Haha

yeah what happened, everything halved or quartered this week

https://diegorod.github.io/WillMcAfeeEatHisOwnDick/

BLACK COIN WEDNESDAY!

Im a little nauseous with the sudden and spectacular loss of wealth. lol

debating buying in to Aragon...

I would wait a couple days until all the newbees have sold and stop screaming into their pillows.

There are some good values now but I look at the chart over the last 3 months and, well, we are now in correction mode. You can even see where the whales are interveining to stop the freefall of prices.

Would whales intervene, I wonder? @Max White

@ThisIsChris Right now.. yes.. big players want crypto to stay, and old money wants it dead.

@Max White I've been thinking about this a lot, I think it's bitcoin's biggest problem right now. Bitcoin could use a lot of investment in updating the core software. But who will pay for it? The reason I think it is hard is that there is a freerider problem. Whoever doesn't pay get's to rest on the laurels of whoever does pay. No one wants to be the sucker. I don't know if it's obvious which whales would feel obligated to pay up for needed work. Needed work like solving memchache issues or impementing lightning networks or whatever else

I look at it like this..if Bitcoin really open source.. its now expensive to transact.. new platforms will rise. The only thing keeping Bitcoin alive is that so many poeiple have invested in it, mined it, have many coins, and so on. For me, I would never invest in bitcoin now, The new platforms are around the corner. This is like 1995. I remember it well as an old fag

@Max White ah ok that's where you were going with it. I agree! I think there's a lot of potential in the space but I don't know if there's anything for investors to do at the moment.

BTW, did u hear, George Soros invested into blockchain tech this month.

hmm

Blockchain is legit. Now its about who contols it

is he preparing for the far left to be kicked off of major payment platforms? That's what got me into bitcoin

Its the wild west right now

Anything goes

I'm not sure how any of this works. Someone said on here thar BTC was down so maybe buy. I put $100 in and made $13. Wish me dumb beginner's luck. 😅

I am looking at backbone techs. Ethereum, NEO ext. That is the year long bet

Tech that people have to build upon

smart contracts ect

Blockchain is very interesting tech and great speculative tool. However, no one really has any idea whatsoever what the point of it is. I mean, if you run the blockchain network entirely inside a trust boundary (let's say Cardinal Health for medical records) well then you don't need to waste money on blockchain. Just use public/private key infrastrcture. If you run it as it is meant to run, anonymous nodes in the network what possible guarantees you have that the networks will stay up. You can't build a contract on a platform that you can't contract with, sue, insure, etc.

Zero trading fees on Kraken for the rest of January

@eastern.patriarch >what possible guarantees you have that the networks will stay up

You can run a full node yourself to ensure the network stays up. Also, users and holders are incentivized to run nodes to keep the network running.

>if you run the blockchain network entirely inside a trust boundary (let's say Cardinal Health for medical records) well then you don't need to waste money on blockchain.

Of course. The entire point of the blockchain invention is to solve the Byzantine General's problem, setting up a way so that you can trust information shared between untrusted parties.

@ThisIsChris The software developers are already paid by the few largest companies dependent on the crypto networks, like Coinbase and BitPay. Yes, others do get to ride the investment for free, but the big dogs have enough on the line to justify the investment. Just because other people benefit doesn't take away from the benefit experience by the big dogs. And some of the development issues are a result of controversy, not a result of development labor, and instead solved by competing networks, like BCH vs BTC.

@everyone going to make my first IE donation (albeit small) pretty soon, thanks to #cryptocurrency help I've finally started cashing out some of my currency earnings...

Woohoo! Coinbase is working fine now that I made a new bank acct

HODL

@Volkmom nice!

@Tanner - SC , the contention that you can run your own full node to ensure network uptime is in opposition to the block chain purpose - as you said in your second reply. Running mining rigs is like runnig hair dryers and because you are wasting money on colling the room where hair dryers are running you get to give your self some hair dryer coin [HDCs]. The problem it purports to solve just does not exists in the real word. The entire world operates on trust, how could it not? I mean what possible sector of economy could be trust-free. Ok, I suppose you could have a system of BTC to LTC converters (i.e.) that escrows the transaction but what outside block chain is block chain usefull for? Every example is convoluted, a solution looking for a problem.

Note, I said this before but in the interest of full dicslosure: I mine(d) coins since 2012, i speculate in crypto coins, I am not saying people should not be playing with it or making money with it. If you are living in 2003,4,5,6 you might as well speculate in the housing market. I am just saying that probably not every home is going to be worth 1 billion dollars so don't put your savings at risk because there is a bunch of uncertanty.

Nodes and miners are not the same thing. You can run a node without mining.

The problem it solves does exist in the real world. What application outside of currency is block chain useful for? I don’t know, I don’t spend much time thinking about that, but blockchain tech is very useful for the application of a competing currency.

What are you all finding the average mining cut is when donating bitcoin to IE or another group etc?

I don't know, but Bitcoin has retardedly high fees

@Tanner - SC blockchain decentralizes things. so anything you can think of on the internet can be done in this way. first two things past bitcoin that have had moderate success is a blockchain based social media and, in the word right now, a blockchain ISP.