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Thread: Blockchain Tech and Cryptocurrencies

  1. #141
    Interesting day for bitcoin

  2. #142
    I got a few more LiteCoin at 79.00 in that dip***
    Last edited by Screamindemon3; 11-29-2017 at 04:26 PM.

  3. #143
    2&2, can you explain the purpose of a wallet vs keeping everything on coinbase/binance/etc? how does one go about transferring from website to wallets?

  4. #144

  5. #145
    Quote Originally Posted by YoungBuck95 View Post
    2&2, can you explain the purpose of a wallet vs keeping everything on coinbase/binance/etc? how does one go about transferring from website to wallets?
    Software wallet or hardware wallet?

    Basically all long term holds should be in a secure wallet. If Coinbase was hacked/shut down overnight you'd lose everything in that account. If you have a hardware wallet that you've transferred to, those coins aren't going anywhere unless someone knows all your passwords and has control of your wallet to transfer the coins out or you lose/burn the wallet and don't have a backup

  6. #146
    Junior2016!!!!88!!1!!!!
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    Better convert what you got to cash ASAP bros like yesterday

  7. #147
    Quote Originally Posted by JuiceCrewAllStar View Post
    bubble gon burst
    corrections dawg. the panic of most of the sites being down today caused a lot of the decline in value, i think

  8. #148
    Quote Originally Posted by Wakeforest22890 View Post
    Interesting day for bitcoin
    There are few dull ones

  9. #149
    Coinbase is shit, can't buy or sell on any movement, everything crashes.

  10. #150
    Quote Originally Posted by Screamindemon3 View Post
    Coinbase is shit, can't buy or sell on any movement, everything crashes.
    yeah I am not sure what's happening with the website but it has been awful since it hit $10k

  11. #151
    I disagree with you
    ImTheCaptain's Avatar
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    the problem is they didn't expect it to hit $10k and get hounded with buy /sell orders

  12. #152
    Rusty Larue
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    Quote Originally Posted by Screamindemon3 View Post
    Coinbase is shit, can't buy or sell on any movement, everything crashes.
    Haralabob tweeted that it moved into the top 10 on the app store yesterday. No way they could have expected that.

  13. #153
    What coin are we adopting as our own?

  14. #154
    Somebody create Deacoin and we'll pump and dump it.

  15. #155
    Nonny do your thing

  16. #156
    #ClawsIn #ManUp
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    I've started to share my concerns with friends over Bitcoin. Thought I'd share it here as well.

    I think we're getting very close to this bubble popping. There's a couple factors in play.

    1) If I told you that gas was going to increase in price from a couple dollars a gallon to $1000 a gallon. What are you going to do? Are you going drive around and use your gas or siphon it to sell later? That's what's happening with Bitcoin. Virtually no one is using it as a form of currency. But unlike gas or gold, it has no intrinsic value. It's a vicious feedback loop where the more valuable it becomes, the less utility it has.

    2) I've heard a lot of friends get involved because they explain there are lots of very smart people talking about how it's going to continue to increase in value. Well yes, because those very smart people got involved early on. And if you own bitcoin, what are you going to say? You're pushing that the price is going to go up so you can either continue to hold and your investment is worth more or have the price go up enough that you'll eventually sell. And as it is now, there are more people buyers than sellers and hence the price goes up. But eventually, what are those people who got in early going to do? They're going to sell. And that's fine as long as there are still more buyers who believe the price will keep going up. But when they start unloading and eventually there are more sellers than buyers, it's going to crash so fast. A few lucky people will sell at the top, others along the way a bit, but majority will be stuck with whatever the floor is.

    And now what is that floor? Well to the first point, there is virtually no intrinsic value for bitcoin as it stands now. If people aren't using it to transact, it's not valuable. And when you consider all the mining being done (using more energy than some countries) is with the goal of solving the next block and receiving an award of 12.5 BTC, at what point is it no longer feasible for those miners to be participating in the network. The long story is this has the potential to drop down to zero or a few dollars.

    I was bullish on bitcoin from the beginning, especially when it had stabled out in the $350 range. But now it's become nothing more than a speculative (value-less) asset that is primed for a horrific crash.

    End of day, can you make money on Bitcoin? Yes, definitely. And can you buy today and still make money? Yes. But eventually that bubble is going to pop and it's the people buying in now that are going to get crushed. All of the early investors have been playing with house money for months.

    It's impossible to know when and thus I have no confidence but my guess is late January / early February. I do have confidence that it's going to burst and I don't think we're that far away.

  17. #157
    Quote Originally Posted by AnonymousDeac View Post
    I've started to share my concerns with friends over Bitcoin. Thought I'd share it here as well.

    I think we're getting very close to this bubble popping. There's a couple factors in play.

    1) If I told you that gas was going to increase in price from a couple dollars a gallon to $1000 a gallon. What are you going to do? Are you going drive around and use your gas or siphon it to sell later? That's what's happening with Bitcoin. Virtually no one is using it as a form of currency. But unlike gas or gold, it has no intrinsic value. It's a vicious feedback loop where the more valuable it becomes, the less utility it has.

    2) I've heard a lot of friends get involved because they explain there are lots of very smart people talking about how it's going to continue to increase in value. Well yes, because those very smart people got involved early on. And if you own bitcoin, what are you going to say? You're pushing that the price is going to go up so you can either continue to hold and your investment is worth more or have the price go up enough that you'll eventually sell. And as it is now, there are more people buyers than sellers and hence the price goes up. But eventually, what are those people who got in early going to do? They're going to sell. And that's fine as long as there are still more buyers who believe the price will keep going up. But when they start unloading and eventually there are more sellers than buyers, it's going to crash so fast. A few lucky people will sell at the top, others along the way a bit, but majority will be stuck with whatever the floor is.

    And now what is that floor? Well to the first point, there is virtually no intrinsic value for bitcoin as it stands now. If people aren't using it to transact, it's not valuable. And when you consider all the mining being done (using more energy than some countries) is with the goal of solving the next block and receiving an award of 12.5 BTC, at what point is it no longer feasible for those miners to be participating in the network. The long story is this has the potential to drop down to zero or a few dollars.

    I was bullish on bitcoin from the beginning, especially when it had stabled out in the $350 range. But now it's become nothing more than a speculative (value-less) asset that is primed for a horrific crash.

    End of day, can you make money on Bitcoin? Yes, definitely. And can you buy today and still make money? Yes. But eventually that bubble is going to pop and it's the people buying in now that are going to get crushed. All of the early investors have been playing with house money for months.

    It's impossible to know when and thus I have no confidence but my guess is late January / early February. I do have confidence that it's going to burst and I don't think we're that far away.
    Are you bullish on any coin right now?

  18. #158
    I mean, it's not like gold is valued for its utility though

  19. #159
    Quote Originally Posted by AnonymousDeac View Post
    I've started to share my concerns with friends over Bitcoin. Thought I'd share it here as well.

    I think we're getting very close to this bubble popping. There's a couple factors in play.

    1) If I told you that gas was going to increase in price from a couple dollars a gallon to $1000 a gallon. What are you going to do? Are you going drive around and use your gas or siphon it to sell later? That's what's happening with Bitcoin. Virtually no one is using it as a form of currency. But unlike gas or gold, it has no intrinsic value. It's a vicious feedback loop where the more valuable it becomes, the less utility it has.

    2) I've heard a lot of friends get involved because they explain there are lots of very smart people talking about how it's going to continue to increase in value. Well yes, because those very smart people got involved early on. And if you own bitcoin, what are you going to say? You're pushing that the price is going to go up so you can either continue to hold and your investment is worth more or have the price go up enough that you'll eventually sell. And as it is now, there are more people buyers than sellers and hence the price goes up. But eventually, what are those people who got in early going to do? They're going to sell. And that's fine as long as there are still more buyers who believe the price will keep going up. But when they start unloading and eventually there are more sellers than buyers, it's going to crash so fast. A few lucky people will sell at the top, others along the way a bit, but majority will be stuck with whatever the floor is.

    And now what is that floor? Well to the first point, there is virtually no intrinsic value for bitcoin as it stands now. If people aren't using it to transact, it's not valuable. And when you consider all the mining being done (using more energy than some countries) is with the goal of solving the next block and receiving an award of 12.5 BTC, at what point is it no longer feasible for those miners to be participating in the network. The long story is this has the potential to drop down to zero or a few dollars.

    I was bullish on bitcoin from the beginning, especially when it had stabled out in the $350 range. But now it's become nothing more than a speculative (value-less) asset that is primed for a horrific crash.

    End of day, can you make money on Bitcoin? Yes, definitely. And can you buy today and still make money? Yes. But eventually that bubble is going to pop and it's the people buying in now that are going to get crushed. All of the early investors have been playing with house money for months.

    It's impossible to know when and thus I have no confidence but my guess is late January / early February. I do have confidence that it's going to burst and I don't think we're that far away.
    I've had this mentality since the early $100's as well. I was exposed to BitCoin back in 2010/2011, and I thought it was neat that Silk Road had a way to seriously monetize their transactions.

    Since "cryptocurrencies" have become more mainstream, and my investor friends have been keen on getting in - I've remained out. The stock market is volatile enough for me - betting on crytpocurreny at this stage in the game seems way less like blackjack and way more like slots. Neither of which I use as an investment strategy.

    It sucks to miss out on all the #hugegainz, but it is just way outside my risk tolerance.

  20. #160
    #ClawsIn #ManUp
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    Quote Originally Posted by Screamindemon3 View Post
    Are you bullish on any coin right now?
    I think alt coins can definitely have value, but don't have a specific one I'd call out.

    Rather, focus on the process. What are you actually getting with an investment? Is it just speculative or does your token give you any form of ownership? Does the coin have utility value? Are you investing in a whiepaper / powerpoint deck or do they have working technology? Do the founders have previous start-up experience?

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