Daily Crypto Nooooooz

[indiamikezulu]

'Will crypto economics be the only thing left as the global economies collapse under massive debts hidden from sight behind the media's fake news?'

https://cointelegraph.com/news/crypto-capital-markets-to-save-mankind-from-new-global-financial-storm

This has been our position for years. And it's one reason we like to trade cryptos for bullion.


https://www.theguardian.com/money/2017/feb/10/are-car-loans-driving-us-towards-the-next-financial-crash

Gotta give credit to the Crazy-Pants-Journalism sector, guys like Zero Hedge. They point you in the right direction every time.

[indiamikezulu]

'But as technical barriers to entry are removed, we are on the precipice of millions of user-generated currencies, of all shapes and sizes.'

http://www.coindesk.com/user-generated-currency-bitcoin-youtube-money/

This morning, readers, a snippet of theory explaining why I'm confident we won't end up with 'millions of user-generated currencies.'

Revolutionary theory – and a revolution is exactly what us crypto geeks are involved in – never goes 'half way.' It always claims the need to go to The Exact Opposite of The Bad System That We're Overthrowing. Communism is the obvious example, and the radical lesbian separatists of the second-wave feminism also come to mind.

So, back to money. The present system sucks because (folks think/thought) that 'it's natural' that only the Government can issue money. So, T.E.O.o.T.B.S.T.W.O must (logically) be that (almost) EVERYONE will have their own currency.

But how would price-discovery work? My kid sister's piano teacher wants to be paid in GRS . . . but for the jar of pickles he's selling my mum, he wants to be paid in His Brother Fred's crypto.

Suppose there are a hundred families in a village. There's a local vegie-delivery service: three guys who take turns doing the deliveries. The number of combinations of who would accept which currencies is simply insane. There aren't enough hours in a day.

Conclusion: hobbyists and some crypto-trading specialists will choose to work with a wider range of cryptos; but over time, a solid core of established cryptos with talented devs will become the mainstays of global commerce.

[indiamikezulu]

'Indian government officials thought they had things in order but they messed up spectacularly.'

http://www.newsbtc.com/2017/04/17/indias-bank-atms-running-cash-new-banknote-software-upgrades-still-not-completed/

Unbelievable!! It's now over five months since the Indian Government threw this spanner into its own works.


Note: I googled 'indian atms,' and one of the three articles that came up was CoinTelegraph's! Woo hoo! We're mainstream!

[indiamikezulu]

I'll call this little project finished (and I learned a lot):


https://bitcointalk.org/index.php?topic=1777136.80

[indiamikezulu]

EDIT: This is about the future of the EU/Euro, and therefore crypto adoption (in Europe):

'40% of Spanish children live in poverty'

http://www.euractiv.com/section/economy-jobs/news/40-of-spanish-children-live-in-poverty/


And: 'The ratings agency Fitch on Friday downgraded Italy's long-term debt rating a notch to BBB, one level above the "speculative" grade, citing the country's persistent debt and fiscal problems.'

http://www.businesstimes.com.sg/government-economy/fitch-downgrades-italian-debt-rating-stable-outlook


I have been so very wrong about how long it would take for the debt bomb to explode: who could have guessed that governments would resort to negative interest rates on a mass scale?

'Unthinkable before the 2008 financial crisis' https://www.bloomberg.com/quicktake/negative-interest-rates

The point, though, is that it can't go on forever. Full stop. It's now years since any government or media talked about paying back debt.

'S&P expects that the United States and Japan will be the "most prolific borrowers" in 2017, accounting for 60% of total borrowing, followed by China, Italy and France.' http://www.fin24.com/Economy/world-debt-to-increase-to-44trn-sp-20170227


Ooooh! The U.S. (debt drama due in days). Japan (who policies to control their economy/debt have been failing for 20 years). China (The Global HQ of 'shadow banking' -- debt of the very lowest quality). Italy (whose banks are rubbish). And France (where the anti-EU movement is now strong on both the political left and right)

[indiamikezulu]

'Vranova also notes that the problem of most altcoins is that their developers do not maintain the infrastructure needed to actually use their coin.'

https://cointelegraph.com/news/more-questions-for-poloniex-as-reasons-for-delisting-altcoins-come-to-light

There is an historic shift underway as 'outside' capital flows into the crypto realm. Many cryptos I've devved with talk talk talk about development; but after a while it becomes apparent that pump-'n-dumps are the real goal. Those cryptos are now headed for The Great Big Crypto Recycling Bin in The Sky. And good riddance.

'Currency function' -- merchants/OTC/P2P -- is the real future (and there's more money to be made here, in the long run, than in pump and dump).

[jackielove4u]

'Vranova also notes that the problem of most altcoins is that their developers do not maintain the infrastructure needed to actually use their coin.'

https://cointelegraph.com/news/more-questions-for-poloniex-as-reasons-for-delisting-altcoins-come-to-light

There is an historic shift underway as 'outside' capital flows into the crypto realm. Many cryptos I've devved with talk talk talk about development; but after a while it becomes apparent that pump-'n-dumps are the real goal. Those cryptos are now headed for The Great Big Crypto Recycling Bin in The Sky. And good riddance.

'Currency function' -- merchants/OTC/P2P -- is the real future (and there's more money to be made here, in the long run, than in pump and dump).

Vranova is right about that. Most coins do not maintain it. Let vranova have a look at groestlcoin. We maintained everything the last 3 years.

P.s. whats going on with bitfinex? Another mt gox coming? I hope not

Verstuurd vanaf mijn SM-G935F met Tapatalk

[indiamikezulu]

'Vranova also notes that the problem of most altcoins is that their developers do not maintain the infrastructure needed to actually use their coin.'

https://cointelegraph.com/news/more-questions-for-poloniex-as-reasons-for-delisting-altcoins-come-to-light

There is an historic shift underway as 'outside' capital flows into the crypto realm. Many cryptos I've devved with talk talk talk about development; but after a while it becomes apparent that pump-'n-dumps are the real goal. Those cryptos are now headed for The Great Big Crypto Recycling Bin in The Sky. And good riddance.

'Currency function' -- merchants/OTC/P2P -- is the real future (and there's more money to be made here, in the long run, than in pump and dump).

Vranova is right about that. Most coins do not maintain it. Let vranova have a look at groestlcoin. We maintained everything the last 3 years.

P.s. whats going on with bitfinex? Another mt gox coming? I hope not

Verstuurd vanaf mijn SM-G935F met Tapatalk

Bitfinex = Gox?

Wa ha ha! Over on the D L Ex, B.N. said, 'Bitfinex ... such Mt.Gox.' And I agreed.

[indiamikezulu]

http://www.abc.net.au/news/2017-04-24/macron-le-pen-through-to-runoff-in-french-election/8465782

I'd be grateful for all insights into what the French elections will mean for the Eurozone and therefore cryptos.


And: https://news.bitcoin.com/malta-approves-national-strategy-draft-embrace-bitcoin/

[MarcelP]

http://www.abc.net.au/news/2017-04-24/macron-le-pen-through-to-runoff-in-french-election/8465782

I'd be grateful for all insights into what the French elections will mean for the Eurozone and therefore cryptos.

And: https://news.bitcoin.com/malta-approves-national-strategy-draft-embrace-bitcoin/

Good question. I don't think it will be good though.

[indiamikezulu]

Good morning, campers. Good morning, MarcelP.

It's not my intention to just be unceasingly negative; it's the conclusion of decades of patient analysis:

'The Alibaba founder warned that people should prepare for decades of social upheaval and pain as the internet disrupts the global economy . . . . he had tried to warn people in the early days of e-commerce it would disrupt traditional retailers but few listened . . . . Fifteen years ago I gave speeches 200 or 300 times reminding everyone the internet will impact all industries, but people didn't listen because I was nobody.'

Let's play a little game:

'Fifteen years ago I gave speeches 200 or 300 times reminding everyone [that] the internet cryptographic currencies will impact all industries become the safe havens as fiat currencies fail, but people didn't listen because I was nobody everyone was busy watching Netflix on the couch.'

http://www.zerohedge.com/news/2017-04-24/alibabas-jack-ma-sees-decades-pain-ahead-thanks-internet-disruption

[indiamikezulu]

'I've always admired the way the Chinese government has been handling innovation comparing to how other governments have been doing this.'

https://cointelegraph.com/news/charlie-shrem-hold-at-least-10-bitcoins-can-buy-house-in-30-years

Hmmm . . . . says a lot, doesn't it!

And: interesting stuff on Coindesk this morning:

http://www.coindesk.com/litecoin-prices-3-year-high-tech-upgrade/

http://www.coindesk.com/purse-launches-extension-block-testnet-bitpay-help-evaluate/

http://www.coindesk.com/lets-try-this-again-uasf-developer-puts-forth-new-proposal/

[jackielove4u]

http://www.antbleed.com/

[indiamikezulu]

'And, oddly enough, some see [Litecoin's implementation of seg wit] as a way to move forward bitcoin's scaling debate, even if it's unclear exactly how that might happen.'

http://www.coindesk.com/litecoins-segwit-activation-why-it-matters-and-whats-next/

Litecoin may implement today.

[indiamikezulu]

Meanwhile, in India:

https://cointelegraph.com/news/hacked-indian-bank-moves-against-bitcoin-in-court

So . . . Some Guy didn't tie up his dog properly. Dog got out; a truck ran it over, so Some Guy gonna go down to the truck factory, and punch the owner on the nose?