SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Alternative energy
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Glenn Petersen who wrote (16858)1/22/2018 4:26:39 PM
From: Doren1 Recommendation

Recommended By
gg cox

   of 16955
 
We'll see. Tough Sell: A Cryptocurrency Backed By Oil

I originally thought Bitcoin was a good idea. Limit the amount, make them hard to mine, and make the number of new ones decrease exponentially. I almost bought.

What bothered me was the amount, even at $500 ea Bitcoin is clumsy to use as a currency to buy a couple of flea combs from China that might cost .00002357 coins. It never seemed to me like it would be used widely as a currency. And I don't have the scratch to risk on something so speculative.

What I didn't see coming was, anyone can make a rival coin. And I think THAT is what is going to make the market for block chain currency take a big dive. Its really NOT LIMITED... every day more coins show up. Pretty soon there will be more block chain coins than there are real coins... that makes them worthless.

Don't know about the oil coin thing or energy coin thing specifically. Might have some credence if the coin is backed by something...

but I'm real skeptical.

Meanwhile some have become very rich just as in any ponzi scheme, but as in any ponzi scheme MORE will loose everything they invested.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News