What is pols opinion of cryptocurrency

this is not a shill thread or a bait thread, i'm just seeing if pol backs any cryptocurrency for world changing potential or at least for mad gains

disclaimer i missed the bitcoin boat but did snap up 100 ETH at the 20s

Other urls found in this thread:

youtube.com/watch?v=ByFfzMORXSM
youtube.com/watch?v=fWk3O4JdgM8&feature=youtu.be&t=71
sijoitakultaan.fi/
blockgeeks.com/guides/smart-contracts/
getmonero.org
monero.how/monero-infographic
twitter.com/SFWRedditGifs

every transaction i ever made ive lost "money"
im probably just fucking stupid though

>im probably just fucking stupid though

You called it, yes you are

...

Don't use it, it's a bubble.
Sucks to be you.

brap?

>this is not a shill thread
Only shills feel the need to say that

More than 70% of bitshit is owned by less than a dozen people, largest share being the us government.

Banks are already making their own crypto tool, and there's no doubt that shit will be accepted everywhere

It could have saved us from monetary collapse if it was launched 20 years ago.

It's too early to be taken as an alternative form of saving wealth, as it's not only on price discovery phase, but it's kinda a beta or early version, there's room for improvement for current blockchains trought updates or new launches -just like eth coming so strong-, there's sky for improving upon that

so until creativity finds the limits, it's going to be highly disruptive

just as eth kicks btc out of the table as a new way of doing blockchain, anything else can do the same with eth at some point, things that can be done work like that, you don't expect them until someone pulls it out of nowhere trashing out old models

so, to sum up, it's a tool that will save humanity from the errors of politics and miserable ideologies, the thing is, not even close, and not close enought for the end of the current economic cycle

BRAAAAAAAP
the blockchain mecanism and smart contracts will likely be interesting in the future I dunno if it will bring decentralised banking or if trading coins will stay profitable for long though

The underlying technology (i.e. the blockchain) is interesting and will more than likely play a big part in future monetary systems, however the cryptocurrencies out there themselves (such as BTC and ETH) are purely speculative assets right now and there is absolutely no chance that they will be used in major commerce or trade in their current state.

When a cryptocurrency is invented which is backed by Gold (and/or Silver) then I will be excited. That type of currency would have the potential to be adopted as a new monetary standard worldwide when people lose confidence in fiat currencies - and that point of confidence loss is coming far sooner than most realise.

you're retarded

> the cryptocurrencies out there themselves (such as BTC and ETH) are purely speculative assets right now
wrong
>no chance that they will be used in major commerce or trade in their current state.
wrong, governments and banks are already using crypto and more and more are adopting it and recognizing it as "real" currency

>When a cryptocurrency is invented which is backed by Gold (and/or Silver) then I will be excited.
you have no idea what you're talking about, that doesn't make sense

also
>durr muh shiny rocks
blockchains have real value

>wrong
No, I am not wrong. All current cryptocurrencies are speculative assets - people buy them in the hope that they will keep going up and up, they're used a lot by day-traders. People do not buy them for trade or commerce purposes.

>wrong, governments and banks are already using crypto and more and more are adopting it and recognizing it as "real" currency
This is a common misconception. Companies which say they accept BTC as payment don't actually take bitcoins and hold them, they use a service called BitPay which automatically converts a customers BTC into the currency which the company trades in (e.g. dollars, euros, pound sterling and so on). They don't actually hold BTC on their balance sheets.

>you have no idea what you're talking about, that doesn't make sense
Not an argument.

>blockchains have real value
The technology does, yes, as I mentioned before. But current cryptocurrencies are just digital fiat.

look at that fat ass

needs a black dick up in there

everything you've said is completely wrong again

not even going to bother replying to each point with citations, google the shit yourself

stay poor nocoiner

but he is right
there is almost zero usage of Bitcoin outside of the deep web

They are not speculaltive assets. Their goal is to provde a way to purchase stuff without relying o the traditional banking system. In that way , it works. Of course that some dude are using speculate, but crypto currencies are not stocks. They have a clear use.

And why would you want to have gold back crypto? It makes no senses. Even the fucking US dollar is not backed by anything except the trust of the users.

>stay poor nocoiner
lmao, I knew that you'd be a crypto bagholder in denial. It's your money so I really don't care, keep on buying up these meme coins if you really believe in them that much. Everything I've said is 100% correct.

Shift will make us rich.

Maidsafe will free us from the Jews.

>And why would you want to have gold back crypto? It makes no senses. Even the fucking US dollar is not backed by anything except the trust of the users.
Because a currency backed by nothing but the trust of its users is a fiat currency and is bound to fail rather dramatically - not a single fiat currency in all of recorded history has ever survived, they've all gone to zero-value in relatively short periods of time.

I am a sound-money advocate, the only path back to true prosperity is to back a currency with physical assets. Nixon completely removed the US from the Gold Standard back in 1971 and the world monetary system has been a complete mess since then with living standards amongst the middle and working classes stagnating at best.

[BRAAAPs in Japanese]

I invested heavily into Trumpcoins. It's going to the moon any day now. Any day.

bitcoin is a scam. there is for example a guy called knightmb who has got 400.000 bitcoins.

they just manipulate the price. dont go in now. its too late.

u can look up knightmb if u dont believe me. there are lot of "whales" like him.

The red pill not enough people have swallowed.

youtube.com/watch?v=ByFfzMORXSM

youtube.com/watch?v=fWk3O4JdgM8&feature=youtu.be&t=71

Who is that sushi tushy?

They will become worthless once quantum computers arrive

crypto shekels are just good for buying drugs online
that's it

ayo who dis though

I agree with what you say about gold-backing of currency in favour of fiat currency, but the gold has value because of its scarcity and the cost/difficulty of mining it, not because it has a physical presence. Hence why lemons, shirt buttons and ice cubes aren't money, despite their physical status.
The value of Bitcoin comes from scarcity (the supply is capped at 21 million) and difficulty in mining them so it is this that gives them their monetary value, just like gold (they can't simply be printed).
Backing it with gold would just be doubling up and would not be practical. If you want a gold-backed currency just print money that is gold-backed.
Backing Bitcoin with gold would be like backing silver with gold.
I hope that makes sense.

Bitcoins is backed by math.
Gold is backed by physics.

>implying btc is not the narcodollar

It creates no jobs
It produces nothing
It creates value from thin air, not much differently from central bankers

fuck off to /biz/

It's the final red pill

A world wide currency that's basically used to hide money and launder cash. Sounds like the best idea ever. No way that it will bite us in the ass if we all switch

Would grab bar and then fap with braaappp heat/10.

it's totally worth buying at these brice levels :D :DDDDD

Crypto has 2 major issues
1. Its not in common use to buy things in any district anywhere
2. Its only as safe as the computer you use to hold it, and most computers arent safe

>2. Its only as safe as the computer you use to hold it, and most computers arent safe

good thing you can store it online, or offline, or on a piece of fucking paper

Absolute gamble. It could drop 50% for almost no reason. It could go up just as much for no reason. It's a bubble imo.

>stock up on cryptocurrency
>some sort of major crisis occurs
>government shuts down the Internet/electricity
>your cryptocurrency is now worthless because there is no internet/electricity
it's pointless. the only thing cryptocurrency is good for is scamming gullible fucks into buying your bullshit

You still need to go online to use it

the only problem with crypto currency is that it will take time for it to be acceptable everywhere.

thats it. besides that theres literally no reason it will be not widely used in 20-30 years. maybe not on the platform its on now, but certainly something similar.

You're delusional. Market cap on all cryptos is over $90 billion. It would have sounded plausible -- the assertion that investors in these coins are bag holders -- if you had said it 5 years ago.

But now we know there are people who buy these things to preserve wealth in nations with ridiculous inflation and which seize hard assets to keep their failed policies afloat one more day. I'm looking at you, Venezuela and India.

None of those people regret buying cryptos. They have money that holds its purchasing power and that the government is completely powerless to steal.

Cryptos are way more than dark net money and vehicles for speculative investment. They've probably already saved lives and livelihood in failed states.

>government shuts down electricity
>government shuts down internet
holy shit do you have a blog or other publication i can subscribe to?

Yes, they are different things. Well done for keeping up.

Just becuasw the venezuelan peso is more volatile that bitcoin isnt proof of bitcoins worth.
Its just shows you how bad venezuela is

>Nixon completely removed the US from the Gold Standard back in 1971 and the world monetary system has been a complete mess since then with living standards amongst the middle and working classes stagnating at best.

Correlation does not equal causation. And backing fiat with gold is just moving of goalposts; gold only has value because people agree it has value, same as with fiat.

preserve wealth lmao!
bitpennystocks won't preserve sh!t when the flood for the exits occurs.

Nope. They will hard fork to quantum computing resistant algorithms.

>largest share being the us government.
that's not how you spell china

Bitcoin is only currency that i can see lasting through time, all others are scams, or minority tradeitems, not real value except in specialized markets.
I consider all others than Bitcoin to be kind of videogame money.

Bitcoin needs to last 10 more years and be more stable until i believe it truly, but its promising.

Also, dont fall for the scam money like
Onecoin
Thats for retards.

there is a flood for the exits everyday. every hour when it drops >2%

that doesn't mean shit except alot of people with access to it dont know what theyre doing. the volatility could be directly related to the success of crypto and how easy it is for a user to control their money and how fast they can take it out.

Not wrong in principle, but gold is just *that* much harder to inflate

If you're talking about bitcoin clones / scam coins, then you're right. But there will be no flood for the exits down to 0, ever. There have been some substantial selloffs in all of them, but volatility -- high as it is -- is lower than it was at smaller market caps. This thing is growing rapidly but also becoming less volatile. Time will come it's worth several times what it is now, or actually probably a handful of existing coins will survive, though most won't. And those will eventually become quite stable in terms of fiat purchasing power.

fuck off jew

And then someone brings a goldasteroid into orbit and crashed the markets.

its pretty sweet

I just bought my 2nd and 3rd house with bitcoin

I also paid for my wife's son's tuition at uni

Id let my currency crash to see that

being real about that by the time we can do that the concept of money itself may have become a irrelevancy

>money
>currency

Currency will never become irrelevant, don't believe leftist star trek #dream-life.

Where does back end and ass begin?

ETH will probably overtake Bitcoin, and it probably won't remain on top forever either. Bitcoin was about 85% of all crypto market cap a couple months ago. Now it's about 46%. There is no sure winner yet.

These coins are not all the same. I'll give an example of what makes some coins stand out.

Bitcoin: First mover, currently the largest and most widely accepted

Etherium and Etherium Classic: Allow for smart contracts on the blockchain

Litecoin: Implemented SegWit, which makes lightning networks possible. These in turn will allow faster transactions and less blockchain bloat over time.

DASH: Fast transactions

Ripple (XRP): Fast transactions, targeted at banks as a better way to transmit money especially internationally

Monero: Trustless privacy. This uses stealth addresses and ring confidential transactions to make the money completely fungible. There is no need for a mixer with this coin ever, and no blockchain analysis is possible to track the movement of money.

Zcash: Trusted privacy. Uses zero-knowledge proofs to achieve much the same that Monero does by other means. Monero and Zcash are in competition with each other as much as with Bitcoin.

it would be a minimum of 50 years if we started that project today and we are probably 50 years from having it. so in 100 to 150 years time what do you think economics will look like given technological advances?

>using cryptocurrency
>at nsa/cia era

and I am not even talking about new order of barbarians, part that talk about digital currencies

in which one you recommend to invest?
I'm currently buying ETH like crazy.

I agree, crypto has all kinds of issues preventing mass uptake.
Just pointing out that backing something that has value due to scarcity and difficulty to acquire with something that has value due to scarcity and difficulty to acquire shows a lack of fundamental understanding of crypto.

not really anymore a guy made a visa card that can be used anywhere that acts like a debit card for crypto

What are smart contracts?

Kys

I'm in Monero mostly, but also Ripple, Etherium Classic, and still a little Bitcoin. Goes to show I understand the tech better than how to pick the winners; Etherium was a way better investment than Etherium Classic.

So I cannot give reliable advice on what you're asking. You may be best off sticking with ETH. But if I will advise at all, if you wanted to diversify into one more coin, I would say Monero. It's a pretty incredible feeling knowing you have money nobody and no government can track or take from you, no matter how hard they try to do so.

Everything needs a numerical value, way of transactions might change, but currency will be forever.

Only some tinfoil-grazy kiddos thinkg some Zeitgeist will happen.


Only thing that might remove the need for currency is unlimited energysource and that is not going to happen.

No, solarpower or fusion power is no unlimited energy.

Its the only thing we have to get out of the grip of the rothschild banking cartel.

I would be investing into ETH if id be a retard that can take huge risks, but since i am not, im buying physical gold.

as in goldplates. sijoitakultaan.fi/

So far i own around 3000e worth of small goldplates.

>So far i own around 3000e worth of small goldplates.

How much gold is that? Is it a large quantity?

they said that as well about having nuclear power in the 50s which was only also about 50 years ago half to 1/3 the time frame we are talking about. i never said that i was certan that something like that would happen ether just pointing out that the future is not going to be like it is today at the very least even without getting a fusion revolution or other unlimited power thing you are implying

bump

Probably better if I link a good explanation: blockgeeks.com/guides/smart-contracts/

I made you sad. LOL!

>disclaimer i missed the bitcoin boat

If you says something like this it means you don't understand crypto yet.

haha not at all large... i could carry these in my pockets if needed.

8 x 10 grams goldplates... 1 is around 400euros

i've been giving 1g plates as a gift to my friends. worth 52euros/piece.

Ardor

Rchain

i been doing silver myself. easy to get and it is low now so its a good buy. also if you are looking for bang for buck in a currency collapse situation silver will normally jump over 1000% when gold will only go up about 30 so if expecting economic trouble silver is normally the better return

...

please tell me more about Monero

gold is fucking useless tho and will be even more worthless in the future.

Been thinking the same actually and i plan to spread into all precious metals like palladium and platinum too.

Gold is the most commonly used, so its a safest bet, but silver is good too, since its cheaper.

Im happy that i can buy all these metalcoins from same trusted site and no need for banks.

picture is silver combibar 100x1gram silver pieces. 123euros for all.

Quite handy.

>gold is useless :DDD :DDDD
Is that you Merkel? Because you use same level logic as her. :DD

>Gold is useless
>Immigrants make us rich
>Multiculturalism saves Germoney

You must have quite a lot of spare capital to dump into these things.
They arent useful for investment and they arent useful as currency or wealth storage if you dont expect some kind of crash

sure for now metals have some worth but this could change in the future.
what if they start mining asteroids and then your gold and silver is worthless because shlomo found a ways to get more of it?

ETH will not overtake BTC. ETH is centralized and does not scale. ETH would be fucked if it had the traffic BTC does. CORE devs back core.

That silverthingie was just a humor, id rather buy bigger bulk.

But hey, it could be hobby, some people collect bottlecaps, because they can be used as money! :DD

>you can only use cryptocurrencies on the internet

XAUR is a crypto backed by gold. It's already happening

>eth is centralized

no.

bitcoin is web 1.0 and eth is web 2.0

and bitcoin has drama

Monero is still a fairly young and small open source project. Market cap is around $650 Million, so it's less than 2% the size of Bitcoin. Still, it is very secure currency. I don't shop on AlphaBay, but I have gone there out of curiosity. They accept Monero (and others). What I thought was interesting was about those mixers. A Bitcoin withdrawal, they will offer to send to a mixer for you. With Monero, there are no mixers because such a thing would be useless in that currency; it is anonymous by its nature.

This contrasts, by the way, with Zcash which is opt-in privacy, not default privacy.

Here is the home page for the project: getmonero.org

And here is an interesting page of explanations: monero.how/monero-infographic

They also have a reddit sub, so now I mentioned that someone will surely say "go back to plebbit" or something.

Note that though the project has a home page and all, it is not premined or any such nonsense. Everyone in the community can contribute to the code, etc. So in this it is very much like Bitcoin. The one big difference in the privacy aspect of it.

> and bitcoin has drama

Lots and lots of it. Bitcoin's biggest "enemy" is the Bitcoin community.

All I know Is I made $30,000 in the last month.

I am not entirely sure how bitcoin and cryptocurrencies work, but from my understanding it seems like you can't buy most things with cryptocurrencies on the internet without first selling the cryptocurrencies to get USD/other currency and then buying what you want with that money?

Or can you directly buy things on ebay with cryptocurrencies? If not is there some sort of service that allows you to automatically convert your cryptocurrencies to usd when you are shopping on the internet?

The notable marketplaces where crypto currencies reign supreme are the dark net. People selling dope and other illegal crap there will not accept any fiat payment. They accept only crypto currencies, which allow them to preserve their anonymity, and they convert to fiat after the transaction, not before.