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InvisibleStonehenge
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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: memes] * 1
    #24454076 - 07/03/17 09:52 AM (6 years, 6 months ago)

I agree with much that has been said but avoid coinbase. If you never believe anything else I tell you, believe that. I'm not even sure they are still in business but they have already ripped people off.

Bitcoin for the win, I agree with geo about making coins anon. Do what he says and about the only way they can get you is with social engineering and if you keep your mouth shut then they have no place to start even. They could be constantly monitoring your computer, your phone, maybe even your thoughts. But the btc will be as anon as you will ever need to be 99.8%.

I've been a staunch proponent of bitcoin for years and have given my opinion on this board. I remember when it fell to the 300's I urged everyone to get in because it could shoot up to its former value easily. Took a year or two but it happened. I made a nice piece of change on that, had quite a few coins and sold many of them. Should have kept more or waited longer than I did on some of them but you can't win them all. Grab the loot while its there. And here I am buying more coin all the time. Dont get in now, wait until it hits the magic 10k mark and everyone wants to get on board. To the moon indeed! Even the fools will get rich and the early adopters will get richer. Just imo.

Its got market share, there is money to be made in other cryptos but there is only one bitcoin. Its like vhs got there first, people adopted it and used it. Then came beta, an ironic name given that it got squeezed out of the market despite having a better quality product. VHS pushed constantly for adoption and the fact it was a leader meant that the distant second, third, etc had no shot. Plus beta made some other mistakes but lets not derail the thread. Mea culpa.

The reason I brought up that little story is to illustrate that market dominance in a winner take all game is crucial. If bitcoin had developed some problems which could not be overcome, then the second place or third place coin has a selling point and may win. But as we saw with beta vs vhs, better quality is not enough against high power business tactics and the fact of being there first and known by everyone. Well almost everyone.

I think we all remember the hullabaloo over silk road and especially when it was taken down? Bitcoin played prominantly in that little melodrama. You couldn't get that kind of advertising for a million dollars. Its like the cops basically admitted they couldn't do squat about btc.

Now we have ransomware and once again they do not accept american express, or litecoin or whatever. They always seem to want bitcoin. Now its got like a mafia mystique to it, which draws in the young crowd that the financial part didn't bring in. Smart money was using btc when its advantages made sense. It takes the thundering herd to really make it big. If $18B seems like big money, you aint seen nothing yet. This is still the early adopter stage, smart money will keep coming in for a long time. How long I don't know but I'm putting back a good chunk of what I already made on it back into it at a higher price. Am I nuts or what? dont answer that.


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InvisibleStonehenge
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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: LunarEclipse] * 1
    #24456348 - 07/04/17 09:11 AM (6 years, 6 months ago)

Ripple has been around a long time, never got off the ground.

Do not use coinbase, they have not only ripped off many people already with a gox type fake hack but also are well known to demand and turn over all your info to the govt. They also will close your account for any reason and keep your money or coin as long as they feel like. Send coin from them to lbc or the dark web or gambling or a lot of places and boom, your account is closed. This is all a matter of record, do a little looking around before you hand your money over to those clowns.

If you want to change btc into something else try shapeshift.io they have a good rep so far. Do not leave your coin on any exchange. Leave no more than you can afford to lose. Move it promptly to your own wallet, electrum is good on a computer, mycellium on a phone.

Most coins are pump and dump, ether has some long term possibility, so do monero and lite but its btc for the win.


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InvisibleStonehenge
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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: howsyournaggerdoin] * 1
    #24464565 - 07/07/17 09:30 AM (6 years, 6 months ago)

There is money to be made in lesser coins and new coins if you guess right.

Wall street tried to launch an etf based on bitcoin. Now there is another plan afoot to create a fund investing in crypto coins. From coindesk

Quote:

It appears a trend is taking shape. Following a former Goldman HFT trader's massive initial coin offering, another Wall Street-er has come to the dark side of virtual currencies. A former senior manager at consulting firm Bain & Company, is launching a Bitcoin fund, providing access to the cryptocurrency to some of the wealthiest families in Latin America.




This can only drive prices higher


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24548247 - 08/12/17 01:14 PM (6 years, 5 months ago)

Mining has been mostly unprofitable unless you get cheap electricity.

Good job cashing in at 3950, how did you do that, what exchange? I think it did peak a little then drop back some. I'm not cashing in just yet though I agree a correction seems likely. But as I say, just when you think its certain to dip, it shoots up some more. 4k does sound like a grab the money and run figure, as you have done. I really doubt it will drop to 2900 but that is possible. I own now over 65 coins worth well over 1/4m and I'm still buying. I got some yesterday at ~3400 which seemed like sticking my neck out but up it went.

Its rare for coin or anything to just keep going up with no corrections. But pent up demand, the shaky situation with fiat, currency controls, etc all contribute to its rise. If you are a chinese billionaire who would like to move money elsewhere, what do you do? A few mill purchase could send it up to 5k or more. Then people want to get on the bandwagon as they are doing now. Success breeds success. How would we feel if we sell now and it goes past 10k before correcting? Pissed off no doubt and maybe mad enough not to buy any more until it goes down to 1k, lol. Buy if it dips a little, even back to 3500 which locks in your profit.

What if it zig zags up to 100k and you sold cheap but did not rebuy? If 1B or two gets put into it, that will happen and a B is chump change on the world market. It could be at a tipping point and take off like the proverbial rocket as people learn about it. No doubt there will be some dips along the way, I probably sound like a hopeless fanboy but I put my money where my mouth is and so far so good. If you need the money right away then don't do it, its long term for me, ring the bell or go down in flames. More likely just watch it steadily go up with nail biting dips in between.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24548504 - 08/12/17 03:15 PM (6 years, 5 months ago)

>But candidly, a tiny part of the reason I decided to sell a portion this morning was because of your posts.

Lol, I'm surprised I have even that much influence. While I sometimes sound over the top enthusiastic, its because of the fundamentals as much as performance. I also caution that dips are possible and said again in my last post do not buy if you may need the money back right away. It might go up but it might dip just when you need rent money or food

There is nothing wrong with cashing out part of your holdings, I did not criticize you for that, on the contrary. I did suggest waiting for a drop to 2900 might be fruitless. If it drops that much great but if it did it might keep dropping. You know what they say about catching falling knives. People said a while back they would wait until it goes to 1k again, some are waiting for 1500 and so on. If you can afford to gamble then I suggest going for it. Buy when its going up and it usually keeps going up. Usually

The fundies I keep on about are the fact that besides eth and one or two others, its the only alternative to fiat that makes any sense. Not only has it shown resistance to inflation, it has built in advantages such as ease of transmission, anonymous capability, ease of storage, and fairly easy to buy and sell. Big govt has shown over and over they intend to regulate the hell out of us and monitor everything we make or spend. They also seem hell bent on eliminating cash and forcing us to use their system. Its already happened in india and is ongoing in other countries too.

I'm sure you agree with that in general or you would not put any of your hard earned money into it. You are just a more cautious investor which is the kind who does not get cleaned out very easily. I was doing much the same but decided it was time to get back in before missing the boat. Just today I bought 1k worth, .275 so I got it slightly below spot but paid over 3600 per coin. I was a bit reluctant given the recent spike, I may regret it in a few days but then be very happy in a few months or less. I saw the train leaving the station and wanted back on.

I still have piles of cash from the profits I made already. Not as much as if I didn't sell any of it but buy at 1000 and sell at 1100 then buy back at 1k can't go too far wrong. I just concentrated on selling too much and didn't buy enough If I had only bought and not sold or had immediately reinvested my profit from selling I might be sitting on .5m to 1m just in coin. If my present stash of coin goes to zero I am still ahead of the game though will not be cheering wildly, to say the least.

I advise people to think of it as your retirement money or speculate if you wish. If people had bought when I said it was going to go up a couple years ago with btc at 350, they would be all smiles today. That post is still there. Put it aside and don't worry about ups and downs. Don't invest what you can't afford to lose. Then buckle your seat belts for a wild ride to the moon!!!!!!!


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24548907 - 08/12/17 06:53 PM (6 years, 5 months ago)

Sure its possible that it will drop that much. I'm just saying if you hold out for that price (2900) you may not be able to buy any more of it.

I'm not knocking your charts or stock experience. Charts do have some validity though the formations and predictions seem a little like voodoo to me sometimes. What I say is that first of all this is not a stock. Obvious enough but look at the differences. Stocks are companies that must make profit. They can be ruined by events such as takata and the exploding airbags. Their success often depends on the ceo and management in general. BTC has none of those factors. We can discuss that part.

Its a commodity plain and simple, I think you might agree with that. We need to look at the things which influence its demand. In the case of gold, there are industrial uses as well as jewelry and as a store of wealth. It has drawbacks in that regard.

Its more than just a commodity since supply is more or less fixed unlike any other commodity. OK the fork in a sense created more but not more of the same. It was the creation of a new coin. I've gone over my reasons for its demand, those reasons will not go away and the vast majority of the world has not bought any coin yet and most of the world does not know even what it is.

So we see increasing acceptance and awareness of it along with steadily increasing demand. When you have a very limited supply and a history of increasing demand along with a large need, the result is going to be a steady rise in value. Am I being too simplistic or overlooking something?

The factors that I spoke of; anonymous, easily sent, etc, will only become more important as faith in fiat wanes. We have discussed the reasons fiat is failing perhaps no need to rehash? QE being maybe the biggest reason. Awareness of this and awareness of the advantages of btc are growing and may really take off

What I see realistically is a very rapid rise which seems to have started. I've said over and over there will be dips so we agree there. Right now maybe 2% of the world has used btc and maybe 5% even knows about it. Those numbers might be high, they might be a lot lower right now, maybe 1% and 4%.

At some point it becomes the thing to have for reasons of safety, investment and so on. Then comes the tipping point I spoke of in which those on the fence and those who haven't heard of it hear that its a good thing. You rarely see that with a stock company, maybe a novelty product. This is not a novelty. So when it looks like the smart money is going into it, the trickle becomes a flood. Then at some point the ones who are going to get in for investment or trade have mostly gotten in and the rise levels off

Take cell phones, the market is saturated with them, the rapid rise has already happened and its a mature market. New features are what drive sales. But there is an unlimited supply of phones or can be made with no limit in sight.

In a way its like mixing two chemicals that react with one another but must reach a certain temperature or other conditions to react. A tiny bit starts reacting, the temperature rises, at some point it takes off and you might have an explosion. That is what we have here. We have a much needed financial commodity mixed with a world that needs something like it. As awareness rises, the "tipping point" I spoke of or rapid reaction in the case of chemicals comes closer and finally takes off

It is far from too late to get in and clean up. As I say there is nothing wrong with your cautious approach and I would recommend that for most investors. Yes its easy to look good when the market is going up. I've been looking good in my predictions since a couple years ago and have not backed off. That is a pretty long stretch and I've been told over and over it can't last etc.

>it's pretty much gone to the moon already

That is just the first leg of the journey. Why do I say that? Because the potential demand has not been met even by 1%, the upside is huge. People who don't even know they need this will discover it. People who learn the advantages will use it more as it becomes more accepted. That is another thing that can take off in step with price rise. There are already services that will exchange btc for cash instantly avoiding the price instability which has been one objection to it. When businesses see other businesses taking it and making more money, they want to do the same, just as the consumer does. And the rush is on. Right now we are in the early stages.

I am not the owner of btc, am not plugging my own stock except that the few buyers who might be influenced by our discussion may raise the price by .000001% perhaps. So I'm not plugging it out of greed. I am genuinely sold on it and want to inform our people so they can benefit too.

>While I do believe we will see higher prices for this asset class, there is always an ebb and flow

We seem to be on the same page in some ways with you being cautious clay and me being eager edgar. I can afford to lose my at present .25m in coin, it would hurt but not change my lifestyle so I have little holding me back from going all in as you say. If it takes a dive and then in a year comes back stronger than ever, I'm a winner. If it goes to the moon with some pullbacks then I clean up much sooner than that. And look like a genius but then everyone will say they knew it too. You know it, but you've been burned before and are more prudent than I even though I've been burned plenty myself. I got what I got by going in big when it looks good. The wins have far outweighed the losses.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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InvisibleStonehenge
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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24550072 - 08/13/17 08:32 AM (6 years, 5 months ago)

>If the price falls and builds a base above $2900, I will consider that a new support level and if the price breaks out from that base, I will likely put what I sold today back to work at whatever level that turns out to be.

OK, but what if it never falls, or only slight pullbacks like we saw this morning where it went down to 3950? Then the conditions that you set do not occur or not until a much higher price. You may be reluctant to buy at a much higher price than you sold. I know I was but I did it anyway.

> I would contend that BTC does have unknown risk factors that could affect it similarly to how sudden major liability or mismanagement can negatively impact a publicly traded stock.

Yes, for example the miners deliberately clogging the chain to jack up fees. However, during this period when it was had to move coin without paying a ransom in fees, coin still went up though not as fast. There were also worries about the hard fork aug 1. Any stock that had the track record btc did during the last several month or all of this year would be considered an extremely fast riser. If if goes up that fast battling headwinds, what will it do when it gets a tailwind? It does what we see it doing lately.

The number of "black swans" that can occur are very limited. There can not be major lawsuits against owners or management like what destroyed takata, because there is no central ownership or management. Miners can decide to do things and have but they are not subject to lawsuits and are in most cases anon. The cottage industry of frivolous lawsuits is ruining the country, imo and if people knew how much of their income went indirectly to lawyers and lawsuits they would be furious.

Neither will there be product recalls, factory shutdowns due to strikes or material shortages. There will not be govt ordered halts in sales or use, though they may try. China tried to ban it and yet china is a big buyer of coin. I think they may have rescinded the ban, not sure. Russia too clamped down but is a hotbed of buyers simply because btc is more or less beyond the control of govt

What drives coin is utility as I keep saying. As more places accept it, as more places sell and buy it, as it becomes better known, it gains in popularity. This trend is picking up steam and shows no sign of abating. A merchant can take credit cards, pay the ~3% fee and get more business or take btc, pay the 3% fee and do the same. Customers do not have to worry about their data being stolen and used to buy junk as has happened probably to all of us. That is also a weakness of checks and ach. In addition, the merchant has the choice of keeping the coin and speculating it will rise or just as a long term investment. You do not have that choice with cc's.

>A more efficient and/or robust cryptocurrency could surpass bitcoin's market capitalization and become the dominant player in the space, at the expense of bitcoin.

Yes, and the only significant player at this time is eth which has lagged badly and has its own problems as you pointed out with btc. It becomes a matter of being the dominant player and being there first. I have illustrated that beta was technically better than vhs and yet lost the race though it had a niche, much like eth. Now it too lost out to cds and dvds.

But these are differences in ease of use, why buy a big clunky cassette when you can get a little bitty one that has more storage? VHS tapes can wear out, can go bad, can be erased by stray magnetic fields. BTC does not have those problems because its not a physical item that has physical limitations. Things could still go wrong but the number of ways it can go wrong is much more limited that with a physical product.

So we have a product that avoids the drawbacks of cc's, no limitations in sending, no large fees like wu/mg has, avoids scrutiny by govt, and that last is a big big factor too. It also is anon, another important factor to many, and is a store of wealth. How did wu/mg get so big along with paypig etc? Because they could easily send payment anywhere in the world and are now multi-billion dollar industries despite fees and chargebacks, lack of secrecy etc. They hate btc because it does all that and does it better with minimal fees and full secrecy. It also avoids inflation, another major drawback of fiat and is irreversible. To some that is not so good because with a cc you can dispute, but to those accepting payment, its a huge advantage.

Gold has a long history and is used as a store of wealth but has many problems such as being easily stolen and hard to send. Same with silver and other pm's. The price of gold has been artificially manipulated, imo by govt. According to the news and to rumor, many govts have quietly liquidated their gold stocks to stay afloat. These underground sales do depress prices or gold would be well over 2k, I think.

>Ultimately, there will need to be more widespread adoption (i.e. real world functional business use) to sustain and grow the current market

Of course, you are preaching to the choir on that. The functional use is already there and will only grow as acceptance grows. No one heard of paypig 20 years ago and now its huge despite fierce competition from similar services. It too was one of the first out of the gate and became well known.

I think the little dip we just saw was. as we said yesterday, 4k is a milestone and encourages profit taking. You took some profit and that may have been prudent even though you left money on the table and may buy in later at a higher price. So 4k was resistance, but soon as it breaks through, it shoots to the next resistance, 5k, and once past that, its up up up up.

There I go again, lol :smile: wait and see


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] * 1
    #24550414 - 08/13/17 11:20 AM (6 years, 5 months ago)

Aaaand it has already gone forward past 4k once again. You simply can not stop this train. I made some 18k in the last 24 hours or so. Not bad for a days work wouldn't you say? All aboard, the train is leaving the station.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: tomnl] * 1
    #24551698 - 08/13/17 07:55 PM (6 years, 5 months ago)

Don't feel bad, I sold a lot of btc at 17 then later more at about 170. Man would I like to still have those coins. But I went back and bought more and made up for it. Even made up for mt gox in fact many times over. I'm sure geo would love to have those 40 coins right now too.

Its around 4090 or so at the moment. It dipped again after going past 4k for the second time, more profit takers came out. But the buying pressure will not be denied. I just sold a very substantial amount today and made a nice profit. But only a tiny fraction of my coins. Now I have to rebuy before it shoots up too much. I get a little worried when I sell now thinking I'll lose out on the rise. I prefer to meet people and swap cash for coin. I have ads here and there and its paid off very well. But hodling is the way to go for sure.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24555260 - 08/15/17 08:53 AM (6 years, 5 months ago)

Bummer at missing the 4.5k. I would like to sell some at that price too. Then buy back of course cheaper. How much miner fee did you pay? I find mine go through fairly fast. Even with a tiny fee like 10 to 25 cents per coin it goes through in an hour or two usually now. Pay a dollar a coin or more and it will go faster. Might have been a good time to set the alarm and grab the loot. But it will go back up, you lost nothing.

>I have a small order in to re-enter at $3200, but I still think my original buy target of $2900 has a decent chance of being hit.

I see price moving up not down but with the usual minor pullbacks. A year or two back big percentage drops happened almost regularly, or even 6 months back that might have happened. Coin is in more hands now and one joker dumping a mill or two does not crash the price anymore. It does not make other whales do the same either. Cant say 3200 is impossible, the miners could go on strike or something. Govt might make it a crime to own coin after banks and paypal give a big bribe. It would take something big to drop to 2900 for sure even though it was just there. We will see


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24555391 - 08/15/17 09:57 AM (6 years, 5 months ago)

Its a conundrum, we know its risky to keep coin or cash on an exchange but when a selling or buying opportunity comes along we want to be able to jump on it. You could have made 500 a coin if not for that. Those things can be super annoying. Perhaps the solution is to keep some coin and some cash on the exchange if its a reliable one? I would have been tempted to sell a lot of coin when it spiked and then today would be gloating over the fact I bought it back cheap. Hindsight never is wrong, lol.

Wires go in fast but one of the things I try to do is keep off the radar. I could buy lots of coin maybe even at a discount using wires but banks will shut you down if they suspect you are buying coin or even for too many wires which they think might be part of a scam. I also do not deposit a lot of cash into my accounts. My main account is the safe deposit box. If I get an offer I can grab cash fast and jump on it in person or sell.

>I moved a portion of my BTC to Bittrex was to pick up some NEO coins, a rebranding of China's dominant blockchain AntShares, offering one of the more robust smart blockchain technologies available today: https://neo.org

It might be a good investment. If you like it I should look into it. There will always be competitors to btc but just like the way windoz has dominated the market despite being crappy software, btc is the big dog and will be hard to displace if it ever does happen.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24559237 - 08/16/17 09:42 PM (6 years, 5 months ago)

Good luck hopefully we will all be able to buy more on weakness.

With the segwit activation scheduled for next week, there are supposed to be a number of improvements. For one thing it will be easier to do smart contracts which we don't have yet. The reason for that is complicated and I only skimmed over it myself but segwit will slim down the process removing some obstacles to writing script for said contracts and other features. It will make it easier for miners to load each block to the max profitability and also make it easier for us to figure the best fee to save money. Fees should go down.

They will eliminate signature malleability which in a very few cases could allow a payment once made to be reversed. That is probably why most places want 3 confirmations while we tend to trust 1 or even 0 if we know the person.

The segregated witness part itself keeps data so that each node does not have to process so much junk. This helps in many ways and speeds up the network. It is also supposed to raise block size, gradually I believe, to 2mb or possibly more. They say they may need to do another soft fork later to bring out the max functionality but I don't know about that, when where or how.

All this sounds like good news for btc in general. It should according to the experts make btc more stable now and in the future. Being able to do smart contracts is another possibly important feature. I look for a nice rise in about a week, unless it shoots up before then and drops on the news. Like the old saying says. I would seriously keep a sharp eye on any softness in price with a mind to get back in. Head and shoulders may say different, lol.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] * 1
    #24560051 - 08/17/17 10:15 AM (6 years, 5 months ago)

Come to think of it, this recent shoot up may be in anticipation of segwit being activated since it was approved before the rise. In that case we may see most anything after implementation including a fall. Keep your fingers crossed, geo.

There are various predictions of 10k by years end but no one knows. There is a huge upside waiting since btc is miles away from saturating the market. At some point it will flatten out for sure but that point could be at 50k, 100k, or even 1M. I don't expect to see those numbers for some time, it could take years and in the case of 1m, may never get there.

On the other hand, with some 16m coins in circulation which includes coins that were lost and never will be spent, 1m per coin would only be around 16T at most. That sounds like a lot but that is really the minimum needed to do serious work in the world economy. I'm not saying it will get there but it could. Buy a coin and save it for retirement. I doubt it will get into the stratosphere anytime soon like this year or next but 10k would be high flying compared to the beginning of the year.

Don't invest more than you can afford to lose, you could get phished and lose all your coin or make a blunder and send it to the wrong address. Don't invest money you may need desperately in the near future because coin could drop in the short term.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] * 1
    #24560060 - 08/17/17 10:18 AM (6 years, 5 months ago)

Woah, I no sooner make this post and check the price and coin is doing the swan dive again. Might be time to jump in.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] * 1
    #24560178 - 08/17/17 11:10 AM (6 years, 5 months ago)

Whooops, went back up already. If you blinked you missed it. It was down to about 4200 or under but back to over 4300


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 1
    #24560506 - 08/17/17 01:41 PM (6 years, 5 months ago)

I suspect the stock market has just about peaked right now. Of course I was thinking the same for the last couple years or so and it continues to defy gravity. I think if you cashed out recently and are very cautious about moving back in that is probably the best course.

I've decided to stop buying and selling btc for the moment. Its so unstable which is good for the scalpers perhaps but with the big recent runup, as you pointed out, it could easily give back a lot of its gains. I have a pretty good stash so if it continues to go vertical I'm in decent shape. But nothing ever does that without a pause or slide back. The question of course is when will it fallback and how low will it go? If it goes to 5k before a serious correction then the dip might only be to low 4000's. But it could happen at any time. So while I'm bullish on the long term I think this is a good time to pause a bit.

The limit on number of transactions he speaks of is a major concern with any crypto coin. The segwit improvements will help a lot but in the future it will take further improvements to keep scaling up. They are talking about another soft fork to do just that.

Another possibility is for secondary companies to bear part of the load. We can have bitcoin accounts like they have at the exchanges but do transactions that don't go over the blockchain. If you and your seller both have an account there, you can pay them with bitcoin out of your confirmed balance and it can be credited to his account, he can then send the goods without waiting on the chain. When you deposit to an institution, it would go into their btc account and you have a ledger entry. That means trusting the companies which could be a weak point but if a major firm got behind it people would tend to trust.

This would depend in part on regulation etc which now is uncertain. That is another thing keeping btc down, the uncertainty. If govt backed the btc accounts at major banks and firms such as with fdic, then we will see coin hit heights no one would have believed a few years ago. But that I doubt will happen any time soon.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #24591641 - 08/30/17 08:12 PM (6 years, 4 months ago)

4600 as we speak. Going in bigtime on btc has paid off for me. I have a few ether but not many and even they have gone up nicely. I look for btc to go up nice and steady in the future. No big pullbacks and no rocket fueled surges.

What seems to be happening is many people sitting on the sidelines wishing they had gotten in earlier or hadn't sold so cheap. Soon as they see a little pullback its time to get back on the train. If it goes up too steadily you get some profit takers but the upward pressure is unrelenting.

If transaction fees get out of line, which they are starting to do, then I can see the momentum slowing. Its still a great time to get in but keep in mind its a long term asset not a pump and dump.

Gold too is making its move upward


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24601074 - 09/03/17 04:26 PM (6 years, 4 months ago)

@thedeadwalkk
>Unless something catastrophic happens I don't see the upward momentum for Bitcoin slowing down. Realistically more and more poeple will start to hop on the train, as in the grand scheme of things whether you buy BTC now or 1 year from now you're still an early adopter and will still have insane profit margins to make if you don't panic and sit back for a while.

Agreed. Just a day or two ago I boasted about btc being over 4900. I did say I expected a pullback at 5k as many people see the magic number which may have been their goal and decide to cash in. It was totally expected and normal. It went back to about 4400 and is now just under 4600, a perfect time to get back in or to buy more. I have a deal going now to buy over a coin and another deal brewing. My holdings are fairly high but rather than sell I want more.

I expect the price to surge up again, probably go over 5k again and once more to drop some but not as much as the first time it hit 5k. It fell like a rock no doubt many were waiting on that number. I think the next pullback will be much smaller and then it will go over 5k, and probably wobble back and forth a bit like it did after passing 4k. Then of course the constant buy pressure forces it up making those who sold out feel like they missed the boat. If you don't need the cash hold onto your coin. If you have extra cash to invest it is a good place to put it.

I totally agree we are still early adopters and will be richly rewarded down the road. Don't buy expecting a quick killing on the price, don't buy if you will likely need the money bad in a short time period and are banking on a profit. It may happen that way or you may have need at the precise moment it pulled back and get little profit or have to eat a loss.

For example if you bought at 4900 looking for a short term profit and today the rent is due, you will have a sad face. If you are in for the long term you are fine. Long term being 1 year or more. For me, its long long long term and I expect to become wealthy within a few years on it, whatever wealthy means now days. Used to mean having a mill in assets but that now is barely mid middle class. Although on a world basis owning even 100k puts you in the rich category. Join the upper 10% some day, or even maybe 1%. We can always dream. If coin hits 100k per, then many of us will be up there. Could hit a million per, but I better simmer down before geo gets on my case for being too optimistic. lol. Join in on the excessive optimism and share the wealth.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24603392 - 09/04/17 02:38 PM (6 years, 4 months ago)

Its an excellent time to buy, geo grab it before the opportunity gets away. You can get back in cheaper than for some of what you sold. I seriously doubt coin will drop below 4k. I'm a little surprised it went this low but 5k was apparently many people's target to cash out at and then the drop spooked others who also decided to sell.

They are developing what is called the lightning network. Its smart contracts made possible by the segwit activation. They are still working on the details but here is what they say it will do

*********
Instant Payments. Lightning-fast blockchain payments without worrying about block confirmation times. Security is enforced by blockchain smart-contracts without creating a on-blockchain transaction for individual payments. Payment speed measured in milliseconds to seconds.

Scalability. Capable of millions to billions of transactions per second across the network. Capacity blows away legacy payment rails by many orders of magnitude. Attaching payment per action/click is now possible without custodians.

Low Cost. By transacting and settling off-blockchain, the Lightning Network allows for exceptionally low fees, which allows for emerging use cases such as instant micropayments.

Cross Blockchains. Cross-chain atomic swaps can occur off-chain instantly with heterogeneous blockchain consensus rules. So long as the chains can support the same cryptographic hash function, it is possible to make transactions across blockchains without trust in 3rd party custodians.
********

This will solve the problems that have plagued btc, slow confirmations and high fees. Smart contracts open a whole world of possibilities. No longer will ether or some other coin have a theoretical advantage and no longer will btc face a brick wall of slower and slower transactions. It also stops greedy miners from spamming the network and jacking up fees. The future is wide open now. Get in while the getting is good!


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24603905 - 09/04/17 06:23 PM (6 years, 4 months ago)

TDW, that guy seems to make a lot of assumptions about how tln will work. I see no links to anything backing his assumptions. If the core devs thinsk it will work I need more than an opinion to convince me otherwise particularly since he tries to give the impression he knows more about it than the developers.

The lightning network has not even been worked out yet and many details will have to be gone over. If the devs don't have a finished model yet, how does this guy know how it will work? I assume they know about elementary problems such as johnaldfy or whatever his name is speaks of. Those are obvious things that would come up early on in the planning process. He may be correct in that there might end up being a number of hubs to speed connections but I don't see that being a deal breaker. We will just have to wait and see.

Obviously if it took many hops and each person along the way had to have enough coin in an account then it wouldn't work at all. I don't think the devs are stupid so if they say it will definitely speed up the network I tend to believe them until I see evidence otherwise.

The recent mini crash cost me a lot of money on paper but easy come easy go. People have killed themselves after losing less than that but I'm confident it will go back up and my only concern right now is being able to buy more while its still low. In a week or less the window of opportunity may close at least as far as picking up discount bitcoins. They will still be a bargain for a long time


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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