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Tripsurfer
Bring Back Asante!



Registered: 08/01/12
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] 2
#26866399 - 08/06/20 12:27 PM (3 years, 5 months ago) |
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Just hit a new record for total in holding
-------------------- Ach en wee ben ik de klos, met mijn boog schoot ik een albatros... A philosopher is a person who knows less and less about more and more, until he knows nothing about everything.

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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos] 2
#26871572 - 08/09/20 12:54 PM (3 years, 5 months ago) |
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Back when I was seriously into crypto I had one rule, requested by my spirit guide:
For every 10 units of gold's worth of crypto profit get 1 unit of gold immediately.
That was literally a golden rule. I made money, I made gold, to hedge it. When it did collapse I cashed out in time and still had what was left of my profits and the gold I had bought.
-------------------- Omnicyclion.org higher knowledge starts here
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] 2
#26873482 - 08/10/20 02:31 PM (3 years, 5 months ago) |
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Tezos (XTZ) @ $4.20 and a defacto all time high, when discounting the futures markets that were trading prior to its official release. I am tempted to sell a tranche here, but the funny thing about assets that begin to hit all time highs, is that they tend to continue doing it for a while. Still a relatively low volume asset compared to other assets with a $3B+ market cap, which can result in some unusually whippy volatility. Right now that volatility is acting as rocket fuel, but it could quickly become a meteor falling back down to earth. For those who like to trade more actively, keep an eye on this one.
ETH is flagging nicely here just under $400. A breakout higher would suggest a measured move target of $550.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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ManianFH
living in perverty



Registered: 07/06/04
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] 2
#26873759 - 08/10/20 05:43 PM (3 years, 5 months ago) |
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Quote:
deadwk said: If I had any LINK right now I'd be dumping the fuck out of it. LINK is an alright project, but there's a lot of problems with it. The biggest problem is that you basically have to trust the LINK node is providing you good data, there is no built-in integrity checking mechanism for verification of the integrity after it has been provided, nor is there an economic incentive about providing good data.
The only real "safety guarantee" that is in place with LINK right now is that the chainlink team makes LINK nodes undergo a KYC process to become part of the main set of LINK nodes that requests are sourced to by popular LINK pools. The irony about this is that LINK is supposed to power permissionless networks of oracles, except its not doing that right now and if it was then it would be easy to conduct sybil attacks and compromise the chainlink network.
The only redeeming quality about LINK is that its rather easy to setup (note: this doesn't mean you can become an official LINK node for that you need to pass KYC), and that it has a nice middleware setup to aggregate information from a wide variety of APIs (note: this doesn't guarantee security).
Also LINK requests are stupidly expensive. IIRC the cost for a request made to the LINK oracle network is 1 LINK. So right now a request would cost ~10$->12$ USD.
Woah, thanks for the info. Selling.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ChemicalSpark] 2
#26890179 - 08/20/20 02:24 PM (3 years, 5 months ago) |
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I don't typically like to trade around too actively in crypto. There is generally a lot of correlation between the top assets anyway, and I'd rather not trade hyperactively, which tends to reduce my performance and has the potential to make my tax filings more complicated.
I currently manage three crypto accounts weighted as follows.
Personal:
- 54% BTC
- 22% XTZ
- 17% ETH
- 5% NEO
- 1% NCT
- 1% HBAR
Corporate:
Family:
My personal account is skewed toward BTC because of a sizable claim I have in the MtGox civil rehabilitation proceedings. As I am receiving offers from investment bankers every few months attempting to buy the rights to my claim at a discount, I am confident that a distribution for the recovered BTC (at somewhere between 18-23% of the original loss) will be forthcoming within the next 1-3 years and am including the conservative estimate in my allocation above.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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SynKyd
ctrl-alt-delite



Registered: 09/27/13
Posts: 1,554
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos] 2
#26912729 - 09/01/20 08:24 PM (3 years, 4 months ago) |
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I have lurked this thread for some time, interesting read again in hindsight from p.100 or so to current day..........and bought some BTC this week so y’all may want to sell cause my timing usually sucks!
Actually had $250 in a paper wallet Transaction around $9500 earlier this year that’s doing good, so going to start actively investing weekly and looking a ETH and XTZ to diversify. I am a buy and hold guy, here’s hoping-
Thanks all for the stories and perspectives, no more FOMO here.
-------------------- New inclusive poop emojis from Apple!
   
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: InnerWisdom] 2
#26916188 - 09/03/20 06:38 PM (3 years, 4 months ago) |
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As I mentioned in this thread two weeks ago...
Quote:
geokills said:
It is worth noting that there has been increased correlation with equity markets, and with the S&P now hitting all time highs, in light of a generally shitty macro backdrop but buoyed by exceptionally accommodative and inflation tolerant central banks, there is a risk that a fall back in the global equity markets could catalyze a knee-jerk reaction to raise cash from crypto portfolios as well. Despite whatever short term volatility may persist, I believe the wind is at the back of the crypto sails on account of accommodative monetary policy that further devalues fiat currencies worldwide.
With today came a big selloff in equities, and while it does disappoint me to see that the crypto asset class is confirming some bonafide correlation with traditional equities, it isn't terribly surprising. What will be the tell here, is the relative strength. Which is to say, can crypto recover more quickly than equities? Which asset class will print new highs first? My hope is that, should equities continue to falter, crypto may decouple and stabilize after an initial shock in tandem with other risk assets. But who is to say? My crystal ball has been broken for the entirety of my experience attempting to use the damn thing.
I really don't see anything particularly meaningful to explain today's crypto moves other than the risk-off stance from equities' lead. Bitcoin has been marking time trading mostly sideways for the past month, hovering right around the highs it was printing last summer. While this pullback is faster and deeper than I would have hoped, it presently remains a valid test of $10K, a prior resistance and psychologically significant level that should now hold as support.
Quote:
ChemicalSpark said: I know very little about crypto price trends, or anything really, but the consensus on reddit seems to be that if btc falls below 10.5k resistance level, then there could be a significant pull back. So I’m contemplating setting a stop loss around the 10.4k mark which would hopefully save some capital and allow me to buy back in at a lower price.
While seemingly improbable, for all I know, BTC could be at $5,000 next week (crazier things have happened in crypto history!). That being said, once we've blown out of the bottom of the recent trading range (which was $11100-12000), selling shouldn't be what you're thinking about -- UNLESS you overcommitted yourself and expect to need the money you have committed in the next year. If anything, you should be thinking about incrementally committing additional capital, or otherwise sitting on your hands.
One of the problems with attempting to trade around too actively in crypto, is that the moves are so flippin' fast. By the time your stop is hit @ $10.4K and you've realized it, $10K is hit within a minute or two and then we've bounced right back up to your stop level. Unless you were watching the action in real time and have nerves of steel, you're unlikely to make a profitable swap on that trade. And now you're in cash, having sold within <1% of where the asset is currently trading, after having bounced at $10K. It's not a comfortable position to be in, and if you don't actively trade, or really want to dedicate the time and tremendous emotional energy learning how to do it, it's probably something you should let sit on the shelf.
You can still trade around your core position, but if we've already fallen out of the bottom of the range, forget about it. Instead, when you see your account growing and you start to think to yourself, "Wow this is pretty impressive!" That is the time you should be thinking about taking some profits. Doesn't have to be a lot, just take 10-20% of your trade to the bank. If it keeps raining money, take another 10-20% off. Eventually, you'll be privy to a bloodbath and have the dry powder necessary to take advantage of it.
Easier said than done, but that's the best way to trade, in my opinion. Sell the rips and buy the dips. Occasionally, I do advocate for going in big on an outsized technical trade, and in those instances stop losses will be necessary to avoid catastrophic losses. But generally speaking, if you believe in the overall thesis and you have a long time horizon, don't sweat the swings too much. Just work on your discipline to take some profits when you start to think about "how rich you'll be if this move keeps going", and relish in the satisfaction of putting that money back to work at lower levels, or even at higher levels if there has been a long period of consolidation which has carved out a solid base, that the asset then begins to breakout higher from.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Northerner] 2
#27031153 - 11/10/20 07:22 AM (3 years, 2 months ago) |
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What is investing if not speculating? I find it silly that "speculation" is taken by some as a dirty word, an indication of lacking due diligence or otherwise wantonly throwing money in hopes that "the greater fool" might throw around even more. Speculation is a necessary element of investing. Even for an income investor who buys dividend stocks, s/he is speculating that the company's revenue stream will produce ample cash flow to service payments of that dividend. Likewise with housing, although a tangible asset which will likely maintain some intrinsic value, we still speculate that property demand and thus rents will be high enough to service ongoing maintenance, mortgage and tax expenses. And the small business owner starting their own coffee shop or restaurant? Surely they are speculating that their product will be attractive and consistent enough to bring in the customers that they need to make ends meet (and then something unforeseen like the pandemic hits, requiring adaptation or failure). I will grant you that there are varying degrees of risk across these examples, but I cannot see a situation where some speculative future expectation isn't required to be met in order for the resource allocation to produce a viable return.
On energy and carbon footprints, the energy problem isn't particularly a bitcoin problem, as all global industries have an incentive to move toward renewable energy sources. Successive studies from the University of Cambridge have shown that bitcoin miners are increasingly utilizing renewables in their energy mix. Couple this with layer two solutions and the more traditional payment rails through familiar financial systems such as PayPal, Square, ApplePay, Amazon, Venmo, you name it... as the momentum and public understanding surrounding unbeholden digital money continues, we will have plenty of systems that can provide the infrastructure for the common man's utilization of crypto as a payment method, without even having to post those transactions to the blockchain, thus requiring none of the proof-of-work energy expenditure or transaction limits that keep getting brought up.
As a thought exercise... If bitcoin is a dinosaur, what then is gold? Gold has been here longer than the dinosaurs, is heavy, difficult to physically protect and still consistently inflates its supply by 2,500-3,000 tons of new gold mined each year. The total amount of above ground gold in the world is expected to be just over 190,000 tons. That's 1.3-1.6% inflation rate for an investment in something described as a hedge against inflation (global inflation rates are over 3% in aggregate). This year's bitcoin block reward halving reduced its inflation rate from 3.6% to 1.8%, nearly matching gold, and it will only continue to fall.
The writing is on the wall. With a truly decentralized network fully resistant to both government manipulation and inflation, including the ability to invisibly carry an infinite amount of wealth wherever you go by memorizing 12, 18 or 24 words (i.e. your private key), not to mention the existing financial services world beginning to incorporate easy to use, instantaneous and low or no cost payment rails, I am comfortable speculating that bitcoin isn't going anywhere and that we are still in the early stages of adopting a new monetary paradigm.
Also see: Why Billionaires are Suddenly Accumulating Bitcoin after 113% gain
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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eLeSDenes
Mycelium Expander




Registered: 05/25/11
Posts: 955
Last seen: 1 year, 11 months
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante] 2
#27034590 - 11/12/20 06:11 AM (3 years, 2 months ago) |
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Are you guys so anti-btc because you missed the train and only have full bags of XRP? 
Yes btc might be resourceful intensive to mine, but so is gold and running banks. I understand that there are alts with better and newer solutions, but most of them are just hype and quite frankly, the average people don’t give shit about it. You know at the end of the day, when I want to park my money somewhere, I would want something which been around for long enough and I know for a fact that it is secure and unhackable and will be around in 10-20 years. I also love some of the alts and I think that there are a few which have a large chance to be successful and do 10x-100x but I still have 85% of my portfolio in btc
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eLeSDenes
Mycelium Expander




Registered: 05/25/11
Posts: 955
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ChemicalSpark] 2
#27038177 - 11/14/20 04:24 AM (3 years, 2 months ago) |
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I would be very careful giving out my btc anywhere where I can't ensure its safety. There are lots of coins you can stake with roughly 5-6% gain a year. You can also try lending btc on binance, which only gives you something like 3% but it's a safe option
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Grimsweeper
don't fear the sweeper


Registered: 01/29/18
Posts: 4,843
Loc: broom closet
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SynKyd] 2
#27055145 - 11/24/20 09:12 AM (3 years, 2 months ago) |
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Nice to see XTZ getting traction again.

I went in balls deep on BTC at $15,550 and again at 18. Portfolio is up 1K in the last 24 hours.
-------------------- When you clean a vacuum cleaner you are a vacuum cleaner Build yourself a Flow Hood in these 99 simple steps
 
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: InnerWisdom] 2
#27055305 - 11/24/20 10:38 AM (3 years, 2 months ago) |
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XRP is absolute trash compared to tezos, lol
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Grimsweeper
don't fear the sweeper


Registered: 01/29/18
Posts: 4,843
Loc: broom closet
Last seen: 6 days, 9 hours
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: eLeSDenes] 2
#27060810 - 11/27/20 08:55 PM (3 years, 1 month ago) |
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In for the long haul
-------------------- When you clean a vacuum cleaner you are a vacuum cleaner Build yourself a Flow Hood in these 99 simple steps
 
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eLeSDenes
Mycelium Expander




Registered: 05/25/11
Posts: 955
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper] 2
#27064136 - 11/30/20 08:15 AM (3 years, 1 month ago) |
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Happy Btc all time high day
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
Posts: 69,325
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus] 2
#27064774 - 11/30/20 02:31 PM (3 years, 1 month ago) |
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Niiice Bitcoin Grimsweeper  Stonks!
Quote:
Lophosaurus said: BTC is high now. Remember to buy low and sell high. Seems obvious, but that is easier said than done.

Ive been doing it backwards this whole time! 
just playing
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Grimsweeper
don't fear the sweeper


Registered: 01/29/18
Posts: 4,843
Loc: broom closet
Last seen: 6 days, 9 hours
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu] 2
#27067436 - 12/02/20 12:18 AM (3 years, 1 month ago) |
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You're very generous sharing your knowledge across this thread geo.
-------------------- When you clean a vacuum cleaner you are a vacuum cleaner Build yourself a Flow Hood in these 99 simple steps
 
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu] 2
#27067712 - 12/02/20 08:14 AM (3 years, 1 month ago) |
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Thanks guys, I appreciate the kind words. Of course, it's not all selfless... Sharing what I've learned helps to reinforce the lessons and keep my own mind on point. If you can get to where you can teach others about something, you've probably got a pretty good handle on it.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH] 2
#27082815 - 12/10/20 06:27 PM (3 years, 1 month ago) |
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I think BTC is a good stash away trade... have felt that way ever since I first started using it (on hotdogs and steak dinners... naturally ).
The pull back so far has been rather orderly, although the consistent series of lower highs on the daily chart does indicate that there is quite a bit of supply here (this is corroborated by miner's outflows to exchanges running above average). Even so, the volume over the week as we've pulled back, hasn't been particularly high. That's what you want to see on a pullback, a slow steady re-test of the breakout that eventually bounces on volume.
While I would like to see $18K BTC hold firm, the operative range for longer term consolidation is $16-20K. We might bounce around in that channel for a while. If $16K breaks, $12-$14K comes into play as the next probable support zone. But again, it doesn't look like there is a massive rush to the exits here, just digesting the huge move we saw over the past few months.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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ChemicalSpark

Registered: 10/08/15
Posts: 2,057
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SynKyd] 2
#27091704 - 12/16/20 07:53 AM (3 years, 1 month ago) |
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BTC broke 20k!
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper] 2
#27092050 - 12/16/20 11:55 AM (3 years, 1 month ago) |
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The icing on the cake for me, is that the (now several times delayed) civil rehabilitation plan for the bankrupt MtGox estate was finally filed December 15th and is pending review by the Japanese court. This has been a looooong time coming, and because of the tremendous growth of Bitcoin since the hack (BTC was, I believe, trading somewhere around $1000 at the time), it's stacking up to be a very sweet payday... despite the estate having lost some 80% of its aggregate assets.  
It's pretty interesting... if MtGox was still working and (BIG IF) I had held on through thick and thin, my stake would be closing in on seven figures. But frankly, I'm not sure I would have weathered it as well as it looks to be turning out, by simply having the rug pulled out from under me and the diminished assets frozen from me. Ultimately, at today's prices, I'm looking at a ~1200% return on the money I originally wired to MtGox back in 2013.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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