The Fork in the Road is the Wrong Fork

Though there are probably many of us who have received Lotto tickets for Christmas, based on the skyrocketing values of BTC, ETH and the like we probably wouldn’t have minded receiving crypto currency.

Though, that season has passed, and what to do for donations? Hey brother, could you spare a Bitcoin? Fidelity:

Announced today, the global charity revealed it has received $69 million in cryptocurrency donations in 2017, making it the fastest-growing asset type accepted by the firm. According to Fidelity Charitable’s annual report, the funds, which included donations in bitcoin and ether, came from 169 different donors.

It’s great news for some, though, isn’t it a bit risky?

Risky

Well.  We’re coming up on the Chinese New Year. A time for saving money, a time to tighten those belts.. Wait. What?

Ahead of New Year holidays (starting Feb. 15), Chinese and South Koreans often exchange bitcoin for fiat currencies (to fund increased spending), and bitcoin (BTC) tends to drop in the run-up to the event.

It’s a good bet that Bitcoin Sees Backwards Running Bulls as Chinese and South Koreans Spend before the Holidays

“It’s the fees!” The slow transaction times!  Payment gateways are dropping bitcoin because of volatility in transactions.

The solution is coming, and its Lighting. Though per the newness of the network you may want to hold on to your hats or your BTC as the case may be.  The network is ‘new’, and buggy, and as some have warned in this easy to read guide:  Bitcoin on Lightning. How to Lose everything in a Flash!

Moving forward a few ‘lite’ years away.  It’s litecoin! It’s litecoin Cash! Its.  Its. A Scam?  With the coming hard fork of litecoin there seems to be some trading confusion as to what that will do to values.  Even enough confusion for Charlie Lee to speak out.

Litecoin founder creator Charlie Lee and the litecoin community have dismissed the project, calling it a “scam” meant to confuse litecoin owners. Bitcoin similarly boomed on the release of a rival blockchain called bitcoin cash last year, though there were perhaps more stark differences between the two technologies, both propelled by competing ideologies.

With craziness like this, it seems to good time to set the record straight! The Fork in the road is the wrong fork!

So, have you found that your Salon reading seems.. slower? Well guess what, if you’re running an ad blocker you’re right!  Salon: Don’t like our ads? Eat the cold porridge! I’ll be interested in the press moving forward, and/or if this zombie mining approach brings in more  readers.

Salon will profit by selling “a small percentage of [users’] spare processing power to contribute to the advancement of technological discovery, evolution and innovation,” the company explained. While they don’t come out and say it directly, the site, according to The Verge, is using the open-source CoinHive software in order to mine the cryptocurrency monero.

I honestly can’t see which way this will go. My initial thought is ‘Nope!’ However, maybe this is the future?  It feels wrong, but only because it’s like I’m paying a cover charge for something I didn’t agree to pay for in the first place. Now, maybe if they shared back some of the monero my CPU generated?  Huh? Yeah?  Anyone?

The housing market is booming.  At least here in West Michigan ( and a whole lot of other places I understand. )   However, this new idea feels like a floaty unicorn dancing on a double rainbow.  Again, I can’t read the future, but I do know that I personally like owning my own home.  Am I really sure I want to share it with my other co owners on the blockchain? Maybe yes? At the very least I don’t think I’ll be jumping on the bandwagon today.

“There has to be a lot shaken out in the blockchain world,” he told CoinDesk.

On top of that, some believe bringing crypto to real estate could introduce some of the magical thinking that drove the housing market, and seeing similar exuberance here could pique the interest of lawmakers and regulators.

Nussbaum acknowledged the danger, saying, “The risk is that irrational exuberance sets in and those investors don’t fully understand what they’re buying.”

The concepts have merit though, and if you float along said rainbow, you see that if the right people can blockchain the process from title to sale, there probably is a real opportunity here.

Some small tidbits before I close.  Today crypto crept up again, and that is great.  With the wild ride it’s been this last week, any good news can feel great.  I’ll leave you with both sides of the same coin.

It’s over 9000!

Phew?

Leave a Reply

Create a website or blog at WordPress.com

Up ↑

%d bloggers like this: