Do You BitCoin?

[plenzmd1]

4 hours ago, Augie said:

 

I don’t know how to thank you!!!

I do, but its not suitable for a family-friendly message board

[Augie]

5 minutes ago, plenzmd1 said:

I do, but its not suitable for a family-friendly message board

 

You can probably take the warning points. I’m curious, and feeling like a middle schooler. Do I have to double dare you?

 

Honestly,  I would never really encourage such behavior, since I don’t know if they offered alcohol at the game you attended tonight. I wish I could have had control of a TV the see the great PLENZMD1 in action courtside! My oldest son, Michael, chose basketball because......it was air conditioned! 

[BeginnersMind]

16 hours ago, Foxx said:

lol. the internet was just a bulletin board. Amazon was just a bookstore..... 

it's too bad you can't see where this is going.....

 

And the Segway is going to revolutionize human transportation. Hype is easy. Longevity is hard. 

 

Tell me the long term vision. Blockchain is and will be a valuable idea. It’s unfortunately not all that monetizable on its own (perhaps  an application agnostic platform like Ethereum may succeed in making some $$ as middleman to provide a blockchain platform for developers).

 

But no matter what, the real question is what of value will be the end result of blockchain. The currencies may float around but they are storage vehicles at best right now and nowhere near mature enough to take seriously as a currency. And even as an investment vehicle, they are off the chart risky. F

 

This is is a field full of noise and hype. Every startup I meet these days says blockchain in their pitch. The same way they said machine learning 2 years ago but had no machine learning tach. The same way they said internet of things 2 years before that but had nothing to do with iot.  The same way they said social media two years before that but didn’t create social networks beyond a Facebook link. Some leader may emerge but unlike those others, right now I don’t see it.

 

Everyone and their brother touts blockchain. It’s a great idea. It really is. But anyone can do it. And when an idea is so readily available, you have to look to see if anyone can either monetize that idea or build a successful company that would not have been possible before that idea arose.

 

I am waiting. For now I see a thousand vuvuzelas heralding the second coming of PT Barnum. 

Edited February 8, 2018 by BeginnersMind

[plenzmd1]

2 hours ago, BeginnersMind said:

 

 

This is is a field full of noise and hype. Every startup I meet these days says blockchain in their pitch. The same way they said machine learning 2 years ago but had no machine learning tach. The same way they said internet of things 2 years before that but had nothing to do with iot.  The same way they said social media two years before that but didn’t create social networks beyond a Facebook link. Some leader may emerge but unlike those others, right now I don’t see it.

 

 

1

Enjoyed this post, especially the bolded! The hype machine game in the Valley is strong.

 

Also, like that we have a civil conversation on here with different viewpoints on this stuff. I have learned a ton, found a lot of topics to investigate further, and know about crypto because of it. Good stuff for a sports message board!

[PolishDave]

4 hours ago, BeginnersMind said:

 

And the Segway is going to revolutionize human transportation. Hype is easy. Longevity is hard. 

 

This is is a field full of noise and hype. Every startup I meet these days says blockchain in their pitch. The same way they said machine learning 2 years ago but had no machine learning tach. The same way they said internet of things 2 years before that but had nothing to do with iot.  The same way they said social media two years before that but didn’t create social networks beyond a Facebook link. Some leader may emerge but unlike those others, right now I don’t see it.

 

Everyone and their brother touts blockchain. It’s a great idea. It really is. But anyone can do it. And when an idea is so readily available, you have to look to see if anyone can either monetize that idea or build a successful company that would not have been possible before that idea arose.

 

I am waiting. For now I see a thousand vuvuzelas heralding the second coming of PT Barnum. 

 

Were the people who already made fortunes in those fields you mentioned foolish for daring to try to make their fortune?

 

Was the inventor of Segway foolish for trying to invent a new industry?

 

Were the other search engines who tried to build the industry leader foolish for trying because Google ultimately won (at least so far)?

 

Were the other social media site inventor/investors foolish for trying to build the leaders in their field?

 

People made millions or billions in those industries even if their business idea was only temporarily successful.    Just like the guys who manufactured buggy whips, spittoons, typewriters and dial-up modems did back in the day.

 

People have made fortunes and are still making fortunes in the cryptocurrency field - and will continue to do so - for who knows how long.   

 

 

Teddy Roosevelt once said:

"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat. "

 

 

[Jauronimo]

4 hours ago, BeginnersMind said:

 

And the Segway is going to revolutionize human transportation. Hype is easy. Longevity is hard. 

 

Tell me the long term vision. Blockchain is and will be a valuable idea. It’s unfortunately not all that monetizable on its own (perhaps  an application agnostic platform like Ethereum may succeed in making some $$ as middleman to provide a blockchain platform for developers).

 

But no matter what, the real question is what of value will be the end result of blockchain. The currencies may float around but they are storage vehicles at best right now and nowhere near mature enough to take seriously as a currency. And even as an investment vehicle, they are off the chart risky. F

 

This is is a field full of noise and hype. Every startup I meet these days says blockchain in their pitch. The same way they said machine learning 2 years ago but had no machine learning tach. The same way they said internet of things 2 years before that but had nothing to do with iot.  The same way they said social media two years before that but didn’t create social networks beyond a Facebook link. Some leader may emerge but unlike those others, right now I don’t see it.

 

Everyone and their brother touts blockchain. It’s a great idea. It really is. But anyone can do it. And when an idea is so readily available, you have to look to see if anyone can either monetize that idea or build a successful company that would not have been possible before that idea arose.

 

I am waiting. For now I see a thousand vuvuzelas heralding the second coming of PT Barnum. 

That would be an equity investment not an investment in a crypto asset.  Crypto assets do not and will not produce cash flows.  In most cases, they aren't controlled by companies which would defeat the spirit of this decentralized movement.  Companies you and I invest in will adopt centralized blockchains to automate internal processes and save on costs but you won't buy and trade their tokens.

 

I think the question isn't will any of this tech survive.  The question that gives me anxiety as someone with skin in the game is will ETH and some of these other platform tokens appreciate in value or even maintain current value years from now even IF everyone you know is using their technology on a daily basis. 

 

Like the example put forth below, what if Karn is an overwhelming success and supplants ticketmaster and stubhub as a the global leader in event ticketing.  Does the token have much value?

https://multicoin.capital/2017/12/08/understanding-token-velocity/

[row_33]

my former IT guru colleague was bang on with Bitcoin and blockchain catching on , he was there from the ground floor on both matters

 

when he tells me what the next great thing will be, I'll get in at $0.02 gladly

 

 

 

 

[\GoBillsInDallas/]

5 hours ago, BeginnersMind said:

And the Segway is going to revolutionize human transportation.

 

 

[Foxx]

On 2/7/2018 at 2:11 PM, plenzmd1 said:

To be fair, the internet was a bulletin board and PORN !!!!

lol. you didn't the blockchain would escape that realm did you?

 

Spankchain

[Foxx]

On 2/8/2018 at 6:00 AM, BeginnersMind said:

 

And the Segway is going to revolutionize human transportation. Hype is easy. Longevity is hard. 

 

Tell me the long term vision. Blockchain is and will be a valuable idea. It’s unfortunately not all that monetizable on its own (perhaps  an application agnostic platform like Ethereum may succeed in making some $$ as middleman to provide a blockchain platform for developers).

 

But no matter what, the real question is what of value will be the end result of blockchain. The currencies may float around but they are storage vehicles at best right now and nowhere near mature enough to take seriously as a currency. And even as an investment vehicle, they are off the chart risky. F

 

This is is a field full of noise and hype. Every startup I meet these days says blockchain in their pitch. The same way they said machine learning 2 years ago but had no machine learning tach. The same way they said internet of things 2 years before that but had nothing to do with iot.  The same way they said social media two years before that but didn’t create social networks beyond a Facebook link. Some leader may emerge but unlike those others, right now I don’t see it.

 

Everyone and their brother touts blockchain. It’s a great idea. It really is. But anyone can do it. And when an idea is so readily available, you have to look to see if anyone can either monetize that idea or build a successful company that would not have been possible before that idea arose.

 

I am waiting. For now I see a thousand vuvuzelas heralding the second coming of PT Barnum. 

 

i actually really like this post. it is very constructive and asks legitimate questions, thank you.

 

as i have stated previously and i suspect you and many others know, in all of this cryptoverse, the underlying brilliance is the blockchain. it is the technology that these cryptos are built upon and makes them even remotely possible. this tech (blockchain) is going to revolutionize the world and it is already happening in so many ways. it is going to, or rather has the potential to make your everyday life easier and less expensive. although that is debatable since corporate america has never really given a cost savings back to the public, they would rather increase their bottom line and that is a major reason why these new start up companies that are utilizing the smart contracts of the Ethereum blockchain so valuable. they are going to truly create competiton with the oldschool network and make them come face to face with extinction. it may not happen today or tommorrow but it is going to happen. 

 

as an example of the blockchain tech being explored, the WSJ reported the other day that Walmart ran a simulated recall utilizing the blockchain. it traced the origin of a bag of sliced mangos in 2.2 seconds. their other systems, over 6 days. airlines are testing blockchain for tickets i could go on and on but i think you get the idea.

 

what i would really like to see in blockchain's future are things that really matter and affect us all. put voting on it, if done, there can be no fraud or even allegations of fraud. you and i cannot be cheated. put the government on blockchain, make them accountable to public scrutiny. we are accountable to them with their ever expanding domestic spying, i say they should be held to the same standard.

 

there is already a company by the name of Propy that is attempting to put real estate on the blockchain. poof, no more need for title searches and the costs associated with that. they are San Francisco based and have sold a number of houses already. i think if memory serves me correctly, an apt in the Ukraine was the very first transfer of property on the smart contract built upon the Ethereum blockchain. Vermont has teamed with Propy to launch of a pilot program in South Burlington, to use Blockchain technology to record real estate documentation.

 

again, i could go on and on about all the start ups that are currently building the new economy upon the blockchain, but i think you get the idea. the tech is here to stay, it is only a matter of who and what succeeds. you are correct, it is a crap shoot at present to try and determine who and what will be the next Amazon, Microsoft and Google. however, i've a strong hunch that there are going to be several that come out of this intital start into this new tech. 

 

ICO's are the newly emerging economy's IPO of yesterday (yes, yesterday). had you or i had the vision back in the early days of the internet to invest in some of the start ups, yes many would have proved worthless, but had we bought Amazon, Microsoft or Google back then, we would be very happy campers today. history is repeating itself. i for one don't want to miss the boat the second time around. when looking at the whole realm of this verse, i try to look for ones that are first movers in their space, have good vision and a strong team. the ground floor is open, for how much longer, i can not say.

 

 

 

On 2/8/2018 at 10:58 AM, row_33 said:

my former IT guru colleague was bang on with Bitcoin and blockchain catching on , he was there from the ground floor on both matters

 

when he tells me what the next great thing will be, I'll get in at $0.02 gladly

 

 

 

 

lol!

 

is this your tacit admission that all the trolling you have done in this thread is nothing more than sour grapes because you didn't listen the first time? i've good news for you, it's still not too late.

 

lol!

Edited February 9, 2018 by Foxx

[Jauronimo]

4 minutes ago, Foxx said:

ICO's are the newly emerging economy's IPO of yesterday (yes, yesterday). had you or i had the vision back in the early days of the internet to invest in some of the start ups, yes many would have proved worthless, but had we bought Amazon, Microsoft or Google back then, we would be very happy campers today. history is repeating itself. i for one don't want to miss the boat the second time around. when looking at the whole realm of this verse, i try to look for ones that are first movers in their space that have good vision and a strong team. the ground floor is open, for how much longer, i can not say.

One of the best aspects of the ICO model and crypto space is that its the first time in modern history where individual investors beat institutional money to the game.  The average investor is closed out of the initial rounds of IPOs where the windfall profits are made.  As a result, the investment banks and big time asset managers get the deals.  The game favors Wall Street but its all good because its for our "protection".

 

In crypto, main street beat wall street to the game and wall street is still mostly closed out of the space.  Average peeps have the inside track for a while yet to come. 

[snafu]

On ‎2‎/‎8‎/‎2018 at 10:50 AM, Jauronimo said:

That would be an equity investment not an investment in a crypto asset.  Crypto assets do not and will not produce cash flows.  In most cases, they aren't controlled by companies which would defeat the spirit of this decentralized movement.  Companies you and I invest in will adopt centralized blockchains to automate internal processes and save on costs but you won't buy and trade their tokens.

 

I think the question isn't will any of this tech survive.  The question that gives me anxiety as someone with skin in the game is will ETH and some of these other platform tokens appreciate in value or even maintain current value years from now even IF everyone you know is using their technology on a daily basis. 

 

Like the example put forth below, what if Karn is an overwhelming success and supplants ticketmaster and stubhub as a the global leader in event ticketing.  Does the token have much value?

https://multicoin.capital/2017/12/08/understanding-token-velocity/

 

So at the end of the day, what are crypto assets for?  Are they like savings accounts?  People are taking useable money out of the marketplace and converting it into non-useable money.  I get that it is akin to investing in a commodity, or gold, but it also isn't like that, because the market for the crypto asset isn't nearly as widely accepted to trade or spend.

 

 

[Jauronimo]

On ‎2‎/‎9‎/‎2018 at 3:31 PM, snafu said:

 

So at the end of the day, what are crypto assets for?  Are they like savings accounts?  People are taking useable money out of the marketplace and converting it into non-useable money.  I get that it is akin to investing in a commodity, or gold, but it also isn't like that, because the market for the crypto asset isn't nearly as widely accepted to trade or spend.

 

 

They are not like savings accounts.  Relatively few crypto tokens/coins aim to be "useable money".  What does market infrastructure have to do with behavior of the asset class and comparability to commodities?

[Foxx]

very simply, the cryptoverse is an emerging market. except, this is on a global market scale. as well as a micro within the macro.

think about that for awhile....

 

Quote

An emerging market is a country that has some characteristics of a developed market, but does not meet standards to be a developed market. This includes countries that may become developed markets in the future or were in the past.  --  Wikipedia 

Edited February 11, 2018 by Foxx

[snafu]

2 hours ago, Jauronimo said:

They are not like savings accounts.  Relatively few crypto tokens/coins aim to be "useable money".  What does market infrastructure have to do with behavior of the asset class and comparability to commodities?

 

I don't know. My mind is trying to come to terms with cryptos.  If I take money out of a stock and buy into crypto currency -- and I can't spent that currency -- then aren't I effectively putting my money aside, as thoug I'm saving it?  Almost like a high yield CD.  My question had more to do with how this particularly new investment has affected the economy as a whole (though I'm sure it didn't come across that way at all).  

 

There's so much uncertainty with the future of cryptos, in my mind.  Too many sovereigns seem to be trying to limit their use. 

 

 

 

Edited February 11, 2018 by snafu

[plenzmd1]

Just listed some tickets on Craigslist, and there is an option on there to get paid in Crypto...pretty cool!

 

BTW, Sabres Caps 02/24 in DC--if you want em, I got em(unfortunately)

Edited February 12, 2018 by plenzmd1

[/dev/null]

33 minutes ago, plenzmd1 said:

Just listed some tickets on Craigslist, and there is an option on there to get paid in Crypto...pretty cool!

 

BTW, Sabres Caps 02/24 in DC--if you want em, I got em(unfortunately)

So how are you going to cash out the bitcoins?

[plenzmd1]

7 minutes ago, /dev/null said:

So how are you going to cash out the bitcoins?

I didn't check that box, and  it didn't specify Bitcoin. 

 

Now let's just hope some Caps fan is dumb enough to spend money on essentially a preseason game

[/dev/null]

2 minutes ago, plenzmd1 said:

I didn't check that box, and  it didn't specify Bitcoin. 

 

Now let's just hope some Caps fan is dumb enough to spend money on essentially a preseason game

Glad you didn't go the bitcoin route.  If you had tried to cash out thru any reputable financial institution the transaction would be reported to the IRS and you would have been sent a 1099 next year reporting taxable investment income.

[Greybeard]

11 hours ago, /dev/null said:

Glad you didn't go the bitcoin route.  If you had tried to cash out thru any reputable financial institution the transaction would be reported to the IRS and you would have been sent a 1099 next year reporting taxable investment income.

      It could have been a loss.  How do they know what price you obtained it at?