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Other Cryptocurrency

Discussion in 'General' started by MLyons, 6 Dec 2017.

  1. Arboreal

    Arboreal Keeper of the Electric Currants

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    Thanks Gareth for your unsurprisingly critical assessment, very interesting to see and as I suppose I expected.
    Quick, get that disposable email address fired up - and the key for the spam tin!
    Dreamland...

    Wakka, loads of scrabbling for market but too little business to go round.
     
  2. VipersGratitude

    VipersGratitude Multimodder

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  3. Ferino

    Ferino Minimodder

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    Just reading something on facebook new cryto. Anyone have any thoughts on this. If it's going to take off big would love to be on the ground floor of this for a change. Any of the more savy crypto guys on here already bought in?
    Cheers
     
  4. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    You can't buy in, because it doesn't exist yet - and might not ever exist, given the EU doesn't like it, backers may be pulling out, and Facebook has more pressing matters to worry about.
     
  5. Ferino

    Ferino Minimodder

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    thanks for the info. I had just read something that came up in my feed saying they had started trading and had already increased in price. Went back to look for it and no sign of the article. Think I am suffering hallucinations. Time to cut back on the caffeine intake. Thanks for the articles though. Interesting reading.
     
  6. edzieba

    edzieba Virtual Realist

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    Libra isn't launched yet, so there's nothing to buy.
    There's quite a bit of confusion around as there are kind of two separate-but-related things intended to be released:
    - Libra the currency & processing network. This is intended to be a semi-pegged currency (rather than tracking USD like USDT, it will track a collection of international currencies, stocks & assets. Like the well-regarded Vanguard funds), and is controlled by a consortium (Calibra) of members who 'buy in' at a very high price in order to create the initial asset pool, of which Facebook will be one member. The blockchain network will initially be centralised-ish and operated by this consortium (akin the the EMV system, BACS, SWIFT, etc), with the intent to transition to a decentralised processing model at a later date.
    - The 'Libra wallet' that is to be created by Facebook. This is like the Bitcoin client, and would be one of many different clients (just as Bitcoin has several different clients). As this would not be a processing node of the network itself, it has no power over the direction of the network unlike a Bitcoin full node (the consensus protocol at launch only operates among the validators who have bought into the backing portfolio).

    As a network the most interesting points are that it has buy-in from Mastercard & Visa (and Paypal & Stripe) - which covers almost every online and offline consumer transaction - and is pegged to an international fund tracker rather than a single national currency. centralised vs. decentralised may be a philosophical bone of contention, but in terms of practicality its a wash: if the network works, it works, nobody gives a monkeys if EMV is centralised or not when they use it every day (or whether your bank is connecting using a network of virtual servers of a VAX in a basement). The Facebook-branded client is also a red herring: not only is there an open-source Libra implementation as the baseline, but multiple client implementations to the draft spec already.
    With its nature as a backed currency, it's not really something to 'invest' in like you might with Bitcoin et al and expect a 'Libra coin' to be worth more in the future. Instead, it would be something like low-barrier-of-entry Forex trading: other currencies may fluctuate against it so (for example) if you expect GBP to tank relative to the rest of the world economy you could buy Libra with GBP now, then sell your same amount of Libra for GBP once the GBP price drops. This works out well for using Libra as an interchange currency, but not as a passive investment medium.

    You can play with the testnet or set up your own testnet, but nothing is live yet.
     
  7. Yaka

    Yaka Modder

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    not been keeping tabs on it but just read on the beeb its hit $30k. not bad at all for those that have been dabbling in it
     
  8. Trance

    Trance Two steps forward, one step back

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    Yup and I decided to sell all my eth late october after holding for years because it looked like it was going to go down again... sigh
     
  9. MiNiMaL_FuSS

    MiNiMaL_FuSS ƬӇЄƦЄ ƁЄ ƇƠƜƧ ӇЄƦЄ.

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    I waited until I remade my losses from 2019 when I didn't cash out quick enough.

    Happy to get £2,000 back that I had long since written off.

    I'll wait until the next big crash and buy a little now we seem to have established more of a cycle.

    If you plan to dabble, keep a close eye on the dollar values. When it hits symbolic marks it tends to fall away sharply. Today it hit $40,00usd exactly and fell, but if I were to guess I think it'll rise to $50,000usd and then collapse again as people sell at a imagined target. That's essentially what happened in 2019.
     
    Last edited: 10 Jan 2021
  10. Hamfunk

    Hamfunk I AM KROGAN!

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    I'm still waiting to remake my losses! :hehe:

    Currently sitting at 60% which is a welcomed change from the usual 30% i've been looking at for most of 2020.

    Boy did i get on the wrong hype-train!
     
  11. MiNiMaL_FuSS

    MiNiMaL_FuSS ƬӇЄƦЄ ƁЄ ƇƠƜƧ ӇЄƦЄ.

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    Eep, you joined the train late in 2019!

    Looks like people chickened out sooner than I expected, it hit a high of $42,000 before starting to fall. I'll be interested to see if it still reaches the $50,000 I expected.
     
  12. Hamfunk

    Hamfunk I AM KROGAN!

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    I think it was late 2018/early 2019 but the real problem is I bought up loads of over-hyped sh1tcoin..... It's a diverse portfolio, but mostly worth pennies!
     
  13. Byron C

    Byron C Official Necromancer

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    I have some FUN you can buy if you like? It's only dropped from about $0.17 when I bought it to $0.008478... :grin:
     
  14. wyx087

    wyx087 Homeworld 3 is happening!!

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    Same, I invested £100 for LOL’s at height of early 2018. Before the 2018 crash. All transferrd to a lot of smaller alt-coins. Now still worth less than £100

    I think if you currently own any Bitcoin, now is a good time to sell. Then check again in a few months time to re-invest after the inevitable crash.
     
  15. MLyons

    MLyons 70% Dev, 30% Doge. DevDoge Staff Administrator Super Moderator Moderator

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    [​IMG]
     
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  16. wyx087

    wyx087 Homeworld 3 is happening!!

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    No no no, gotta game the market. We can make money of this!

    [​IMG]
     
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  17. Trance

    Trance Two steps forward, one step back

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    Ha shitcoins, yeh I have 100000 BTCZ, was worth £0.014 (£1400 total) in Jan 2018, now worth £0.000052 (£5.20 total), at least I mined it not bought it I guess...
     
  18. mrlongbeard

    mrlongbeard Multimodder

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  19. Yaka

    Yaka Modder

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    every time bit coin prices surge that guy is always trying to recover the laptop. feel for him but even if he found the laptop would the data be recoverable?
     
  20. Byron C

    Byron C Official Necromancer

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    Yeah that guy comes up in the news every couple of years... At this point I don't doubt that he's genuine but I have serious doubts as to whether the data is recoverable.

    But then, Atari 2600 cartridges were dug up from a dump in New Mexico after 30 years - no doubt some of those have now been restored to (somewhat) working order: https://en.wikipedia.org/wiki/Atari_video_game_burial
     

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