Anyone into Cryto currency?

[allan]

Mean crypto.... coffee and keyboard had a go at each other.

Had some good luck with bitcoin and XRP is moving for the first time in a while.

Anyone here into this?

[n25an]

Re: Anyone into Cryto currency?

its a test in patience... so you know I am into it...

[allan]

Re: Anyone into Cryto currency?

its a test in patience... so you know I am into it...

Hodl in wallet or trading with it?

[n25an]

Re: Anyone into Cryto currency?

hodl bitcoin...
and for the altcoins... a rising tide lifts all boats...

[allan]

Re: Anyone into Crypto currency?

Have a look and check out Home - Mirror Trading International

On average 7% growth per month or about 0.4% a day compounding. The bots the broker use are working overtime.
Check on youtube for videos on this company.
If you like ask me for a referral.


Bitcoin expected to double in the next month...

[SalesServiceGuy]

Re: Anyone into Cryto currency?

Bitcoin crossed a new record of $19.000.00 earlier this week.

If you want to learn about cryptocurrencies, I recommend you follow

Uneducated Economist - YouTube

Although not the speaker's daily central focus, he does talk about Bitcoin and the implications of negative interest rates often.

As an investment you are probably too late until the next cryptocurrency crash.

Just a reminder, you cannot take a Bitcoin to the grocery store and buy anything with it.

[Tricky]

Re: Anyone into Cryto currency?

If you like tech its a fascinating subject.

[allan]

Re: Anyone into Cryto currency?

Bitcoin crossed a new record of $19.000.00 earlier this week.

If you want to learn about cryptocurrencies, I recommend you follow

Uneducated Economist - YouTube

Although not the speaker's daily central focus, he does talk about Bitcoin and the implications of negative interest rates often.

As an investment you are probably too late until the next cryptocurrency crash.

Just a reminder, you cannot take a Bitcoin to the grocery store and buy anything with it.

True but you can sell for fiat money. Tax man should have a bit of an issue with this...
Thanks for the channel recommendation will check it out.

[SalesServiceGuy]

Re: Anyone into Cryto currency?

Bitcoin crashes 4%+ for $19,000 to $17,000.00 overnight.

[n25an]

Re: Anyone into Cryto currency?

bitcoin is the bleeding edge of the wave... as it rises the alts stabilize at new highs... what is fractional as a rise in bitcoin can be quite substantial as a rise in altcoins...

my understanding of why bitcoin prices keeps hitting a wall is the mt gox settlement...

in many many years ago in the founding of bitcoin there was a company called mtgox a gaming company... that stole a whole bunch of bitcoins... eventually the guy was caught and his company was taken to the cleaners... and the settlement has been taken care off... one of the finer details of the settlement is that there is a supervising authority over the funds... this authority seems to like to dump a lot of bitcoins on the market every time... bitcoin hits $20000... and at that point cash out the payments to those involved in the suit.... little by little... this has been kind of a holding action against bitcoin price rise... and drives it down...
once that settlement is completely cashed out... there really should be nothing holding bitcoin back... atleast thats my understanding of the situation...

it is hoped that as wall street and the pension funds enter the bitcoin fray they will break this strangle hold on it because they would inject more money to pump than the mt gox settlement can pull out to cause a dump...

I heard that a while back... when I was an avid tracker of bitcoin...

now the question becomes why does bitcoin price rise...?
bitcoin is the canary in the coal mine... whenever there is any economic uncertainty... people dump their money into bitcoin... you can tell what the world is thinking many times just by watching what bitcoin does... later on it might change but thats what it is for now...

[n25an]

Re: Anyone into Cryto currency?

the problem with crypto is that as far as I know there is no way to short the market...
make money as price drops...

if you have enough money and are savvy enough you can do arbitrage... you can exploit price differences on different exchanges... say bitcoin price on one exchange is 20 percent different than on another... then you can buy on the cheaper and sell on the more expensive...

or make money by buying and selling as price increases...
capturing profits say every $500 increase when bitcoin goes on a tear... to $20000
you buy at the beginning of a $500 increase and sell at the end of the increase... and capture the difference... safe bet is the amount you invest stays the same but profit decreases over with each increment but you only lose that if it goes against you... unsafe bet is the amount you invest increases so profit stays the same but if it goes against you you could lose a much larger amount when it does if you aren't fast enough...

or buy extremely cheap alts and keep moving them from one failing altcoin exchange to another... while waiting for the rising tide to lift all boats so you can cash out...

you can try selling bitcoin locally but atleast in the usa... the cops are using that as a sting operation to jail those selling crypto to drug dealers... thereby helping crime interests to wash their cash... and avoid taxes... if nothing else they try and get you on attempted tax evasion... I've heard more than one horror stories on that front...

I am not sure about the link of video games to crypto... it might exists but I have no information on that front so I am not qualified to talk or even speculate on it...

[copiertec]

Re: Anyone into Cryto currency?

Yes, bitcoin, crypto currencies, etc. are not hack proof either, just google how to hack crypto currency. The problem with most crypto and the reason for its appeal is its block chain technology but if you think it's 100% secure...think again. Here is just one article.

US: We've just seized $1bn in bitcoin stolen from Silk Road by 'Individual X' hacker | ZDNet

[copiertec]

Re: Anyone into Cryto currency?

My personal opinion, which may be old school..."if you can't hold it you don't own it."

[n25an]

Re: Anyone into Cryto currency?

My personal opinion, which may be old school..."if you can't hold it you don't own it."

that reminds me of something that I once heard...
you ever wonder why the rich buy jewelry, paintings, watches, stamps, gold, silver, cars etc...
its cause they are easily liquidated for cash if there is a need..
us poor folks think its cause its bling... No... so far from the truth
try going to a bank and saying you need to withdraw a large amount of funds... you are grilled on why you need it... and you might even get a suspicious tracker document sent to the irs... heck if you are old enough... the state might get interested and view you as in need of guardianship... but if you have your own stuff... you can easily liquidate...
also to note... if you use money that smells funny... even though its good currency... you might get reported because the money could be traced back to some illicit activity... bank robbery from 1920s etc... trust me they are trying to cover all bases...

[SalesServiceGuy]

Re: Anyone into Cryto currency?

There is significant belief and some evidence that Crypto currencies will become recognized and used by national governments.

It allows gov'ts to borrow more money.

This opens the door to negative interest rates.

The end result is if you hold cash in your savings account you could actually be charged money to leave it there.

There is a lot to comprehend here and it is definitely buyer beware if you plan to buy some as a get rich quick scheme.

There is something about large scale Bitcoin computer farms in China and around the world that consume large amounts of electricity to somehow "mine" Bitcoins for profit.