Originally posted by Chew
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Originally posted by Chew View PostCan someone explain the flashdrive/paper wallet concept? How can your bitcoin grow or even be in play if it's not in a cyber "wallet"?
The wallet address is like an account number . What is being stored offline is the “ seed phrase “ and passwords etc. if you own 1 btc it’s worth what it’s worth. If you need to send it somewhere then you connect online for the transfer. Basically you hold the keys to the vault offline . If you trust a wallet that doesn’t give you the seed phrase , or you store it on your computer then it’s at risk.
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Originally posted by ttaxidermy View Post"Easy come, easy go"..
"If it soilunds to good to be true it usually always is"..
These two saying have held true my entire life....
I hope I'm wrong because I have friends who have went all in.....
If this thing crashes the suicide rate will sky rocket..
And soilunds sounds like something I'd do if a 200" buck walked by my stand
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Interesting read...
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There are serious business flaws with Cryptocurrencies. Businesses require CAPITAL to grow. Savings and loans are the foundation - all tied to Financial Institutions, Cryptocurrency UN-BANKS - DISCONNECTS Capital from the foundation critical in the Banking element required for business.
The novelty of digital money isn't really much of a novelty. NASDAQ is an example of a fully digital system that happens to tie itself nicely into the Banking element so critical for business.
Bitcoin is rolling along like the .com bubble....in many ways. Everyone wants to ride but, some of the underlying dynamics to support Savings\Lending and Risk management tied to the Banking element are non-existent.
Blockchain technologies - this will be the foundation of something beyond BITCOIN. And this foundation will be tied to a global commerce network, covered by a globally connected economy. But the difference will be, each Country will tie into this backed by the State. It will simplify monetary exchanges and standardize the various currency types (physical coins and bills) to points, the Blockchain exchange rates will cover each Countries current monetary value as related to the world-wide economy. This Blockchain based digital network will maintain economic performance standards critical with countries that are performing globally and those that are reduced, will be reflected and not "draw down" the rest of those Nations are doing their fiscal part globally. The blockchain encrypted protocol will probably encapsulate an country of origin in the handshake? This will designate the State and Currency rate source.
The Greece financial deficit drain on the EU for example.....fiscal issues within drew down the value of the EU globally.
There will be no free rides.Last edited by AtTheWall; 11-30-2017, 09:20 PM.
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Originally posted by AtTheWall View PostThere are serious business flaws with Cryptocurrencies. Businesses require CAPITAL to grow. Savings and loans are the foundation - all tied to Financial Institutions, Cryptocurrency UN-BANKS - DISCONNECTS Capital from the foundation critical in the Banking element required for business.
The novelty of digital money isn't really much of a novelty. NASDAQ is an example of a fully digital system that happens to tie itself nicely into the Banking element so critical for business.
Bitcoin is rolling along like the .com bubble....in many ways. Everyone wants to ride but, some of the underlying dynamics to support Savings\Lending and Risk management tied to the Banking element are non-existent.
Blockchain technologies - this will be the foundation of something beyond BITCOIN. And this foundation will be tied to a global commerce network, covered by a globally connected economy. But the difference will be, each Country will tie into this backed by the State. It will simplify monetary exchanges and standardize the various currency types (physical coins and bills) to points, the Blockchain exchange rates will cover each Countries current monetary value as related to the world-wide economy. This Blockchain based digital network will maintain economic performance standards critical with countries that are performing globally and those that are reduced, will be reflected and not "draw down" the rest of those Nations are doing their fiscal part globally. The blockchain encrypted protocol will probably encapsulate an country of origin in the handshake? This will designate the State and Currency rate source.
The Greece financial deficit drain on the EU for example.....fiscal issues within drew down the value of the EU globally.
There will be no free rides.
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I don't understand much about it, but I'm learning! What I do understand is there are ways that keep some crypto currencies are structured to keep them decentralized which will help keep some of the greedy gov. money mongers out of as big a bite as they get now. Anything that will make currency easier to move individual to individual has got to be a good thing!
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