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Let's talk cryptocurrency

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Let's talk cryptocurrency
Tue Dec 12, 2017 11:14 am
  • Cryptocurrencies are making huge waves in the investment and finance world. Some of the more successful projects, i.e. Bitcoin, Litecoin, Ethereum, and a few others, are really rewarding the people who opted to take on the risk and charge head first in to a market with unknown potential.

    I'm curious to hear what other people think about this technology. Personally, I hail from a background that is both extremely technologically savvy, but also intimately familiar (and disdainful of) the banking industry. I see the potential for this technology to insulate us from the ravages of inflation wrought upon us by unelected oligarchs in the banking industry.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Tue Dec 12, 2017 11:31 am
  • Even just a couple months ago when it felt like it was too late and I'd missed the boat and didn't buy it still wasn't really too late and I probably should have. Shit's so conflicting though.
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Re: Let's talk cryptocurrency
Tue Dec 12, 2017 12:04 pm
  • I know that feeling. I totally missed the boat on Bitcoin. My strategy has been so far to ignore investing in Bitcoin as I see that tech as a great proof-of-concept but it has a number of technical limitations that are rearing their ugly head now, potentially impacting its usability as an actual currency, plus a bitterly divided developer community. It's still a good store of value but as an investor the value isn't terribly lucrative to me and I'm certainly not going to risk 10k+ to ride the wave.

    What I ended up doing was buy in to Ethereum around $180-$200 each and played the market volatility when GDAX still permitted margin trading. I used the scratch generated from that to buy some Litecoin, and now I'm holding on to a bit of both. It's been an exciting week for Smokin' as both Ether and Litecoin are breaking out of their holding patterns and shooting for the moon.

    We could very well be looking at a huge market bubble, but I am hesitant to say so. The global currency market represents many, many trillions in market capitalization and trust in crypto as a means to store value is only growing more mainstream.

    For the first time ever I transferred crypto assets from GDAX, an exchange that specializes in USD, EUR to BTC, LTC, ETH transactions, to Bittrex, an exchange that specializes solely in facilitating crypto-to-crypto trades. The amount of money moved was small but not trivial and cleared in to Bittrex within an hour where it was used to buy in to a few emerging crypto technologies with interesting use cases not covered by the "Big Three".

    It's my belief that while regulations may be looming from the SEC and FTC, this tech is here to stay and it's a good idea to invest at least a small amount of money in to something with promise and potential for growth and adoption. If you have $1000-$2000 you can afford to lose, this is your play.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Tue Dec 12, 2017 3:52 pm
  • I don't get why buying it is so complicated. I downloaded what was supposed to be one of the higher rated "easy to use" software apps on my PC, and when I opened it I was greeted with all kinds of menus and options with verbiage that made 0 sense to me.

    I should be able to just sign up for an account like Paypal, and click "buy currency", and then buy it. I don't get why it's so complicated???
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Re: Let's talk cryptocurrency
Tue Dec 12, 2017 3:56 pm
  • fenderbender123 wrote:I don't get why buying it is so complicated. I downloaded what was supposed to be one of the higher rated "easy to use" software apps on my PC, and when I opened it I was greeted with all kinds of menus and options with verbiage that made 0 sense to me.

    I should be able to just sign up for an account like Paypal, and click "buy currency", and then buy it. I don't get why it's so complicated???


    You can. Coinbase/GDAX are a USA based exchange that will do USD to BTC, LTC, and ETH transactions. The wallet software is needed to transfer the digital assets away from the exchange for "safe keeping".
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Wed Dec 13, 2017 9:06 am
  • Is anyone else completed weirded out about Satoshi Nakamoto? That this guy who created Bitcoin is anonymous? Who is this guy? Why.

    How was all this money and wealth created out of nothing? It's like Weird Science, instead of Kelly LeBrock, they created $$$ on their computers. I'm having trouble wrapping my head around all this. Money has always been backed by gold in a vault, and by a sovereign nation. Now its not? Now its just digital? I mean right?
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    I was actually reading this, this morning, this guy says he has a source, who claims the NSA and Homeland know who he is.

    https://medium.com/cryptomuse/how-the-n ... 8affcef595


    But regardless, yes I've been buying lately. :D
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Re: Let's talk cryptocurrency
Wed Dec 13, 2017 12:44 pm
  • twisted_steel2 wrote:Is anyone else completed weirded out about Satoshi Nakamoto? That this guy who created Bitcoin is anonymous? Who is this guy? Why.

    How was all this money and wealth created out of nothing? It's like Weird Science, instead of Kelly LeBrock, they created $$$ on their computers. I'm having trouble wrapping my head around all this. Money has always been backed by gold in a vault, and by a sovereign nation. Now its not? Now its just digital? I mean right?
    Image



    I was actually reading this, this morning, this guy says he has a source, who claims the NSA and Homeland know who he is.

    https://medium.com/cryptomuse/how-the-n ... 8affcef595


    But regardless, yes I've been buying lately. :D


    I don't blame the person(s) known as Satoshi Nakamoto for wanting to remain anonymous. When creating a technology that has the potential to literally unseat the banking oligarchy, it's sound operational security to protect your identity. Historically, bankers haven't willingly allowed their power to be taken from them and have used all manner of dirty tricks to keep it. I personally don't care where the tech came from so much as I care about the fact it's open source, heavily vetted, and functional as a store of value.

    Over the past decade or so I've studied intently, the origins of money. The gold standard hasn't been a "thing" for quite some time now. When the Federal Reserve Act was passed in 1913, it began the unwinding of the gold standard, which was finally fully abolished in 1971. Now, the only thing backing our money is the debt attached to its creation when the treasury holds a bond auction.

    What gives money value is a few simple things: demand, trust, and liquidity. Demand for a currency is fuelled by the market of things it can be used to buy. Trust for a currency is established through its stability, reliability, and security against counterfeiting. Liquidity is determined by how frequently and readily the money is exchanged for goods, services, commodities, or other currencies. As such, cryptocurrencies like Bitcoin and Ether are proving to be exceptional stores of value as they fulfil all three. Let's break down why.

    Demand - Pretty self-explanatory. Right now, demand for crypto assets is fuelled by speculation and the potential for capital gains. While some enterprising retailers have launched mostly unsuccessful programs to exchange Bitcoin for goods, the failure is owed largely to the high fees intrinsic to processing payments on the Bitcoin network. In the next year, you can expect to see retailers beginning to accept Litecoin, Ether, and Ripple as payments since the fee structures of each are more conducive to e-commerce and the speed of the network is sufficient for it as well. Expect demand for cryptocurrency to increase.

    Trust - I don't know about you, but I find crypto assets to be inherently more trustworthy than paper money. I'm not a mathematician, so I'm unable to eloquently explain the hows and whys of the whitepapers, but I'll try to sum it up. Most, but not all cryptocurrencies have a hard cap on the total number there will be allowed in circulation. With BTC, that number is something like 21 million once all have been mined, but only <17 million are presently in circulation. The scarcity of a bitcoin relative to the US Dollar (with literally tens to hundreds of trillions in circulation) is a huge part of why its value is so high. Its protection from counterfeiting is second to none with quantum computing representing the only credible threat, though some enterprising minds have begun implementing quantum-proof algorithms (ternary state math) in anticipation of the forthcoming breakthroughs in QC. I find the technological solution to be a graceful departure from the fast, cheap money philosophy of today's modern banking industry that prints money from thin air on a whim.

    Liquidity - Most exchanges, particularly GDAX and Bitstamp, have extremely healthy trading ecosystems with massive amounts of liquidity. GDAX sees more than a billion dollars change hands on their busy days, and their rate of growth is massive. Market orders are filled immediately and though there have been "flash crashes" in the past, the exchanges will most likely be forced to implement safety protocols to prevent them from happening in the future.

    2018 will be the year of cryptocurrency. What you're seeing now is the leading edge of a massive tidal shift in finance.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Tue Dec 19, 2017 9:47 am
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Re: Let's talk cryptocurrency
Tue Dec 19, 2017 7:36 pm
  • I think Ripple's going to blow up before too long and skyrocket. It's so very useful in the real world, it just seems inevitable; but I'm still new in the cryptocurrency waters.
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Re: Let's talk cryptocurrency
Fri Dec 22, 2017 11:50 pm
  • RolandDeschain wrote:I think Ripple's going to blow up before too long and skyrocket. It's so very useful in the real world, it just seems inevitable; but I'm still new in the cryptocurrency waters.


    Get acquainted quick. If you need some pointers on hot emerging tech, I can lend a hand. I too was late to the party, but it was quickly apparent to me that this market is not going to cap out at 500 billion. We are looking at a veritable financial revolution, a coup d'etat against the banking elite.

    Ripple already has blown up. If they are able to rope in enough central banks, they are looking at trillions in market capitalization. Thing is, they have a large supply of pre-mined coins with an eventual limit of 100 billion in circulation. Presently there is something like 50-55 billion. That sort of circulating supply could stymie its potential for the kind of explosive growth one hopes to see from a more "traditional" cryptocurrency. It's still a pretty good investment even at $1 each (I managed to get a bit at .22 cents, still HODLing). I think Ripple is on solid footing for gradual gains and is a decent long term play but it will be outperformed by others. More than anything, I see Ripple as a hedge against regulatory burdens imposed on the crypto markets.

    There was explosive volatility in the price of all cryptos on GDAX following the introduction of Bitcoin Cash trading. It created one hell of a buying opportunity.

    All said, I am beyond excited to see what is in store for crypto in 2018. I started this game just four months ago but have been daytrading with abandon. There are a lot of success stories from traders involved in this high risk game of trading imaginary, yet very real money. I started 4 months ago with $950 charged to a debit card. Playing shrewdly on GDAX has been rewarding to the point of giddiness, so much so that I started piping ETH over to Bittrex to build a portfolio of high risk altcoins there. One of those altcoins has started to hyper capitalize.

    It's like I am living in a dream. I paid $950 for a copy of Dope Wars and it pays me in real money. Insane. I am actually to the point where I am going to be setting up offshore entities to handle this business and simplify the tax burden. Like Tony Montana with ones and zeros.

    Exciting times we live in.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Sat Dec 23, 2017 12:19 am
  • Are there currently any penny coins you think are worth purchasing?

    I've got 232 XRP right now. Despite the cap in number of coins, I think this still has monster potential for rapid rise. It serves such an exceedingly useful real-world purpose.
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Re: Let's talk cryptocurrency
Sat Dec 23, 2017 8:51 am
  • RolandDeschain wrote:Are there currently any penny coins you think are worth purchasing?

    I've got 232 XRP right now. Despite the cap in number of coins, I think this still has monster potential for rapid rise. It serves such an exceedingly useful real-world purpose.


    That's a good question. I think there are several right now with potential. With XRP they are limited only by how much adoption they receive, but the outlook for them is definitely rosy for a multitude of reasons. I predict they will offer slow (by crypto standards) growth that outpaces the stock market by a considerable margin, eventually flattening out in 7-10 years. This is probably the safest long term play in the entire game.

    A couple I watch in the sub $1 arena would be these:

    Cardano (ADA) - Known as the "Ethereum of Japan", this is a scratch built currency with an absolutely brilliant dev team that seeks to identify and solve various problems with other currencies. They are cutting edge and worth buying in to their braintrust. I do not hold any of their assets but I am strongly considering a move to diversify in to them. They have had a few runs of explosive growth recently but there's still plenty of ceiling left. There are only going to be 45 billion ADA tokens, giving them immense price potential despite their recent run-ups.

    Verge (XVG) - (Fair disclaimer, I am a holder of this asset). This could well be the most significant project in the entire space. This project is led by a capable team and supported by an extremely enthusiastic community. (/r/vergecurrency). Some analysts are throwing huge price targets on this one in anticipation of its popularity. Its killer feature is native TOR operation and soon will include the ability to enable or disable obfuscation of source and destination wallet addresses right there on the blockchain. I am in deep on this one and was up until 1AM moving ETH I had earned daytrading to from GDAX to Bittrex, in order to buy in to more. It's exploding right now and has the potential for unprecedented growth in 2018.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Sat Dec 23, 2017 2:14 pm
  • I can't even buy anything right now. I tried adding a second payment method on Coinbase, couldn't do it because the website for that card doesn't show temporary/posting transactions which is really annoying, I added a different one, then it got stuck in a loop thinking I have no payment methods. I tried removing them and now it's forcing me to verify my ID - ok, so I take the pics of my driver's license, and now I'm waiting on that; but I literally can't buy anything right now.

    I try signing up on GDAX, but since they're both owned by the same company and apparently have the same retarded web development team, I'm running into a problem straight away where I can't even attempt to verify my account on GDAX.

    Jesus Christ. Are there any other reputable exchanges with WORKING websites? A friend of mine has been waiting for FOUR DAYS now to get $700 out of Gatehub, so I'm not going to try there.

    Bittrex has suspended new registrations pending improvements made in their infrastructure.

    Ugh. Apparently not one of these damned sites felt it necessary to build a scalable website from the ground up.
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Re: Let's talk cryptocurrency
Sat Dec 23, 2017 5:11 pm
  • Shit man, I sympathize. I was fortunate to have signed up for GDAX/Coinbase at a time after ETH had completed an insane bull run, so interest had waned at that point.

    There's no doubt these orgs are having scaling issues and growing pains at multiple levels. The market for cryptocurrency is expected to breach the trillions next year and nobody foresaw truly how popular this would become. For the first time in a long time, individual investors have somewhere to put their money.

    A good friend of mine missed out on the Litecoin extravaganza that happened a couple weeks ago, because GDAX couldn't get him verified.

    These sites are handing millions to billions of transactions per day now and are no doubt having to get creative in order to scale out.

    Keep trying man. Even consider Poloniex and Binance, in Russia and China, respectively. Just don't leave crypto assets on there for long. While both orgs have decent reputations, you just never know what will happen.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Sat Dec 23, 2017 11:26 pm
  • I appreciate the thorough analysis by many in this thread, and if you've made money investing in this realm I applaud you, but personally I'm highly skeptical of this unregulated new industry. Everything points to Bitcoin as the mother of all bubbles-nothing but pure speculation.

    The Fed chair has warned on cryptos and the volatility this past week speaks volumes. I'm very wary of the hacking recently reported by a South Korean crypto and when you have zero regulation, it's a birthing ground for criminal activity. I've also read how international transactions cannot be secured with cryptos due to the inability to ascertain actual worth.

    Even if society begins to jump on this, it will not be for me.
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Re: Let's talk cryptocurrency
Sun Dec 24, 2017 5:55 am
  • West, while I understand your skepticism, $10 worth of Bitcoin in the spring of 2010 would have netted you millions of dollars right now. Just sayin'. It's not like anyone's saying get rid of your 401k and invest it all in cryptocurrency; but there's a pretty good chance that if you spread small amounts of cash into some various ones like many that Smokin' and I are speaking about in here, that at least one of them will have massive (by traditional investment averages) returns; I'd say it's a near-guarantee that at least one of these will return 1,000% profit within a couple of years.

    Smokin', you're a lot more dialed into it right now than I am, however. What say you?

    Also, all my coins (the piddly few hundred bucks I've purchased thus far, anyways) are on Binance right now. What methods are the best for offline storage, you think? I've heard good things about the Ledger Nano, for instance: https://www.amazon.com/Ledger-Nano-Cryp ... ger+nano+s
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Re: Let's talk cryptocurrency
Sun Dec 24, 2017 7:20 pm
  • Also, TRON (TRX) looks like it has major long-term potential; have you read up on that at all?
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 1:15 pm
  • West TX Hawk wrote:I appreciate the thorough analysis by many in this thread, and if you've made money investing in this realm I applaud you, but personally I'm highly skeptical of this unregulated new industry. Everything points to Bitcoin as the mother of all bubbles-nothing but pure speculation.

    The Fed chair has warned on cryptos and the volatility this past week speaks volumes. I'm very wary of the hacking recently reported by a South Korean crypto and when you have zero regulation, it's a birthing ground for criminal activity. I've also read how international transactions cannot be secured with cryptos due to the inability to ascertain actual worth.

    Even if society begins to jump on this, it will not be for me.


    Society is jumping on and in a few years you may look back on this time and shake your head in disbelief. The truth is, Bitcoin is backed by more solid stuff than the US Dollar. There can only ever be 21 million Bitcoins. The Fed can print the US Dollar as often as they like, in whatever quantity they like.

    Is Bitcoin overvalued? I don't know, maybe. The fact it is basically an alpha release of a proof of concept and each token is valued at $16,000 should tell you something. The fact that other similar software releases have occurred have managed to reach market capitalization in the tens of billions also ought to tell you something. It's nothing short of a technological revolution.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 1:15 pm
  • fenderbender123 wrote:I don't get why buying it is so complicated. I downloaded what was supposed to be one of the higher rated "easy to use" software apps on my PC, and when I opened it I was greeted with all kinds of menus and options with verbiage that made 0 sense to me.

    I should be able to just sign up for an account like Paypal, and click "buy currency", and then buy it. I don't get why it's so complicated???



    I've read about others who have had problems buying Bitcoin using Coinbase and other apps.

    I'm in the investment world, and I've had numerous conversations with clients about Bitcoin and cryptocurrency in general. As with any commodity, especially one like Bitcoin that's received this much publicity and buzz, what you're really buying at this point in the technologies infancy is one thing and one thing only....................hype.

    So sure, buy Bitcoin and you might make money, you might even make a LOT of money. But make no mistake, until there's some uniformity and worldwide recognition on EXACTLY what cryptocurrency is, how it's defined, how it's regulated and most importantly how the markets use it, any value it has is just hype.

    So like the tech bubble, unless there's all the things I talked about above that come to fruition, it's value will rise and fall...........and eventually burst.

    I also read that 80% of Bitcoin's stock is currently being held by less than 1,000 people. Anyone in the financial world will tell you that's a HUGE red flag for a stable investment with legitimate growth potential. Because those people control the stock, so any big selloff will create massive volatility.
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 1:18 pm
  • RolandDeschain wrote:Also, TRON (TRX) looks like it has major long-term potential; have you read up on that at all?


    I've heard about it but know relatively little about it. If it takes off it has similar growth potential to Ripple. The price is certainly right and I may have to toss a couple Benjamins at it.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 1:23 pm
  • Sgt. Largent wrote:
    fenderbender123 wrote:I don't get why buying it is so complicated. I downloaded what was supposed to be one of the higher rated "easy to use" software apps on my PC, and when I opened it I was greeted with all kinds of menus and options with verbiage that made 0 sense to me.

    I should be able to just sign up for an account like Paypal, and click "buy currency", and then buy it. I don't get why it's so complicated???



    I've read about others who have had problems buying Bitcoin using Coinbase and other apps.

    I'm in the investment world, and I've had numerous conversations with clients about Bitcoin and cryptocurrency in general. As with any commodity, especially one like Bitcoin that's received this much publicity and buzz, what you're really buying at this point in the technologies infancy is one thing and one thing only....................hype.

    So sure, buy Bitcoin and you might make money, you might even make a LOT of money. But make no mistake, until there's some uniformity and worldwide recognition on EXACTLY what cryptocurrency is, how it's defined, how it's regulated and most importantly how the markets use it, any value it has is just hype.

    So like the tech bubble, unless there's all the things I talked about above that come to fruition, it's value will rise and fall...........and eventually burst.

    I also read that 80% of Bitcoin's stock is currently being held by less than 1,000 people. Anyone in the financial world will tell you that's a HUGE red flag for a stable investment with legitimate growth potential. Because those people control the stock, so any big selloff will create massive volatility.


    I think the biggest mistake is thinking about Bitcoin in the same terms that you think about stocks, bonds, and other traditional investment vehicles.

    I personally believe that Bitcoin itself is potentially beginning to wilt on the vine as it's unable to scale beyond its current point gracefully. That's fine, Ethereum is positioned to take over with a far superior technology offering once BTC value begins to decline for good.

    Cryptocurrencies as an asset class are here to stay, though. There will always be a few big fish and a lot of wannabes, but a well managed crypto project is proving to be a superior store of value to the USD by leaps and bounds.
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 1:54 pm
  • SmokinHawk wrote:
    Sgt. Largent wrote:
    fenderbender123 wrote:I don't get why buying it is so complicated. I downloaded what was supposed to be one of the higher rated "easy to use" software apps on my PC, and when I opened it I was greeted with all kinds of menus and options with verbiage that made 0 sense to me.

    I should be able to just sign up for an account like Paypal, and click "buy currency", and then buy it. I don't get why it's so complicated???



    I've read about others who have had problems buying Bitcoin using Coinbase and other apps.

    I'm in the investment world, and I've had numerous conversations with clients about Bitcoin and cryptocurrency in general. As with any commodity, especially one like Bitcoin that's received this much publicity and buzz, what you're really buying at this point in the technologies infancy is one thing and one thing only....................hype.

    So sure, buy Bitcoin and you might make money, you might even make a LOT of money. But make no mistake, until there's some uniformity and worldwide recognition on EXACTLY what cryptocurrency is, how it's defined, how it's regulated and most importantly how the markets use it, any value it has is just hype.

    So like the tech bubble, unless there's all the things I talked about above that come to fruition, it's value will rise and fall...........and eventually burst.

    I also read that 80% of Bitcoin's stock is currently being held by less than 1,000 people. Anyone in the financial world will tell you that's a HUGE red flag for a stable investment with legitimate growth potential. Because those people control the stock, so any big selloff will create massive volatility.


    I think the biggest mistake is thinking about Bitcoin in the same terms that you think about stocks, bonds, and other traditional investment vehicles.

    I personally believe that Bitcoin itself is potentially beginning to wilt on the vine as it's unable to scale beyond its current point gracefully. That's fine, Ethereum is positioned to take over with a far superior technology offering once BTC value begins to decline for good.

    Cryptocurrencies as an asset class are here to stay, though. There will always be a few big fish and a lot of wannabes, but a well managed crypto project is proving to be a superior store of value to the USD by leaps and bounds.


    I agree with all this, and you nailed my point much quicker than I got to it. Like most new technology or currency, there has to be a vetting process, either through public consumption (the people have spoken), or through government or private financial sectors that put an end to the speculation of what's going to be used.

    Litecoin, Ethereum, Bitcoin, Zcash, Dash, Monero? See what I mean? Right now there's too many crypto's fighting for supremacy. So until that uniformity shakes out, I wouldn't recommend any cryptocurrency to my clients, who aren't willing to part with 100% of their money.

    Which is fine, I have clients like that, but make no mistake, at this point in cryptocurrency's infancy? It's gambling with very little data to back up buying crypto for a sound financial investment.
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 1:58 pm
  • Sgt. Largent wrote:
    SmokinHawk wrote:
    Sgt. Largent wrote:
    fenderbender123 wrote:I don't get why buying it is so complicated. I downloaded what was supposed to be one of the higher rated "easy to use" software apps on my PC, and when I opened it I was greeted with all kinds of menus and options with verbiage that made 0 sense to me.

    I should be able to just sign up for an account like Paypal, and click "buy currency", and then buy it. I don't get why it's so complicated???



    I've read about others who have had problems buying Bitcoin using Coinbase and other apps.

    I'm in the investment world, and I've had numerous conversations with clients about Bitcoin and cryptocurrency in general. As with any commodity, especially one like Bitcoin that's received this much publicity and buzz, what you're really buying at this point in the technologies infancy is one thing and one thing only....................hype.

    So sure, buy Bitcoin and you might make money, you might even make a LOT of money. But make no mistake, until there's some uniformity and worldwide recognition on EXACTLY what cryptocurrency is, how it's defined, how it's regulated and most importantly how the markets use it, any value it has is just hype.

    So like the tech bubble, unless there's all the things I talked about above that come to fruition, it's value will rise and fall...........and eventually burst.

    I also read that 80% of Bitcoin's stock is currently being held by less than 1,000 people. Anyone in the financial world will tell you that's a HUGE red flag for a stable investment with legitimate growth potential. Because those people control the stock, so any big selloff will create massive volatility.


    I think the biggest mistake is thinking about Bitcoin in the same terms that you think about stocks, bonds, and other traditional investment vehicles.

    I personally believe that Bitcoin itself is potentially beginning to wilt on the vine as it's unable to scale beyond its current point gracefully. That's fine, Ethereum is positioned to take over with a far superior technology offering once BTC value begins to decline for good.

    Cryptocurrencies as an asset class are here to stay, though. There will always be a few big fish and a lot of wannabes, but a well managed crypto project is proving to be a superior store of value to the USD by leaps and bounds.


    I agree with all this, and you nailed my point much quicker than I got to it. Like most new technology or currency, there has to be a vetting process, either through public consumption (the people have spoken), or through government or private financial sectors that put an end to the speculation of what's going to be used.

    Litecoin, Ethereum, Bitcoin, Zcash, Dash, Monero? See what I mean? Right now there's too many crypto's fighting for supremacy. So until that uniformity shakes out, I wouldn't recommend any cryptocurrency to my clients, who aren't willing to part with 100% of their money.

    Which is fine, I have clients like that, but make no mistake, at this point in cryptocurrency's infancy? It's gambling with very little data to back up buying crypto for a sound financial investment.


    I tell all of my friends who are interested in getting in to this to only venture what money they are willing to lose 100% of, be prepared to hold on to your investment for years.
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 2:31 pm
  • Sgt. Largent wrote:So sure, buy Bitcoin and you might make money, you might even make a LOT of money. But make no mistake, until there's some uniformity and worldwide recognition on EXACTLY what cryptocurrency is, how it's defined, how it's regulated and most importantly how the markets use it, any value it has is just hype.

    So like the tech bubble, unless there's all the things I talked about above that come to fruition, it's value will rise and fall...........and eventually burst.

    Sorry Largent, but this sounds like old man get off my lawn logic, to me. All those things you say it needs to have? The housing and financial markets had them. Didn't stop that whole damn thing from collapsing like a house of cards and screwing over the lives of millions of people a decade ago, now did it?

    @Smokin': Read up on Tron (TRX) a bit and let me know what you think. Also, regarding Ripple; apparently, you can use Ripple without involving XRP; they're two separate things, and that buying XRP may not be all it's cracked up to be, since there are apparently Ripple partners using the Ripple network without touching XRP. Do you know anything about this? The TL;DNR version is that XRP may not be able to ride the Ripple wave the way people are thinking/assuming.
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 2:42 pm
  • RolandDeschain wrote:Sorry Largent, but this sounds like old man get off my lawn logic, to me. All those things you say it needs to have? The housing and financial markets had them. Didn't stop that whole damn thing from collapsing like a house of cards and screwing over the lives of millions of people a decade ago, now did it?.


    Not sure how giving my clients prudent and wise financial investing advice is being an old man, but you go on with your bad self.

    And yes, like the housing and financial bubble of the late 2000's, cryptocurrency is also being propped up by unsound market trends and market created inflated value. Thus me telling my clients to be wary.
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 2:45 pm
  • Sgt. Largent wrote:
    RolandDeschain wrote:Sorry Largent, but this sounds like old man get off my lawn logic, to me. All those things you say it needs to have? The housing and financial markets had them. Didn't stop that whole damn thing from collapsing like a house of cards and screwing over the lives of millions of people a decade ago, now did it?.


    Not sure how giving my clients prudent and wise financial investing advice is being an old man, but you go on with your bad self.

    And yes, like the housing and financial bubble of the late 2000's, cryptocurrency is also being propped up by unsound market trends and market created inflated value. Thus me telling my clients to be wary.

    So you were on the right side of the housing market collapse and telling people NOT to buy real estate in 2006/2007, then? If so, you're damned near the only one in the country, because virtually all prudent and wise financial investors were telling people with spare cash that you can't go wrong with real estate until the collapse was well under way.
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 5:03 pm
  • RolandDeschain wrote:
    Sgt. Largent wrote:
    RolandDeschain wrote:Sorry Largent, but this sounds like old man get off my lawn logic, to me. All those things you say it needs to have? The housing and financial markets had them. Didn't stop that whole damn thing from collapsing like a house of cards and screwing over the lives of millions of people a decade ago, now did it?.


    Not sure how giving my clients prudent and wise financial investing advice is being an old man, but you go on with your bad self.

    And yes, like the housing and financial bubble of the late 2000's, cryptocurrency is also being propped up by unsound market trends and market created inflated value. Thus me telling my clients to be wary.

    So you were on the right side of the housing market collapse and telling people NOT to buy real estate in 2006/2007, then? If so, you're damned near the only one in the country, because virtually all prudent and wise financial investors were telling people with spare cash that you can't go wrong with real estate until the collapse was well under way.


    I'm not sure why you're directing your derision at me. I'M NOT TELLING PEOPLE TO BUY CRYPTOCURRENCY. IN FACT I'M TELLING PEOPLE NOT TO BUY CRYPTOCURRENCY.

    And no, I had nothing to do with the subprime housing/lending scam that Wall Street foisted upon us. I don't deal in any property, hedge funds, commodities or real estate. In fact, I told MANY MANY clients to stop flipping houses and getting into short term interest only ARM loans thinking that they'd just sit on escalating property values because I knew eventually the bubble would burst.
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Re: Let's talk cryptocurrency
Tue Dec 26, 2017 10:23 pm
  • You're completely misunderstanding me. My point was that I disagree with automatically writing off the possibility of recommending investing even a tiny amount of cash in cryptocurrency due to the reasons you listed.
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Re: Let's talk cryptocurrency
Wed Dec 27, 2017 11:49 am
  • RolandDeschain wrote:You're completely misunderstanding me. My point was that I disagree with automatically writing off the possibility of recommending investing even a tiny amount of cash in cryptocurrency due to the reasons you listed.


    That's just not the kind of investment adviser I am, I'm not going to recommend any investment until there's sound backing, research and statistical substance to doing it.......unless like I said, my clients fully understand that the investment is 100% at risk.
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Re: Let's talk cryptocurrency
Thu Dec 28, 2017 12:32 am
  • I just dropped $700 into Ethereum. Bought 1 coin. Worst thing that could happen is I lose $700 which I am willing to do since I made $1600 off a selling 1/2 my Roku stock a few weeks back. Basically playing with house money.

    My understanding is that Ether is the 2nd largest Crypto but much more useful than bitcoin. It would not surprise me if more hype started moving their direction. I'd be happy to double my money but if Bitcoin can reach $20k why not Ether sometime in the next year or 2.

    I do think playing $100 of 7 different lesser know's could have a much higher upside.
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Re: Let's talk cryptocurrency
Thu Dec 28, 2017 12:34 am
  • oh man with all this crypto talk i decided to throw down $240 on 1 Litecoin as well.

    I hope I'm not too late to the party.
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Re: Let's talk cryptocurrency
Thu Dec 28, 2017 8:28 am
  • Wenhawk wrote:oh man with all this crypto talk i decided to throw down $240 on 1 Litecoin as well.

    I hope I'm not too late to the party.


    Probably a good bet for the long run. Litecoin is one of the most ideologically pure projects out there and its lead developer, a former Google exec, sold off his stake and donated it all to charity as so to eliminate any potential for conflicts of interest in the project as it moves down the road. I wouldn't have done the same thing, but it's hard to fault someone who'd do that while still remaining on the project. Litecoin is a winner for the long run, I think, with potential to be a viable replacement for Bitcoin once the BTC/BCH drama settles.

    As for the Ether you bought, I suspect that will also prove to be a very good long term investment. Its fungible nature makes it a good candidate for others to move their money to crypto-to-crypto exchanges, which in turn creates a ton of liquidity for ETH. The downside is that it also tends to hold the price hostage. It's still a good play, though, because at some point people will begin to hold it again and it will break out of its price which is currently about $130-$150 off the all-time high.

    I'd expect Coinbase/GDAX to introduce Ripple (XRP) trading in the near future. Dollars for doughnuts, that'll be their next listing, I'd bet my nuts on it. When it does, the surge in liquidity will cause that one to go absolutely bonkers. I've bought back in to Ripple after flirting with disaster on Verge (XVG), but managed to escape that one with a 20% profit and a LOT of lessons learned. Also picked up a stake in ZClassic (ZCL) and NAVCoin (NAV) as both are projects with a lot of promise. ZClassic is based on a fork of the highly successful ZCash project and traders are clearly interested in it because it does not send 20% of all mining profits to the founders, resulting in control of 10% of the money supply in 4 years. It's amazing to me the original ZCash trades over $500 each with that sort of mining mechanism in place. Astonishing.

    NAVCoin is another I am very interested in as it's a mostly ground-up scratch build of a cryptocurrency, and it incorporates a ton of neat anonymization features. It's also a "Proof of Stake" coin that is very energy efficient as it doesn't rely on mining. Instead, holders of it can stake their coins and earn a 5% yearly rate of return that can be compounded every time they successfully stake a block. Really cool stuff. Their market cap is small for now and the price is cheap ($4 each, roughly), so there's a metric shit ton of growth potential in this one plus a veritable swiss army knife worth of cool tech and tricks. Their dev team is transparent and their code repositories are frequently updated. These guys are going to make waves.
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Re: Let's talk cryptocurrency
Thu Dec 28, 2017 9:06 am
  • Sgt. Largent wrote:
    RolandDeschain wrote:You're completely misunderstanding me. My point was that I disagree with automatically writing off the possibility of recommending investing even a tiny amount of cash in cryptocurrency due to the reasons you listed.


    That's just not the kind of investment adviser I am, I'm not going to recommend any investment until there's sound backing, research and statistical substance to doing it.......unless like I said, my clients fully understand that the investment is 100% at risk.


    Hmm. I certainly understand where you are coming from as it's important for any financial advisor to be honest and forthcoming about risk. That said, you might be doing your clients with an appetite for risk a moderate injustice by not exposing them to these volatile but potentially very profitable assets. No doubt it's been a great year for stocks, but you just can't ignore the growing market capitalization on cryptocurrencies. With a current market cap of $561B with expectations of growing in to the trillion(s) next year, I think you're doing a disservice by not providing your clients with a means to access this market. Are you allowing them any exposure through funds, ETFs, and such, or is it a strict no-go area for you?
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Re: Let's talk cryptocurrency
Thu Dec 28, 2017 10:20 pm
  • Not to put too fine a point on it, but I think this chart speaks for itself.

    This here is ZClassic, and it is a fork of ZCash, which is a fork of Bitcoin with added source and destination obfuscation technology. It is essentially untraceable money, and it's deflationary in nature. Over the course of time, there will never be more than 21 million of it. I bought in to this yesterday when it was already up 250%. My average cost basis for these digital currencies is about $47 each.

    https://coinmarketcap.com/currencies/zclassic/

    Look at the last 48 hours of activity on that chart.

    If I sell now, I will have roughly doubled my brief investment. That said, time and time again, coins based directly on BTC's original blockchain and lineage have consistently proven valuable, and I truly expect to see a MUCH greater return by say, middle of February.

    I haven't mentioned the best part yet. This investment class does something similar to Wall Street's stock split, yet dissimilar in that a separate currency is spun off and freely competes against its progenitor. This particular currency I bought in to is planning another fork at the end of January and it will include all of the existing BTC assets currently in circulation, plus all holders of ZClassic. I believe the resulting liquidity will improve my overall holdings by preserving whatever value the market sees in ZClassic while also allowing me to circulate or hold on to its successor fork.

    This is the most significant investment opportunity of the modern age and people are crazy to not put at least a little something in on it. (I mean cryptocurrency in general, not necessarily ZClassic. This is not investment advice.)
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Re: Let's talk cryptocurrency
Wed Jan 10, 2018 7:21 pm
  • Yeah, why you wouldn't say to a client "let's just toss a few hundred in there to cover our basis in case it goes up tens of thousands of percentage points," I don't know. We're not talking about putting half of someone's 401k into cryptocurrency, lol.
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 10:07 am
  • I threw a small amount into LTC and ETH a few weeks ago. I'm thinking of trading all $1100 worth for Ripple.
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 2:15 pm
  • SmokinHawk wrote:
    Sgt. Largent wrote:
    RolandDeschain wrote:You're completely misunderstanding me. My point was that I disagree with automatically writing off the possibility of recommending investing even a tiny amount of cash in cryptocurrency due to the reasons you listed.


    That's just not the kind of investment adviser I am, I'm not going to recommend any investment until there's sound backing, research and statistical substance to doing it.......unless like I said, my clients fully understand that the investment is 100% at risk.


    Hmm. I certainly understand where you are coming from as it's important for any financial advisor to be honest and forthcoming about risk. That said, you might be doing your clients with an appetite for risk a moderate injustice by not exposing them to these volatile but potentially very profitable assets. No doubt it's been a great year for stocks, but you just can't ignore the growing market capitalization on cryptocurrencies. With a current market cap of $561B with expectations of growing in to the trillion(s) next year, I think you're doing a disservice by not providing your clients with a means to access this market. Are you allowing them any exposure through funds, ETFs, and such, or is it a strict no-go area for you?


    1. At this point in crypto's infancy, it's not something I'm comfortable with advising my clients to buy.

    2. My clients don't need me (as some of you have linked up), they can go purchase crypto themselves if they want without having to give me a commission.

    Again, doesn't mean we don't discuss it, good and bad.

    You also have to remember with new stocks, stock funds, bonds, bond funds, investment vehicles and products, etc they have to be researched, vetted and approved by multiple layers................SEC, broker dealer and investment houses and companies before a registered rep like myself is even given permission to sell it.
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 2:29 pm
  • Sgt. Largent wrote:1. At this point in crypto's infancy, it's not something I'm comfortable with advising my clients to buy.

    It sounds like you haven't even bothered trying to learn about it in detail or vet it in any way, though. Correct? I'm not talking about you being able to sell it, but simply getting yourself to the point of knowing whether it's worthy of suggesting to certain clients that they may want to consider just throwing a little cash at it of their own accord. If this is an accurate guess on my part, then it sounds like your modus operandi is to just wait until someone (such as the SEC or another regulatory authority, or for your employer) to tell you to start doing it, and that's a mindset I absolutely cannot agree with.

    Sgt. Largent wrote:2. My clients don't need me (as some of you have linked up), they can go purchase crypto themselves if they want without having to give me a commission.

    Right; but many of them do, I'm sure, have an expectation that you might give them a heads up on something that is low-risk and high-reward, such as a $300 investment in cryptocurrency. Worst that happens is you're out $300. Best...well, look at what happened with the current popular cryptocurrencies. Suggesting to each of your clients that they CONSIDER investing, on their own, a mere $100 in Ripple right now has a very high chance of making you look like a genius a few years from now.

    Sgt. Largent wrote:Again, doesn't mean we don't discuss it, good and bad.

    But have you brought up cryptocurrency with any of your clients? Them asking you about it of their own accord doesn't count.

    Sgt. Largent wrote:You also have to remember with new stocks, stock funds, bonds, bond funds, investment vehicles and products, etc they have to be researched, vetted and approved by multiple layers................SEC, broker dealer and investment houses and companies before a registered rep like myself is even given permission to sell it.

    Aye, I get that, and we're not talking about you selling it.
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 2:36 pm
  • RolandDeschain wrote:It sounds like you haven't even bothered trying to learn about it in detail or vet it in any way, though. Correct? I'm not talking about you being able to sell it, but simply getting yourself to the point of knowing whether it's worthy of suggesting to certain clients that they may want to consider just throwing a little cash at it of their own accord. If this is an accurate guess on my part, then it sounds like your modus operandi is to just wait until someone (such as the SEC or another regulatory authority, or for your employer) to tell you to start doing it, and that's a mindset I absolutely cannot agree with.
    .


    My modus operandi is to not have my securities license taken away by the state of Washington or my broker dealer.

    When you sign up with a broker dealer, you cannot sell products or investments outside their scope of approval. It's even more insanely strict than it was even five years ago. We used to get audited by the state maybe every 8-10 years? Now it's annually like clockwork.

    Believe me, crypto is on the table, and is being vetted by our broker dealer as we speak. It's obviously something investment advisers want to sell.
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 2:39 pm
  • Interesting. So let's say it gets approved at your broker dealer. How do you proceed? Like, do they educate you on it or direct you, or how does that work?
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 2:56 pm
  • RolandDeschain wrote:Interesting. So let's say it gets approved at your broker dealer. How do you proceed? Like, do they educate you on it or direct you, or how does that work?


    Crypto is pretty unique, so we'll see how they proceed once it's approved..............IF it's approved.

    But in general when a new fund, stock, investment vehicle, etc is approved we get all sorts of literature on it to read up. Sometimes with complex investment vehicles they'll even require schooling and testing to make sure we know what we're talking about.

    Here's a good article on crypto that Forbes did back in October that delves into what and why I'd be hesitant to recommend and sell it.

    https://www.forbes.com/sites/johnwasik/ ... 2da0944552
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 3:17 pm
  • I love the opening quote on there. Cash is used for significantly more illicit activity, so it must be bad too, right? Lol. That article also sounds like they're really trying to fit a square peg into a round hole. Cryptocurrency is not just another new piece to add into the existing financial mold.
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 4:00 pm
  • Well the term Crypto makes one think encryption which leads to hidden or masked meaning. Is this how the Cartels are funding things these days?
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 4:07 pm
  • chris98251 wrote:Well the term Crypto makes one think encryption which leads to hidden or masked meaning. Is this how the Cartels are funding things these days?

    Crypto in terms of currency is referring to cryptography, not being cryptic...
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 6:36 pm
  • RolandDeschain wrote:
    chris98251 wrote:Well the term Crypto makes one think encryption which leads to hidden or masked meaning. Is this how the Cartels are funding things these days?

    Crypto in terms of currency is referring to cryptography, not being cryptic...


    More generally, cryptography is about constructing and analyzing protocols that prevent third parties or the public from reading private messages are you sure Roland ?

    Sorry don't mean to derail your discussion it just struck me as why use that term, it's about masked or a hidden message.
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Re: Let's talk cryptocurrency
Thu Jan 11, 2018 9:13 pm
  • Heh. The real underlying tech is called blockchain technology. Google that and read up...
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    RolandDeschain
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Re: Let's talk cryptocurrency
Fri Jan 12, 2018 9:22 am
  • Sgt. Largent wrote:
    RolandDeschain wrote:Interesting. So let's say it gets approved at your broker dealer. How do you proceed? Like, do they educate you on it or direct you, or how does that work?


    Crypto is pretty unique, so we'll see how they proceed once it's approved..............IF it's approved.

    But in general when a new fund, stock, investment vehicle, etc is approved we get all sorts of literature on it to read up. Sometimes with complex investment vehicles they'll even require schooling and testing to make sure we know what we're talking about.

    Here's a good article on crypto that Forbes did back in October that delves into what and why I'd be hesitant to recommend and sell it.

    https://www.forbes.com/sites/johnwasik/ ... 2da0944552


    It's definitely unique in that it doesn't really lend itself well to regulation, in fact it was specifically designed to circumvent or inhibit regulation where possible. Where I expect regulators to step in are in fiat-to-crypto transactions similar to how Coinbase/GDAX handles it.

    Are there regulations on what ETFs you are allowed to recommend to potential investors? If not, there will be some really interesting leveraged ETF options coming down the pipe very soon, though I would personally steer clear of ones based solely on the value of Bitcoin. Altcoin markets are where the real growth will be in 2018 though I am mildly bullish on the value of BTC this year.

    Regarding your Forbes article, I saw a lot of FUD in there but not a lot of emphasis on technicals. I personally feel it's a good thing that for the most part, cryptocurrency positions are mostly long, and shorts are not common. The trade volume for many of them is low compared to assets on the Dow, FTSE, Nikkei, etc, and a large institutional investor with an axe to grind could short things in to oblivion. If people want to speculate on price via derivatives, there's a nascent futures market developing here in the USA, or one could always try their hand with the Asian futures markets (buyer BEWARE!). In general, I think short selling is a shitty, predatory practice abused by the rich and powerful and would prefer that people who are bearish on an asset just look for a long position elsewhere.

    The regulatory situation in China was a rough one last year and it created a lot of panic in the market. BTC in particular sold off from a high of near 20k, dropped to 9k, then stabilized around 15k. Fortunately, not even China can hold back the crypto markets as they are pressing forward on common sense regulation while shutting down the unregulated local (fiat) exchanges. China was likely to have been the single biggest test for cryptocurrency as they are notoriously covetous and protective of their economy. Just this week, Korean officials in their ministry of justice drafted legislation banning it altogether, causing yet another panic, dropping BTC from 15k to as low as $12,900, but it did not find much support at all from the rest of their leadership. Cryptocurrency appears to be winning its regulatory battles.

    The US Dollar is the #1 currency for criminals globally. Sure, Bitcoin enables them to move around money with relative anonymity, but so do Green Dot cards. I wouldn't let worry of BTC's association with criminal activity dissuade me from pursuing it as an investment vehicle. In 2018, I think the upside of cryptocurrency will vastly outweigh the downside. We'll definitely see some epic failures at some point, but this train is still building up a full head of steam. I personally expect to see a market cap of 3-5 trillion or more across all cryptocurrencies this year.
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    SmokinHawk
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Re: Let's talk cryptocurrency
Fri Jan 12, 2018 9:27 am
  • chris98251 wrote:
    RolandDeschain wrote:
    chris98251 wrote:Well the term Crypto makes one think encryption which leads to hidden or masked meaning. Is this how the Cartels are funding things these days?

    Crypto in terms of currency is referring to cryptography, not being cryptic...


    More generally, cryptography is about constructing and analyzing protocols that prevent third parties or the public from reading private messages are you sure Roland ?

    Sorry don't mean to derail your discussion it just struck me as why use that term, it's about masked or a hidden message.


    In the computer world, cryptography is employed for a few reasons. The most obvious reasons being to protect sensitive data from prying eyes, or to establish a secure channel for communication. The less obvious use is tamper proofing. By signing a ledger transaction with a unique cryptographic cipher it can be safely assumed that the owner of the private crypto key initiated that transaction and the data transmitted within that transaction has not been altered in any way.

    What makes blockchain such a powerful innovation is this tamper proofing mechanism. Each link in the blockchain is protected with a unique cryptographic cipher that is generated in part by all the transactions preceding it. Change one transaction and every transaction after it will fail its "merkle proof".
    Feel free to contact me if you need legal assistance. I have a great lawyer that helped me with an ex who violated my privacy and kept harassing me on MySpace and Facebook. He's very good. And there is legal precedent. - linuxpro

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Re: Let's talk cryptocurrency
Fri Jan 12, 2018 10:09 am
  • SmokinHawk wrote:
    Regarding your Forbes article, I saw a lot of FUD in there but not a lot of emphasis on technicals. I personally feel it's a good thing that for the most part, cryptocurrency positions are mostly long, and shorts are not common. The trade volume for many of them is low compared to assets on the Dow, FTSE, Nikkei, etc, and a large institutional investor with an axe to grind could short things in to oblivion. If people want to speculate on price via derivatives, there's a nascent futures market developing here in the USA, or one could always try their hand with the Asian futures markets (buyer BEWARE!). In general, I think short selling is a shitty, predatory practice abused by the rich and powerful and would prefer that people who are bearish on an asset just look for a long position elsewhere.


    The article was more a cautionary tale of just how unique and different cryptocurrency is, and how countries are struggling to regulate it.

    That's where the SEC and regulatory agencies are right now in the US (and just about everywhere else), trying to figure out how to safeguard and regulate crypto. Until they figure out what box it fits it (or if they need to create a whole new box ), then there will be more Korea and China issues all around the globe.
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Re: Let's talk cryptocurrency
Fri Jan 12, 2018 10:30 am
  • Well if you have a unique key for every transaction then regulators and governments will throw a fit at some point if they don't have oversight access, they want to see the sock and undies your washing and what detergent your using so to speak as well as whos machine your using so they can make sure they get their fair share of revenue.
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