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Russell wrote:What are yalls thoughts on Ripple?

We have a little Ripple. Bought some back when you could buy it on their website (2 years ago?). Recently picked up a few more.

Ripple is a commercial payment infrastructure, so it is different than all other things out there, even though they look deceptively similar. Past that, I don't know. I guess it's as good for speculating as other things.

I know the thread is dying, but I wanted to post my mining rig. I need to build a frame, really.

This is making Ethereum. This box can handle at least one more card.

92f-fan wrote:I lost interest when I realized buying in and selling are both strictly limited ...
Lets assume you mined a seemingly small number of coins back in the say. Lets say 10 - worth approximately $100k now
How do you get your $100k out ?
In less than 100 transactions ?
Go ...

Is this a real question? You open a Coinbase account, send the coins to your online wallet, sell them for USD, and send the USD to a bank account via ACH. That's all. What difference how many transactions? But I think you could do this in one move.

Getting your accounts set up at the moment is going to be slow, because everything "digital coin" is swamped.

1911 Raptor wrote:

OldCannon wrote:

rotor wrote:It's only a profit when you sell. The question is.......... when do you sell? Still a Ponzi.

Please refute the following then, take your time, I can wait:
...

Unhackable? Please.

That's appropriately skeptical. In the world today, current cryptography is not know to be breakable. But cryptography uses keys, and keys get mishandled all the time, so stealing keys is hacking, but not breaking the crypto.

Digital coin transactions are stored in ledgers that are duplicated exactly many times (millions) and stored all over the world independently. There is nothing anyone can do to corrupt or alter this ledger. Nothing. Keys associated with the transactions in the ledger can be stolen, though.

1911 Raptor wrote:From what I understand if your account somehow gets hacked your crypto currency is gone with no way to recover it. One minute you are riding high and the next it is gone like the wind.

Pretty much correct. Blockchain tech is here to stay. The way it gets used is in the infancy stage.

If you send an amount to the wrong address, gone. If your send an amount to a non-existent address, gone.

Getting hacked is <<<<< less a danger than the above.

I'm mining Ethereum. I just added a second GPU, and the room is a little warmer and noisier, since there is now a fan pointed at the box.

But, I wanted to opine about the value and utility of Bitcoin et al. The utility it has as a transfer of money has little to do with the price, since to transfer, you can get in at current price, send it, and the receiver can get out at the current price, plus/minus. I believe most merchants who take digital money work this way. Eventually your yard man will accept digital currency if he wants to get paid cash. Eventually there will be BTC ATMs so your yard man can go get his cash.

Then there is the unit price that causes all the buzz. I sure wish I had a few BTC from a few years ago. But I'm too chicken right now to buy any. So I'm mining. Maybe the mining operation will grow.

I don't believe BTC will go to 1000X. That's too much value in one coin. There will be many coins with the value spread around, but there won't be 100s of them. That's too many, IMO.