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I offered to pay my contractors in bitcoin years ago and no one was interested. I told my friends they should by it, no one did, until this year. Some of them
by AJ007 9y ago
I offered to pay my contractors in bitcoin years ago and no one was interested.
I told my friends they should by it, no one did, until this year. Some of them managed to do brilliant things like actively buy and sell yet not make a penny. This is like Howard Marks describing day trading as making $3 when the price went up $30.
While I'm optimistic about Bitcoin, no one can defend the value of barely functional, abandoned, and centralized altcoins. This is completely out of control. It is a commodities trading video game where the underlying assets are completely imaginary. The bad altcoins will be worth absolutely nothing at the end, much like the dot com bubble. The real estate bubble was kinder, sans leverage.
- justboxing 9y agoWow, interesting story. Speaking of altcoins, what are your thoughts on Ripple? It seems promising to me in that nearly a 100 banks are using their BlockChain technology to process cross border payments and cut fees and transfer time (down to seconds from days). At the same time, I'm wary of investing in altcoins, after reading a whole bunch of scams that people have perpetrated online in this space. Also, is Ripple ( XRP ) considered an altcoin in the first place??