What Makes Alt-Coins Valuable At All?
Jimmy Song joins me this week to discuss some cyrptocurrencies outside of Bitcoin. We address the question that a lot of naysayers for cyrtocurrencies ask, what makes these things valuable at all? I also get Jimmy’s opinion on the fact that Bitcoin still needs to be bought to then get into any other Alt-coins.
Click download link to listen on this device: Download Show
Click here to visit Jimmy’s YouTube channel for his past interviews on the Bitcoin market.
Also Mr. Song is US-centric, the reason why BTC and ETH are used are precursors to buying other alt-coins is because US laws require a know-your-customer rule, for which other exchanges are not built to deal with directly. In other countries some alt-coins can be bought directly.
https://m.youtube.com/watch?v=2dc27u8ilk0
Veritaseum p2p market testing beta.
The creator of the world’s fifth-biggest digital currency Charlie Lee said he has sold all his litecoin tokens over the past few days to avoid further accusations of benefiting via his own tweets.
“Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to litecoin’s success. For the first time in six+ years, I no longer own a single LTC,” he said in a Reddit post.
@RT
Mr Lee, out of MIT, will continue, however, to develop his baby, The Litecoin block chain, and aid in the Lightning network, which may greatly help in speed of processing not only LTC but other alt-coins.
Charles Sell all his Litecoin…………..The developer sell out………….should tell you something.
by Tom Turula, Business Insider:
The Swedish co-founder of Bitcoin.com has sold all his bitcoins
December 20, 2017
Emil Oldenburg, the CTO and co-founder of bitcoin.com has spent the past three years in Tokyo. Oldenburg is also the co-founder of Safello, a Swedish bitcoin exchange.
Bitcoin is “as good as useless” and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world’s largest bitcoin websites.
Oldenburg has sold his bitcoins and believes others will do the same when they realize how illiquid the market is.
He says bitcoin’s drawbacks are high fees and transaction lead times – a heated topic of discussion in the community today – and resistance to change from people running the old bitcoin network.
Oldenburg believes there’s a brighter future for Bitcoin Cash, a spinoff currency of bitcoin that is now being actively promoted by bitcoin.com.
Makes you wonder………..two big names ….Out of the market…….bubble scam…LOL
No, read the fine print.
Two different circumstances.
Charlie sells LTC so there is no appearance of self enrichment.
Oldenburg sells BTC because he believes it has strayed from its original mission.
I think , I said……….they were OUT OF THE GAME………
Both made a fortune……..then suddenly they are OUT…….any warning to investors?
Follow up on Litecoin……….
http://www.zerohedge.com/news/2017-10-17/how-tyranny-rises-and-freedom-falls-experiment-freedom-failing
oops……try this one…………
http://www.zerohedge.com/news/2017-12-21/why-charlie-lee-sold-his-litecoin
Bitcoin Poem for Christmas……..
http://www.zerohedge.com/news/2017-12-20/ho-ho-hodl-visit-crypto-claus-blockchain-holiday-poem
’Twas the night before Christmas, and all through the house
Every person was trading, including my spouse;
The mining rigs hummed in the cellar with care,
In hopes that some new bitcoins soon would be there;
The children were buying tokens from their beds,
While visions of Porsche Turbos danced in their heads;
And Mama on her laptop, and I on PC
Searched for the next big buying opportunity
But then from my desk there arose such a clatter,
I answered the phone to see what was the matter.
I squinted to see by the light of the taper,
As a teenager walked me through his white paper.
When, what to my wondering eyes should appear
But a bearded millennial drinking craft beer
He pulled out his phone, checked his what-do-you-call-it
Where one keeps one’s tokens- his digital wallet.
More rapid than lightning, the rallies they came
And he whistled, and shouted, and called them by name:
“Now Bitcoin! Now Litecoin! Now Ether and Ripple!
If Monero can double, then you can all triple!
To the top of the chart! Break the resistance wall!
Now dash away! Dash away! Dash away all!”
And then with a wink, to my office he flew
While lugging a case and swigging his brew
As he prepped his ICO pitch to help me gain,
I confirmed a few transactions on the blockchain.
His slide deck was thick; his paper, full of detail
About how he’d attract bids from Asian retail.
That was a pretty good poem and made me chuckle. Thanks for the post.
Animal Spirits Episode 6: Bitcoin, Bubbles & Bananas
Posted November 29, 2017 by Ben Carlson
http://awealthofcommonsense.com/2017/11/animal-spirits-episode-6-bitcoin-bubbles-bananas/
Cryptocurrency exchange EtherDelta suspends service following alleged hack
Jon Russell,TechCrunch – 28 minutes ago
https://www.yahoo.com/tech/cryptocurrency-exchange-etherdelta-suspends-following-042628529.html
Cyberattack brings a cryptocurrency exchange to its knees
Frank Chaparro,- Business Insider Tue, Dec 19
https://www.yahoo.com/finance/news/cyberattack-brings-cryptocurrency-exchange-knees-172300230.html
Different block chains will be developed to have different characteristics and uses. The alt-coins associated with those useful block chains will not only survive but thrive.
BTC has first-mover advantage, but also is DESIGNED to have a specific use. Because it is slow and relatively expensive to use, BTC will NOT be used or useful for everyday small transactions. Faster, cheaper coins, such as BCH or LTC will be used.
Other alt-coins, e.g. VERI, may well replace trading sites such as stock exchanges, where secure trading is performed more quickly and cheaply on that block chain. There are lots of potential uses and thus lots of potentially valuable alt-coins.