Wow. Bitcoin is almost $1,500

[Crono]

but software has a real use. It is proprietary code at the end of the day. A bit coin is just something you will transfer into dollars at some point in the future.

Ethereum and other cryptocurrencies with smart contracts are software. Yes, you can view cryptocurrencies as network/payment protocols, but they can and are being used to run platforms from IoT to AI and prediction markets.

And CryptoKitties. Let's not forget CryptoKitties.

 

[JSt0rm]

Ethereum and other cryptocurrencies with smart contracts are software. Yes, you can view cryptocurrencies as network/payment protocols, but they can and are being used to run platforms from IoT to AI and prediction markets.

And CryptoKitties. Let's not forget CryptoKitties.

sounds like penny stocks to me.

 

[Crono]

sounds like penny stocks to me.

Penny stocks don't run software platforms or apps. If that's what it sounds like to you, you may want to actually try using cryptocurrencies and follow development than dismissing it out of hand.

People here who are comparing cryptocurrencies to tulips, beanie babies, etc are focusing on the speculative side which, to be fair, was and is overheated. Aside from that, though, what blockchains are doing is akin to the development of the early network protocols that gave rise to the Internet and World Wide Web today. 20-30 years ago there were just as many skeptics focusing on the negatives... which is fine, you can be correct about the negatives, but at the same time it's better to take a more comprehensive approach if you really want to understand whats going on.

 

[Zeze]

If you don't have any money in blockchain i think youre seriously missing out.

Like really insane. Even if you don't believe in it, spend some of your weekend money in it.

It'll grow big in years.

If not and all falls apart, well the odds were very well worth it

 

[Crono]

If you don't have any money in blockchain i think youre seriously missing out.

Like really insane. Even if you don't believe in it, spend some of your weekend money in it.

It'll grow big in years.

If not and all falls apart, well the odds were very well worth it

Not a fan of FOMO push, but it's certainly more interesting to have some skin in the game, as they say.

 

[Zeze]

Not a fan of FOMO push, but it's certainly more interesting to have some skin in the game, as they say.

Mere 2 mos of crypto gave me iron balls.

Wall St is a joke and boring now, esp all the recent dip. Oh no it went down few pts. Lol.

But then, if you invest with play money, you are fundamentally at ease crypto or stocks.

 

[DaveSimmons]

If you don't have any money in blockchain i think youre seriously missing out.

Like really insane. Even if you don't believe in it, spend some of your weekend money in it.

It'll grow big in years.

If not and all falls apart, well the odds were very well worth it

It still seems lose-lose to me.

If you put a significant amount of money into it, you have a very high risk of losing that significant amount of money.

If you put an insignificant amount into it, even if it grows 10-fold (which seems unlikely in the long term) you still haven't made enough to matter.

If I put $10,000 into an S&P 500 fund, then unless we end up in a Mad Max future I have a near-certain chance of having a nice multiple of that in a couple of decades. If I put $10,000 into specu-coins, I'll have (to guess some numbers) a 5% chance of $100,000 and a 95% chance at $0.

Like I said earlier, if you like to spend money "investing" as a hobby like fishing or golf or poker in Vegas, then you can budget X dollars to lose on your hobby just like buying golf clubs. That's the only time very risky investments like crypto make sense to me.

 

[Ns1]

If you put an insignificant amount into it, even if it grows 10-fold (which seems unlikely in the long term) you still haven't made enough to matter.

I think the point is some people have seen their investments grow 100000 fold. And THAT'S why you speculate in crypto.

 

[ponyo]

Mere 2 mos of crypto gave me iron balls.

Wall St is a joke and boring now, esp all the recent dip. Oh no it went down few pts. Lol.

But then, if you invest with play money, you are fundamentally at ease crypto or stocks.

If you think stock market is boring, you haven't played with options. Options require just as big balls if not more and can/will have way bigger swings than crypto.

 

[ponyo]

It still seems lose-lose to me.

If you put a significant amount of money into it, you have a very high risk of losing that significant amount of money.

If you put an insignificant amount into it, even if it grows 10-fold (which seems unlikely in the long term) you still haven't made enough to matter.

If I put $10,000 into an S&P 500 fund, then unless we end up in a Mad Max future I have a near-certain chance of having a nice multiple of that in a couple of decades. If I put $10,000 into specu-coins, I'll have (to guess some numbers) a 5% chance of $100,000 and a 95% chance at $0.

Like I said earlier, if you like to spend money "investing" as a hobby like fishing or golf or poker in Vegas, then you can budget X dollars to lose on your hobby just like buying golf clubs. That's the only time very risky investments like crypto make sense to me.

10 folds? Most cryptos crushed that last year.

 

[manlymatt83]

If you think stock market is boring, you haven't played with options. Options require just as big balls if not more and can/will have way bigger swings than crypto.

Love options! Especially covered calls

 

[Skunk-Works]

I haven't read this entire thread. Are the prices of GPUs going down now? LOL I heard this Bitcoin mining bubble burst.

 

[TeeJay1952]

When asked to share computer downtime for Cancer research or SETI very few answered the call. Now invisible banking stuf and Iceland is running out of electricity and folks can't get puter parts.
Comical and Tragic.

 

[Charmonium]

When asked to share computer downtime for Cancer research or SETI very few answered the call. Now invisible banking stuf and Iceland is running out of electricity and folks can't get puter parts.
Comical and Tragic.

Shoutout to all the BOINC'ers. May your core temps be low and your point totals high.

 

[Red Storm]

When asked to share computer downtime for Cancer research or SETI very few answered the call. Now invisible banking stuf and Iceland is running out of electricity and folks can't get puter parts.
Comical and Tragic.

Asking people to be charitable vs. people seeing an opportunity to make extra money for themselves. There is nothing shocking about it.

 

[Red Squirrel]

Maybe when mining is no longer profitable people will start pointing their rigs to F@H. I think it can use GPUs right? I imagine these services have probably taken a hit from mining.

That, or blender rendering. Actually, would be interesting if there was some kind of cloud service you can subscribe your rig to, where larger scale blender users can "buy" computing power and it would just use all the rigs in the pool and everyone gets a small cut. Could probably even make that work off ethereum smart contracts.

 

[AdamK47]

I truly hope mining does soon become unprofitable. My opinion of miners is... less than flattering.

 

[Ns1]

When asked to share computer downtime for Cancer research or SETI very few answered the call. Now invisible banking stuf and Iceland is running out of electricity and folks can't get puter parts.
Comical and Tragic.

if pharmaceutical companies offered a pro-rata share of cancer drug profits based on how many shares of computation your rigs did to find the cure...

 

[DrMrLordX]

I haven't read this entire thread. Are the prices of GPUs going down now? LOL I heard this Bitcoin mining bubble burst.

People don't mine Bitcoin with GPUs. Bitcoin mining has no direct influence over GPU prices.

 

[destrekor]

Maybe when mining is no longer profitable people will start pointing their rigs to F@H. I think it can use GPUs right? I imagine these services have probably taken a hit from mining.

That, or blender rendering. Actually, would be interesting if there was some kind of cloud service you can subscribe your rig to, where larger scale blender users can "buy" computing power and it would just use all the rigs in the pool and everyone gets a small cut. Could probably even make that work off ethereum smart contracts.

That kind of thing, distributed virtual computing, is exactly what some blockchain projects are hoping to provide.

 

[Crono]

Anyone have a source for full JPM "bitcoin bible"? It was for internal/client access only so I don't know if it's legally republished anywhere, but all I can find are articles with a few pages.

EDIT: doc.ai just put up a new presentation video from their first conference:

 

[ImpulsE69]

Oh sheeet! It's a war between the intangibles.

https://techcrunch.com/2018/02/14/the-search-for-aliens-is-struggling-thanks-to-cryptocurrency-mania/

 

[Red Storm]

Oh sheeet! It's a war between the intangibles.

https://techcrunch.com/2018/02/14/the-search-for-aliens-is-struggling-thanks-to-cryptocurrency-mania/

What a poorly written "article."

 

[DrMrLordX]

Nice to see that Etherington has spent so much time researching cryptocurrency and its potential benefits.​

 

[ImpulsE69]

What a poorly written "article."

Oh come on, it's funny because...