patrick.net

CBOEtrader says

4)cryptos are the best thing we've invented so far to replace fiat dollars.

I actually agree with all this. The unfortunate problem is our fiat dollar is backed by the US government. They can and WILL have a say in the crypto market at some point. And I don't imagine any regulation put in will weaken our own dollar. This is one of the many problems with crypto in my opinion.

Not you, but people are running around thinking Trump is going to be a fucking dictator. It won't ever happen. The thought that any crypto will be a viable currency to overtake the dollar, with no US interference is laughable. It's a similar line of thought.

As I've said before in other threads on this topic. Gain massive wealth if you can from it. I'm a decent guy and have no interest in seeing people suffer or lose money. If I'm wrong about my opinion, I'll be the first to admit it. But I can almost promise you, at least with Bitcoin, that if my kids live to 80 years old, it won't exist. Most of them won't.

Make money while you can with it. Trust me, I wouldn't turn down a $2M a year job if it worked out, but if I had to bet a decent chunk of my savings, count me out. As an about to be 36 year old that doesn't have to work, I think I've made some decent decisions (no family wealth/inheritance).

CBOEtrader says

I'm keeping about 20% of my investments in cryptos,

How much physical PM in your portfolio?

Someone's about to Win Bigly. WHEN?

Newbie123 says

You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.

Show us your fucking strategy via screenshots of your trades and holdings.

Hugolas_Madurez says

Newbie123 says

You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.

Show us your fucking strategy via screenshots of your trades and holdings.

Pretty sure it's a bit at this point. It's not trolling, as usually a good troll will come at you with some sort of fact or something even if it's wrong. That's not the case here. I'm not sure why I've wasted so much time on this thread... Oh well, mistakes happen. The red flag is when some moron says "to the moon" and then it's an exercise in retardation. He's dodged every single question asked of him.

WookieMan says

I'm not sure why I've wasted so much time on this thread..

You can't waste time or money, but you can misuse them.

We are trying to educate the ignorant. It is one thing to gamble on cryptocurrency in hopes that it will turn a profit, but if one thinks all of the worlds governments will allow fiat bitcoin to supplant their fiat currency they are in for a surprise.

Why is crypto valued in fiat?

Onvacation says

CBOEtrader says

I'm keeping about 20% of my investments in cryptos,

How much physical PM in your portfolio?

About $5 k only. I don't want to deal w physical. If I had $25 million I'd probably only have $50k of physical.

Thoughts to contrary?

CBOEtrader says

Thoughts to contrary?

Traditionally, 10% of your net worth should be in PM to hedge against disaster. Guns and bullets would be a good idea too.

I recognize you as smart and thoughtful. Why would you gamble with 1 out of 5 dollars of your net worth on something as ephemeral as crypto?

Are you gambling?

Do you think it will become a valid and efficient method of exchange?

FOMO?

It's the best thing since sliced bread?

As a computer scientist I just don't understand the attraction to crypto.

Newbie123 says

To The Mooooon

Spam. Not very sophisticated spam, but spam.

Bitcoin is becoming the new "Gold to $20k/HAARP/Bigfoot" Crankery "Tell".

Newbie123 says

Bitcoin more popular on google trends than trump, Tesla and Kim Kardashian! I am not surprised. Bitcoin is much more exciting than all those three combined :)

Or maybe a bunch of bitcoin cucks keep checking for the moonshot.

How long since you last checked the price?

Newbie123 says

Would you rather have 1mio US dollar worth of gold or 1mio US dollar worth of bitcoin at the moment?

I will take the metal. You can keep your 0s and 1s.

Newbie123 says

Bitcoin has the potential to pull a 5-10x within the next few years. Try that with gold.

Which one is more likely to go to zero?

Oh yeah, you don't answer questions.

Newbie123 says

Rofl!! You just keep praying, hoping and wishing bitcoin will go away(zero).

What makes you think that?

No one ever underestimated the ignorance of the public.

So
Onvacation says

Newbie123 says

Bitcoin has the potential to pull a 5-10x within the next few years. Try that with gold.

Which one is more likely to go to zero?

What do you think? Is gold more likely to lose all value or crypto? You can answer honestly and still BELIEVE in crypto. It's more of a cult than a religion.

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?