Blockchain and blockchain alone.

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Re: Blockchain and blockchain alone.

Postby chrisco » 16 Mar 2017, 18:03


Ok, working through my list of promised posts (your up next Top 5 rankings of Jealous Guy!).

The Blockchain is legit, but overhyped. I think this article is a decent summation of where do we go from here:

https://techcrunch.com/2017/03/12/bitte ... usionment/

Bitcoin right now is mostly used as a way to get around Chinese currency controls. Its community is at war bo/rod/mtm/kite/frank in #MAGA with itself and won't really pull its head out of its ass in time. The fact that they cannot agree to speed up their transaction processing and are still wrestling with forks is no bueno for its future.

Here is an analogy that might help...

Blockchain = Social Networking (this is the underlying method)
BitCoin = MySpace (this is the first version of this you heard of)
???? = Facebook (this is the one that gets it right)

Someone needs to come in and clean this up. We'll have numerous specialized or private blockchains (same way we have for social networks), but we also need a decent mass market universal blockchain with a commonly accepted crypto currency on top of it.

Now in terms of the blockchain, I'm in agreement with the techcrunch article above which says that we don't even really need a mass market crypto currency/blockchain because there are more than enough specialized uses to matter. At the same time who knows what tomorrow will bring and there could be a killer app out there.

To me, what's more interesting is the accounting level of mundane actions that the blockchain can allow for. There are plenty of things we've never transacted in before because the level of human effort to settle those transactions was not worth it. Blockchains gives us additional levels of precision that can open up new ways to do business. The best analogy I can provide here is that once upon a time we measured things in hours, minutes, and seconds. Then we added milliseconds. They were not crucial to our existence, but they allowed us to do more things than we could have before.

Anyway I am rambling and need to get ready for my jealous guy post.

Believe the Block Sonz.
Last edited by chrisco on 16 Mar 2017, 18:37, edited 1 time in total.
BostonSucksMyBalls - Fri Apr 07, 2017 9:03 am: I listen bc ive listened for about 25 years. I need to see this stupid thing thru.
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Re: Blockchain and blockchain alone.

Postby mj3528 » 16 Mar 2017, 18:09

I never thought I would post in this thread.

'Sco, this is the movie I mentioned in the box that dealt with one of the guys involved with bit coin that I saw at Sundance:

http://variety.com/2017/film/reviews/the-new-radical-review-1201967572/

It was ok, but filmed a little strange and I was confused on more than one occasion.

Almost all of the guys in the movie were strange. You might like it.
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Re: Blockchain and blockchain alone.

Postby Dr Jeckyll » 16 Mar 2017, 18:15

I didn't know what blockchain was besides the title of a sotsg.com thread until i read the article, ty sco.
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Re: Blockchain and blockchain alone.

Postby TheWolf » 16 Mar 2017, 18:21

Dr Jeckyll wrote:I didn't know what blockchain was besides the title of a sotsg.com thread until i read the article, ty sco.


Same.
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Re: Blockchain and blockchain alone.

Postby chrisco » 16 Mar 2017, 18:40

TheWolf wrote:
Dr Jeckyll wrote:I didn't know what blockchain was besides the title of a sotsg.com thread until i read the article, ty sco.


Same.

My job is to educate. One day the machines are coming for all of us and if you know what they do, you'll know how to control them. Stay capitalist woke.
BostonSucksMyBalls - Fri Apr 07, 2017 9:03 am: I listen bc ive listened for about 25 years. I need to see this stupid thing thru.
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Re: Blockchain and blockchain alone.

Postby chrisco » 24 May 2017, 16:20

Big day for Bitcoin - http://www.coindesk.com/bitcoins-new-sc ... -reaction/

There has been a massive, massive, massive run up in the value of cryptocurrencies. BTC is now over $2500 and Etherium is at $180.

Image

My partner with a million hobbies turned $25k into $150k in 6 months of trading. I meant to buy some coins in March, but forgot/couldn't be bothered.

There's a ton of manipulation in the coin trading world. Its very wild west and there will be a reckoning at some point. At the same time, I could see this like the poker craze and a ton of newbs pumping it way past this. If my man can keep his head about him and not get crushed, I'll salute him for being enterprising. At this point I need to remind myself that I'm not a trader sort of guy, and if I am getting into this space, I need to go and build something.
BostonSucksMyBalls - Fri Apr 07, 2017 9:03 am: I listen bc ive listened for about 25 years. I need to see this stupid thing thru.
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Re: Blockchain and blockchain alone.

Postby the cheese » 24 May 2017, 21:32

chrisco wrote:Big day for Bitcoin - http://www.coindesk.com/bitcoins-new-sc ... -reaction/

There has been a massive, massive, massive run up in the value of cryptocurrencies. BTC is now over $2500 and Etherium is at $180.

Image

My partner with a million hobbies turned $25k into $150k in 6 months of trading. I meant to buy some coins in March, but forgot/couldn't be bothered.

There's a ton of manipulation in the coin trading world. Its very wild west and there will be a reckoning at some point. At the same time, I could see this like the poker craze and a ton of newbs pumping it way past this. If my man can keep his head about him and not get crushed, I'll salute him for being enterprising. At this point I need to remind myself that I'm not a trader sort of guy, and if I am getting into this space, I need to go and build something.


The limiting factors for a bitcoin mine are electricity and computing power right? I could probably find you a couple good places to look for a corrupt church or school that gets free cooperative electricity overnight. They're all over Texas. The shitty parts of Texas, but Texas.
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Re: Blockchain and blockchain alone.

Postby Frank the Tank » 25 May 2017, 19:25

When it crashed after the first time BTC was over $1K I told myself that I'd never invest in these. Big mistake.
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Re: Blockchain and blockchain alone.

Postby Theny » 26 May 2017, 06:13

Frank the Tank wrote:When it crashed after the first time BTC was over $1K I told myself that I'd never invest in these. Big mistake.


I felt the same, if it makes you feel any better.
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Re: Blockchain and blockchain alone.

Postby chrisco » 30 May 2017, 16:52

Theny wrote:
Frank the Tank wrote:When it crashed after the first time BTC was over $1K I told myself that I'd never invest in these. Big mistake.


I felt the same, if it makes you feel any better.


I bought some bitcoin (BTC) and ether (ETH) last Friday. My BTC is currently down 1%, and my ETH is up 31%.

Bitcoin is probably just stabilizing after it peaked at $2700. I got know idea what is driving Ethereum. Trading is not my thing.

I'll report back in when they are both down 31%. \:D/

Been spending the last several days reading through the ethereum white papers, in a week or two I'll have a better idea how useful a platform it is and whether this is hype or the next big thing. So far, it makes sense and looks powerful. The bigger question is whether that's in a very limited scope (basically around financial settlement) or if it has much wider applications.
BostonSucksMyBalls - Fri Apr 07, 2017 9:03 am: I listen bc ive listened for about 25 years. I need to see this stupid thing thru.
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Re: Blockchain and blockchain alone.

Postby Theny » 30 May 2017, 16:59

chrisco wrote:
Theny wrote:
Frank the Tank wrote:When it crashed after the first time BTC was over $1K I told myself that I'd never invest in these. Big mistake.


I felt the same, if it makes you feel any better.


I bought some bitcoin (BTC) and ether (ETH) last Friday. My BTC is currently down 1%, and my ETH is up 31%.

Bitcoin is probably just stabilizing after it peaked at $2700. I got know idea what is driving Ethereum. Trading is not my thing.

I'll report back in when they are both down 31%. \:D/

Been spending the last several days reading through the ethereum white papers, in a week or two I'll have a better idea how useful a platform it is and whether this is hype or the next big thing. So far, it makes sense and looks powerful. The bigger question is whether that's in a very limited scope (basically around financial settlement) or if it has much wider applications.


Buy high, sell low. Bold strategy, Cotton. :)
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Re: Blockchain and blockchain alone.

Postby chrisco » 30 May 2017, 17:01

Theny wrote:
chrisco wrote:
Theny wrote:
Frank the Tank wrote:When it crashed after the first time BTC was over $1K I told myself that I'd never invest in these. Big mistake.


I felt the same, if it makes you feel any better.


I bought some bitcoin (BTC) and ether (ETH) last Friday. My BTC is currently down 1%, and my ETH is up 31%.

Bitcoin is probably just stabilizing after it peaked at $2700. I got know idea what is driving Ethereum. Trading is not my thing.

I'll report back in when they are both down 31%. \:D/

Been spending the last several days reading through the ethereum white papers, in a week or two I'll have a better idea how useful a platform it is and whether this is hype or the next big thing. So far, it makes sense and looks powerful. The bigger question is whether that's in a very limited scope (basically around financial settlement) or if it has much wider applications.


Buy high, sell low. Bold strategy, Cotton. :)


Plan on making it up in volume. :lol:
BostonSucksMyBalls - Fri Apr 07, 2017 9:03 am: I listen bc ive listened for about 25 years. I need to see this stupid thing thru.
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Re: Blockchain and blockchain alone.

Postby mister bacon » 01 Jun 2017, 06:33

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Re: Blockchain and blockchain alone.

Postby chrisco » 12 Jun 2017, 15:27

Poor dogecoin. They were a fun community who then got scammed pretty good.

Speaking of scams, its time for a trading report on my coinz! I've bought $14.5k over the last 2.5 weeks and am up $5k (36% inclusive of fees).

$9550 has gone into ETH (Ether). I first bought at $167, its now at $350. So there's a 51.6% return over 3 purchases.
$5k has gone into BTC (Bitcoin). I first bought at $2219. Its now at $2618. There's a 6.8% return there, but my second purchase is in the red.

I had wanted to put $25k into this so that I had enough to feel invested in the platforms. The challenge is that I'm limited to one exchange licensed for NY that sells BTC and ETH, and there are velocity limits in place on new accounts. You can only ACH in $X per week, can only buy $Y per week, etc...I've hit my limits each week, while ether has more than doubled in price in that time. If this trend keeps holding, I'd be paying triple for the same number of coins 3 weeks ago. That does not seem like a smart move. Right now I think the right move is to enjoy the ride and not pile on, because the crash is gonna hurt.

I've also decided that I am getting close to being a TRU believer in Ethereum, and don't enjoy the vibe coming from the Bitcoin community.

The /r/ethtrader reddit is a really interesting follow right now. Imagine a bunch of kids who believed in something, saw it come through to the point that they all have giant horseshoes sticking out their asses, and are not really sure what else to do but enjoy the ride and await the Flippening (when ETH eclipses BTC in market cap).

https://www.reddit.com/r/ethtrader/

Anyway this might be the funnest retirement thing I've stumbled on to so far.
BostonSucksMyBalls - Fri Apr 07, 2017 9:03 am: I listen bc ive listened for about 25 years. I need to see this stupid thing thru.
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Re: Blockchain and blockchain alone.

Postby chrisco » 15 Jun 2017, 19:38

So this guy:

http://www.investopedia.com/news/who-ji ... oin-today/

dropped the value of Bitcoin 25% overnight. Without getting too deep into it, the Bitcoin community is in a fight right now about increasing block sizes and a couple other proposed upgrades. Jihan Wu mines 16.4% of blocks on the Bitcoin blockchain, so he has weight. Yesterday he bluffed by saying that he's not in favor of some of the changes and will hard fork his nodes instead. This triggered a sell run, the exchanges were flooded and crashed, and he presumably maybe a fortune by buying on the dip.

The entire crypto space took a hit, ETH dropped a similar percentage as well.

Both are rebounding now.

Post sell off, I am up 26%. My ETH is +37% (including a small buy I made near peak). My BTC is -2%.

I'm having a lot more fun with this than I expected.
BostonSucksMyBalls - Fri Apr 07, 2017 9:03 am: I listen bc ive listened for about 25 years. I need to see this stupid thing thru.
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