Wow. Bitcoin is almost $1,500

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C

Crono

Lifer
Aug 8, 2001
23,720
1,501
136
JSt0rm said:
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.
Click to expand...

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. :p
 
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JSt0rm

JSt0rm

Lifer
Sep 5, 2000
27,399
3,947
126
Crono said:
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. :p
Click to expand...

sounds like penny stocks to me.
 
C

Crono

Lifer
Aug 8, 2001
23,720
1,501
136
JSt0rm said:
sounds like penny stocks to me.
Click to expand...

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.
 
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Zeze

Zeze

Lifer
Mar 4, 2011
11,112
1,022
126
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
 
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C

Crono

Lifer
Aug 8, 2001
23,720
1,501
136
Zeze said:
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
Click to expand...

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

Zeze

Lifer
Mar 4, 2011
11,112
1,022
126
Crono said:
Not a fan of FOMO push, but it's certainly more interesting to have some skin in the game, as they say.
Click to expand...

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.
 
D

DaveSimmons

Elite Member
Aug 12, 2001
40,730
670
126
Zeze said:
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
Click to expand...

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.
 
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Ns1

Ns1

No Lifer
Jun 17, 2001
55,413
1,570
126
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.
Click to expand...

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

ponyo

Lifer
Feb 14, 2002
19,689
2,811
126
Zeze said:
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.
Click to expand...
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.
 
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ponyo

ponyo

Lifer
Feb 14, 2002
19,689
2,811
126
DaveSimmons said:
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.
Click to expand...
10 folds? Most cryptos crushed that last year.
 
Skunk-Works

Skunk-Works

Senior member
Jun 29, 2016
983
328
91
I haven't read this entire thread. Are the prices of GPUs going down now? LOL I heard this Bitcoin mining bubble burst.
 
T

TeeJay1952

Golden Member
May 28, 2004
1,540
191
106
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.
 
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Charmonium

Charmonium

Diamond Member
May 15, 2015
8,934
2,446
136
TeeJay1952 said:
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.
Click to expand...
Shoutout to all the BOINC'ers. May your core temps be low and your point totals high.
 
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Red Storm

Red Storm

Lifer
Oct 2, 2005
14,233
234
106
TeeJay1952 said:
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.
Click to expand...
Asking people to be charitable vs. people seeing an opportunity to make extra money for themselves. There is nothing shocking about it.
 
Red Squirrel

Red Squirrel

No Lifer
May 24, 2003
67,371
12,124
126
www.anyf.ca
Maybe when mining is no longer profitable people will start pointing their rigs to F@H. :p 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.
 
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AdamK47

AdamK47

Lifer
Oct 9, 1999
15,215
2,839
126
I truly hope mining does soon become unprofitable. My opinion of miners is... less than flattering.
 
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Ns1

Ns1

No Lifer
Jun 17, 2001
55,413
1,570
126
TeeJay1952 said:
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.
Click to expand...

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...
 
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destrekor

destrekor

Lifer
Nov 18, 2005
28,799
359
126
Red Squirrel said:
Maybe when mining is no longer profitable people will start pointing their rigs to F@H. :p 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.
Click to expand...

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

Crono

Lifer
Aug 8, 2001
23,720
1,501
136
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:

 
Last edited:
DrMrLordX

DrMrLordX

Lifer
Apr 27, 2000
21,629
10,841
136
Nice to see that Etherington has spent so much time researching cryptocurrency and its potential benefits.​
 
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