Do You BitCoin?

[TheElectricCompany]

1 minute ago, PolishDave said:

 

Are you honestly asking about blockchain technology or are you asking about Bitcoin but saying blockchain?   Because they are two different questions with two different answers.

 

Seems like you are meaning to ask about Bitcoin but you are using the word blockchain.  

 

Blockchain specifically. 

[PolishDave]

35 minutes ago, TheElectricCompany said:

Blockchain specifically. 

 

Anything that could benefit from a permanent record that cannot be altered could be something that is improved/disrupted/revolutionized by blockchain.

 

Not only does it promise to enhance the workplace and lives of people within it, it threatens to disrupt the entire way in which business is conducted, the public institutions we rely on, and the very system of government we take for granted.

1. Say goodbye to intermediaries - Now that companies have a secure way of transacting with consumers directly, they no longer need to rely on platforms owned by third-parties (like banks) to conduct commerce. This will make companies more self-sufficient, open up the possibility of internal financial departments, as well as making the retail experience more flexible and immediate.
2. Revolutionizing healthcare - Blockchain gives patients more control over their sensitive medical information, a hospital’s ability to streamline and share it, and everybody’s ability to protect it. Indeed, this much is true for any industry involved in compiling and distributing sensitive information about individuals between practitioners or departments.
3. Employee compensation - Blockchain will make it easier to pay employees, and circumvent costly fees often associated with paying teams that work overseas. That means that companies will have fewer financial barriers when it comes to international expansion, making it increasingly likely that you’ll work with people and departments from all over the world.
4. Enhanced democracy - Even good governments are prone to corruption, rigged voting, and an ultimate disillusion of democracy in the eyes of its citizens. Blockchain potentially allows us the ability to vote in a manner that’s impervious to outside meddling or the influence of corruption.

 

listings above are snippets from this article

 

A few practical examples that might possibly occur as a result of blockchain technology:

* Businesses and/or individual citizens won't have to have checking accounts at banks.  Or perhaps they will have one that is used much. much less.

* Businesses can hire employees from overseas with much less hassle.

* Consumers can buy direct from companies anywhere in the world without having to use  Amazon.com or Ebay.com or Alibaba.com or whatever.

* Worldwide black market commerce may become more accessible to everyone across the globe - no longer have to deal with local drug dealers.

* Tax evaders will be able to successfully hide money from all governments to a certain extent

* Certain types of crimes will diminish across the globe

* New types of crimes will spring into existence across the globe.

 

 

You aren't likely to get a good comprehensive answer to that question here on this forum.   If you really want to imagine all the different ways it is going to change things, you need to do some searching and reading via Google or another search engine.

 

There are so many things that could change from blockchain technology it is impossible to think of them all and list them all.   They are too numerous.

 

I predict that at some point (probably way,way down the road) some country's citizens (maybe even the USA) will have a Federal crypto account much like their social security number.  This account will be part of the national blockchain that the government can keep track of resources with.    Some really high taxed liberal country like Finland would be more likely to enact something like this because those people trust their government far more than citizens here trust theirs. 

 

It is very likely that blockchain technology is going to cause a secondary change in some way in society far beyond what anyone is imagining is going to happen - much like how the internet has changed and continues to change the way media is delivered to homes in America.   I doubt many people envisioned "cord cutting" as being something the internet was going to cause way back when the internet was in its infancy.    The biggest changes blockchain causes will be those types of changes that occur over decades in my opinion.   And we won't know it until it starts happening.

Edited March 14, 2018 by PolishDave

[TheElectricCompany]

Thanks Polish, appreciate all the info.

 

I've built my career in high tech and I've lost track of all the products and services I've dealt with that will "revolutionize the world" and nothing comes of it. 

 

"Cannot be altered"...., I am skeptical of this absolute. Tech is changing exponentially, mankind does not respond that quickly. With the crazy advancements that are happening in fields like semiconductors and machine learning, and new realities like large scale malicious botnets, not sure how long will we able to say that. 

Edited March 14, 2018 by TheElectricCompany

[PolishDave]

1 minute ago, TheElectricCompany said:

Thanks Polish, appreciate all the info.

I've built my career in high tech and I've lost track of all the products and services I've dealt with that will "revolutionize the world" and nothing comes of it. 

"Cannot be altered"...., I am skeptical of this absolute. Tech is changing is exponentially. With the crazy advancements that are happening in fields like semiconductors and machine learning and new realities like large scale malicious botnets, not sure how long will we able to say that. 

 

Yeah.  Who knows?    Decades out, things are incredibly hard to predict.

 

I suspect artificial intelligence - when they really get good at it - is going to be a major game changer - especially in the hands of bad people.

 

[TheElectricCompany]

Just now, PolishDave said:

 

Yeah.  Who knows?    Decades out, things are incredibly hard to predict.

 

I suspect artificial intelligence - when they really get good at it - is going to be a major game changer - especially in the hands of bad people.

 

It is both the blessing and curse of tech advancements.

New features and benefits that were never perceived possible, but new risks and dangers that never existed prior. 

I am equally terrified and intrigued on how wearables, AR/VR, implantables and nanotech will change society. 

[GoBills808]

Hope everyone who got in at $10K is in for the long haul...swinging like a bull's nutsack right now.

[row_33]

if i made a billion on this i would be in a lifestyle a million miles away form arguing on this thread... that's fo shuuuuuuuuuuuuuuuure

[Foxx]

10 hours ago, GoBills808 said:

Hope everyone who got in at $10K is in for the long haul...swinging like a bull's nutsack right now.

the market has certainly walked sideways since it's high in Dec/Jan. it has a certain aroma of manipulation to it.

[row_33]

10 minutes ago, Foxx said:

the market has certainly walked sideways since it's high in Dec/Jan. it has a certain aroma of manipulation to it.

 

DUH

 

it's best to get in on pyramids during the founding only, late in the game is a disaster

 

[Foxx]

1 minute ago, row_33 said:

 

DUH

 

it's best to get in on pyramids during the founding only, late in the game is a disaster

 

your funny row. still harboring those feelings of FOMO it seems.

 

you think it is a pyramid, i believe it is a movement. apparently never the 'twain shall meet. 

 

there is a great amount of ammunition to support my belief it isn't funny. 

[row_33]

11 minutes ago, Foxx said:

your funny row. still harboring those feelings of FOMO it seems.

 

you think it is a pyramid, i believe it is a movement. apparently never the 'twain shall meet. 

 

there is a great amount of ammunition to support my belief it isn't funny. 

 

 

i have a former co-worker who was there before it started becoming public, selling hard drives and parts for large markups for people to use for mining

 

and he bought bitcoin at the start so he must have made a bundle when it skyrocketed

 

he's now onto blockchain stuff and doing well

 

i don't miss him but he was the type that was going to build a fortune by himself.... 

 

 

 

 

you need a few like that in your life to see the price paid to make a fortune, see if you really want to pay that price...

 

not a chance... 

[Foxx]

3 minutes ago, row_33 said:

 

 

i have a former co-worker who was there before it started becoming public, selling hard drives and parts for large markups for people to use for mining

 

and he bought bitcoin at the start so he must have made a bundle when it skyrocketed

 

he's now onto blockchain stuff and doing well

 

i don't miss him but he was the type that was going to build a fortune by himself.... 

 

 

 

 

yeah, i remember you talking about your friend previously in this thread.

 

i still believe we are on the ground floor of this thing. however it isn't going to last much longer. i do have to admit to it going sideways for a bit longer than i thought the current phase of consolidation would take originally.

Edited March 20, 2018 by Foxx

[Foxx]

as for my manipulation comment, here is an interesting chart...

 

 

 

https://imgur.com/a/FEd2W

Edited March 20, 2018 by Foxx

[row_33]

47 minutes ago, Foxx said:

yeah, i remember you talking about your friend previously in this thread.

 

i still believe we are on the ground floor of this thing. however it isn't going to last much longer. i do have to admit to it going sideways for a bit longer than i thought the current phase of consolidation would take originally.

 

it looks like it has matured, so all the crooks and mob and other baddies are well into and using it for illegal purposes and may clean it out totally

 

if it is a gradual theft it will be worse in the long run than waking up one morning and the cupboard is bare.

 

[Foxx]

3 minutes ago, row_33 said:

 

it looks like it has matured, so all the crooks and mob and other baddies are well into and using it for illegal purposes and may clean it out totally

 

if it is a gradual theft it will be worse in the long run than waking up one morning and the cupboard is bare.

 

speaking of crooks....on the bright side, Goldman Saks bought the exchange Poloniex not long ago.

 

this is another sign that tells me it is part and parcel of the early days of a movement and not what some might term a pyramid (in the traditional sense).

 

[Jauronimo]

On ‎3‎/‎20‎/‎2018 at 10:28 AM, row_33 said:

 

it looks like it has matured, so all the crooks and mob and other baddies are well into and using it for illegal purposes and may clean it out totally

 

if it is a gradual theft it will be worse in the long run than waking up one morning and the cupboard is bare.

 

You think one day we will wake up and all the bitcoins will be gone?  The vault will be empty?

[Mr Info]

Dorsey expects bitcoin to be world's currency in 10 years.

 

https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years.html

[row_33]

46 minutes ago, Mr Info said:

Dorsey expects bitcoin to be world's currency in 10 years.

 

https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years.html

 

i'll listen if he wagers his left nut on the chopping block

 

 

[plenzmd1]

I have registered to get info on the Coinbase Index Fund, looks like it has not started trading yet. 

 

2% management fee seems like a lot for only having 4 assets in the fund. Quarterly withdrawals too, with at least 30 days notice. Guess that a big reason one must be an accredited investor. I see the requirements for that, but is there a process one must go through to get accredited?

Edited March 21, 2018 by plenzmd1

[Foxx]

22 minutes ago, plenzmd1 said:

I have registered to get info on the Coinbase Index Fund, looks like it has not started trading yet. 

 

2% management fee seems like a lot for only having 4 assets in the fund. Quarterly withdrawals too, with at least 30 days notice. Guess that a big reason one must be an accredited investor. I see the requirements for that, but is there a process one must go through to get accredited?

in the US,  you simply have to prove that you made $200k for the past two years and that you expect that threshold to continue. if you are married, the threshold is $300k.

Edited March 21, 2018 by Foxx