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Search: Posts Made By: bobwest
Forum: Cryptocurrency February 5th, 2019, 11:19 AM
Replies: 226
Views: 51,876
Posted By bobwest
Hard to know whether to cringe or to laugh. I did...

Hard to know whether to cringe or to laugh. I did both.

I did have the thought that one of the appeals of crypto currencies is to not be dependent on any central authority or organization; there's...
Forum: Cryptocurrency August 6th, 2018, 12:40 PM
Replies: 226
Views: 51,876
Posted By bobwest
A vehicle for speculation. Not a currency...

A vehicle for speculation.

Not a currency (if not used as currency), not a store of value (if price keeps gyrating around.)

A way to make a buck real fast, if you're not the last one.

Bob.
Forum: Cryptocurrency June 25th, 2018, 07:05 AM
Replies: 226
Views: 51,876
Posted By bobwest
The fact that the price crashed was relatively...

The fact that the price crashed was relatively non-bullish.

Bob.
Forum: Cryptocurrency June 24th, 2018, 07:28 AM
Replies: 226
Views: 51,876
Posted By bobwest
I have to say that probably just under 100% of...

I have to say that probably just under 100% of the trading activity in various blockchain/DLT coins was probably only about getting rich quick. I'm not sure how close it has been to 100, but I...
Forum: Cryptocurrency June 14th, 2018, 11:18 AM
Replies: 226
Views: 51,876
Posted By bobwest
Skepticism about cryptos seems to have died down...

Skepticism about cryptos seems to have died down a bit.

Here's something that may justify ramping it up some -- an academic paper that examined millions of transactions and found patterns that...
Forum: Cryptocurrency February 22nd, 2018, 09:09 AM
Replies: 226
Views: 51,876
Posted By bobwest
$20 trillion is a lot of money. About the...

$20 trillion is a lot of money.

About the size of the entire US economy in GDP ($19.36 trillion.) Source: https://en.wikipedia.org/wiki/Economy_of_the_United_States

This stuff is play money,...
Forum: Cryptocurrency February 14th, 2018, 02:01 PM
Replies: 226
Views: 51,876
Posted By bobwest
Ouch. Anything new always involves, to some...

Ouch.

Anything new always involves, to some degree, throwing off the restraints of the old.

The problem is that sometimes the old restraints were a good idea, and not all new things will work...
Forum: Cryptocurrency February 5th, 2018, 08:15 AM
Replies: 226
Views: 51,876
Posted By bobwest
I expect you're right about this. But it's going...

I expect you're right about this. But it's going to shock and probably hurt a lot of people, if it does crash.

Bob.
Forum: Cryptocurrency February 4th, 2018, 09:00 PM
Replies: 226
Views: 51,876
Posted By bobwest
I am not happy about always appearing to take the...

I am not happy about always appearing to take the negative side in any discussion on bitcoin or the other cryptos. I don't know enough about the future to really be able to say how it will all turn...
Forum: Cryptocurrency February 4th, 2018, 12:13 PM
Replies: 226
Views: 51,876
Posted By bobwest
Really, I think you can't tell how it will all...

Really, I think you can't tell how it will all turn out. I will certainly feel foolish if any of the cryptos turn out to be a good thing.... But I have, at present, a level of disbelief in the...
Forum: Cryptocurrency February 4th, 2018, 09:55 AM
Replies: 226
Views: 51,876
Posted By bobwest
This whole mining thing has always puzzled me: ...

This whole mining thing has always puzzled me:



In other words, "I have consumed a large amount of electricity, and therefore I am (and should be) rich." Of course, I do understand that what...
Forum: Cryptocurrency January 24th, 2018, 08:49 AM
Replies: 226
Views: 51,876
Posted By bobwest
:sarcastic: Essentially, making payments is...

:sarcastic:

Essentially, making payments is the major reason you have and need a "currency." (Yes, there are other uses, but if you can't buy something with it, then is it money, crypto or...
Forum: Cryptocurrency January 9th, 2018, 03:55 PM
Replies: 226
Views: 51,876
Posted By bobwest
Not a bubble. Can't be.... Full story...

Not a bubble. Can't be....



Full story here:

Dogecoin, a cryptocurrency created as a joke about a dog meme, has a market cap above $2 billion - Business Insider...
Forum: Cryptocurrency January 3rd, 2018, 02:29 PM
Replies: 226
Views: 51,876
Posted By bobwest
I am following this drama with interest, and, as...

I am following this drama with interest, and, as I have previously posted, I think the cryptocurrency markets are in an unsustainable bubble-type advance.

With that said, I have tried in the past,...
Forum: Cryptocurrency January 2nd, 2018, 12:26 PM
Replies: 226
Views: 51,876
Posted By bobwest
Case in point: how long it took for US banks to...

Case in point: how long it took for US banks to switch to chip technology for credit and debit cards, when it was universal in Europe for years.

Bob.
Forum: Cryptocurrency December 28th, 2017, 01:16 PM
Replies: 226
Views: 51,876
Posted By bobwest
You're right, of course. I knew about the drug...

You're right, of course. I knew about the drug money -- it's been a mainstay of cryptos for years. After all, who has a bigger reason to use easily and anonymously launderable money?

I was just...
Forum: Cryptocurrency December 26th, 2017, 09:41 PM
Replies: 226
Views: 51,876
Posted By bobwest
A very disturbing article on alt-right...

A very disturbing article on alt-right organizations' use of Bitcoin.

Obviously, other users of Bitcoin are not tarnished in any way by any association with them, but these groups are among those...
Forum: Cryptocurrency December 25th, 2017, 11:42 AM
Replies: 226
Views: 51,876
Posted By bobwest
Of course, I have no idea how the...

Of course, I have no idea how the Bitcoin/cryptocurrency market will work out, and it may turn right back up again.

But for the fundamental view, this article may add some perspective. It gets a...
Forum: Cryptocurrency December 21st, 2017, 10:01 PM
Replies: 226
Views: 51,876
Posted By bobwest
From twitter: ...

From twitter:

https://nexusfi.com/attachment.php?attachmentid=244913


Link here:
https://twitter.com/bykevinclark/status/943930156300886016

Wow.
Forum: Cryptocurrency December 18th, 2017, 12:03 PM
Replies: 226
Views: 51,876
Posted By bobwest
That's right, and I should have said it that way...

That's right, and I should have said it that way more clearly. My point was that when the Bitcoin "disappeared" it was kind of like when a bank gets robbed and the money "disappears" -- it really is...
Forum: Cryptocurrency December 17th, 2017, 12:55 PM
Replies: 226
Views: 51,876
Posted By bobwest
Just tuned in to this thread to see what it was...

Just tuned in to this thread to see what it was all about.

I remember the housing bubble, and made some (smallish) money in it too. (And got out early, by luck, and stayed out.) I was not...
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