BTC is funny, it is revolutionary, but it does not really have anything to offer over insured money in a real bank. Bitcoin, if it ever wants to have the every-man invest in this "currency" it needs to offer some sort of insurance, which usually requires identity. Digital cash that is anonymous can not offer this, so it is inherently flawed. To use it, quite simply puts yourself at risk.
So really the banks are correct in their assesment, the real value quite obviously is indeed in the blockchain technology.
I would imagine there is little stopping someone from forming an insurance company in the BTC space: pay them BTCn a month, and they will ensure you for losses due to fraud for up to BTCx. I believe in previous scandals, some talk was made of doing precisely this (basically constructing an FDIC-equivalent BTC holding structure). There's nothing really stopping someone from setting up an insurance backstop in a non-fiat currency; it's just harder to do than having a government declare "If the whole system tanks, we will magic up a trillion goon-dollars to cover everyone's losses."
Of course, that replaces the issue of technological fraud with insurance fraud (and the technological risk of compromise to the insurance holder itself, though "put all your eggs in one basket and make sure it's the BEST basket" is an old and trusted software engineering paradigm). It actually feels like a way big, stodgy institutions could get into the BTC space if they chose to.
He doesn't understand Chinese. When you said "ugly number" this is very important to the Chinse. They will push the price based on what number they are attached to.
If the price is 314.44 they will push it to 316.88 because that is the number they like, and if they dictate that price it is like they have created their own luck. At least this is my philosophy dealing with Chinese and watching their buy patterns.
You seem frustrated monetarily, yet seem to enjoy your profession.
Honestly, find a new niche for your services and keep working hard and doing your best in your current field. As long as you are following your dream/passion the end always justifies the means.
Dogecoin is about 10 days old. The currency is based on the popular doge meme and will have max 100 billion units. It uses scrypt and has a random block reward.
Dogecoin has a surprising momentum to it. I'm curious what role it will play once the initial novelty wears off. There are many more Doge than Bitcoin or Litecoin, so a single Doge will never be unattainable. It has a long way to go to even reach parity with the penny.
The amount of currency doesn't really matter. We can always trade in kilodoges or something.
It's interesting though, how it's pretty much an exact clone of bitcoin yet has such a different value. The value doesn't come from the thing itself, it's how many people are using it.
Dogecoins do have some minor value though as there is a subreddit of people willing to perform petty tasks in exchange for them.
I'm still shocked how a dumb meme-based altcoin gained so much popularity, where all other just as boring and generic Bitcoin forks died down or are completely insignificant.
To their credit though, they based it off of Litecoin... making it a fork of a fork.
Either I have no sense of humor, or we aren't going to be seeing October 1993 any time soon. Can't wait for "Latvian Potato Coin" to appear in the future.
Obviously they spread. I guess my use of "meme" was a bit too broad, I meant image macro, specifically. They used to be humorous, but they're now so overdone and generic that they simply hurt to look at. It's like a fast food five second dose of "comedy", which I guess is fitting for our present fast food society.
Now that I think about it, that statement was asinine. I'm quite familiar with 4chan, Something Awful and Reddit. Never underestimate the stupidity of a general community. But sometimes, I just wish people would take the time to watch a 64k demo instead of a YouTube celebrity video.
Reddit has a way of tipping people with bitcoins for posts
/u/bitcoinbot 0.015BTC verify
people saw these public tips, kind of an alternative to reddit gold, so it entered the consciousness of the community. dogechain was born because, more or less, it was pretty funny to drop this on someone:
If I wanted these kinds of comments I'd go to reddit.. Keep memes off this site please, it's one of the last public forums on the internet without them.
Shows how little this site knows about how normal users perceive currency.
Keep your butts, keep your LTC, and your peer cons. You guys missed the moonboat and now real users are going to dictate the future of currency.
Doge coin has arrived to crash the alt coin market and rise above to save the people from all the greed and scum that has overtaken the bitcoin inindustry. Yes I'm looking at you hacker news. Why do you all just care about money so much?
So really the banks are correct in their assesment, the real value quite obviously is indeed in the blockchain technology.