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The weird thing about it, as long as cryptocurrencies are volatile, folks are not going to buy/sell using them. Then what is the intrinsic value of it if no one

The weird thing about it, as long as cryptocurrencies are volatile, folks are not going to buy/sell using them. Then what is the intrinsic value of it if no one buys/sells with them? Only value is speculation with nothing real supporting it. Bitcoin is not even shiny and pretty like Gold.

the_clarence 8y ago
Your comment is pretty much what I get from bankers all the time. There is much more to just bitcoin, actually even off-side chains built on top of bitcoin which provide more than just transactions of money.
- bb88 8y ago
  But isn't that effectively just git without all the branching nonsense and stronger crypto? The original argument for bitcoin was that it's a great replacement of physical money.
  - the_clarence 8y ago
    Yeah, in the arguments for a lot of other cryptocurrencies are different: use the financial incentive to build something else.
- riskneutral 8y ago
  What are you even talking about? Does the stuff you are referring to have a market price? Like with Bitcoin, we can say that its market price is around $5,000 USD per BTC. Does this other stuff, which you say is so great, have a unit price at which it can be bought and sold? If yes, is that market anywhere as large as Bitcoin? If it doesn’t have a Traded price, then what is it?
  - the_clarence 8y ago
    I’m not sure I understand your question. Other cryptocurrencies are building systems backed by financial incentives. These systems offer different properties: File storage, name resolution, smart contracts, etc. Every cryptocoin is trying a different tech. As I said there is a lot of bullshit in the field but if you dig, there are things that are interesting. These projects are flying under the radar and potentially have a future. I’m not selling you anything, just pointing out that a lot of people (on both side) are clueless and I think you proved my point.
    - riskneutral 8y ago
      Ok, I am still clueless. What does file storage have to do with currency or coinage?

the_clarence 8y ago

Your comment is pretty much what I get from bankers all the time. There is much more to just bitcoin, actually even off-side chains built on top of bitcoin which provide more than just transactions of money.

bb88 8y ago
But isn't that effectively just git without all the branching nonsense and stronger crypto? The original argument for bitcoin was that it's a great replacement of physical money.
- the_clarence 8y ago
  Yeah, in the arguments for a lot of other cryptocurrencies are different: use the financial incentive to build something else.
riskneutral 8y ago
What are you even talking about? Does the stuff you are referring to have a market price? Like with Bitcoin, we can say that its market price is around $5,000 USD per BTC. Does this other stuff, which you say is so great, have a unit price at which it can be bought and sold? If yes, is that market anywhere as large as Bitcoin? If it doesn’t have a Traded price, then what is it?
- the_clarence 8y ago
  I’m not sure I understand your question. Other cryptocurrencies are building systems backed by financial incentives. These systems offer different properties: File storage, name resolution, smart contracts, etc. Every cryptocoin is trying a different tech. As I said there is a lot of bullshit in the field but if you dig, there are things that are interesting. These projects are flying under the radar and potentially have a future. I’m not selling you anything, just pointing out that a lot of people (on both side) are clueless and I think you proved my point.
  - riskneutral 8y ago
    Ok, I am still clueless. What does file storage have to do with currency or coinage?