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Is Bitcoin the Next Big Thing?

Discussion in 'Business Discussions' started by accelerator, Jun 2, 2015.

  1. martin-s United Kingdom

    martin-s Well-Known Member

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  2. Domain Forum

    Acorn Domains Elite Member

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  3. Edwin

    Edwin Well-Known Member

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  4. martin-s United Kingdom

    martin-s Well-Known Member

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    Sorry Edwin, but I call total BS on that analysis.
     
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  5. websaway United Kingdom

    websaway Well-Known Member

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    That's bang on for me. No regulation meant ads could say whatever they liked and people are vulnerable, that's why we have regulations to protect people against scams.
     
  6. dee

    dee Well-Known Member Acorn Supporter

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    Regulation will come. It's already underway with ICO's and treating them as futures/investments. I think its a good thing....even though the bitcoin purists think the whole point is that its deregulated/decentralised. It will help filter out the scammers and rip off merchants. It's like the wild west at the moment. HOWEVER. People have short memories and I think it could quite happily head skywards again if there was a decent trigger and people thought the train was heading up without them. There is now a precedent with a high to beat.
     
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  7. websaway United Kingdom

    websaway Well-Known Member

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    This is where the concept loses me. If bitcoin is a method of transaction with all the benefits it purports to provide, why should it also be a vehicle for investment ? OK I know that only 20 million will be mined but did someone overlook the fact you could have infinite amounts of competitor coins. I get a bit lost with my limited knowledge, but then again is the jargon designed to do just that.
     
  8. dee

    dee Well-Known Member Acorn Supporter

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    I don't know how they can deal with what's already out there efficiently.It's purely on new ICO's. I think it just stops every bloke and his dog cleaning up on launching a white paper and then legging it with the cash. As you say, bitcoin is supposed to be a maythod of payment, not a futures contract so who knows. One things for sure though, it wont get away without some form of regulation. Governments don't like anything they can't control.
     
  9. Admin

    Admin Administrator Staff Member

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    People should protect themselves without a nanny state getting involved
     
  10. Admin

    Admin Administrator Staff Member

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    BTW... Bitcoin transactions are now in seconds and at a cost of céntimos
     
  11. dee

    dee Well-Known Member Acorn Supporter

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    You say that , but you're assuming everyone is as tech savvy and as clued up as most people here. Unfortunately most people do actually need protecting from themselves in the world of the interweb.
     
  12. 3gmedia

    3gmedia Active Member

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    Interesting to see the comments at the start of this thread. o_O
     
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  13. ian

    ian Well-Known Member

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    Don't I just know it, when I said (though don't remember) "Whilst unregulated, it doesn't have a hope. Would rather remain in precious metals, art etc"
     
  14. Murray

    Murray Well-Known Member

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    Well you could look at it that at least you don't sit on your first opinion and leave it there.
     
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  15. amfletchers Sweden

    amfletchers Active Member

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    I've been spending quite a bit of time with cryptos these last few months. One I think is really undervalued right now is MTL, essentially a payment app that gives 5% cashback on purchases in the form of MTL cryptocurrency. Really smart concept, the app looks fantastic and the team is very good. See metalpay.com

    It's not going to be an instant 500% profit or anything but as the app begins to launch and more news comes out I think we will see the current $100M market cap grow significantly. Rather than being another useless coin it's got a practical use and a real company behind it which is rare. It's been going through a consolidation period for months now and looks ready to climb as soon as news is released.

    (I'm in no way involved in the project but do have a small amount of MTL, I doubt making a post about it here will make any difference to the price at all)
     
  16. Edwin

    Edwin Well-Known Member

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  17. Admin

    Admin Administrator Staff Member

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    Yes absolutely, the ICO madness was a get rich quick scheme and a bubble just like the .com bubble. You floated anything techy back then and had yourself a company with a multi million pound valuation overnight. Many had little substance and so yes it was unethical and not very cool. BUT out of it came the big companies that still dominate the online landscape today. The ICO explosion is analogous and again the BUT is that the main players and cryptos with substance and real world value will dominate sections of our online future. I could be wrong but I only seem to notice you being dismissive and negative to everything crypto when you could be dipping your toe into the water where you see merit and making yourself some money so you can afford to pay Nominet all the reg fees they want. Ethereum has doubled in the last month and its a very exciting blockchain technologoy with real world applications.
     
  18. Edwin

    Edwin Well-Known Member

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    ICO “was”? More money went into ICO in the last 2 months than the sum total of all ICO before that. So right now is when things are going super-loopy, not in the past.

    And that makes your .com analogy even more apt. Even a day or two before that market collapsed, pundits were predicting it would go up and up.

    You’re also right that a few companies survived the .com crash and later thrived, but they did so in spite of it not because of it.
     
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  19. Edwin

    Edwin Well-Known Member

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    There’s more investment money floating around now than at any time in history. If a company is a solid play with a great idea it WILL get funded. Absolutely no need to pluck the ten thousandth random crypto currency out of thin air to do so.

    If a company is “only” good enough for an ICO there’s something massively wrong with its business model, execution etc. May not be immediately obvious, but there will be a flaw somewhere.
     
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  20. Edwin

    Edwin Well-Known Member

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    And BTW Ethereum may well turn out to be the Amazon of crypto ie one of those few survivors/thrivers. Time will tell. But just because it may have a valid purpose doesn’t say anything at all about the thousands of ICO frantically piggybacking on it.
     
  21. Admin

    Admin Administrator Staff Member

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    And that was exactly the point I was making in my post. The ICO nonsense is just that. I think most wise heads know over 90% of the ICOs will slowly or not so slowly diminish to next to nothing so my point is why keep mentioning the crazy icos rather than critiquing what you think will happen to bitcoin, ethereum etc in the medium to long term. :)