Blockchain Revolution: from the internet of information to the internet of value

[Shyheels]

I think there will be bear market in crypto well before 2020

[kneehighs]

When the period of crazy gains ends (won't go on forever), that's when I will sell. And short. Right now, and subject to new info, my best guesstimate is for that to happen around 4/19 - 4/20.

[alphax]

@kneehighs
I hope you have at least sold a bit of your portfolio to recoup your initial expense, plus a decent profit.

[kneehighs]

I hope you did too.

[kneehighs]

With a 100 million active monthly users, and millions in the crypto community, and Trillions from Wall Street ready to pour into crypto in 2018 

and IF they get the User Interface right,

this will be the killer crypto coin of 2018 IF this is true

Telegram starts a coin:

http://www.ibtimes.com/new-cryptocurrency-blockchain-platform-coming-telegram-messaging-app-report-2631984

 

[Shyheels]

Alas it reminds me of one of the great lines in 19th century Yellow Journalism when, reporting on some foreign disaster, the newspaper (can't recall the name) qualified its own story with the caveat, this report, if true would mean that...

So much is hanging in the air here...

Edited December 24, 2017 by Shyheels

[alphax]

@kneehighs
With what you're posting, it's like you're trying to convince yourself as much as us.

 

[kneehighs]

2 hours ago, alphax said:

@kneehighs
With what you're posting, it's like you're trying to convince yourself as much as us.

 

Not at all.  But you will believe what you want to believe.

[Shyheels]

There are some good points raised here:

http://www.independent.co.uk/news/business/news/trading-cryptocurrencies-means-you-are-probably-doing-business-with-a-crook-a8125181.html

[kneehighs]

My 2 satoshis about Blackhurst's hit piece:

1. I agree financial literacy such as required by the US Series 7 and 63 would be useful in general education.
2. He clearly has financial Stockholm Syndrome, "<Bitcoin>...has no government or central bank behind it to intervene in a crisis." Derivatives lessons on the Housing crisis anyone?
3. Who is Blackhurst trying to financially woo?

List of anti Bitcoin articles from a PRO bitcoin site:  https://99bitcoins.com/bitcoinobituaries/ 

And yet, Goldman Sachs is opening up a crypto currency trading desk:

https://www.bloomberg.com/news/articles/2017-12-21/goldman-is-said-to-be-building-a-cryptocurrency-trading-desk

Edited December 27, 2017 by kneehighs

[Shyheels]

And look where greed has gotten Goldman Sachs in the past...

[kneehighs]

On 12/20/2017 at 1:40 PM, kneehighs said:

Where else can you 10x your money in one week?   (not an exaggeration)

So far, my favorite pick for the "next bitcoin" is Ripple.  It's like bitcoin for banks.  Enables real time cross border transactions for banks with low fees 24/7.

Currently consolidating around 75 cents/share.  It'll take some patience, but it's a solid organization.

https://www.reddit.com/r/Ripple/

https://coinmarketcap.com/currencies/ripple/

 

 

By no means am I an expert, but if one speculated with just 1,000 euros in Ripple on 12/20 when I called this, it would now be worth 2337 euros today.  Over a 2x return in 9 days. Ripple = Stable crypto for big banks.

I'm going to make the call now on the great hero crypto of 2018.  On this same day on 12.29.18, I will revisit (assuming i'm alive): ICON, otherwise known as ICX.  https://www.icon.foundation/en/.  Oversimplified:

• ICON is the Ethereum of South Korea.  
• It's started by a Korean Fintech Group: Dayli Financial Group, currently valued at 4 billion.  Dayli owns CoinOne, a Korean crypto exchange
• The team is 31 strong, all with track records with top Korean companies and/or educations from top Korean Univ's.  15 are blockchain developers, 6 are founders from Dayli...
• TheLOOP,  it's enterprise blockchain has been in development for 2 years now.  The partnerships are legally binding, not just working relationships, with 25 securities firms and also include Samsung, Kyobo, and Meritz.  The point? It's fully enterprise ready with proven commercial applications. 
• South Korea is the 11th largest economy in the world, and third larges in crypto trading volume.  As of now, there is no way to convert WON to ICX, requiring Koreans to undergo a complex trading strategy to acquire ICX at a loss.  Korean exchanges will no doubt carry ICX when it's mainnet goes live on 1/24.  3/10 Koreans in the workplace invest in crypto.
• On 1/24 mainnet will go live.  On 1/31 at their annual summit meeting, they will demo DAPPS (decentralized apps that won't clog the systems like Crypto Kitties did with Ethereum).
• This will take on nationalist pride, as South Koreans are an extremely hard working and disciplined nation, not to be outdone by China or Japan.  

This is not financial advice.  Do your own research DYOR.  (though I doubt many readers here are speculating on crypto).

 

 

[Shyheels]

I think you probably have the crypto field all to yourself here on HHP, or nearly so at any rate. 

South Korea is also bordered by North Korea, which has a predatory interest in South Korea, crypto, and hacking - all something to consider when contemplating speculating in crypto in a South Korean concern. A little added risk, where none is really called for...

And that’s not the kind of risk that brings heightened rewards. 

[kneehighs]

There may be other bullish crypto enthusiasts lurking here too. I'll be leaving this thread soon though.

Regarding the hack threat, yes it's real. But it's not unique to crypto. They hacked the British Health System computers, the NY Federeal Reserve, etc.

Cold storage for the private investor solves hacking threats.

Happy New Year everyone!

[Shyheels]

Happy new year to you, and safe travels!

[Bubba136]

2017 has been a really strange year. Hope 2018 is better.  Anyway, Happy New Year, everyone!

[Shyheels]

Bitcoin in the news again:

https://www.theguardian.com/uk-news/2017/dec/29/ukraine-kidnappers-release-hostage-after-1m-bitcoin-ransom-paid

For a medium of exchange that promises so much in the way of 'transparency' it seems to find a lot of uses by criminals who want to spirit away illicit gains and for peekaboo financing. 

 

[alphax]

If you substituted the word "cash" for "bitcoin" would you feel any different about cash?

[Shyheels]

That’s just it - you wouldn’t. Cash can’t vanish with the speed of Bitcoin, across the world without a trail or trace in the blink of an eye. 

Edited December 31, 2017 by Shyheels

[kneehighs]

This is so cool:

http://cryptflix.com/

A crypto site that looks like Netflix.

[Shyheels]

You mean fictional? 

Edited January 6, 2018 by Shyheels

[kneehighs]

@shyheels--not sure what you mean?

Netflix and Chill
Cryptflix and Shill (shill = promote a coin one owns)

[Shyheels]

Ah, I get it now. Cool.

[kneehighs]

For what it's worth, the current January dip is a common dip every January in crypto.  It's one of the few predictable things in crypto.  Sincerely, the faster I can get FIAT into crypto, the better off I'll be shorting next January's dip.

[Shyheels]

Is the suspending of trading on exchanges, hard governmental scrutiny, and talk of tightening regulation also features of all of regular seasonal these January dips?  

[kneehighs]

Par for the course that involves emerging technology that threatens government and bank control over the money supply.  

[Shyheels]

There is something about this whole bitcoin/crypto thing that smacks of angry youth, rebellion, student bedsits and posters on the wall of Che.

I notice though that the 'real' value of crypto is measured in real currencies - US dollars, mainly - and redeemed for them when one wants to collect one's real profits.

It seems there is real money and there is crypto. 

[kneehighs]

Depends on how you define "real".  Back in the days of barter, one would barter a loaf or bread for some milk.  But if the farmer didn't need bread, then what?  So tokens were invented to facilitate trades of goods and services.  The same goes for crypto.  It's invented to facilitate trades of goods and services on an international scale.  Crypto is just the next stage in evolutionary currency. 

bread: token

token: crypto

[Shyheels]

Still, the most common measure of Bitcoin’s value is US dollars. The dollar defines its worth. That is it’s ultimate reality. 

Edited January 25, 2018 by Shyheels

[kneehighs]

Depends on how you define "ultimate".  When new tokens were first introduced during the barter age, it took time for people to agree to a tokens value.  So the same with crypto. 

Do you have a source for your statement "the most common measure of Bitcoin's value is US Dollars?"  Unlike yourself, I offer the following data that proves that the Japanese Yen actually holds more trading volume than the USD.  https://www.cryptocompare.com/coins/btc/analysis/USD

Further, if the most common measure of value just happened to be a loaf of bread during the barter era, that didn't ultimately affect the value of the new token.