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    Originally posted by RiverRat1 View Post
    Looks like BTC has finally hit bottom. IMO it's going to take some sort of bad news to tank it back below 3,800 otherwise it should slowly keep rising until FOMO starts setting back in.

    I bought GBTC a couple weeks ago. It's a trust fund that only owns BTC It has fees associated with it but trades like a stock so it's simple to buy/sell.

    May buy more today.
    What makes you say it's hit bottom? Not saying you're wrong by any means, just curious what factors you're considering here.

    Comment


      Originally posted by RiverRat1 View Post
      Bitcoin is the base crypto currency. Some people believe Crypto's will be used for transactions that will take the place of banks, paper money, title companies, and everything like credit cards. So a real estate transaction for example could take seconds instead of weeks, be safer, and save thousands.

      Trillions are spent each year on transactions and money moving. It's really a crazy amount when you step back and look. Almost everything now from little CC purchases, pay-pal, phone bill, anything you pay online has these fees. Stock market alone could be reinvented with blockchain to save hundreds of billions if not trillions in fees.

      And yes you can buy plenty of things right now with bitcoin.

      It will be really hard to get going though because EVERY world government politician gets rich off of their own FED printing money (in a round about way) Can't print more BTC.

      It's basically a fairy tale world that stops inflation and makes things fair. So it will never happen but sounds great. If it does happen it would be regulated to death so the government can still make tons of money. Otherwise they go broke.


      How did I do?

      Tim, if cryptocurrency is simply another form of payment/money transfer, how can real estate transactions be reduced to seconds instead of weeks, and how does a form of currency take the place of title companies??? It does not take weeks for money to be transferred in a real estate transaction now; it can be done overnight, and how does it replace title searches and policies??? That makes no sense.

      Comment


        Originally posted by Burnadell View Post
        Tim, if cryptocurrency is simply another form of payment/money transfer, how can real estate transactions be reduced to seconds instead of weeks, and how does a form of currency take the place of title companies??? It does not take weeks for money to be transferred in a real estate transaction now; it can be done overnight, and how does it replace title searches and policies??? That makes no sense.
        he meant blockchain and smart contracts. tokens not coins.

        Comment


          My biggest concern with the crypto world, and I never dabbled, was that the world powers that be would never allow themselves to be cut out of the money loop. They’ll find a way to regulate it or even ruin it altogether.[/QUOTE]

          I covered that Pretty much every single high power rich person got their money by screwing taxpayers by printing money. No way they just stop it.


          ETH is up 65% in the last couple weeks What's going on?[/QUOTE]

          This was always my concern as well

          Comment


            Originally posted by wes122984 View Post
            he meant blockchain and smart contracts. tokens not coins.
            Please explain how blockchain and smart contracts eliminate the need for title companies and how they can speed real estate transactions from weeks to seconds.

            Comment


              Originally posted by Burnadell View Post
              Please explain how blockchain and smart contracts eliminate the need for title companies and how they can speed real estate transactions from weeks to seconds.
              I wouldn’t say eliminate title companies. Not right away anyways. Blockchain is all about data processing and verification. Many things will move to blockchain tech in very near future. Loans are already being issued and underwritten on it. Do some reading on it and can see all the things smart contracts can replace.

              Comment


                Originally posted by wes122984 View Post
                I wouldn’t say eliminate title companies. Not right away anyways. Blockchain is all about data processing and verification. Many things will move to blockchain tech in very near future. Loans are already being issued and underwritten on it. Do some reading on it and can see all the things smart contracts can replace.
                Thanks. My point was that the title search still has to be run for real estate sales as well as surveys, etc. That takes time irrespective of the transfer of funds to pay for it.

                Comment


                  Originally posted by Burnadell View Post
                  Thanks. My point was that the title search still has to be run for real estate sales as well as surveys, etc. That takes time irrespective of the transfer of funds to pay for it.
                  Yes. Blockchain is not about the transfer of funds. Go to ethereums website and read up. It is very possible to put title work on the blockchain. It’s a ledger of data that can be nearly instantly verified.

                  Comment


                    Originally posted by wes122984 View Post
                    Yes. Blockchain is not about the transfer of funds. Go to ethereums website and read up. It is very possible to put title work on the blockchain. It’s a ledger of data that can be nearly instantly verified.
                    Okay, gotcha! I found the definition of ethereums.

                    "In sum, Ethereum is an advancement based on the principle of blockchain that supports bitcoin but with a purpose that does not compete with Bitcoin. ... Currently, the market cap of Ether (ETH) is more than Ripple and Litecoin, although it's far behind Bitcoin (BTC)."

                    Now I understand it perfectly and understand how that could replace title companies! Thanks!

                    Comment


                      Originally posted by Burnadell View Post
                      Okay, gotcha! I found the definition of ethereums.

                      "In sum, Ethereum is an advancement based on the principle of blockchain that supports bitcoin but with a purpose that does not compete with Bitcoin. ... Currently, the market cap of Ether (ETH) is more than Ripple and Litecoin, although it's far behind Bitcoin (BTC)."

                      Now I understand it perfectly and understand how that could replace title companies! Thanks!
                      It would require the right technical knowledge for you to understand how it could replace title companies. The right website would be start. https://ethereum.org/

                      There are also many youtube videos that can help illustrate how smart contracts work and their possible uses. Ethereum is just one example.

                      Maybe this will help.
                      "Smart contract is just a phrase used to describe a computer code that can facilitate the exchange of money, content, property, shares, or anything of value. When running on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. Because smart contracts run on the blockchain, they run exactly as programmed without any possibility of censorship, downtime, fraud or third-party interference."

                      Or this :
                      Last edited by wes122984; 04-01-2019, 05:58 AM.

                      Comment


                        Thanks for that info and link. I learned something from the Forbes article for sure, but the last paragraph confirmed my thinking:

                        "Title companies are not like many other intermediaries that very well may face extinction. A title attorney or closer is needed in many different scenarios to complete the transaction. Our roles will change. The industry as a whole will be creative in its adaptation of the utilization of the blockchain, amending our services based on the clientele’s future needs. It is true that the fundamental trust in record keeping may be garnered by the blockchain, but today’s title insurance company is not going anywhere. We will remain necessary and serve in many different capacities. Blockchain will bring great efficiencies, cost reductions and simplicities to our industry, but it will only supplement the hands-on expertise of a title insurance company."

                        Comment


                          Originally posted by RiverRat1 View Post
                          Looks like BTC has finally hit bottom. IMO it's going to take some sort of bad news to tank it back below 3,800 otherwise it should slowly keep rising until FOMO starts setting back in.

                          I bought GBTC a couple weeks ago. It's a trust fund that only owns BTC It has fees associated with it but trades like a stock so it's simple to buy/sell.

                          May buy more today.
                          Originally posted by Etxbuckman View Post
                          What makes you say it's hit bottom? Not saying you're wrong by any means, just curious what factors you're considering here.
                          Just looking at the chart. And consistent heavier than average buy volume over the last 2 months. And it's dips were less and less.

                          Was up big today..over 4,800 for a while.

                          Comment


                            XRiPeace

                            oh well...maybe someday my grandkids can cash it all in

                            Comment


                              I am up almost 200% this year on Litecoin alone. Bought back in in January, at $32/coin, yesterday it hit $99 before settling back in the mid 80's.

                              Now I wish I would have started with more.

                              Comment


                                Originally posted by WItoTX View Post
                                I am up almost 200% this year on Litecoin alone. Bought back in in January, at $32/coin, yesterday it hit $99 before settling back in the mid 80's.

                                Now I wish I would have started with more.
                                LTC is killing it right now.

                                Comment

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