Bango Share Discussion Threads

[egrid1] 26/4/2018 23:04

So what are you investing in?

A business that cannot make any money because it does not charge a fee!

I guess they could put adverts on them, if only they were hard currency!

[chimers] 26/4/2018 23:03

Why are you obsessed with Bitcoin
Bitcoin aint even the hundredth best token it is simply the FIRST.
It will die a slow death.
As will most of them.

Etherium has no scaleability.
Bitcoin has had to fork to try and create some.

CARDANO on the other hand.

[chimers] 26/4/2018 23:01

FFS you truley cant educate stupid!!

RIPPLE NO MINING
EOS NO MINING
CARDANO NO MINING
STELLAR NO MINING
NEO NO MINING
IOTA NO MINING
TRON NO MINING
LISK NO MINING

THIS...............IS A VERY LONG LIST.

FREE OK COMPLETELY FREE..........NO CHARGE.
NIL COST
FREE.
GET IT
FREE.

[egrid1] 26/4/2018 23:00

Chimers26 Apr '18 - 22:40 - 2715 of 2718

"Look for me to send 1 BTC from A to B I will get charged a fraction of a fraction of a fraction of a fraction of a fraction of a fraction of a fraction etc etc of a BTC.
It is so small an amount it is not worth talking about."

Now, just remind me... that 1BTC, what is the value of that transaction?

Anywhere between $8,000 and $20,000 in recent months.

So your fraction of a fraction (which turns out to be a minimum of $0.4 but perhaps $1.50, is indeed a small ammount... but how many peopl ethat woudl be using Bango to pay for things are spending $20,000 on it (or even $8,000).

You need to get your mind around this Chimers as you are telling everyone that blockchain will wipe out Bango, and you have shown a complete lack of understanding of both business - Bango and Blockchain.

Happy gambling.

[egrid1] 26/4/2018 22:56

You keep repeating "mining is not the blockchain", without focusing on the blockchain.

These "blockchains" that you want to gamble on... how do they make money in this fee free transaction?

Chimers26 Apr '18 - 22:20 - 2707 of 2716
You can build a cryptocurrency on the Bitcoin blockchain or the Etherium blockchain.
All are simple slight variations of the original.

So, lets look at what Etherium say about fees...

"While our wallet is entirely free to use, the small fee included in your transaction goes to the miners, who help power the flow of transactions on the Ethereum network. To ensure your transactions confirm consistently and reliably, our wallet will automatically include an appropriate fee based on the level of network traffic at the time. "

Oh look Chimers... fees on Etherium... to pay the miners!



The fee free world you have been taken into just don't exist!

Ethereum’s High Fees have Become an Issue for Applications and Exchanges



So, lets get this back to Bango...

Bango typically charges a small percentage on typically small transactions probably averaging less than $10

Etherum charge anything from $0.40 to $1.00+ see chart


On a $10.00 transaction typical of that which might be charged on Bango, that works out at anything from 4% to 10%

Not really that cheap at all.. in fact, quite expensive.

[chimers] 26/4/2018 22:51

IOTA for example are right this moment building a system alongside Fujitsu and Volkswagen so that the small amount of money used in charging an electric car in the street can be paid for in IOTA Tokens as it is cheaper faster and FREE.

You plug in your Fartbox, it connects to your car and charges your car via IOTA £0.1p for the electricity used and no fees are incurred thus it is worthwhile charging and getting such a small amount in fees.
You pay only for your electricity used.
Blockchain makes this possible and makes it economic.
Thus Bango et all are OUT OF THE GAME.
Nobody needs to pay a fee to Paypal or Visa or Mastercard or BANGO ever again.

ITS HISTORY.

ITS THE FUTURE.

ITS ALREADY HAPPENING.

[chimers] 26/4/2018 22:45

RIPPLE
ETHERIUM
STELLAR LUMENS
EOS
CARDANO
NEO
TRON
MONERO

Choose yer shovel............most you cant mine.

For the very last time.
If I send £10 quid to Bob then BOB gets £10 quid.
POS has no fee.
I get my reward if I so wish by staking.
By staking I help maintain the network so I get paid by the network.
In free token that I can spend on the network.

[chimers] 26/4/2018 22:35

BANGO will get destroyed by this new system.
Visa and Paypal are rushing to get their own up and running or buy into one.
They are way way behind the curve.
As are all the banks.
Some will survive but only if they adopt hence Goldmans adopting.
Stellar Lumens is Goldmans for example.
Most other banks use Ripple.

[egrid1] 26/4/2018 22:34

Heres some homework for you Chimers...

"What is the blockchain fee?
The blockchain fee, also called 'miners' fee is a bitcoin transaction fee that is charged to users when performing bitcoin transactions. The fee is collected to reward miners for maintaining the Bitcoin network.

You need to pay the blockchain fee to ensure your bitcoin transfers arrive in a timely manner. The blockchain fee is one of the main tools used to speed up bitcoin transactions, which is often slow due to high congestion in the Bitcoin network. The lower the blockchain fee, the lower your transaction's priority in the Bitcoin network."



FEE? FEE?

I thought there were no fees? Lower your transaction fee and you slow down your transaction (afterall, who wants to work for nothing!)... and you pay it to reward the "miners"

Now, aren't the miners really the people keeping the ledger and creating the currency?

Have a look at the "Total Blockchain Fees" chart...



Are those numbers imaginary? All those fees haven't really been paid?

Have you really thought about this gamble of yours Chimers?

[chimers] 26/4/2018 22:33

If someone sent you £10k via paypal you would be charged a hefty fee so you would NOT HAVE £10k.
People in poor counties get chgarged vast fortunes when they send money home if they work abroad to feed their families. For £10 they lose about £3

Blockchain will enable them to send money around the globe for free.


HOW MANY TIMES.............BITCOIN IS A TOKEN IT IS NOT THE BLOCKCHAIN.

[chimers] 26/4/2018 22:30

Every transaction verifies another 2 transactions and the verifying transactions get a micro reward as a fee , so small you wont notice it.

Mining , which is completely different rewards finders of blocks with coin as a reward.
Not all coins are mineable.
MOST AINT.

Mining is not a transaction.

[nimrod22] 26/4/2018 22:30

If someone sent you £10k at Christmas via paypal, you would still have £10k.
If they sent you the equivalent in Bitcoin it would have decreased in value by about 50% so there are some minor drawbacks to consider.
The blockchain technology has many other uses such as those suggested by the shipping company Maersk.

[chimers] 26/4/2018 22:28

By the way if I told you Bitcoin will rise to $1m per single bitcoin and $500k per bitcoin is expected within the next 3 yrs would you buy one now at $8k?

Well you dont need me to tell you this, the worlds top bankers and investors inc George Soros and Goldmans already have.
More or less.
Some say such targets are very conservative.
The very first bitcoin transaction was for pizza they paid 10'000 bitcoin for 2 pizzas.
Or $91'181'600 thats $91 MILLION DOLLARS at todays current price.

You would be a complete fool not to have some exposure to the action.
Im guessing you have no exposure.

[egrid1] 26/4/2018 22:27

Chimers... with nobody paying any fees to anyone, ever (which is not true, but seems to be they way you want it to be seen)...

How the hell are you going to make money on this gamble?

The questions I posed (that you failed to answer) also still stand. My (admitted) ignorance seems so far to only be matched by yours!

[chimers] 26/4/2018 22:20

I dont gamble.
Gambling is for mugs.

Knowledge is Investing everything else is gambling.

Many cryptocurrencies will exist side by side think of them like currencies.
The Yen the Dollar the Euro.

Some countries will adopt a crypto currency as their national currency.

You can build a cryptocurrency on the Bitcoin blockchain or the Etherium blockchain.
All are simple slight variations of the original.
An ERC20 token is simply the Etherium blockchain that has been very slightly adjusted for that particular tokens pland and requirments.

Both are flawed but both can be forked to resolve issues.

However there is a 3rd.
Its the new kid on the block.
It is the one ring to rule them all.
Do your own research and it will become apparent.

[lentjes] 26/4/2018 22:08

So Chimers for the record and future reference please state which Blockchaine companies you have gambled your dosh in this time

[egrid1] 26/4/2018 21:19

"Blockchain is NOT Bitcoin lol."

No, but it is the basis on which cryptocurrencies work. It is the ledger. Though I will happily admit that I do not know the ins and outs other than from casual reading I have given the subject - enough to know that it involves tremendous computing and associated running costs.

You claimed "Blockchain can send money around the globe faster and more securely and for FREE" But that is a bit like saying that a bank statement can send money around the world fast and securely free of charge", when the statement is just a piece of paper recording the transactions.

What is the money... it is a cryptocurrency like Bitcoin!

So tell me... how does this all run for nothing? Who monitors it if not Governments (and the point is that it is not monitored by Governments)? Who pays them? From what? Who creates the currencies? How? at what cost?

[chimers] 26/4/2018 16:16

Yeah but thats the problem its always new deals and Jam Tomorrow.
They never get to profitability.
The chart doth not lie.

[simonsaid1] 26/4/2018 16:10

AAAAAANYWAY.

Last year's AGM was 24th May. I expect we'll have news then or before regarding new Google Play migrations and probably some new deals, as we've come to expect from Bango.

[egrid1] 26/4/2018 15:13

You clearly have no idea if you think that it is "free", or will ever be "free".

There needs to be a massive infrastructure for a cryptocurrency to work, and that needs to be paid for and maintained.

But as a gambler, you don't need to understand do you, you just need to be lucky.

[egrid1] 26/4/2018 11:55

"Blockchain can send money around the globe faster and more securely and for FREE"

You really beleive that blockchain is free?

There are whole warehouses of computers designated just to keep record of the transactions. Those warehouses combined require umpteen power stations to power them.

Who is doing all of this "for free"?

The reality is that they do it to create more of the "currency", currency only has a value due to scarcity, the more they produce, the less scarce it wil lbe, the lower its true value.

There will be those that make money early on - just as the early buyers of tulip bulbs did... but then one day, when no more of a particular currency can be mined, who will pay for the warehouses, machines and power to keep record of the transaction then?