Cryptocurrency Mania Goes Beyond Bitcoin

cawacko

cawacko

Well-known member
I was following Bitcoin's jump last week. Anyone here invest in any digital currencies?



Cryptocurrency Mania Goes Beyond Bitcoin


Think bitcoin’s surge of more than 30 percent in the last week is impressive? Check out what some of its cousins are up to.

The market capitalization of digital currencies has soared over 50 percent to more than $90 billion in the past seven days as the frenzy around cryptocurrencies reaches a fever pitch. Demand is swelling as more companies embrace the technology backing the method of exchange and some investors see it as a haven from political uncertainty across the globe.

Numerous alternative cryptocurrencies, or "altcoins," have emerged since bitcoin broke into public consciousness in 2013. Companies can sell new tokens through initial coin offerings, or ICOs. Ether, a digital currency linked to the Ethereum blockchain, has more than doubled its worth in the last week and is currently the second most valuable cryptocurrency, behind bitcoin. The value of zcash, the cryptocurrency that announced a partnership with JPMorgan Chase & Co. on Monday, has grown by nearly 200 percent.

Read more on industry perspective about the surge in bitcoin

Bitcoin’s slice of the pie has shrunk recently as its peers have gained share. It now dominates about 45 percent of the overall digital currency market, down from around 85 percent in February, according to data from CoinMarketCap.com. Meanwhile, Ethereum’s share has increased to more than 20 percent from 7 percent in February.


https://www.bloomberg.com/news/arti...ia-goes-beyond-bitcoin-as-altcoins-lead-gains
 
I had never heard of bitcoin until the current wave of online hostage taking. Sounds like a certain bullshit currency that only the weak-minded would accept!

 
cawacko said:
bankers are just trying to F themselves?
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Uramoron. Bankers love fiat money and bitcoin is another form of it. It's being billed as a currency that's not gold and also not fiat but it is fiat. There are rules limiting the amount of bitcoins that can exist but those rules can be changed at any time. Bitcoin is fiat. THINK
 
Text Drivers are Killers said:
Uramoron. Bankers love fiat money and bitcoin is another form of it. It's being billed as a currency that's not gold and also not fiat but it is fiat. There are rules limiting the amount of bitcoins that can exist but those rules can be changed at any time. Bitcoin is fiat. THINK
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No dude, it's not fiat currency. I have no idea what conspiracy site you read is claiming that.
 
cawacko said:
I was following Bitcoin's jump last week. Anyone here invest in any digital currencies?
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No, but my son started mining when he was a freshman in college. He and some buddies invested a couple hundred dollars each and built a computer dedicated to mining. I think he said that they had 7 graphics cards in it- the cheapest form of CPU capacity- to churn the algorithm. They had it set up in a dorm room (free electricity) and two years later when they moved off campus they upgraded it then installed it in one of the engineering labs (again, free electricity). After graduation they shut the thing down- the electricity cost is more than the coins are worth.

He received something like 7 bitcoin from that and has since traded stuff and acquired a total of 14.

As of last week he's made $29k in 6 years.
 
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