Cryptocurrency and it can be trading in binary options trading is not superior for you so keep absen
For example, and as the OP contends, a crypto solution that "just works" for grandma and grandpa could become the killer app. If anything bitcoin currently enjoys the most user-friendly position because of its wide-scale support, and I don't see that changing any time soon.
I too have a deep technical understanding of the subject matter, but I have come to appreciate how history is littered with failed projects that had the potential to be disruptive but whose technically-minded communities became blinded to the pragmatic issues that eventually decided the course of the market.
It's hard to draw hard parallels since the discord within the Bitcoin community is probably its greatest threat.
I do like your comparison however, and note that AOL dominated the space for 25 years until it's eventual decline. Even in crypto-years we're not there yet with Bitcoin. Bitcoin can do Coca-Cola and regain dominance but it is a good idea to hodl new tech proved coins.
The market is carzy right now idk what going to happen next: One thing to keep in mind is that you can't just always "incorporate" a feature from one blockchain to another, since there are incompatibilities that arise from the fact that blockchains have an immutable history. I can go as deep as it get, I just can't read code. I wish I had a list of bookmarks so I could just drop a link or two, but I don't have anything immediately on hand. DAGs which both IOTA and RaiBlocks use jump to a 2 or 3-dimensional model, where instead of a set progression, the ledger itself expands infinitively in all directions.
I agree with most here, but I feel the urge to educate you a little bit. For IOTA the tangle still has to be saved somewhere. The founders say, it should be able to store data on the tangle. So you need access to the whole history. But if there is no mining and no fees, who is going to download and store the whole tangle? If transactions are free, this means: The tangle will grow exponentially with free transactions.
That's a huge conceptional mistake, no one seems to care about. Why would anyone download and save the tangle, if there is no incentive? IOTA has so called perma nodes and even has to use a coordinator node to handle the technical problems, which come with this promises.
Both these solutions are the highest form of centralization. You have to understand that whenever someone tells you about free transactions and super fast and high scaling, the trade offs are most like found in censorship resistance and decentralization.
If you just buy on their promises, you will get burned. You think they are revolutionary, because they use cool buzzwords, but you only know very little about the technology and the related problems. Moreover, Ethereum can reach thousands of transactions per second in small private networks.
This has nothing to do with the real world. Why do people run Steem seed, bitcoin or ethereum nodes? What about seeding torrents? There's no incentive to any of these either, yet people do it. The reason people run these network nodes is because they want a reliable on-ramp that they control to access the blockchain, which is the same reason you'd run a IOTA or RaiBlocks node. Every business or advanced user that utilizes these networks ends up running a node, which decentralizes it to some extent.
I can't defend IOTA's coordinator, as it's one of the biggest problems with their technology as I see it. The only reason I mentioned IOTA a few times is because it uses the same technology principals as RaiBlocks, albeit in a slightly different way. If they don't, it's a huge problem. I hope you're not addressing me directly, because I know plenty about the technology behind these products, both in their advantages and disadvantages.
I do my research and surround myself with others that do the same. I don't buy into marketing hype. Edit - Also I just noticed you're a brand new user, welcome to Steem! Bitcoin and ethereum network is run by miners, which will earn money for handling transactions and downloading the whole blockchain. If you have a Terabyte Tangle, do you think people will download it just for good will? You mentioned seeding torrents is done without incentive. It is one of the biggest problems of torrents.
It is exactly the problem I am describing. Blockchain should be persistent. To reach this goal, people need an incentive to download and store the data. No fees makes no sense here. I read many arguments against it and they are all based on good will. Well, I don't want to take the bet, that some people just want to make this world a better place and will invest millions of dollars, just to keep the network alive, without gaining direct profit from it.
There's a lot of em, that's for sure. I don't believe this is true, though I'd love to see any information that says otherwise. The network itself is actually decentralized via people running full nodes. The miners are just the ones producing the blocks and earning the rewards. Then there's the case of mining pools, which arguably is one of the most prevalent forms of mining in terms of individual users. The miners who use pools don't download the blockchain either, the pool does, and they again probably run only a handful of nodes for the entire pool.
Those full nodes are not even publicly accessible to the larger network to prevent DDOS and hidden behind a stratum. Every home ETH miner you know probably uses a pool and doesn't run a full node, nor do they actually download the entire blockchain. They're taking rewards and not contributing to that P2P distribution.
In the case of Steem one of the blockchains I know the most about , the witnesses here do download the full blockchain on their "mining" servers, but then they completely firewall it off from the world so that it'll never be discoverable by the rest of the network.
The P2P distribution on the Steem blockchain doesn't happen on incentivized nodes either. The ones who probably run the most full nodes on any blockchain network and thus distributing on the P2P network are likely the exchanges and service providers, since they're continually bombarding the APIs with requests to monitor transactions and submit operations at a far greater rate than any miner would. From what I understand - those who are actually rewarded in mining make up an incredibly small portion of the people who actually download the full blockchain and then redistribute it to others across the P2P network.
I think now a days it's called AppBase or something Base in almost all of the variants. Graphene probably isn't the best term to use since they've all modified the core at this point, but it's stuck in my vocabulary: From Spain Madrid, thank you for an honest un vias expert opinion, any other currency with new tech we should know about?
Every coin actually has its own set of fools, even in Bitcoin. There are various kinds of crypto investors however, that's for sure! Interesting points, but i don't think it's fair to compare adoption rates to Steem just yet seeing that most people can't even buy the coin right now. I also don't think that transaction speed is the sole reason why people are invested in it long term, either.
I would, however, agree with you completely that hype around the thing has reached the early "euphoric" stage.. Even when Verge started selling off, it still didn't drop to even half of pre-pump levels.. POWR predictably deflated back down, however, it also didn't take long to gradually rise back up to it's all time high less than a month.
Did either Verge or Power Ledger die? Did investors forget about them quickly to move on to the next popular flavor of the week? Of course not and it won't happen with RaiBlocks even IF it "dumps" as you say. Why do you think this is? The classic pump and dumps of the old penny stock days and now crypto always have the exact same characteristics. Very quiet flat trading chart for months with no development progress, then a sudden and sharp day pop up to get that spark going, followed by an immediate gap down to half of the initial pump, then sometimes a rapid swing in both directions once or twice to bait more newbie fomo buyers, and finally ending with either a fast or slow bleed out as volume dries up ReddCoin is a good recent example.
While RaiBlocks DID rapidly grow in December, it started off very organic and if you take a closer look there wasn't that much selling pressure on the thing even as it started doubling in price before it went into the hype overdrive today. This lack of short term dumpers to me tells me that there are more long term believers in the thing than there are quick flippers.
The chart looks way more like Power Ledger an less like ReddCoin. Remember, time is accelerated in the crypto world. On the tech fundamentals and adoption: One thing I learned from the stock market world is that fundamentals aren't a bullet proof way of determining whether or not market sentiment will drop on a stock or that one company will win over another. RaiBlocks might not be solving an immediate demand right now in the crypto space this is to address your comment about RaiBlocks not doing anything that is in current demand at the moment but people are invested because they believe that the value of what RaiBlocks attempts to solve will be more relevant eventually..
Everything comes down to your time frame on when you are expecting a ROI. People are invested in Tesla and Amazon even though they are still not profitable companies at the moment and are currently trading at high multiples of their forward earnings. It may not seem rational, but this doesn't really matter if enough people believe that they WILL be profitable in the long term.
There is what many will claim should be the "true value" and then their is perceived value. The second matters way more. Remember, VHS won the battle against Betamax. At the end of the day, the old Maynard quote still applies, "The market can remain 'irrational' for longer than you can remain solvent. The idiot OP didn't even understand why this coin was flat for so long. I'm not going to do his homework for him, because I let idiots be idiots, however the price rise correlated in time with an event in the lifecycle of XRB.
I respect Crypto Investor and watch his content a lot even though he's been wrong lately on some predictions. BTC dominance increasing, for example , but his biggest blindspot is that he thinks too much like a trader and not like an investor, which is ironic given the name of his channel.
Specifically, he only thinks in the short-term. You can clearly see this when he claims that RaiBlocks does not solve "the immediate need in the crypto space" at the moment.
Adoption, interface, ease of use, etc. It is commonly known that in the investment world, the BIG money does not chase these short term gains. It goes for the unique and interesting projects, regardless of their immediate applications. I'm talking about the billion dollar investors, not the million dollar ones.
These types of investors ALWAYS try to get in early on something that will give them x, x gains in a few years when demand for what they are invested in becomes more relevant. They look at big picture potential here.
I work in the tech field and have personally met at least 2 billionaires in my lifetime. When you talk to these people about investment and the types of things that they are interested in, they always gravitate towards those types of projects that break new ground. Stuff that nobody else is doing in that space.
My father studied Quantum mechanics in the 60s, had a PhD in the topic and taught at Virginia Tech for a number of years afterwards. At the time, everyone told him that what he was investing his time in was a waste because it did not address an immediate problem, nor did it have any practical implementation at the time. It was purely theoretical. Today, you've got the top tech firms paying millions for the brightest minds in that very field, now that quantum computing is a reality.
This is why people are interested in RaiBlocks, in my opinion. It's laying down a foundation for the future. You are investing in the people behind it. It's obvious that the RaiBlocks team is very passionate and forward-thinking..
Regardless of whether or not this is currently relevant or that it is something in high demand today, this is always where big investment opportunity lays. First of all, though, I didn't mean to nullify your rewards. That was an accident. I didn't realize I packed that much of a punch. But this accident is going to underscore the prelude to my critique. I didn't even know it had this valuation until I looked tonight.
The steem power of my accounts amounts to a clerical error on my part when I powered down "all" my steem last year, in an effort to dump steem and move from this platform. What was left was the steem power in this account and a bunch of others that were too small to trouble with.
So I didn't bother powering all this down and am letting it sit, for no other reason than I have more important things to do. I'm bragging because I am a badass trader and know what I am doing. Now, what does this have to do with the point I will make here? It means that if you want to compare your "cryptovesting" to mine, I will wipe the floor with you. I am a badass. Ask anyone who is in my trading groups. And ask them how long ago I was hyping raiblocks to them, and what price it was. Now, the reason I down voted you to "oblivion" is that your silly post about raiblocks is completely misinformed.
You don't know what you are talking about. First, you have the ignorance to claim that steem is a potential solution to the scaling problem. The only way steem is a solution to anything is to remove the constant sell pressure caused by the reward pool. The pool is poorly conceived, and its flaws have never been addressed, and never will be.
With steem's economic problems, it will never be a solution to the scaling problem or anything else. Second, you claim that scaling isn't even important. It is ALL about scaling. For crypto to be relevant, it has to provide a global payment solution to compete with the centralized services that you claim are superior. They are not superior, by the way. They suck because they revolve around an entrenched system of exploitation.
They stem from inflationary monetary policies that funnel wealth to the already powerful. Every centralized exchange and bank is an agent of a centralized government, and these governments exist to transfer the fruits of economic productivity from the populace to those who control the money supply.
Bitcoin can't scale in its present implementation. Ethereum can't scale either. It can't even keep up with cryptokitties. Third, and worst, your post is cynical bullshit. Any idiot can be cynical and disparage a cryptocurrency platform like raiblocks or any other coin.
The problem I have with this cynicism is that you have absolutely no balls. You are a chicken shit negative ninny, and your argumentative strategy reduces to unfounded name calling "pump and dump". This is why you deserve a huge downvote. And that's what I did, partly by accident. Right now this post is not visible due to your downvote. So you are basically silencing opinions. You disagree with him. I don't want to persuade you.
But his opinion IS valuable to a lot of people, including me. I think it is very important that we have a whole spectrum of opinions on this platform - and minority opinions should be protected.
If we start going around and flagging controversial content, it will disincentivize posting such content. In my opinion you abused the flagging system. Check this post on flagging etiquette https: Increased adoption, let alone mass adoption is grinding things to a halt. There's no use for bitcoin or ether in the retail sector in their current form, scalability and a currencies public reputation is clearly whats preventing any sort of adoption right now.
I'm not here trying to claim I will be buying beer with XRB in a few years from now but this is a step in the right direction to address the issues that prevent most cryptos from being used as an actual payment method. You don't understand money. You think money is the ability to pay your cable bill with a credit card.
You're lack of understanding of money probably means that paying bills will always be a struggle for you. But take it from me that scaling is important. The market, which represents collective wisdom far greater than yours, values it tremendously.
I'd say that once you have wealth, you will understand what the true issues with money are. But I am confident that will never happen. Replies will be delayed longer than usual on this maybe even til I finish point 2 in this list because there was a ton, and I mean a ton, of feedback to this video and description that has made me realize how careful I need to be on delivery.
I would like to craft a more careful response as the reason this video ever went wrong is because it wasn't carefully crafted even though most of what I have written here in the description more accurately reflects what I think. I will likely do a follow-up video because I need to do damage control anyway. I know some of you will tell me I don't owe anyone an apology, and I agree - I won't be giving one. However, I seemed to have split most people right down the middle support me or completely against me.
This is not the aim of my content - I prefer having people who are more in the middle, like jesta's comment here. For those of you invested in Raiblocks, understand that my comments are aimed more generally at the sheeplike behavior we are seeing with it recently more than those of you who genuinely are interested in it over other solutions.
I don't think full-on "currency" cryptos are well positioned in this market so yes, that does include MANY cryptocurrencies other than Raiblocks , but I understand the appeal especially if you invested early and believe in it. Note that my criticisms are based on those two factors the hype and use case. I'm not vested in Raiblocks People need to chill. An opinion doesn't leave bruises.
Just keep doing you. Great job and your opinion is very much appreciated. You're a great speculator and that's what I follow your channel for but there are a couple points that should be elaborated upon. From what I understand that the lightning network is really just a bandaid solution. It requires prepayment of funds that are intended to be spent with a single merchant and it also requires two transactions, one to initiate, and one to finalize and broadcast the transaction. Only the prepaid funds are available for instant transaction with the merchant over the lightning network.
As you say, most of the transactions involving bitcoin is to and from exchanges, the lightning network would be useless for this use case and will not result in much improvement for scalability. There might be other changes to the bitcoin network that will improve scalability but that will probably be at least two years on.
The vast majority is just recording posts and votes from the steemit. Inflation is a good feature for currencies people actually use day-to-day but people in the crypto world tend to hate on coins that keep inflation forever as a feature. You certainly could be right about the pump and dump, it will be bloody if true.
I also agree that adoption is the biggest problem and I doubt any crypto currency in existence now will ever be widely adopted as a global currency. A good currency needs three things, stable value, near instant transactions, and near zero fees, not one crypto can check all these boxes but RaiBlocks does two better than any other for now at least. Your last paragraph nails it. Cryptos cannot be used widely in the real business world if they are not stable.
The crypto space is like the Californian Gold Rush on hyper steroids. Across the crypto board, transaction speed, particularly settlement time, is awful at the moment. Waiting well over a week for money to arrive in your account is also worrying and not acceptable from crypto exchanges. The slow process of evolution will grind out a workable union.
I agree wholeheartedly on the stability issue. Frankly I'm surprised cryptovestor didn't also pick that out as another one of the killer features that is desperately needed in the space. I enjoy your videos. I appreciate the fact that you aren't just pumping coins, you are making up your own mind and do so while trying to be honest. I don't agree with a couple of your points though. The lightning network is not going to be an answer to Bitcoins scaling issues. I got around to looking into it a few days ago and was bitterly disappointed.
Opening up channels of commerce that are only useful over repeated transactions is not worth the hassle imo. And I'm coo-coo over cryptocurrency. I'm one of the guys that goes out of his way to transact via bitcoin. Scalability and adoption are a little bit like the chicken and the egg.
You can't talk about one without the other. I believe that if Bitcoin scaled more gracefully it would be being adopted that much more quickly. Which makes RaiBlocks an interesting alternative. If it doesn't do what it claims it can do, and I clicked on this video expecting you to tell me it doesn't, then it will be worthless. The reason why RaiBlocks was around so long unnoticed was because people assumed Bitcoin would be the answer. The optimism around the lightning network has shaken my confidence though and opened the door for alternatives.
Also I feel you slipped and missed the point when you said if speed and scalability were the only issues then we have PayPal. There's a reason people are interested in conducting transactions with cryptocurrencies instead of a government issued and controlled currency.
I think the basic idea of lightning network is in and out between 2 accounts, but this can be generalized to much more, even if there is no transaction between to btc addresses. This is just a record of some transaction that is then sent to the blockchain. It's like if you sent btc to a A address, that send the same amount to the B address that finally send your btc to the receiver address.
So you just send btc to someone, he receives it instantly thanks to lightning network, and ultimatly the blockchain record it. No idea of what you see about your address on the blockchain, maybe some transaction labeled as lightning. So, yes, it is a scalability solution, this plus bigger blocks, maybe to handle all information about the transaction of a lightning network that have to be recorded will make BTC the more powerful crypto by far.
Just add smart contract and you have a beast that no one can beat If you don't believe in Lightning, you don't believe in Bitcoin. To be clear, neither do I. Bitcoin and litecoin are not stores of value, by definition. They're not digital gold and silver. A store of value must first be used as a widespread currency and build a history of purchasing power stability this is the adoption phase, not random mass purchasing by laymen who heard about it from their cousin's nephew, despite prohibitively high fees destroying any utility the network may provide , or there is no value for it to store.
If you're not on the lightning bandwagon, abandon bitcoin for something with an actual future while it's still priced in 5 figures. Usability to get adoption is a main quest for cryptos. I completely agree the rise of XRB has been insane. However I think you're glazing over the fundamental value of XRB. It is a true decentralised cryptocurrency and it's actually working.
So lets take a look at some of the other cryptos that are ahead of XRB XRP - fast and low fees, centralised IOTA - fast and free transaction, centralised coordinator and not working Bitcoin - slow, high fees and centralised miners Litecoin - centralised miners. I agree it's not going to 1 on CMC, but it deserves a spot in the top XRB is the only one that really matches up to the original vision.
Yes - this has already been addressed. BitGrail was running 1 node to process all the deposits and withdrawls This is another good video cryptovestor , thanks for the details and presentation of the material. I generally agree with you. Let me explain my reasonings:. I don't see RaiBlocks as having the business and structure to support adoption. It's a small crew at this point. The technology is impressive from what I have seen. But that is just the tip of the iceberg for adoption.
Datadash did a RaiBlocks video recently and pointed this out. In 2 other coins that come to mind, Bitshares and Ark. In fact, if you listen to Ark videos, you will find out it was inspired by Bitshares. Most people may not realize that Ark transaction take on the order of 8 seconds to complete The Ark toolchain is very robust and the wallet and smartbriding to Ethereum are quite powerful. The overall utility of coin like Ark not shilling for Ark here, btw is much greater than a coin like RaiBlocks.
When I look at a coin like Ark, or possibly a coin like Cardano I see a multi use case for the coin in addition to be being a fast currency. I am closely watching Ark as they strive to make more industry relationships. Even a coin like Decred which has a governance model and an organization structure supporting it.
There could be an inflection point that allows RaiBlocks to become easily adopting, and I will be investigating alone those lines. However, at this point, I don't quite see it. I would classify my overall thoughts on RaiBlocks as "positive on the tech, negative on the adoption, neutral overall" at this point.
I wouldn't say it's inferior. We are just using new technology based on old technology. The problem with PayPal is that you have to have a bank account, wifi, your information is not encrypted, and you have to pay fees to PayPal.
Crypto will find a way to change all of these things. Centralization also leads to corruption and an oligarchy.
Once crytpo becomes more mainstream, plenty of the centralized businesses will go out of business. I'm relatively new to cryptocurrencies' financial aspect, but one thing I have noticed is that emotions are running extremely high. People are thinking emotionally and not analytically. Your channel has been a great resource for a beginner like me, and breath of fresh air. NO one has use for junk that's clogged and slow. And I'm tired of being f'ing patient about it! What's the point of early adoption when only the early adopters got any practical value.
Sure I love the investment gains, but that was never suppose to be the point and is unsustainable if it IS the point. The question isn't "why Riablocks". Bitcoin and Ethereum have name recognition but can't. As someone who didn't get into this as a get-rich quick scheme, I'm freakin' pissed that the crap no longer works 'cause of all the normies! I want my freakin' crypto back! I like your comment because it's humble and practical and your writing style is easy on the eyes and you're not trying to one up anyone.
Why thank you I agree. Are those the same thing? It WAS awesome and useful and now they're all crap.. What would make people believe they're ever going to really get fixed or going to really be useful again? And if they can't be useful again, then how can you argue it's not all a ponzi scheme? I'm not being sarcastic.
I like cryptocurrency because honestly I like to mine it, it's fun, I like to read the papers on the uses and think about if it is practical or not. I look at the advisors and boards to see who the people are behind the coins and tokens. Right now it satisfies a curiosity and thirst for knowledge and understanding.
My background is in studying history, so things that impact the human condition interest me and I like to think idealistically about the future. I was checking out Overstock the other day and couldn't get shapeshift to work using ETH so I gave up on that.
They need to take out the converting piece on that and just straight up take the currency. Overstock seems interested in holding cryptos so maybe they will do it. Merchants need assurances on a few points: But dollars and banks can do this I guess if they are tired of bank fees and things. But dannnng BTC fees are super ridiculous right now. Yeah, I wasn't sure if you were serious or sarcastic, but since I was generally venting I figured I better cover my bases.
I thought my use of "noobs" might have been a bit over-the-top, but I feel like everyone has gotten into this stuff SO recently they don't have the larger picture. I got into crypto mining early cause "screw the banks" and "we can do it better.
NOW, I'm pretty much losing faith in the tech.. I keep asking myself "what's the point, credit cards have encryption chips now? I believe overstock has it's own crypto in development actually.. I've used gyft for so years, so I hope they come up with something good as well, absolutely wonderful platform. OH, well if you're a history guy, you might consider looking at the impact of "pieces of eight" as an economic unit.. I think both are a much better comparison for the potential of cryptos than tulips.
I think a lot of people have been early adopters like you - me too, for me it was VR. I'm just so over now that no amount of pumping can get me pumped anymore lol I'll check out gyft, and solidus and pieces of eight. Thanks for the inspiration! Super interesting take on this. You obviously are a serious outlier here, but your reasoning, as usual, is sound. With so many cryptos in the market one of the most important things people can do before investing is to read about it and understand if its something they support both morally AND investment-wise.
Many people fail to look at this, as you have highlighted in this video. I too would be interested in your thoughts around Cardano, as it is something that is receiving some good attention as well. Also curious if you think that Pump and Dumps have a place in terms of allowing people the ability to make money. Do you think it's too dangerous, poor morale or causes too much FUD in the entire crypto market?
Something you typically look to partake in or stay away from? This meteoric rise shows the state of crypto today Zero fundamentals, zero research, just people hopping on the coin that's pumping.
It seems that every month there is a new "revolutionary" coin that will change the world and take over. It doesn't matter that most projects have yet to prove their real value, people are eager to throw money as if there's no tomorrow. People don't realize how big it is to be the first in a certain space just as BTC was. Also people forget that every week that goes by there's going to be more and more coins contending for the top 20 list. The only positive I see in this crazy market is that eventually, only the real gems will stay on the top 10 list.
Eventually, things will taper down and we will see some stability. It doesn't make any sense at all to have a different top 20 list every freaking day. What is exciting about RaiBlocks is not that it is fast and scalable, but mostly that the transaction fees are zero. Zero fees is not the same as low fees, especially when it comes to microtransactions or adoption in countries with weak currencies and incompetent governments.
There needs to be adoption beyond that though. This would be the coin I could see people rallying behind, if the tech works and it can mature. I think the dump will not be from the hype train dying off, but if or when vulnerabilities of this unproven tech are taken advantage of.
I think the hype for Vertcoin was genuine at the time unlike that of current moronic Verge shills. Raiblocks also feels fair and the community support behind it also feels genuine. I hope it succeeds. Back in , I could send a Bitcoin transaction with a fee of 0. That was a low fee. That's also only accounting for that fee in USD my local currency , not to mention when you add another dimension of additional non-USD currencies and their relative values, it gets way more complicated and sometimes expensive.
I'm not sure the comparison is apt, although I see where you're coming from. As much as I like the project, it seems pretty clear that ADA is quite overvalued right now. But it's not pumping like crazy like XRB is Also, the two coins are fundamentally different. XRB sells itself purely as a currency, while ADA doesn't even have the stated goal of being a currency. Cardano's entire purpose is to see what creating a blockchain using the scientific method looks like. It tries to identify and correct the technical issues faced by previous blockchains.
It's really not trying to be a currency - Charles H has even stated in interview that one of the cool things he'd like to see come out of the project is a developer creating a volatility shielded currency on top of Cardano.
So to me, the long-term aspects of both coins are really not comparable. I ADA is currently overvalued a bit but as a pick I'm quite confident it's solid. Can't say I feel the same about XRB. If I had any I'd be selling them all pretty soon. That's an interesting question but I don't think Cardano and Raiblocks are comparable. Cardano is a platform that others can build on, which would give it a gateway for adoption and would increase its value. Also, a lot of people like Cardano because of its academic philosophy.
This legitimizes Cardano which can lead to more adoption. I can see an actual company finding merit in Cardano to the point of using their platform and investing in it. Just my opinion though! You mention that Raiblocks is only listed on one exchange Bitgrail. You also claim that it has no chance of long term survival due to lack of adoption.
Well both these issues go hand in hand. There are TWO exchanges that are about to list Raiblocks: It's way too early to write off this coin. Is raiblocks a deflationary monetary system? I think Raiblocks qualifies as deflationary - no new tokens will be created and the m that exist now are the limit. So from here on out, as wallets are lost and coins are burned, there will only ever be less and less.
Looks like your steemit blew up fast, didn't check for a couple days and your getting mega bucks, well done. In terms of profitability you have many less steemit followers but is it now more profitable than youtube?
You got a 5. I personally thought it was severely undervalued as a cryptocurrency and most of that undervaluation was because there wasn't good enough marketing.
Do you personally think IOTA is overvalued? How do you think IOTA will end up if you think another payment cryptocurrency isn't needed? I did not research RaiBlocks enough so I will make no comment on it. However I do disagree on the point that Lightning Network will solve everything.
I would really like to see a video from you that goes in-depth into how Lightning works and what the pros and cons of it are. Since you are one of the more rational and IMO smarter YouTubers out there, I think you will recognize the problem soon enough.
FYI there are other people on Steemit with a similar name to yours that might be getting your viewers from YouTube instead. I suspect the only people disagreeing with this argument are those on the Raiblock band wagon. Fyi love your content you are my most frustrating but appreciated content creator. Frustrating because you often undermine my opinions but appreciated because usually I need that alternative perspective you are offering.
Honestly, you have changed my investment mentality as radically as cryptocurrencies have changed my life. I have been reading the book cryptoassets that you have recommended and it has been an amazing read so far. The way you are able to Calmly asses the situation in the market is truly remarkable, and I hope to learn it one day. Keep up the good content, you are my biggest inspiration as to what I want to achieve as an investor.
Hope you won't get too many raiblocks fan boys hating you for telling them the hard truth. I agree with you on the state of adoption of cryptocurrencies. There are already solutions out there that do many of the things that crypto does but is centralized, especially in the developed word.
I think it has massive potential in developing countries but trying to get the average person in America interested outside of price action is hard to do. I love blockchains and the potential they have. Another amazing video, hats off. I have recommended your youtube channel to a few good friends now, exceptional content.
Could you say something about your background in investing, if I may ask of course. I'm afraid the vast majority of cryptos will end up being pumps and dumps This is exactly the type of constructive criticism I like from your YT as well. Not just bashing a coin because of XYZ excuse but giving a detailed opinion on why you think what you do and articulating it in a way that everyone can relate to. Interesting video, I like your realist view of some of the crypto space as it helps me get outside of the crypto echo chamber.
Finally someone who brings up Steem and BitShares on these speed comparisons, for some reason they seem to always be left out of the comparisons! I think you are severely underestimating the fact that it has NO fees. Sure, there are other coins that you can move around with relative speed, but the lack of value lost for a decentralised currency is absolutely remarkable.
It's a beautiful thing to ping back and forth tiny amounts of XRB and see the full amount getting there in no time, and I've seen many people invest on the coin upon trying that. But I think fee becomes an issue when used under the "Crypto as a currency for paying for goods and services" use case. Most people are using it as "Crypto as a speculative investment" and all we do is buy and keep it in exchanges and move around exchanges. In most cases all cryptos except bitcoin currently the fee is very low and we are willing to pay for it atleast I am.
In my humble opinion, without mainstream adoption the value add generated from low fee is not significant. No fees is precisely one of the major downfalls of Raiblocks. It sounds good as a selling point, however in practice no fees also means wide open for endless attacks. With no monetary penalty for sending massive amounts of transactions, this thing is a toy. There's no monetary penalty for sending massive amounts of transactions in XRB, but there is a monetary penalty in having to do massive amounts of PoW to submit all of those transactions which uses electricity, which costs money.
Sorry as this is unrelated to this particular video but do you think you can please do a video on the lightning network for Bitcoin. I know how it works but I would really like to hear your opinion on what the impact will be. Keep up the great work and Happy New Year. I support this suggestion! I hear lots of talk of how lightning network is all about a conspiracy to centralize Bitcoin and for central banking to grasp control over crypto and further enslave people who are only in this to free themselves, divorce themselves from the banking system.
Cryptovestor has a unique voice of opinion to speak on this topic. Honestly, you really do not give any sound technical reasons as to why XRB will fail. Your main point is that it will not get adoption, but that is a problem for all cryptos right now. The argument that you are making here could be applied to almost any coin that is currently rising through the ranks.
In your video, rather than critiquing the technology in a direct and logical fashion, you completely dismiss it saying "I don't care if it is perfect tech, it can never get adoption. The tech is everything at this stage. It is the hardest part to get right. And this is coming from a real world, full time software engineer who lives and breathes it every day. The real value is in the core tech behind the block lattice.
That is the hardest part to theorize and implement. Both of these types of attacks are addressed in the white paper and are real threats to the integrity of this currency.
But, instead of talking about anything concrete or technical that is unique and specific to the Raiblocks project, you simply spew a bunch of nonsense about adoption which is something that the entire sector is currently struggling with. It is a shame that someone with your level of influence could not put together something with more substance. To clarify, no one can mine it, it has not been "privatized". This video has caused me to reconsider my fundamental reasons for investing in RaiBlocks.
Your unique insights are highly appreciated. Thanks for the video Even the issue of "memorizing" a large 32 character of strings for public key is resolved in Bitshares or steem and that is you just use the account name to send payments Also what are your thoughts on populous? I've been looking into this token for sometimes and it seems like a very useful coin for the economy The "herd mentality" is strong in the crypto world. I just started paying attention to crypto in the last 30 days like many, many others and was blown away by witnessing what happened with Verge.
Never in my life had I seen so much hype and buzz. I jumped in and rode the waves in order to reduce my exposure so now I have a small, low-cost holding in case it ever turns into something worth having. If Raiblocks is volatile this coming weekend, I'm going to try the same thing with that coin but never would I take a long-term hold position.
See my analysis on the Raiblocks rebranding: Which coin in your opinion has identified User Interface UI as an issue and is taking steps towards mainstream adaption? I can think of Dash Evolution pay creating an API which helps users setup wallet using username and password just as you do for any website. A marketplace is attached to it so we can buy things off the market. I am not sure how far the team has reached.
Will this increase acceptance? Copied this from Youtube Wow this comment section is embarrassing. As an XRB investor myself, I asked myself the same questions on whether or nor this coin had a future. And after watching this video I see he touched on the exact concerns I had with this coin. Also mentions scale as not important before pointing out the biggest issue with bitcoin is scale which is hindering adoption The biggest issues in crypto this year have revolved around scale.
Every single big event in crypto tech this boiled down to scale and no they can't be "solved" through the natural progression of tech. Do the calculations, calculate the size of BTC and Ether's chain and their growth rate and tell me that's viable for decentralization. Vitalik didn't just put out contracts to scale Ether if he thought it was so simple.
No one has the answer to scale yet which is why Rai has been so impressive. All the other cases of adoption in shops and businesses will follow because it will be more convenient to add it in also price will be less volatile. I had a crypto kitty born today. The country also limited bitcoin mining, which can be a very energy-intensive process. Now, according to a recent Bloomberg report, Chinese authorities have plans to block domestic access to centralized trading platforms, as well as offshore cryptocurrency trading platforms.
In short, China is aware that virtual currency trading still exists despite its best efforts to curb it domestically, and it now plans to step up enforcement by purposefully blocking access to certain sites and platforms. Bloomberg also suggests that Chinese regulators plan to target individuals and companies that provide market-making and clearing services for centralized trading.
One of the primary reasons cryptocurrencies have done so well is because the crypto market isn't "fair. For the average investor on a decentralized exchange, your only real options are to buy, sell, or hang on to your investment. Unlike traditional equity markets, there isn't access to short-selling opportunities or options allowing a pessimist to place their bet against a cryptocurrency.
This tends to push crypto prices higher since few people are making money if prices are falling. Nevertheless, profit-taking can wreak havoc on digital currencies from time to time. As such, investors may choose to place stop-loss orders on their investments, signaling that they're only willing to lose a certain percentage. The problem is, these stop-loss orders can create a short-term cascade to the downside if too many of them start getting hit.
If there is good news, stop-loss-induced cryptocurrency plunges tend to be very short-lived. Again, the market creates incentive to buy. Once the stop-loss cascade ceases, which usually happens within 24 hours, buyers return and usually push valuations higher. Lastly, keep in mind that retail investors, not institutional investors, are doing most of the cryptocurrency trading. With the exception of bitcoin, which can be traded through futures contracts, and perhaps soon by exchange-traded funds, the only way to purchase and sell cryptocurrencies is through a cryptocurrency exchange.
Traditional institutions haven't been willing to purchase virtual coins through these channels, leaving retail investors in charge. The issue with this is simple: Retail investors are far likelier than institutional investors to wear their emotions on their sleeve.
In essence, it means they're liable to overshoot to the upside when things are good, and to the downside when things aren't looking as good. The accelerated selling over the past three days might just have chased panicked cryptocurrency investors to the exit, which only worsened the selling pressure.
Until institutional investors get involved, or access to crypto markets expands to more traditional channels, this type of volatility could prove quite common.
Bitcoin breaks under weight of regulatory scrutiny.