Message from deavmi in Willem Petzer Live Chat #crypto-stories
With @Daniebees and the other guy from I think NZ I had a good talk here about Bitcoin.
I think I understand it better now and would appreciate correcting my understanding below:
Bitcoin is a type of IP, which can't be copied. Each coin is unique. The coins are generated using an algorism. Each time a coin is generated it takes more computer power to generate the new coin. There is a limit to the amount of coins that can be generated. People value it because of its underlying technology blockchain, which make peer-to-peer transactions possible thus avoiding 3rd parties that can take money from you. The value of the coin depends supply and demand.
The Blockchain system can be used apart from Bitcoin to make transactions between two people using any commodity. I am more at ease with this idea. See: https://mises.org/library/how-blockchain-and-gold-can-work-together
nice drop back to 7800
but i'm still not long
Ripple Long Term => 800 -1200 %, Stellar Long Term => 400%
Added an extra 10k today into ripple and stellar. Holding long term. No more short term trades on them. Good luck everyone...
Lots of alts on sale today...
Wouldnt touch ALTs for another month
quite risky atm yes, seems to dump whether bitcoin goes up or down, btc sideways also not fuelling alts as previously
can change quickly though
XRP very nice.. made 11% profit since yesterday... and is still growing... 20% short term.... holding thumbs...
Tjoppie did you at least lock in some profits on that pump before it dumped?
Not much but at least something.
Bitconnect is bae
Yeah I don't really agree with Schiff. He says Gold has value but Bitcoin (or any other digital asset) does not because the scarcity is artificial. It doesn't matter that it's artificial. What makes crypto better than gold is that it can be a store of value AND is fungible AND everything else the blockchain (or other DLTs) is useful for. Gold is not fungible at all and has nothing else going for it but being a store of value. He is a good speaker but he's spoken a lot of kak in the past, too, about stocks and forex. The crypto crowd there is just a lame bunch.
Bitcoin is only the flagship crypto and by no means is it perfect; something better will come along. (Actually is here already but I don't want to start a altcoin shilling war).
PSchiff is heavily invested in Gold/Silver, btw.
Crypto hype is a zeal without knowledge.
Blockchain = baby
Crypto = bathwater Ponzi scheme
Money = scarce physical commodity like gold
Crypto = fake scarce intellectuall thing
hype is hype regardless of underlying asset.
Bitcoin is terribly flawed but it set in motion an idea that can never be extinguished.
Hope people listened to my altcoin warning
Jip just in time...
Jis crypto Frikkies!
Net nou die dag toe gons internet van die "Triple Bottom".
Is ons nou in 'n "Quadruple Bottom"? 😂
2de bottom was fake 😂
Just set up my wallet, still figuring this out. If anyone would like to help me test, send me something 😃 38MJFaQsiXv3Du9G1eJJ11kWuqSBVPcRBM
Hopefully am doing this right, still a complete newbie to this stuff.
How do people usually get donations via bitcoin by the way? Just link the address or some sort of url link?
just the address. they can use what ever means they want to make the donation.