Anyone fucks with cryptocurrencies?

General discussion, shows, and everything else.

Postby jaredfromsubway » Fri Dec 08, 2017 10:00 am

LTC just shot up to 116
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Postby HOTDOGS_COMINURWAY » Fri Dec 08, 2017 10:34 am

buy bitcoin when it gets low, its been up and down the last couple of days. shoot for like 14 or low 15s
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Postby NALYD. » Fri Dec 08, 2017 10:38 am

With the futures opening up this weekend I would say wait it out and see what happens. A lot of people are expecting a pretty big drop, but who knows.
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Postby pizzapower518 » Fri Dec 08, 2017 11:01 am

HOTDOGS_COMINURWAY wrote:thats what im thinking a little bit, i dont know why i got eth. I probably will scoop some vert because its so cheap


Eth is definitely the "safest" bet because of all it's potential practical applications. Here's a quick article on some examples of that, although the possibilities are endless. Porn, real Estate, and supply chain are three huge ones that aren't mentioned.

https://www.coindesk.com/7-cool-decentralized-apps-built-ethereum/
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Postby xAJXDx » Fri Dec 08, 2017 11:12 am

jaredfromsubway wrote:LTC just shot up to 116


$129.97!
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Postby thathorates » Fri Dec 08, 2017 12:55 pm

redstarohyeah wrote:I have $200. How do I get rich?
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Postby alchemist » Fri Dec 08, 2017 2:24 pm

xAJXDx wrote:
jaredfromsubway wrote:LTC just shot up to 116


$129.97!


:fiesta_bailando
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Postby xAJXDx » Fri Dec 08, 2017 6:29 pm

My partner just asked me to invest $1k for her. 1 Ethereum, 3 Litecoins, 0.007 Bitcoins. Atta girl.
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Postby oldorder » Fri Dec 08, 2017 7:30 pm

$450 invested the day before Thanksgiving has already grown to $700, I wonder if Brooks Brothers accepts bitcoin for the white three piece I want to get.
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Postby alchemist » Fri Dec 08, 2017 7:37 pm

Litecoin pushing $140 now
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Postby Alex 2K » Fri Dec 08, 2017 7:49 pm

If I hadn't been dumb I would have been in for a few when it was less than $100. I want to wait but it could be at like $300 in a few days who knows. ugh money
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Postby xAJXDx » Fri Dec 08, 2017 7:54 pm

Money isn’t real bruh
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Postby Alex 2K » Fri Dec 08, 2017 7:56 pm

xAJXDx wrote:Money isn’t real bruh

big brain
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Postby Alex 2K » Fri Dec 08, 2017 8:44 pm

Finally bought some shit. Gonna wait on BTC though.
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Postby bolster315 » Fri Dec 08, 2017 8:48 pm

Alex 2K wrote:Finally bought some shit. Gonna wait on BTC though.


What did you get? I've been super cautious about buying and am still on the fence. If its anything I've been looking at Ill probably finally take the plunge.
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Postby Alex 2K » Fri Dec 08, 2017 9:24 pm

I PM'd you.
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Postby vomitponx » Fri Dec 08, 2017 10:00 pm

i think now is a good time to buy btc its back down now and it already teased 20k it should have no problem getting to that before the end of the year but then again its crypto and who really knows. the shit is volatile
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Postby Latenightloser » Fri Dec 08, 2017 10:40 pm

Alex 2K wrote:Finally bought some shit. Gonna wait on BTC though.


Dude, same. I'm watching BTC daily - the bubble has to burst, right?

Edit: looking at my portfolio, LTC is making me the most right now. Been hearing talk of a dip this weekend, hoping to pick up some more Sunday. Up 61% vs. BTC at 46% for the week.
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Postby bobcat » Fri Dec 08, 2017 10:55 pm

Buy now sell at 25 or before beginning of year
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Postby HOTDOGS_COMINURWAY » Fri Dec 08, 2017 11:05 pm

Ive heard a few people say to avoid selling on coinbase and go to either localbitcoin or gdex to get a more accurate price but in order to do that you might need a hard wallet
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Postby alchemist » Fri Dec 08, 2017 11:29 pm

Litecoin almost got to $200 a little while ago. Insane.
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Postby dogdicksummer3 » Fri Dec 08, 2017 11:42 pm

I'm having a hard time understanding this and want to understand why people are speculating on these various currencies that seemingly don't really have any use yet other than speculating and dumping it on other buyers. I'm trying to understand and came across this after watching some documentary Banking on Bitcoin on Netflix.

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Postby pizzapower518 » Sat Dec 09, 2017 12:32 am

I try to only check the Eth price once a day because the volatility is so insane. My buddy messaged me to let me know it had matched the all time high of 517. Sure enough half an hour later it's 485.
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Postby Alex 2K » Sat Dec 09, 2017 12:41 am

I'mma be like 50yo and have like 5 BTC, 50 LTC, and 1000 VTC but each is still going to be floating between like 90%-110% of their 2017 value and I'll still be hoping to make "real" money.
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Postby pizzapower518 » Sat Dec 09, 2017 12:50 am

You would think that all the mainstream attention it's been getting lately would be a good thing for the press, at least in the short term, but it seems like the overall fear of the bubble bursting is discouraging a lot of people from actually investing.

It's been such a wild ride there's no possible way to tell what's to come. I'm cautiously optimistic though.
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Postby Alex 2K » Sat Dec 09, 2017 1:08 am

The thing I've been thinking (because I'm naturally optimistic and retiring at 40 would be tight) is that in the next half-ish decade Bitcoin is going to become a much wider used commodity. I also don't think most analysts understand the scarcity factor and that there will eventually only be so much available.

It's been a slow process to get to spend it on "real" stuff, but like most technology with time R&D will make everything about it easier to use and access. The boon it's had in the past year seems to be spurring mainstream interest into potentially getting to that point. This would also plausibly involve an accompanying rising tide for other cryptocurrencies. We see sci-fi stuff using "credits" and other shit along those lines, but this seems like the potential real world genesis of those ideas.

It's not whether it can become something legitimately influential to/in the mainstream, but whether it will be allowed.


I am also completely talking out of my ass and Corporate America (ie banks) will try to stamp it out once it begins to noticeably encroach on their profits.
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Postby Alex 2K » Sat Dec 09, 2017 1:11 am

Reading these past few pages you'd never know that I've never been high.
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Postby bobcat » Sat Dec 09, 2017 3:39 am

one of the many things i've read lately speculated that bitcoin will be sharply curbed by global governments, citing its environmental impact as cause to disallow it, and the superpowers will present government-regulated versions that they'll have control over.

Theres a million different articles, all of which have presented different doomsday scenarios. Why can't it just work out well? Like can I please have been ahead of the curb this time and done all the right things to effortlessly earn a lifetime of money? is that so much to ask?
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Postby rickybomb » Sat Dec 09, 2017 6:04 am

Bitcoin is shit tho, slow and expensive. People are just buying it because of the media hype, when people learn more about crypto and its potential uses, bitcoin is gonna be done. I hope..
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Postby Detlef Schrempf » Sat Dec 09, 2017 6:58 am

rickybomb wrote:Bitcoin is shit tho, slow and expensive. People are just buying it because of the media hype, when people learn more about crypto and its potential uses, bitcoin is gonna be done. I hope..

what coin would you recommend then? i got 1 btc and thats it. i kinda wanna buy some other coin but i dont know which.
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Postby rickybomb » Sat Dec 09, 2017 7:26 am

If I had one bitcoin now i wouldn't sell it i think, it will probably grow alot more in value. People are speculating that it's gonna crash when futures launches tomorrow, but nobody knows with this market. Even if it did it probably wouldn't be down for long. I believe ethereum will be huge later on, but i would never give people advice what to buy because nothing about the crypto market makes any sense.
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Postby Detlef Schrempf » Sat Dec 09, 2017 7:33 am

my only goal is to wait til its like 30k and sell it to buy me a rolex, thats actually why i bought it a while back and i wanna stick to my plans
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Postby CK3count » Sat Dec 09, 2017 8:05 am

Dropped $100 on ETH, $50 on BTC, and $50 on LTC. Had a little extra on my work check this week so it’s worth a prayer.
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Postby Detlef Schrempf » Sat Dec 09, 2017 8:12 am

where can i get ltc and eth? i always go with german marketplaces and i dont know any american
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Postby dogdicksummer3 » Sat Dec 09, 2017 8:30 am

The worst you can do is lose 100% and no idea how much you can profit. I'm seeing serious "FOMO" and all these other smaller currencies are essentially in competition with each other for some actual use down the road.

If you can make a quick few thousand dollars, that's awesome and go get it. I'm rooting for all of you but if I even had $20 or a hundred bucks in any of this I'd have been trying to sell at like 10% target returns and be fine.

To me it just screams speculative bubble and it's even risky shorting these things on the new exchange coming up because of how volatile they are.

Also, from what I've read it seems like people can hype this shit up and each of these currencies has a few majority owners who, if I didn't know any better, are selling to get out and walk away with the serious cash. Someone is going to be left carrying an empty bag though.

That and every other day it seems like some exchange is a scam or hack goes on. It's the wild west but pretty fun to follow.
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Postby Scumontherun » Sat Dec 09, 2017 8:36 am

Question and im sure it has been answered in this thread. How does one "cash out" since crypto currency isn't real pyshical currency how does one exchange for some USD$? Id get into the game if I could understand that. Like people who are "bit coin millionaires" have actually "cashed out" and have millions in their accounts?
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Postby dogdicksummer3 » Sat Dec 09, 2017 8:41 am

pizzapower518 wrote:You would think that all the mainstream attention it's been getting lately would be a good thing for the press, at least in the short term, but it seems like the overall fear of the bubble bursting is discouraging a lot of people from actually investing.

It's been such a wild ride there's no possible way to tell what's to come. I'm cautiously optimistic though.


It's actually the opposite now because the barriers and initial investment levels are low. You're still using actual backed currency with utility to bet on the possible use of these in the future AND that someone else will always be there to buy when you want to sell.

If you had to guess, where would we be on this chart?

Spoiler: show
Image
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Postby dogdicksummer3 » Sat Dec 09, 2017 8:48 am

Scumontherun wrote:Question and im sure it has been answered in this thread. How does one "cash out" since crypto currency isn't real pyshical currency how does one exchange for some USD$? Id get into the game if I could understand that. Like people who are "bit coin millionaires" have actually "cashed out" and have millions in their accounts?


That's why I asked if anyone has done it yet as well. Looks like it is done on exchanges with fees that are unregulated and can walk away at any time. Look up CFPB & SEC complaints and warnings as well as how other countries crack down on these. Some seem more trust worthy than others but are still totally unregulated or guaranteed.

But the allure of 8000% ROI usually blocks out all the skepticism and risks.
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Postby NALYD. » Sat Dec 09, 2017 10:31 am

I have both bought and sold bitcoin. It works like any other stock or commodity. You pay $ to buy it from someone on an exchange, and later, through an exchange someone pays you $ to buy it from you.
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Postby dogdicksummer3 » Sat Dec 09, 2017 11:13 am

Well, of course. Something just doesn't make sense to me yet and I'm not entirely sure how to articulate it. It's probably my risk aversion bias but the whole entire foundation for investing seems to be based on a few premises that aren't clear to me.

Mainly, it seems that the pitch is that there are competing currencies and people are hoping one or two or a few stick around and develop enough of a utility to actually put any intrinsic value in it. Now this is about the currencies, not the use of block chain.

If it's just pure speculation and looking for the greater fool to buy you out then that's the game and I get that.

I'll try my best and hopefully someone can steer me in the right direction to understand better. Here are my basic take aways.

1.) I'm skeptical on the hype where everyday people are now pumping money into something that doesn't really have any utility and something a lot of people buying can't explain.

2.) The exuberance from specific communities are hyper sensitive to criticism and have shown me they don't really understand economics or even currency. Heavily moderated forums and subreddits are warnings.

3.) There is mix of libertarian ideals and anti-bank whatever sentiment in younger demographics who are pretty financially illiterate but are also hungry for anything to make some money, preferably quick. Also their cheering for anything tech plays into it.

4.) Too many shady people, exchanges, hucksters, no oversight, no trust, no backing, no market scale utility and basically every red flag to avoid have popped up.

5.) Every human bias and error that goes into investing are on display and on overdrive.

http://www.slate.com/articles/technolog ... ncies.html
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Postby oldorder » Sat Dec 09, 2017 11:41 am

Hi wet blanket. It's a wild west scenario, you're dumb if you take it too seriously, but why not throw some shit in the pot and see if it turns into gold? As long as you don't put in more than what you're willing to lose you're fine.
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Postby billyxbob » Sat Dec 09, 2017 11:46 am

Doggy dick,

It doesn't make sense since you're literally pouring your money into something with no backing. Not to mention unregulated shit security on the "markets". Cryptocurrencies are a scam, they're a good deal if you need to launder.

I'm up around 60-70k in traditional investments this year. I can't wait for the bitcoin bubble to burst so people stop asking me about the herpes of investment/every mouth breather wishing to mine bitcoin.
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Postby pizzapower518 » Sat Dec 09, 2017 11:54 am

dogdicksummer3 wrote:
pizzapower518 wrote:You would think that all the mainstream attention it's been getting lately would be a good thing for the press, at least in the short term, but it seems like the overall fear of the bubble bursting is discouraging a lot of people from actually investing.

It's been such a wild ride there's no possible way to tell what's to come. I'm cautiously optimistic though.


It's actually the opposite now because the barriers and initial investment levels are low. You're still using actual backed currency with utility to bet on the possible use of these in the future AND that someone else will always be there to buy when you want to sell.

If you had to guess, where would we be on this chart?

Spoiler: show
Image


I really don't think you can apply that traditional logic here and that chart is meaningless. When BTC was $1 you could have made an argument that it was the "NEW PARADIGM!!!" and it had already peaked. Here we are at 15k and nobody has any fucking idea what's gonna happen.

I certainly don't blame anyone for not wanting to take the risk, but it's disingenuous at best to suggest you have the slightest idea what's gonna happen.
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Postby Alex 2K » Sat Dec 09, 2017 1:33 pm

billyxbob wrote:I'm up around 60-70k in traditional investments this year.

congrats bitch
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Postby dogdicksummer3 » Sat Dec 09, 2017 1:42 pm

This was in today's FT. - https://www.ft.com/content/a2c5f07e-dbf ... 4b1c09b482

Worth browsing the comments afterwards.
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Postby NALYD. » Sat Dec 09, 2017 1:43 pm

Alex 2K wrote:
billyxbob wrote:I'm up around 60-70k in traditional investments this year.

congrats bitch


If you had that in bitcoin you'd be up around 6-7 million sooooooooooooooooo

Also cool brag.
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Postby mindlis » Sat Dec 09, 2017 1:52 pm

billyxbob wrote:I'm up around 60-70k in traditional investments this year.


How much you got in savings tho?
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Postby dogdicksummer3 » Sat Dec 09, 2017 1:55 pm

NALYD. wrote:
Alex 2K wrote:
billyxbob wrote:I'm up around 60-70k in traditional investments this year.

congrats bitch


If you had that in bitcoin you'd be up around 6-7 million sooooooooooooooooo

Also cool brag.


If his mother had wheels she'd be a bicycle.
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Postby IThinkItsIndecision » Sat Dec 09, 2017 1:57 pm

I forgot that board can't have nice things.
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Postby oldorder » Sat Dec 09, 2017 2:21 pm

dogdicksummer3 wrote:This was in today's FT. - https://www.ft.com/content/a2c5f07e-dbf ... 4b1c09b482

Worth browsing the comments afterwards.

Hey Scrooge Mcduck, we over here becoming millionaires in cryptocurrencies, we ain't got the existing money to subscribe to your high brow things like the financial times. In short, there's a paywall to your link.
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