Cryptocurrency, Blockchain and buy Roujcoin now [ROU] - The Bear and Badger

Dinostar77

I forgot to add, companies are using cryptocurrency as a method for gaining startup capital in order to bring their ideas to market. Like an IPO. it's just that this area is unregulated at the moment and when it gets regulated we will all be better off.

Also your not the generation I'm talking about, the generation I'm talking about are the current under 10 yrs old.

Diluted Dante

Dante, I've never though of it being used as a currency for the masses, I don't think that idea has any legs. As a cryptocurrency it will still exist and be used on Internet by some but not the masses.

The tech is in its infancy and alot of pilot work is going on. R3 is a consortium of the world's biggest financial institutions. They are throwing in upwards of £100mil a year on blockchain technology and the underlying protocols that will allow said institutions to talk to each other (move money) digitally with lower costs.

Microsoft, IBM, RSA and other big companies are part of the decentralized identity foundation who are looking at how we secure identity, (human and non human*) on the blockchain.

Microsoft and IBM are also members of the Smart Contract Alliance who are looking at how Smart Contracts can be legally implemented and audited. They are working with the USA digital chamber of commerce on this as well.

*non human, they are looking to tokenise objects and services on the blockchain so any and every item can have an identity and that helps with supply chain and auditing. For example you can tokenise a screwdriver from manufacturer x and give it a blockchain identity.

Walmart did a recent test where they tried to trace back a crate of mangos to the farm of origin. It took them over 6 days to go through paperwork, audit trails etc. If that was on the blockchain they'd have their answer in minutes.

In china, they are trialling baby food on blockchain. Because there is alot of fake baby food and it kills or severely injures babies. By adding a QR code or RFID to the tin and sealing it, a mum in China can go buy baby food, scan the QR code and be assured that the tin of baby food hasnt been tampered with as its history on the supply chain is recorded in the blockchain.

This is conflating cryptocurrency and blockchain again though. Business to business payments in Bitcoin for example, absolutely cryptocurrency.

Tracking mangos and babyfood though isn't, that's blockchain. I don't think anyone is saying that blockchain can't have some very widespread uses. But that is distinct from Bitcoin et al.

Dinostar77

Problem with this area is people are obsessed with talking about bitcoin and its use as a currency. There is a whole ecosystem of coins out there that have nothing at all to do with currency. 95% of the tokens that make up the cryptocurrency market have nothing at all to do with currency. That's not what they are there for.

There are so many more interesting discussions we could have on here in regards to potential use cases of the cryptocurrency market coins. However I'm not having a go at anyone its just the problem this area currently has, people can't see past bitcoin and it's use as a currency.

Bitcoin is old hat. It's limited in its use and use cases. It will be surpassed by etherum by the end of this year and once the tether to bitcoin is cut maybe people everywhere will realise there is a whole ecosystem that has nothing to do with being a currency.

Diluted Dante

Perhaps this is a problem with the name then, but what is a cryptocurreny used for, if not as currency?

Dinostar77

I probably should have posted this awhile ago.

Technical Stack Diagram

Bottom up:

Blockchain - foundations
Protocol - How computers talk to each other
Tokens - Bitcoin and other non currency tokens
App - Smart Contracts and dApps (decentralised apps)

0*uxVmHYXtKnkVyEv8.

Dinostar77

Diluted Dante wrote:

Perhaps this is a problem with the name then, but what is a cryptocurreny used for, if not as currency?

Dante there is a whole ecosystem of other uses. Some valid some dubious. If your curious go on https://www.coingecko.com/en, click a currency and read its description. Read a dozen or so from the top 200 and you'll get an idea of what else exists outside of currency uses.

[Deleted User]

Dinostar77 wrote:

I forgot to add, companies are using cryptocurrency as a method for gaining startup capital in order to bring their ideas to market. Like an IPO. it's just that this area is unregulated at the moment and when it gets regulated we will all be better off.

Also your not the generation I'm talking about, the generation I'm talking about are the current under 10 yrs old.

It's not unregulated, it's illegal. Just the SEC only sends letters in some cases. I even cited one a few pages ago - but, you know, never mind the facts eh.

monkey

The under 10s aren’t going to have serious purchasing power for decades. Thirty or more years until they buy a house etc. Most people don’t know how money works, or what it represents or what money supply is. This is all abstracted away from them. Same with email, internet, social networks. Crypto currencies will either work or they won’t but it won’t have anything to do with being too complex for the average joe. They’ve still got the use case hurdle to clear (edit - and the structural problem of how to stabilise the value without centralised control over supply). If that happens it just needs someone to come up with the right mechanism for people using them quickly and easily.

Unlikely

Someone start a fucking blockchain != bitcoin thread because it seems impossible for some of you to separate the two.

WorKid

Don't hard fork the thread.

Dinostar77

legaldinho wrote:

Dinostar77 wrote:

I forgot to add, companies are using cryptocurrency as a method for gaining startup capital in order to bring their ideas to market. Like an IPO. it's just that this area is unregulated at the moment and when it gets regulated we will all be better off.

Also your not the generation I'm talking about, the generation I'm talking about are the current under 10 yrs old.

It's not unregulated, it's illegal. Just the SEC only sends letters in some cases. I even cited one a few pages ago - but, you know, never mind the facts eh.

Many countries are pushing for regulating it though bud. I agree it's various shades of grey at the moment when talking ICO. However once this space is regulated then we will can push forwards.

Yossarian

Dino, genuine question here: you’ve been talking about investing in crypto, but also about crypto not necessarily equalling currency and the things that can be done with the underlying tech. So if your investments aren’t currency speculation but are investments in blockchain tech, what are these investments you’re making? Are you buying shares in companies working with blockchain tech? Is there some blockchain based investment system in companies working with this tech?

Dinostar77

monkey wrote:

The under 10s aren’t going to have serious purchasing power for decades. Thirty or more years until they buy a house etc. Most people don’t know how money works, or what it represents or what money supply is. This is all abstracted away from them. Same with email, internet, social networks. Crypto currencies will either work or they won’t but it won’t have anything to do with being too complex for the average joe. They’ve still got the use case hurdle to clear (edit - and the structural problem of how to stabilise the value without centralised control over supply). If that happens it just needs someone to come up with the right mechanism for people using them quickly and easily.

Dude maybe I didn't explain myself. I meant that the under 10s now when they get older probably couldn't give two hoots about their stuff being on blockchain or paying for some goods or services using roujcoin. It will normally for them just as social media is normal for the current 12-28 year old. They are happy to post all sorts of shit, pics etc on social media and couldn't care less about reproccusions. Whereas our generation are abit more savy about security and posting everything and anything on social media.

Dinostar77

Yossarian wrote:

Dino, genuine question here: you’ve been talking about investing in crypto, but also about crypto not necessarily equalling currency and the things that can be done with the underlying tech. So if your investments aren’t currency speculation but are investments in blockchain tech, what are these investments you’re making? Are you buying shares in companies working with blockchain tech? Is there some blockchain based investment system in companies working with this tech?

Yoss, give me an hour or so to get some chores done and I'll respond.

Yossarian

I don’t think that social media is a good analogy for Cryptocurrency, TBH. Social media allowed people to do things that they couldn’t before, there is very little being offered to the individual by Cryptocurrency that makes it more useful than money.

Yossarian

And fair play, dust them shelves.

Tempy

Yossarian wrote:

I don’t think that social media is a good analogy for Cryptocurrency, TBH. Social media allowed people to do things that they couldn’t before, there is very little being offered to the individual by Cryptocurrency that makes it more useful than money.

Social Media is also fairly easy to use and understand by most - it's fairly intuitive, and people who don't use it or claim it's impossible to understand are like the people who thought TV wouldn't catch on - whereas when I read most Blockchain stuff like this

e33b4884593de76dbf3cc1b7c6017e51--los-simpsons-homer-simpson.jpg

e33b4884593de76dbf3cc1b7c6017e51--los-simpsons-homer-simpson.jpg

I try, but it's mostly way beyond me. Beano had a go at explaining it when I saw him in Liverpool, it seems like nigh infallible accountability is the main thrust of it, but on the other hand... Sillicon Valley must burn.

Tempy

Dinostar77 wrote:

Whereas our generation are abit more savy about security and posting everything and anything on social media.

I mean you say that, but it's not totally true, every generation has total idiots in it, ours isn't particularly special and if anything they thrust a lot of it on their kids - posting endless photos of them online without a care.

GooberTheHat

Dinostar77 wrote:

Diluted Dante wrote:

Perhaps this is a problem with the name then, but what is a cryptocurreny used for, if not as currency?

Dante there is a whole ecosystem of other uses. Some valid some dubious. If your curious go on https://www.coingecko.com/en, click a currency and read its description. Read a dozen or so from the top 200 and you'll get an idea of what else exists outside of currency uses.

The other uses may well be entirely valid, but that is not why the vast majority of people are purchasing these tokens. They are purchasing them with the hope that they will increase in value (and not because of their utility, but because more people will want to buy them because they are valuable), thus artificially inflating their value.

Of all the tokens you have purchased which, if any, do you hold because of their intended purpose, and which do you hold because you think they will increase in value and you will be able to sell them for a profit?

GooberTheHat

I mean, I've bought a load of rare bottles of whisky. Now obviously the purpose of whisky is to drink it, but that's not why I've bought them. I've bought them because I'm hoping that in 10 or 20 years they will be worth much more than I paid for them. But if not, at least I can still drink them.

Yossarian

I hope you’ve also bought some rare cans of coke to mix them with.

GooberTheHat

I went out and got a load with the names on them. Limited editions are the key yoss.

Yossarian

Yossarian

Best Bitcoin thread:

https://mobile.twitter.com/BryceElder/status/959770192107601920

Diluted Dante

It's the best explanation I've come across.

AndCallMeCharlie

GooberTheHat wrote:

that is not why the vast majority of people are purchasing these tokens.

How do you know?

WorKid

Ha ha. Love it, Yoss.

AndCallMeCharlie

WorKid wrote:

Don't hard fork the thread.

A hard fork between those that want to discuss how crypto & Blockchain is evolving, leaving this thread for people to discuss how right they are going to be about tulips.

GooberTheHat

AndCallMeCharlie wrote:

GooberTheHat wrote:

that is not why the vast majority of people are purchasing these tokens.

How do you know?

GooberTheHat wrote:

Of all the tokens you have purchased which, if any, do you hold because of their intended purpose, and which do you hold because you think they will increase in value and you will be able to sell them for a profit?

AndCallMeCharlie

You asked a question, no one answered and you have a fact base?
People and companies are buying coins and tokens for all sorts of reasons - your making assumptions on millions of peoples motivations

Howdy, Stranger!

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