Albion Dan
Banned
I saw it. I just can’t think ETH will be the go to solution for payment handling of term as it’s fees are so expensive and there are much much cheaper options out there.
[Finance] The cryptocurrency (Bitcoin etc) thread
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I saw it. I just can’t think ETH will be the go to solution for payment handling of term as it’s fees are so expensive and there are much much cheaper options out there.
Albion Dan
Banned
Bitcoin price
Alt season is almost upon us. A handful of projects pumping hard every day. I’ve been in FIL for last couple of months and last week went up 134%. I’m expecting BTS to fly hard very soon too and think EWT could also be a monster.
Alt season is almost upon us. A handful of projects pumping hard every day. I’ve been in FIL for last couple of months and last week went up 134%. I’m expecting BTS to fly hard very soon too and think EWT could also be a monster.
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Have been watching EWT - looks a good project.
A lot of rumours that Maidsafe will launch testnet today though, which could blow everything else out of the water.
I imagine you crypto-kids will take some interest in Noah Kagan's (even if you've never heard of him) crypto holdings which he laid out recently.
https://www.youtube.com/watch?v=nWClWCiPo3k
https://www.youtube.com/watch?v=nWClWCiPo3k
I switched off a bit when he mentioned Ethereum - several people I know who know their stuff say it is fundamentally broken.
KeegansHairPiece
New member
- Jan 28, 2016
- 1,829
Fair enough.
If you end up 1/100th as wealthy as Noah Kagan, you'll have had a good life.
schmunk
"Members"
KeegansHairPiece
New member
- Jan 28, 2016
- 1,829
Indeed. It helps if you already have about $7000/month to invest in the first place
Then help your mates out with buying into their recommendations, make a video telling everyone what you’re buying, hey presto you’ve got a self perpetuating growth of value down to social media likes. It’s pretty mad, but at least he had the decency as such to spell that out at the end.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,368
Visa trialing blockchain is the important story, not that it uses ETH. USDC is on other chains, like Fantom where fees aren't a problem.
ETH is fundamentally working, unless they are talking about those fees.
Kagan's wealth has little to do with crypto though, but he has enough wealth to have a dabble.
Any of you crypto-kids into BitClout yet? Interesting idea but not massively dissimilar from the recently ill-fated Football Index.
At the moment, but it isn't scalable. I don't have the tech know-how to fully explain it unfortunately.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,368
looks like a proper scam, apparently you can exchange funds into the sytem but not reverse.
In summary Ethereum relies on proof of work, which is limited to around 10 transactions per second.
Ethereum 2 is based on proof of stake, which will be closer to 10k transactions per second and will greatly reduce the cost per transaction.
The challenge for Ethereum is that the migration requires something like 4 major steps, which will take some time.
Other solutions can already operate at this scale see Hedera Hashgraph and at much lower costs per transaction.
Zero fee offerings are also close for example Iota Networks.
None of this means Etherium is dead in the water. If the market is smart contracts with high values, the difference between a transaction at £100 and one at 0.0001p is insignificant. If the focus is on high volume low value transactions this is critical.
Shaan Puri (Bebo, Twitch, has a LOT of wealth in crypto) and Sam Parr (The Hustle) are well-connected and know of the people behind it who are, by all accounts, serious tech players.
It's not something I have any great interest in, but they've covered it over the last week or two on their excellent My First Million podcast. I think Shaan put $100k into it this week.
Parr was cynical about the "no withdrawal" thing, somewhat obviously, but I think the intention is pretty clear, particularly given the Football Index collapse. You need liquidity to build first otherwise any kind of loss of confidence would trigger a run and the whole system would disintegrate.
But, yes, it's undoubtedly highly speculative but so is almost everything in the crypto arena. Get in early, cross your fingers, and hope you're on a winner.
Isn't there a fairly high likelihood that polkadot/cardano will take over before Ethereum 2 is released?
One of the most interest aspects I think of crypto is the Defi element. The fact that you can earn up to 10%+ return on usd backed stable coins or provide liquidity to exchanges for higher returns of 30%+. You can get insurance on this as well.
I imagine rates will reduce over time but how will traditional banks compete on these and why would anyone leave any of their savings in cash when it is being devalued yearly by inflation and no/little interest is offered.
I imagine rates will reduce over time but how will traditional banks compete on these and why would anyone leave any of their savings in cash when it is being devalued yearly by inflation and no/little interest is offered.
Albion Dan
Banned
It's not, its just inefficient, but its a market leader and even if in ten years it's served it purpose it's still going to pump hard this year. It's like any stocks or shares, they will go up, and down, the trick is to not marry any project and get out when money has been made.
Albion Dan
Banned
There are some wild APY staking rates on the yield farm defi projects at the moment. I've seen 100%+. Like you say wont last, is being done for exposure and is risky as hell as an investment but if you've got a bit of dust to stick in is worth a punt. Long term though decentralized finance systems could very replace central banking for those that want to go down that route.