patrick.net

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?"

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.

Newbie123 says

crypto is just a greater fools game and ponzi/pyramid scheme?

Bitcoin and the other cryptos are the ponzi. A bunch of companies jumping on the crypto fad is a sign of the times.

I repeat, bitcoin is just a sequence of 0s and 1s stored in a special storage device which some "Miners" created by solving complicated math problems using large amounts of computing and electrical power.

People claim to trade "fiat" for Bitcoin because it is the "Currency of the future" but to spend it they have to convert it back into fiat. Fiat money by definition is inconvertible paper money made legal tender by a government decree. Bitcoin is not fiat because it has no government backing and no protection from thieves and conmen.

And please don't tell us again of the decentralized nature making it above national law. You paid your taxes on your bitcoin earnings; right?

Others hold bitcoin waiting for the "moonshot". They plan on throwing off a couple coins for a new lexus when it goes to 50k but otherwise they will continue to buy and HODL(Hold On for Dear Life) until they can retire in splendor on their earnings.

Then we have the gamblers. They hold a little (or a lot) hoping to get out when they make their fortune or break even for those that invested in the top.

Big Daddy got no clothes. All holders cashed in for fiat and expect to cash out for more fiat.

Its an expensive gamble that does have some benefits to society. There is a brilliant hacker who right now is probably exploiting security holes in wallets and the open source code. hardware engineers are making faster machines that can crunch more numbers. The cryptocraze has advanced the art of computing.

We, or at least me and my mouse have pretty much given up on you being educated.

Again, good luck. HODLing may kill you.

Onvacation says

People claim to trade "fiat" for Bitcoin because it is the "Currency of the future" but to spend it they have to convert it back into fiat.

XRP never turns into dollars. commodities and other tradable products will transact via XRP entirely within it's instantaneous trading network.

This is a vast improvement over how money, stocks, or anything else is exchanged today.

I will ride BTC for the trends. I am buying XRP for the infrastructure. It is a legit value proposition with real infrastructure that can not be replicated.

Newbie123 says

Bitcoin at 12.1k!!!!

Price theory suggests we test the 2017 highs. Expect a bumpy ride ahead.

BTC is highly susceptible to trends. I will put on a large long bet as BTC crosses new highs around $20000. I'm less interested in buying BTC here until I see that price action follow through.

I much prefer XRP as a hold.

Newbie123 says

CBOEtrader,
Do you have targets yet? Exit strategy?
If XRP reaches its ATH’s do you start scaling out or keep holding?

I take some profits every time we set a new high, but I try to buy it back lower.

Scalping is dicey w these trending cryptos though. I'll successfully scalp 3 - 5 times, then give back most of those profits in missed gains from a blowout trend. End result is I have good price action knowledge, better understanding of how cryptos trade, but not really a ton of extra profits.

This is my only large speculative bet. I will probably hold my 10% portfolio investment until it is >50% of my portfolio, then take profits and hold 20% of my risk max in XRP.

If it goes to zero, so be it. I like this bet.

CBOEtrader says

I will ride BTC for the trends. I am buying XRP for the infrastructure. It is a legit value proposition with real infrastructure that can not be replicated.

I like your more balanced view and approach versus Newbie. Haven't done much research on XRP, but I'm understanding now what you've commented on this a little more but am still looking into it.

My question though is if it's created, how can it not be replicated by someone else? I get it could be proprietary, but anything regarding digital transactions is simply numbers, letters or symbols. I'm being honest that I don't understand how it can't be copied.

Newbie123 says

Weird, haven’t we heard from wookie and onvacation that crypto is just a greater fools game and ponzi/pyramid scheme?

This will probably be my last comment directed towards you. You comment like an uneducated child here. I don't say that to be personal, but it's what you look like to most educated people. You don't answer any of the questions asked of you and are link spamming multiple threads in my opinion. If CBOE thinks I'm an idiot for asking the above question BUT actually answers it, and frankly could be a dick about it if he wants to, AT LEAST HE ANSWERED A FUCKING QUESTION!!!

You seem easily trigged by this topic. Your comments reek of desperation that someone is holding a $19k bag from the last run up. The common person WILL get crushed in crypto. Just like most uneducated stock traders do. You're playing a game of Russian Roulette except you're standing in a circle with your backs to the guy pulling the trigger and you don't even know it.

And you are actively seeking out and posting only positive articles. From suspect sources. You have zero authority on the topic. There's no balanced approach to what you're doing. You can't even have an intelligent debate on the topic that's so near and dear to you. You're a bitcoin/crypto fan boi and it will come back to bite you. The bitcoin millionaires were the guys that had a couple hundred held from $5. You will need it to go to $500k before you get those kind of returns. You have FOMO, just make sure you get it under control.

Newbie123 says

When Bitcoin Is going parabolic

Do you know what a parabola looks like?

No coiners wanna know.

WookieMan says

My question though is if it's created, how can it not be replicated by someone else? I get it could be proprietary, but anything regarding digital transactions is simply numbers, letters or symbols. I'm being honest that I don't understand how it can't be copied.

https://ripple.com/insights/exploring-innovation-payment-system-infrastructures/

https://www.tronweekly.com/ripple-central-banks-imf-connections-hints-explanation/

XRP is the establishment's crypto. At least, that's how it is described by the crypto-weirdos. I like betting on the establishment when possible. In this case, XRP has recruited a broad membership of central banks who are already using it for international exchange.

The software itself could be copied, in the same way BTC has a publicly available white paper. However, this XRP "infrastructure" is more like a central bank and international commercial Bank exchange social network.

Another crypto group won't catch up to their momentum. They have dozens of central banks on board already, all of them will be making $$$billion exchanges using XRP as the underlying exchange unit (XRP being the currency used in their exchange network).

The XRP bet is this: "The central idea is still built around an international non-national currency, and XRP could just fit the bill. It already does in most ways. The IMF acting together with the World’s Bank as a central bank for central banks could use XRP as a settlement means between the banks of the world while keeping balance along with bilateral relationships.

Mrs. Lagrade didn’t come out and spoke overtly about XRP adoption, but she espoused a series of ideas in which XRP could fit perfectly as the system’s working currency. Besides that, Ripple is already working alongside 40 or 50 of the world’s central banks so it’s already developed a collaborative network that would allow it to take center stage if the old Keynes plan should become an option (again) for the IMF.

The IMF’s leader has singled out Ripple in the past (calling it a disruptor, for instance) above other digital assets which shows that she’s very well about Ripple, its technologies and its currency.

So it would only make sense for the IMF to take advantage of Ripple (XRP)’s already developed networks, technology, and reliability to bring forward the next world’s financial system. And the IMF’s head seems to be keenly aware of this"

Newbie123 says

Now that bitcoins keeps going up and up and up and up.....and up and up and up.....you start reversing course. Wouldn’t be surprised if you start buying in at the top.

Lol. I won't buy any. My investments/businesses do jusssst fine. So fine I've been taking the last year off at 36 years old having fun and not worrying about watching numbers trade all day in fear of my financial future. Hanging out with the kids, traveling, etc. Have fun buying your numbers that are enormously volatile. I'll have fun with people paying me $$$ not to work. I can lay down at 10pm and wake up at 7am knowing my money is just fine.

CBOEtrader says

Another crypto group won't catch up to their momentum. They have dozens of central banks on board already, all of them will be making $$$billion exchanges using XRP as the underlying exchange unit (XRP being the currency used in their exchange network).

Got it. So it's in a sense market share lead in the field really, right? Similar to companies chasing the iPhone to relate the idea to a product. They were the front runners (not necessarily creators for the apple haters) in the tech for touch screen phones and it's difficult if not impossible to knock them off their perch. XRP has locked up their deals with big banks and any competition is too far behind to make it worth it for banks to switch to something else now that they're using it. Basically a successful launch of something that is too hard to catch up to (replicate/duplicate) for the competition.

CBOEtrader says

At least, that's how it is described by the crypto-weirdos

Newbie - balanced approach right in front of your eyes. Know you're investing in the unknown and own it. I will research crypto and learn about it, I know my limitations as my skills are faaarrrrrr better suited making money other ways. Keep applying your crypto "knowledge" of going to the moon and have fun. I know which bank account will have more numbers ;) eeerrrr I mean $'s at the end of the day.

Newbie123 says

You are the prime example for a typical bitcoin hater.

I don't hate it. You are a prime example of the fools that think they'll get rich quick. You should shift your outlook on life bud. You can't take it $$ (dollars) with you. Get out and enjoy life or do something productive at least.

WookieMan says

So it's in a sense market share lead in the field really, right?

Yeah I wish knew the geeky details but I do not, at least not well enough to describe w authority. Momentum plus the beginning of a trend = opportunity (also risk ofc).

I keep hearing XRP exchange network is instant and free, as compared to BTC mining which is starting to reach natural limits .

40 to 50 central banks on board w XRP is enough momentum for me to make a large bet. If XRP replaces the dollar for even 1% of international currency / commodity / financial asset transactions , then XRP will be 50x from here.

Still no screenshots of trades and holdings?

Newbie123 says

Forbes says 100k will be the new 10k for big daddy bitcoin

Are you trading into these trends? I've heard of leveraged futures products but haven't researched the exchanges yet.

I spoke w people at CBOT/CME a few weeks back. They refused to give me a timeframe for BTC futures, probably because that announcement was imminent (which I didn't know about when I spoke to them).

I REALLY want to trade BTC options.

Newbie123 says

I wouldn’t be so sure. You have a track record of contradicting yourself.

When? We'll see if this gets answered. My guess is no.

Newbie123 says

this will be your last comment towards me.

WookieMan says

This will probably be my last comment directed towards you.

Reading. Ain't it a funny thing.

Newbie123 says

And a few days ago you said I am a troll and should be ignored.

You have done nothing or commented on anything to counter this statement. You should be ignored, but the stupidity is flowing sooo much it's hard to ignore. If I can stop just ONE person from listening to your gibberish and buying into your pump and dump, I win. Not seeing a lot of people flocking to your defense here either. And that's your ultimate end game. To convert as many people to crypto to grab the bag you're holding.

Newbie123 says

you sound like this guy Logan motashami who said a few times (“this is my last comment/post”)

WTF does Logan have to do with this? He's one of the few past and present posters that has made a call and has been right. You have not made a call besides this will go to $20k or $100k. When? How? And why? You answer nothing because you're scared.

Newbie123 says

There will be a sharp correction in bitcoin sooner or later. Personally, I would have preferred slow and steady instead of these parabolic runs

Lo fucking L. You accuse others of contradicting themselves, while you're a walking contradiction. Jesus. Which is it, sooner or later? It can't be both.

Newbie123 says

We are in no mans land, there isn’t any resistance......Bitcoin is having a Bitgasm....back at 20k in a few days/weeks? Let’s see

Newbie123 says

There will be a sharp correction in bitcoin sooner or later.

Why?

Newbie123 says

Lol, didn’t I call it :) 2k drop back to 12k. This is healthy....:need to see some sideways consolidation and bitcoin to hold on key levels. If. If it drops further we might get out 30%-40% correction (buying opportunity)

I'll do some technical analysis later tonight. I do recall $12000 being an inflection point. Below that somewhere around 8000 and 3500 are also inflection points.

Expect BTC to be quite slippery in both directions coming off $12000

Newbie123 says

“This is my last response. Pinky promise.”

Who said this? You're showing your ass now guy.

Newbie123 says

2k drop back to 12k. This is healthy....

Nope. You said this was an investment and you were long. A 14% drop in the matter of minutes is anything but healthy. Stupidity has no bounds I guess.

https://www.coindesk.com/coinbase-hit-with-outage-as-bitcoin-price-drops-1-8k-in-15-minutes

In crap we trust is your motto. Lol. I know, I know, you have a digital wallet with fully encrypted data, but cannot show a screen shot of shit.

I love that there's probably a group of 5-10 guys/gals that made this shit up and strung it along for so long. And now they can just pull the puppet strings whenever they want and print dollars (not bitcoin) at the snap of a finger.

I'm sure the trust name is just a coincidence. Maybe a play on, well, tulips. Lol. Have fun. Balanced. Not everything is good. There's bad.

https://www.coindesk.com/craig-wright-provides-new-details-on-bitcoin-trust-at-heart-of-billion-dollar-lawsuit

Newbie123 says

People (bulls and bears) are fascinated by bitcoin and its parabolic moves

Nope. Wrong again. Given the worlds population that can trade it, literally no one gives a shit about bitcoin. Seriously.

You're a puppet on a string held by the few that control the many. Here's the link again. Feel free to ignore it again. You have NO idea who's holding this and when they can move. Lol. https://www.coindesk.com/craig-wright-provides-new-details-on-bitcoin-trust-at-heart-of-billion-dollar-lawsuit Keep up with the charts though on something that statistically has no comparison.

Newbie123 says

Clearly, you don’t give a shit about bitcoin, you are just here because you are super bored right?

Holy shit! Right for once. I'm bored and can be. What's your excuse? Am I a threat to your crypto empire that YOU also keep responding?

You're bored and worried about money (dollars). I'm not. I have many. Chase the miracle all you want. You'll lose. Just make sure to ask mom for the meatloaf whenever you're hungry. Maybe she'll unlock the basement door.

Newbie123 says

CBOETrader, is this what you are looking for?

https://ledgerx.com/products/

That's cool. I'm calling them today to see if there are protections in place. My concern is when/if BTC makes a huge move, many fortunes made/lost could perhaps not be paid out unless they have a clearing corp level of protection.

Newbie123 says

You’ll lose

Yes! You're getting it now.

WookieMan says

Am I a threat to your crypto empire that YOU also keep responding?

Answer. It was a question. It's cute you're too chicken shit to answer any questions here. Lol, not sure I've typed cute ever. Oh well. Probably cause I ain't getting stuck in the shitter by a one eyed critter like our crypto expert is. lol, cute. Fucking A, cute. Jesus. One gay pride thread and everyone's fucked up I guess...

Newbie123 says

The guy who said repeatedly he is not going to comment anymore

When?

Newbie123 says

Not surprising that this genius also claims bitcoin will die “go away”.

Why will it stay around?

Newbie123 says

“the cute threat”

Grown men don't use the word cute Mrs. Newbie.

Just a quick note, when that link about btc to 15k signaled by premium on tracking index fund came out many prob read it and bought in. Then the rug was pulled at what 13.5k all the way back down to 10k and something. This smells of pump and dump. The crypto awareness is def growing and it's here to stay but true price discovery is impossible and articles like these pump pieces don't make it look good if the rug is pulled like this just 10%-20 % before reaching the postulated target. Of course stocks are p & d as well every day. Still I wonder how many bought at 12k-13.5k and are now selling in disappointment cause they were front run.

Newbie123 says

a short squeeze happens

A short squeeze is when short sellers are forced to buy to stop their losses. You can't currently short BTC, so this couldn't be a short squeeze.

When you have your funds in your hardware wallet you are in control of the private keys. It’s stored offline. Not “attached” to the internet.

Even newbie investors know that you don’t leave your crypto on an exchange.

This is what you said in a previous comment above. So how can you short it then? CBOE wasn't wrong and he's talked about shorting this before. And you are wrong about shorting it outside the US, you'd have to put it on this exchange and take it out of your "hardware wallet" right? Can you even trade it without putting it on any exchange? I know the answer is yes, but I think you're too naive to understand why I ask this again. And which one do you trust to not steal your coins? Cause they will at some point. You're recommending putting a high risk asset on a high risk exchange after you said you keep yours (which none of us believe you have) on a hardware wallet.

And why is it BitMEX does not allow US customers? The country holding the most amount of $$$ that btc is tied to? Weird... figure there could be $$ to be made. And why does BitMex at the top of their site have a line about liquidating positions of persons they deem in violation of their completely BS terms of service agreement? Seems like a very safe place to do business, right? I guess at least they're honest you'll probably lose money.

One of the biggest problems I have with what you post is it's all pump and dump BS. You have not been ripped off yet, probably because you don't hold anything. Here are a few articles/papers against bitcoin. If you have a leg to stand on, defend why they are wrong and not just post gay videos like a 16 year old chilling in your gay dad's basement. Otherwise you're just a pump and dump hack spamming this site.

Page 8, note 3 specifically, though they talk about it throughout the paper. The government doesn't have to regulate it. They can make bitcoin obsolete by mining it on their own and not making it worthwhile and shut the whole thing down. Again, we have a plant that causes no harm and actually would create more revenue for the gov. instead of drug dealers: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3323529

https://www.coindesk.com/bitcoin-will-still-bite-the-dust

https://hackernoon.com/debunking-economics-and-why-bitcoin-will-fail-with-steve-keen-51f51eb9a477 (you'll be too lazy to listen to the whole thing. Not going to tell you when the bitcoin part starts)

Counter anything with an intelligent response. At this point you're spam.

mell says

This smells of pump and dump.

It's a teeny tiny market compared to gold.

It was a direct quote. Your reading comprehension is awful. I'm fully aware it's not "attached" to the internet. You missed the nuance in the comment that I know you fully read (or tried to at least) even though you say you didn't. You see the word bitcoin and you get a hard on. You can't have an intelligent conversation which leads everyone to believe you're a pump and dump spammer.

Newbie123 says

Dude, you honestly asked me “so how can you short it then”?

Newbie123 says

A)You do understand what it means to have your funds on a hardware wallet and what the reason would be to do so?

Fully understand. You don't understand my sarcasm. Which leads me to believe you don't know what you're doing. Sorry, got that wrong, I know you don't know what you're doing.

Newbie123 says

B)Shorting bitcoin: do you still think (after all these articles and websites I posted) it’s not possible to short bitcoin?

Bold part in quote one. If you want, I can read the comments and record them and post the audio. It gets tiring bolding words for those less fortunate in head.

Newbie123 says

Will the “threatening” Wookie”man” start buying crypto at some point because he just can’t take it anymore or will he continue to say he is just posting that bitcoin is a ponzi/Pump and dumb/pyramid scheme/scam because he is “bored”?

I've bought crypto in the past. I won't in the future. I've educated myself and understand what it is. I am bored because I don't have to work and I don't have to look at numbers going up and down all day worrying about being broke. You've made the mistake of assuming I'm a fool, but that's fine, it's usually what fools do.

You've got to understand that some people have already made it. I don't have to chase riches or wealth. I have it and it wasn't given to me. Do something productive and maybe you'd understand my point of view. Hopefully it doesn't take this long, but when you're lying on your deathbed, your pursuit of riches through crypto currency will be the last thing on your mind.

You're not a balanced person and that's why I think this is just a spam/pump & dump push by you. You comment almost immediately every time. It's very likely you're on other forums/boards doing the same thing. If it's not, maybe comment on some other topics here to prove me wrong. Have an intelligent comment on another, non-bitcoin/crypto thread and make me eat my words.

Newbie123 says

Exactly! Bitcoin has lots of upside.

So how much do you dollar cost average into crypto and how often?

WookieMan says

Have an intelligent comment on another, non-bitcoin/crypto thread and make me eat my words.

Or an intelligent answer to crypto questions?

By thinking about and answering some of the questions posed to you, you can prove that your more than the apparent crypto fanboi idiot.

Newbie123 says

At some point onvacation will follow suit and also admit he bought crypto

Knowing my beliefs about crypto, why would I buy it? I'm not a gambler.

Can you answer the questions posed to you?

Newbie123 says

He just confirmed above he bought.

Jesus. Reading. In this thread and another I've said I've bought it (probably many other times as well). I WAS a fool and then I researched and got out, quickly. I think I HAD some bitcoin for a week.

Failing to admit past mistakes will only mean you'll keep making them. There's a lot of stupid things I've done and I'm not a coward like some to admit it. I've also seen a lot of stupid things people do personally with crypto and lose their shit. You don't know what you're doing, even if you're pretending to be holding some.

Newbie123 says

Investing is just not for everybody.

You mean gambling.
Are you going to answer any questions?