Investing

Bitcoin and Ether

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  • Oct 23rd, 2017 12:44 pm
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Deal Addict
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Dec 14, 2010
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Buggy166 wrote:
Aug 8th, 2017 7:35 pm
There are corporations already investing in the tech, but 1 thing that makes coins viable is the lack of restrictions or regulation.

As soon as banks and governments start grabbing at crypto currency trying to control it, the current user base will disperse like cockaroaches when you turn on the light.

Crypto currency is the anti-fee, anti-banking system. A bank running their own chain is a joke for anyone who's invested in crypto in the first place.
Yep, and yet Falcon Private Bank is offering its clients to purchase and store bitcoin on their behalf :facepalm:

http://www.fintech.finance/01-news/firs ... o-clients/
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Penalty Box
Aug 26, 2001
15733 posts
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Syne wrote:
Aug 8th, 2017 7:34 pm
You're right that the EAA includes banks, as I'm sure they are keeping a close eye on this, and would monetize it if it were possible. The problem is that even if Scotia could offer a private blockchain solution to its customers, why would the public take it over an open source solution with no fee structure attached to it? Banks have always been a middle entity for commerce and trade.
Why do people still open "savings accounts" at Big 5 banks, rather than find better venues to park their cash (whether it be HISA at a virtual bank/credit union or whatever)?

There are always going to be those who want the "security blanket" of a Big 5 bank, so it makes sense for a Big Bank to offer a "blockchain option".
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Oct 23, 2003
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konfusion666 wrote:
Aug 8th, 2017 11:41 pm
Why do people still open "savings accounts" at Big 5 banks, rather than find better venues to park their cash (whether it be HISA at a virtual bank/credit union or whatever)?

There are always going to be those who want the "security blanket" of a Big 5 bank, so it makes sense for a Big Bank to offer a "blockchain option".
You mean why do people still use fiat money? Lol i dont have the time to go down that rabbit hole of 50000 pages of discussion.

Banks can do whatever they want, but the whole reason crypto is popular is because banks and governments do not control the market.
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Oct 23, 2003
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rodbarc wrote:
Aug 8th, 2017 11:37 pm
Yep, and yet Falcon Private Bank is offering its clients to purchase and store bitcoin on their behalf :facepalm:

http://www.fintech.finance/01-news/firs ... o-clients/
You can facepalm all you want, thats no different than the other ones before it, that acted as vaults.

No one with a ton of bitcoin, like the owners of Bitmain for example, would stash they coins in the purse of a 3rd party. Just because some people might be stupid enough to expose themselves to it, doesnt mean the entire market is.

Like i said, banks can do whatever they want, as soon as the crypto market gets caught under government regulation, the rainbow road stops.
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Nov 9, 2013
1852 posts
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Edmonton, AB
Syne wrote:
Aug 8th, 2017 6:34 pm
Yes. It's the reason government intervention was required in order for Bell/Rogers to eliminate 3yr wireless contracts. Even though those contracts were terrible PR and pissed customers off to no end, they were securing shareholders money in a closed market. They were powerless to fix it. This rigidity (short term and/or record profits) has killed many businesses. They are powerless to do anything, even when salvation is staring them in the face.
This shows pricing power - it demonstrates the strength of the business. If you are an investor, you want this. If you are a customer, you loathe this. Ultimately businesses (and their shareholders) want to be strong and maintain their pricing power. They will generally do anything (legal and even sometimes illegal) to maintain this position.
Syne wrote:
Aug 8th, 2017 6:35 pm
They can. They just won't.
Syne wrote:
Aug 8th, 2017 7:34 pm
You're right that the EAA includes banks, as I'm sure they are keeping a close eye on this, and would monetize it if it were possible. The problem is that even if Scotia could offer a private blockchain solution to its customers, why would the public take it over an open source solution with no fee structure attached to it? Banks have always been a middle entity for commerce and trade.
So the big banks won't do it but BNS is?
Buggy166 wrote:
Aug 8th, 2017 7:35 pm
It costs pennies to the dollar to USE, not implement. Implementation costs 10s of millions of dollars for a solid blockchain network to be developed.

Imagine VISA charging $0.001 per transaction. They'd go bankrupt, never mind post profits. Current corporate structure does not allow for overnight blockchain implementation.

There are corporations already investing in the tech, but 1 thing that makes coins viable is the lack of restrictions or regulation.

As soon as banks and governments start grabbing at crypto currency trying to control it, the current user base will disperse like cockaroaches when you turn on the light.

Crypto currency is the anti-fee, anti-banking system. A bank running their own chain is a joke for anyone who's invested in crypto in the first place.
To be honest I think this is why crypto will never go mainstream.
Newbie
Feb 1, 2017
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The reason why a private blockchain won't work is because of security.
Deal Guru
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Dec 7, 2009
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konfusion666 wrote:
Aug 8th, 2017 11:41 pm
Why do people still open "savings accounts" at Big 5 banks, rather than find better venues to park their cash (whether it be HISA at a virtual bank/credit union or whatever)?

There are always going to be those who want the "security blanket" of a Big 5 bank, so it makes sense for a Big Bank to offer a "blockchain option".
I'd like to think that those people are dying.
In a perfect system, corporations would fear the government and the government would fear the people. - David Wong

Check out caRpetbomBer's picks in this thread.
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Dec 7, 2009
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Buggy166 wrote:
Aug 8th, 2017 11:43 pm
Banks can do whatever they want, but the whole reason crypto is popular is because banks and governments do not control the market.
Buggy166 wrote:
Aug 8th, 2017 11:46 pm
No one with a ton of bitcoin, like the owners of Bitmain for example, would stash they coins in the purse of a 3rd party. Just because some people might be stupid enough to expose themselves to it, doesnt mean the entire market is.

Like i said, banks can do whatever they want, as soon as the crypto market gets caught under government regulation, the rainbow road stops.
If banks and government don't control the market, then regulation will be difficult. The best a government can do is regulate the choke points where fiat is converted back n forth (Quadriga, Kraken, etc.). Once businesses start accepting crypto however, the government will need to overhaul tax regulations and taxation itself will need to be part of the blockchain fabric. Specifically, what constitutes a 'taxable event' will need to be changed, as crypto moves more fluidly than cash and there is no real distinction between a purchase and an investment.
phisherman wrote:
Aug 9th, 2017 11:54 am
The reason why a private blockchain won't work is because of security.
I think the reason a private blockchain won't work is because there's no value it can add to the consumer over a public one.
In a perfect system, corporations would fear the government and the government would fear the people. - David Wong

Check out caRpetbomBer's picks in this thread.
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Jan 3, 2013
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Frank2029 wrote:
Aug 4th, 2017 8:36 pm
Not sure what's so funny about a 10% gain in a couple days?
The funny part was that he was chastizing me for holding my bitcoins and not selling before the Aug 1st fork. He had the bright idea that BTC was going to tank and that he was going to pick up coins for super cheap and was laughing at me for holding. What happened you ask? Bitcoin went from $3200 to $4500 and the fork did diddley squat. I seriously doubt ANY claim he has to buying at any low....if anything, he lost out big time and now has to buy in much higher if he still wants to play.
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Jan 3, 2013
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Sidney
irishguy wrote:
Aug 4th, 2017 7:53 pm
Aww favelle75 so cute that your seeking me out and wondering how I'm doing I'm touched Smiling Face With Open Mouth. Yes I bought again @194 and sold @ $223 for a small profit of about $2200...how u doing? Still holding at $250 from months back?
I still have my ETH from ~ $260....and its now $380. Gain of $120/260....AKA 46%. Not too shabby. I also mine about 0.1 ether a day...around $35 worth.
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Dec 21, 2007
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Scarborough
favelle75 wrote:
Aug 10th, 2017 12:53 am
The funny part was that he was chastizing me for holding my bitcoins and not selling before the Aug 1st fork. He had the bright idea that BTC was going to tank and that he was going to pick up coins for super cheap and was laughing at me for holding. What happened you ask? Bitcoin went from $3200 to $4500 and the fork did diddley squat. I seriously doubt ANY claim he has to buying at any low....if anything, he lost out big time and now has to buy in much higher if he still wants to play.
Actually the fork also gave you free BCC, which although not worth a ton, was free money.
I am the Stig's brother's cousin's friend's former roommate.
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Dec 21, 2007
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favelle75 wrote:
Aug 10th, 2017 12:56 am
I still have my ETH from ~ $260....and its now $380. Gain of $120/260....AKA 46%. Not too shabby. I also mine about 0.1 ether a day...around $35 worth.
What are you running that makes 0.1 ETH a day right now (with current difficulty)? Must have cost a fair amount...my gaming PC has a 480 in it, and only mines 0.005/day right now (was 0.01 before the last difficulty spike).
I am the Stig's brother's cousin's friend's former roommate.
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Feb 17, 2012
433 posts
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Toronto
Syne wrote:
Jul 24th, 2017 3:35 pm
So today marks my 2 month anniversary experimenting with crypto. I want to share a few things I've learned during this time.

1.) This isn't going away. As Vitalik Buterin said over the weekend. Crypto has become a "honey badger". The sleep phase is over.

2.) When it comes to money, normally rational people lose their minds.

3.) ICOs have a bad reputation but a few of these projects will become blue chips over the next year, just like the Ethereum that made them possible. Expect the top 20 to get shaken up quite a bit.

4.) Further to my last point, I truly believe picking winners can and will make a lot of people very rich.

5.) If you follow Slack, Telegram, Github, Twitter, Reddit AMAs, etc. you can often get valuable insider info before it releases.

6.) Maxims like "Do your research", "spend only what you can afford", "buy the dip", etc. are fine, but context is everything. Figure out a plan and don't rely on catch phrases to guide you.

7.) $CVC (long term hold)

Looks like you were bang on with #7. +200% since yesterday
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Dec 7, 2009
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Frank2029 wrote:
Aug 11th, 2017 9:09 am
Looks like you were bang on with #7. +200% since yesterday
Thanks man. I put a lot of work into my analysis. It's nice to get recognized.
In a perfect system, corporations would fear the government and the government would fear the people. - David Wong

Check out caRpetbomBer's picks in this thread.

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