone who's researched the most basic facts of crypto knows that bitcoin is not private. You all are reading news from the early 2010's at this point.
- Traditional Coins: Bitcoin, Litecoin
- DAG Coins: IOTA, Raiblocks
- Supply Chain Coins: VeChain, Waltonchain, Modum
- Privacy Coins: Monero, Dash, ZCash
- Smart Contract Platforms: Ethereum, Lisk, Neo, NEM, QTUM
- Prospective Projects: EOS, Cardano
- Scams: Bitconnect
- Payment Solutions: Ripple, Stellar, Request Network, OmiseGo
- Ecosystem Payments: Chainlink, Quantstamp, BAT,
- Exchange Coins: Binance Coin, Kucoin Shares, Kyber Network, 0x
- Supercomputing: Golem, iExec
There are dozens more categories. Including things like [Credit]1
, and [Shit that's so complicated I can't even explain it]3
The key is that they are easily tradable from you to me. I can send anyone on this board crypto right now. As long I know where to send it. That crypto goes way beyond cash and currency. Some of them could represent anything. From dividend payments to debt.
Say Apple decided to come out with a coin called APPLE. That APPLE coin would distribute you profits based on how much you hold (Like a dividend). Then you could trade APPLE for GE. Without a broker.
What if you could buy a house without a title company? Or send money to your family in a foreign country with no fees?
There are millions of problems that crypto can help solve. Some of them don't require a token and just need a blockchain. Some of them CAN use a token, and that coin/token can have tremendous value.
That's what cryptocurrencies are. They're not stocks, real estate, bonds, or commodities. They're a whole new thing. They have different parameters. They act different. They have different markets.
The reason Bitcoin(BTC) and Ethereum (ETH) are so dominant is because they are the de facto trading commodity in the crypto space. Everything is CoinX/BTC or Coinx/ETH. You need these coins to get in the game. [Bitcoin is dying.]4
It's having trouble scaling and facing internal (the bcash war) and external (governments, whales) pressure. It's continued to lose market share to ETH and several new up and comers that can do even more.
Crypto is rapidly changing. People are moving away from power intensive Proof of Work protocols to Proof of Stake variations. We now have DAGs entering the fray, which have hypothetical feeless and instant transactions that could potentially power a whole new ecosystem of payments and devices.
The world of crypto is exciting and interesting. It's volitile and dangerous. But it's not a ponzi scheme. It's not a scam. There is real money being made. Real companies are embracing it. Real interesting ideas are being constructed and executed.
You have basically two choices. You can get interested and learn, or you can pretend it's not real and ignore it. The latter group has been proven repeatedly wrong. Those mistakes could possibly be fatal for certain businesses. As for the "bubble" talk. Crypto bubbles pop all the time. Bitconnect (an infamous scam) was annihilated this week. Bitcoin itself is bleeding badly and continues to lose market share. Coins like Vertcoin rocket up to the top 20 only to fall below into the 100s based on overhype and "flavor of the month" style thinking. It's complex international market that never sleeps, always surprises and is difficult to predict.
One thing is for sure. Regardless of whether you believe in crypto or not. The people calling it "all a ponzi", "tulip mania", or "drug currency". Those people are fucking morons who have done no research
. They're also incredibly abundant here. Crypto may be speculative, but you bet your ass people are going to speculate with twelve figure companies like Microsoft, IBM, Bosch are creating entire legions of personnel and resources dedicated to developing them. Each coin has a unique user base, application and potential. Some of them have serious challenges. Some of them have serious flaws. The activity in China, Korea and Japan is extraordinary. Some cities are positioning themselves to be "crypto capitals". There is even speculation that countries like China will "anoint" blockchains to be standardized and used throughout their economy. Cornering the market and dumping spectacular amounts of cash into certain coins.
The rabbit hole goes even deeper when you get into ICOs, deep chart tokens, whale manipulation, governmental relations (Chinacoin), investor theory (going beyond coin fundamentals to coin perception and marketing), taxes, complex ecosystems (ERC20 tokens), cold storage, exchange politics, and dozens of other hot topics.
I hope that clears some things up. I also suggest reading and visiting the communities behind some of the coins I've listed.
Edit: added some details and fixed some spelling. Please feel free to repost this, or correct me.
''' Context Link Go1dfish undelete link unreddit undelete link
1: *ell*b*oom.*o/ 2: www.sa*tl*nding**o*/ 3: dist**c*0*.io/ 4: https://coinmarketcap.com/charts/
Unknown links are censored to prevent spreading illicit content.
Could US Election Results Be The Trigger for $20k Bitcoin Price? Bitcoin is currently trading at $14,504.80, a new yearly high and if it manages to break the $15,000 barrier there is no resistance until $20,000. The king coin has already broken out of the double resistance and looks highly bullish at the moment. Although, there is no direct co-relation between Bitcoin price and the election ... BTC/PAX Binance price chart in real-time. Stats on multiple timeframes, order book, news and trollbox. Coinalyze. Futures Data. Individual Charts; Global Charts; Technical Analysis. Bitcoin Ethereum Ripple Bitcoin Cash Bitcoin SV Cardano Litecoin Binance Coin Crypto.com Coin EOS Chainlink Stellar Lumens Tezos Tron UNUS SED LEO Monero VeChain NEO Ethereum Classic Iota Dash Cosmos Dogecoin ZCash ... Get instant access to a free live streaming NEO BTC chart. This unique Neo Bitcoin Binance chart enables you to clearly notice the behavior of this pair. Bitcoin investors are gearing up for the long-awaited 2020 halving—a supply squeeze that will see the number of new bitcoin being created cut by half.. The bitcoin price has this week soared by ... That’s not how Bitcoin works. Retraces are short and vicious. Crashes even more so. 40% down is not unlikely, it’s happened before, it’ll happen again,” he stated. Yet there are still reasons why analysts are betting on upside. One trader shared the chart below in the wake of the move, asking who is buying the dip after the drop. The below chart reveals that San-Fransico based cryptocurrency exchange, Coinbase had the largest amount of 953,192.845 BTC stored in its platform. Huobi was right behind as it had a total of 363,646.936 BTC and the world’s largest cryptocurrency exchange, Binance had 268,864.360 BTC balance in its exchange. Source – glassnode studio
Binance is blocking US residence soon. Are you wondering which alternative Bitcoin and Crypto exchanges to use? If so tune in! Become a CryptosRus INSIDER to gain exclusive insight on the market ... #Bitcoin failed pump? Massive resistance still looms ahead. $BTC realized market cap hits $100 billion, Binance introduces crypto lending, Brave expands cryp... Bitcoin News + Wochenrückblick ⭐️ Kurs, Bitgrail - Binance Hack, McAfee, Sicherheit, DEX Telegram Kanal: https://t.me/PassivesEinkommenBlogCom In diesem V... Binance Coin hat eine wichtige Unterstützung voraus. Nur besteht die Gefahr, dass die Unterstützung früher oder später aufgegeben werden könnte. Erlernen Sie unser Trading-System im Rahmen ... Es geht um den Bitcoin Kurs Ausbruch obwohl noch am Anfang der Woche die größte und bekannteste Bitcoin Börse Binance gehackt wurde. Es gab aber auch noch weitere News. Mehr im Video:) Es gab ... Bottom left chart is bitcoin 1 hour bars. Top two charts are Bitcoin Longs and Bitcoin Shorts. Top left pie chart is the Binance 'Bull Market Watch' available at https://www.IntroToCryptos.ca ... Welcome back to Coin Rivet TV! In this video, Oliver and Nawaz take a look at the Binance Coin chart. Thanks for watching, we will see you again next time! #BNBUSD #BNBBTC #BNB #Binance # ... #BINANCE #BITCOIN #BTC Binance СЕО : In this AMA, We are discussing BTC price and talking about Bitcoin price prediction. Also, we prepared an airdrop of 10000 BTC to giveaway for our followers.