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Old 05-17-2018, 11:12 AM
 
Location: All Over
3,971 posts, read 4,193,378 times
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Quote:
Originally Posted by Thatsright19 View Post
The problem is, the more you studied it and knew about it, the less likely you would be to go ahead and jump in.
That's like your opinion man
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Old 05-17-2018, 11:13 AM
 
Location: All Over
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Quote:
Originally Posted by Javawood View Post
When it comes down to it, anonymous money is just a buzzword for places like my office. I can use the usd, canadian dollar, british pound, euro, yen, etc. with no foreign transaction fee via Fidelity and I believe Charles Schwab offer similar. I don't need some global currency riding on top of that. The concept of an unregulated currency is also rather pointless to me. Why would you buy something with something that fluctuates vs something that's stable? My slice of pizza is $1 be it today, yesterday, tomorrow, or 10 years ago. With the idea of crypto, it could be $1 today, $2 tomorrow, and 50 cents by next Friday. It's kinda like why we don't use gold and silver alongside the USD in America. I feel like there's a benefit to having uniformity in this regard.

And how does one guarantee adoption of a unregulated 'currency'? The dumpling and bodega places I go to ain't going to drop the USD. They don't even except credit cards. I'm not going to maintain two separate balances, and I guarantee countries will make bank on the conversion charges.

Now the underlying technology is the interesting aspect. However, I don't know enough to comment. When the concept of a blockchain first came out, I had issues with envisioning its sustainability. We'll see what happens. If Wall St enables seamless settlement times, I'll probably disable my margin account lol!
Why do people need apple pay and android pay when we have cash and credit cards? Why do people need venmo? It's simply another option for people, nobody is saying its gonna replace credit cards.
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Old 05-17-2018, 11:15 AM
 
Location: All Over
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Quote:
Originally Posted by Serious Conversation View Post
I made a fairly decent amount of money last year trading ethereum. I got out in early December, and kept what was then $100 of ethereum. That's worth $46.23 right now. I thought about reentering in the $500 range, but didn't. We're now down to $376 on Coinbase. Until there is some evidence of stabilization, I'm not going to try and catch that falling knife.
I wouldn't say were in falling knife phase, we had a quick runupp and a bit of a correction, granted the markets as a whole are down big from the manic crypto craze of December.

Ethereum actually has a lot of big news and big developments comming down the pipeline in the near future and there's a lot of talk of a flippening with Bitcoin.

I personally could see Ethereum being worth $5,000 in the next 24 months, obviously it could also be worth $50
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Old 05-17-2018, 11:17 AM
 
Location: All Over
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Quote:
Originally Posted by mathjak107 View Post
really , what would you call an investment in anything that lost 65% of its value in a few months with most of it in just weeks .?
You realize that all but the newest investors are still up thousands of percent even after a 65% correctoin right? Bitcoin fell from almost 20k to 6k, yeah that hurts, but if you bought it at $120 its still more of a return than you'll ever see off any other investment
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Old 05-17-2018, 11:21 AM
 
Location: All Over
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Quote:
Originally Posted by jrkliny View Post
Popular? I have never bought anything using crypto currency. Don't know anyone who has. Don't know any stores that will accept them. More imaginary than popular.
1. Overstock
2. Expedia
3. NewEgg
4. Shopify
5. Dish Network
6. Intuit
7. Microsoft
8. Cheap Air
9. Virgin Galactic
10. OkCupid
11. NameCheap
12. Zinga
13. Mint.Com
14.Square
15. Badoo
16. Stripe
17. Etsy

Along with a whole host of other smaller retailers.

Nobody is saying crypto is gonna replace credit cards but just because YOU don't use them doesn't mean they aren't used.

I sometimes pay utility bills in crypto, I've bought clothing with crypto, Amazon gift cards, order pizzas.
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Old 05-17-2018, 11:22 AM
 
Location: All Over
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Quote:
Originally Posted by Rocko20 View Post
Crypto is great if you got in early. That party was over two years ago
Huge gains were seen this past December that was only 5 months ago
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Old 05-17-2018, 11:23 AM
 
Location: All Over
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Quote:
Originally Posted by Yippeekayay View Post
It doesn't hold its current value (i.e., way overvalued) because the decimals are too many (research satoshis) For example, instead of 22 Million finite bitcoins, which people are buying thinking the limited number will make it valuable going forward, people can actually buy only decimals of it.

So, 22,000,000 with 1 decimal makes it 220,000,000 units; 2 decimals makes it 2,220,000,000 units and so forth. Not really uncommon is it?

Question is when will people realize this?

Of course to transact, you have to have decimals but does the volume of decimal units out there justify the price? The more the supply, the lower the price right?
That's not a big secret and it's necessary for Bitcoin to continue. Some estimate 20% of all Bitcoins have been lost forever so you need decimals so you don't run out of money.
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Old 05-29-2018, 02:26 PM
Status: "Career Changer" (set 20 hours ago)
 
1,012 posts, read 288,332 times
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I think people should read the /r/Buttcoin subreddit on reddit.
https://www.reddit.com/r/Buttcoin/
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Old 05-31-2018, 01:19 PM
 
Location: Sector 001
7,128 posts, read 5,942,160 times
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Quote:
Originally Posted by bobsell View Post
I think people should read the /r/Buttcoin subreddit on reddit.
https://www.reddit.com/r/Buttcoin/
This is no different than Ron Paul pumping gold catering to conspiracy nuts.. what reason is there for gold to be $1300/ounce? Gold bugs have been doing for 20-30 years what bitcoin pumpers have been doing for 5 years. Gold is more stable because it's a large, stable, mature, and liquid market.

Bitcoin is relatively small and illiquid by comparison. If you ignore all the other altcoins, there is a fixed supply of bitcoin, and bitcoin will always be the king.. if anything the proliferation of all these altcoins has made each one all the more worthless... if one is going to invest in crypto at all, might as well invest in the "gold" of cryptos.

I don't necessarily recommend doing that though. I'd say the average person should not invest in cryptos because too much can go wrong. You have to be somewhat tech savvy to get everything up and running. It's not an idiot proof investment with tech support that responds to your problems in 5 minutes.. try 5 days.
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Old 06-01-2018, 04:03 PM
 
Location: All Over
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Quote:
Originally Posted by stockwiz View Post
This is no different than Ron Paul pumping gold catering to conspiracy nuts.. what reason is there for gold to be $1300/ounce? Gold bugs have been doing for 20-30 years what bitcoin pumpers have been doing for 5 years. Gold is more stable because it's a large, stable, mature, and liquid market.

Bitcoin is relatively small and illiquid by comparison. If you ignore all the other altcoins, there is a fixed supply of bitcoin, and bitcoin will always be the king.. if anything the proliferation of all these altcoins has made each one all the more worthless... if one is going to invest in crypto at all, might as well invest in the "gold" of cryptos.

I don't necessarily recommend doing that though. I'd say the average person should not invest in cryptos because too much can go wrong. You have to be somewhat tech savvy to get everything up and running. It's not an idiot proof investment with tech support that responds to your problems in 5 minutes.. try 5 days.
I've been in crypto since like 2012/2013 and had an idiot moment the other day. I've for the most part been tuned out of following cryptos and just been doing DCA for the past couple months. The other day for some reason NEO popped into my head which is one of my few cryptos on a software wallet on my pc as opposed to on my Trezor. All the sudden it hit me I was having computer problems last week and wiped my PC back to factory settings. Then it set in, was I lazy and did I not create a backup file in a couple places. Spent the rest of the day wondering whether I was out a couple thousand Dollars. Got home coulnd't find the paper I printed with my private key. Wound up checking about 6 different zipdrives and it was on the last one I checked. Close call. For me I always back stuff up but organization is my problem. Defintely need to be very careful with crypto with great power and freedom comes responsibility ie there's no password reset, no bank tech support team to undo your stupid mistakes etc
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