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Post by MMAJim on Aug 10, 2017 10:19:09 GMT -5
The exercise was worth the education at the very least. That was my first cryptocurrency interaction.
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Post by Deleted on Aug 10, 2017 23:05:27 GMT -5
Curious to see how far this pullback goes.... hope it corrects a little more, then stalls for a while and allows investors to catch their breath. I would like this market to be poised to jump if a tax plan is passed
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Post by Deleted on Aug 13, 2017 11:08:04 GMT -5
To all of those who told me I'd be insane not to sell back on Tuesday..... If I was insane, I would have listened to you.
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Post by Deleted on Aug 13, 2017 13:07:57 GMT -5
https://www.reddit.com/r/ethereum/comments/6d5h4c/eli5_what_gives_ether_value/ Thoughts on Ethereum? A friend of mine is really into it. He sent me this reddit thread that a friend of his was involved in. Really breaks it down for anyone that is not up to speed on what it is. And...bitcoin. I feel this is inflated huge and IMO, I don't really know whether or not it's worth getting into at this point. I have some friends that were into it a long time ago and of course are now really stoked they held on. Bitcoin is hugely inflated because of the recent cyberattack even. Turns out the same virus that held everything for ransomware was modified previously and running an undetected botnet (still) for quite awhile mining Bitcoins and Monero at a scale never before seen. So basically the market, much like gold, now has a few people with huge quantities in hand ready to put onto the market when they want. They could cause a crash that would almost overnight bring Bitcoin values from the roughly 2k$ value it holds now to under 60$. However do to the inherent lack of protection on the supply side of digital currencies, they'll remain at its foundation riskier than just about anything else to invest in, and only get more risky as technology advances. Just wanted to put this up here.
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Post by Deleted on Aug 13, 2017 13:47:56 GMT -5
Bitcoin is hugely inflated because of the recent cyberattack even. Turns out the same virus that held everything for ransomware was modified previously and running an undetected botnet (still) for quite awhile mining Bitcoins and Monero at a scale never before seen. So basically the market, much like gold, now has a few people with huge quantities in hand ready to put onto the market when they want. They could cause a crash that would almost overnight bring Bitcoin values from the roughly 2k$ value it holds now to under 60$. However do to the inherent lack of protection on the supply side of digital currencies, they'll remain at its foundation riskier than just about anything else to invest in, and only get more risky as technology advances. Just wanted to put this up here. At this point the only thing Bitcoin has to worry about breaking is The Fed.
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Post by Angelo on Aug 13, 2017 14:19:57 GMT -5
Bitcoin is hugely inflated because of the recent cyberattack even. Turns out the same virus that held everything for ransomware was modified previously and running an undetected botnet (still) for quite awhile mining Bitcoins and Monero at a scale never before seen. So basically the market, much like gold, now has a few people with huge quantities in hand ready to put onto the market when they want. They could cause a crash that would almost overnight bring Bitcoin values from the roughly 2k$ value it holds now to under 60$. However do to the inherent lack of protection on the supply side of digital currencies, they'll remain at its foundation riskier than just about anything else to invest in, and only get more risky as technology advances. Just wanted to put this up here. It still holds true though. It is artificially inflated, in a bubble because of the actions of a few. How long till it bursts is the gamble. Just like gold, the big risk is that an overwhelming majority of the currency is held by very few, to the extent that a single person could wind up crashing the market. All that with the inherent lack of security that cryptocurrencies have, and will always have. Granted the security on them is amazing by this generation's standard (and probably +2 at least), but the fact that the fringe is so far beyond that, eventually someone who is greedy is going to be a part of that, and that will wind up collapsing it. And then of course government intervention. Nothing I said was wrong, it is just a matter of time, and when it collapses it won't be like a traditional currency where you can sell off and limit you losses on the way down, it'll just be literally worthless in a a matter of literal minutes. That makes it a riskier gamble compared to every other futures market. Now is it likely to collapse in the next few minutes? No. But the longer you hold it, the more of what is guaranteed to eventually stymie or hurt the value of it is gonna happen, even outside the potential natural decrease of demand. It's growing currently at such a rate that why not just sell off 10-15% every year, and put that into a safer long-term investment. Then when it does crash, you could wind up with being one of the biggest winners of the whole thing.
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Post by Deleted on Aug 13, 2017 16:14:27 GMT -5
No, it doesn't "hold true". It is not artificially inflated, and here is why:
The only thing that gives Bitcoin value is the demand for it. The demand for an unregulated and controlled form of currency that is not capable of being manipulated by government agencies. The only thing that determines the value of any crypto is the demand for it. Current trading volume over the last 24 hour period is 3.1 billion dollars. Even if the largest holder of the coins floods the market with a sale, at this point that dip would spark a feeding frenzy that only drives the price higher. If someone was thinking they were going to be able to game the first legitimate form of unregulated currency to exist, they are in for a rude awakening.
My Bitcoins are safer than having cash in the bank. Because I can pull all my Bitcoins with one sale order. I cannot go to the bank and remove every penny I have in there without them raising a massive stink about it.
Now, I'm confident that at no point in your life, Jackel, will going to the bank to remove excess of $1,000,000 be a problem you have. But if you did, you'd find that getting that much cash is not easy at all.
The same issue holds true when transferring Bitcoins to cash, true. But...to say "When it collapses" indicates that there's a shitton here you don't understand. Moore's law has been applied to this technological form of currency, and it has held fast.
Simple fact: Bitcoin has doubled in value every 8 months. It's not going anywhere as far as vanishing or collapsing is concerned.
And it's @ $4063 right now. I expect by tomorrow it will be well above 4,000.
Why not sell off 10-15% every year? Because gains are crucial to your financial survival and anyone trying to play the "level out" game with Bitcoin is a retard.
This is global. This is beyond the reach of any one government or financial organization (or individual) to manipulate. This is the rise of the new blood. Cashing out any of it now would be, absolutely, positively, the dumbest thing I ever did- for a whole bunch of reasons I'm not feeling like going into right now.
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Post by Deleted on Aug 31, 2017 14:40:45 GMT -5
Bitcoin, ethereum and even lite coin sure are doing well.
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Post by Deleted on Aug 31, 2017 16:09:30 GMT -5
Bitcoin, ethereum and even lite coin sure are doing well. I've had to stop looking. It's a roller coaster ride if you just keep checking the price. I've just put Faith in the idea that it is going to continue its climb and I'm trying to treat it more like a long term thing. Dumping any significant amount of it now would be kind of like trying to emulate Ron Wayne, the poor guy who was a founder of Apple and sold all of his stock in the company in 1978. For $800. And since you mentioned it I just went and looked. Jesus. Fuck. I'm going to go back to not looking.
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Post by MMAJim on Sept 6, 2017 15:36:46 GMT -5
Natural Disaster recovery and rebuilding stocks or funds? Lumber? Home remodeling related? Fasteners, paints, flooring, manufacturing types?
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Post by Deleted on Sept 6, 2017 17:28:27 GMT -5
Daywork's company taking investors?
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Post by Angelo on Sept 6, 2017 17:51:26 GMT -5
Thoughts on the rumours of Moody's being bought out?
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Post by CaveBearOG on Sept 6, 2017 18:00:22 GMT -5
Thoughts on the rumours of Moody's being bought out? For a leach you sure know a shit ton about investing.....wtf
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Post by Deleted on Sept 6, 2017 18:19:52 GMT -5
Thoughts on the rumours of Moody's being bought out? For a leach you sure know a shit ton about investing.....wtf Everyone is a pro when it comes to what someone else should do. What they would do in the situation, how to handle money, what to invest in, what not to do. Most don't have a pot to piss in let alone the means to make a move in life.
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Post by Deleted on Sept 17, 2017 13:00:19 GMT -5
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Post by Deleted on Sept 18, 2017 1:29:04 GMT -5
Equifax.
Was this hack so damaging that they wouldnt recover?
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Post by Angelo on Sept 18, 2017 2:33:55 GMT -5
Equifax. Was this hack so damaging that they wouldnt recover? It is gonna reverberate over to TransUnion and Experian since their databases are mostly the same information. Equifax alone already loss 6 billion in their market cap, expected to lose over 20 billion at least. Got over 2 dozen class actions, a federal investigation, probably 2 dozen or more state investigations, potentially investigations and fines from Canada and the UK, along with the personal records of potentially every single American, Canadian, and Britain with an active Equifax credit score taken. From phone numbers, social security number, addresses, shopping habits, driver license numbers, etc... It wasn't "143" million like they claimed. That is just the # they confirmed were copied, but there was nothing preventing the entire database of the 888-ish million they keep records on to be taken. The amount of people that are going to qualify for a new social security # which is gonna screw with credit is gonna be the largest since the great influx into WITSEC in the late 80s. Even if they make it thru this, there are gonna probably be mandated changes to the credit bureaus, and most likely cybersecurity (which is pretty much absent at the moment) legislation across the board. Who knows how much that will wind up constraining the bureaus.
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Post by Deleted on Sept 18, 2017 11:06:21 GMT -5
I froze my credit last week. My bank account has been compromised. People writing checks in Chicago, New York City, and San Francisco. I have not been to any of those towns in a while.
Shut off the ability to write electronic checks from my bank account.
5 of my credit cards have been hacked as well. I had to call each place and request that they stop allowing purchases with those cards.
I am also part of a group who is suing Equifax.
You know what they didn't get? All things stock related, and investment-related.
What is most ironic to me is that it is the "fraudulant" and "evil" Bitcoin that made it so I didn't get nearly as pissed off as I might have gotten without the BTC.
It also leads me to believe that blockchain is definitely the wave of the future regarding how money is moved. If the banks don't get on board, they will be left in the dust. People put money in the bank because it is supposed to be safer in the bank then it would be between your mattresses.
When that stops being the case, what is the big selling point in putting your money into an institution that is going to allow bad actors to simply steal it?
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Post by Deleted on Sept 23, 2017 10:59:30 GMT -5
Crypto has taken a dip. Bitcoin cash was a nice little side flow that I was expecting, but didn't think much of untIL I realized I could easily just cash that out and go purchase a piece of land...if I was so inclined to do so.
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Post by Deleted on Oct 2, 2017 10:30:01 GMT -5
90% of my stocks were up as of this morning. Very nice.
Bitcoin spiking again. I have a feeling ethereum is going to spike as well very soon.
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Post by Deleted on Oct 8, 2017 16:29:59 GMT -5
Ethereum is due for a spike. I just bought a thousand of those things this morning.
Bitcoin is going to be surging as well. The realization that it can continue on just fine without China's involvement was a powerful one. To the point that China realized they'd be fucking stupid to completely kick the crypto out of their country. So now they're licensing exchanges through the government.
I'm seeing a lot of parallels here to the tech boom of the late 90s. Right now, the reigns are slack and the horses are running wild.
Of course it is a bit different, because not every single crypto is taking off and getting massive amounts of investment. But the big players in the game are definitely here to stay.
Bitcoin still has a lot of growth to experience as well. Despite the fact that it is the largest cryptocurrency in the world, it still currently has nowhere near the market value of even a country like fecking Lithuania's National currency.
I see Central Bankers shaking in their fucking boots. I see a form of currency that is how money should have always been.
And I also see a ton of people who are going to be left behind because they are listening to the mouthpieces of the central bankers.
Google. Facebook. Bitcoin. Marijuana legalization.
I called all four of them. And the last two are going to take me from comfortable, to .01% territory.
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Post by Deleted on Oct 12, 2017 15:26:48 GMT -5
Bitcoin is making me very happy right now.
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Post by Deleted on Oct 12, 2017 16:11:50 GMT -5
It's annoying me at this point. Everyone and their mom keeps telling me to "sell half". They simply do. not. get. it. They cannot wrap their brains around where this is going.
It would not surprise me in the least bit if we hit 10K by April.
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Post by Deleted on Oct 12, 2017 16:31:03 GMT -5
Do any of these people advising you to sell actually have any investment in bitcoin?
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Post by ocmmafan on Oct 12, 2017 16:49:44 GMT -5
Trump's tax plan and the potential removal of tax as a write off will have dramatic results on real estate investors. At least in California.
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Post by Deleted on Oct 12, 2017 17:05:35 GMT -5
How close is that to happening? I feel like that will give major blow back.
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Post by Angelo on Oct 12, 2017 17:49:37 GMT -5
How close is that to happening? I feel like that will give major blow back. Never gonna happen, it'll kill the tax plan. You'll have every Senator and Congressman of both parties in NY, CA, DC, NJ, Oregon and Minnesota rallying against it.
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Post by Angelo on Oct 12, 2017 18:05:45 GMT -5
It's annoying me at this point. Everyone and their mom keeps telling me to "sell half". They simply do. not. get. it. They cannot wrap their brains around where this is going. It would not surprise me in the least bit if we hit 10K by April. I think the nerves some people have is because of how thin the ice beneath Bitcoins is. I think the most practical way to describe it, is that bitcoins are a Lamborghini. Superior in so many ways when it is driving, but if you get a flat tire, you can't drive anywhere on it because of how low to the ground it is. Most other cars and limp and grind along. To put it into real-market example. The Hunt brothers back in 79'-80' illegally manipulated the silver market resulting in a 700% spike followed by a massive dump, over 50% drop. Now since that is based on actual limited goods, the market was able to correct itself and recover. However... If (rather when since it is limited tech based) it finally takes a collapse from manipulation of the currency unit itself, it has no way to recover. Now when will that happen? it could be happening right now, it could happen 100 years from now, but it'll happen.
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Post by Deleted on Oct 12, 2017 18:23:56 GMT -5
How close is that to happening? I feel like that will give major blow back. Never gonna happen, it'll kill the tax plan. You'll have every Senator and Congressman of both parties in NY, CA, DC, NJ, Oregon and Minnesota rallying against it. Given your track record with shit like this I am now actually a little worried.
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Post by Deleted on Oct 12, 2017 18:37:18 GMT -5
Do any of these people advising you to sell actually have any investment in bitcoin? Nope. They are all stock market paradigm people. They see a line shoot up, they go into sell mode. This is not the same thing. At all. The friends I have who have serious dough have all jumped in. One of them even has his kids buying crypto now. He saw my sheet and his eyes popped out of his head. His son, a finance kid, is quite excited. I don't even check the price much anymore because these guys text me every time it moves big. $5340+ last I heard.
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