Hashcoin - potential advanced Bitcoin replacement - thoughts?

[Driftingashore]

So-called "digital currency" is at best a bubble and at worst a scam. Somehow your financial future is more secure if you entrust it to some guy who says his digital magic beans are somehow more valuable than everyone else's magic beans.

 

If you're lucky and get in at the right level you might strike it lucky. You know, if you bet on the right brand of snake-oil. I mean there are people out there who 'made' money on bitcoins and managed to turn it back into real money during a high, right? On the other hand, it reminds me greatly of the old saying: "if you can't tell who the sucker at the card table is..."

 

Yeah, I'll get right on that.

 

Strangely enough, I tend to agree - especially when it comes to alt coins. As an investment strategy, unless you have money to burn, it's about as risky as it gets. The best way to do it is mine/buy in early, but I wouldn't bother with most of the clones. However, I <3 the Doge community and should the coin collapse, I'm not going to cry over my £4 loss. To the moon! *ahem*

[Roberto]

Strangely enough, I tend to agree - especially when it comes to alt coins. As an investment strategy, unless you have money to burn, it's about as risky as it gets. The best way to do it is mine/buy in early, but I wouldn't bother with most of the clones. However, I <3 the Doge community and should the coin collapse, I'm not going to cry over my £4 loss. To the moon! *ahem*

 

Fair enough. You're essentially laying down a £4 bet rather than investing £100s like some people have done. I think we all know which one of those scenarios is most likely to end in tears.

[Garacesh]

I thought about doing so, however i thought as the topic was sparked by a public page, and that there isn't really anything personal or private in it, that it would be more suited to General. my bad if I was wrong. However If someone does want to join in from Hashcoin themselves, then all the more for it, that would make for an interesting spin to the conversation!

Indeed! I'm not sure what the motivation behind the hashcoin shill is, but if s/he's one of the devs for it then just step up, say it, and join in the discussion as a dev. We're not thick, we can tell when people sign up to promote an agenda. If you're not a dev, what's your motivation? Unaffiliated but just been paid to promote, or are you involved in some manner? Just an Average-Joe miner trying to stir up hype in hopes of raising value?

 

Wouldn't say you were 'wrong' posting it in general. It was me sarcastically being cynical and saying he wouldn't have found this thread if it was BTRD (as BTRD isn't indexed on search engines)

[Driftingashore]

Fair enough. You're essentially laying down a £4 bet rather than investing £100s like some people have done. I think we all know which one of those scenarios is most likely to end in tears.

 

That's pretty much how I see it. Instead of buying a lottery ticket (also a waste of money, but that's another story), I bought some Doge. At least with cryptos you get to play around with trading and the markets. I could cash out right now double my money, but I'd rather continue the gamble, play the markets, and hope Doge continues to grow. It's certainly more fun than playing the lottery.

 

People investing more than they can afford to lose isn't unique to Bitcoin (or any crypto), but arguably, most of the people that lost massive amounts of BTC at Gox didn't invest anywhere near as much as they "lost" in the collapse to get it - especially those that mined or got in early, who are the people with the most BTC to lose. I could have invested £20 18 months ago and "lost" thousands when Gox failed. I don't think you'll see many from the BTC community wandering homeless on the streets.

Edited February 27, 2014 by Driftingashore

[featured_spectre]

I got 5000 doge coins for £1 (before the doge coin donated to the jamaican winter olympics) and it was pretty constant, gained a penny here, lost a penny there, nothing bad about that. After the winter olympics donations, my dogecoins went up to a value of £5. Not much I grant you but thats still a nice increase none the less. I will leave the doge coins simply for the fact that I paid £1 for them, so it is no big loss. If they make it big, wahey! if not, such is life.

[CHR1S]

Its risk Vs reward; and like most things in life, money makes money.

 

Where your £1 @nephilim returned you £5, someones £10,000 returned them £50,000.

 

I know what I would be investing, but hell I am a gambler! However as long as you top slice and cover your outlay when your up and ensure you set your stop losses you should always break even. Everything above that is just gravy!

[Earthling]

But then spending them is nearly impossible. For a currency to work, you have to spend it.

 

 

I must be getting old, or I've got old.

 

I've read as much as I could of the funding page as I could before my brain neared critical mass with all the buzzwords on there, and I've tried to follow as much of this thread as I can, but......I'm completely lost. The only thing that made sense to me was the quote above.

 

I trust cash......money....banknotes, coins......I don't trust financial advisors, I don't trust pension funds (other than the LGPS), or any other financial service which wants to 'hold' your money, to 'invest' it for you, on the proviso that they might lose it all, by the way, and it's not their fault.

 

I am quite happy to keep my money under the mattress, in a pillow, buried in the garden (if I had one) or even on my person, in my sock......anywhere where I have control of it, and no one else, and when I finally cash out my pension, that's exactly what I shall do. If I have to die defending it from 'robbers', then at least I'm defending it, not handing it over to some sharp-suited, fast-talking, cocaine-snorting wide-boy banker, only for them to tell me, 'Oh dear, it's all gone, we made a loss on , but that's the risk you took when you gave it to me'.

 

Have to go now, just had 52 Dell i5's delivered.

 

There was another quote which seemed to hit the nail on the head......'If you can't tell who the sucker at the card table is..........'.