How's cryptocurrency looking now?

DrDisFunkShunAll · Post by **DrDisFunkShunAll** » Sun Jun 24, 2018 12:17 pm

Bah,

The core of bitcoin remains, but with an unprecedented vast amount of growth, interest, and investment ($$$), options are in demand for blockchain 2.0, 3.0, etc. What's wrong with that?

You have --a choice-- to stay with the original, if it later morphs because of overwhelming demand.

Like Ethereum Classic (ETC) which has been killing it lately ... even in this down market.

Now, the devil is in the details, since it seems you want to be a Kammekor-for-life: let me explain.

There is a BIG difference between crying, "The sky is falling, the sky is falling!!" and a more weathered approach of saying, "This rain, too, will pass., it always does at the end of rainy season."

That's what the well-named other Doktor_D wrote about. "Anyone with more than 6 months in the crypto market," to paraphrase.

C'mon, anyone with half a brain is doing it. Look at big names exploring and researching crypto now.

Soon, much like PP in the old days before big(ger) money arrived, the crypto market will be swamped with investors, clogging up (Lucky) markets and paying for lights on the highways.

Intelligent, independent traders will get squeezed out, and made to conform to their norm, which has been making people groan since the richer investors arrived.

We're trying to --inform you-- about the upcoming change in certain (not all) markets — much like the Phnomenon of the Penh.

In this case, the fear of missing out is riel!

Yes, you still have to have a contingency plan for change of government, riel changes in markets (haha), and getting left holding the bag ... but that hasn't happened in THIS former "wild west" market yet, has it?

If you had invested in the Phnomenom earlier, when people had given you that very --general-- advice, where would you be now? In a country Villa, or at the bottom of a bar, haha?

That answer will help you decide whether investing in a semi-risky proposition like crypto would be good for YOU.

It's not for everyone, but it's definitely hope, opportunity, and a massively growlng market.

Bubble T · Post by **Bubble T** » Sun Jun 24, 2018 2:05 pm

TheFriar wrote: ↑Sat Jun 23, 2018 7:40 pm I particularly loved Bubble's explanation of safety in cryptoe safety... "There is nothing shady or sinister about it, especially with regards to companies based in countries with heavy regulations in place

I'm still staying out of this as it's clear a lot of people are pretty ignorant on the subject and I don't view it as being my job to change your minds about anything. I will however step in to object to people deliberately taking my words out of context as that's just plain dishonest. The quote above was made in relation to how crypto exchanges are founded and where they get their capital from. It had absolutely nothing what to ever to do with "crypto safety", and there is no reasonable way it could have been misconstrued.

DrDisFunkShunAll · Post by **DrDisFunkShunAll** » Sun Jun 24, 2018 2:32 pm

I know. That post can be construed the wrong way.

But it serves another point — the movement driving it all.

There is a new and overwhelming demand for something better than the stodgy traditional system suppressing investment now.

When well-designed technology obviates the need for governance, excessive regulation rears its ugly head, forcing stagnation onto millions, and government attempts to justify its existence.

Right now, the crypto market is still a "wild west," a bit dangerous, but really nice for an outfit like an early Wells Fargo or Pinkerton or the railroad companies of yore.

This a temporary situation. It's a new market in a "Brave New World" — virtual AND international, online and on your smartphone.

I like it because it's a world that idiots cannot venture into yet, much like Phnom Penh (was).

Eventually, the crypto market will mature, and start locking out new entrants.

Look at PP now: is it still a bargain like before?

Kammekor · Post by **Kammekor** » Sun Jun 24, 2018 4:36 pm

DrDisFunkShunAll wrote: ↑Sun Jun 24, 2018 2:32 pm Look at the cryptomarket now: is it still a bargain like before?

FTFY

Barang chgout · Post by **Barang chgout** » Sun Jun 24, 2018 7:38 pm

Crypto is a belief system, No?
Largely depends on available believers if so.
Christianity did well and so did the dollar.

Sent from my SM-G570Y using Tapatalk

doktor_d · Post by **doktor_d** » Sun Jun 24, 2018 8:05 pm

Kammekor wrote: ↑Sun Jun 24, 2018 4:36 pmbla bla bla

Back in February you were blabbing about how segwit was failing.. last I checked the adoption rate was at about 42%.

You had no idea what the lightning network was and after I suggested you look it up, you started confusing it with segwit.. making all kinds of ridiculous assumptions.

Now you're suddenly an "expert" on the lightning network, yet you still fail to understand what it is and that it is not a replacement for the blockchain but an OPTIONAL payment solution for micropayments off chain. It enables instant, virtually free payments suited for instant, low cost purchases like a coffee, a beer etc.

Again.. it's NOT a replacement for the blockchain. It will NOT move all bitcoin transactions from the blockchain to off chain transaction channels on the lightning network.

Unless you choose to use the lightning network to pay for something, all your transactions will be on the blockchain.

Just like you can choose to pay for a coffee with cash (at least until cash is eventually made illegal) or with the 50 year old electronic payment system that most people prefer, using your plastic bank card.. this video from Brisbane international airport, is an example of how you can choose to pay for a coffee using the lightning network rather than the comparatively slow method of paying with bitcoin on the blockchain..

Nobody has to use the lightning network if they don't want to. Just like you don't have to use a segwit wallet. The blockchain is not going anywhere.. in fact there has never been as much money going into setting up giant bitcoin mining sites as there is right now. A very recent example is coinmint's $700 million mining project in New York.

https://cointelegraph.com/news/bitcoin- ... upstate-ny

To be honest, I don't know why I am bothering posting this.. as you are sure to follow up with another 5000 word post of misinformation - a result of you googling and reading about this thing you have never used and know nothing about, desperately trying to find something negative to say about it..

In which case.. don't bother. You either genuinely do not understand the subject - or you are deliberately misunderstanding and just enjoy trolling and shit-stirring. Either way, I'm not going to bother with your posts in this thread..

DrDisFunkShunAll · Post by **DrDisFunkShunAll** » Mon Jun 25, 2018 12:56 am

Barang chgout wrote: ↑Sun Jun 24, 2018 7:38 pm Crypto is a belief system, No?
Largely depends on available believers if so.
Christianity did well and so did the dollar.

Sent from my SM-G570Y using Tapatalk

Well put, at the core, I believe, are a technocracy of scientists, developers, and blockchain engineers who support a set a rules/instructions governing a network of nodes, which are basically giant voting centers.

If enough nodes agree, then consensus is made, and a transaction goes through. Easy enough?

The originator, using the pseudonym Satoshi Nakamoto, set a "charter" of sorts — which allowed for free and equitable transactions on a digital record.

The noble cause of nearly free transactions inflamed the technofinancial world — credit companies, banking hours, government regulations — all with this game changer which rides on the Internet.

The governments will attempt to intrude and regulate the crypto market, if only to make up for any tax revenue losses due to large fiat to crypto movements in their banking system.

I hope they understand that they have enough chance at stopping this game changing innovation like anyone has ever stopped the printed word, a radio broadcast, a TV show, an Internet website: only through primitive and brutal thinking would one get in the way of an advancement like this.

Commies did it not too long ago, Fahrenheit 451 was written about it, and Salman Rushdie knows about censorship in print.

To not understand it is understandable. However, to ignore its ramifications is perilous.

"Buy stock in a stupid little company started out of a garage called IBM, Apple, AT&T, or Sprint, which interestingly
used an existing signal network for an outmoded train network as a base to install their cell towers ...Bah! All nonsense to me!"

Ignoramus!

You should listen to yourself. You're sounding like the guy who thought the Internet is from Satan, or like Rumpelstiltskin, who slept until it was too late ...

Kammekor · Post by **Kammekor** » Mon Jun 25, 2018 10:09 am

doktor_d wrote: ↑Sun Jun 24, 2018 8:05 pm
Kammekor wrote: ↑Sun Jun 24, 2018 4:36 pmbla bla bla
Back in February you were blabbing about how segwit was failing.. last I checked the adoption rate was at about 42%.

42% in 10 months. How would you call that? A major succes?

doktor_d wrote: ↑Sun Jun 24, 2018 8:05 pm You had no idea what the lightning network was and after I suggested you look it up, you started confusing it with segwit.. making all kinds of ridiculous assumptions.

Not quite. I wondered whether lightning would work on top of Segwit, or not. In other words, if Segwit would be a condition. Still not sure if its the case though, but I'm pretty sure it's not.

doktor_d wrote: ↑Sun Jun 24, 2018 8:05 pm Now you're suddenly an "expert" on the lightning network, yet you still fail to understand what it is and that it is not a replacement for the blockchain but an OPTIONAL payment solution for micropayments off chain. It enables instant, virtually free payments suited for instant, low cost purchases like a coffee, a beer etc.

I am not an expert in the lightning network, and I didn't claim to be, I am not even an expert in crypto - but very few are to be honest. I do try to follow the news though, and I try to understand (to a certain degree) what's going on, and what has been going on, because I do realize things are changing, and they're changing fast. I just rephrased your 'a layer on top of the blockchain' and what that means in reality, because that sentence isn't really useful other than for marketing purposes. That doesn't make me an expert. But saying 'Lightning is a second layer on top of the blockchain protocol' doesn't make one an expert either. I never claimed lightning is a replacement for the blockchain.

doktor_d wrote: ↑Sun Jun 24, 2018 8:05 pm Again.. it's NOT a replacement for the blockchain. It will NOT move all bitcoin transactions from the blockchain to off chain transaction channels on the lightning network.

Did I say that? Did you even bother to read my post? I wrote each payment channel is recorded in the blockchain. How can that imply it replaces the blockchain? But I see a movement, a shift of paradigm, with the introduction of the lightning network. Bitcoin is moving away from it's initial paradigm of a blockchain which contains all transactions, and I rephrased that as 'moving away from the blockchain'. What do you think about that paradigm change? Or don't you care at all?

doktor_d wrote: ↑Sun Jun 24, 2018 8:05 pm Unless you choose to use the lightning network to pay for something, all your transactions will be on the blockchain.

Just like you can choose to pay for a coffee with cash (at least until cash is eventually made illegal) or with the 50 year old electronic payment system that most people prefer, using your plastic bank card.. this video from Brisbane international airport, is an example of how you can choose to pay for a coffee using the lightning network rather than the comparatively slow method of paying with bitcoin on the blockchain..

Nobody has to use the lightning network if they don't want to. Just like you don't have to use a segwit wallet. The blockchain is not going anywhere.. in fact there has never been as much money going into setting up giant bitcoin mining sites as there is right now. A very recent example is coinmint's $700 million mining project in New York.

https://cointelegraph.com/news/bitcoin- ... upstate-ny

True it's optional. Many experts expect that most (small) payments in the future will be through payment channels / lightning rather than the blockchain though. If they would not have this expectation, then why introduce it? Smart people will use the blockchain for larger payments though.

doktor_d wrote: ↑Sun Jun 24, 2018 8:05 pm To be honest, I don't know why I am bothering posting this.. as you are sure to follow up with another 5000 word post of misinformation - a result of you googling and reading about this thing you have never used and know nothing about, desperately trying to find something negative to say about it..

In which case.. don't bother. You either genuinely do not understand the subject - or you are deliberately misunderstanding and just enjoy trolling and shit-stirring. Either way, I'm not going to bother with your posts in this thread..

Again.... I rephrased your 'a layer on top of the blockchain' into language at least I do understand. What misinformation did you find there? You make all kinds of silly statements about what I said.

I am truly amazed how people using current generation crypto can't understand others can make a different decision not to step into it (yet). Reminds me of religious people.

And I noticed your final line. You can put me on the foe list if you want.

hft_trader · Post by **hft_trader** » Wed Jun 27, 2018 9:16 pm

Are people trading cryptos in Cambodia or just buyng and HODLing?

Are there any trading arcades in PP?

dron · Post by **dron** » Wed Jun 27, 2018 9:29 pm

Cyrpto is looking now like it looked since it started: like a big ponzi scheme for greedy idiots to hand money over to major players.

How's cryptocurrency looking now?

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