BTC != Blockchain as a technology. The tool, and its potential uses, are more important than its current product(s).
![[H]ard|Forum](/styles/hardforum/xenforo/logo_dark.png){kind=logo}
Cryptocurrency Teaches Novices Hard Life Lessons About Investing
- Thread starter cageymaru
- Start date
BTC != Blockchain as a technology. The tool, and its potential uses, are more important than its current product(s).
DeathFromBelow
Supreme [H]ardness
- Joined
- Jul 15, 2005
- Messages
- 7,315
Retronym
[H]F Junkie
- Joined
- Mar 5, 2007
- Messages
- 13,605
you dont have to install anything
I tend to use them interchangeably as I am not aware of any blockchain tech examples or use cases that beat out a typical distributed database setup using client / server apps.
Have any examples of a potential use that can't be done easier and less complex using the typical database / app server setup that pretty much everything runs on nowadays? Everyone always mentions blockchain tech, but I have yet to see a single example where it is useful other than cryptocoins.
https://www.rcrwireless.com/2018021...-platform-based-on-guardtime-technology-tag27
Useful and efficient, maybe two different criteria. In any case, I cannot make a good argument that it is currently the right tool for any one task. I am only stating that it is a tool that aught not be discarded out of hand.
My point is it doesn't matter why, or how, they are using it, it confers no value on to any of the existing crypto coins, including Etherium. If banks start using blockchains internally or between each other for transaction logs and non-repudiation that's all well and good, it does not confer any value to the coins people are wildly speculating on. The banks don't have to buy those, they just use their own blockchain, that they control.
The technology is neat and useful, doesn't mean that a given implementation is worth any money. A not exactly analogous situation but something that is similar: C/C++ code underlies almost all modern computing, it is extremely widely used particularly by performance critical things like OSes. However that doesn't mean that having a C compiler is worth anything. If you wrote a new C compiler, it isn't automatically worth a lot of money, just because C is used a whole lot.
D
Deleted member 93354
Guest
Then anyone who has a 401k / 403 / roth / hsa should be shiting their pants.
It's about managed risk. Even under worst case monte Carlo analysis I'm at 105% retirement targets.
Retronym
[H]F Junkie
- Joined
- Mar 5, 2007
- Messages
- 13,605
Unfortunately, for many people it's also a required risk. It's a middle class myth that you can save your way to your retirement goals, you can't. You can invest your way there, but you can run all the simulations you want, you simply won't make enough money to save your way there without taking market risks.
Now you can take well managed risks and that's basically what "modern portfolio theory" says, diversify and don't get greedy. Basically, I like to call it betting on civilization. I may not make the big bucks on bitcoins and other bubbles, but I won't take their losses either. In general, if all markets have gone belly up, civilization has serious problems and a comfy retirement is probably the least of my worries....it's bullets and beans time!
Again, there's lots of differences between speculation and short term gains, vs investment and long term gains. Are you betting a bigger fool will come around to pay you more? Or are you spreading your bets and risk across lots of companies and markets? People like to say that the non-inflation adjusted return of the S&P 500 portfolio over X years is about 12% and inflation adjusted is closer to 8%. Subtract about another 1% for fees unless you've gone the low cost options like robo-advisors. Side note, I'm actually fan of Betterment. What everyone forgets is that half of that return was actually dividends, not growth.
Companies are money pumps and you're buying a piece of one. Generally, we can't loose this money, so the best bet is to spread it out and bet on civilization. After that, just keep adding money and don't worry about the booms and busts. Just ride it out.
Have you seen the FIRE stuff where you take each historical year as retirement date for you and see how your retirement investments would fair? MC is great too. All tools in the toolbox.
As long as you don't put borrowed money in your 401k, and you don't put everything into a single investment, you shouldn't have much to worry about.
Not in my experience and not what was being advised to me via the 'trading websites'. Hence why I just walked away.
It's a mess.
harmattan
Supreme [H]ardness
- Joined
- Feb 11, 2008
- Messages
- 5,129
I'm very much tip of the spear in this space. This was a POC within JP that converted into an Ethereum-backed Bond issuance. As a side notes, the guys who did this, Crowdaura/Nivaura are smart chaps... The type pf lumieres who are going to bring Blockchain to the forefront of the Finance industry.
Many other banks are looking or far along with debt issuance and a myriad of other applications using blockchain -- it's not going away. However, as far as a "currency" proper, it's not happening, at least not in the way some expect it to change the world (amd certainly not once Banking amd Reg sinks their teeth in).
D
Deleted member 93354
Guest
One of the fundamental weaknesses of most block chain currency is that once a very small group of investors (owners) owns 50% of the available "coin" it's price becomes easy to manipulate. Also once a blockchain goes ASIC, the block chain market pretty much goes tits up for the majority of miners running on cards.
This is why you have the SEC and Justice Department looking at intentional price manipulation by a few overseas entities.
Zedicus
[H]ard|Gawd
- Joined
- Nov 2, 2010
- Messages
- 1,337
people still argue about this? it is a HUGE risk, you are in or out. if you are in do not whine if it rapes you and leaves you on the curb with a bloody hole.
i made some money, not even enough to buy a new average American car. But it was profitable for me. it was a profitable HOBBY, and that does not happen very often.
it is no more of a scam then FOREX, it IS more easily scam-able, because it is new and a hot topic, less security surrounds it.
i made some money, not even enough to buy a new average American car. But it was profitable for me. it was a profitable HOBBY, and that does not happen very often.
it is no more of a scam then FOREX, it IS more easily scam-able, because it is new and a hot topic, less security surrounds it.
JP Morgan first public type endeavour which may not fit well with a regulated banking industry. JPMorgan is not limiting themselves to Quorum but indicated they are working on multiple more private Blockchain technologies. Looking at their investment into, complexity of their documentation, Patents, training does indicate something really serious and in the end they probably learned a hell a lot from Quorum which may be split off (not sold) to a new business entity. This is the big boy in town that can get the job done in a rather serious fast pace endeavour and get wide spread partners and eventually acceptance. There are some big incentives using blockchain tech, areas where banks can never succeed due to laws, fraud, government or lack there of - Crypto may work well and this is a huge market with numbers larger then the whole population of the US.
https://bitsonline.com/why-jpmorgan-blockchain-patent-application-not-really-news/
https://www.ledgerinsights.com/why-jp-morgan-quorum-spin-off/
Hence why most will fail. Some will contain value, diversity, perfect ledger of true value, for example: 500 RVN coins you decide to make 5000 Tokens, each representing 1 once of gold, smart contract allowing you to trade and sell to others, how to retrieve Gold and any costs - perfect transaction record that cannot be modified - Trustworthy. Not limited to gold but land, cars other stuff. Great potential. Still agree with the out of neverland coins which only value is speculation - which can have a strong driving force but less steady on average.