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Anybody: Bitcoin/Crypto?

By CJS following x   2018 Apr 5, 12:28pm 6,060 views   331 comments   watch   nsfw   quote     share    


I'm heavy into the crypto game this year is any else?

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81   Newbie123   ignore (0)   2019 Jun 7, 10:00am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Rofl! No, you guys don’t seem triggered. Not all all. Why would one think that?

Got a feeling this will be ongoing entertainment over the years as we will see funny/misinformed/uneducated responses from you guys the minute bitcoin news hits. Or when the parabolic bull market takes off and people (myself included) will post updates.

Here another video....ehm “Investment advice”

82   Onvacation   ignore (4)   2019 Jun 7, 10:09am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
parabolic bull market takes off

To the. Moon!

I gonna be a bitcoin billionaire.
83   Newbie123   ignore (0)   2019 Jun 7, 1:20pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Love that Song :)
“A money like my last girl - completely virtual” :)

Yeah, I won’t be a billionaire, but even if we just hit the last ATH’s (i am sure we will exceed by a few x) I am going to be set and retire early. This is my second cycle, I got the holdings and my targets.....ready for it to moooon. Might take a few months/years though. Patience and scaling out will be key.
84   CBOEtrader   ignore (5)   2019 Jun 7, 1:34pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

WookieMan says
Most institutions can just duplicate existing hardware and software to get their piece of the pie.


100% wrong.
85   CBOEtrader   ignore (5)   2019 Jun 7, 1:38pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

WookieMan says
As long as it trades, there's value and ripple isn't bad/wrong to pursue it and is technically smart to cheaply game the system and take money from people rather easily.


It? Ripple can exchange anything via their infrastructure. That's the point. Their exchange network is potentially a competitive advantage that can not be replicated.

Ofc, they must be first to the space. They seem to be.
86   Newbie123   ignore (0)   2019 Jun 7, 2:21pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

CBOEtrader says
WookieMan says
Most institutions can just duplicate existing hardware and software to get their piece of the pie.


100% wrong.


Exactly! Wookie has been wrong on so many levels/topics. It’s hilarious and something in me hopes he doesn’t change (for entertainment purposes only).
87   Onvacation   ignore (4)   2019 Jun 7, 3:14pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bitcoin consumes almost the same amount of energy as Ireland.

What happens to the blockchain when miners stop mining?
88   Newbie123   ignore (0)   2019 Jun 8, 12:08pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Speaking of mining.

https://www.fxstreet.com/cryptocurrencies/news/samsung-has-been-designing-and-manufacturing-chips-required-for-bitcoin-mining-201906041605

Samsung has been designing and manufacturing chips required for bitcoin mining.

Sounds like Samsung’s betting on bitcoin to be around for a while longer.
89   CBOEtrader   ignore (5)   2019 Jun 8, 12:42pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
Bitcoin consumes almost the same amount of energy as Ireland.

What happens to the blockchain when miners stop mining?


They use ripple instead.

Bitcoin is like the AOL of internet giants. Eventually people will get annoyed at it's built in limitations and use more utilitarian cryptos.
90   Onvacation   ignore (4)   2019 Jun 8, 2:09pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says

Sounds like Samsung’s betting on bitcoin to be around for a while longer.

Or they're supplying a demand.

HODL2Z!
91   Newbie123   ignore (0)   2019 Jun 9, 4:45am   ↑ like (0)   ↓ dislike (0)   quote   flag        

“Demand”
Exactly, there is an increased demand in mining/owning bitcoin and trading crypto currency. It’s obvious that Increased demand will translate in increased prices over time.

And many traditional companies/exchanges/entities want to be a part of the cryptocurrency demand/future.

Germany’s second top stock exchange listed ripple and litecoin ETN’s:

https://cointelegraph.com/news/germanys-second-top-exchange-borse-stuttgart-lists-ripple-and-litecoin-based-etns/amp

And here are plans for the NYSE:

https://www.reuters.com/article/us-ice-cryptocurrency-bakkt-idUSKBN1KO1QN

“Intercontinental Exchange Inc (ICE.N), the owner of the New York Stock Exchange, said on Friday it plans to form a company and trading platform for digital assets, such as bitcoin, as well as a physically delivered bitcoin futures contract.”
92   Onvacation   ignore (4)   2019 Jun 9, 9:10am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
physically delivered bitcoin

Please explain how you can physically deliver bitcoin. And while your at it, what is the intrinsic value of 0s and 1s?
93   Newbie123   ignore (0)   2019 Jun 9, 9:45am   ↑ like (0)   ↓ dislike (0)   quote   flag        

sure.

The article says:

"(...) plans to form a company and trading platform for digital assets, such as bitcoin, as well as a physically delivered bitcoin futures contract"

"ICE did not give a launch date for the new company, called Bakkt, and said further details would be announced in the coming weeks."

"However, it plans to launch a one-day physically delivered bitcoin futures contract and warehousing through its U.S.-based futures exchange and clearinghouse in November, subject to approval by the U.S. Commodity Futures Trading Commission."

https://www.reuters.com/article/us-ice-cryptocurrency-bakkt-idUSKBN1KO1QN

so, two things:
1) patience: It hasn't launched yet.
2) any questions, concerns, disbelief regarding the article: Pls contact Reuters.
94   Onvacation   ignore (4)   2019 Jun 9, 9:51am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
any questions, concerns, disbelief regarding the article: Pls contact Reuters.

You could just say, "I have no fucking clue."
95   Onvacation   ignore (4)   2019 Jun 9, 9:52am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Still no answer on bitcoin's intrinsic value?
96   Newbie123   ignore (0)   2019 Jun 9, 12:00pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I can tell you the current value of one bitcoin (BTC): 7600 ish. Hoping it will retrace a bit more so my new buy orders get filled.
97   Newbie123   ignore (0)   2019 Jun 9, 12:02pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
Newbie123 says
any questions, concerns, disbelief regarding the article: Pls contact Reuters.

You could just say, "I have no fucking clue."


I am not here to convince anybody. I just report interesting news and let no-coiners/bitcoin haters be triggered. If you doubt articles you should contact the source. Don’t shoot the messenger :)
Even though that seems more convenient.
98   Onvacation   ignore (4)   2019 Jun 9, 1:55pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
I can tell you the current value of one bitcoin

Do you even understand what intrinsic means?
99   Onvacation   ignore (4)   2019 Jun 9, 3:25pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
no-coiners/bitcoin haters

Is that like a climate change denier?
100   Newbie123   ignore (0)   2019 Jun 9, 7:40pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I’d say No-coiners/Bitcoin haters are more entertaining and funny.

Regarding intrinsic value, Going forward I will provide you with a price update instead of answering your question.
101   Onvacation   ignore (4)   2019 Jun 9, 8:26pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
No-coiners/Bitcoin haters

I'm not the one holding a string of 0s and 1s and thinking they are better than gold.
102   Newbie123   ignore (0)   2019 Jun 9, 9:03pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

You might find this interesting

103   CBOEtrader   ignore (5)   2019 Jun 9, 9:04pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Onvacation says
Newbie123 says
No-coiners/Bitcoin haters

I'm not the one holding a string of 0s and 1s and thinking they are better than gold.


We are all guilty
104   Onvacation   ignore (4)   2019 Jun 9, 9:50pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

CBOEtrader says
We are all guilty

So true.

It's a fiat world and things have value just because someone says so; beanie babies. What are our brokerage accounts but 0s and 1s on a computer somewhere.

Bitcoin is just the ultimate example of value just because someone says so. It has no intrinsic value. It's supposed extrinsic value is as a currency and untraceable method of exchange or an "asset" that they hope will increase in value.

They even "mine" cryptocurrency.

I know some people gamble with crypto with hopes of selling before the bubble pops when people see that "big daddy" is naked. Others think it is the best thing since sllced bread.

Consider this; the amount of money in crypto exceeds the value of all known silver in the world.
The following charts were from before bitcoin crashed so now the crypto to silver ratios are lower.

105   Newbie123   ignore (0)   2019 Jun 9, 10:11pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

“They hope it will increase in value”
Bitcoin had parabolic increases since inception (ten years ago) but we have seen nothing yet.
The question is, Is bitcoin digital gold and will overtake physical gold some day? Let’s wait and see.
106   WookieMan   ignore (3)   2019 Jun 10, 4:32am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
I can tell you the current value of one bitcoin (BTC): 7600 ish.


Why didn't you include the $ sign? I mean ultimately that's the currency you'll use and why you hope the "value" of crypto goes up.

CBOEtrader says
It? Ripple can exchange anything via their infrastructure. That's the point. Their exchange network is potentially a competitive advantage that can not be replicated.


Cool. It can't be replicated..... yet they're trying to do the same thing Visa does for credit cards. Hopefully Visa doesn't find out that someone is trying to do something that has been possible for a decade or so.... They probably couldn't replicate what ripple is doing at all... From their own website (which is a treasure trove of BS)...

XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa.*

https://ripple.com/xrp/

Then there's this

My XRP was stolen. What do I do?

https://ripple.com/faq/

Just call/contact the FBI... LO fucking L. Like they'll give a flying fuck.

Newbie123 says
Exactly! Wookie has been wrong on so many levels/topics.


Name one. Then explain why it's wrong.
107   Onvacation   ignore (4)   2019 Jun 10, 6:11am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
The question is, Is bitcoin digital gold and will overtake physical gold some day?

After all, they have the same intrinsic value.
108   Newbie123   ignore (0)   2019 Jun 10, 6:41am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Interesting read. A former IBM executive believes Bitcoin will hit a 1mio dollar price per coin within the next decade. A member of PayPal’s board of director joins the prediction.

https://finance.yahoo.com/news/most-insane-1-million-beyond-193017764.html
109   WookieMan   ignore (3)   2019 Jun 10, 6:45am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Newbie123 says
Interesting read. A former IBM executive believes Bitcoin will hit a 1mio dollar price per coin within the next decade. A member of PayPal’s board of director joins the prediction.

https://finance.yahoo.com/news/most-insane-1-million-beyond-193017764.html


You should change your name to Dodge123. Better fit...
110   CBOEtrader   ignore (5)   2019 Jun 10, 7:13am   ↑ like (0)   ↓ dislike (0)   quote   flag        

WookieMan says
Newbie123 says
Exactly! Wookie has been wrong on so many levels/topics.


Name one. Then explain why it's wrong.


This was in context of suggesting physical infrastructure and/or code are easy to replicate. They arent, not even close.

Tha doesn't make you right/wrong about Bitcoin though.

Heres what we know for sure: 1)most of the world is looking for a replacement for the dollar . 2)dollars are fiat. 3) im-fucking-possible for gold to back transactions . Doing so would effectively make gold fiat, in that 99% of it's value would be for exchange of other goods not the value of the metal. 4)cryptos are the best thing we've invented so far to replace fiat dollars.

Conclusion : I'm keeping about 20% of my investments in cryptos, mostly ripple for the infrastructure they've built.
111   WookieMan   ignore (3)   2019 Jun 10, 7:27am   ↑ like (0)   ↓ dislike (0)   quote   flag        

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).
112   Onvacation   ignore (4)   2019 Jun 10, 7:27am   ↑ like (1)   ↓ dislike (0)   quote   flag        

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

How much physical PM in your portfolio?
113   EBGuy   ignore (0)   2019 Jun 10, 5:22pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Someone's about to Win Bigly. WHEN?
114   Newbie123   ignore (0)   2019 Jun 10, 5:30pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

You need a good strategy, discipline and patience. Nobody knows when we will see new ATH’s.
115   Hugolas_Madurez   ignore (4)   2019 Jun 10, 5:45pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

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.
116   WookieMan   ignore (3)   2019 Jun 10, 7:03pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

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.
117   Onvacation   ignore (4)   2019 Jun 10, 8:14pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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?
118   CBOEtrader   ignore (5)   2019 Jun 10, 8:58pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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?
119   Onvacation   ignore (4)   2019 Jun 10, 10:09pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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.
120   Newbie123   ignore (0)   2019 Jun 10, 10:11pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Institutional demand for bitcoin appears to be increasing

https://www.theblockcrypto.com/2019/05/13/institutional-demand-for-bitcoin-appears-to-be-increasing/

Interesting:

“Bitcoin inflows, or the amount of bitcoin added to GBTC’s holdings, have reached an all-time high in April signaling an increase in institutional demand
The GBTC premium is currently nearly 40% and has increased consistently since December, which shows a shift of the sentiment in the market”

And

“Grayscale Bitcoin Trust (GBTC), a $1.4 billion closed-end fund that invests exclusively in bitcoin, serves as perhaps the best indicator of institutional investment in bitcoin. And the data is showing an uptick in the institutional demand”


During the last bull market, retail investors were pushing the price. Now, that institutional money enters the market, it would be no surprise if bitcoin reaches new ATH’s in the forseable future. Some say, To The Mooooon.

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