Is anyone else starting to become a bit worried? mod note in first post

Tinder Surprise

makeorbrake wrote: »

Lightning Network - IF it can be implemented successfully - will deal with transaction times and costs. Additionally, segwit adoption is only at 15%. Full segwit adoption will help also.

Coinbase is integrating Segwit THIS MONTH which will give it a massive shot in the arm imo

https://cointelegraph.com/news/coinbase-crypto-exchange-to-roll-out-long-awaited-segwit-upgrade-in-few-weeks

smacl

jasper100 wrote: »

Are you seriously suggesting that mainstream businesses like Doctors, shop keepers, dentists, farmers, publicans, mechanics, etc. etc. need to go investing in coins to learn the technologies behind them as not doing so will probably cause them to struggle and fail in a few years?

Honestly, I don't know. Of the businesses you've listed, most are very traditional local service providers many of which are already struggling for other reasons. They're not exactly a representative cross section of mainstream business. I think if crypto allows small businesses to become less beholden to their banks, and to simplify the nonsense surrounding international transfers through BACS / CHAPS etc... it would be positive. Many businesses use payment portals at B2B and B2C levels and I could envisage crypto providing excellent alternatives in terms of price/performance. Those that get on board early have the potential for competitive advantage. Small business is very dynamic and competitive in its nature, and we're always looking for ways to gain such advantage.

GreeBo

ED E wrote: »

There are those that put that all down to spam TXs. Right now the currency isnt usable as such due to insane tx fees. If the cause of this is indeed spurious we could see an eventual correction.

Wash trades are a huge problem at the moment.

Watch an active exchange during the wee hours and you will see countless buys and sells of the minimum denomination for the same price, over and back, just to show volume.

smacl

GreeBo wrote: »

You can be heavily invested in blockchain and yet have zero cares about the value of crypto.

No argument there, but its is the most likely first point of contact for many of us, and useful as such.

Tinder Surprise

GreeBo wrote: »

Wash trades are a huge problem at the moment.

Watch an active exchange during the wee hours and you will see countless buys and sells of the minimum denomination for the same price, over and back, just to show volume.

I see this all the time..can you explain to me what's going on

Thanks

grindle

@GreeBo - in what sense would you be using blockchain technology?
Who's maintaining and developing it for you and what's their incentive to provide the service to you?

ct5amr2ig1nfhp

Take a look at their predictions running up to and after the crash years 07/08. Oil will hit 200 USD, USD/EUR will be parity etc etc.

A few short months before the recent financial crash, we had so called experts in the IMF telling us that the economies in Ireland, Spain, Greece etc were sound.

Do some research on these financial institutions types and take all their predictions with extreme caution. While I agree that most cryptocurrencies will not survive, I think some cyptos will survive and prosper.

crytoadvice wrote: »

Goldman Sachs reckon most crypto will fail
https://www.independent.ie/business/technology/cyrptocurrencies-unlikely-to-survive-goldman-sachs-36581170.html

GreeBo

smacl wrote: »

No argument there, but its is the most likely first point of contact for many of us, and useful as such.

Agreed, I'm just arguing against the idea that someone not investing in crypto means they are somehow ignoring the technology itself.

GreeBo

Tinder Surprise wrote: »

I see this all the time..can you explain to me what's going on

Thanks

Its basically people trying to make a market look busy, they are not exposing themselves to any risk (there is no upside or downside, other than possibly transaction fees) but it can make an otherwise dead asset/stock/coin look "interesting" and alive.

grindle wrote: »

@GreeBo - in what sense would you be using blockchain technology?
Who's maintaining and developing it for you and what's their incentive to provide the service to you?

distributed ledgers are useful for all sorts of things, thats why there are thousands of people creating their own, along with their own coins.

I can (and do) use the idea of a distributed ledger/blockchain/POW etc for something other than just having it to float a new currency.

The people behind (hopefully!) most of the crypto currencies are doing this because they believe they have an actual use case that they are solving or improving with this tech, they are not in it to watch their stock of coins appreciate, afterall, in theory they typically only appreciate if the tech itself succeeds.

smacl

GreeBo wrote: »

Agreed, I'm just arguing against the idea that someone not investing in crypto means they are somehow ignoring the technology itself.

Indeed, though it would appear to take a serious amount of effort. While I take on board the buidl don't hodl sentiment, I've read through the IOTA white paper twice and it still makes my head hurt, even with a reasonable background in graph theory. Messing about with the markets and easier to digest articles gives the necessary incentive to tackle the heavier stuff.

GreeBo

smacl wrote: »

Indeed, though it would appear to take a serious amount of effort. While I take on board the buidl don't hodl sentiment, I've read through the IOTA white paper twice and it still makes my head hurt, even with a reasonable background in graph theory. Messing about with the markets and easier to digest articles gives the necessary incentive to tackle the heavier stuff.

Its never easy being a disrupter.

Buying and selling coins on exchanges doesnt give you any insight into the underlying technologies or how they work.

All you need is money.

JohnnyFlash

https://medium.com/@bitfinexed/the-audio-recordings-bitfinex-doesnt-want-you-to-hear-44d677cf1094

Shady dealings with bitcoin and tether. Wash trading is some scam.

ED E

GreeBo wrote: »

Wash trades are a huge problem at the moment.

Watch an active exchange during the wee hours and you will see countless buys and sells of the minimum denomination for the same price, over and back, just to show volume.

Those would be off chain on most exchs no? If so they have zero impact on TXs.

kaymin

Interesting article about a new payment mechanism to be adopted by European banks:

“TIPS is 10 seconds, 0.2 cents. DLT transactions are at best 30 euros and take at least one hour,” Mersch said in an interview on Tuesday. “We have a mandate for efficient payment systems, and we go for efficiency. We are not bound to a technology, we are bound to results.”

https://www.bloomberg.com/news/articles/2018-02-08/ecb-s-mersch-says-his-payment-system-is-better-than-blockchain?srnd=cryptocurriences

On the otherhand, the EU is investing significant sums in the application of Blockchain across areas such as:

• VAT reporting;
• Taxation;
• Customs;
• Title and business registries;
• Environmental, financial and company reporting,
• Health records management, clinical trials reporting, medicines registration, identity management.

https://ec.europa.eu/digital-single-market/en/blockchain-technologies


What this tells me is that the consistent substitute of crypto currencies for Blockchain in the posts by many crypto proponents reflects a very narrow view of Blockchain's potential.

grindle

kaymin wrote: »

What this tells me is that the consistent substitute of crypto currencies for Blockchain in the posts by many crypto proponents reflects a very narrow view of Blockchain's potential.

How so?
People have been expecting that to be the main future use-case for Ethereum since the EEA announcement.

JohnnyFlash

grindle wrote: »

How so?
People have been expecting that to be the main future use-case for Ethereum since the EEA announcement.

For etereum as a technology stack,not for using the ethereum coin. That definitely won’t be used.

grindle

JohnnyFlash wrote: »

For etereum as a technology stack,not for using the ethereum coin. That definitely won’t be used.

Why?

How do they benefit from the tech stack without the providers of value to the stack (currently miners, soon to be stakers) benefiting? Bearing in mind that the devs of Ethereum and companies which are hanging from it's teat would be some of the largest stakers.

JohnnyFlash

grindle wrote: »

Why?

How do they benefit from the tech stack without the providers of value to the stack (currently miners, soon to be stakers) benefiting? Bearing in mind that the devs of Ethereum and companies which are hanging from it's teat would be some of the largest stakers.

Cause the ecb isn’t going to base a pan European interbank exchange technology on a coin that varies in value, is held by random punters around the world who hope to buy lambos from owning it, and is traded on dodgy exchanges with extremely questionable liquidity.

https://www.ecb.europa.eu/press/key/date/2018/html/ecb.sp180208.en.html

If they wanted to use ethereums approach to blockchain then they would partner with them, following a competitive eu tender of course. Or just do what all the scam coins are doing and download the source code here. The banks and other institutions would take care of the proof of work and other stuff.
https://github.com/ethereum

Bob24

kaymin wrote: »

Interesting article about a new payment mechanism to be adopted by European banks:

“TIPS is 10 seconds, 0.2 cents. DLT transactions are at best 30 euros and take at least one hour,” Mersch said in an interview on Tuesday. “We have a mandate for efficient payment systems, and we go for efficiency. We are not bound to a technology, we are bound to results.”

https://www.bloomberg.com/news/articles/2018-02-08/ecb-s-mersch-says-his-payment-system-is-better-than-blockchain?srnd=cryptocurriences

Yep this will be quick, universal across EU bank accounts in any country, and I believe there will be an option to use mobile numbers to identify the sender iand beneficiary instead of IBAN numbers which will make it very easy to use and allow for identifier portability if you change bank.

No doubt more efficient and environment friendly than a blockchain, but it requires an central entity to supervise it (the ECB) so it is probably unlikely to spread much outside Europe.

grindle

JohnnyFlash wrote: »

If they wanted to use ethereums approach to blockchain then they would partner with them

I don't know what you're not getting here but a distributed ledger has no value outside of the network. No value whatsoever - they might as well build a standard database that requires multisig access and consider that trustworthy if that's the way you think or the way they think.
ETH's valuation and current tx costs will have little to no effect on the economics of how this works, the Casper update is bringing Plasma and sharding into the mix, tx costs are going to get micro (nano?) transaction friendly and it simply won't impact the EU whatsoever beyond removing accountants/cutting costs and making trust/fraud a non-issue.

Fighting Tao

Over a day since the last post. Where have all the protectorates gone?

Fighting Tao

Fighting Tao wrote: »

Over a day since the last post. Where have all the protectorates gone?

Wait until the next crash...

JohnnyFlash

Follow the trail back out into real money. If you've made a fwe quid then cash it out and buy a playstation or something. Even cash out yer losses if you can. Don't be the lads held holding these coins worth nothing. 0 lads. There's nothing there.

lostboy75

JohnnyFlash wrote: »

Follow the trail back out into real money. If you've made a fwe quid then cash it out and buy a playstation or something. Even cash out yer losses if you can. Don't be the lads held holding these coins worth nothing. 0 lads. There's nothing there.

There's nothing here either...

JohnnyFlash

JohnnyFlash wrote: »

Follow the trail back out into real money. If you've made a fwe quid then cash it out and buy a playstation or something. Even cash out yer losses if you can. Don't be the lads held holding these coins worth nothing. 0 lads. There's nothing there.

Ah good man Johnny, the forum is far too quiet tonight.

*Looks at time, 2.03am...shíte*

I've already followed the trail out into 'real money' several times, with profits. Playstation isn't my thing, but flights to and from several international destinations are.

There are many shítcoins out there worthy of your rants, you really aren't far off the mark with a lot of the coins. However, overall you do the industry, the genuine projects and yourself a disservice. Quite frankly, you're talking bollix on a very consistent basis now.

Others have tried to genuinely debate with you and link you to places where you can read about actual companies running real world projects, but then you come back with the above generalised rant.

I've seen plenty of welcome criticism and debate in this thread, you have provided little to none of it. For someone who just has a passing interest and is concerned for us all, you've certainly built up quite the post count.

So what's the real story Johnny? I'm starting to suspect that you might be the biggest HODLER of us all here, trying to scare the weak hands into selling during these uncertain times.

Are you in fact Johnny the Whale?

JohnnyFlash

I do not need to provide proof. All those comapnies you think are doing blockchain aren't. every coin you think is worth money is worth nothing. This is the biggest scam seen in a long long time. Even me cat could seee this.

Dr Bolouswki

JohnnyFlash wrote: »

For etereum as a technology stack,not for using the ethereum coin. That definitely won’t be used.

The lack of understanding in this short statement is hilarious. You are hoisted on your own petard.

Manic Moran

I don't trust cats. I certainly wouldn't trust a cat with my money, let alone to try investing or speculating on the basis of what my cat sees or thinks.

lifeandtimes

[Deleted User] wrote: »

Ah good man Johnny, the forum is far too quiet tonight.

*Looks at time, 2.03am...shíte*

I've already followed the trail out into 'real money' several times, with profits. Playstation isn't my thing, but flights to and from several international destinations are.

There are many shítcoins out there worthy of your rants, you really aren't far off the mark with a lot of the coins. However, overall you do the industry, the genuine projects and yourself a disservice. Quite frankly, you're talking bollix on a very consistent basis now.

Others have tried to genuinely debate with you and link you to places where you can read about actual companies running real world projects, but then you come back with the above generalised rant.

I've seen plenty of welcome criticism and debate in this thread, you have provided little to none of it. For someone who just has a passing interest and is concerned for us all, you've certainly built up quite the post count.

So what's the real story Johnny? I'm starting to suspect that you might be the biggest HODLER of us all here, trying to scare the weak hands into selling during these uncertain times.

Are you in fact Johnny the Whale?

Johnny wants to have his cake and eat it too.

If the market crashes her wants to be able to tell us all "I told you so"

If it soars he wants to be able to say "well I only wanted the best for you"

It's a win win and Johnny sails off into the night

JohnnyFlash

lifeandtimes wrote: »

Johnny wants to have his cake and eat it too.

If the market crashes her wants to be able to tell us all "I told you so"

If it soars he wants to be able to say "well I only wanted the best for you"

It's a win win and Johnny sails off into the night

It won’t soar. Calling it here and now. I’d suggest the canny investors round here liquidate their positions back into euros as quickly as possible. Exchanges are taking real money and buying virtual money with virtual money. The real fiat stuff that ye think is going extinct (but still hope to make a load of) is flowing out the back.

Ye aren’t going to turn a thousand quid into a million lads. Life ain’t that easy. If it sounds too good to be true and all that.......