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Molby

Cryptocurrencies and other important new technologies

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Its enough that you are taking it seriously, to suggest it may have further potential. Its a pity, because a bankrupt Molby would be fascinating!

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:cooler: :cooler:

 

 

Who do I submit the expense claim to, for all the beers?

To Molby, obviously. But only accept whole Bitcoins.

 

The challenges I see are that as a universally accepted "replacement" for nationally driven cash currency, a representation of value, "it" needs to have ubiquity. The £1 coin in your pocket has that in the UK and as such is seen as "valuable" in the U.K. The current crypto model doesn't have that although it's gaining traction just through increased conversations/understanding and stepping out of geekdom/SilkRoad. The nearest is Bitcoin as it has name recognition but with that comes its own issue: hoarding. To have that value in exchange and be a "cash equivalent" it must be exchanged and Bitcoin is a victim of its own success in that it is hoarded by the likes of Molby to "cash out of" later at a higher value due to rarity value rather than exchanged: why buy a pint with my Bitcoin now when I can buy the pub in a year? Yet numerous other cryptocurrencies reduce that universality and at the same time reduce exchange-ability: "sorry, we don't take them, only Bitcoin". The same as the €1 coin you bring home from your hols is useless until you go back to France and want a croissant.

 

So I'm coming out thinking that there's all sorts of applications for the idea (and ethos), but simply replacing one unit of exchange ("cash" - or PayPal) for another (crypto) is limited unless there's some sort of benefit and currently, the benefit is speculation (aka Molby getting rich) . I am sure there'll be a shakeout of those which will gain that widespread acceptance - either geographically or by industry/use etc but at the moment that strikes me as a gamble (Tulips).

 

I guess I am struggling with "what's the USP". Cash works though is nationaly focused as does PayPal/cards for online activity and we already seem to accept big brother knows exactly what we do/buy with our cards/net activity. So not sure what it adds there beyond the portability of large amounts across borders without detection on an SD card and storage not in a bank in need of a bail-in. Cash could crash completely as we inflate away value (Reichsmarks) in which case crypto may well come to the fore, but as in prison, so might ciggies or anything else that might have perceived value in the zombie apocalypse. q.v. Vish

 

Perhaps I'm just old and need to evolve beyond a Bitcoin being worth a cash value in £ or $ or €. If I am constantly think in those terms, I am perhaps thinking of it as an alternative store of value, rather than a new medium of exchange. And if it is just the former, fine, but there needs to be a shakeout of which ones are "valuable".

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Store of value is probably the right way to think ATM

Not so sure of the image of me as a hoarder

It's kinda true but now I'm seeing myself on a Nazi propaganda poster

I will spend some when I can - cappuccino in Shoreditch etc

Also I've bought some Liverpool Pound..... to use

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Why would someone else doing it put you off?

 

Surely the world is big enough for two suppliers of really cool geek s*** like this??

I'd have to work harder

#FSGaremyinspiration

#moneyfornothing

#rightplacerighttime

 

But when I'm done, I'll be putting something back

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Why so little talk of mining? I've been mining Ethereum for quite a while and it's still well worth it as far as I'm concerned.

 

tell us more ? How much time and money do you put into it, and how much do you gain ?

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Thinking of going into crypto mining has anyone had any experience of this. After doing a bit of research it's all gpu based. Does anyone here make good money out of it

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How's zerohedge these days?

Still full of complete libertarian nut jobs stacking cans, silver and ammo whilst waiting for the zombie apocalypse? There was some good stuff there for a while but I think it became clickbait and made up news to pander to the above so did myself the favour.

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Buying this stuff is not the easiest, and it seems like the only place it is reasonably straightforward is the not exactly confidence inspiring bittylicious. 

 

Read that Bitcoin is restricted to 21 million units at this point, which imo is more likely to cause the price of it to continue to rise. 

 

Apparently Ether has no such limit, which means it could get diluted and devalued at some point, which seems more of a risk. 

 

 

Still reading lots of stuff on it, there's a lot of info out there. 

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Buying this stuff is not the easiest, and it seems like the only place it is reasonably straightforward is the not exactly confidence inspiring bittylicious.

 

Read that Bitcoin is restricted to 21 million units at this point, which imo is more likely to cause the price of it to continue to rise.

 

Apparently Ether has no such limit, which means it could get diluted and devalued at some point, which seems more of a risk.

 

 

Still reading lots of stuff on it, there's a lot of info out there.

Ether is like energy not currency

Even bitcoin is more store of value than currency ATM

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Read this on Bloomberg a last week.

https://www.bloomberg.com/news/articles/2017-07-25/bankers-ditch-fat-salaries-to-chase-digital-currency-riches

 

A report on the ICO market:

https://next.autonomous.com/download-token-mania/ 

Over $1.2 billion in Cryptocurrency was raised through Initial Coin Offerings (“ICOs”) in the first half of 2017, far outstripping venture capital investment into Blockchain and Bitcoin firms. Of that amount, approximately $600 million was raised in last 30 days alone.

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