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Post by Deleted on Oct 12, 2017 18:43:42 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. Dude. I think you need to recognize a serious trend. And that Trend goes like this. If I am involved in something that is going to make me a shit ton of money, I know more about it than you do. Can you tell me how many Bitcoins are in existence right now? Can you tell me how many are going to be the final number and when we will reach that final number? You need to understand that the people who set this shit up did it so that it could be 100% legitimate. And by legitimate I mean blow the doors off fiat currency. When you have a currency that is based on nothing but the demand for the currency, you have effectively established a gold standard. Which is why Bitcoin is now worth more than gold. It is the new gold standard. It is the thing that will be taking us into the next century. It is not going to fail, manipulating it is so much more difficult than anything George Soros did with real cash, and quite frankly your analysis is seriously lacking in a fundamental understanding of how this shit works. Even China pulling out did not even register a 50% drop. This shit is here to stay. Governments can talk about regulating it as much as they want. If the market is not going to allow it, the government can't do a fucking thing about it. The internet caught the record industry by surprise. It caught the movie industry by surprise. And it has caught the central Bankers in the same fashion. Which is why all of them are now attempting to establish their own blockchains. But it's too little, too late.
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Post by ocmmafan on Oct 12, 2017 18:57:50 GMT -5
How close is that to happening? I feel like that will give major blow back. Has me concerned. They recognize the impact it will have in extremely high tax states like California and NY, but I have yet to hear any politician make a valid argument about WHY the Fed should subsidize NY, CA, NJ, etc. One argument will be the burden of paying taxes falls on California and NY as these states pay far, far more than others, but we will see if that argument holds water across the country. If his tax plan benefits the majority then we might get fucked. Take a look at the video and see what you think (video won't allow me to insert so have to watch from link). Have to love the liberal spin that this will "hit democrats hardest". LOL. Bunch of people like Jackel that don't pay federal income taxe want to complain they will be hit the hardest? GTFO www.cnbc.com/2017/10/12/mnuchin-backs-key-provision-in-trump-tax-plan-that-would-hit-democrats-hardest.html\ www.cnbc.com/video/2017/10/12/treasurys-steve-mnuchin-were-sensitive-to-needs-of-high-tax-states.html
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Post by Angelo on Oct 12, 2017 19:53:57 GMT -5
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. Dude. I think you need to recognize a serious trend. And that Trend goes like this. If I am involved in something that is going to make me a shit ton of money, I know more about it than you do. Can you tell me how many Bitcoins are in existence right now? Can you tell me how many are going to be the final number and when we will reach that final number? You need to understand that the people who set this shit up did it so that it could be 100% legitimate. And by legitimate I mean blow the doors off fiat currency. When you have a currency that is based on nothing but the demand for the currency, you have effectively established a gold standard. Which is why Bitcoin is now worth more than gold. It is the new gold standard. It is the thing that will be taking us into the next century. It is not going to fail, manipulating it is so much more difficult than anything George Soros did with real cash, and quite frankly your analysis is seriously lacking in a fundamental understanding of how this shit works. Even China pulling out did not even register a 50% drop. This shit is here to stay. Governments can talk about regulating it as much as they want. If the market is not going to allow it, the government can't do a fucking thing about it. The internet caught the record industry by surprise. It caught the movie industry by surprise. And it has caught the central Bankers in the same fashion. Which is why all of them are now attempting to establish their own blockchains. But it's too little, too late. I know it's a trend, and a serious one at that. I used to use them in 09' and 10', they died out for awhile so I gave them away (which I now regret), and when they came back into favor I wish I could have afforded to get into it. I used my last one at a coffee shop as a tip. That said I don't care if I have a fraction of a bitcoin or a million bitcoins, I'd be worried in the back of my head because of the potential ways for the currency to be permanently manipulated. The plus side to most currency is that manipulation can be adjusted for, however if all of a sudden technology became available that allowed anyone to print legit US currency, there is no coming back from that for the USD. Yes, Bitcoin is designed to be secure, have a finite amount, grow at specific rates... however all of that can be manipulated by a hacker eventually. That isn't even counting the amount of ways there are to steal someone's wallet (even from an air-gapped PC/USB key now). That said, while I have no doubt the bitcoins will have a permanent collapse due to the eventual corruption of the currency generation itself, if I had a million dollars, I'd sink about 900k of that into Bitcoins immediately. I'd be shocked if it doesn't break 6,500 within a year and when the crackdown on the Russian laundering thru gaming microtransactions gets reigned in, it just gonna go up even more, I'd expect at least 7.2-7.5k.
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Post by Deleted on Oct 12, 2017 20:08:51 GMT -5
I don't even know how to buy bitcoin, lol.
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Post by ocmmafan on Oct 12, 2017 20:17:17 GMT -5
I don't know anything about Bitcoin. Seems like a pain in the ass to get an internet wallet, buy and convert money into bitcoin and then use it. That said.....and I think I mentioned this before: if you are an online gambler, which is a multi-billion dollar gigantic market, bitcoin is the way to go. It's basically the fastest and easiest way to deposit money and withdraw money as US credit card companies block almost any gambling transaction. You cant use Western Union to wire money like you could 10 or even 5 years ago because of all the international fraud. People are going to continue to gamble and Bitcoin will be the primary vehicle within the next few years. When I pull money out I have to wait for a check (and pay a fee), give all my banking info for them to wire (and pay a fee) or can use bitcoin (no charge). I have been gambling online since the invention of the internet and today the USA banks and fed make it impossible to open up accounts. With bitcoin no one can stop the transactions.
I think there could be money to be made with an easy tool for starting up a bitcoin account. I know tons of gamblers that feel the same way about it - it's a pain the ass.
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Post by Angelo on Oct 12, 2017 20:32:31 GMT -5
I don't know anything about Bitcoin. Seems like a pain in the ass to get an internet wallet, buy and convert money into bitcoin and then use it. That said.....and I think I mentioned this before: if you are an online gambler, which is a multi-billion dollar gigantic market, bitcoin is the way to go. It's basically the fastest and easiest way to deposit money and withdraw money as US credit card companies block almost any gambling transaction. You cant use Western Union to wire money like you could 10 or even 5 years ago because of all the international fraud. People are going to continue to gamble and Bitcoin will be the primary vehicle within the next few years. When I pull money out I have to wait for a check (and pay a fee), give all my banking info for them to wire (and pay a fee) or can use bitcoin (no charge). I have been gambling online since the invention of the internet and today the USA banks and fed make it impossible to open up accounts. With bitcoin no one can stop the transactions. I think there could be money to be made with an easy tool for starting up a bitcoin account. I know tons of gamblers that feel the same way about it - it's a pain the ass. There is an app to turn your spare change into bitcoin now. Basically when you make a purchase, it'll round up to the nearest dollar and take that rounding cents and exchange it for bitcoin for you.
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Post by ocmmafan on Oct 12, 2017 21:03:20 GMT -5
I don't know anything about Bitcoin. Seems like a pain in the ass to get an internet wallet, buy and convert money into bitcoin and then use it. That said.....and I think I mentioned this before: if you are an online gambler, which is a multi-billion dollar gigantic market, bitcoin is the way to go. It's basically the fastest and easiest way to deposit money and withdraw money as US credit card companies block almost any gambling transaction. You cant use Western Union to wire money like you could 10 or even 5 years ago because of all the international fraud. People are going to continue to gamble and Bitcoin will be the primary vehicle within the next few years. When I pull money out I have to wait for a check (and pay a fee), give all my banking info for them to wire (and pay a fee) or can use bitcoin (no charge). I have been gambling online since the invention of the internet and today the USA banks and fed make it impossible to open up accounts. With bitcoin no one can stop the transactions. I think there could be money to be made with an easy tool for starting up a bitcoin account. I know tons of gamblers that feel the same way about it - it's a pain the ass. There is an app to turn your spare change into bitcoin now. Basically when you make a purchase, it'll round up to the nearest dollar and take that rounding cents and exchange it for bitcoin for you. And can you then spend the bitcoin easily? Whats the app?
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Post by ToNoAvail on Oct 12, 2017 21:42:01 GMT -5
Yeah i looked into bitcoin as an option for like 5 minutes for making overseas purchases then gave up. I'm sure it's simple once you've done it a few times, but the initial setup seemed like a major pain in the ass and my interest quickly waned.
I'm sure it has its functional benifits but the conversion rate per dollar alone was a turn off. Seemed unnecessary but again I'm sure there's a reason, I just haven't given it a proper shit to find out.
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Post by Angelo on Oct 12, 2017 21:45:16 GMT -5
There is an app to turn your spare change into bitcoin now. Basically when you make a purchase, it'll round up to the nearest dollar and take that rounding cents and exchange it for bitcoin for you. And can you then spend the bitcoin easily? Whats the app? Dust, Coinflash, and I think there one or two more out there. As for spending them easily, that depends on what you mean. Converting to cash? Most exchanges will transfer the cash to your paypal account, some can link directly to your bank account, and various other non-bank accounts, and then you spend as you see fit. As for spending the bitcoins themselves, that depends on the service. In general though for now it best to just treat them as an investment and if you really need some cash then exchange them. The only reason to really spend them on anything as they are, would be for illicit purposes.
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Post by Deleted on Oct 13, 2017 9:32:58 GMT -5
You can listen to the guy who got rid of all of his Bitcoins when they were still worth less than $1 a piece, or the guy who has a little more than two thousand of them and only sold enough to buy a helicopter, then recouped every coin he spent on that helicopter in the last dip.
There is no realistic way to manipulate this currency. Hacking into the Bitcoin system is on the level of hacking into the NSA. Can it be done? Sure. Are you going to have to be the best in the world to do it? Absolutely.
Considering that we are slated to continue mining until after 2114, any collapse that occurs will likely happen after all of us and most of our kids are dead. But only then will Bitcoin be at 21 million Bitcoins in existence. That is when manipulation could likely begin on a more Grand scale. I'm sure we'll solve that problem between here and there.
Buying Bitcoins is very simple. It's just a matter of setting up a wallet with an exchange. I started with coinbase. If your bank will allow it, you can link your wallet right to your legit bank account.
The biggest threat I see with regards to bitcoin is it becoming the One World Currency. Nothing to do with a collapse and everything to do with the manipulation that can occur once the final Bitcoins have been mined.
The good news is that cryptocurrencies are popping up like dandelions, and if one goes down two more will pop up. Even if the one that goes down is Bitcoin.
Until the global apocalypse when networks would crash, this is going to be the new money. The only thing that's bringing the gold standard back is a global apocalypse.
Making purchases with Bitcoins themselves is also not very difficult. You just have to know the right people to try and buy stuff from. There are directories online that will show you Merchants who are willing to play ball with this currency. You can see exactly who I bought my helicopter from on this list.
Technically, they transferred my Bitcoins into a cash account before signing the helicopter ownership over to me. But, there are legitimate purchases that can be made with this currency.
And I can't believe you got rid of all of your Bitcoins. You've done a lot of very dumb things buddy. That might be at the top of the list.
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Post by Deleted on Oct 13, 2017 12:33:50 GMT -5
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Post by Deleted on Oct 13, 2017 13:37:21 GMT -5
How close is that to happening? I feel like that will give major blow back. Has me concerned. They recognize the impact it will have in extremely high tax states like California and NY, but I have yet to hear any politician make a valid argument about WHY the Fed should subsidize NY, CA, NJ, etc. One argument will be the burden of paying taxes falls on California and NY as these states pay far, far more than others, but we will see if that argument holds water across the country. If his tax plan benefits the majority then we might get fucked. Take a look at the video and see what you think (video won't allow me to insert so have to watch from link). Have to love the liberal spin that this will "hit democrats hardest". LOL. Bunch of people like Jackel that don't pay federal income taxe want to complain they will be hit the hardest? GTFO www.cnbc.com/2017/10/12/mnuchin-backs-key-provision-in-trump-tax-plan-that-would-hit-democrats-hardest.html\ www.cnbc.com/video/2017/10/12/treasurys-steve-mnuchin-were-sensitive-to-needs-of-high-tax-states.htmlMakes my stomach drop a bit. That's a game changer for sure. Not too happy about this. The "democrats get hit the hardest" is laughable at best.
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Post by Deleted on Oct 14, 2017 8:10:21 GMT -5
I read that yesterday. Those will quite easily be the most complicated debit card purchases in the whole wide world. The money has to come out of your wallet, taxes on that have to be paid, and then the merchant gets paid. That is several more steps than the current debit card process. The current debit card process does not involve paying any taxes directly to the government. I think this is a fantastic idea. But I also think it is going to have some serious flaws in its implementation. Definitely worth keeping a very close eye on though. You just don't want to get nailed for tax evasion because you did your grocery shopping with your Bitcoins.
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Post by Deleted on Oct 15, 2017 16:04:45 GMT -5
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Post by Deleted on Oct 17, 2017 14:22:51 GMT -5
There is a fork coming for bitcoin, 2 of them actually. Segwitz2x in November is one that most seem to be most concerned about. When this happens with bitcoin, it tends to drop a bit leading up to it.
So if any of you guy's have been eyeballing bitcoin, I'd recommend getting your accounts set up. Have money ready, find the low you would feel most comfortable purchasing at and see if it dips into your range.
In other news, Johnson and Johnson has been jumping up a bit. Makes that green number to the right of the screen look oh so nice.
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Post by Angelo on Oct 17, 2017 15:57:43 GMT -5
In other news, Johnson and Johnson has been jumping up a bit. Makes that green number to the right of the screen look oh so nice. Probably a knee-jerk reaction to the ovarian cancer lawsuit, appeals court in Missouri overturned one of the verdicts (though it is looking like the Missouri Supreme Court will uphold the original).
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Post by Deleted on Oct 17, 2017 16:05:54 GMT -5
Or perhaps because they have been releasing very successful hiv medication.
Perhaps it is both.
Didn't we already have a chat about you posting in the investing thread? In case your forgot, it's frowned upon.
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Post by Angelo on Oct 17, 2017 16:33:44 GMT -5
Or perhaps because they have been releasing very successful hiv medication. Perhaps it is both. Didn't we already have a chat about you posting in the investing thread? In case your forgot, it's frowned upon. That's old news though, I was just saying for the recent bump. If you think that HIV vaccine is only just affecting their price, well ha..
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Post by Deleted on Oct 17, 2017 17:22:16 GMT -5
Some decisions in China this week should also have a bearing on crytpo. Jackal will explain why.
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Post by Deleted on Oct 24, 2017 8:29:31 GMT -5
METRONOME COIN!!!
Google that shit. This one could be pretty huge, and it's your chance to get ground floor access to a crypto that has similar potential to Bitcoin itself. But it could actually get BIGGER because of it's utility and ability to JUMP BLOCKCHAINS! This shit can be traded on Ethereum's network AND Bitcoin's. AND IT HAS NOT EVEN GONE LIVE YET.
This is the kind of innovation that happens when you leave the private sector alone to innovate free from government regulatory bullshit. Blockchain is absolutely revolutionizing currency. It is a positive disrupting technology that is only going to grow. If you buy Metronome early like I did with Bitcoin and let it sit for six years- entirely possible you come back to find your wallet has millions and millions of dollars in it.
Get in there and don't be a pussy.
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Post by Baph on Oct 24, 2017 10:14:41 GMT -5
My god, the Dow is through the fucking roof. Why is this not a story? Up another 200 pts today, sitting at 23,455. Unreal.
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Post by Deleted on Oct 26, 2017 10:07:39 GMT -5
Bitcoin just refuses to stay down.
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Post by Deleted on Oct 26, 2017 11:46:51 GMT -5
Bitcoin just refuses to stay down. Once the market figured out that even China couldn't squash it, I think it was pretty safe to say that this sucker is just going to keep going up. Fully expect to hit 10K by April. This last decline resulted in a rebound that increased the crypto Market to 175 billion, and an OVERNIGHT increase of 5 billion. As well as the stock market is doing, it's just not even close to this level.
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Post by Angelo on Oct 26, 2017 18:01:25 GMT -5
Expect Equifax stock to take another hit as it has come out that they new about the vulnerability that was exploited, and given a chance to fix it before the hack and decided not to.
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Post by Deleted on Oct 26, 2017 20:35:49 GMT -5
I was trying to research how to get into bitcoin but my head started hurting and I gave up.
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Post by Deleted on Oct 26, 2017 20:42:47 GMT -5
METRONOME COIN!!! Google that shit. This one could be pretty huge, and it's your chance to get ground floor access to a crypto that has similar potential to Bitcoin itself. But it could actually get BIGGER because of it's utility and ability to JUMP BLOCKCHAINS! This shit can be traded on Ethereum's network AND Bitcoin's. AND IT HAS NOT EVEN GONE LIVE YET. This is the kind of innovation that happens when you leave the private sector alone to innovate free from government regulatory bullshit. Blockchain is absolutely revolutionizing currency. It is a positive disrupting technology that is only going to grow. If you buy Metronome early like I did with Bitcoin and let it sit for six years- entirely possible you come back to find your wallet has millions and millions of dollars in it. Get in there and don't be a pussy. How do you do it? I read it goes live in December a d there would be an auction. I could drop a grand or two.
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Post by Deleted on Oct 28, 2017 12:13:42 GMT -5
I'm still waiting on learning more about purchasing metronome. I'm not sure how that's going to work at all. I just hope that the initial auction doesn't set the price point too high or it's going to be dead in the water. But I don't expect that to happen. I'm not planning on getting in on the auction, I'm just probably going to buy some after the price has been set. Probably go through the Bitcoin Network to make the first purchase and then go through etherium for the second to see which one is faster.
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Post by Deleted on Nov 1, 2017 14:29:03 GMT -5
Bitcoin making the reach to 7k
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Post by Deleted on Nov 2, 2017 9:11:20 GMT -5
Wasn't much of a reach. It'll hit 8 within the next two weeks. 10 is possible before the year ends.
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Post by Deleted on Nov 2, 2017 10:34:57 GMT -5
Bit coin is gonna drop right after the fork imo. It's surging becausee people want in before the fork so they can get the 2nd coin.
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