Long Position on Silver and Gold?

[Grant H.]

I?m banking on the future of crypto?s. Well maybe not banking. More like speculating I guess. I do think the concept has a lot of promise. It?s actually implementing the concept that is going to be problematic I think. I?m sitting on what I have for the long run and we?ll see what happens.

I disagree...

Look at the 51% attack that Ethereum went through a couple months ago. That kind of vulnerability is exactly why blockchain and the whole crypto idea will never take over any real currency or market.

I've made a decent amount day trading the crypto's but after watching them all tank, every single one of them, for several weeks after a relatively benign 51% attack, I don't see a realistic future it...

[ChickNorris]

I disagree...

Look at the 51% attack that Ethereum went through a couple months ago. That kind of vulnerability is exactly why blockchain and the whole crypto idea will never take over any real currency or market.

I've made a decent amount day trading the crypto's but after watching them all tank, every single one of them, for several weeks after a relatively benign 51% attack, I don't see a realistic future it...

Um, for those who may read the above & immediately think cryptocurrency is block chain, it is NOT.

Bitcoin, Ethereum, Dogecoin, Litecoin, Monero & all the others are just using the block chain technology to prevent the double spend problem that is inherent in all public trustless digital transactions.

Ethereum's specific 'proof of work' algorithm was why the 51% was possible. 'Proof of stake' is more energy efficient which is what they are going towards which then should make it harder to usurp at the fork. Maybe.

On the flip side, the resources necessary to try the same attack on Bitcoin would be so cost prohibitive that only nation state actors could afford it & even then people would notice all the mining migration.

But I don't care about cryptocurrencies... I'm a nerdette who just likes the ledger which is why I chimed in to clarify. POIT

[Grant H.]

Um, for those who may read the above & immediately think cryptocurrency is block chain, it is NOT.

Bitcoin, Ethereum, Dogecoin, Litecoin, Monero & all the others are just using the block chain technology to prevent the double spend problem that is inherent in all public trustless digital transactions.

Ethereum's specific 'proof of work' algorithm was why the 51% was possible. 'Proof of stake' is more energy efficient which is what they are going towards which then should make it harder to usurp at the fork. Maybe.

On the flip side, the resources necessary to try the same attack on Bitcoin would be so cost prohibitive that only nation state actors could afford it & even then people would notice all the mining migration.

But I don't care about cryptocurrencies... I'm a nerdette who just likes the ledger which is why I chimed in to clarify. POIT

Fair.

My intent was not to make it sound like blockchain=crypto, but merely to point out that the vulnerability exists and was proven as existing with the Ethereum attack.