What is your take on Cryptocurrencies?

Discussion in 'Intellectual Talk' started by EfficientNinja, May 4, 2018.

  1. EfficientNinja

    EfficientNinja New Arrival

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    Hello everyone!

    We all know that cryptocurrencies have been the talk everywhere on the internet. Almost everyone is aboard the hype train and are throwing money to invest on different Altcoins and even ICOs. How about you? What is your take on Cryptocurrencies?

    Have you invested money in it? Or are you resorting to a safer investment vehicle like publicly traded stocks or government bonds?

    I would like to know your thoughts.
     
  2. MasterA

    MasterA Administrator Administrator

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    Indeed, cryptocurrencies started hyping up a lot recently and I personally invest into them. I only invest into altcoins and I don't normally touch ICOs because there are a lot of ICO scams out there and I prefer to wait for them to reach exchanges and see some progress before buying the coin. Cryptocurrencies can be extremely rewarding due to its volatility but it is also very risky. I don't like the safer investment options as they are less rewarding and you probably need to spend around the same amount of time doing research.
     
  3. Corzhens

    Corzhens Addicted

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    I work in a bank so I am conscious when it comes to security and safety of my investment. Crypto currency is not very clear to me because no one could explain the concept - who or what dictates the value, who or what creates the crypto currency, how they earn when you mine crypto currency.
     
  4. Carlos X

    Carlos X Up-and-Coming Sensation

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    I'm staying far away from these currencies. There's a lot of scams going on lately.

    Not only do I not understand it, I also am very weary about these new currencies. I am all for new and emerging currencies, but most of the concepts I learn about these coins are that it's stupid. I mean, why the fuck does it need electricity to "power" or grow a currency?
     
  5. Jason76

    Jason76 Packager Package Team

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    Cryptocurrency name:

    How about James Bond $$ ? :cool:

    :woot:

    It's fuel for criminals (identity theft) and terrorists!
     
  6. Sarah15

    Sarah15 New Arrival

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    I would love to learn more about it and start investing, but I am really confused about the whole topic.
     
  7. Azareal

    Azareal Addicted

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    There's a rumour that they might be against the GDPR.

    Everyone and their grandma seems to be setting up a crypto-currency, these days. In fact, let's do one for FP Coin. Set up a block-chain and everything. FP Coin will be the one coin to rule them all.

    The theory is that the banks and the government are evil, therefore crypto-currencies are needed to liberate us from their tyranny. Or something. Which works right until someone steals your Bitcoin wallet and you have no recourse.
     
  8. Carlos X

    Carlos X Up-and-Coming Sensation

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    Yeah, but you'd need to spend thousands of dollars just to maintain the electricity, the servers, your hard drive (appearently), and whatnot.

    It's just too many headaches. And that money can easily be stolen just by a physical hard drive. I saw an NCIS: LA episode, that specifically paints a scenario about Bitcoing/crypto. Basically, anyone can just waltz into your server building, and steal your money.

    I'm all for digital currencies, just that we need a better model for currency. Bitcoin/crypto will fail once people realize just how bad they are. I mean, we're (bitcoin/crypto owners) consuming more energy than the country of Ireland. We need that energy.
     
    Last edited: May 21, 2018
  9. Azareal

    Azareal Addicted

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    I was joking lol

    Setting a crypto-currency here would be a very bad idea. And it's not just digital currencies which are a problem either, but the entire block-chain ecosystem, they want to extend this to all sorts of things like even running websites.

    I couldn't think of a better way to land us several miles under the oceans when the icecaps melt. Well, probably not that exaggerated, but nothing like pumping tons of pollution into the atmosphere to spread out smog everywhere. Just so, we can get that block-chain goodness.
     
  10. Carlos X

    Carlos X Up-and-Coming Sensation

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    Oh, I see. lol. :oops:

    Yeah, that sounds like a bad idea - running blockchain on websites. :expressionless:

    It's like you can steal a website and the money at the same time. *slowly whistles*
     
  11. Jason76

    Jason76 Packager Package Team

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    A lot of people are setting up forums about crypto, but forums are dying. But maybe this is some niche bucking the trend.
     
  12. Carlos X

    Carlos X Up-and-Coming Sensation

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    Forums are dying, but not by the hyperbolic "Armageddon" people have you to believe. My forums are growing regardless of the "death of forums." I just launched a new Battlefield 5 forum and got my first user - out of the gate. The fact the domain is old is irrelevant. All you need to do is position your forum for a niche that's about to come flying down.

    A lot of people don't realise that the choice that you make for a forum has a lot to do with the success of that forum. The way forums used to work in the past, aren't working TODAY. For example, any owner running vBulletin is beating a dead horse. Any owner running a MyBB forum is beating a dead horse. This is because the way they code their SEO is dead. For a lack of better way to put it: The "code" is compatible with a previous version of a search engine.
     
  13. Sarah15

    Sarah15 New Arrival

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    I agree with you. The ones that don't evolve in time with everything happening around are a lost cause. I feel like now, people are using more and more forums because the info on there can't be as filtered as it is on other platforms, plus you have the opportunity to give your take on topics. Sadly, you can't do it anywhere else. Some forums blow up on social media because they are full of controversial topics, that's what interest today society. So in my opinion, admins have to learn to adjust.