Bitcoin/Cryptocurrencies – Digital Gold or Tulip Bulb?

(smehta) #188

Telegram ICO Destined to Break Records with $850 Million Raised in Pre-Sale:

Disc: haven’t bought / sold any Cypto.


@Sowmay - Gold has no intrinsic value but it has acceptance worldwide and it takes tangible effort to mine. So the key difference is “acceptance”. Gold has gone through centuries of human evolution and it is now perhaps in our genetic code to see value in Gold via natural selection.

The amount of deposits of Gold available on the planet weren’t determined by a human-being like is the case for cryptos and that adds more to its perceived value.

Other metals like Silver, Bronze or Platinum are valued based on their availability and acceptance and there are only handful of precious metals and no new precious metals are going to be discovered for we live on a finite planet. Problem with cryptos is anyone can set one up and every single one of them is lacking when it comes to “acceptance”.

Now coming to Diamond, I am sure you know how the diamond cartel works. If not, I suggest you go through this article - Have you ever tried to sell a Diamond

So the skepticism that equity investors Buffet/Bakshi et al. have towards cryptos is not misplaced, it is coming from decades of experience seeings fads and ponzi schemes come and go.

Now coming to the problem of acceptance for cryptos, I think they will find acceptance if they are backed by a major govt. or bank. That’s the unfortunate irony of it but that’s what it will take to get wider acceptance. I am quite hopeful for blockchain technology though.

(donbox5) #190

Article discussed here:

(Dinesh Sairam) #191


Awesome read.

(Alok Bhola) #193

(Alok Bhola) #194

The most recent crypto-crime trend: the ability to surreptitiously install illicit Monero miners on unsuspecting computers around the world. The worst part? Targets often are unaware that they’ve been hacked.

Cryptomining is both profitable and easy (enough) to mount. As a result, it is rapidly replacing ransomware as the crypto-related cybercrime of choice.

A large number of compromised devices working together is known as a botnet. The Monero mining botnet is extremely large, made up mostly of Microsoft Windows servers spread around the globe.

(Alok Bhola) #195

(Capsule91) #196

The whole bull run in bitcoins has ended today after google bans crypto ads, when a weekly trendline was broken after a mightly fight of the bulls and the bears happened for the trendline , and untimately the bulls gave up…
Where ever the prices goes from here, the acceleration we saw in the trendline is gone,and now, we will see a downtrendline acting as a resistance…

Also note the peculiar pattern, that the daily trenline broke on the day of the FB ban news and this weekly trendline on the google news…

We are entering a new era, where i like to believe, the bubble is bursting slowly…


This is the most hillarious way to share this with your friends on what is Bitcoin!!! :joy::joy::joy: