[schi]

Hey everyone,

I am not sure if you guys are into cryptocurrencies – but as of late the money that has been poured into altcoins is fucking outrageous ! So many jumps within the marketplace is really starting to get me excited for my investments to rise 😀

I have some money in Digibyte and Litecoins; and a few on my radar which I am considering investing into. 

If you have no idea what I am talking about please let me know and I will go on a rampant on how you should all be aware. 😀
Happy days!

[Socrates]

Thread moved to Economics section.

I’m kind of aware of Bitcoin, but please go ahead @”schi” tell us more!

[kFoyauextlH]

I don’t know about or understand most newish things probably.

[Socrates]

The major confusion is no one has cleared up whether or not Bitcoin is a currency, or a commodity.

[kFoyauextlH]

Haha oh I guess I’m not that behind afterall then because I am still stuck on that question. I would consider it a commodity that people seem to insist is a currency except I have not seen it accepted in most places or considered worth much to these ignorant masses who insist upon some national money connected to changing rates and gold value or whatever strangeness. What I would like is to hack tons of digital money and be infinitely rich due to a glitch or something which no one really knows or notices.

[schi]

Bitcoin themselves are decentralised processing of payments through public hash sharing. Bitcoins i would see them as being a currency themselves; considering japan has recognised it as a legal form of exchange. 

Altcoins or alternative crypto currencies are more comodities rather than a currency. For a number of reasons that include not having the widespread recognitio that bitcoin (the original) has, and two because they have application within the market. Some of the good altcoins are innovating the real world much to our ignorance, simply because it isn’t implemented and is in testing and devloping stages. Such as Ripple or (XRP) with much critisism from crypto enthusiasts, are attenpting to work with the banking industry to provide instabt transactions that the coin is able to provide. Other coins like Litecoin may speed up current bitcoin transactions with new protocol technology that would act as a testing ground for the popular bitcoin. 

Its a really interesting time to get on board if you are into investing as a lot of the initial market development is happening right now. 
1.techos
2. investors
3. corporations 
4. ???
these are the steps its looking like the movement is taking. If yous want more information feel free to ask or pm me.

[atreestump]

What’s the long term plan for these commodity-currencies?
[hr]
The reason I ask is because it looks like a bubble is building here.

[kFoyauextlH]

Great observation. Looking at this from a normal economic sense that is mainly what I can see.

[schi]

What’s the long term plan for these commodity-currencies?
[hr]
The reason I ask is because it looks like a bubble is building here.

Each coin has their own philosophy. Although still currencies these ‘commodity coins’ usually have some sort of application benefit. As mentioned earlier; Ripple (XRP) wanted to use their algorithm for instant banking transfers, but have now receded on their efforts and are staying decentralised. Other coins have their purposes in coding, tech industry etc. Of course there are meme coins that essentially have no innovative purpose, but I recommend doing your own personal research.

And to answer to you, yes there is a current bubble from the hype and contentious price that BTC currently sits on.

[Author]

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