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Read the whitepaper and all related docs. It is 100% not an ICO as far as I can tell. They are going to mint the stable coin backed by a pool of (####ty) assets, then put it out there (not sure how that's going to work).
correct. tied to a "basket."
It's essentially crytpto / blockchain-lite. They are using Byzantine Fault Tolerant (BFT) instead of Proof of Work (PoW). Based on the whitepaper, they aren't filling blocks. Rather, they appear to be using the nodes / validators to store the entire history of transactions. The only way to change the chain is to add a transaction. It's pseduonymous so you can hold more than one address that is not linked to your real world ID.
stuff:
Reading more, Libra code / setup is more like ETH than BTC. No true blockchain however.JerseyToughGuys said:
It’s the anti-BTH to some extent. I really don’t think it completes with BTC.
most people who are investing believe it will go well above 20k. If you believe in it, invest. I would only put in what you can afford to lose however.
I won't boast numbers, but if you go back in my post history, I've been touting it since $17 and I also recommended bailing when it hit 19k the first time. I had a number in my head when I left college on what I needed to "retire" and I wasn't too greedy with what I set it. Used half of it to ladder some lifetime deferred/and immediate annuities which would create enough which will also be covering my whole life premiums. My son has a trust set up where the money will have stipulations until he's 35.
disagree. You still can't go wrong with BTC at any price under 18k, and i still think its going to scrape 20k this year.
The charts indicate a high probability we are going to start climbing higher basically now. I also think we almost double in price by year end. We have been in the new bull run for a few months now. A new bull run will always start slow and steady from a macro perspective. Within two years BTC will probably surpass $100k at minimum. This summer was a wonderful time to buy bitcoin under 10k and was probably the last opportunity to buy bitcoin under 10k .
What’s so funny? It seems like you’re laughing because you think it’s b.s. which is fine. Those of us who have been on the bitcoin bandwagon will most certainly have the last laugh. But the thing is I don’t want to laugh at anyone I want to help people jump on board.ok
I'm not sure if I agree with the "pie in the sky" meteoric values that some people are claiming that bitcoin will reach in a year or two--but I definitely am starting to believe that there is the potential for upside. I've mentioned in the past (in some stock forums) that I believe that gold and silver had lots of room to go up in value--and I've been buying precious metals for years. I've also invested in stocks/mutual funds since I was a child--and about 8-9 years ago--I added some real estate rental properties to my portfolio. Over the past 10 years of really diversifying my investment portfolio--I've come to realize that while liquidity is comfortable and important---that "over liquidity" is a massive negative. Government issued currency is massively losing value over time--and if people sit on too much of it--eventually their wealth will get eroded away. This is why super wealthy people are always looking for asset accumulation--buying stocks, paying top dollar for prime real estate, buying companies, buying collector cars/artwork/jewelry/artwork that historically hold and increase in value. Bitcoin and other established crypto's (there are some pretty garbage novelty ones out there--and I'm not speaking of those). are basically another asset class---and they seem to be gaining traction in regards to the market taking them seriously. While I might not agree with some of the price outlooks of some of the super bullish crypto investors--I do agree that in a world where asset accumulation is a path to gain wealth--that some responsible investment in bitcoin is not a bad idea.
I own some BTC so I very mildly have some growth belief but expecting it to get to a 100k in two years is just ridiculous. There is nothing that supports that. Just an unreasonable hope.
I think that if you are a bullish bitcoin believer for long term investment--you wouldn't want it to go up in value 10x in a 2 year period. A meteoric rise like that would incentivize fraud, hacking, massive profit taking, price instability, and numerous other negative things that would come with a rise like that. It woud be much healthier for it to go up moderately or even substantially--(but not at the massive rate that you are hoping for). Nothing would be better for bitcoin prices than a stable but moderate pattern of it increasing in value. That's just my two cents.Rhythmdoctor said:
I appreciate your posts. Have you been following BTC since the beginning? The price pattern for BTC since its inception is that of extreme/parabolic moves up followed by an 80-90% correction. So what you’re describing is not really how BTC has performed throughout its entire existence.
I have followed bitcoin for a while--but not as long as you. I ended up purchasing 2 bitcoin when they were $800 each because of strong pressure from a crypto believer buddy of mine. I paid him the money and he stored my coins for me in his wallet. When bitcoin was in the $17500 range--I told him that I'd like to sell 1.5 of them and he actaully agreed with me and sold some of his own coins as well. He paid me in cash--I tipped him handsomely for pressuring me to buy--and I still had 0.5 coin left. Since then--I purchased one more coin at the $7600 range--just because I wanted some exposure and my previous profits left me playing with the house's money.
But why would mass adoption occur if the price isn’t stable? Even most people with BTC aren’t using it as a currency...to pay for pizza and the like. They are viewing it as some type of investment.
The whole point of blockchain is that it can't be manipulated. The entire ledge is always available and constantly verified. Blockchain keeps order infinitely more than current US Banking standards; Because of the design of the mining system, if price does drive up that much more people would invest in more powerful equiptment and keep things balanced.
I predominately purchase the physical metal and store it myself. I do own some mining stocks--but I prefer to own the hard asset as opposed to trusting an entire company to be completely void of fraud/indiscretion that could damage that stocks value.
I think that our visions are aligned in that we are both bullish on bitcoin. I do want to make that clear. With that said--I'm not sure that fractionalization will automatically lead to stabilization. It's not smaller denominations of currencies play a massive role in stabilizing the actual currency. Yes--perhaps the fractionalization of it will make it "more like" a currency--which will possibly lead to more people adopting it---but a currency whose value is not stable is not something that is appealing to the masses. Massive inflation and massive deflation are both unhealthy--and if bitcoin were to go up 10X in value in two years-make no mistake---the profit taking, the hacking, and the fraud that will follow will destabilize things. With that said---I do agree with you that there is massive long term upside. I just disagree that a meteoric two year rise is a trouble free and perfect avenue for it to really get adopted.
