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Cryptocurrency Thread

    • la55i
      la55i
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      Joined: 27.01.2013 Posts: 7,952
      Many of you are interested in Cryptocurrencies, so why not have a discussion about it here at PokerStrategy :f_thumbsup:
      In this thread you can talk about Cryptos, share tips, ask questions and so on...

      So, what do you think? Is bitcoin a bubble? Has it burst already? What is the future or other cryptocurrencies? Where would you invest right now?
  • 29 replies
    • Alleen86
      Alleen86
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      Joined: 27.05.2010 Posts: 5,334
      Thanks for the thread!

      I think it's definitelly something to watch closely and try to profit from it (mostly long-term) because we are still at the beginning of krypto-era. As the current situation is concerned, I would quote my blog post. I wouldn't buy a Bitcoin at the moment because when you look at a graph of it in last couple of months (actually, when you look at graphs of most of the cryptocurencies), you can see that the values increased almost exponentialy, so it's definitelly a bubble, I would say. It happend allready in the past. I believe the realistic value of a bitcoin is not more than 1,5k USD atm. The similar thing is with Ethereum. I don't believe it worths more than 100 USD. All those increases in market values happened because of higher trading volumes, not because of higher values. So, I think it's best to wait a couple of months when the prices become somewhat realistic. I will definitelly wait for now and try to get as much information about kryptos and all the stuff around it as I could.

      Also, from what I've learnt so far, the best way to invest is to spread your investments through couple of different cryptocurrencies, to reduce risk. I plan to invest most into Ethereum and Bitcoin, because I think those are pretty safe bets long-term. Some predictions are even that the value of a Bitcoin will reach 1 million USD by 2020 (it's 13k now).
    • rompas
      rompas
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      Good thread, looking forward to read thoughts and ideas from others about this :f_thumbsup:
    • Hesticus
      Hesticus
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      Joined: 24.06.2008 Posts: 2,998
      Interesting thread! With my study, many people are involved with crypto currencies. I, on the other hand, don't think you should invest long term since this is technology, which is changing vastly. Have you guys read that the accountancy firm PwC now accepts Bitcoin?
    • Xander188
      Xander188
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      Joined: 11.11.2010 Posts: 560
      I don't think bitcoin is still a good idea to invest in, that is past now, countries already start to implement restrictions against it and other cryptocurrency. After all, for now at least, cryptocurrency is not backed by anything and I have a feeling banks/big corporations don't like it so they will try to bring it down.

      It may be that this is the way of the future but I think there is still a long way to go.
    • la55i
      la55i
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      One thing I don't get is why some companies would want to accept bitcoin as payment. The value changes so much so fast that it is quite risky for them. Or do they cash it out immediately?
    • Hesticus
      Hesticus
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      Joined: 24.06.2008 Posts: 2,998
      True, I was talking about the acceptance of bitcoin at my internship a little bit. The problem is that it costs around $17-$27 per transaction and Bitcoin is able to have 3 or 4 transactions per second, which is much less than Visa and especially Mastercard. This means that population transactions wouldn't work. However, the interesting thing of course is, when there will become new laws and regulations that cause the size of bitcoin transactions to be increased, it would be able to handle many more transaction per second. Then the coin can indeed rise in value. That's why I find it interesting that companies such as PwC accept bitcoin because I believe corporations still call the shots and they could enforce these laws and regulations.
      I don't think they cash it out immediately, I find it very strange that corporations accept bitcoins. Perhaps they want to show dominance or influence how this coin is going to develop?
    • rompas
      rompas
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      So much i dont understand about this topic as i only recently took the time and trying to take a deeper look ,, but with the big downswing at crypto markets right now i guess for those that belive this is the future now is a good time to buy ? :f_ugly:

      Hesticus with alterative coins like bitcoin cash isn't that a way by the crypto world to create a better and faster way to do transaction?
    • Hesticus
      Hesticus
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      Joined: 24.06.2008 Posts: 2,998
      It's very hard to tell, I'm still not buying but think I will also go deeper into this topic after finishing my thesis.

      I believe that is the idea to make better, safer and faster transactions. We will have to deal with many laws and regulations and safety issues. But I don't know much more about it :)
    • Alleen86
      Alleen86
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      Joined: 27.05.2010 Posts: 5,334
      Guys, what do you think about this new cryptocurrency poker room which ICO started earlier today (not sure is it allowed to post the name, but you will google it very easily)? Pre-ICO was sold very quickly and also ICO started quite well. They obviously invest alot of money and time into marketing (it's all over the crypto-related web). It looks interesting because the tokens you get by investing into ICO will be used as playing currency on the room, as long with being listed into exchanges in February. Also, anybody who will want to play there, will have to buy the coin to be able to play. So, the coin is one of the rare ones that will immediately have its use, which could potentionally lead to increases of its market value. Now the value of 1 coin is somewhere around 0,25-0,30 USD if you buy it during ICO. It would be funny if one day you play limits of 1/2 coins, which would be 0,30/0,60 in USD and then when the value of a coin increases, you will play 1/2 in coins, but that could be like 200/400 in USD. :D I'm not sure how will they manage the limits offered considering the changing value of a coin... :f_eek: (To be honest, it's probebly somewhere in the whitepaper, but I'm too lazy to read it).
    • rompas
      rompas
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      not sure what to think really about all those ICO that companys doing now, my logic says they all cant make it a success and alot of people will lose their money.... :f_rolleyes:
    • Hesticus
      Hesticus
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      It could be that companies have it kind of fixed somehow? That they a premium over the fluctuation. However, it can fluctuate quite a lot so not sure how they manage haha
    • Alleen86
      Alleen86
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      During ICO's companies get the "real" money or some of more stable cryptos (like Bitcoin or Ethereum), which they probably exchange for the "real" money anyway. In esense, they get the capital that way, just like "real" companies get the capital through IPO's when they sell their shares. Good portion of the money collected during ICO's goes to the owners of the project so they actually don't take any risk because they have the "real" money and investors get their coins (which might worth nothing in case the project fails). With the fact that ICO's are not as (or maybe not at all) regulated as IPO's, project owners actually might just take the money and run, without much (or any) concequences. I read somehwere that 95% ICO projects don't succeed. The catch is that 5% of them succeed and the demand for their coins increases, so in some cases you might, for example, buy coins for 0,05 USD/coin during ICO and in a year or two they worth 500 USD/coin and if you invested 100 USD, you become a millionare. :f_biggrin:
    • Hesticus
      Hesticus
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      Nice analysis dude! :f_thumbsup:
    • rompas
      rompas
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      Bitcoin still falling and falling,, where you guys think it will end? :f_rolleyes:
    • la55i
      la55i
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      Probably gonna end when it hits 2$ :pcuser:
    • Alleen86
      Alleen86
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      I think it might fall alot this year, because of the bubble that happened at the end of the last year, maybe even to something like $500 because when you look at its graph, it seems like a realistic value atm. I definitelly wouldn't buy it now, unless you want to trade day-by-day with it and earn through big fluctuations of its market price. If that happened, I will probably buy some amounts of bitcoin, ethereum and some others, expecting those bubbles to happen again, and also expecting their values to increase long-term.
    • sdf256
      sdf256
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      What do you guys think about Maidsafecoin?
    • LemOn36
      LemOn36
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      I bought $7 of SexCoin
      And now I have $1.90 worth of SexCoin
    • SDK1987
      SDK1987
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      What a funky name for a coin, but in same case the value of the coins will increase soon.
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