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Old 16 August 2017, 06:32 AM   #91
Fredrik
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... in case too many people want to change them for cash at the same time, it will hurt badly. But hey if your timing is right sure you can make a fortune, just like some people did with Law's system...
The thing is that you can't... All the exchanges has limits on how much you can exchange per day. My guess is that there are lots of people sitting on these cryptocurrencies that have a really hard time exchanging them for anything. They need more people buying into them to actually load them off. Basically they are only rich on paper because you can't really buy anything expensive with them and it is hard exchanging any large amounts.

It does work well for small transactions, not for getting rich.

It is not a coincidence that we see all of these advertisements for bitcoin, litecoin etc here. If you could buy a Rolex for bitcoin from a dealer, that dealer would be stuck with funds that could not readily be exchanged or used as it is now. This might change, but we are not there yet.
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Old 16 August 2017, 06:42 AM   #92
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^^^ yeah, I will stick to what I know,great if it turns out ok, but for me you are buying air, just my opinion, maybe I will regret in 10-20 years not having put 50k in them, who knows...
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Old 31 August 2017, 01:08 AM   #93
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Interesting thread to go through.

It seems that there were a couple of vocal "newish" members to TRF strongly advocating cryptocurrencies.

I do wonder how value was and is being created? There seems to be no securitization of the coins value, acceptance is low and cashing out remains questionable. I no nobody who has cashed out on their positions, or a part of their positions.

Money is being made for sure, but this is based on a market that matches supply and demand with no value creation.

But, hey, people enjoy taking a punt and if you get in early, and demand is strong, you will make money on the train of ICOs upcoming.
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Old 31 August 2017, 01:46 AM   #94
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My ex-wife. Absolutely cryptic. She says she spends "about fifty" but that can mean anything up to $89.50 ... And "seventy-five or eighty" runs over $125 billed.

Absolutely cryptic.
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Old 31 August 2017, 01:54 AM   #95
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My ex-wife. Absolutely cryptic. She says she spends "about fifty" but that can mean anything up to $89.50 ... And "seventy-five or eighty" runs over $125 billed.

Absolutely cryptic.
What does this even mean?
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Old 31 August 2017, 02:03 AM   #96
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Interesting thread to go through.

It seems that there were a couple of vocal "newish" members to TRF strongly advocating cryptocurrencies.

I do wonder how value was and is being created? There seems to be no securitization of the coins value, acceptance is low and cashing out remains questionable. I no nobody who has cashed out on their positions, or a part of their positions.

Money is being made for sure, but this is based on a market that matches supply and demand with no value creation.

But, hey, people enjoy taking a punt and if you get in early, and demand is strong, you will make money on the train of ICOs upcoming.
I have successfully cashed out a portion of my investment. I was very weary of the whole process as well until i was able to realize the gain.

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Old 31 August 2017, 02:33 AM   #97
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Bitcoin and ethereum here
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Old 31 August 2017, 02:37 AM   #98
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Bitcoin and ethereum here



Just got in both myself.


Not looking to make millions-but I will buy and hold.


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Old 1 September 2017, 06:00 AM   #99
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I have successfully cashed out a portion of my investment. I was very weary of the whole process as well until i was able to realize the gain.

JPS
Oh, that's great!

Would you mind telling us how? I am curious. Also, a portion? Is there a reason you will not or can not cashed out more of it?
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Old 1 September 2017, 06:01 AM   #100
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Oh, that's great!

Would you mind telling us how? I am curious. Also, a portion? Is there a reason you will not or can not cashed out more of it?
Its actually not hard to monetize or trade around all the large cap currencies, pretty standard through any of the major crypto exchanges (Coinbase, Kraken etc) --- no different than E-trade.
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Old 1 September 2017, 06:24 AM   #101
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For me, I cash in and our through coinbase/gdax. You can wire funds in, or do an ACH from your bank account.

For the larger currencies they are easily bought and sold on both coinbase and gdax. Gdax has lower fees per trade. For the smaller currency, I send Bitcoin to Bittrex and buy them there.

In order to cash out of those, they need to be sold on Bittrex and then sent back to Coinbase in the form of BTC or ETH.

Does that make sense?

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Old 1 September 2017, 06:28 AM   #102
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Same as above.

I have bitcoin, ethereum, and litecoin in my wallets on coinbase.

All the random others ones on bittrex.

Trade random ones back for bitcoin on bittrex, transfer to coinbase, cash out.
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Old 1 September 2017, 08:27 AM   #103
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Ethereum and Litecoin for me.
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Old 1 September 2017, 09:32 PM   #104
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Well, back in June, when BTC was ~$2600, ETH was ~$350, and LTC was ~$30, I put all of my eggs into ETH. Guess I made the wrong damn decision

BTC now at $4800, ETH at $394, and LTC at $77. Insane.
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Old 2 September 2017, 04:44 AM   #105
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Well, back in June, when BTC was ~$2600, ETH was ~$350, and LTC was ~$30, I put all of my eggs into ETH. Guess I made the wrong damn decision

BTC now at $4800, ETH at $394, and LTC at $77. Insane.
I can see why you made that decision back in june and how the market was favoring ETH at the time. I actually made my girlfriend buy 1 ethereum at that time, I was torn between spending 350$ on ethereum or LITcoin for her... Good thing she doesn't know anything about crypto and doesn't know litecoin price

Diversity is key and Bitcoin is King. Start using some of your ethereum on ICO's that look promising. Those will be big money in the future.


Quote:
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My ex-wife. Absolutely cryptic. She says she spends "about fifty" but that can mean anything up to $89.50 ... And "seventy-five or eighty" runs over $125 billed.

Absolutely cryptic.

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Old 2 September 2017, 05:17 AM   #106
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Its actually not hard to monetize or trade around all the large cap currencies, pretty standard through any of the major crypto exchanges (Coinbase, Kraken etc) --- no different than E-trade.
But there used to be caps on transferring funds to a bank account? They are still in place? When I looked into it there was a daily and weekly cap which made it a lot harder to sell and transfer.
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Old 2 September 2017, 09:37 AM   #107
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But there used to be caps on transferring funds to a bank account? They are still in place? When I looked into it there was a daily and weekly cap which made it a lot harder to sell and transfer.
These basically go away as you trade larger amounts and are a member for a longer period of time
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Old 2 September 2017, 10:01 PM   #108
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First post here on TRF. Be careful with cryptocurrencies, block chain is interesting. However the reason it's crushing is because new investors see that it's hot and are investing in it. Since it's value isn't a true representation of anything physical or an actual corporate equity, the value could crash in a sell off. Stocks are valued based on the speculation of profits by companies. The value of national currencies are somewhat based on the speculation of the GDP among other factors. The value of cryptocurrencies from my understanding are based on the amount of cash flowing in from people investing in it. I personally would make short flips on these and use the profits to invest in more solid assets. The important lesson here is to recognize all investments have seasons, a spring, summer, fall, and winter. Ideally you want to recognize a trend early when it's in the spring season, ride it up through the summer and then profit in the fall. Then once you have profited, work to recognize the next trend and find another investment in the spring season. Perpetuating this idea is the key to financial freedom.
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Old 9 September 2017, 11:51 PM   #109
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First post here on TRF. Be careful with cryptocurrencies, block chain is interesting. However the reason it's crushing is because new investors see that it's hot and are investing in it. Since it's value isn't a true representation of anything physical or an actual corporate equity, the value could crash in a sell off. Stocks are valued based on the speculation of profits by companies. The value of national currencies are somewhat based on the speculation of the GDP among other factors. The value of cryptocurrencies from my understanding are based on the amount of cash flowing in from people investing in it. I personally would make short flips on these and use the profits to invest in more solid assets. The important lesson here is to recognize all investments have seasons, a spring, summer, fall, and winter. Ideally you want to recognize a trend early when it's in the spring season, ride it up through the summer and then profit in the fall. Then once you have profited, work to recognize the next trend and find another investment in the spring season. Perpetuating this idea is the key to financial freedom.
Bitcoin will not go away. It will change the banking system like email has for traditional mail.

I can send someone 100K in BTC anywhere in the world and they will have it within 5 minutes worst case scenario. After 6 confirmations, that worst case scenario 1 hour later money is theirs.

I worked in the banking industry for over 20years. They are still useless in transfers to other countries etc. Takes days to send from Australia to the USA. It shouldnt be that difficult!
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Old 3 October 2017, 10:58 AM   #110
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I am really really excited about what has been happening in NEO.

I have been a long time holder and I feel like it's about to become a really fun ride!
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Old 4 October 2017, 09:58 AM   #111
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This will be an interesting thread to look back at in a couple years :)
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Old 15 November 2017, 07:59 AM   #112
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Hey all.. I just got into cryptocurrency recently. Was considering getting into mining... but will take up tooo much of my time and energy / bills to get afew eth. lol

Anyone else get Electroneums?
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Old 16 November 2017, 05:35 AM   #113
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i love bitcoin!
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Old 16 November 2017, 08:23 AM   #114
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Yeah I bought 4 btc last year and 10 eth and ltc mid this year,
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Old 16 November 2017, 08:29 AM   #115
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Tag

Need to read this
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Old 17 November 2017, 09:32 AM   #116
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I'm going to be cashing out most of my positions in the upcoming months to purchase my first home. Being in my early 20s and living in Los Angeles where the prices of homes are stupid high, it didn't seem like something that was going to happen anytime soon.

Just want to say to the people who just started learning about cryptocurrency to stick with your gut and take the risk. There are going to be many people who hear what you are doing and call it a scam or laugh because they "know" it's going to crash. Let those people keep thinking what they want.
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Old 17 November 2017, 09:53 AM   #117
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Just want to say to the people who just started learning about cryptocurrency to stick with your gut and take the risk. There are going to be many people who hear what you are doing and call it a scam or laugh because they "know" it's going to crash. Let those people keep thinking what they want.
Do you mean people like Buffett commenting last month on Bitcoin?

http://www.foxbusiness.com/markets/2...al-bubble.html
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Old 17 November 2017, 09:58 AM   #118
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Do you mean people like Buffett commenting last month on Bitcoin?

http://www.foxbusiness.com/markets/2...al-bubble.html
No, I mean people like Bill Gates commenting on Bitcoin.

https://www.entrepreneur.com/article/238103
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Old 17 November 2017, 10:11 AM   #119
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No, I mean people like Bill Gates commenting on Bitcoin.

https://www.entrepreneur.com/article/238103
Ah, understood. So you're saying if you had the choice, you would ask Buffett for tech advice and Gates for investment advice.

BTW - Gates is talking about the idea of bit coin better than physical currency, no where does he mention that investing in it at the levels BC trades at makes sense.
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Old 17 November 2017, 10:18 AM   #120
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Ah, understood. So you're saying if you had the choice, you would ask Buffett for tech advice and Gates for investment advice.
Did you read the article you sent? There is only one statement made by Buffett in regards to the matter, which is "You can’t value bitcoin because it’s not a value-producing asset".

As an investor, majority of my investments have been made on companies that I see with promising tech. If you read what Bill Gates has to say, he does not talk about Bitcoin as an investment. Rather, he speaks about Bitcoin because of the Blockchain technology behind it.

I really suggest you read a little more than the 1 sentence that Buffet makes about Bitcoin and learn a little behind the technology that runs these coins.
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