Dogecoin falling like a rock!

[Earthjade]

Dogecoin and Litecoin doing surprisingly well. They recovered.

I am seeing a weakening of Bitcoin, though - based on months of watching the news, trends, charts.

LTC and DOGE seem to be holding on well. I wouldn't be surprised if more buyers would flow into the latter two instead of buying the riskier BTC.

DOGE and Litecoin are closer to decentralized than Bitcoin - which was ruled by a few major exchanges, while the latter two are further away from being so strongly affected by a handful of exchanges.

I think a true crypto is less dependent upon exchanges.

The exchanges acted a bit like the forex markets.

I think because DOGE and LTC aren't listed on so many major markets, they are less vulnerable.

What?
Is there a February Fool's Day now as well?
Or maybe they just legalised hallucinogens?

 

[ashleyd123]

Dogecoin and Litecoin doing surprisingly well. They recovered.

I am seeing a weakening of Bitcoin, though - based on months of watching the news, trends, charts.

LTC and DOGE seem to be holding on well. I wouldn't be surprised if more buyers would flow into the latter two instead of buying the riskier BTC.

DOGE and Litecoin are closer to decentralized than Bitcoin - which was ruled by a few major exchanges, while the latter two are further away from being so strongly affected by a handful of exchanges.

I think a true crypto is less dependent upon exchanges.

The exchanges acted a bit like the forex markets.

I think because DOGE and LTC aren't listed on so many major markets, they are less vulnerable.

I think you don't have any idea what you're talking about, to be honest.

ill second that motion

Make that 3 .

 

[Load of Bullion]

I think you don't have any idea what you're talking about, to be honest.

ill second that motion

Make that 3 .

+ another

 

[TreasureHunter]

You can say what you want, but a quarter of Bitcoin's market cap disappeared. It's going down.

Some massive sales must have crushed DOGE, it's 0.001 $.

With this volatility, with these huge crashes I think we should think again about gold and silver. Why turn away from PM's and buy extremely volatile unstable digital currency. Despite them being great inventions and sounding promising, I think the first generation of digital currencies and their infrastructure are strongly flawed. Bitcoin especially.

 

[RetardedMonkey]

Some massive sales must have crushed DOGE, it's 0.001 $.

DOGE, like most other crypto currency in existence, is tied to BTC, not the USD.

Stop comparing them?

 

[slipage]

Dogecoin and Litecoin doing surprisingly well. They recovered.

I am seeing a weakening of Bitcoin, though - based on months of watching the news, trends, charts.

LTC and DOGE seem to be holding on well. I wouldn't be surprised if more buyers would flow into the latter two instead of buying the riskier BTC.

DOGE and Litecoin are closer to decentralized than Bitcoin - which was ruled by a few major exchanges, while the latter two are further away from being so strongly affected by a handful of exchanges.

I think a true crypto is less dependent upon exchanges.

The exchanges acted a bit like the forex markets.

I think because DOGE and LTC aren't listed on so many major markets, they are less vulnerable.

I think you don't have any idea what you're talking about, to be honest.

+1

 

[grinners]

You can say what you want, but a quarter of Bitcoin's market cap disappeared. It's going down.

Some massive sales must have crushed DOGE, it's 0.001 $.

With this volatility, with these huge crashes I think we should think again about gold and silver. Why turn away from PM's and buy extremely volatile unstable digital currency. Despite them being great inventions and sounding promising, I think the first generation of digital currencies and their infrastructure are strongly flawed. Bitcoin especially.

Could you please explain this part TreasureHunter?

 

[TreasureHunter]

It's pretty explicit. No need to explain.

Trust is going down, prices are down. Digital currencies need to be re-thinked.

 

[dozerz]

It's pretty explicit. No need to explain.

Trust is going down, prices are down. Digital currencies need to be re-thinked.

re-thunked? are you a government economist by any chance?

its a 10% rise today in btc price btw.

 

[TreasureHunter]

It's pretty explicit. No need to explain.

Trust is going down, prices are down. Digital currencies need to be re-thinked.

re-thunked? are you a government economist by any chance?

its a 10% rise today in btc price btw.

No, not "re-thunked"

I'm not a "government economist". I am an economist, though

I think these exchanges hurt Bitcoin a lot.
Digital currencies are said to be "decentralized", but their exchanges as centralized. They are real firms than can just go bankrupt with hidden interests behind them. Now people want to go after Mt.Gox for their money and they can't.

The system is flawed...

Someone could invent a program, an application through which they can be traded easily. This way the exchanges won't be necessary. They won't have the interest to charge anything.

Still, swapping from one crypto to the other would be possible. And the process wouldn't be vulnerable to any company going bankrupt.

This is why I think what I called "the infrastructure" is flawed. If a downloadable exchange program would allow swaps between cryptos, there would still be fluctuations and price variations, so the total system could function independently.

Anyway, I believe more in PM's than in cryptos. I just think a new crypto could come after Bitcoin. I wouldn't mind if that were Litecoin or Dogecoin

But if governments start banning them, the cryptos are doomed anyway! :/

 

[Load of Bullion]

Anyway, I believe more in PM's than in cryptos.

With this volatility, with these huge crashes I think we should think again about gold and silver. Why turn away from PM's and buy extremely volatile unstable digital currency.

Personally, I did not turn away from PMs. We are talking about different asset classes. I have pretty much finished with stacking PMs. PMs have their limitations. The world does not use PMs in any significant manner for day to day trades. The market decides.
I stack PMs for various reasons, but they are limited as an asset. I've been involved with the PM market for some years now. In a world of diversity and breaking technologies, I want diversity. I have crypto currencies because I see great utility and I'm prepared to take a risky investment also. Cryptocurrencies continue to evolve and develop.
Bitcoin was actually a major invention in cryptography. A new and major breakthrough. It is rightfully termed "a disruptive technology". PMs are not a new disruptive technology. As far as the consumer investment side of things goes, PMs get hoarded away only to 'collect dust'. There is next to no practical utility involved except "door stops".
If I end up using PMs for day to day trades in my life, I would expect that the world around me have devolved 'back in time' into some sort of Mad Max/Iron age nightmare. Somehow I survived the transition to live amidst the squalor!.
Your comparison of PMs vs cryptocurrencies is irrelevant to me. It is almost chalk vs cheese. One is physical, the other is digital. PMs offer some great aspects whilst crypotcurrencies offer some similar aspects as well as aspects PMs don't have. I see companies utilising crypocurrencies now and benefitting with financial gains aside from speculation. Bitcoin is developing. So are other cryptocurrencies. I see major evolution taking place in the crypocurrency market place.
If you are going to be involved with any personal significance in a market, I think one should have a reasonable understanding of it as well as a reasonable level of faith in it.
The potential ramifications of cryptocurrencies are huge, IMO. Sure, many more govts may try to clamp down or make cryptocurrencies illegal as time rolls on.
There is risk involved although there are many risks in many aspects of markets and life! (mind that bus). I don't think cryptocurrencies are for everyone.
Like email, I think cryptocurrencies are worth trying out. Tech improves with time.
With all due respect.after reading your various summaries of crypocurrencies on SS here and there, I would suggest you are probably better off sticking to PMs for the most part, at this point in time.

 

[RetardedMonkey]

It's pretty explicit. No need to explain.

Trust is going down, prices are down. Digital currencies need to be re-thinked.

That's why Bitcoin went up over $100 on BTC-e last night? Right?

 

[markc]

No, not "re-thunked"

I'm not a "government economist". I am an economist, though

I think these exchanges hurt Bitcoin a lot.
Digital currencies are said to be "decentralized", but their exchanges as centralized. They are real firms than can just go bankrupt with hidden interests behind them. Now people want to go after Mt.Gox for their money and they can't.

The system is flawed...

Someone could invent a program, an application through which they can be traded easily. This way the exchanges won't be necessary. They won't have the interest to charge anything.

Still, swapping from one crypto to the other would be possible. And the process wouldn't be vulnerable to any company going bankrupt.

This is why I think what I called "the infrastructure" is flawed. If a downloadable exchange program would allow swaps between cryptos, there would still be fluctuations and price variations, so the total system could function independently.

Anyway, I believe more in PM's than in cryptos. I just think a new crypto could come after Bitcoin. I wouldn't mind if that were Litecoin or Dogecoin

But if governments start banning them, the cryptos are doomed anyway! :/

We're in early stages of a new technology. Of course there will be hiccups, flaws and volatility. Give it time and it will be sorted.

Regarding a trading application, it would still need a centralised service to escrow transactions between the various parties. Not everything is perfect.. Yet.

 

[Earthjade]

It's pretty explicit. No need to explain.

Trust is going down, prices are down. Digital currencies need to be re-thinked.

That's why Bitcoin went up over $100 on BTC-e last night? Right?

Yeah, I'd like to know what the hell happened to spur the price up so dramatically.

 

[SilverKendo]

This might be a dumb question from a newbie but if a government "bans" cryptos does that really matter? How can they enforce their ban on them? If I want to trade my hamburger for your crypto or some seashells or paper or whatever how will a government really stop me? It might not allow an exchange to be set up in its country but to ban the use of the currency is as difficult as banning the internet. You might as well try to ban World of Warcraft and Youtube. What am I missing?

 

[JulieW]

This might be a dumb question from a newbie but if a government "bans" cryptos does that really matter? How can they enforce their ban on them? If I want to trade my hamburger for your crypto or some seashells or paper or whatever how will a government really stop me? It might not allow an exchange to be set up in its country but to ban the use of the currency is as difficult as banning the internet. You might as well try to ban World of Warcraft and Youtube. What am I missing?

A data sharing arrangement with the NSA and the extinction of online privacy.

 

[RetardedMonkey]

This might be a dumb question from a newbie but if a government "bans" cryptos does that really matter? How can they enforce their ban on them? If I want to trade my hamburger for your crypto or some seashells or paper or whatever how will a government really stop me? It might not allow an exchange to be set up in its country but to ban the use of the currency is as difficult as banning the internet. You might as well try to ban World of Warcraft and Youtube. What am I missing?

A data sharing arrangement with the NSA and the extinction of online privacy.

Easily stopped by hosting the exchange in a country that doesn't give a toss about American laws.

 

[JulieW]

This might be a dumb question from a newbie but if a government "bans" cryptos does that really matter? How can they enforce their ban on them? If I want to trade my hamburger for your crypto or some seashells or paper or whatever how will a government really stop me? It might not allow an exchange to be set up in its country but to ban the use of the currency is as difficult as banning the internet. You might as well try to ban World of Warcraft and Youtube. What am I missing?

A data sharing arrangement with the NSA and the extinction of online privacy.

Easily stopped by hosting the exchange in a country that doesn't give a toss about American laws.

You miss the point. They don't care about laws or jurisdictions. The entire internet is their hunting ground.

 

[Shaddam IV]

This might be a dumb question from a newbie but if a government "bans" cryptos does that really matter? How can they enforce their ban on them? If I want to trade my hamburger for your crypto or some seashells or paper or whatever how will a government really stop me? It might not allow an exchange to be set up in its country but to ban the use of the currency is as difficult as banning the internet. You might as well try to ban World of Warcraft and Youtube. What am I missing?

A government ban will stop the currency being accepted commercially except in an underground sense, and you will always be worried that the next person that buys a hamburger from you will be an inspector. It would also taint the crypto currency in the eyes of the average Joe Blow citizen, basically relegating the currency to pub transactions between users. I guess it would force the currency to be used only by criminals for criminal activity if by definition anyone using it is doing so illegally.

 

[RetardedMonkey]

A data sharing arrangement with the NSA and the extinction of online privacy.

Easily stopped by hosting the exchange in a country that doesn't give a toss about American laws.

You miss the point. They don't care about laws or jurisdictions. The entire internet is their hunting ground.

Cool.

Add encryption.