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NFT: Bitcoin/Cryptocurrency Discussion

BigBlue4You09 : 1/3/2018 3:40 pm
Not sure what happened to the other thread so starting this one. Will delete if it's still here and bumped.

ETH just exploded and the current market cap for all coins is insane: $728,247,396,616

Going to be an interesting year for sure.
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Rough day today  
Jim in Scranton : 1/15/2018 6:49 pm : link
Lots of red in my portfolio. Only Siacoin still up for me. Guys, any opinions on EthLend? Itís the second highest coins I have in my portfolio. I am getting slaughtered, down almost $400.
RE: RE: RE: RE: RE: RE: The technology has a role  
SomeFan : 1/15/2018 9:17 pm : link
In comment 13782660 BigBlue4You09 said:
Quote:
In comment 13782635 Heisenberg said:


Quote:


In comment 13782618 BigBlue4You09 said:


Quote:


In comment 13782602 Heisenberg said:


Quote:


In comment 13781894 Giants in 07 said:


Quote:


In comment 13781875 Heisenberg said:


Quote:


Any individual coin? Hard to say. They only have value now because enough people agree they do. If they stop?



If that were true, and I'll use VeChain because it's most recent, then people like Jim Breyer, CEO of Breyer Capital, wouldn't be invested in it.

Follow the institutional money. Scroll down to Crypto - ( New Window )



This logic simply doesn't hold. Because institutional investors are diving into blockchain doesn't mean that any particular coin has an intrinsic value or that the transactional nature of the coins will be a moneymaker in the long run. They're speculating like all of us. And they're doing it the same way they did it in the tech bubble. By getting pre-ICO prices that aren't available to guys on BBI. They'll get in at prices we can't. Make money and when it all comes crashing down it will be mom and pops and maybe dudes on this thread that lose big.



Oh but we can invest in ICO's, VPNs are your friend. And if people here were smart enough they'd take out their initial investment as soon as possible and let the rest ride like I did.



Pre - ICOs. Like, when Facebook had their IPO and the price was 25 (I think?) lots of folks on the institutional side had already arranged deals at prices lower than 25 in exchange for earlier funding. So sure you can try and use your e-trade to get facebook on it's IPO day but the institutional guys are starting out with a profit that you can't match. This is exactly how the tech bubble worked. It's happening again. It'll pop at some point. Let's hope we all make some money before it does.



Sorry, I misunderstood. Like I said, hopefully people are smart enough to take their initial investment out. Actually, smart enough to not even start with money they can't afford to lose. I don't see this thing going anywhere for at least a year.


Agree, if you have money to speculate and want to entertain yourself then go at it. This is all about timing the fluctuations, very much luck.
learning the lessons  
giantfan2000 : 1/16/2018 7:08 am : link
as mark twain once said "history doesn't repeat itself but it often rhymes"

I played stock markets during the dot com bubble and it all seems very familiar --
it was normal for a dot.com stock to move 10-25% in a day - or if you got in an IPO a 100-500% move the day the stock went public. by early 1999 it was impossible to lose in the market if you played a dot.com stock .. but by 2000 most investors were wiped out .. I kept at trading stocks and learned how to be a trader .t

The irony is while Bitcoin and crypto currencies are exploding it is actually a great time to be trading the stock market. I can make more profits from trading weekly options of high beta stocks than any crypto currencies . I have tried to explain this to friends who are in love with crypto currencies but they won't listen

my favorite quote about investing
"Don't fall in love with an investment, no matter how sexy it is"

this is my favorite quote about bitcoin.

"Bitcoin has some of the attributes of a headless currency. Nevertheless, it has no intrinsic value ‒ not even as a collector's item because it is intangible. Nor is it a financial asset like a stock or bond because it has no returns. Its only investment value lies in the possibility of appreciation bestowed on it by those who hold it: it is an asset with no underlying."
The south korea thing is not over.  
Heisenberg : 1/16/2018 8:48 am : link
a ban is still an option, although it seems less likely.
Wow it keeps dropping  
Rover : 1/16/2018 9:58 am : link
Why?

Buy now?
Everything's on sale  
Giants in 07 : 1/16/2018 10:31 am : link
I love cheap coins
Good lord it takes a week to process a purchase?  
Rover : 1/16/2018 1:02 pm : link
On Coinbase? I had no idea.
Is that standard?
RE: Good lord it takes a week to process a purchase?  
UConn4523 : 1/16/2018 1:30 pm : link
In comment 13792450 Rover said:
Quote:
On Coinbase? I had no idea.
Is that standard?


Yup, its ridiculous.
its really the main reason why  
UConn4523 : 1/16/2018 1:32 pm : link
I'm pretty disinterested in spending more time on it. If you weren't in early you are stuck waiting for your application to go through and be verified, or you can't submit anything at all. Its a shitshow.
RE: Good lord it takes a week to process a purchase?  
BigBlue4You09 : 1/16/2018 1:39 pm : link
In comment 13792450 Rover said:
Quote:
On Coinbase? I had no idea.
Is that standard?


Credit Cards are instant but a higher fee. Worth it sometimes.

RE: Wow it keeps dropping  
BigBlue4You09 : 1/16/2018 1:40 pm : link
In comment 13791775 Rover said:
Quote:
Why?

Buy now?


January is historically one of the worst months of the year. Combined with the Korean FUD and an ultra bullish market lately, this isn't a huge surprise. Just hold tight, buy some sales!
RE: Rough day today  
BigBlue4You09 : 1/16/2018 1:42 pm : link
In comment 13791177 Jim in Scranton said:
Quote:
Lots of red in my portfolio. Only Siacoin still up for me. Guys, any opinions on EthLend? Itís the second highest coins I have in my portfolio. I am getting slaughtered, down almost $400.


It's my #1 so I feel your pain big time. Luckily I sold a bunch at the ATH so I can sit tight and not worry. It's too good of a project, it will certainly hit $1 this year in my opinion.
RE: RE: Wow it keeps dropping  
Giants in 07 : 1/16/2018 2:39 pm : link
In comment 13792571 BigBlue4You09 said:
Quote:
In comment 13791775 Rover said:


Quote:


Why?

Buy now?



January is historically one of the worst months of the year. Combined with the Korean FUD and an ultra bullish market lately, this isn't a huge surprise. Just hold tight, buy some sales!


+1

Luckily for me, NEO and VEN have weathered this bloodbath quite nicely but the same can't be said for the rest of the market. Hold on everyone! This needs to happen every so often!
Siacoin is still the only  
Jim in Scranton : 1/16/2018 2:43 pm : link
green in my portfolio, but itís not at a $2.28 profit now LOL.

I think you can use a credit card on Bitstamp, but the fees are even worse than Coinbase.
*now  
Jim in Scranton : 1/16/2018 2:44 pm : link
.
I'm an idiot  
OBJXIII : 1/16/2018 6:29 pm : link
I know nothing about buying these things...where do I learn? What's the first step? BBI gurus please help me out.
whee!!!!!!!!  
Heisenberg : 1/17/2018 9:28 am : link
...
RE: I'm an idiot  
BigBlue4You09 : 1/17/2018 9:31 am : link
In comment 13793252 OBJXIII said:
Quote:
I know nothing about buying these things...where do I learn? What's the first step? BBI gurus please help me out.


Oh man, have a few hours? There's really no quick and easy way to answer this. I started with just doing a ton of my own research, finding Telegram and Slack groups on Twitter, reading blogs, books, etc. Highly recommend this book...


Cryptocurrency Investing Bible $10 on Amazon - ( New Window )
RE: whee!!!!!!!!  
BigBlue4You09 : 1/17/2018 9:32 am : link
In comment 13793749 Heisenberg said:
Quote:
...


I expect this bloodbath to last a little longer but February should be epic.
RE: RE: whee!!!!!!!!  
Heisenberg : 1/17/2018 9:39 am : link
In comment 13793759 BigBlue4You09 said:
Quote:
In comment 13793749 Heisenberg said:


Quote:


...



I expect this bloodbath to last a little longer but February should be epic.


Yeah, regulatory uncertainty is a problem. I think that will take a while to resolve. And then, yes, I think it has at least one more irrational run we can enjoy. I jumped out yesterday morning. waiting to jump back in when it goes even lower.
Any opinions on the best privacy coins?  
widmerseyebrow : 1/17/2018 10:11 am : link
Monero
Dash
ZCash
Pivx
Navcoin

Others?

I know I'm missing a few (although I'm deliberately omitting Verge).
Think we'll get to 8k today.  
Giants in 07 : 1/17/2018 10:15 am : link
I've linked a post from reddit that I tend to agree with regarding the closing of futures contracts later today. Really good in-depth post.

I'd also mention that the last three times BTC fell below its 100 day moving average, it hit its ATH shortly after.

Can't wait to see the bounce this produces.
https://www.reddit.com/r/CryptoCurrency/comments/7qw4ej/my_theory_on_the_real_cause_of_todays_chaos/ - ( New Window )
is ripple shit now?  
GMAN4LIFE : 1/17/2018 10:28 am : link
.
wow just wow  
giantfan2000 : 1/17/2018 10:42 am : link
cryptocurrencies trading is an unregulated market of an asset that has no intrinsic value - 99% of those playing this market are going to lose everything ..

for those who need a history lesson I would recommend this book

Reminiscences of a Stock Operator
it is about the unregulated stock market of the late 19th and early 20th century ..


Reminiscences of a Stock Operator - ( New Window )
It's funny how people like to tell others how to spend their money  
Giants in 07 : 1/17/2018 10:50 am : link
"Here's this book about the stock market even though cryptocurrencies aren't stocks, the markets are night and day different and I have no idea what the technology entails or actually does. Listen to me"
RE: It's funny how people like to tell others how to spend their money  
BigBlue4You09 : 1/17/2018 10:54 am : link
In comment 13793856 Giants in 07 said:
Quote:
"Here's this book about the stock market even though cryptocurrencies aren't stocks, the markets are night and day different and I have no idea what the technology entails or actually does. Listen to me"


Read it before you lose everything!!!
hmmmm  
giantfan2000 : 1/17/2018 11:11 am : link
Quote:
"Here's this book about the stock market even though cryptocurrencies aren't stocks, the markets are night and day different and I have no idea what the technology entails or actually does. Listen to me"


you are 100% correct -- cryptocurrencies are not stocks because stocks have an underlying intrinsic value and cryptocurrencies do not

however both assets are bought and sold in a marketplace
the only difference is stocks are traded in a market heavily regulated by government agency (SEC) to protect investors from fraud , manipulation and outright thievery.

and cryptocurrencies are trading in a completely unregulated marketplace .

but yeah it is all about the underlying technology

Ten years in, nobody has come up with a use for blockchain - ( New Window )
So don't buy any.  
Giants in 07 : 1/17/2018 11:15 am : link
.
RE: is ripple shit now?  
halfback20 : 1/17/2018 11:47 am : link
In comment 13793830 GMAN4LIFE said:
Quote:
.


Based on what I read, Ripple is useful. The coin, XRP, created for Ripple, is useless. Not sure how accurate that is...but that's basically what I read.
CryptoCurrencies have lost  
pjcas18 : 1/17/2018 1:28 pm : link
almost half a trillion dollars in value in 10 days.

while many blockchain and blockchain related stocks have thrived.

My guess, and it's purely a guess based on my field and my experience during the dot-com era, but I think the blockchain survives, the currencies most likely don't. Their utility without the blockchain is nothing, but the reverse is not true.

It will be a fun ride for people who get in early and see massive appreciation for no real reason other than FOMO, but I can see the big banks getting regulation passed and relying on the more well known blockchains for transacting instantaneously and securely.

In the US there is a requirement to "know" your customer so anonymity is not necessarily a good thing and as the technology of the cryptocurrencies evolves away from the initial bitcoin/litecoin (and others) anonymity allure, you're back to big banks and the uniqueness of the cryptocurrencies is only in their crypto algorithm, which won't be enough to commercialize them - at least not as a commodity which is how they're trading now.

cryptocurrencies in the US today are treated as assets, not currencies and treated as capital gains each time they're used, until and unless that gets changed the future is murky at best.

RE: CryptoCurrencies have lost  
Heisenberg : 1/17/2018 1:44 pm : link
In comment 13794156 pjcas18 said:
Quote:
almost half a trillion dollars in value in 10 days.

while many blockchain and blockchain related stocks have thrived.

My guess, and it's purely a guess based on my field and my experience during the dot-com era, but I think the blockchain survives, the currencies most likely don't. Their utility without the blockchain is nothing, but the reverse is not true.

It will be a fun ride for people who get in early and see massive appreciation for no real reason other than FOMO, but I can see the big banks getting regulation passed and relying on the more well known blockchains for transacting instantaneously and securely.

In the US there is a requirement to "know" your customer so anonymity is not necessarily a good thing and as the technology of the cryptocurrencies evolves away from the initial bitcoin/litecoin (and others) anonymity allure, you're back to big banks and the uniqueness of the cryptocurrencies is only in their crypto algorithm, which won't be enough to commercialize them - at least not as a commodity which is how they're trading now.

cryptocurrencies in the US today are treated as assets, not currencies and treated as capital gains each time they're used, until and unless that gets changed the future is murky at best.


I agree with this one hundred percent. Blockchain as a technology is here to stay. But there is nothing about any particular crypto coin that can really provide it long term differentiation from other coins.

That said, there's a little cash to be made here before the bubble bursts.
Dark day today in crypto  
DennyInDenville : 1/17/2018 3:04 pm : link
It'll be okay
RE: RE: CryptoCurrencies have lost  
Giants in 07 : 1/17/2018 3:06 pm : link
In comment 13794184 Heisenberg said:
Quote:
In comment 13794156 pjcas18 said:


Quote:


almost half a trillion dollars in value in 10 days.

while many blockchain and blockchain related stocks have thrived.

My guess, and it's purely a guess based on my field and my experience during the dot-com era, but I think the blockchain survives, the currencies most likely don't. Their utility without the blockchain is nothing, but the reverse is not true.

It will be a fun ride for people who get in early and see massive appreciation for no real reason other than FOMO, but I can see the big banks getting regulation passed and relying on the more well known blockchains for transacting instantaneously and securely.

In the US there is a requirement to "know" your customer so anonymity is not necessarily a good thing and as the technology of the cryptocurrencies evolves away from the initial bitcoin/litecoin (and others) anonymity allure, you're back to big banks and the uniqueness of the cryptocurrencies is only in their crypto algorithm, which won't be enough to commercialize them - at least not as a commodity which is how they're trading now.

cryptocurrencies in the US today are treated as assets, not currencies and treated as capital gains each time they're used, until and unless that gets changed the future is murky at best.




I agree with this one hundred percent. Blockchain as a technology is here to stay. But there is nothing about any particular crypto coin that can really provide it long term differentiation from other coins.

That said, there's a little cash to be made here before the bubble bursts.


Not true. Let's take NEO as an example.

NEO is the platform. By owning NEO, investors generate GAS with each new block added to the chain and with each transaction made on the blockchain. It's called GAS because it literally serves as the gas that makes the platform run. There is a supply of 100 Million NEO, and each one will produce 1 GAS in a span of 22 years, also giving GAS a supply of 100 Million.

In short, holding NEO generates a "dividend" (not really, but easier to understand) called GAS which creates incentives to hold NEO through passive income via GAS. The more NEO you have, the more GAS you generate

Also, companies that want to host their project on the NEO platform will need to purchase GAS, as NEO charges GAS for the storage and operation of tokens and smart contracts.

NEO holders can also manage the network and vote on network capabilities.

So, as you can see, it makes sense to hold NEO, not trade it. And with a very low supply of only 100 Million, there is a VERY VERY low amount being traded on exchanges, as most people simply hold their NEO for the GAS payout. Low supply + High demand = You figure it out.

The VEN network will also generate a "gas-like" dividend called THOR. However, VEN has a supply of 1 Billion coins, so more than NEO, but will likely produce more THOR at a faster rate.

From what I'm reading, you guys have a very general knowledge of the industry as a whole, and not one based in specifics about what coins do what. There are absolutely factors that make coins worth more or better logistically than others.

Sorry if I come off as snobby, but I've never seen more misinformation passed along as fact than I do with crypto.
RE: RE: RE: CryptoCurrencies have lost  
Heisenberg : 1/17/2018 3:49 pm : link
In comment 13794341 Giants in 07 said:
Quote:
In comment 13794184 Heisenberg said:


Quote:


In comment 13794156 pjcas18 said:


Quote:


almost half a trillion dollars in value in 10 days.

while many blockchain and blockchain related stocks have thrived.

My guess, and it's purely a guess based on my field and my experience during the dot-com era, but I think the blockchain survives, the currencies most likely don't. Their utility without the blockchain is nothing, but the reverse is not true.

It will be a fun ride for people who get in early and see massive appreciation for no real reason other than FOMO, but I can see the big banks getting regulation passed and relying on the more well known blockchains for transacting instantaneously and securely.

In the US there is a requirement to "know" your customer so anonymity is not necessarily a good thing and as the technology of the cryptocurrencies evolves away from the initial bitcoin/litecoin (and others) anonymity allure, you're back to big banks and the uniqueness of the cryptocurrencies is only in their crypto algorithm, which won't be enough to commercialize them - at least not as a commodity which is how they're trading now.

cryptocurrencies in the US today are treated as assets, not currencies and treated as capital gains each time they're used, until and unless that gets changed the future is murky at best.




I agree with this one hundred percent. Blockchain as a technology is here to stay. But there is nothing about any particular crypto coin that can really provide it long term differentiation from other coins.

That said, there's a little cash to be made here before the bubble bursts.



Not true. Let's take NEO as an example.

NEO is the platform. By owning NEO, investors generate GAS with each new block added to the chain and with each transaction made on the blockchain. It's called GAS because it literally serves as the gas that makes the platform run. There is a supply of 100 Million NEO, and each one will produce 1 GAS in a span of 22 years, also giving GAS a supply of 100 Million.

In short, holding NEO generates a "dividend" (not really, but easier to understand) called GAS which creates incentives to hold NEO through passive income via GAS. The more NEO you have, the more GAS you generate

Also, companies that want to host their project on the NEO platform will need to purchase GAS, as NEO charges GAS for the storage and operation of tokens and smart contracts.

NEO holders can also manage the network and vote on network capabilities.

So, as you can see, it makes sense to hold NEO, not trade it. And with a very low supply of only 100 Million, there is a VERY VERY low amount being traded on exchanges, as most people simply hold their NEO for the GAS payout. Low supply + High demand = You figure it out.

The VEN network will also generate a "gas-like" dividend called THOR. However, VEN has a supply of 1 Billion coins, so more than NEO, but will likely produce more THOR at a faster rate.

From what I'm reading, you guys have a very general knowledge of the industry as a whole, and not one based in specifics about what coins do what. There are absolutely factors that make coins worth more or better logistically than others.

Sorry if I come off as snobby, but I've never seen more misinformation passed along as fact than I do with crypto.


You're not snobby at all.

I didn't mean that the coins are all the same. I mean, that there's still the fundamental weakness of any individual coin. And that is, there's nothing backing its value and there's a basically unlimited number of potential competitors. What I mean by that is that I could probably get the other engineers on this site together, get some seed money and make BBICoin. It would be different than the other coins out there but only hold value if I can convince others it has value.

So, sure, ultimately the technology may coalesce around a particular coin or more likely a few coins - those may retain some long term value. But most of these coins are being made expressly to try and cash in on the speculation fever. And once the fever subsides, it's gonna be ugly for folks holding those coins, just like stockholders in Pets.com.
I don't think it's snobby  
pjcas18 : 1/17/2018 3:54 pm : link
either, and believe me, I'm well versed in cypto, block chain, and block chain infrastructure and nothing I said is misinformation.

When you have offerings like NEO they cross over beyond pure crypto or ICO's to block chain, and have a much better chance at success, though to my point it won't be because of their crypto it will be because of their network or block chain IMO.

though they're still a Chinese company at the end of the day and while that isn't the kiss of death it once was, many Chinese investments are no longer as risky as they once were it's still a Chinese company.
Heisenburg  
Giants in 07 : 1/17/2018 3:56 pm : link
My bad, you're 100% correct.

And that's exactly what happened this past month. New investors see BBICoin at .02 with no clue if that's high or low or normal or a dip or a pump...nothing. (TRON) They do know that Bitcoin was 15K though, so what's stopping BBICoin from also being 15K?!

Hopefully this crash will do away with those coins and let the legitimately good projects shine through. I'm hoping we start to see a big gap between the top 20 and 21-100.

Your last two sentences is spot on. Apologies for misunderstanding your OP
Pardon my ignorance  
njm : 1/17/2018 4:02 pm : link
But are there any publicly traded companies that are selling picks and shovels to the miners during this gold rush?
Looks like we may be back  
BigBlue4You09 : 1/17/2018 4:36 pm : link
Everything booming!!!
RE: Heisenburg  
Heisenberg : 1/17/2018 4:55 pm : link
In comment 13794407 Giants in 07 said:
Quote:
My bad, you're 100% correct.

And that's exactly what happened this past month. New investors see BBICoin at .02 with no clue if that's high or low or normal or a dip or a pump...nothing. (TRON) They do know that Bitcoin was 15K though, so what's stopping BBICoin from also being 15K?!

Hopefully this crash will do away with those coins and let the legitimately good projects shine through. I'm hoping we start to see a big gap between the top 20 and 21-100.

Your last two sentences is spot on. Apologies for misunderstanding your OP


No worries. It's a complicated subject and I wasn't necessarily being very clear.
yep  
giantfan2000 : 1/17/2018 5:37 pm : link
Quote:
But are there any publicly traded companies that are selling picks and shovels to the miners during this gold rush?


seriously I find it extremely fascinating how cyrpto traders have created this construct with rules and logic that they absolutely believe

without acknowledging the fact that crypto coins have no intrinsic value and tomorrow the whole bubble could come crashing down
RE: Looks like we may be back  
Bchurch : 1/17/2018 9:29 pm : link
In comment 13794449 BigBlue4You09 said:
Quote:
Everything booming!!!


HODL hard my friend. What a great buying opportunity right now.. It's going to be a good year!
njm  
giantfan2000 : 1/17/2018 10:36 pm : link
Quote:
any publicly traded companies that are selling picks and shovels to the miners during this gold rush?


yes $NVDA
RE: RE: Looks like we may be back  
Jim in Scranton : 1/17/2018 11:31 pm : link
In comment 13794683 Bchurch said:
Quote:
In comment 13794449 BigBlue4You09 said:


Quote:


Everything booming!!!



HODL hard my friend. What a great buying opportunity right now.. It's going to be a good year!


I wish I had some extra fiat to throw in the last two days. It's nice to see that I am only $2,000 in the red now. What a freaking bloodbath, but you gotta be patient.
WanChain is about to present at the North American Bitcoin Conference  
BigBlue4You09 : 1/18/2018 10:39 am : link
This is one project that is going to have a huge year.
RE: WanChain is about to present at the North American Bitcoin Conference  
Jim in Scranton : 1/18/2018 10:45 am : link
In comment 13795108 BigBlue4You09 said:
Quote:
This is one project that is going to have a huge year.


I have been following this since it was mentioned a few weeks ago. If I getting this right, you get 740 CPY for one ETH. That comes to about $1.47 per CPY. Isn't that a little high for the public-sale?
I meant WAN  
Jim in Scranton : 1/18/2018 10:47 am : link
.
Weeeeeeeeeeeee  
Giants in 07 : 1/18/2018 10:58 am : link
RE: Weeeeeeeeeeeee  
Jim in Scranton : 1/18/2018 11:01 am : link
In comment 13795144 Giants in 07 said:
Quote:


the red definitely looks better
As an avid and seemingly constant PC builder  
GiantFilthy : 1/19/2018 11:53 am : link
who now has five different systems with different responsibilities setup through the house (even 8 year old KidFilthy is about to get surprised with a third monitor for her gaming PC), fuck cryptocurrency and especially FUCK MINERS!
RE: As an avid and seemingly constant PC builder  
Jim in Scranton : 10:39 am : link
In comment 13796854 GiantFilthy said:
Quote:
who now has five different systems with different responsibilities setup through the house (even 8 year old KidFilthy is about to get surprised with a third monitor for her gaming PC), fuck cryptocurrency and especially FUCK MINERS!


Lots of good deals on pre-builts at the moment.

Check this out Filthy. Also check out the subreddit of the same name. Lots of videos.

https://skyblivion.com/


Anyway, my portfolio is still in the red, but at least it has stabilized. It's not really in the red because from all my gains from XRP.
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