A beginner’s guide to getting started in the cryptocurrency world

Re:A beginner’s guide to getting started in the cryptocurren... by rblion on Sunday December 10, 2017 @10:46AM (#15891883)

I'm not knocking the concept of cryptocurrencies as a whole, just like I would never knock the Internet as a whole. However, I would say that a lot of people speculating with stars in their eyes without understanding the underlying technology makes me wonder when a market correction event is going to happen.

Currently on my Facebook feed there is a kid I know who is a tech support agent but now posting pictures as a "Bitcoin daytrader" and now offering classes on the subject. There is another girl who is a model for rap videos in Detroit and she posts screenshots of Bitcoin prices to show how well off she is now. I've read about hackers walking away with millions of dollars in a cryptorobbery (now a real thing). The next thing is an Ocean's 11 sequel where George Clooney and Brad Pitt pull off a cryptoheist.

I think the real innovation is blockchain and that there will be a major cryptocurrency to rise out of one of the smaller markets. I get the feeling (just a hunch) that Bitcoin will be lycos/altavista/yahoo that will inspire a Google. Maybe that company already exists (Ethereum?), maybe not.

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Re:A beginner’s guide to getting started in the cryptocurren... by rafiki6 on Sunday December 10, 2017 @07:20PM (#15894315)

Probably not. Currency isn't a search engine. It's a fundamental piece of an efficient economy. There's a reason we went to fiat currencies. I like a lot of things about bitcoin actually. I want to see an energy based currency evolve (without the actual expenditure of energy). That currency can basically be a formula that calculates value based on energy consumption and output. I think something like that would allow for a more sustainable economy.

Electricity Backed Currency: https://papers.ssrn.com/soL3/papers.cfm?abstract_id=1802166

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