Bitcoin

[jlt73 160]

On 11/29/2017 at 12:43 AM, IPv6Freely said:

Hope you’re enjoying this ;)

I know we are really enjoying this!

[Cosmic 178]

Be careful guys. I mean if you are just in $2K and are not at risk of defaulting on the old mortgage, then you know that you will be fine. But, just a concern(s), from a guy who loves Bitcoin/Litecoin/crypto:

Bitfinxed has a theory on how the price has made this record move:

https://twitter.com/bitfinexed

Do I have a moral issue, as a Bitcoin holder? HELL NO! I will take my profits any way I can get them. However, if this is a pump and dump, to synchronize with the pending opening of CME/CBOE/NADSAQ non-Bitcoin settled futures markets, then we can potentially go back down as fast as we went up. How low will we go? I suspect not too low, as I understand that billionaires are waiting on the sidelines for the next dip. Is my intel reliable? Absolutely not! So, the floor is the limit, but I will certainly be buying if we go way down, as I know may other fellow non-billionaires will also be doing.

Edited December 8, 2017 by Cosmic

[IPv6Freely 2092]

7 minutes ago, Cosmic said:

Be careful guys. I mean if you are just in $2K and are not at risk of defaulting on the old mortgage, then you know that you will be fine. But, just a concern(s), from a guy who loves Bitcoin/Litecoin/crypto:

Bitfinxed has a theory on how the price has made this record move:

https://twitter.com/bitfinexed

Do I have a moral issue, as a Bitcoin holder? HELL NO! I will take my profits any way I can get them. However, if this is a pump and dump, to synchronize with the pending opening of CME/CBOE/NADSAQ non-Bitcoin settled futures markets, then we can potentially go back down as fast as we went up. How low will we go? I suspect not too low, as I understand that billionaires are waiting on the sidelines for the next dip. Is my intel reliable? Absolutely not! So, the floor is the limit, but I will certainly be buying if we go way down, as I know may other fellow non-billionaires will also be doing.

Yeah I don't have enough in it to worry about. I've put in about $2200 all told and its sitting at about $5900 right now. I think what I'm actually going to do is pull my original $2000 out and just play with house money. 

[Cosmic 178]

Yea it is easier to watch the "pullbacks" when only in with house money.

[jlt73 160]

same boat here!  I didn't put in anything that I wasn't ok with losing.  I'm taking out my initial investment and playing with house money.  So whatever it does at this point I'm good.

[Playmakersedge 58]

On 5/27/2017 at 2:19 AM, Cosmic said:

PS- I was thinking further on that response that I wrote. Another (favorable) scenario for BitCoin, that is less "radical" than my skeptical and distrustful thinking on the established institutions is this:

If the Winklevoss brothers get their ETF, and the guys who make the investment retirement portfolios (or whatever you call them- 401Ks, Roth IRAs) for Americans who do not want to be bothered to select their assets in their portfolio, then I would imagine that the portfolio managers may throw some Bitcoins into the folk whose retirement goal is 5-20 years out. That drives the demand and price up of Bitcoin and gives it some traction amongst the mainstream. So yea, I do not really care one way or another if the system fails. I just abundance of wealth to be requirement for living on this planet, and see more scenarios where Bitcoin facilitates this. Again, this is not financial advice, just speculation, from a speculative, impulsive guy who does not want to give advice (and just appreciates hearing himself think, through this medium which is our Forum). 

Sounds fascinating.   I have to find information that is visual . Graph or out line format or listen about it.

[Cosmic 178]

On 12/10/2017 at 12:28 PM, Playmakersedge said:

Sounds fascinating.   I have to find information that is visual . Graph or out line format or listen about it.

I enjoy the Bitcoin Morning Brief on YouTube with Jimmy Song and Tone Vays. I used to like World Crypto Network (where I first discovered these guys), but since these guys seem to have left WCN, WCN is not really the same as I thought that Jimmy and Tone carried the conversation. There is a lot of misinformation about Bitcoin all over the place, and people talking about the stuff who do not really understand it. I like YouTuber Crypto Daily also. He is more of a comedian, but I am yet to find him peddling information that is obviously wrong or misleading. 

There are plenty of other shows, but too many are just sharing their opinions on why what they invested in (Ethereum, Bitcoin Cash, etc.) is "great and here's why you should too!." That type of talk just irritates me to no end. 

[Playmakersedge 58]

58 minutes ago, Cosmic said:

I enjoy the Bitcoin Morning Brief on YouTube with Jimmy Song and Tone Vays. I used to like World Crypto Network (where I first discovered these guys), but since these guys seem to have left WCN, WCN is not really the same as I thought that Jimmy and Tone carried the conversation. There is a lot of misinformation about Bitcoin all over the place, and people talking about the stuff who do not really understand it. I like YouTuber Crypto Daily also. He is more of a comedian, but I am yet to find him peddling information that is obviously wrong or misleading. 

There are plenty of other shows, but too many are just sharing their opinions on why what they invested in (Ethereum, Bitcoin Cash, etc.) is "great and here's why you should too!." That type of talk just irritates me to no end. 

I don't blame you .. I am severely dyslexic.  Anything with distinct importance I try to listen about. And hear information then stew on it pondering who's information has logic and who is just showing off with a thimble full of information .   When I had my auto repair shop, I parlayed with buying private owner used cars ,so my customer gave me . I would put my money into inventory and trying to ge lots of exotic auto wor. . But I never did stocks ,not even 401 k because of the reading so I did things my own little way .

[Playmakersedge 58]

The bit coin ,if I understand it correctly is like  a bartering aggreamt . You do for Fred he pays you in bit coin.   Then this ether currency can be used on other goods and services, or let it sit and become stronger? Where does the  the increase of value come from?  Hoo is the gate keeper of bit coin     ?  It' fn genius at its origin ; some one put a number of bit coin in a file and then used it to buy goods or services. How much he was able to  get for x amount of bit coin established a value  for the currency that is pretty much  there in theory.  And there is no tax on bit coin.???? Am I on the right track?  

What scare me the U.S . Achilles heal is the dollar  .we want more ,the government wants more.  So we have a precarious game of chicken happening.  Mean while product is be produced  and,being sold using the dollar   to vendors.,who then sell the product  and they participate with the bitcoin system.     What protections does the bit coin have  ?  Can the gate keeper say at any given time  This  all was  a social experiment.   The process can possibly put the value of the the dollar in the toilet.  For there has to be currency  to complete the cycle?  I' m just thinking out loud  , thinking this could be used too cripple the country 

[IPv6Freely 2092]

4 hours ago, Playmakersedge said:

The bit coin ,if I understand it correctly is like  a bartering aggreamt . You do for Fred he pays you in bit coin.   Then this ether currency can be used on other goods and services, or let it sit and become stronger? Where does the  the increase of value come from?  Hoo is the gate keeper of bit coin     ?  It' fn genius at its origin ; some one put a number of bit coin in a file and then used it to buy goods or services. How much he was able to  get for x amount of bit coin established a value  for the currency that is pretty much  there in theory.  And there is no tax on bit coin.???? Am I on the right track?  

What scare me the U.S . Achilles heal is the dollar  .we want more ,the government wants more.  So we have a precarious game of chicken happening.  Mean while product is be produced  and,being sold using the dollar   to vendors.,who then sell the product  and they participate with the bitcoin system.     What protections does the bit coin have  ?  Can the gate keeper say at any given time  This  all was  a social experiment.   The process can possibly put the value of the the dollar in the toilet.  For there has to be currency  to complete the cycle?  I' m just thinking out loud  , thinking this could be used too cripple the country 

There is no “gatekeeper”. 

There is a good video I posted earlier in this thread. I would recommend you watch that.

[Playmakersedge 58]

I found a documentary too. I will watch the video.   Totally get now the entire point of it is not having a gate keeper. 

[Cosmic 178]

15 hours ago, Playmakersedge said:

The process can possibly put the value of the the dollar in the toilet.  

Peter Tosh discussed this, and it has happened with other country's national currencies (Venezuela, Zimbabwe). 

 

[Playmakersedge 58]

Really cool stuff:  so to acquire bit coin.  You have to accept bit coin as payment,  purchase bit coin with standard currency,  or be a miner an be rewarded by keeping the book ? 

I'm curious about the purchase of bit coin:  big brother knows when regular currency is withdrawn: is there a tax on the front side when the bit coin is purchased with that money?    For the folks that have been in this for significant amount of time with healthy gains make bit coin loans?     If so how is the risk measured ?

[IPv6Freely 2092]

15 minutes ago, Playmakersedge said:

Really cool stuff:  so to acquire bit coin.  You have to accept bit coin as payment,  purchase bit coin with standard currency,  or be a miner an be rewarded by keeping the book ? 

I'm curious about the purchase of bit coin:  big brother knows when regular currency is withdrawn: is there a tax on the front side when the bit coin is purchased with that money?    For the folks that have been in this for significant amount of time with healthy gains make bit coin loans?     If so how is the risk measured ?

You don’t need to do any of those things to buy/sell. That’s only if you want to participate in the block chain.

No idea on taxes.

[Jamarquan 201]

Does anyone in this thread mine cryptocurrency, or are you guys reserved to just buying / selling? 

 

[IPv6Freely 2092]

20 minutes ago, Jamarquan said:

Does anyone in this thread mine cryptocurrency, or are you guys reserved to just buying / selling? 

 

Not worth the effort anymore. 

[Jamarquan 201]

1 hour ago, IPv6Freely said:

Not worth the effort anymore. 

Especially with the cost of the equipment necessary to do it - a six pack of RX 570s was selling for nearly $2000 online, meaning you have to have a pc capable of handling that much wattage (probably around 1500), not to mention the cost is electricity.

[Playmakersedge 58]

29 minutes ago, Jamarquan said:

Especially with the cost of the equipment necessary to do it - a six pack of RX 570s was selling for nearly $2000 online, meaning you have to have a pc capable of handling that much wattage (probably around 1500), not to mention the cost is electricity.

How did you do with the coach? 

[IPv6Freely 2092]

41 minutes ago, Jamarquan said:

Especially with the cost of the equipment necessary to do it - a six pack of RX 570s was selling for nearly $2000 online, meaning you have to have a pc capable of handling that much wattage (probably around 1500), not to mention the cost is electricity.

Yea the cost of power and cooling isn’t covered by the amount generated.

[IPv6Freely 2092]

12 minutes ago, Playmakersedge said:

How did you do with the coach? 

Please keep the thread on topic.

[Playmakersedge 58]

1 hour ago, IPv6Freely said:

Please keep the thread on topic.

Ok ..... ☺ dam crazy goalie 

[the_game 452]

I got in way too late on Bitcoin but still have seen a nice uptick. That being said I got in early on Ethereum and that has played out nicely.

I am no expert in any of this but from what I've read (and kinda understand) I think Ethereum will have better applications of its blockchain tech down the road versus bitcoin. Either way its been a pretty fun ride.

[Cosmic 178]

2 hours ago, the_game said:

I got in way too late on Bitcoin but still have seen a nice uptick. That being said I got in early on Ethereum and that has played out nicely.

I am no expert in any of this but from what I've read (and kinda understand) I think Ethereum will have better applications of its blockchain tech down the road versus bitcoin. Either way its been a pretty fun ride.

I could not agree less. Ethereum is a borderline s*$tcoin:

 

Yes, Ethereum has gone up in value, but why? The pump in May to early summer 2017 was due to the numerous/ abundant ICO (s*$tcoin) launches. In order to buy the ICOs, you had to buy Ethereum to get in. Even still, there are coins on the Exodus wallet that I have dabbled in (regrettably), which require Ethereum as a fee to get out of!! So scammy, sorry but this is just abhorrent.

Why the recent huge volume of trading? I actually do not know, but is it related to the CryptoKitties? Ethereum hodlers are spamming their own blockchain buying and selling virtual cats. Lame Lame Lame. 

Why does Bitcoin go up? Because people are speculating on what may be digital gold. (and some market manipulation too, perhaps?) I am fine with both. I would prefer the lack of manipulation, as I fear this to be a House of Cards/ Mountain of Dynamite, with a fuse that the rulers can light any time they want (just pump a story through the MSM), so I recouped my initial investment when I saw this, and have not looked back since.

I am not telling you what to buy, but I do think that Ethereum is pathetic and I would not touch it with your money. And how many times has it been hacked? How many times has it rolled back the Blockchain? How proud is Gavin of his visit with the CIA? (when he was the Bitcoin Chief Dev) Can ya tell I do not like Ethereum?

Now, as me about Litecoin :)))))) (I love me some Litecoin). 3x in like 5 days (from $100 to $300), and Charlie Lee says .25x of the value of BTC in 3 years or so. Right now, I think we are at .01x or so, so lots of room for growth, relative to Bitcoin. 

Not financial advice; just saying, do your homework before buying anything. Or not, it is an apparently emerging market so anyone in seems to be making $$, and that is all I really care about at the end of the day. I guess that's why I like Bitcoin/ Litecoin. Even if all they do is P2P exchange of value, if they outperform all other cryptos in terms of gains, then I want that. Smart contracts, tangles, payroll applications, DAPS, real world apps, etc. Who cares? I am just getting rich in crypto land, that's what it's about for me. And sure, facilitating humanity's movement off of a leeching fiat currency to a value adding digital currency, kind of a noble cause I suppose. To be part of this process is the bonus. But yea if you wanna get something else out of the space (aside from getting rich and liberating humanity from a depreciating/ debt based currency), then go for it. Don't let me stop ya. I have recently learned a bit about people's psychology in regard to investing, and I have no interest in evangelizing you in regard to where you send your money to get 2,3, and 4x'ed :)

 

Edited December 12, 2017 by Cosmic

[the_game 452]

Ethereum at $847, up almost $500 in the last month. I got in because I liked the tech applications of it...not hating the jump in price either, ha!

[215BroadStBullies610 435]

Volatile at best. I hope that people win more than they lose.