zainmaxwell:
but there is no wallet for ripple

That's not true. I have hundreds of Ripple on Poloniex.

zainmaxwell:
do they have any app for that

Visit any of the sites above. I want to believe you are familiar with buying BTC.

JustCryptos:


Understand the features of money and you'll understand how Bitcoin gets its value. Money is a medium of exchange, the intrinsic value comes from the cost spent in printing it. Same with trade by barter, the cost of cultivating.

Bitcoin is mined by solving complex algorithms. That's were the value is.

TBC - the billion coin is a scam coin. Do not buy it. I repeat, do not buy it.

I beg to differ. If the value comes from the cost of printing it then a five dollar note will be worth same as a $100 note. Besides, bitcoin was worth
$0 not long ago.

ameri9ja:


I beg to differ. If the value comes from the cost of printing it then a five dollar note will be worth same as a $100 note. Besides, bitcoin was worth
$0 not long ago.

The keyword there is "INTRINSIC". We could as well be using stones as money. Printing means some initial cost, it also means limited supply. These come into play before other scales of economics. I hope you get my point.

naijacutee:
The trouble with bitcoin is that no one is using it as a currency. Everyone is investing in it. This is a problem.

Yes, right. See Bitcoin as a gold reserve. A lot of institutional investors have said this. Other coins for example Litecoin can be used for smaller transactions. To put this in perspective, the founder of Litecoin said Bitcoin can be used for larger transactions like buying a house or car, while Litecoin can be used to pay for your Starbucks in the future.

And guess what, recently a Bugatti was out up on sale for Bitcoin only. An island in one of the countries was put on sale and guess what payment must only be in Bitcoin.

With time, as the block chain technology is explored, adoption of not just Bitcoin but more innovative solutions will increase.

Bitcoin is not here to replace fiat currencies but to revolutionalize international transfer and serve as a digital store of value like gold.

dammyeve:
Bitcoin is not here to replace fiat currencies but to revolutionalize international transfer and serve as a digital store of value like gold.

Exactly

JustCryptos:


The keyword there is "INTRINSIC". We could as well be using stones as money. Printing means some initial cost, it also means limited supply. These come into play before other scales of economics. I hope you get my point.

Sort of, I guess. Thanks. Though I don't see how there is intrinsic value in something that at one point had zero value. Also the limited supply of money does not result from it's having to be printed but from it's having to be backed by something. Bitcoin is backed by nothing.

ameri9ja:


Sort of, I guess. Thanks. Though I don't see how there is intrinsic value in something that at one point had zero value. Also the limited supply of money does not result from it's having to be printed but from it's having to be backed by something. Bitcoin is backed by nothing.

My brother I rest my case ooo

JustCryptos:
Visit any of the sites above. I want to believe you are familiar with buying BTC.

just still learning from u guys

JustCryptos:


My brother I rest my case ooo

I hear ya.
Bottom line non of us really understands this bitcoin/cryptocurrency phenomena. A currency worth near zero in 2010, the same exact currency now worth $13,000 (I checked, the price has fallen sharply) makes no sense. Neither does a crrency tied to nothing and backed by no govt.

rookidmart:
Thinking bitcoin will replace fiat is delusional.

I like bitcoin and all, but that's not possible.

At most it will be the world reserve

Recently, Ethereum founder Vitalik Buterin spoke about Ethereum’s capacity to have transactional power to equal Visa in the next two years. Buterin believes the cryptocurrency and its blockchain will replace credit card networks and gaming servers.

JustCryptos:


My brother I rest my case ooo

I Just read the below. How can something getting easier to make be increasing in price?

"With Bitcoin ATMs and widespread knowledge and adoption, it is now easier than ever to mine and obtain Bitcoins and make actual transactions."

List of top virtual currencies in 2017 and what differentiates them

Divya Joshi Oct. 19, 2017, 5:07 PM214,895

With more than 1,100 cryptocurrencies and a total market cap of approximately $150 billion circulating in the market today, this ‘next-gen gold’ has taken the financial world by storm.

The question of their survival, which enveloped this fintech invention in the beginning, has now been replaced by the question of the extent of its evolution and adoption. Industry skeptics raised concerns regarding the new "currency’s” power to disrupt the financial landscape as we know it and lead world economies to lose financial control to the hands of the common man.

Even when many countries and companies ‘banned’ the use of the digital currency, its rapid growth and mass adoption by technology aficionados and leading global firms (such as Microsoft, Virgin Galactic, Shopify, and Tesla) led to its strengthening in today’s fiscal society.

According to a report by PwC, cryptocurrencies have been called one of the “greatest technological breakthroughs since the Internet.” They have also been called “a black hole” into which a consumer’s money could just disappear. 
These two stark contrasting statements are the reason why cryptocurrencies have inspired more debate than actual commerce. 

In this article, BI Intelligence, Business Insider’s premium research service, has listed the top cryptocurrencies of 2017, decoding the cashless era’s top players.

Bitcoin

Having the first-mover advantage, Bitcoin is the world’s first peer-to-peer decentralized digital currency, which is now not only the most recognized and known cryptocurrency, but also the only digital currency that is most widely accepted and used in numerous real-world transactions.

With a market cap of approximately $80 billion and a supply of more than 16.5 million Bitcoins, one Bitcoin (until recently) had a value of more than $4,800, making it the costliest virtual currency on the market. Recently, it broke an all-time record high and hit a historic mark when its value peaked at awhopping $5,856.10 on October 13, 2017.

With Bitcoin ATMs and widespread knowledge and adoption, it is now easier than ever to mine and obtain Bitcoins and make actual transactions.

Coinbase operates one of the most popular wallets and is a simple way to buy Bitcoins, while Xapo is known for its ease of use in Bitcoin transactions and as a bitcoin cold-storage vault.

The main advantages of Bitcoins over other cryptocurrencies, according to Bitcoin developer andMedium writer Jimmy Song, are its network effect and proven security. According to him, other advantages of Bitcoins that make them unique are:

Bitcoin is more accessible with more merchants, more exchanges, and software/hardware support systems available.It has the largest developer ecosystem with more software and more implementations.First mover advantage: Large user base, loyalists, and entrepreneurs creating companies (open source projects, startups) around it.It is far more liquid than other digital currenciesSecurity has been proven far more than its much younger counterparts with usage by almost every metric exceeding that of altcoins.It has a large lead as a store of value.

Bitcoin should, however, not be confused with Bitcoin Cash. Bitcoin Cash is a breakaway part from Bitcoin, which is now a separate cryptocurrency itself. Bitcoin Cashhas a market cap of nearly $5.5 billion, and one BCH can be bought for $nearly $330 as of this writing.

BII

Ethereum

Proposed in late 2013, Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship, or third-party interference. It provides a decentralized virtual machine, theEthereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.

Ethereum is a platform built for smart contracts, but it has been controversial and resulted in diverging blockchains.

The market cap of Ethereum is more than $29 billion with a price of approximately $300 (from a mere $8 at the start of 2017). In the historic quarter for cryptocurrencies, Ethereum’s rise has been almost negligible in terms of what is expected from digital currencies, it has gone up just 8%.

The Ethereum Wallet is a gateway to decentralized applications on the Ethereum blockchain. It allows you to hold and secure ether and other crypto-assets built on Ethereum, as well as write, deploy and use smart contracts.

Despite Ethereum being overshadowed by Bitcoin in various arenas, recent news and developments in the Ethereum realm have started igniting deep interest in this cryptocurrency.

Recently, Ethereum founder Vitalik Buterin spoke about Ethereum’s capacity to have transactional power to equal Visa in the next two years. Buterin believes the cryptocurrency and its blockchain can replace credit card networks and gaming servers.

Also in major news this year, thirty big banks, tech giants, and other organizations (including J.P. Morgan Chase, Microsoft, and Intel) are uniting to build business-ready versions of the software behind Ethereum. The Ethereum alliance arrives as a challenger to several other extant blockchain ventures.

In April 2017, a Microsoft demo day in New York featured Ethereum blockchain strongly. There, three high-profile companies – Bank of America, tech firm Mojix, and digital travel firm Webjet – demoed products built using Ethereum to streamline various aspects of their industries and usher in new levels of transparency.

Altcoins

Altcoins or "Alternative coins" are the alternative cryptocurrencieslaunched after the success of Bitcoin. Altcoins promote themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow.

Although the list is constantly changing, the top 10 Altcoins(contenders of Bitcoin) are:

Ethereum 

Ripple 

Litecoin 

Dash: Digital+ cash 

NEM

Ethereum Classic 

Monero 

Zcash 

Decred: Decentralized credit

PIVX: Private Instant Verified Transactions

Where to Buy Cryptocurrency?

Ranging from BTMs (Bitcoin ATMs), embassies, and exchanges, cryptocurrencies can be bought and traded at multiple locations worldwide.

Cryptocurrency exchanges are websites where you can buy, sell, or exchange cryptocurrencies for other digital currencies or traditional currencies such as US dollars or Euro. There are three types of exchanges:

Trading PlatformsDirect TradingBrokers

Amongst a number of host platforms, some of the best cryptocurrency exchanges based on user friendliness, accessibility, fees, and security are:

Coinbase- one of the most popular and well-known cryptocurrency broker/trading platform in the worldKraken- is the largest Bitcoin exchange in euro volume and liquidity and is a partner in the first cryptocurrency bank.io- The platform lets users easily trade fiat money with cryptocurrencies and conversely cryptocurrencies for fiat money.Poloniex and many others.

BTMs or Bitcoin ATMs are Internet machines that allow a person to exchange Bitcoins and cash. Some Bitcoin ATMs offer bi-directional functionality; these machines enable the purchase of Bitcoin as well as the redemption of Bitcoin for cash.

Bitcoin kiosks are machines which are connected to the Internet, allowing the insertion of cash in exchange for Bitcoins given as a paper receipt or by moving money to a public key on the blockchain. They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account. They instead connect the user directly to adigital exchange.

The world’s first BTM was installed in Vancouver in 2013, and they have since expanded to various countries all around the world.Coin ATM radar actually allows you to find Bitcoin or other cryptocurrency ATM locations/exchange services on their world map.

Bitcoin embassies are physical locations there to represent Bitcoin and blockchain technology to show people how the technology works. They offer consulting services, information on Bitcoin mining equipment, security tools, storage solutions, and other related information. 

More to Learn

Cryptocurrency is a growing mega-trend, which is being recognized worldwide and is being incorporated into daily life transactions. Bitcoin has the fintech ecosystem and the resources to compete, whereas its counterparts are still trying to stay on top and fight the other 1,100 cryptocurrencies in the market space. 

BI Intelligence has delved further into this virtual competition between the digital currencies and has put together two detailed reports on the blockchain: The Blockchain in the IoT Report and The Blockchain in Banking Report. 

To get these reports, plus immediate access to more than 250 other expertly researched reports, subscribe to an All-Access pass to BI Intelligence. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now

You can also purchase and download the full reports from our research store: 

                            >> Blockchain in the IoT

                            >> Blockchain in Banking

EXCLUSIVE FREE REPORT:
The Bitcoin 101 Report by the BI Intelligence Research Team.
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naijacutee:
The trouble with bitcoin is that no one is using it as a currency. Everyone is investing in it. This is a problem.

The trouble with bitcoin is that it makes no sense. All I keep hearing is "blockchain", "leger",
"blockchain", "ledger"!!
Nobody has been able to explain how something we all know is not real and not tied to anything of real-life value and not backed by a govt can be worth $17,000!!

ameri9ja:


Recently, Ethereum founder Vitalik Buterin spoke about Ethereum’s capacity to have transactional power to equal Visa in the next two years. Buterin believes the cryptocurrency and its blockchain will replace credit card networks and gaming servers.

LMFAO.
ETH can't scale without breaking many laws of computer Science.

ameri9ja:


The trouble with bitcoin is that it makes no sense. All I keep hearing is "blockchain", "leger",
"blockchain", "ledger"!!
Nobody has been able to explain how something we all know is not real and not tied to anything of real-life value and not backed by a govt can be worth $17,000!!

I encourage you to take out time and read. Instead of trying to argue, make out time and read.

JustCryptos:


I encourage you to take out time and read. Instead of trying to argue, make out time and read.

Whatcha think of this by former chair of Fed Reserve? (Note bolded)

Greenspan compares bitcoin to Colonial America currency that eventually became worthless

Greenspan compares bitcoin, at more than $12,000 as of Wednesday, to the money issued by the Continental Congress in 1775 to finance the war effort.Even something that is ultimately worthless can create real goods and services in the near term, Greenspan says.

Liz Moyer

Published 10:32 AM ET Wed, 6 Dec 2017Updated 1:08 PM ET Wed, 6 Dec 2017

Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless.

Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. In the in-between years, however, the money allowed patriots like George Washington to buy armaments and other supplies.

Continental money was so-called fiat currency. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver.

So will bitcoin ultimately be worthless? Not necessarily. It depends on the future supply. In the case of Continentals, the amount of currency just kept rising, in part because they were easily counterfeited.

Greenspan is not surprised that cryptocurrencies are popular.

"Human beings buy all sorts of things that aren’t worth anything, but they do it anyway,” he said.
"People gamble in casinos when the odds are against them. It has never stopped anybody."

“You cannot tell me that you can create, out of nothing, something which has a medium of exchange value
without bringing into the analysis the fact that sometimes people are a little bewildered,” he said.

“That does not mean it will not trade,” he added.

WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters.

rookidmart:

LMFAO.
ETH can't scale without breaking many laws of computer Science.

Whatcha think of this by former chair of Fed Reserve? (Note bolded)

Greenspan compares bitcoin to Colonial America currency that eventually became worthless

Greenspan compares bitcoin, at more than $12,000 as of Wednesday, to the money issued by the Continental Congress in 1775 to finance the war effort.Even something that is ultimately worthless can create real goods and services in the near term, Greenspan says.

Liz Moyer

Published 10:32 AM ET Wed, 6 Dec 2017Updated 1:08 PM ET Wed, 6 Dec 2017

Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless.

Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. In the in-between years, however, the money allowed patriots like George Washington to buy armaments and other supplies.

Continental money was so-called fiat currency. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver.

So will bitcoin ultimately be worthless? Not necessarily. It depends on the future supply. In the case of Continentals, the amount of currency just kept rising, in part because they were easily counterfeited.

Greenspan is not surprised that cryptocurrencies are popular.

“Human beings buy all sorts of things that aren’t worth anything, but they do it anyway,” he said.
"People gamble in casinos when the odds are against them. It has never stopped anybody."

“You cannot tell me that you can create, out of nothing, something which has a medium of exchange value
without bringing into the analysis the fact that sometimes people are a little bewildered,” he said.

“That does not mean it will not trade,” he added.

WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters.

ameri9ja:


Whatcha think of this by former chair of Fed Reserve? (Note bolded)

Greenspan compares bitcoin to Colonial America currency that eventually became worthless

Greenspan compares bitcoin, at more than $12,000 as of Wednesday, to the money issued by the Continental Congress in 1775 to finance the war effort.Even something that is ultimately worthless can create real goods and services in the near term, Greenspan says.

Liz Moyer

Published 10:32 AM ET Wed, 6 Dec 2017Updated 1:08 PM ET Wed, 6 Dec 2017

Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless.

Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. In the in-between years, however, the money allowed patriots like George Washington to buy armaments and other supplies.

Continental money was so-called fiat currency. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver.

So will bitcoin ultimately be worthless? Not necessarily. It depends on the future supply. In the case of Continentals, the amount of currency just kept rising, in part because they were easily counterfeited.

Greenspan is not surprised that cryptocurrencies are popular.

"Human beings buy all sorts of things that aren’t worth anything, but they do it anyway,” he said.
"People gamble in casinos when the odds are against them. It has never stopped anybody."

“You cannot tell me that you can create, out of nothing, something which has a medium of exchange value
without bringing into the analysis the fact that sometimes people are a little bewildered,” he said.

“That does not mean it will not trade,” he added.

WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters.

Here's what you are doing. You take out time to look for all the gative news on Bitcoin and then you come to claim an expert. In the same manner look for what John McCafee, Warren Buffet, Bill Gate, Richard Branson, the US Senate, Japan, and even Venezuela and saying and doing about cryptocurrencies.

All what I know is that success in this life belongs to risk takers. period

JustCryptos:


Here's what you are doing. You take out time to look for all the gative news on Bitcoin and then you come to claim an expert. In the same manner look for what John McCafee, Warren Buffet, Bill Gate, Richard Branson, the US Senate, Japan, and even Venezuela and saying and doing about cryptocurrencies.

These are things I chance upon. I was listening to BBC and they quoted Greenspan. That's how I chanced on this. Expert! Don't make me laugh. I only actually googled bitcoin few days ago. I find it quite fascinating and I'll post every interesting thing I find out about it on this thread.

ameri9ja:


These are things I chance upon. I was listening to BBC and they quoted Greenspan. That's how I chanced on this. Expert! Don't make me laugh. I only actually googled bitcoin few days ago. I find it quite fascinating and I'll post every interesting thing I find out about it on this thread.

Go ahead then.

I can see those that missed the opportunity to invest in bitcoin are now trying so hard to defame it just to console themselves...Lot of us missed it, but it is not enough reason to start going about looking for reason to defame it just to feel good...Take time to research sth that will profit u...

ameri9ja:


Whatcha think of this by former chair of Fed Reserve? (Note bolded)

Greenspan compares bitcoin to Colonial America currency that eventually became worthless

Greenspan compares bitcoin, at more than $12,000 as of Wednesday, to the money issued by the Continental Congress in 1775 to finance the war effort.Even something that is ultimately worthless can create real goods and services in the near term, Greenspan says.

Liz Moyer

Published 10:32 AM ET Wed, 6 Dec 2017Updated 1:08 PM ET Wed, 6 Dec 2017

Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless.

Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. In the in-between years, however, the money allowed patriots like George Washington to buy armaments and other supplies.

Continental money was so-called fiat currency. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver.

So will bitcoin ultimately be worthless? Not necessarily. It depends on the future supply. In the case of Continentals, the amount of currency just kept rising, in part because they were easily counterfeited.

Greenspan is not surprised that cryptocurrencies are popular.

“Human beings buy all sorts of things that aren’t worth anything, but they do it anyway,” he said.
"People gamble in casinos when the odds are against them. It has never stopped anybody."

“You cannot tell me that you can create, out of nothing, something which has a medium of exchange value
without bringing into the analysis the fact that sometimes people are a little bewildered,” he said.

“That does not mean it will not trade,” he added.

WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters.

Ironic that he's talking about creating something out of nothing that isn't backed by gold, while governments can print money anytime they want, and the USD is no longer backed by gold for centuries now.

rookidmart:

Ironic that he's talking about creating something out of nothing that isn't backed by gold, while governments can print money anytime they want, and the USD is no longer backed by gold for centuries now.

Well, he was head of Fed Reserve. Don't u think he should know. Currency has to be tied to something, be it foreign reserve or whatever and they generally lose slight value over the years. Bitcoin is the opposite: the value is tied to nothing (except speculative supply and demand) and has been all over the place, but has generally gone up.

rookidmart:

Ironic that he's talking about creating something out of nothing that isn't backed by gold, while governments can print money anytime they want, and the USD is no longer backed by gold for centuries now.

Centuries? Don't forget I got google:

Is U.S. currency still backed by gold? 

No, when the United States stopped selling gold to foreign official holders of dollars at the rate of $35 an ounce in 1971, it brought the gold exchange standard to an end. In 1973, the United States officially ended its adherence to the gold standard. Many other industrialized nations also switched from a system of fixed exchange rates to a system of floating rates. In August 1974, President Ford repealed the prohibition on the public's owning gold or engaging in gold transactions. Today, no country bans private ownership of gold.