Crypto age over? Your thoughts

[FreezeFlyte]

With all the recent news and events involving illegal activities linked with crypto currencies along with the bugs in their software is it fair to say that the crypto currency age is over? With 5 million dollars worth of acounts frozen from Mt.Gox and 3.6 million dollars worth seized by the FBI from Silk road due to ties to illegal activities I want to know what people are thinking now of the crypto currencies. I will hold my own opinions on the matter to eliminate being one sided on the thread. But I want to hear from everyone on what they think is going to happen. Also please be curtious towards others and their opinions.

[TheBreaker]

You dog you double posted airdeano

[_ASSASSIN_]

It's retarded..but that doesn't mean it's going away

[Kyuubixchidori]

I believe there is going to be hiccups, but it eventually will become big. I think one that will be big will be better and more secure then current coins, but im not sure

 

something that might kill it is everyone is trying to go green, and this is literally wasting electricity to earn money. maybe if mining did something productive.

[TheNinjaNextDor]

Doge. To the mooooonnn!!

Just imagine government officials saying doge as an official currency. Have a doge card. Oh god...

That will be 15 doge.

Ok im done.

[dizmo]

And the banks rejoice!

[Fred Castellum]

I'm sure crypto currencies will continue to survive. 

[Biggerisbetter]

I think crypto is a very foolish idea for many reasons. Can't understand why people believe in a currency. That doesn't have the monetary
backing of precious metals or some type of asset.

[Shack Tastic]

I think crypto is a very foolish idea for many reasons. Can't understand why people believe in a currency. That doesn't have the monetary

backing of precious metals or some type of asset.

You do realize that the USD is backed up by no physical asset.....in fact most currency is now fiat, backed up only by taxes. The collapse of the dollar is inevitable, as all good things come to an end, whether it be tomorrow or the next century, as seen by countless civilizations from the past. Just putting my two cents out there.

[1funnygame]

most of the new currencies just seem like scams for the devs of them to get money but i doubt crypto currencies in general will go away

[1funnygame]

You do realize that the USD is backed up by no physical asset.....in fact most currency is now fiat, backed up only by taxes. The collapse of the dollar is inevitable, as all good things come to an end, whether it be tomorrow or the next century, as seen by countless civilizations from the past. Just putting my two cents out there.

but but but......its made of fancy paper so it must be worthy of my trust right? 

[nofxz]

You do realize that the USD is backed up by no physical asset.....in fact most currency is now fiat, backed up only by taxes. The collapse of the dollar is inevitable, as all good things come to an end, whether it be tomorrow or the next century, as seen by countless civilizations from the past. Just putting my two cents out there.

 

I think crypto is a very foolish idea for many reasons. Can't understand why people believe in a currency. That doesn't have the monetary

backing of precious metals or some type of asset.

At the begin the dollar was backed by an asset but over time that has become less reasonable ratio. I think the us govt holds like a 480billion dollars of gold. which is a significant ammount considering there is estimated 13trillion dollars in circulation. The only reason the dollar doesnt suffer from more significant mood swings is that the only way to buy oil is dollars per barrel. You have to convert you rupees or jelly beans to dollars in order to buy a significant ammount of oil.

[IdeaStormer]

The real money making is in creating a crypto currency that catches on, the mining is the classic miners dilemma, as in putting in the hard work and fronting the cost for it all.

 

I also think that crypto might be removed for actual work like Folding but with added benefit, other causes like Folding are getting their act together but not there yet.

[Luc401]

were are kinda reapeating the french revolution right now but faster , i think it just the start

[lukeptba]

Banks run the world.

GG crypto's, you had your fun.

[nofxz]

Banks run the world.

GG crypto's, you had your fun.

 

oh and record companys rule the music industry and movie studios are ruling the movie scene

[lukeptba]

oh and record companys rule the music industry and movie studios are ruling the movie scene

Well, to put it simply - yes.

[CCap]

The age of Crytocurrencies are only just beginning. The issue with crytocurrencies is the fact that there is not a centralized bank, which for a coin can hurt it's value quite a bit. 

 

Let us say that Bitcoin goes through inflation, similar to that of its USD counterpart. Then what do you do? You go back to the money that is accepted by other centralized banks since you know that for a while that money will not go anywhere. People will abandon the non-centralized currency right away and flea to their own country's currency. 

 

Yet, the reason that I see Crytocurrencies staying around for a while is the simple fact that a lot of consumers have put a lot of time and effort into building rigs that can mine other coins. They have spent thousands and thousands of dollars on their rigs to mine these coins, do you think that these users will let these coins die without a fight? No. They won't. 

 

If I had to make a prediction on how long these currencies will last, I would assume another two to three years. That, or until the NSA takes it over. Whenever that happens, it will either be accepted internationally and stay for the next hundred years, or they'll terminate it the second they get their grubby hands on it. 

 

Just some thoughts of mine. Disagree or agree at your own will.

[Kev]

ITT: A bunch of 12 year old arm chair economic professors.

[Imaginaerum]

At the begin the dollar was backed by an asset but over time that has become less reasonable ratio. I think the us govt holds like a 480billion dollars of gold. which is a significant ammount considering there is estimated 13trillion dollars in circulation. The only reason the dollar doesnt suffer from more significant mood swings is that the only way to buy oil is dollars per barrel. You have to convert you rupees or jelly beans to dollars in order to buy a significant ammount of oil.

I hope by 13 trillion you mean $1.3 trillion in circulation

[nofxz]

Why hasn't the movie or music industry been able to stop the things on the internet that have caused harm beyond are sights we may see. The decentralized ablity of torrents has made it very hard for them to stop it. you stop one and two more pop up. So a bump in a new road that we have barely travelled, may scar off the risk adverse among us. Some may call it dumb or what have you. But as a concept it has interesting implacations.

 

Imagine a coin network so strong and based on giving out benefits to people folding for research and research that has made enough money and wants to spend its money on solving its given equations in a shorter ammount of time then prevous ever thought. Some of the simulations we have tried to model surrounding weather and geological haven't been sucessful because of the speed at which they take to complete hinder the insight gained. 

 

I hope that folding and mining meld. so that folding will offer a strong benefit to users and the equations that need to be solved happen that much faster.

 

 

yes in general paper cash theres only 1.3 but if you count savings accounts which you can still access theres over 13?

 

http://money.howstuffworks.com/how-much-money-is-in-the-world.htm

 

 

ITT: A bunch of 12 year old arm chair economic professors.

thanks hater. just move on

[Biggerisbetter]

You do realize that the USD is backed up by no physical asset.....in fact most currency is now fiat, backed up only by taxes. The collapse of the dollar is inevitable, as all good things come to an end, whether it be tomorrow or the next century, as seen by countless civilizations from the past. Just putting my two cents out there.

The untied states is an asset. So the dollar is pegged to the growth or contraction of the US.

[Lays]

I think crypto is a very foolish idea for many reasons. Can't understand why people believe in a currency. That doesn't have the monetary

backing of precious metals or some type of asset.

 

 

Last I checked the US government no longer backs the US dollar with precious metals anymore. 

 

Crypto-currencies are no different than many other currencies in the world, the only thing people have to do is believe it has value, and viola, money.

[Biggerisbetter]

Last I checked the US government no longer backs the US dollar with precious metals anymore. 

 

Crypto-currencies are no different than many other currencies in the world, the only thing people have to do is believe it has value, and viola, money.

Even tho i made no mention of the USD being back by the gold standard. Which it has not been for decades and yes it is true people can assign value to anything. But thats does not make it a currency. Perceived value and currency value aren't the same. Crypto-currencies are not currencies because the value in them have been added by the people that use them.

[Shack Tastic]

Even tho i made no mention of the USD being back by the gold standard. Which it has not been for decades and yes it is true people can assign value to anything. But thats does not make it a currency. Perceived value and currency value aren't the same. Crypto-currencies are not currencies because the value in them have been added by the people that use them.

I love the idea of a crypto-currency, and while its a %100 true that "cryptocurrencies" arent actual currencies, they can still be a great investment right now. Someday, after we get past all of the speculation of these coins, and volatility decreases, I think that true crypto-currencies will exist.