Cryptocurrency Thread

Here is the chart for the past month:
https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1M

Looks like it hasn't to much impact so far.

Originally posted by VorpalF2F
Here is the chart for the past month:
https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1M/blockquote >
Looks like it's even increased the last month. That is interesting.

Warren Buffet is the epitome of the classical investor — buy assets that continually make money, and hold them long term.
So pretty much the opposite of bitcoin.

Here is what he had to say about the matter:
https://www.cnbc.com/2022/04/30/warren-buffett-gives-his-most-expansive-explanation-for-why-he-doesnt-believe-in-bitcoin.html

an interesting negative view of crypto
https://www.currentaffairs.org/2022/05/why-this-computer-scientist-says-all-cryptocurrency-should-die-in-a-fire/

Originally posted by VorpalF2F
an interesting negative view of crypto
https://www.currentaffairs.org/2022/05/why-this-computer-scientist-says-all-cryptocurrency-should-die-in-a-fire//blockquote >

Skimmed through it, looks like quite basic and uninformed criticisms. He doesn't get how Bitcoin incentivizes energy production, how Bitcoin and "crypto" are not the same, how Bitcoin is not supposed to be a transactional layer for all of the world's transactions, etc.

Originally posted by Scaletta

Originally posted by VorpalF2F
an interesting negative view of crypto
https://www.currentaffairs.org/2022/05/why-this-computer-scientist-says-all-cryptocurrency-should-die-in-a-fire//blockquote >

Skimmed through it, looks like quite basic and uninformed criticisms. He doesn't get how Bitcoin incentivizes energy production, how Bitcoin and "crypto" are not the same, how Bitcoin is not supposed to be a transactional layer for all of the world's transactions, etc.

However he does understand that rather than "incentivizing" energy production, it incurs a fierce energy cost.
Can you explain in simple terms what is the value behind Bitcoin — or any crypto currency?
It has no intrinsic value, and it can evaporate pretty much instantly.

Note that I hold several crypto currencies in modest amounts, but I would not keep a lot there.

Another interesting article.
I would love to have a link to the original paper though.
https://www.zdnet.com/finance/blockchain/the-paper-that-just-blew-up-bitcoins-claim-to-anonymity/

Edit: Here is the link — note that it is to a pdf https://aidenlab.org/bitcoin.pdf

https://www.xe.com/currencycharts/?from=BTC&to=USD

Still trending down.
Now might actually be a time to buy in small quantities over the next several months.

I won't be, since I do not see that it has any real value.

Still dropping, but the drop is slowing...
https://www.xe.com/currencycharts/?from=BTC&to=USD&view=1W

<>

Is it stabilizing — or is this a dead cat bounce?

Hey guys!

I have a question I think should fit here.

So I started to play with the following idea: I used to be a programmer, not a world-class one, but I can do small projects if I really want to. I haven't done my field research yet, so if anything I say is bullshit, sorry for that. Forex bots are legal, and I know there are services and stuff like that for it, but my first assumption is if that would be such a reliable and easy income, everybody would do this. This lead me to three assumptions:
It's either
- too expensive to get in;
-too high service costs to profit well;
-too marginal profits;
or any combination of these.

So my theory is that if I'm able to build an algorithm that can make micro currency exchanges following a predefined set of criterias that runs on my Raspberry Pi, my costs would be only the power my Raspberry needs and the time I invested in research and programming. My idea is to make small profits on humanly impossible amount of microtrades using 3 or more currencies and the changes between their transitive rates.

I only expect really small profit from this, so no high hopes, but if I can do it in reasonable time as my little fun project, and it will make only that much it pays for my electricity bills, it's worth it.

My question is, would you try something like this rather in traditional currencies or with crypto's? I can see pro's and cons in both, so I would really appreciate your thoughts about it, and about the theory in general.

Assuming the bots have very small edges, you need to make sufficient volume to overcome the brokerage fees.
Like you say, if it was that easy, everyone would do it.

Best of luck

Recovered a bit this week

Originally posted by VorpalF2F
what is the value behind Bitcoin

There are many value propositions for Bitcoin, but the core 2 in my opinion are:
1) For bitcoin the cryptocurrency - A trustless, decentralized, worldwide monetary system with fixed rules
2) For Bitcoin the network - Facilitates the enforcement of those rules, the issuance of new coins and transactions made in the currency

Originally posted by Scaletta

Originally posted by VorpalF2F
what is the value behind Bitcoin

There are many value propositions for Bitcoin, but the core 2 in my opinion are:
1) For bitcoin the cryptocurrency - A trustless, decentralized, worldwide monetary system with fixed rules
2) For Bitcoin the network - Facilitates the enforcement of those rules, the issuance of new coins and transactions made in the currency

Yup, I get that.
If any malicious entity gains control of the network, all is lost.
The value of anything only exists if someone wants it.
Even gold — which is so highly valued by many — is just so much weight if nobody wants it. Gold at least has a purpose for use in electronics.
Fiat currency carries the promise of its issuer to pay the stated value.
Crypo currencies have no such promise.

Seems to have stabilized somewhat at around 20K

only and big value of BTC is that it is alternative to bankers-stealers money system that is all