2 of the Biggest Cryptocurrency Exchanges are Experiencing Issues

Mchart said:
Non-Sense. This is ignoring the reality of quantum computing soon being a real thing. Once Quantum computing arrives (Which is maybe a decade away at this point) Bitcoin will be fully mined within a matter of days.
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You quite obviously have absolutely no idea, what quantum computing is or can do, but you read a headline about it somewhere.
 
quantum computing in the way it is done now is nothing but branding.

nothing quantum about those computers.
 
Wolf_Tech said:
What Bubble? 21 million bitcoin period they cannot make any more. Its math. US dollar is a bubble they can print more of those.
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When the price of bitcoin or another established coin gets too high people introduce new coins to mine and trade up with...
 
Jadawin said:
You quite obviously have absolutely no idea, what quantum computing is or can do, but you read a headline about it somewhere.
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Every major government is in a race right now to build a functioning/practically useful quantum computer to break encryption along with the encryption potential it brings. It's one of the key technological races right now.

Must be that fake news/headlines.
 
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If i had (I don't!) 1000 bit coins from ages ago and wanted to cash them out into $US or another currency, is that possible at the moment? Would you actually get $10m in to your bank account?

I can completely admit that I don't really understand Bit Coin and why people are obsessive about it. i get trading money for goods and services and that fiat currency is what we use these days to make the trade with. But if very very few people want to exchange their goods or services for a virtual currency whats the point?
 
tetris42 said:
For everyone who thinks it's a bubble, riddle me this: what is roughly the true value of bitcoin?
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No one can really say for sure since you can't really price or measure risk in any of these digital currencies nor is there any real equivalent to a CB that can regulate its value by design. Given that you can buy some real world goods with it its safe to say it has some value but that is it. Some guy spent thousands of Bitcoins to buy pizzas several years back for instance.

I'd point out that other currencies historically speaking have dropped to zero in terms of value. Even ones that had nothing to do with governments. Back in the Wildcat Banking days in the US it wasn't all uncommon to happen if the bank that backed the currency went bust or if the currency got rejected by other banks due to back room deals or fraudulent activity. Things like name recognition aren't guarantees of value or worth either BTW.

tetris42 said:
In order for it to be a bubble, it has to crash to the actual market price. So, bitcoin could be in a bubble, or it could be Amazon stock in the late 90s.
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Ah but its a currency, or supposed to be anyways, not a stock so you're well into apples v oranges territory there. If you still really feel like it should be compared to stocks then I'd point out that some stocks have dropped in value to 0. Even during the housing bubble in some instances things like CDO's and MBS's that supposedly had AA or AAA ratings crashed to zero.

Realistically given the ridiculous spikes in price without any accompanying significant reasons + the rather obvious and shady stuff going on with some of the exchanges its pretty clear cryptocurrencies like Bitcoin are in a bubble.
 
Summoner said:
I can completely admit that I don't really understand Bit Coin and why people are obsessive about it.
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Numbers keep going up + the possibility of using their PC to strike it rich. Its a mania and so the reasons aren't really rational. We saw the same degree of BS with the housing bubble in the US not all that long ago and no one learned a damn thing.
 
mesyn191 said:
Numbers keep going up + the possibility of using their PC to strike it rich. Its a mania and so the reasons aren't really rational. We saw the same degree of BS with the housing bubble in the US not all that long ago and no one learned a damn thing.
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Well the problem with that was that people were using homes to flip into currency. Buy a home for 300k, sell it next year for 400k, that kinda thing. Point is the house had value in USD and that is what people were hoping to get out of it. People need to remember that BTC is not meant to be converted into USD so you can go buy a car or flatscreen TV or whatever. It's supposed to be a currency unto itself. You want that Tesla? Then pay for it in BTC by sending them 8.189319 BTC for example. So as long as the only reason BTC exists is for people to cash in for USD so they can buy shiny things then yeah it could crash. But the originators wanted a future where people exchange BTC for goods and services just like you do with USD. Your employers could pay you in BTC, you could buy a house in BTC, etc. It's getting closer to that point.
 
nysmo said:
Point is the house had value in USD and that is what people were hoping to get out of it.
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The currency didn't matter in the house flipping scam. It could've been sold in BTC, Euros, or Pesos and house flipping still wouldn't have made sense at all or have been possible in a non-bubble economic environment.

The currency doesn't matter in the slightest when the whole deal itself is based on "The Greater Fool" buying the property from you at a higher price irrespective of their income, debt load, etc.

nysmo said:
It's supposed to be a currency unto itself.
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Supposed to be but its not in practical terms. That is why people keep treating it like a .com bubble stock. You can't have that sort of volatility in value with a currency. The long transaction times, high transaction costs, and shady nature of all the exchanges on top of that make it a pretty piss poor currency at best.
 
IcePickFreak said:
Huh? Plenty seen those bubbles, but that's didn't stop the people making out on the situation by wringing every last dollar they could out of it. I mean if it's legal it's game on right?

And yes it's most definitely a bubble. That doesn't mean I think it's going to pop tomorrow though or anytime soon for that matter. There's a lot of variables.

However, when a person can essentially consume electricity and the only thing produced is money - more money than a huge chunk of the world's population can, doing actual work - you're lying to yourself if you think that's sustainable. Someone's still gotta make the shit you're gonna buy with your new fortune, mow your mansions lawn, keep the electricity flowing, ect.

No, I don't mine, and no I'm not salty, I'm fine right where I'm at. I just find this interesting from a sociology viewpoint. Funny how people's perception of a situation changes depending on whether they're on the winning or losing side.

And sorry in advance for attempting to have a normal discussion from different viewpoints on a message forum, I know how that's unacceptable to quite a few these days.
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RayderR6 said:
ScottSummers answered you well. Many people can and do see both and even know when (1913) and why (banksters) our present currency started its BS (maybe for its final time), but you just go ahead and keep regurgitating your tired line about us "people".



Yes, just like houses were in a bubble (history repeated), it popped, people lost equity, went broke, foreclosures happened, people walked out on loan obligations, taxpayers and banks (banks aka more people aka shareholders aka customers) paid for much of it. Most important fact to come out of it NOBOBY LEARNED A FUCKING THING AGAIN, the shit just reflated faster than ever before based on the BS that was pulled just to keep the so called economy going. Most economies (money) are nothing but bubble and burst now, separating the winners and losers even faster than ever. Work is not the driving force to wealth as it once was, unless you consider work to be scheming and/or luck in one or more of these bubbles.
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If you both see it, then I was not talking about you was I? Nor did my post have to do with anything else yall are saying. My point being that the "business" sites that love to harp on BC as a bubble are also the ones who went on for years with their fingers in their ears about much bigger issues.
 
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