n0razi
Member
I doubled up after the crash
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Bitcoin is going to ruin a ton of people mainly millennials
- Thread starter gatti-man
- Start date
I doubled up after the crash
The Hermit
Member
Me too.
Man, if I wasn't a gaffer back in 2010-2011 I would have dived into Bitcoins way sooner. This board loves the government too much
Baraka in the White House
2-Terms of Kombat
The thing I don't understand is wasn't Bitcoin supposed to be an actual useful currency? And not just a glorified investment rollercoaster/slot machine?
DarkestHour
Banned
shira
Member
It was.
When the price was stable it was very good for traveling/currency exchange.
You buy some coin in your home nation, go somewhere sell the coin and pick it up via Western Union.
With the prices now, if you were a part-time drug dealer selling exclusively in bitcoin you could be a millionaire.
50-60 bitcoin is a million bucks USD.
cubicle47b
Member
Bitcoin was semi-useful as a currency at one point when a small number of people and businesses were using it. It just doesn't scale well. Block size is limited to 1 MB and the network can only handle something like 3-7 transactions per second. There are some planned improvements like the lightning network, but who knows when that will be released or how much difference it will make. Other coins are working on / have their own solutions.
longdi
Banned
Seems like the beginning of the end for crytocurrency?
I always wondered who are the ones buying coins? I get those early miners will have tons of coins, and those rich dudes who can buy tons of coins too. These guys will set up exchanges and get noobs to trade fiat for their coins. Once most of them are sold at good prices, its the end, right? Noobs are stuck with worthless coins, while the miners cashed out.
I think it is not hard to manipulate prices. Buy and sell your small lots to drive up prices. Unregulated exchanges domiciled in tax havens can be shady af.
I always wondered who are the ones buying coins? I get those early miners will have tons of coins, and those rich dudes who can buy tons of coins too. These guys will set up exchanges and get noobs to trade fiat for their coins. Once most of them are sold at good prices, its the end, right? Noobs are stuck with worthless coins, while the miners cashed out.
I think it is not hard to manipulate prices. Buy and sell your small lots to drive up prices. Unregulated exchanges domiciled in tax havens can be shady af.
TimFL
Member
It's only the beginning. I wouldn't advise getting into BTC, only alts.
There are loads of coins with real world value that could explode easily in 2018. XLM or REQ to name a few of them.
Surely there are loads of shill/shit coins also (XVG cough) that pump hard now but I'd wager most of them die a horrible death by EOY2018.
I, for one, used the dip a few days ago to double my holdings for 2018. Only ever invest what you're willing to lose though. As it stands the market is way too reliant on BTC trading pairs. That is rumored to change with, for example, XLM / FIAT exchanges like FairX (unconfirmed but heavily hinted at).
Vicetrailia
Member
It's not about government, it's about RISK, and being risk adverse. Not saying that you didn't have a good reason to be but...Hindsight is 20/20.
DonMigs85
Member
COLX looks interesting, good for a massive pump at the very least once it hits Cryptopia
cormack12
Gold Member
The thing I don't understand about crypto currency in general (any maybe someone can educate), is that our economies currently rely heavily on credit. Like, if we need to create more debt then we just create it right? If cryptocurrency is going to become something more than a digital commodity (oxymoron?) what does a credit based economy look like propped up by that? I thought the advantages were firstly it was finite and every coin could be accounted for. Wouldn't it still need an underlying tangible currency to work properly?
Also what about unifying a currency on that scale? We've seen in Europe with the euro that this causes its own set of problems.
Honestly, these might be easy questions because I've not really looked into it too heavily, and anything I google seems to be about the technical workings rater than implementing it globally as a real world currency and avoiding the pitfalls/imitating (or even alternatives) to how we work now....
Also what about unifying a currency on that scale? We've seen in Europe with the euro that this causes its own set of problems.
Honestly, these might be easy questions because I've not really looked into it too heavily, and anything I google seems to be about the technical workings rater than implementing it globally as a real world currency and avoiding the pitfalls/imitating (or even alternatives) to how we work now....
HarryKS
Member
PrimeCoin is a decent bet. Don't need much. Personally, grabbed some Raiblocks at 0.6 $. Not that cheap now.
BuddyTheBestPuppy
Member
amazing post!
xStoyax
Banned
You realize that Bitcoin even after the 'crash' is still $5500 higher value than last month right?
$13,000 higher value than last year....
Divus
Member
Been into Crypto only since late August. Technically this isnt exactly true as I had 5 BTC back in 2010, but that is long gone.
I was fortune enough to find and buy into Vertcoin before the price 10x in value in just under 2 months time. Really wish I would of started to mine it a bit earlier as I was making 3 VTC a day just a few months ago and it didnt seem worth it for about $3.
Personally I dont think Bitcoin will be the king forever. It is a bubble, but so are most investments if you give them long enough. I do think some Alt coins will one day replace BTC. Finding those alt coins early enough is key.
In less than 4 months Im up 500% on my original investments. Not all of coins i invested in have done what BTC & VTC have, but all of them are up overall. All of that money was going to be spent on luxurys I didnt really need anyway. Even if the market is cut to 1/3 I can exit better off than my stock market investments would of done in that time.
I was fortune enough to find and buy into Vertcoin before the price 10x in value in just under 2 months time. Really wish I would of started to mine it a bit earlier as I was making 3 VTC a day just a few months ago and it didnt seem worth it for about $3.
Personally I dont think Bitcoin will be the king forever. It is a bubble, but so are most investments if you give them long enough. I do think some Alt coins will one day replace BTC. Finding those alt coins early enough is key.
In less than 4 months Im up 500% on my original investments. Not all of coins i invested in have done what BTC & VTC have, but all of them are up overall. All of that money was going to be spent on luxurys I didnt really need anyway. Even if the market is cut to 1/3 I can exit better off than my stock market investments would of done in that time.
pacifikballa
Neo Member
My wife and I are looking for long-term players in this coin/token market. We currently have some Ethereum and will be purchasing another chunk of IOTA soon.
RiccochetJ
Gold Member
I am.
When you see stupid shit like this:
https://www.bloomberg.com/news/arti...ong-island-iced-tea-rename-as-long-blockchain
It's time to take your winnings and cash out.
TransTrender
Gold Member
Holy shit this reads like an Onion article.
O.v.e.rlord
Banned
Saw this shit. Ands its not a good sign at all.
RiccochetJ
Gold Member
Indeed. People who have absolutely no idea what the hell is going on are throwing money indiscriminately into the market. And it's making it extremely volatile. There's a correction on the horizon and it's not going to be pleasant.
Longfin is even worse than LTEA.
https://www.bloomberg.com/news/articles/2017-12-18/fintech-mircocap-stock-jumps-2-400-after-touting-crypto-link
https://seekingalpha.com/article/4132679-longfin-5-100-plus-week-crypto-mania-spreads
Imagine that for every dollar you invested one week you'd get $30 back the next.
https://www.bloomberg.com/news/articles/2017-12-18/fintech-mircocap-stock-jumps-2-400-after-touting-crypto-link
https://seekingalpha.com/article/4132679-longfin-5-100-plus-week-crypto-mania-spreads
Imagine that for every dollar you invested one week you'd get $30 back the next.
GamingKaiju
Member
I got into mining ETH back in October. Got 1 Rig mining with 8 Vega 56's and 4 GTX1070's. Rig 2 is only running 6 GTX 1070's and 1 Vega 56.
The difficulty is starting to rise again on ETH meaning less ETH mined. I'm currently setting up ETN on both RIGs and my home PC see what happens.
I was also dual mining ETH and DCR but running both increases my electricity costs.
The difficulty is starting to rise again on ETH meaning less ETH mined. I'm currently setting up ETN on both RIGs and my home PC see what happens.
I was also dual mining ETH and DCR but running both increases my electricity costs.
HarryKS
Member
Go for ZCash instead.
If youre not paying attention to REQ, ICX, DBC, you will not have a fun start to 2019... theyre so ridiculously undervalued right now
I recommend XRP but I think its about to face a correction back down to 1.30-1.50ish that will be the time to buy before it goes past $2 for good.
Dont sleep on IOTA either.
I recommend XRP but I think its about to face a correction back down to 1.30-1.50ish that will be the time to buy before it goes past $2 for good.
Dont sleep on IOTA either.
Uhhhhhh it keeps climbing up. the fuck
Aren't all forms of cryptocurrency manipulated? Be it the Chinese miners or so called Whales of bitcoin or the fact XRP is mostly held by Ripple founders. Regardless of the coin, all players are gambling solely under the Greater Fool theory as there is no intrinsic return associated with these currencies as an asset.
This is what drives massive surges in valuations as each party is incentivized to pump the entire sector solely as a means to dump their over-valued asset on the backs of all the fools who buy it from them. Hence, greater fool theory.
In this regard, conventional metrics would be useless as it would not go far in explaining the value of any coin or the value of Longfin, LTEA, Riot etc.
So while XRP might not be expected to reach a market cap in the trillions, there's nothing that really stops it from doing so.
HarryKS
Member
Good luck.
Yes. Should have, when it reached 19k satoshis earlier today. That's how I see it personally though. The supply is just too high to expect it to progress any further. The Korean market folly has skewed this by a big margin.
I've got nothing invested in crypto-currency and have no intention to at this stage of the cycle. I also don't care if people become overnight millionaires as its not a zero sum game wherein I'd be a crypto bagholder. The inevitable knock-on effect on equities might be annoying but they've also been on a tear and a pullback is expected, besides which my holdings are fairly secure blue chips that have weathered and rebounded pretty much the worst collapses since I've been alive.
I'm more or less evaluating this like a science project. The internet wasn't like this when beanie babies were around or even the dotcom boom so now I can see the cryptocurrency reddits, twitter accounts, blogs and the forums to see the inner workings and mentality that surrounds it. I don't think we've ever been able to scrutinize situations like this with as much available data.
The Hermit
Member
I quited too a week ago. There is some projects I believe in and have a bit still invested, but I took my initial investment and won't pour any cent on it.
My main gripe is the existence of Theter and how it's basically blowing up the value of bitcoins and altcoin.
Ripple being in second place just shows how ignorant the main "investors" are.
HarryKS
Member
Warned you about Ripple.
Put your money into XRB instead. You'll be happy with the returns if you want a safe bet. It will double for sure again within a month or two.
It's not popping, it's a consequence of many, many things which unfolded over the past week or so. Personally, I think the insane transfer fees are crippling it. Until they get it sorted and it shoots up again.
Put your money into XRB instead. You'll be happy with the returns if you want a safe bet. It will double for sure again within a month or two.
It's not popping, it's a consequence of many, many things which unfolded over the past week or so. Personally, I think the insane transfer fees are crippling it. Until they get it sorted and it shoots up again.
longdi
Banned
Can anyone mine XRB?
I rather mine than go through the hassle of converting here and there!
All these altcoin miners, where are they?
For instance, it seems only the XRB admins are printing their digital 'money', so you are at the mercy of how upright they are. No pump and dump, no manipulation
I rather mine than go through the hassle of converting here and there!
All these altcoin miners, where are they?
For instance, it seems only the XRB admins are printing their digital 'money', so you are at the mercy of how upright they are. No pump and dump, no manipulation
naweednrahman
Member
What's up with the Ripple FUD. I work for an investment bank and unlike most coins out there ripple actually has utility and value.
sono
Member
I am new to online trading but I felt the pull to dabble in bitcoin from November. (I signed up to etoro which seems ok for this purpose.I invested a small amount to see how it worked..)
I am amazed at how volatile the bitcoin market has been in december. I find myself checking the situation almost hourly..
I am amazed at how volatile the bitcoin market has been in december. I find myself checking the situation almost hourly..
HarryKS
Member
The coin does not matter. They don't need the coin. It's a token actually.
The value can only go so far when banks and financial institutions are involved so early wit XRP. A centralized coin defeats the purpose of crypto as an alternative form of currency.
XRB or XRP? Neither can be mined. They're pre-mined. There are many other altcoins you can, you just have to look.
https://bitcointalk.org/index.php?board=159.0
naweednrahman
Member
Do you know how valuable liquidity is?
I don't know what your background is but I'm not sure you have a clue why ripple (not just xrp but xvia etc) are useful.
HarryKS
Member
I am talking about XRP. The token, As a store of value. Don't know what you're reading, but that's the primary concern of people in here.
This is a perfect example of the kind of absolute bullshit talking around crypto that my OP is about. No the risk in crypto isnt like a normal investment not at all. It is 100x greater easily. Show me the last time Facebook lost 40% of its value in 3 days with no warning? Thats crypto. Its not talking shit to draw a line between investing and gambling.
Your post is essentially bro I gambled and made out so anyone that says otherwise are haters bro. Yeah no not hating. One of my buddies heard about crypto when btc was 20k and wanted to put his savings into crypto. Needless to say I saved him from a 30k loss by telling him straight up that crypto isnt regulated and its a total fantasy land idea that crypto will ever be a currency.
cubicle47b
Member
Its gambling where almost everyone that gambled made an insane amount of money.
Alx
Member
same could be said for a pyramid or Ponzi scheme. It's a system that doesn't produce its own value, so the money that people make today is money that someone will lose sometime down the road.