Is Bitcoin the Next Big Thing?

[Murray]

Lego is king actually

I was actually reading something the other day about people "investing" in lego sets

Is that what you're referring to?

Interesting the stuff you can make money in, but I suppose a lot of different things are collectible if there's a big enough fan base.

 

[domainseller200]

It is indeed Murray

 

[xseoco]

Invest in bitcoin domain : btcescrow.co.uk

 

[lazarus]

Bitcoin Earrings. Easy...

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[dee]

Blockchain tech is here to stay thats for sure. I reckon we're in for a fundamental change in the way the whole system works over the next couple of generations. We're rapidly appproaching a point where we will be forced into a rethink on the whole construct on money . Mostly down to AI,robotics and biotech approaching the steepest part of the exponential point on the curve in terms of manufacturing,energy and medicine.. Money unfortunately is also very low velocity at the moment as its hoarded. 5% of the population also own about 90% of the assets it seems. A reboot has to happen at some point.

 

[Edwin]

Blockchain tech is here to stay thats for sure. I reckon we're in for a fundamental change in the way the whole system works over the next couple of generations. We're rapidly appproaching a point where we will be forced into a rethink on the whole construct on money . Mostly down to AI,robotics and biotech approaching the steepest part of the exponential point on the curve in terms of manufacturing,energy and medicine.. Money unfortunately is also very low velocity at the moment as its hoarded. 5% of the population also own about 90% of the assets it seems. A reboot has to happen at some point.

Of course, a more dystopian view is that, once automation kicks into high gear, the 5% won't need everyone else to do the jobs they wouldn't do themselves because there'll be robots to do so for them...

Sucks to be everyone else under such a scenario (and I include myself under the "everyone else")

 

[Admin]

I also bought some Ethereum recently as a punt (riskier than BTC). Going well just recently... mentioned in this piece today which also touts a btc price prediction of 2000 USD this year

http://www.coindesk.com/2000-bitcoin-9-2017-blockchain-predictions/

 

[martin-s]

I'm glad you used the word "punt" - it's out and out gambling really.

 

[gimpydog]

Of course, a more dystopian view is that, once automation kicks into high gear, the 5% won't need everyone else to do the jobs they wouldn't do themselves because there'll be robots to do so for them...Sucks to be everyone else under such a scenario (and I include myself under the "everyone else")

You are probably a lot richer than you think.

Either in terms of income or assets or both!

We are the 5%

 

[Edwin]

You are probably a lot richer than you think.

Either in terms of income or assets or both!

We are the 5%

Based on the resources you linked to... I am. Interesting - more than anything else, that shows the power of relativism.

 

[dee]

You are probably a lot richer than you think.

Either in terms of income or assets or both!

We are the 5%

Nice reminder that its all relative ! As you say... in terms of the worlds population we are all pretty well off by virtue of the birth lottery.

 

[lazarus]

I also bought some Ethereum recently as a punt

I got in early with Ethereum and got doubled up with Ethereum classic with the hard debacle last year.

I also took a punt with XMR before alphabay took it on, That investment is at least 1000% up.

 

[ian]

Kind of ironic that Ethereum's logo is that of a pyramid. Just don't be the last one holding the ball.

 

[lazarus]

I am not bag holding any Ethereum or Ethereum classic at the moment. I use the poloniex platform, so if I am nuts deep in anything, the auto sell bots kick in if there is a big dump happening

I still think Ethereum has much more to offer but they have had a lot of crap to put right first. ie the community splitting due to the hard fork.

Right now I have interests in BTC, XMR, MAID and AMP. I don't normally go for alt coins but these offer something potentially very special in blockchain tech.

 

[dee]

Who's gonna be the last one on the mining chair when the music stops though ? Were up to over 70 % mined. Still a bit to go , but will be interesting.

 

[lazarus]

Mining what?? Bitcoin ? The last bitcoin will be mined somewhere around 2140 !!!

As far as Bitcoin is concerned, as the mining difficulty increases so does the price due to supply and demand. As more shops, charities, exchanges, even countries, start to recognise Bitcoin as a currency it will only go one way.

Ethereum will probably be moving over to PoS (Proof of Stake) instead of PoW (Proof of Work) in the next few years, whenever the Devs see fit.

Also I think you may find that the top 1% of bitcoin holders own as much as 50% that is available today.

 

[dee]

Mining what?? Bitcoin ? The last bitcoin will be mined somewhere around 2140 !!!

Ethereum will probably be moving over to PoS (Proof of Stake) instead of PoW (Proof of Work) in the next few years, whenever the Devs see fit.

Thats based on one being mined every 10mins or so ( which is current average ) moores law will accelerate that rapidly as processing power steps up. WHo knows whay AI will bring to the equation. ...and then you get into energy costs per mined coin. Hashing power is increasing exponentially .

Also....i may be wrong and just be daft, but isnt POS another "he who has the most" also ?

Ooooh..... and another thing if your into the bare bones. Why are they using graphics cards for the farms specifically ?

 

[lazarus]

Yes but Moores law is factored into it.

Mining Bitcoin is not worth mining at the moment unless you have alot of investment and cheap energy and you don't want to be using a graphics card anymore. Its all about ASIC miners. But graphics cards are still used for mining alt coins where ASIC miners can not be used.

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[dee]

Yes but Moores law is factored into it.

Mining Bitcoin is not worth mining at the moment unless you have alot of investment and cheap energy and you don't want to be using a graphics card anymore. Its all about ASIC miners. But graphics cards are still used for mining alt coins where ASIC miners can not be used.

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Okay... i just looked into the built in scarcity factor. Never had before. Current estimates are 30 trillion attempts a second by the current network of miners.

I'll get my coat.....

 

[Skinner]

I read an article in Business Insider I think, could be wrong, which were showing that within X yrs loads of jobs would be replaced by automation, and humans are being replaced quicker than new human jobs are being made. It also implied that the quality of human jobs is both lowering and increasing, creating a void in the middle of machines.

I recall the article had a brexit slant on it, I suspect you or someone else has read it and may remember it better than I. So it seems this version is already manifesting.

Of course, a more dystopian view is that, once automation kicks into high gear, the 5% won't need everyone else to do the jobs they wouldn't do themselves because there'll be robots to do so for them...

Sucks to be everyone else under such a scenario (and I include myself under the "everyone else")