Discussion in 'world politics, current affairs and news' started by camouflage, Dec 25, 2010.
Yeah fair enough. Some early cars were electric too!
It'll need a real alpha bully to go ..this is the route we're going down
I get the point being made but a lot of the early car manufacturers, long before Standard Oil, did fine - Karl Benz etc.
I don't know if any of them have overcome the mining problem. Far as I know all the main ones use a similar formula. All of those will go - it's not a case of petrol vs coal vs electricity, it's all of them disappearing.
Isn’t the whole crypto currency thing a bit like anarchy. In that there are some good ideas, but for it to work needs some sort of regulation, but that’s the one thing that they don’t want, so ultimately it’s an unworkable model.
Isn't car manufacturing more like the dotcom bubble - new technology that would go on to be huge, with loads of competitors, most of whom went to the wall, those that were left turning into giants.
This isn't even that, imo.
Totally on a tangent but I just learnt this so:
Did You Know .. William Rockefeller (father of the famed John d) was a conman snake oil salesman who claimed his concoctions could cure cancer.
I stand to be proved wrong as blockchain technology enters all kinds of areas of life, but I can't get excited by its possibilities. I don't see it as transformative. Also, it's the only good idea in this mess. The rest of it is all terrible.
Not exactly, because it took place long before globalisation, so there was a lot more room for each nation to have at least one manufacturer, even if not competitive overall, and a lot of those lasted indefinitely until mergers and acquisitions bundled them up into something else. Look at the history of contemporary car mfgs, Tesla aside, and most go back to late 1800s or early 1900s in some form. Of course, we don't remember the minnow losers, so it's a little skewed.
In comparison the dotcom boom was more straightforward free market gold rush with a very high number of casualties.
And in comparison to the dotcom boom, cryptoshit is just a con.
So were many dotcom propositions from an investment perspective - no point talking about theoretical use value if it never stacked up at all. OTOH, obviously some dotcom survivors make up internet fundamentals like eBay.
But contemporary crypto is, certainly once it'd been turned into what it is now as a mass trend, closer to a pure con.
that's over a year not 24hrs, sort your info out
According to these its been a steady increase in users - seems peculiar given the rash of adverts that appeared towards the close of last year.
Number of Blockchain wallets 2017 | Statistic
Blockchain Wallet Users
It shows 24 hr volume at the bottom, but I couldn't find info about whether that was volume by usd or by bitcoin numbers. If it's btc numbers, then Yossarian is right that there was a big influx of money towards the end of last year.
Looking at it again, it does seem likely that it's bitcoin numbers rather than usd value.
the graph is from 2 jan to 4 dec
and has 1yr selected at the top
The bar chart shows volume per 24 hours over that year.
It covers the period from 6 Dec 2016 to 6 Dec 2017
You can explain exponential growth in price from linear growth in buyers. There are many bitcoin hoarders, so a steady increase in demand could lead to a rapid increase in scarcity.
As for all the ads, etc, there is an absurd amount of bullshit around about bitcoin.
10.4 million users @ Dec 16 -> 19.7 million users Dec 17
It hardly surprising there are more transactions...
Did you hear John Humphries this morning utterly failing to get with grips with it whilst being told by people with a vested interest in flogging cryptocurrencies that crypto was definitely the future of finance? Humphries was lapping it up and not challenging a single piece of their bullshit.
So that's nearly half the punters out of pocket...
Oh yeah, shit, sorry about that.
Current price is the same as it was mid November 17 - you would be out of pocket if you bought after that
I think this is where block chain will change things
Britain's £1m and £100m banknotes
And as such it'll be a closed code written by /for banks rather than a free lunch for some chancer early adopters
True right now. But it is the nature of such a speculation bubble that it is a zero-sum game. Anyone who's made a profit has done so at the expense of those left holding the tokens at the end. In this case, it's even worse than that due to the mining costs, so the overall real-world wealth available to be shared out equals all the money used to buy bitcoin minus the mining costs.
Edited: transaction fees are paid for in bitcoin, so those are not more money coming in.
And now October 29.
On Sunday it was down to £5700, looked about 5 mins ago & it was £4300, now back to £4500, so all over the place.
Has anyone got 2 BTC they don’t want? I need to get a coffee on the way to work!
It will continue to bounce around, there is no 'it's gone bust' hard stop on the thing, but obviously the trend is significantly downwards. Two important things have happened: a lot of people will have been burned now, and the meteoric rise that it was sold on the back of is toast, so it makes it harder to market. Not completely, just iteratively so.
I wouldn't be surprised if there were further big rises but it doesn't change anything. Obviously no point trying to buy the dip either unless you have a very good handle on global consumer stupidity.
back to being the default currency of drugs , kiddie fiddlers and nazis then.
Not even that if its value is so unpredictable. Just use Monero or something (although that may ultimately be the same, haven't looked at it in detail)
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