Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

19 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

Virtual currencies, Blockchain bitcoin
early birds
post Posted: Jun 3 2020, 07:59 PM
  Quote Post


Posts: 12,697
Thanks: 1435


In Reply To: mullokintyre's post @ Jun 3 2020, 07:25 PM

told my brother to buy some , if it hit the market.

crime rate in China is really really low compare to anywhere on earth, because surveillance camera is everywhere.
dictatorship , forget about so called "dem crazy, " or whatever that is. that is the way they lives , seems most of them are happy with it. unsure.gif
talking about adaptation !

as people say-----------every family have a shity story to tell!! wink.gif

for the currency -----------i would buy some as it backed by a legit Govt, although it is commie! speculate it, i reckon it will be better than paper money at least to say!!






Said 'Thanks' for this post: Pendragon  
 
mullokintyre
post Posted: Jun 3 2020, 07:25 PM
  Quote Post


Posts: 2,454
Thanks: 876


China is the first cab of the rank to launch a digital currency, as a digital Yuan will be released next year to replace physical currency.
From RT Com

QUOTE
The People’s Bank of China has revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. The announcement comes as the Covid-19 pandemic has accelerated a shift away from paper money.
Limited trials are already underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area in the northern province of Hebei, said the central bank’s governor Yi Gang. He told reporters that China’s government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release.

An unnamed member of the State Council with knowledge of the project told the Nikkei Asia Review that If the government is satisfied with the results of this year's tests, the currency “will be issued next year.” Otherwise, “more tests will be conducted next year,” he said.
The digital yuan will be linked to the holder's smartphone number, with transactions taking place through an app. Users will be able to transfer money between accounts by tapping phones, much like having physical cash change hands. The currency will be legal tender, so it could be exchanged without needing a bank as an intermediary.

The size of transactions would be limited based on identity verification. A phone number alone would permit only small transactions, while providing proof of identity or a photo of a debit card would raise the limit. Speaking with a bank representative in person could allow for the cap to be removed entirely. Suspected criminal activity will be uncovered via transaction histories.

According to Eddie Yue, chief executive of the Hong Kong Monetary Authority, it has become easier to use and popularize new payment technologies since growing coronavirus concerns make consumers prefer digital currencies to physical cash.


Hmm, like the bit about suspected criminal activity will be uncovered by transaction histories.
In China, criminal activity can vary from day to day.
great way to silence dissenters.

mick



--------------------
sent from my Olivetti Typewriter.

Said 'Thanks' for this post: Pendragon  rlane  
 
mullokintyre
post Posted: May 24 2020, 07:30 PM
  Quote Post


Posts: 2,454
Thanks: 876


In Reply To: royco's post @ May 12 2020, 11:32 PM

Royco, I think you should view this youtube. unsure.gif

Bitcoin Billionaire

Mick




--------------------
sent from my Olivetti Typewriter.

Said 'Thanks' for this post: royco  
 
royco
post Posted: May 12 2020, 11:32 PM
  Quote Post


Posts: 2,976
Thanks: 4775


In Reply To: mullokintyre's post @ May 12 2020, 09:33 PM

The value is in the blockchain and the distributed ledger, the crypto part is used to make sure the integrity of the blockchain is kept intact and the fact that it is distributed means no single entity (like a government) can mess with the numbers. Like the libor scandal and an endless string of bigger or smaller scams.

Integrity and trust in a counterpart of an economic transaction and in the currency has extremely high value.
That is why BTC is still here after 11 years, the code is tangible/visible and the coins can be used to pay for real things. Before long the fiat -currencies were also holding tangible value in gold of the actual coin or by gold reserves kept by the central bank but those days are far behind us.









--------------------
Ἀρτεμίσιον
 
mullokintyre
post Posted: May 12 2020, 09:33 PM
  Quote Post


Posts: 2,454
Thanks: 876


In Reply To: nipper's post @ May 12 2020, 09:08 PM

Its one of many conundrums.
I could never really understand why what they call mining (the solving of complex maths) , is anything but a scam.
They produce nothing tangible, use more and more resources to "mine" them, and the rewards get smaller ovee time.
It is such a great pity that the genius of The blockchain technology was not used in creating something a little more worthwhile.
Mick



--------------------
sent from my Olivetti Typewriter.

Said 'Thanks' for this post: royco  
 
nipper
post Posted: May 12 2020, 09:08 PM
  Quote Post


Posts: 6,961
Thanks: 2386


In Reply To: nipper's post @ May 11 2020, 11:45 AM

and herein lies the conundrum (there are other crypto's)
QUOTE
Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created. The world's biggest cryptocurrency's so-called "halving" happens roughly every four years.The digital currency relies on what are known as "miners", who run software that races to solve complex maths puzzles in return for Bitcoins.

Monday's halving event means that the reward for unlocking a "block" has been cut from 12.5 new coins to 6.25.

Halving was written into the cryptocurrency's code by its creator, who is known as Satoshi Nakamoto, to control inflation.

This is the third halving since Bitcoin's creation in 2009. The first took place in November, 2012, and the second in July 2016. The next halving is due to take place in May 2024.

Bitcoin's code also means that rewards to miners will continue to halve every 210,000 blocks until they reach zero in around two decades' time, limiting the total number of Bitcoins that will ever exist to 21 million. This is because - unlike currencies such as the dollar, pound or euro - digital currencies have no central banks to regulate their supply.

Supporters of the cryptocurrency say that this scarcity is part of what underpins its value and makes it a potential safe haven against currencies that are vulnerable to devaluation during times of economic crisis.

The digital currency has gained more than 20% since the start of this year, touching $10,000 last week. That came after a report that hedge fund manager Paul Tudor Jones has backed the cryptocurrency as a safeguard against inflation. However some investors have highlighted that halving could make the cryptocurrency less attractive to miners. "The incentive is less for miners now to mine Bitcoin. Miners will probably switch to more profitable cryptocurrencies," Stephen Innes from AXI Corp told the BBC.



- and what about inflation? What does that mean?



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

Featured Stock Stories





nipper
post Posted: May 11 2020, 11:45 AM
  Quote Post


Posts: 6,961
Thanks: 2386


Paul Tudor Jones has come out with a worry list about THE GREAT MONETARY INFLATION

QUOTE
COVID-19 is a one-of-a-kind virus that has triggered a one-of-a-kind policy response globally. The depth and magnitude of the economic drop-off took modern monetary theory, or the direct monetization of massive fiscal spending, from the theoretical to practice without any debate.

A. Debt Addiction
B. Money Printing is a Hard Habit to Kick
C. Seeking Refuge from the Great Monetary Inflation

There is a host of assets that at one time or another have worked well in reflationary periods:
1. Gold ... A 2,500 year store of value
2. The Yield Curve ... Historically a great defense against stagflation or a central bank intent on inflating. For our purposes we use long 2-year notes and short 30-year bonds
3. NASDAQ100 ... The events of the last decade have shown that quantitative easing can rapidly leak into equity markets
4. Bitcoin ... There is a lengthy discussion of this below
5. US cyclicals (long)/US defensive (short) ... A pure goods’ inflation play historically
6. AUD-JPY ... Long commodity exporter and short commodity importer
7. TIPS (Treasury Inflation-Protected Securities) ... Indexed to CPI to protect against inflation
8. GSCI (Goldman Sachs Commodity Index) ... A basket of 24 commodities that reflects underlying global economic growth
9. JPM Emerging Market Currency Index ... Historically when global growth is high and inflationary pressures are building, emerging market currencies have done quite well.

https://www.docdroid.net/H1fuimX/the-great-...y-inflation-pdf

In seeking refuge, he grades these "Stores of Value" with 4 characteristics
1. Purchasing Power
2. Trustworthiness
3. Liquidity
4. Portability

and Bitcoin does surprisingly well. Of course, assuming THE GREAT MONETARY INFLATION



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Mar 30 2020, 05:17 PM
  Quote Post


Posts: 2,454
Thanks: 876


Not really Currency related, but it is Block Chain related.
If you are struggling for some reading material, have I got a deal for you.
The Fed guvmint have released their BTC roadmap.
It can be found at BCT Roadmap
Don't cheat and just read the highlights, read the whole tome.
Mick



--------------------
sent from my Olivetti Typewriter.

Said 'Thanks' for this post: joules mm1  royco  
 
mullokintyre
post Posted: Mar 18 2020, 07:20 AM
  Quote Post


Posts: 2,454
Thanks: 876


In Reply To: royco's post @ Mar 18 2020, 02:36 AM

Hi Royco,
I wish I could share your confidence in BTC, but the fact that it gets more difficult to mine BTC over time, plus its finite supply, is its biggest hurdle.
It will be a niche player, may make buckets of money for a few, and may well become a standard means of transaction for some boutique business , but will struggle to get acceptance in the wider world.
However, I have no doubt that Block Chain Technology in its own right will have a massive impact on future electronic interactions.
It would not be just limited to currency, but to digital security, tracing goods and services, stock identification (as in cattle, sheep pigs etc)
For a replacement of current currencies, a new model will have to be agreed upon by many parties, with the rules of engagement clearly laid out before it becomes mainstream.
Justmy 5.5 cents (I included GST).

Mick




--------------------
sent from my Olivetti Typewriter.
 
royco
post Posted: Mar 18 2020, 02:36 AM
  Quote Post


Posts: 2,976
Thanks: 4775


from what I understand the global economy is going into a recession that might last years and in total will be worse than the GFC a decade ago and possibly any crisis before that.

The central banks will again do "everything it takes" as they usually do.
Translated that means they will probably increase liquidity and create enormous amounts of extra money at an unseen scale.
Interest rates will not go further sub zero as the effects of that are totally unknown and possibly destructive to the entire financial system.

As we know BTC will always become more difficult to mine and is limited in number.
Therefore the price in traditional USD/EUR could skyrocket over the next 24 months.

Just my five cents.



--------------------
Ἀρτεμίσιον
 
 


19 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING