Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Finance - Investments
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Finance - Investments Sub-forum: Non-Actuarial Personal Finance/Investing

Reply
 
Thread Tools Search this Thread Display Modes
  #51  
Old 04-24-2015, 11:35 AM
Colonel Smoothie's Avatar
Colonel Smoothie Colonel Smoothie is offline
Member
CAS
 
Join Date: Sep 2010
College: Jamba Juice University
Favorite beer: AO Amber Ale
Posts: 48,121
Default

Quote:
Originally Posted by The Biz View Post
Forgive me for my ignorance but hasn't Bitcoin experienced some the same/similar problems? I thought there were at least a few instances where millions (billions?) of bitcoins just disappeared. Doesn't sound any safer to me...plus you have the problem of trying to convince the masses to trust the digital currency, most of whom never heard of it let alone can understand it.
Bitcoin has its problems. That's why I'm skeptical when people say that Bitcoin is the future. It's reasonably doubtful that Bitcoin will be the de facto currency but certain aspects of Bitcoin are the way of the future. Like any new technology it comes with its own problems. However it does have many advantages over cash and I believe the cryptographic aspects of how it works is definitely the way of the future in terms of transaction security. This is the task of the early adopter, you have to push forward with imperfect technologies, discover their limitations and then improve them if you want to innovate.
__________________
Recommended Readings for the EL Actuary || Recommended Readings for the EB Actuary

Quote:
Originally Posted by Wigmeister General View Post
Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
Reply With Quote
  #52  
Old 04-24-2015, 11:56 AM
Freebird's Avatar
Freebird Freebird is offline
Member
SOA AAA
 
Join Date: Dec 2001
Location: Topeka, Kansas
College: Graduated from Ohio State too many years ago to remember
Favorite beer: Newcastle
Posts: 824
Default

Quote:
Originally Posted by nonlnear View Post
The poster in question wouldn't have to ask.
OK, you two! Get a room and duke it out!

Last edited by Freebird; 04-24-2015 at 12:11 PM.. Reason: Should have been red for sarcasm
Reply With Quote
  #53  
Old 04-24-2015, 12:02 PM
Fracktuary Fracktuary is offline
Member
CAS
 
Join Date: Aug 2012
Posts: 1,820
Default

Quote:
Originally Posted by The Biz View Post
Forgive me for my ignorance but hasn't Bitcoin experienced some the same/similar problems? I thought there were at least a few instances where millions (billions?) of bitcoins just disappeared. Doesn't sound any safer to me...plus you have the problem of trying to convince the masses to trust the digital currency, most of whom never heard of it let alone can understand it.
It has, Bitcoin as a store of value is exposed to the same sort of things that caused then flash crash.
Reply With Quote
  #54  
Old 04-24-2015, 12:05 PM
nonlnear nonlnear is offline
Member
Non-Actuary
 
Join Date: May 2010
Favorite beer: Civil Society Fresh IPA
Posts: 30,072
Default

Quote:
Originally Posted by Freebird View Post
OK, you two! Get a room and duke it out!
Why would I want to duke it out with CS? I was referring to jas.
Reply With Quote
  #55  
Old 04-24-2015, 12:13 PM
Freebird's Avatar
Freebird Freebird is offline
Member
SOA AAA
 
Join Date: Dec 2001
Location: Topeka, Kansas
College: Graduated from Ohio State too many years ago to remember
Favorite beer: Newcastle
Posts: 824
Default

Quote:
Originally Posted by nonlnear View Post
Why would I want to duke it out with CS? I was referring to jas.
Sorry about that! I fixed my post above so it is red font, to indicate sarcasm.
Reply With Quote
  #56  
Old 04-24-2015, 12:18 PM
nonlnear nonlnear is offline
Member
Non-Actuary
 
Join Date: May 2010
Favorite beer: Civil Society Fresh IPA
Posts: 30,072
Default

Quote:
Originally Posted by Freebird View Post
Sorry about that! I fixed my post above so it is red font, to indicate sarcasm.
I'm glad you went with red font sarcasm instead of putting duke it out in s!
Reply With Quote
  #57  
Old 04-24-2015, 01:12 PM
Freebird's Avatar
Freebird Freebird is offline
Member
SOA AAA
 
Join Date: Dec 2001
Location: Topeka, Kansas
College: Graduated from Ohio State too many years ago to remember
Favorite beer: Newcastle
Posts: 824
Default

Quote:
Originally Posted by nonlnear View Post
I'm glad you went with red font sarcasm instead of putting duke it out in s!
You're welcome. I try to be kind to others in my responses, and I don't want to be misinterpreted. No sarcasm at all from me in this response.
Reply With Quote
  #58  
Old 04-24-2015, 01:20 PM
Freebird's Avatar
Freebird Freebird is offline
Member
SOA AAA
 
Join Date: Dec 2001
Location: Topeka, Kansas
College: Graduated from Ohio State too many years ago to remember
Favorite beer: Newcastle
Posts: 824
Default

Quote:
Originally Posted by Fracktuary View Post
It has, Bitcoin as a store of value is exposed to the same sort of things that caused then flash crash.
I respectfully disagree. The Flash Crash was caused by a person who did not abide by the rules.

Well, digital currency does not depend on a person, but rather on math. That's the beauty. A person cannot violate the laws of math, so you avoid the "middleman".

As I said, this is a disruptive technology, so expect some bumps in the road while the world gets educated. I feel that we actuaries can play a role in that education.
Reply With Quote
  #59  
Old 04-28-2015, 01:00 AM
edward222's Avatar
edward222 edward222 is offline
Member
SOA
 
Join Date: Apr 2015
Posts: 51
Default

Bitcoin is now skyrocketing,
especially when the Spain exempted the bitcoin for VAT.

http://www.offshorenewsflash.com/201...empt-in-spain/
Reply With Quote
  #60  
Old 07-31-2015, 09:50 PM
MathinTucson's Avatar
MathinTucson MathinTucson is offline
Member
AAA
 
Join Date: Sep 2006
Location: West
Posts: 4,870
Default

There have been a couple of episodes on Bitcoin on Econ Talk in the last couple of months. Interesting stuff, and tempting to buy some, but the Mt. Gox issue is frightening indeed.
__________________
"We must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military–industrial complex." – President Eisenhower
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 06:00 AM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.26983 seconds with 10 queries