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earthdome

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earthdome last won the day on January 31

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About earthdome

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    Male
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    USA Midwest
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    Reading, movies, science fiction, computers, programming and sports.

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  1. Another Idiot Giving Expats a Bad Name

    Looks like there is an opportunity in the market for an online while naked on back of caraboa business..
  2. Christmas box twofer: Manuana & not my fault

    I have a large closet where things will accumulate over time until we finally send one or two balikbayan boxes. My wife does fairly well at shopping garage sales, clearance, seasonal sales and after holiday sales. Stores just don't have sales in the Philippines like they do in the USA. Over time her sense of value and what is a good price continues to improve. That was a valuable skill set as we shopped over the summer and fall for baby things.
  3. Who knows what might happen in 5 years. Perhaps the horse will learn how to sing.
  4. One of the worst scams in the crypto world isn't even a real crypto currency. There is just a website which fakes a crypto currency and is running a Multi Level Marketing (MLM) ponzi scheme. You can read more about it here: https://en.wikipedia.org/wiki/OneCoin Warning. This is a confirmed scam. I posted a link to information about it so others could learn how they operate.
  5. Yeah, that sounds pretty scammy. If the investment sounds too good to be true. It probably is a scam. There have been a number of those mining pool ponzi scams. As they say, a fool and his money is soon parted. I bought a 6 month and a lifetime contract in a mining pool last summer. This was a legit mining pool operated by someone with a long history of investing in this space. I have already cashed out more than my initial investment. My returns were more like 0.1% per day. Still a nice return but nothing like the scam above and there were no guarantee's.
  6. Trip to Baguio

    Thanks for the update OMW. This is festival month so increased traffic is not unexpected. I have a fondness for Baguio having lived there for two years and meeting my wife there. We are looking forward to visiting next summer when we visit my wife's family with our new daughter.
  7. The .com boom happened a bit slower since it was communicated mostly by old media. The crypto currency boom happened much faster since it could spread at internet speeds. Also the crypto currency boom is global rather than just in select stock markets. One thing to keep in mind. Even with the dramatic drop in prices, down to one third off the recent high. Bitcoin is still priced at 5 times more than its price a year ago.
  8. It can be easy at first glance to think all the coins are the same, just different names. There are many ways crypto currencies are differentiated from each other. Bitcoin has a huge advantage from being first to market, it is the most well known and most widely adopted crypto currency. But that advantage is slowly fading. Two years ago bitcoin was 90% of the crypto market, now it is down to 35% as other crypto coins find ways to provide value propositions that differentiate them from bitcoin. So one factor is how well known and widely adopted the coin is. Litecoin was the first new coin after bitcoin. It was just a copy of bitcoin with a few minor changes to how it operated. For a long time it was considered the silver to bitcoin if you thought of bitcoin as gold. its value proposition was showing there was room in the market for more than one coin. Since then it has been the first to implement some new features which were later implemented in bitcoin itself. Other coins try to address the issue of all the electricity used for bitcoin mining by changing its proof of work algorithm and other changes to how the blockchain works. Other coins make changes to try and improve the privacy and anonymity over that provided by bitcoin. Some coins like Ethereum and major new features to what a blockchain can do. The developer for ethereum originally wanted to add the new features to bitcoin but the major players in the bitcoin community had become conservative in making changes. So the developer created Ethereum with its coin Ether. Yes, there are many of the coins that are just clones which add no new value proposition. Just attempts to get rich quick. But there also is a great deal of innovation occurring.
  9. This doesn't make sense to me. Those selling bitcoin and other crypto currencies normally don't accept credit cards for two reasons. First the card might be stolen and second what if the person does a charge back after they receive the bitcoin? For these reasons buying crypto currencies with credit cards has not been very common. I could buy bitcoin with my credit card using my Coinbase account but that is strictly limited to small amounts and only if you have already setup for direct bank transfers.
  10. Nationalistic, intolerable Filipinos.

    My wife has lived in the US for 3 years now. It will be interesting to see how she is when we return to live there in a few years.
  11. I can't speak for Satoshi Nakamoto, the creator, but I will do my best based on what is known.FYI, he disappeared 8 years ago. Here is a link to the whitepaper documenting his original research: https://bitcoin.org/bitcoin.pdf There are two general models for software development. The Cathedral and the Bazaar, https://en.wikipedia.org/wiki/The_Cathedral_and_the_Bazaar The Cathedral is proprietary closed source, think Apple or MS. The Bazaar is open source software which encourages participation and innovation. Think Linux and Mozilla Firefox. Most of the internet services people use are built on top of open source software. Bitcoin was released as open source by Satoshi to encourage participation and innovation. I suspect Satoshi was more of an academic or researcher than a computer programmer. The original source code was ok, but not what a professional would do. I think Satoshi was more interested in the project than making money, more interested in providing an alternative to government central banks and large financial institutions. At the time bitcoin was released in late 2008 the big housing bubble had recently burst with the huge government bailout of banks and other insitutions. Satoshi referenced this in a note in the first (genesis) block of the bitcoin blockchain. Based on analysis of the bitcoin blockchain it is estimated that Satoshi control's between 5-10 billion USD of bitcoin. Bitcoin that Satoshi has never used or sold. It seems Satoshi is one of those rare individuals who when he had access to great fame and fortune decided to remain anonymous and humble. I will address why someone like you might be interested in bitcoin in a later post.
  12. Bitcoin and other crypto currencies are very volatile with large price swings. There have been a number of bubbles in bitcoins short life. It burst at $30 back down to $1. It burst at $1100 back down to $200. This is just how the growth/adoption curve for these crypto currencies goes. Long term crypto currencies are here to stay. There is no putting the genie back in the bottle.
  13. The first thing to consider is what problem does the technology underlying bitcoin solve? Why has this whole bitcoin and crypto currency thing gone viral in the last year? The problem that some cryptographers and computer scientists have been trying to solve for decades is the creation of a true digital/internet currency that can be used like cash but over the internet. The problem is how do you prevent someone from making a copy of the digital cash like you can copy a movie. How do you prevent someone from being able to spend the same digital cash more than once? How do you keep it anonymous like cash if a third party like PayPal conducts the transaction for you. How is it like cash if it is just an account entry in some corporations database rather than something you hold in your own hand or store under your mattress? There have been a number of attempts to create internet money like PayPal, eGold, etc. but they have never really solved the root problems. So what features do you need to solve these problems. The digital currency needs to be trustless. In other words two people can conduct a transaction between themselves without having to use and trust a third party. The digital currency needs to be immutable. In other words once a transaction has been done it can't be reversed or changed. The digital currency has to prevent double spends. You can only use the cash once, no counterfeiting or copying. Transactions should be anonymous. Like cash, only the two parties conducting the transaction could know. Control. The individual should control their digital money directly rather than relying on a third party. The first time the above problems were solved was when the bitcoin white paper was released in late 2008. It was released by a person or persons who realized how much of a game changer bitcoin was so they remained anonymous and are only known by the name Satoshi Nakamoto. The breakthrough was the development of the software technology to have a trustless immutable database (ledger) for the digital currency transactions. This is what people call the blockchain. Regardless of what happens to bitcoin as a currency blockchain technology will end up being deployed to solve problems in 100's if not 1000's of applications. Major computer and financial corporations are developing solutions using blockchain technology. Thats it for now. More later on bitcoin itself.
  14. I will give it a shot. But in a series of posts over time. Just too much information for one post.
  15. Bitcoin is not an equity. It most closely resembles a commodity or a currency. Neither of which provide a cashflow. Yet many investors trade both commodities and do foreign exchange trading. The price rise over time of bitcoin and other crypto currencies is based on an adoption curve. There is value in crypto currencies based on its utility. For example you can move value across international borders easily, quickly and at low cost. It is decentralized so there is no one business or corporation controlling it. It is open source software so it can be audited by programmers. It is a store of accounting that is immutable and can not be changed (blockchain). Then again, you are correct in that the prices of crypto currencies is very volatile and it is hard to know now which ones will be the winners or losers. Kind of like the .com bubble. As always only invest money that you can afford to lose. Currently there is a major correction in prices. My portfolio is down but still priced at more than 4 times my initial investment.
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