MarathonMike
Diamond Member
I haven't looked into it, but I just saw that bitcoins are now worth more than an ounce of gold. If anyone owns them or understands how this "currency" works, please explain.
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I can't afford to establish a, petty cash fund for that purpose, yet.I haven't looked into it, but I just saw that bitcoins are now worth more than an ounce of gold. If anyone owns them or understands how this "currency" works, please explain.
Very interesting thanks.I do. Have for years at this point. Mined it, bought it, hold it, trade it on exchanges.
I don't mine bitcoin any longer, however, as it isn't cost effective with the electricity burned costing more than it would to just buy them.
I mine/hold/trade Ethereum as well. Those miners are still running.
They both operate on distributed ledger systems, aka blockchain, whereby there's no need for a third party, such as a bank or brokerage, to verify transactions. They also perform a myriad of other functions, with new apps rolling out continuously.
Btc is a value store similar to money. Ethereum operates what are known as smart contracts, which allow various things to be coded into an agreement that no longer needs a clearinghouse or third part. This offers substantial potential savings in financial markets, and has many, many other applications as well in telecomm, pharma, supply chain management etc.
There are various other "coins" as well that serve one purpose or another. They are known as "alt-coins" or ""alts".
This is taking hold on a global level, with multi-conglomerate consortiums being formed working with ethereum, various private blockchain initiatives rolling out etc. Goverments, such as China, are experimenting with blockchain tech to digitize their currency. States and municipalities are working in implementing this tech to save money.
Many companies have formed what is called the ethereum alliance. Announced a few months ago it continues to grow in size. The article also discusses how they work.
Bigger than bitcoin? Enterprise Ethereum Alliance grows in size
"Corporate support for the Enterprise Ethereum Alliance (EEA) is growing after 86 firms including State Street, Toyota, Merck, ING, Broadridge and Rabobank joined the collective that is seeking to use blockchain technology to run smart contracts at Fortune 500 companies."
"JPMorgan Chase, Microsoft, CME Group, BNY Mellon and other large multinationals are already EEA members, having joined when it was established in February 2017.
In a statement, Julio Faura, chairman of the EEA and head of blockchain innovation at Banco Santander, said, "the enthusiasm around EEA is remarkable".
He added: "Our new members come from varying industries such as pharma, mobile, banking, automotive, management consulting, and hardware."
I posted something on these in the investments section, as price is utterly exploding, but got no takers....
Very interesting thanks.I do. Have for years at this point. Mined it, bought it, hold it, trade it on exchanges.
I don't mine bitcoin any longer, however, as it isn't cost effective with the electricity burned costing more than it would to just buy them.
I mine/hold/trade Ethereum as well. Those miners are still running.
They both operate on distributed ledger systems, aka blockchain, whereby there's no need for a third party, such as a bank or brokerage, to verify transactions. They also perform a myriad of other functions, with new apps rolling out continuously.
Btc is a value store similar to money. Ethereum operates what are known as smart contracts, which allow various things to be coded into an agreement that no longer needs a clearinghouse or third part. This offers substantial potential savings in financial markets, and has many, many other applications as well in telecomm, pharma, supply chain management etc.
There are various other "coins" as well that serve one purpose or another. They are known as "alt-coins" or ""alts".
This is taking hold on a global level, with multi-conglomerate consortiums being formed working with ethereum, various private blockchain initiatives rolling out etc. Goverments, such as China, are experimenting with blockchain tech to digitize their currency. States and municipalities are working in implementing this tech to save money.
Many companies have formed what is called the ethereum alliance. Announced a few months ago it continues to grow in size. The article also discusses how they work.
Bigger than bitcoin? Enterprise Ethereum Alliance grows in size
"Corporate support for the Enterprise Ethereum Alliance (EEA) is growing after 86 firms including State Street, Toyota, Merck, ING, Broadridge and Rabobank joined the collective that is seeking to use blockchain technology to run smart contracts at Fortune 500 companies."
"JPMorgan Chase, Microsoft, CME Group, BNY Mellon and other large multinationals are already EEA members, having joined when it was established in February 2017.
In a statement, Julio Faura, chairman of the EEA and head of blockchain innovation at Banco Santander, said, "the enthusiasm around EEA is remarkable".
He added: "Our new members come from varying industries such as pharma, mobile, banking, automotive, management consulting, and hardware."
I posted something on these in the investments section, as price is utterly exploding, but got no takers....
Something big is going on, that is for sure. It's interesting how little coverage Bitcoin or Ethereum gets in the MSM.
I've heard that it is easier to get cold hard cash from bitcoins than it used to be. They're more liquid. For instance I've heard of companies taking bitcoins for gold and silver bullion.Something big is going on, that is for sure. It's interesting how little coverage Bitcoin or Ethereum gets in the MSM.
yep,right now it is "THE THING". Globally huge corporations and governments are hopping on in droves.
It's not getting a ton of MSM coverage yet, but that's starting to change. We're seeing it in financial sites, such as CSNBC, The WSJ, NASDAQ etc. Right now it's an investment vehicle for some and not something people in general are seeing as part of their daily lives, so they don't know, don't care and the MSM isn't picking it up because most people couldn't care less.
At some point it will be part of people's daily lives if it keeps on the path it's on and yet some people still may or may not even realize it.
For instance, do people think about what happens when they swipe a credit card in terms of the systems underpinning it? Do they consider the systems involved in energy distribution, data networks, stock exchanges etc. For the most part, no.
These are just things humming along in the background that most people pay little, if any, attention to. These sorts of things will be much the same in those same areas and most people won't even notice a change as, to them, there won't be one.
I've heard that it is easier to get cold hard cash from bitcoins than it used to be. They're more liquid. For instance I've heard of companies taking bitcoins for gold and silver bullion.Something big is going on, that is for sure. It's interesting how little coverage Bitcoin or Ethereum gets in the MSM.
yep,right now it is "THE THING". Globally huge corporations and governments are hopping on in droves.
It's not getting a ton of MSM coverage yet, but that's starting to change. We're seeing it in financial sites, such as CSNBC, The WSJ, NASDAQ etc. Right now it's an investment vehicle for some and not something people in general are seeing as part of their daily lives, so they don't know, don't care and the MSM isn't picking it up because most people couldn't care less.
At some point it will be part of people's daily lives if it keeps on the path it's on and yet some people still may or may not even realize it.
For instance, do people think about what happens when they swipe a credit card in terms of the systems underpinning it? Do they consider the systems involved in energy distribution, data networks, stock exchanges etc. For the most part, no.
These are just things humming along in the background that most people pay little, if any, attention to. These sorts of things will be much the same in those same areas and most people won't even notice a change as, to them, there won't be one.
Is there any truth to that?
Years ago my employer gave me the option of getting part of my quarterly bonus in bitcoin. Around $10,000. I didn't know jack shit about bitcoin. Never heard of bitcoin. He explained why he invests in bitcoin. I'm a gambling man so I decided to take a gamble. I got lucky as hell. In months that gamble was worth six figures.
I wouldn't invest in bitcoin again though. My instincts told me to quit while I was ahead and not to play that game again.
One who is convinced they will go up in value.Years ago my employer gave me the option of getting part of my quarterly bonus in bitcoin. Around $10,000. I didn't know jack shit about bitcoin. Never heard of bitcoin. He explained why he invests in bitcoin. I'm a gambling man so I decided to take a gamble. I got lucky as hell. In months that gamble was worth six figures.
I wouldn't invest in bitcoin again though. My instincts told me to quit while I was ahead and not to play that game again.
What employer would offer a bonus in bitcoin? That is just bizarre....but good job holding on to that and selling when you thought you should.
Ok I've been reading about this all day. I'm convinced this is the real deal. Just created my coinbase account. From what I read, this technology has all sorts of applications even things like electronic voting. Really interesting!I've heard that it is easier to get cold hard cash from bitcoins than it used to be. They're more liquid. For instance I've heard of companies taking bitcoins for gold and silver bullion.Something big is going on, that is for sure. It's interesting how little coverage Bitcoin or Ethereum gets in the MSM.
yep,right now it is "THE THING". Globally huge corporations and governments are hopping on in droves.
It's not getting a ton of MSM coverage yet, but that's starting to change. We're seeing it in financial sites, such as CSNBC, The WSJ, NASDAQ etc. Right now it's an investment vehicle for some and not something people in general are seeing as part of their daily lives, so they don't know, don't care and the MSM isn't picking it up because most people couldn't care less.
At some point it will be part of people's daily lives if it keeps on the path it's on and yet some people still may or may not even realize it.
For instance, do people think about what happens when they swipe a credit card in terms of the systems underpinning it? Do they consider the systems involved in energy distribution, data networks, stock exchanges etc. For the most part, no.
These are just things humming along in the background that most people pay little, if any, attention to. These sorts of things will be much the same in those same areas and most people won't even notice a change as, to them, there won't be one.
Is there any truth to that?
yep, much more fungible now.
you can buy and sell directly to and from your bank account via coinbase, or set up an account at one of a number of exchanges and buy and sell with USD there, etc.
and, yes, you can buy gold, silver, whatever with BTC. you can also buy VISA giftcards and spend it that way, and right now they're rolling out a debit card you can load with crypto and swipe it just like any other debit card.