Cryptocurrency, who has it?

[gabrielnovar]

Originally Posted by powerfunk

You're cool with Ripple being *literally* centralized, but dislike mining because theoretically it can sorta centralize?

Technically Ripple can be held accountable.... Miners are anonymous.

It appears miners aren't subject to any sort of regulation where Ripple company is. So standards are in place.

[powerfunk]

Originally Posted by gabrielnovar

Technically Ripple can be held accountable.... Miners are anonymous.

It appears miners aren't subject to any sort of regulation where Ripple company is. So standards are in place.

Sounds like you don't like anonymity, market incentive-driven self-governance, or the ability to circumvent regulation. Totally valid, but, seems like you just don't like cryptocurrency. That's ok.

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[mrricks]

Originally Posted by beshannon

Why?

Because the economists are saying the stock market declines are a result of tariff questions and Trump’s statement saying he was a “Tariff Man”.

[gabrielnovar]

Originally Posted by powerfunk

Sounds like you don't like anonymity, market incentive-driven self-governance, or the ability to circumvent regulation. Totally valid, but, seems like you just don't like cryptocurrency. That's ok.

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AML KYC will be tough to get around. Treasury put sanctions on Iranian btc accounts.

To be a realist it looks like the FED/treasury has every on/off ramp cornered. Any bank that is trying to fly under the radar will be blacklisted from using USD.

edit: I like crypto I do hold it. Top 4 seem like the best shot.

[beshannon]

Originally Posted by mrricks

Because the economists are saying the stock market declines are a result of tariff questions and Trump’s statement saying he was a “Tariff Man”.

Economists?

So you are saying that if/when tariff issues are resolved and the stock market goes back up then crypto will as well?

Again, why?

[mrricks]

if/when tariff issues are resolved and the stock market goes back up
Yes, but not cryto currencies.
Why? because markets move on "feelings" more than data, IMHO.

[bronzeband00]

Originally Posted by OliveSales

Here is 1 example of a coin and how it works. I personally have not invested in siacoins but like what they are about. In the other forum community im in a lot of them invested in sia 2 months ago and are seeing some huge profit. We have 14-18 year olds investing 5000$ who have 50,000-60,000$ protfolios after 2 months. It's all research and understanding what the coins are about to make the correct investments. All coins have different functions.

http://sia.tech/

care to share more ideas on this siacoin? i was recently tipped off by a friend in the cryptocurrency mining business about investing in Leocoin. so far i have just bitcoins and ripples.

[77T]

Something to ask your exchange admin...who else has access to the cold wallet and the hot wallet.

Interestingly, something few may have known is that the admins for the exchanges may not have through through a death of key person(s)...

https://www.zdnet.com/article/145-mi...96071590469308

Again - not an attack on crypto, just something to share in the spirit of communication.
I certainly had not thought of this...

[gabrielnovar]

Originally Posted by 77T

Something to ask your exchange admin...who else has access to the cold wallet and the hot wallet.

Interestingly, something few may have known is that the admins for the exchanges may not have through through a death of key person(s)...

https://www.zdnet.com/article/145-mi...96071590469308

Again - not an attack on crypto, just something to share in the spirit of communication.
I certainly had not thought of this...

this is all third party failure. Essentially like a broker selling shares of stock but not actually having them.

IMO if you really want bitcoin. Buy it...and store it yourself. Or Stick with Coinbase they seem good, plus money is insured there

or do half and half.

[77T]

It’s a failure akin to a bank. It’s like saying the paper money is OK from the Treasury Dept. but all of your money is gone because the bank can’t find it.

In banking we have regulations and FDIC protections. BitCoin exchanges are all over the board.

I agree Coinbase is at the top of the list, but maybe the best thing is what you suggested. Owners hold their own cold wallets (on a stick or paper) like a stock certificate in mid-20th Century and only cash-in when selling.

But seems like stuffing cash in the mattress.


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[HarryLime]

Did people learn nothing from Mt. Gox?

[gabrielnovar]

Originally Posted by 77T

It’s a failure akin to a bank. It’s like saying the paper money is OK from the Treasury Dept. but all of your money is gone because the bank can’t find it.

In banking we have regulations and FDIC protections. BitCoin exchanges are all over the board.

I agree Coinbase is at the top of the list, but maybe the best thing is what you suggested. Owners hold their own cold wallets (on a stick or paper) like a stock certificate in mid-20th Century and only cash-in when selling.

But seems like stuffing cash in the mattress.


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well here is the thing with crypto you either believe this or you don't

1) You can move millions in theory billions around the world near instantly. Impossible to do with cash


example. I can send money to someone in madagascar right now...I can't do that with my cash.


I personally see it as a better gold, why? because its near impossible to counterfeit a bitcoin. Gold you can (if you want) rip-off gold buying shops and double spent the money before they figure it out (if their machines to verify are broken).



Cliffs:

Who the eff knows buy 1% of port in bitcoin and close up shop and see what happens
hahah

[77T]

Cash is seldom passed across boundaries today, I agree. But it’s equivalent in digital deposits are wired in large sums all the time.

BitCoin isn’t a belief system, it is a method to account for transactions. The difference is no central bank, or regulatory authority, exercises control over the value, the use, nor the storage of BTC.

The practical use case almost always leads to exchanges; therein the issue of fraud risks. Owners have to keep that balance of risk & reward in mind...or cash out as many in this thread have mentioned over the years.


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[SkyJuice]

Originally Posted by HarryLime

Did people learn nothing from Mt. Gox?

Anyone traded with this coy before?

[powerfunk]

Originally Posted by 77T

maybe the best thing is what you suggested. Owners hold their own cold wallets (on a stick or paper)

There's no maybe about it. That's...how significant amounts of bitcoin is properly stored. Period. The fact that people even think there's any other acceptable way to do it is a very modern thing. You don't just, leave your cryptocurrency on exchanges (not big amounts anyway); that's preposterous. There's no reason to do that unless you're just a complete rube who doesn't get the entire point of cryptocurrency. If you want to cash out or trade coins on an exchange, deposit them, trade them, and get it out.

"Not your keys, not your coins" is a saying every crypto enthusiast knows. Meaning, if you don't have the actual alphanumeric key to transmit those bitcoins on the bitcoin network, you're accepting the risk of getting stolen from at any time. Like the Quadriga guy faking his own death and stealing $150mil LOL.

Originally Posted by 77T

seems like stuffing cash in the mattress

Pretty much! You can stuff the cash anywhere you want; the user is in complete control of how secure their bitcoins are. You could have a cold wallet with most of your coins in a safe deposit box, and maybe run a password-encrypted hot wallet on your own PC with some "spending money," etc.

Originally Posted by 77T

it’s equivalent in digital deposits are wired in large sums all the time.

Not 24/7, and not without permission of totalitarian regimes in some cases. Good luck wiring 100 million out of China to someone their government doesn't like, etc.

Originally Posted by 77T

The practical use case almost always leads to exchanges

Well, maybe for now I suppose, but that's a temporary phase. If bitcoin never gets past that phase, then it will have failed. I've bought and spent plenty of bitcoin without an exchange. Why not just accept bitcoin as payment? Well, not that many people actually have BTC to spend. And why not just spend bitcoin for goods and services? Well, not that many vendors accept it. But eventually, there's a certain point on the "critical mass bell curve" where spending bitcoin "as money" becomes practical. We have a lot of user and vendor adoption until/if we get there.

[77T]

Originally Posted by powerfunk

1) There's no maybe about it. That's...how significant amounts of bitcoin is properly stored. Period. The fact that people even think there's any other acceptable way to do it is a very modern thing. You don't just, leave your cryptocurrency on exchanges (not big amounts anyway); that's preposterous. There's no reason to do that unless you're just a complete rube who doesn't get the entire point of cryptocurrency. If you want to cash out or trade coins on an exchange, deposit them, trade them, and get it out.



2) "Not your keys, not your coins" is a saying every crypto enthusiast knows. Meaning, if you don't have the actual alphanumeric key to transmit those bitcoins on the bitcoin network, you're accepting the risk of getting stolen from at any time. Like the Quadriga guy faking his own death and stealing $150mil LOL.





3) Pretty much! You can stuff the cash anywhere you want; the user is in complete control of how secure their bitcoins are. You could have a cold wallet with most of your coins in a safe deposit box, and maybe run a password-encrypted hot wallet on your own PC with some "spending money," etc.







4) Not 24/7, and not without permission of totalitarian regimes in some cases. Good luck wiring 100 million out of China to someone their government doesn't like, etc.





5) Well, maybe for now I suppose, but that's a temporary phase. If bitcoin never gets past that phase, then it will have failed. I've bought and spent plenty of bitcoin without an exchange. Why not just accept bitcoin as payment? Well, not that many people actually have BTC to spend. And why not just spend bitcoin for goods and services? Well, not that many vendors accept it. But eventually, there's a certain point on the "critical mass bell curve" where spending bitcoin "as money" becomes practical. We have a lot of user and vendor adoption until/if we get there.

I numbered the sections to help sort my ideas.

1. Yes we agree. My whole reason for sharing the recent story was to point out another exchange weakness. Consumers have to separate their long term holdings from their BC they use transactionally. Unfortunately, the transactional BC will still have some level of exchange risk exposure.

2. Again, I agree. But so many BC newbies don’t have the best skills in this area.

3. This is a hurdle for any crypto to overcome. That is, if they wish to be mainstream in financial transactions. The owner must know and do more than simple currency.

4. I can’t agree - this isn’t anything that 99.9% of BC holders do - $100 Million? But I get your point about immediacy. The problem is ubiquity - I can do 99% of my xfers w/PP domestically and Zoom internationally. I doubt most BC owners are directly transferring. They are using exchanges as a crutch to avoid learning the in’s & out’s of direct BC xfer.

5. We agree. The paradigm shift may take as long as the time it took to leave precious metal coins and embrace printed currency. But isn’t it ironic that people now hedge crypto and traditional currency-based investment with gold bullion coins?



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[s14roller]

I’m surprised this topic has revived. Has anyone else decided to buy BTC on “the dip”? Seemed to be a few estatic folks last time.

[Daveclock]

I'm glad I missed out on buying at the "wrong time" last year!
I can't believe how much they talk up the steep fall in prices on the graphs I keep being sent/seen in the news on my phone! If nothing else it has taught me a little about describing graphs in ways I never thought possible - doji candlesticks, wedges, etc.
...still glad I did not get involved with Bitcoin - especially as is seems to now cost more to make than it is worth - surely the end is nigh!?

[smak]

I know its poor form and I dont have any inside information that isnt readily available to the general public but i'm calling this as a fantastic time to buy even if you intend a relatively short term outlook investment.

also, this is my only account and I created it primarily for the exchange of rolex and rolex related topics, not including the buy:sell sub forum.

XD

[broken_link]

Originally Posted by smak

I know its poor form and I dont have any inside information that isnt readily available to the general public but i'm calling this as a fantastic time to buy even if you intend a relatively short term outlook investment.

also, this is my only account and I created it primarily for the exchange of rolex and rolex related topics, not including the buy:sell sub forum.

XD

You were correct so far, weren’t you? ;-)

[gabrielnovar]

IMO do 1% or buy 1 bitcoin and ice it.

if this thing does to zero you lose 3900 ....if it goes to 100k like everyone claims it will thats a few daytonas lol

this way you don;t lose sleep over it. Obv adjust risk tolerance if you can handle steeper losses

[mbrown55]

i have dilithium crystal futures.

[bronzeband00]

Originally Posted by OliveSales

I bought into ETH at 75$,130$,150$,160$,180$,220$,250$

Currently have 40 coins. Plan on buying more before it hits 300

Great move. I'll keep my eyes on it too

[gabrielnovar]

last post march. Signaled the bottom lol

time to get more rolexes

[smak]

Hey all I do believe its a good time to revisit this thread.

If anyone cared to follow my previous post on Feb 10, they did quite well for themselves.

In fact I don't think it's possible to have lost money at all if you subscribed to my theory as the price was at no point lower than when I suggested people invest in the post only a few replies above this one.

I havent had time to post here or play with my usual hobbies due to someturbulent times and I wish I had a ton of resources to throw in to my own gut feeling, but at least see an oppourtunity to share another nugget with you all so that you may hopefully get a chance to gain.

The possibility for a considerable increase in Bitcoin's value in the near future is pretty definite.. and it wont be a flash in the pan.

Due to how the technology functions, the "block reward" which is integral to how bitcoin and its blockchain works (like a pulse or heardbeat) is nearing a landmark time where every four years the quanity of minted coins released, is halved.

When my interest was piqued in Bitcoin initially, the block reward was 50BTC. It is now 12.5BTC and in the first half of next year it will be down to single digits, 7.25BTC.

There is an old Forbes article about it here: https://www.forbes.com/sites/forbesf...ice-of-bitcoin

You can see a chart with price history and real time activity here: https://bitcoinwisdom.io/markets/bitfinex/btcusd

I suggest when searching the web for info on any crypto you use a VPN to mask your location and IP address. I like "Private Internet Access" they have plug-ins for everything.

Full disclosure also, what I am professing here is not secret or a surprise at all. Everyone knows the block reward is set to halve, some will argue that the cost and value of Bitcoin is already "priced in" and unlikely to change much.. but I disagree.

It is very possible there will be a big roller coaster ride in the market leading up to the next stable value of Bitcoin, and the market (exchanges) are still horribly regulated, but if you can get yourself a coinbase.com account on a secure computer and load it with some bitcoin, and then forget about it for a year i think you will be very happy with the result.

Thats it, I hope you all are responsibly enjoying yourselves, your family, your hobbies, hopefully not any mistresses.

Please don't go ahead and morgage your future on this advice.. there are misnomers out there like googles new quantum computer and of course all the market manipulation which can be detrimental to value..

Good luck!

[SADDLE]

Bump....

Anyone viewing crypto as a “safe haven” given what’s going on in the world and how it has performed over the past 48-72 hours?

[SPMN]

Originally Posted by SADDLE

Bump....

Anyone viewing crypto as a “safe haven” given what’s going on in the world and how it has performed over the past 48-72 hours?

No. It’s had a good week, but Bitcoin dropped a third over the last two weeks. Crypto investors are generally younger than traditional investors, and you could assume less wealthy than traditional investors, thus more likely to pull their money out of crypto to remain liquid. I think it’ll drop again and hover around the 5k mark for a bit.

But I think it’ll be very bullish during the recovery. As people look to invest again, bitcoin will be rising, leading to more news stories, new investors, another run, etc.

[herts9]

Buy platinum, if you can find it!

[Jona]

I'd rather be the only woman on a Greek freighter than get involved with such nonsense that simply plays into people's greed. It's one of the 7 deadly sins for a reason.

[gabrielnovar]

bitcoin rallying would freak everyone out