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What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

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What is the fate of Bitcoin?

  1. Currency of the future

    35.4%
  2. Passing Fad

    64.6%
  1. Omer

    Omer Member

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    Well said, got into XLM yesterday after selling my LTC. Might get back into LTC once it dips again.
     
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  2. CCity Zero

    CCity Zero Member

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    Happy to help! I think XLM could be special, I just like that it's lower price so can make up some quick ground. Few others to watch for are TRX (doubled since last week 4 to 8 cents), POE, FUN (that's definitely a long hold), and strangely this one called FUEL (make sure it is etherparty if investing). Etherparty could jump to $1 at launch but is risky and not a huge fan of the name... But interesting enough for a cheap buy-in.

    I don't think you'll be wrong going with LTC or even ETH if you decide to switch up, but just depends on how much you're investing/wanting to risk to see some nice gains etc.

    If you find any exciting ones or if you have any other questions let me know. I'm definitely still learning too, but have quickly found out a lot from the others here and from my own research.

    Also DBC that Math mentioned could be very interesting. It's only on Kucoin currently.
     
  3. Daddy Long Legs

    Daddy Long Legs H- Town Harden

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    Everything is mooning right now. All my investments are green. How long can this last? Lol.
     
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  4. LongTimeFan

    LongTimeFan Contributing Member

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    Get out now!!!! :)
     
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  5. CCity Zero

    CCity Zero Member

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    Haha, hopefully a long time :) I still need to find a coin that's 0.005 and moons :)
     
  6. Daddy Long Legs

    Daddy Long Legs H- Town Harden

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    Thats the dream. Some people became millionaires just by putting 70$ in verge when it was fractions of a penny and sold out when it was at its highest. Some of these coins are complete chit but can make you money if you play em right

    Ive been reading a lot about the dot com bubble lately. This kind of reminds me of it. We still have a long way to go IMO because we are still at relatively low market participation but I do predict that over half of these alt coins will completely fail at some point. The ones that survive will go hard though.

    Im just going to make sure that I make more than I lose and only put in non life changing amounts. Cant get too greedy!

     
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  7. Commodore

    Commodore Contributing Member

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    I'm biased, but all altcoins are garbage because their protocols can be altered.

    Bitcoin has the only three properties that matter (uncensorable transactions, immutable ledger, and a finite supply), but just as important, the protocol that enforces these rules has proven to be unchangeable.

    The best example of this is when 90% of the mining power attempted to unilaterally alter the protocol to increase the block size, and they failed.

    Bitcoin has been attacked relentlessly since its inception and refuses to change.

    No other coin can replicate Bitcoin's distributed consensus model and network effect. It was a once in history event. Creating an altcoin is like trying to create a new language, not gonna happen.

    Sure you can make money trading altcoins in the short term, but long term, they are all going to zero.
     
  8. CCity Zero

    CCity Zero Member

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    You think BTC will stand up to other alts that use less power consumption? I mean I think if BTC fell out Alts would die, and I don't disagree w/ you on your statement but just curious. BTC just is frustrating due to higher fees etc, but you're right its been there just fine.
     
  9. Daddy Long Legs

    Daddy Long Legs H- Town Harden

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    Don’t trust anyone who claims to be smart enough to have definitive answers on predicting this.

    We literally have some geniuses saying btc is archaic and will die to alt coins, some saying it will be digital gold that all other cryptos are based on, and some saying that alt coins will fizzle out and are only speculative investments based on jealousy of people that missed bitcoins rise.

    I think everyone can agree that blockchain technology is here to stay in some form or fashion.
     
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  10. Omer

    Omer Member

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    Got a friend that works venture capital in Silicon Valley. He mentioned Enigma, RChain, COSS. You guys know anything about these?
     
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  11. LongTimeFan

    LongTimeFan Contributing Member

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    Hadn't heard of COSS or Rchain.

    COSS appears to be an exchange -- assume this coin is similar to the ones used by binance and kucoin. Their value depends on success of exchange. Nice, clean looking exchange -- never heard of it before now.

    I'll have to look into Rchain more.
     
  12. Commodore

    Commodore Contributing Member

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    don't agree with this at all
     
  13. Daddy Long Legs

    Daddy Long Legs H- Town Harden

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    You think blockchain is just going to go extinct in society and no people or companies will utilize the technology for any purpose down the road?

    Thats a pretty extreme view IMO
     
  14. CCity Zero

    CCity Zero Member

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    Currently riding XLM/TRX...
     
  15. CCity Zero

    CCity Zero Member

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    Def will check out, thanks for info
     
  16. Fantasma Negro

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    Just a tip, the transfer fee for btc is a bit steep. Buy litecoin, transfer to your exchange account, convert it to btc buy alts. Total fee is like $5
     
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  17. Daddy Long Legs

    Daddy Long Legs H- Town Harden

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    Every single coin that im into has started with litecoin from coinbase.

    Not only are bitcoin transfers more expensive, they also take considerably longer so prices could’ve changed big time by the time you receive the transfer.
     
  18. CCity Zero

    CCity Zero Member

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    Yeah LTC all the way, hell even Eth but BTC.... Awful fees/time.
     
  19. Omer

    Omer Member

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    Yeah I got in on XLM today, good decision so far. Transferred LTC from GDAX to Binance to get it, took like 3 minutes and no transfer fee.

    What do you guys think about creating a Clutchfans Crypto Whatsapp group to discuss these things?
     
  20. Daddy Long Legs

    Daddy Long Legs H- Town Harden

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    Man cardano and stellar are treating me very well. Lets see how long this lasts.

    I wonder if ADA breaks a dollar this week.

    I want to drop more in while its trending up but I dont want to act sheepish or get greedy. I will wait for dips if I get back in if i get deeper into ADA

    They have to be due for correction soon though IMO.
     

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