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NFT: Bitcoin/Crypto

Giants in 07 : 6/12/2019 12:20 pm
Anybody still holding hefty bags?

The mighty Bear seems to have finally relinquished its grasp on the market and the Bull is showing signs of another parabolic run.

However, I can care less about price at this point. Much more interested in how people feel about the market and any possible integration that you've seen in your neighborhoods.

A new survey found that about 7% of Americans know what Bitcoin does. Even less own it. Still a highly speculative market.

And finally here's what I still hold, because I don't want to come off as shilling my favorites: Litecoin, NEO, VeChain.
Until..  
FatMan in Charlotte : 6/12/2019 12:28 pm : link
the market is actually built on concrete revenue - the market will continue to fluctuate wildly.

Until there is a better understanding on Regulatory impacts, more widespread adoption and forward planning, it will continue to be a minefield.
.  
figgy2989 : 6/12/2019 12:28 pm : link
figgy..  
FatMan in Charlotte : 6/12/2019 12:30 pm : link
LOL!!!

Previous bitcoin threads seemingly turn into a contest on whose dick is longer and who has the better investing prowess as they sound like drooling invalids.

The silence over the past few months has been telling. On many levels.
I played with it a bit  
UConn4523 : 6/12/2019 12:32 pm : link
made some, sold, re bought, lost some but didnít sell and now Iíll just see what happens. Donít really care since it wasnít a major investment. I donít have the time to research and follow the swings close enough to make a ton of money. Right now itís a novelty for me, and thatís fine.
FMiC  
figgy2989 : 6/12/2019 12:33 pm : link
Hopefully some BBI folks made money before the bottom fell out. The way some guys/gals were talking, they should be retired by now living the good life on the island they just bought.
Until Crypto  
pjcas18 : 6/12/2019 12:37 pm : link
can comply with KYC and AML regulations it has no mainstream future IMO.

And KYC and AML are sort of the reason crypt exists in general. Crypto became attractive due to anonymity and ability to make purchases unregulated.

Which is exactly what KYC and AML are designed to prevent.

The major banks in the US and Internationally have an obligation to be compliant with those regulations.

I've said all along Block Chain - major innovative opportunities - some being prototyped and/or even in use today.

Crypto - still immature and any currency needs regulation, without it, it's rife for fraud, fluctuation, volatility, and not something I plan to invest in.
Let's invest our money in an unregulated market in digital commodities  
Gary from The East End : Admin : 6/12/2019 12:42 pm : link
I'm nothing bad will happen.
Waiting for Rover to chime in  
figgy2989 : 6/12/2019 12:49 pm : link
Didn't he start daily threads on Bitcoin and his $1K investment asking when will the market go back up?
RE: Let's invest our money in an unregulated market in digital commodities  
Giants in 07 : 6/12/2019 1:03 pm : link
In comment 14470454 Gary from The East End said:
Quote:
I'm nothing bad will happen.


Depends what you mean by ďbadĒ, I guess. Some lost their shirt during the bear market, some tripled their holdings. Itís relative to the personal responsibility that the buyer chose to took.

I can only speak for myself, but I see the volatility as a plus
Volatility..  
FatMan in Charlotte : 6/12/2019 1:05 pm : link
is only a "plus" if you have inside information or get lucky to time it correctly.

Otherwise, it is a variable smart investors try to minimize as much as possible.

And volatility is only a long-term positive if the market continues to grow and develop. If the market evaporates, exactly how is it a positive?
The technology behind Bitcoin  
BigBlueDownTheShore : 6/12/2019 1:15 pm : link
is going to revolutionize the world and already has started to do so.

If they can get blockchain right, I actually believe it will disrupt how we vote, and what we vote on as citizens, it has that capability.

Major markets that have and are going to be changed are Banks, Medical, and Food.
RE: Volatility..  
Giants in 07 : 6/12/2019 1:21 pm : link
In comment 14470476 FatMan in Charlotte said:
Quote:
is only a "plus" if you have inside information or get lucky to time it correctly.

Otherwise, it is a variable smart investors try to minimize as much as possible.

And volatility is only a long-term positive if the market continues to grow and develop. If the market evaporates, exactly how is it a positive?


FMIC, obviously I wouldnít be invested if I thought the market would evaporate so thatís just personal opinion. I hope 99% of the crypto market goes under. But the mainstays arenít going anywhere on my opinion.

I also donít agree on needing to time it perfectly. Again, only using my personal experience, LTC ATH is $420. Bear Market low in 2018 was $22. Even selling at half of the ATH and buying back at triple the bear market low is still monumental gains.

It is harder to time during a bull market but nobody should be selling during clear upswings. TA is not the gospel in crypto but itís still relevant for future moves
Crypto is useful for small black market purchases and that is about it  
Zeke's Alibi : 6/12/2019 1:28 pm : link
With the new regulation in place you can't put in or take out large sums of money without your banks knowing you do. They've already regulated Crypto here in Florida. Need to got through the whole AML process just to buy it/take it out.
RE: RE: Volatility..  
Zeke's Alibi : 6/12/2019 1:31 pm : link
In comment 14470500 Giants in 07 said:
Quote:
In comment 14470476 FatMan in Charlotte said:


Quote:


is only a "plus" if you have inside information or get lucky to time it correctly.

Otherwise, it is a variable smart investors try to minimize as much as possible.

And volatility is only a long-term positive if the market continues to grow and develop. If the market evaporates, exactly how is it a positive?



FMIC, obviously I wouldnít be invested if I thought the market would evaporate so thatís just personal opinion. I hope 99% of the crypto market goes under. But the mainstays arenít going anywhere on my opinion.

I also donít agree on needing to time it perfectly. Again, only using my personal experience, LTC ATH is $420. Bear Market low in 2018 was $22. Even selling at half of the ATH and buying back at triple the bear market low is still monumental gains.

It is harder to time during a bull market but nobody should be selling during clear upswings. TA is not the gospel in crypto but itís still relevant for future moves


Yes, but it is impossible to time these things because they are completely speculative, unless you can figure out which company is crypto dujour.
highly highly  
Metnut : 6/12/2019 1:32 pm : link
volatile but the long-term returns are hard to ignore in this never ending low interest rate environment.

IMO, some crypto is a nice piece to have in the super high-risk portion of your portfolio. the kids putting 50%+ of their networth into it are idiots.
.  
MOOPS : 6/12/2019 2:40 pm : link


"Let's make Bitcoin go up today."
I dont have a huge amount invested  
mattlawson : 6/12/2019 2:42 pm : link
now that you can trade on robinhood with ease on the major players I'd think it's worth short term investing like anything else speculative.

Ether tanked and now its been up 97% the last 3 months. not a bad return if you got it at the bottom.

bitcoin cash up over 200%  
mattlawson : 6/12/2019 2:44 pm : link
bitcoin up 111%


like anything else, when everyone panics and sells, good to have cash to buy in at the bottom.
Fool me once, shame on you  
Stan in LA : 6/12/2019 2:54 pm : link
Fool me twice, shame on me.
RE: Crypto is useful for small black market purchases and that is about it  
Giants in 07 : 6/12/2019 3:09 pm : link
In comment 14470509 Zeke's Alibi said:
Quote:
With the new regulation in place you can't put in or take out large sums of money without your banks knowing you do. They've already regulated Crypto here in Florida. Need to got through the whole AML process just to buy it/take it out.


Posts like these are the reason I smile and continue to DCA. You are living in 2014 if you think that's what crypto and blockchain tech are used for.

You can literally pay your taxes in crypto, buy a house or car in crypto or get paid in crypto in some states, but yeah, only for small black market purchases!
Giants in 07  
Csonka : 6/12/2019 3:18 pm : link
What is the reason for using Crypto for purchases?
RE: RE: Crypto is useful for small black market purchases and that is about it  
FatMan in Charlotte : 6/12/2019 3:37 pm : link
In comment 14470579 Giants in 07 said:
Quote:
In comment 14470509 Zeke's Alibi said:


Quote:


With the new regulation in place you can't put in or take out large sums of money without your banks knowing you do. They've already regulated Crypto here in Florida. Need to got through the whole AML process just to buy it/take it out.



Posts like these are the reason I smile and continue to DCA. You are living in 2014 if you think that's what crypto and blockchain tech are used for.

You can literally pay your taxes in crypto, buy a house or car in crypto or get paid in crypto in some states, but yeah, only for small black market purchases!


Actually combining Blockchain and crypto is more 2014 than anything else.

Don't confuse the two. One is a legitimate technology that extends far past creating currency. The other is a means to pay that is increasingly facing more and more difficulty to execute.
RE: Giants in 07  
Giants in 07 : 6/12/2019 3:40 pm : link
In comment 14470587 Csonka said:
Quote:
What is the reason for using Crypto for purchases?


It really depends. For everyday purchases, I don't think we are there yet in terms of it being a preferred way to pay, and I think it's probably likely that won't be for many, many years. I am big into crypto and have never used it to purchase anything in a store. However, with swapping becoming available, we are starting to see how this can be possible. More info on the link below which outlines how Whole Foods, AT&T and other companies are accepting crypto and instantly swapping it digitally for USD.

However for bigger purchases (such as a house or car) there are some real advantages for using crypto. Never mind the fact that businesses will save money because there's no CC processing fees etc, but generally crypto is easier to track as you can see your coins directly on the blockchain. Faster processing times compared to bank wires. Crypto is also international, no exchange rates or transaction fees etc. Less room for fraud as well as each transaction has to be approved by both parties on the blockchain. It's also inherently decentralized because fuck banks.
https://www.engadget.com/2019/05/14/flexa-spedn-cryptocurrency-app/ - ( New Window )
Wharton has a free online course  
Steve in ATL : 6/12/2019 3:40 pm : link
for cryptocurrency and blockchain.

Quote:
Get a free crash course in the new financial technologies this summer from one of the worldís elite business schools.

The online course is offered for free, but for $79, students can get a certificate of completion if they finish the course in a month.


Link - ( New Window )
Well  
mdthedream : 6/13/2019 6:27 am : link
I agree with the Wise Guy picture its like IPO'S buy them and sell them fast. The dot.com another sketchy investment that people eventually get burned.
I have enough invested  
joeinpa : 6/13/2019 6:43 am : link
In it to be interested. My initial venture 6 x itself in six months. Took out my initial investment left the rest in. Also motivated me to invest more, that has not done well, but am still thinking there s a chance.
RE: Well  
santacruzom : 6/13/2019 11:45 am : link
In comment 14470910 mdthedream said:
Quote:
I agree with the Wise Guy picture its like IPO'S buy them and sell them fast.


That's pretty general. Our company had its IPO about 26 months ago. It's increased almost 600% since then.
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