Author Topic: Taking a Bite Out of Bitcoin  (Read 500 times)

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Offline PandaCollector

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Taking a Bite Out of Bitcoin
« on: February 21, 2019, 11:09:14 PM »
"Once hailed as unhackable, blockchains are now getting hacked"

https://www.technologyreview.com/s/612974/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/

Whither Blockchain and does that have any significance for coins?

Best wishes,
Peter Anthony
NGC Consultant
China Pricepedia — Chinese Coin Prices and More
The Gold & Silver Panda Coin Buyer’s Guide 3
www.pandacollector.com

Offline pandamonium

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Re: Taking a Bite Out of Bitcoin
« Reply #1 on: February 22, 2019, 07:37:08 AM »
blockchain getting hacked?     Looks like those investors will turn to gold/silver.....

Offline Jens

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Re: Taking a Bite Out of Bitcoin
« Reply #2 on: February 22, 2019, 04:05:40 PM »
I don't think this will have a big impact. Hacking of exchanges or users wallets doesn't hurt crypto as a whole, neither do  51 percent attacks on some shitcoins that nobody except some pump and dump groups care about.
And even if it did i don't think a lot of people who invest in crypto are interested in gold/silver.
Most of those people want to make a quick buck with technical analysis/daytrading/getting on board first with a new coin before it gets hyped/pumped.

Offline PandaCollector

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Re: Taking a Bite Out of Bitcoin
« Reply #3 on: February 22, 2019, 04:12:40 PM »
I don't think this will have a big impact. Hacking of exchanges or users wallets doesn't hurt crypto as a whole, neither do  51 percent attacks on some shitcoins that nobody except some pump and dump groups care about.
And even if it did i don't think a lot of people who invest in crypto are interested in gold/silver.
Most of those people want to make a quick buck with technical analysis/daytrading/getting on board first with a new coin before it gets hyped/pumped.

Do you think this will affect future demand for Bitcoin by new potential buyers, people who do not own it already?

Best wishes,
Peter Anthony
NGC Consultant
China Pricepedia — Chinese Coin Prices and More
The Gold & Silver Panda Coin Buyer’s Guide 3
www.pandacollector.com

Offline Jens

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Re: Taking a Bite Out of Bitcoin
« Reply #4 on: February 23, 2019, 05:28:40 AM »
I don't see much demand by new potential buyers at the moment anyway tbh, but that might change at any time if there is some good new regarding crypto and people want to get on board before it takes off again.
At the moment i just don't see any working real-life applications for bitcoin, it's just too hard to get and spend for the average person, so it's mostly speculation or for some it is some kind of "digital gold", but the ups and downs are much higher than with physical gold.
Of course there are people who prefer bitcoin over physical gold for some reason but after the last crash i don't think there is a lot of them.
I think we will probably see a cryptocurrency or two that get mass adoption in the future but (unfortunately) i can only guess which one.
And it doesn't even have to be one that already exists, if for example facebook, google or amazon decided they need to use a cryptocurrency they could easily create their own one, it's not like the concept is patented by someone. That would probably not positively affect the price of the ones that already exist in the long run.
So overall at the moment i'm not holding my breath for the crypto market to get back to it's former heights, but of course there are still people who earn good money with crypto, but that takes a lot of work and experience imho.
Full discloure: I'm still sitting on a small stack of ADA (cardano) and plan to hold it in case the crypto market does take off again.

Offline chinesecoins.com

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Re: Taking a Bite Out of Bitcoin
« Reply #5 on: February 23, 2019, 10:05:15 AM »
Bitcoin > Gold as far as I'm concerned.
$70bn market versus $7T



Offline pandamonium

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Re: Taking a Bite Out of Bitcoin
« Reply #6 on: February 25, 2019, 05:43:17 PM »
Looks like everything gets hacked.     When/if Paypal gets hacked then the effects will be interesting but not good.....

Offline pandamonium

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Re: Taking a Bite Out of Bitcoin
« Reply #7 on: February 26, 2019, 07:33:12 AM »
Past Master Sets have had a impact on some gold pandas in the past.    Peter, Arif or whom ever; do you see present or future demand for Master Sets???.....

Offline KeyDate1/2ozPandas

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Re: Taking a Bite Out of Bitcoin
« Reply #8 on: February 26, 2019, 09:17:19 PM »
Dealers have stockpiles of inventory.  Chinese like to collect sets.  At some point, a promotion will occur that satisfies supply and demand.  I don't worry about when because I am certain it will happen in my lifetime. 

The more interesting question which pandamonium will be excited to read and comment on is what will happen to the price of gold if a democratic socialist gets elected in 2020.  Saw this great meme today on FB, if this is the path that the country is headed than in 5 years gold will be at levels that we can just melt 1995 1/2 and not worry about master sets.  I am looking forward to when gold breaks $1400, that will be the time to add some more physical, if it breaks $2000 time to go all in.  When gold does break, watch bitcoin or bitcon to follow suit, the young people will never buy gold so that will be a nice complementary investment. 

Offline pandamonium

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Re: Taking a Bite Out of Bitcoin
« Reply #9 on: February 28, 2019, 07:36:39 AM »
Good to know dealers have stockpiles of inventory.      I think demand could happen quicker than what most people estimate.   

Demon crats will cause fatal harm to the West when they take over just like your photo.     FOX news ID'ed over 10 Hoax Hate Crimes, the most recent being Jussie Smollet.     All fake designed to cause intense emotions and harm to MAGA hats or Trump supporters.     The Demoncrats sell the herd high emotions hoping for a violent response.     This is done, over and over again.   To better understand this Google to "Pavlov".      Amazing how many millions of fools take the bait hook, line and sinker.     For the rest of us it is stupid theater but shows the direction the West is headed.   Very important to own metals and live in a rural community... 

It looks to me that Trump/China will strike a trade deal and hopefully keep a lid on gold prices but articles say gold is now in a sawtooth climb up and expect gold to go up $100 to $200 a day.        Just what i read.     I still think the rich Chinese will outbid the world for their National Pride gold/silver rarities no matter how high bullion climbs.      The East is rich w/ gold and the West is going psycho w/ fake news.......   

Offline SANDAC

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Re: Taking a Bite Out of Bitcoin
« Reply #10 on: February 28, 2019, 09:53:31 AM »
I'm locking this thread because of too much political discussions.  I don't disagree that politics can and do affect coin investment direction and I don't have problems with speculation about the current trend of politics and how it may affect coin investment.  However, when the political discussions only lead to heated debates that will not change anyone's mind, then they are waste of time for the readers and moderators. 
  --SANDAC