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Anybody: Bitcoin/Crypto?

By CJS following x   2018 Apr 5, 12:28pm 3,724 views   138 comments   watch   nsfw   quote     share    


I'm heavy into the crypto game this year is any else?

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99   Onvacation   ignore (4)   2019 Jun 9, 3:25pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
no-coiners/bitcoin haters

Is that like a climate change denier?
100   Newbie123   ignore (0)   2019 Jun 9, 7:40pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I’d say No-coiners/Bitcoin haters are more entertaining and funny.

Regarding intrinsic value, Going forward I will provide you with a price update instead of answering your question.
101   Onvacation   ignore (4)   2019 Jun 9, 8:26pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
No-coiners/Bitcoin haters

I'm not the one holding a string of 0s and 1s and thinking they are better than gold.
102   Newbie123   ignore (0)   2019 Jun 9, 9:03pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

You might find this interesting

103   CBOEtrader   ignore (5)   2019 Jun 9, 9:04pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
Newbie123 says
No-coiners/Bitcoin haters

I'm not the one holding a string of 0s and 1s and thinking they are better than gold.


We are all guilty
104   Onvacation   ignore (4)   2019 Jun 9, 9:50pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

CBOEtrader says
We are all guilty

So true.

It's a fiat world and things have value just because someone says so; beanie babies. What are our brokerage accounts but 0s and 1s on a computer somewhere.

Bitcoin is just the ultimate example of value just because someone says so. It has no intrinsic value. It's supposed extrinsic value is as a currency and untraceable method of exchange or an "asset" that they hope will increase in value.

They even "mine" cryptocurrency.

I know some people gamble with crypto with hopes of selling before the bubble pops when people see that "big daddy" is naked. Others think it is the best thing since sllced bread.

Consider this; the amount of money in crypto exceeds the value of all known silver in the world.
The following charts were from before bitcoin crashed so now the crypto to silver ratios are lower.

105   Newbie123   ignore (0)   2019 Jun 9, 10:11pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

“They hope it will increase in value”
Bitcoin had parabolic increases since inception (ten years ago) but we have seen nothing yet.
The question is, Is bitcoin digital gold and will overtake physical gold some day? Let’s wait and see.
106   WookieMan   ignore (0)   2019 Jun 10, 4:32am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
I can tell you the current value of one bitcoin (BTC): 7600 ish.


Why didn't you include the $ sign? I mean ultimately that's the currency you'll use and why you hope the "value" of crypto goes up.

CBOEtrader says
It? Ripple can exchange anything via their infrastructure. That's the point. Their exchange network is potentially a competitive advantage that can not be replicated.


Cool. It can't be replicated..... yet they're trying to do the same thing Visa does for credit cards. Hopefully Visa doesn't find out that someone is trying to do something that has been possible for a decade or so.... They probably couldn't replicate what ripple is doing at all... From their own website (which is a treasure trove of BS)...

XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa.*

https://ripple.com/xrp/

Then there's this

My XRP was stolen. What do I do?

https://ripple.com/faq/

Just call/contact the FBI... LO fucking L. Like they'll give a flying fuck.

Newbie123 says
Exactly! Wookie has been wrong on so many levels/topics.


Name one. Then explain why it's wrong.
107   Onvacation   ignore (4)   2019 Jun 10, 6:11am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
The question is, Is bitcoin digital gold and will overtake physical gold some day?

After all, they have the same intrinsic value.
108   Newbie123   ignore (0)   2019 Jun 10, 6:41am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Interesting read. A former IBM executive believes Bitcoin will hit a 1mio dollar price per coin within the next decade. A member of PayPal’s board of director joins the prediction.

https://finance.yahoo.com/news/most-insane-1-million-beyond-193017764.html
109   WookieMan   ignore (0)   2019 Jun 10, 6:45am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
Interesting read. A former IBM executive believes Bitcoin will hit a 1mio dollar price per coin within the next decade. A member of PayPal’s board of director joins the prediction.

https://finance.yahoo.com/news/most-insane-1-million-beyond-193017764.html


You should change your name to Dodge123. Better fit...
110   CBOEtrader   ignore (5)   2019 Jun 10, 7:13am   ↑ like (0)   ↓ dislike (0)   quote   flag        

WookieMan says
Newbie123 says
Exactly! Wookie has been wrong on so many levels/topics.


Name one. Then explain why it's wrong.


This was in context of suggesting physical infrastructure and/or code are easy to replicate. They arent, not even close.

Tha doesn't make you right/wrong about Bitcoin though.

Heres what we know for sure: 1)most of the world is looking for a replacement for the dollar . 2)dollars are fiat. 3) im-fucking-possible for gold to back transactions . Doing so would effectively make gold fiat, in that 99% of it's value would be for exchange of other goods not the value of the metal. 4)cryptos are the best thing we've invented so far to replace fiat dollars.

Conclusion : I'm keeping about 20% of my investments in cryptos, mostly ripple for the infrastructure they've built.
111   WookieMan   ignore (0)   2019 Jun 10, 7:27am   ↑ like (0)   ↓ dislike (0)   quote   flag        

CBOEtrader says
4)cryptos are the best thing we've invented so far to replace fiat dollars.


I actually agree with all this. The unfortunate problem is our fiat dollar is backed by the US government. They can and WILL have a say in the crypto market at some point. And I don't imagine any regulation put in will weaken our own dollar. This is one of the many problems with crypto in my opinion.

Not you, but people are running around thinking Trump is going to be a fucking dictator. It won't ever happen. The thought that any crypto will be a viable currency to overtake the dollar, with no US interference is laughable. It's a similar line of thought.

As I've said before in other threads on this topic. Gain massive wealth if you can from it. I'm a decent guy and have no interest in seeing people suffer or lose money. If I'm wrong about my opinion, I'll be the first to admit it. But I can almost promise you, at least with Bitcoin, that if my kids live to 80 years old, it won't exist. Most of them won't.

Make money while you can with it. Trust me, I wouldn't turn down a $2M a year job if it worked out, but if I had to bet a decent chunk of my savings, count me out. As an about to be 36 year old that doesn't have to work, I think I've made some decent decisions (no family wealth/inheritance).
112   Onvacation   ignore (4)   2019 Jun 10, 7:27am   ↑ like (1)   ↓ dislike (0)   quote   flag        

CBOEtrader says
I'm keeping about 20% of my investments in cryptos,

How much physical PM in your portfolio?
113   EBGuy   ignore (0)   2019 Jun 10, 5:22pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Someone's about to Win Bigly. WHEN?
114   Newbie123   ignore (0)   2019 Jun 10, 5:30pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.
115   Hugolas_Madurez   ignore (4)   2019 Jun 10, 5:45pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

Newbie123 says
You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.


Show us your fucking strategy via screenshots of your trades and holdings.
116   WookieMan   ignore (0)   2019 Jun 10, 7:03pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Hugolas_Madurez says
Newbie123 says
You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.


Show us your fucking strategy via screenshots of your trades and holdings.


Pretty sure it's a bit at this point. It's not trolling, as usually a good troll will come at you with some sort of fact or something even if it's wrong. That's not the case here. I'm not sure why I've wasted so much time on this thread... Oh well, mistakes happen. The red flag is when some moron says "to the moon" and then it's an exercise in retardation. He's dodged every single question asked of him.
117   Onvacation   ignore (4)   2019 Jun 10, 8:14pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

WookieMan says
I'm not sure why I've wasted so much time on this thread..

You can't waste time or money, but you can misuse them.

We are trying to educate the ignorant. It is one thing to gamble on cryptocurrency in hopes that it will turn a profit, but if one thinks all of the worlds governments will allow fiat bitcoin to supplant their fiat currency they are in for a surprise.

Why is crypto valued in fiat?
118   CBOEtrader   ignore (5)   2019 Jun 10, 8:58pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
CBOEtrader says
I'm keeping about 20% of my investments in cryptos,

How much physical PM in your portfolio?


About $5 k only. I don't want to deal w physical. If I had $25 million I'd probably only have $50k of physical.

Thoughts to contrary?
119   Onvacation   ignore (4)   2019 Jun 10, 10:09pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

CBOEtrader says
Thoughts to contrary?

Traditionally, 10% of your net worth should be in PM to hedge against disaster. Guns and bullets would be a good idea too.

I recognize you as smart and thoughtful. Why would you gamble with 1 out of 5 dollars of your net worth on something as ephemeral as crypto?

Are you gambling?

Do you think it will become a valid and efficient method of exchange?

FOMO?

It's the best thing since sliced bread?

As a computer scientist I just don't understand the attraction to crypto.
120   Newbie123   ignore (0)   2019 Jun 10, 10:11pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Institutional demand for bitcoin appears to be increasing

https://www.theblockcrypto.com/2019/05/13/institutional-demand-for-bitcoin-appears-to-be-increasing/

Interesting:

“Bitcoin inflows, or the amount of bitcoin added to GBTC’s holdings, have reached an all-time high in April signaling an increase in institutional demand
The GBTC premium is currently nearly 40% and has increased consistently since December, which shows a shift of the sentiment in the market”

And

“Grayscale Bitcoin Trust (GBTC), a $1.4 billion closed-end fund that invests exclusively in bitcoin, serves as perhaps the best indicator of institutional investment in bitcoin. And the data is showing an uptick in the institutional demand”


During the last bull market, retail investors were pushing the price. Now, that institutional money enters the market, it would be no surprise if bitcoin reaches new ATH’s in the forseable future. Some say, To The Mooooon.
121   Onvacation   ignore (4)   2019 Jun 10, 10:15pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
To The Mooooon

Spam. Not very sophisticated spam, but spam.
122   Newbie123   ignore (0)   2019 Jun 10, 10:18pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I had to put it at the end, couldn’t help myself :D
123   Newbie123   ignore (0)   2019 Jun 10, 10:27pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

" I just don't understand the attraction to crypto.”

I can tell. ;)
124   Newbie123   ignore (0)   2019 Jun 11, 1:41pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

https://www.zerohedge.com/news/2019-06-10/google-trends-show-bitcoin-more-popular-donald-trump-tesla-and-kim-kardashian

Bitcoin more popular on google trends than trump, Tesla and Kim Kardashian! I am not surprised. Bitcoin is much more exciting than all those three combined :)
125   HonkpilledMaster   ignore (5)   2019 Jun 11, 3:48pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bitcoin is becoming the new "Gold to $20k/HAARP/Bigfoot" Crankery "Tell".
126   Onvacation   ignore (4)   2019 Jun 11, 4:13pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
Bitcoin more popular on google trends than trump, Tesla and Kim Kardashian! I am not surprised. Bitcoin is much more exciting than all those three combined :)

Or maybe a bunch of bitcoin cucks keep checking for the moonshot.

How long since you last checked the price?
127   Newbie123   ignore (0)   2019 Jun 11, 4:15pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I’d say 50k within the next two years. Bitcoin def has some advantages over gold.



Would you rather have 1mio US dollar worth of gold or 1mio US dollar worth of bitcoin at the moment? Obviously you want the bitcoins. bitcoin can be stored on a hardware wallet (you are your own bank), can be sent anywhere in the world within seconds and can’t be seized (as long as YOU hold the private keys-hardware wallet). The icing on the cake: Bitcoin has the potential to pull a 5-10x within the next few years. Try that with gold. plus it sounds much cooler to hold bitcoin (digital gold), doesn’t it? :) :)
128   Onvacation   ignore (4)   2019 Jun 11, 4:17pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says

Would you rather have 1mio US dollar worth of gold or 1mio US dollar worth of bitcoin at the moment?

I will take the metal. You can keep your 0s and 1s.
129   Newbie123   ignore (0)   2019 Jun 11, 4:18pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

No reason for me to check the price frequently, if it drops to a certain level my new buy orders get filled. If it goes up. Cool. I get wealthier on paper (eh hardwarewallet). I won’t sell until we hit certain targets. That might be 2 years away.
130   Onvacation   ignore (4)   2019 Jun 11, 4:19pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
Bitcoin has the potential to pull a 5-10x within the next few years. Try that with gold.

Which one is more likely to go to zero?

Oh yeah, you don't answer questions.
131   Newbie123   ignore (0)   2019 Jun 11, 6:00pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

“Likely to go to zero”

Rofl!! You just keep praying, hoping and wishing bitcoin will go away(zero). On the next significant pull back you will unpack the cheerleader gear and worship the pull back just to be disappointed once again when it goes back up. Sounds fun. For owners of bitcoins.
132   Onvacation   ignore (4)   2019 Jun 11, 6:15pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Newbie123 says
Rofl!! You just keep praying, hoping and wishing bitcoin will go away(zero).

What makes you think that?

No one ever underestimated the ignorance of the public.

So
Onvacation says
Newbie123 says
Bitcoin has the potential to pull a 5-10x within the next few years. Try that with gold.

Which one is more likely to go to zero?

What do you think? Is gold more likely to lose all value or crypto? You can answer honestly and still BELIEVE in crypto. It's more of a cult than a religion.
133   Newbie123   ignore (0)   2019 Jun 11, 7:57pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Litecoin halving coming up!

https://www.coingecko.com/en/explain/litecoin_halving

Historically that caused the price of litecoin to increase tremendously. A short term investment opportunity?
134   Onvacation   ignore (4)   2019 Jun 12, 7:48am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says

Historically that caused the price of litecoin to increase tremendously. A short term investment opportunity?

What will crypto be valued in when it replaces "fiat"?

Crypto is a ponzi scheme that requires ever greater fools to "invest" so that earlier buyers can profit. The ridiculousness of solving difficult hash problems and call it "mining" is lost on the rubes. Like tulips and beanie babies, cryptocurrencies will join the ranks of "what were they thinking?"
135   Newbie123   ignore (0)   2019 Jun 12, 8:25am   ↑ like (0)   ↓ dislike (0)   quote   flag        

We’ll look back in 20 years and laugh about people who compared bitcoin with tulips or called it a scam/ ponzi. No-coiner will be a swear word :D

During the tulip mania, did we see higher highs and higher lows after a bear market?
136   EBGuy   ignore (0)   2019 Jun 12, 12:49pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
What will crypto be valued in when it replaces "fiat"?

Gold backed cryptocurrencies are interesting, but you still have the problem of who holds the physical asset. Some sort of "distributed Fort Knox" where you have to produce the PM on demand could act as a sort of currency for global payments.
137   Newbie123   ignore (0)   2019 Jun 13, 3:55pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

The media loves to report on crypto. I am Not surprised. Crypto is exciting stuff and you have the potential to make a lot of money. Check out this article by Bloomberg:

https://www.bloomberg.com/news/articles/2019-06-13/hottest-crypto-is-up-360-this-year-and-its-name-isn-t-bitcoin?cmpid=socialflow-facebook-business&utm_medium=social&utm_content=business&utm_campaign=socialflow-organic&utm_source=facebook

Litecoin is up 360% this year. Try that with boring, traditional investments like ..... all of them ;)
138   Newbie123   ignore (0)   2019 Jun 18, 5:23pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Looks like crypto investors are able to buy in big soon. What will it do to the price if “Bakkt” is up and running? Moon party soon?

https://www.newsbtc.com/2019/06/13/bakkt-clearing-the-way-for-institutional-investors-pouring-into-bitcoin-this-summer/

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