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Posted: 8/19/2017 10:05:26 PM EDT
[#1]
Comments are appreciated. I'm stuck in a hotel room with not much to do, lol.
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Posted: 8/19/2017 10:08:34 PM EDT
[#2]
I will back up the truck once it hits 87 cents.
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Posted: 8/19/2017 10:13:34 PM EDT
[#3]
Quote HistoryQuoted:
I will back up the truck once it hits 87 cents. |
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Posted: 8/19/2017 10:20:15 PM EDT
[#4]
I wouldn't know.
I dabbled a little a couple years ago. Always bet wrong. Had a few alt coins like lite coin on BTC-E, and when I tried to login this year my account was locked due to inactivity. To protect me I'm sure. Played the email game for 2 months to unlock the account. It was like talking to retarded foreigners. I'm sure they fucked away whatever I had. |
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Posted: 8/19/2017 10:21:02 PM EDT
[#5]
Let me guess, you own a bunch of it?
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Posted: 8/19/2017 10:23:20 PM EDT
[#6]
It will decrease by -10,000.
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Posted: 8/19/2017 10:30:51 PM EDT
[#7]
Quote HistoryQuoted:
Let me guess, you own a bunch of it? I spent money on alt coin mining equipment in 2014. I of course bought at precisely the wrong time and didn't make my money back until this more recent bubble. I think this bubble will crash somewhere below $1k. At which point it will likely climb beyond it's current high sometime in the next 5 to 10 years. Essentially I see its value as being driven largely by it's acceptance as a form of payment. It's entirely possible it will be abandoned. I find the idea of a non-government backed deflationary currency appealing to the libertarian side of me. |
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Posted: 8/19/2017 10:37:47 PM EDT
[#8]
Quote HistoryQuoted:
I doubt that happens unless a flaw is exposed that essentially makes it worth $0. Quote HistoryQuoted:
Quoted:
I will back up the truck once it hits 87 cents. |
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Posted: 8/19/2017 10:41:02 PM EDT
[#9]
Quote HistoryQuoted:
The flaw is it is basically vaperware. Anything happens to the net it is worthless. The block chain is spread and authenticated around the world. Short term interruptions aren't that big of a deal. |
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Posted: 8/19/2017 10:43:13 PM EDT
[#10]
Quote HistoryQuoted:
I will back up the truck once it hits 87 cents. 
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Posted: 8/19/2017 10:43:45 PM EDT
[#11]
I am not sure I would call it a bubble.
I would expect it to only go down depending on the fork. I see the new bitcoin cash has started going up quite a bit. So I wonder if it will be like eth vs etc. and they might swap places. but I don't think crypto will "pop" in general. |
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Posted: 8/19/2017 10:47:33 PM EDT
[#12]
Quote HistoryQuoted:
I wouldn't know. I dabbled a little a couple years ago. Always bet wrong. Had a few alt coins like lite coin on BTC-E, and when I tried to login this year my account was locked due to inactivity. To protect me I'm sure. Played the email game for 2 months to unlock the account. It was like talking to retarded foreigners. I'm sure they fucked away whatever I had. Not sure if anyone is going to get their coins. |
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Posted: 8/19/2017 10:49:04 PM EDT
[#13]
Quote HistoryQuoted:
I am not sure I would call it a bubble. I would expect it to only go down depending on the fork. I see the new bitcoin cash has started going up quite a bit. So I wonder if it will be like eth vs etc. and they might swap places. but I don't think crypto will "pop" in general. If people start thinking of btc as a great place to keep their savings because it steadily evades inflation, that will be interesting. |
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Posted: 8/19/2017 10:49:58 PM EDT
[#14]
Quote HistoryQuoted:
BTC-E got shut down by the man, fwiw. Not sure if anyone is going to get their coins. |
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Posted: 8/19/2017 10:54:46 PM EDT
[#15]
Life will be cheap in 5 years if the deep state gets their way.
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Posted: 8/19/2017 11:06:39 PM EDT
[#16]
As part of the package deal for China's Yuan to be included in the SDR, China agree to work on monetizing chattel electronically. They already did it with tea and now have ACC (Asset Collection Chain) which can digitalize any form of property including your labor or body parts.
When fiat dies, the IMF wants us to go digital. It makes you much more vulnerable to them. Remember the Bourne film where Bourne goes to an ATM and can't get any cash? Same with any persona-non-grata. Second, by going digital they know exactly what you buy and from whom. Third, you are vulnerable to inflation at any time since they control all your "money." Fourth, unlimited taxation with every transaction. You can't earn or spend without being taxed. Bitcoin is their enemy because it is outside of central control - something they don't like and is a serious challenge to their control over the monetary system. |
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Posted: 8/19/2017 11:13:05 PM EDT
[#17]
Quote HistoryQuoted:
I see a lot of its current growth as due to the crypto traders. The problem being that feedback of those looking to generate dollars can cause a mean loop pushing values quickly up or down. If people start thinking of btc as a great place to keep their savings because it steadily evades inflation, that will be interesting. One thing everyone learned...... a split means $$$ in (at least) the short term. That will always drive the price up in the near term (until we see some sort of negative after effect on BTC). It's such a weird space right now. Older coins with very little oversight or funding (essentially) competing with newer coins with baked in marketing budgets. Think about the path of new (dumb, non institutional money) into crypto. It's extremely early days for marketing and you have 3.5 groups providing "information" 1. The Bitcoin guys. Made enough money to fuck around and promote Bitcoin. 2. The Ethereum guys. Made enough money to fuck around and promote Ethereum. 3. The marketing coins. Included a mechanism to either (1) hold a shit ton of coins to pay for hype, or (2) coded the coin to pay for hype 3.5. The few random Joe's who don't "really" have strong motive toward one coin. |
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Posted: 8/19/2017 11:19:39 PM EDT
[#18]
When people lose faith in their fiat, they will find some shelter to protect their purchasing power. It's Gresham's Law in action.
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Posted: 8/19/2017 11:19:43 PM EDT
[#19]
I'm not a fan of any crypto that doesn't have a hard cap on growth. That's one of my big complaints about ether.
In the end theirs probably only room for a couple cryptos. Everything else will languish and die. |
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Posted: 8/19/2017 11:27:05 PM EDT
[#20]
Quote HistoryQuoted:
When people lose faith in their fiat, they will find some shelter to protect their purchasing power. It's Gresham's Law in action. While the US gov is in better shape this year than it has been in some time, we still have a major deficit issue. As little as a couple years ago we were on track to spend half of US income on servicing the debt - in as little as 10 years. With the increase in tax revenues last year, it will push that point out 50+ years - as long as we don't increase our borrowing or expenditures. The problem is that we've had about eight bull years, that's going to turn around at some point. If it's a major market run the fed may be tempted to increase qe and the gov will lose revenue. That type of incident would bring the fatal point of spending over half of revenue on debt servicing closer again. FWIW, I assume .gov borrows from the fed at 3% interest when I make these guestimates. |
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Posted: 8/19/2017 11:34:18 PM EDT
[#21]
Quote HistoryQuoted:
It's one of the prime reasons I hold onto my bitcoin. I see it as having tons of growth in the event we have hyper inflation. While the US gov is in better shape this year than it has been in some time, we still have a major deficit issue. As little as a couple years ago we were on track to spend half of US income on servicing the debt - in as little as 10 years. With the increase in tax revenues last year, it will push that point out 50+ years - as long as we don't increase our borrowing or expenditures. The problem is that we've had about eight bull years, that's going to turn around at some point. If it's a major market run the fed may be tempted to increase qe and the gov will lose revenue. That type of incident would bring the fatal point of spending over half of revenue on debt servicing closer again. FWIW, I assume .gov borrows from the fed at 3% interest when I make these guestimates. |
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Posted: 8/19/2017 11:37:51 PM EDT
[#22]
Quote HistoryQuoted:
No. I sold out 70% of my holdings at $2700/coin. I've got about 1 btc left. I spent money on alt coin mining equipment in 2014. I of course bought at precisely the wrong time and didn't make my money back until this more recent bubble. I think this bubble will crash somewhere below $1k. At which point it will likely climb beyond it's current high sometime in the next 5 to 10 years. Essentially I see its value as being driven largely by it's acceptance as a form of payment. It's entirely possible it will be abandoned. I find the idea of a non-government backed deflationary currency appealing to the libertarian side of me.
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Posted: 8/19/2017 11:41:03 PM EDT
[#23]
Quote HistoryQuoted:
If (when) the economy has issues, crypto will have issues as the jobless sell off coins. |
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Posted: 8/19/2017 11:46:26 PM EDT
[#24]
Quote HistoryQuoted:
Read Gyprat's thread in the survival forum re: Collapse of the Soviet Union. BTW, a German told me the same thing about Post WW II Germany. You bartered to survive and if you had nothing to barter, you starved. |
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Posted: 8/19/2017 11:54:51 PM EDT
[#25]
I don't get it, seems like beanie babies for tech nerds. I voted 0.
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Posted: 8/20/2017 12:08:05 AM EDT
[#26]
Quote HistoryQuoted:
If (when) the economy has issues, crypto will have issues as the jobless sell off coins. Quote HistoryQuoted:
Quoted:
It's one of the prime reasons I hold onto my bitcoin. I see it as having tons of growth in the event we have hyper inflation. While the US gov is in better shape this year than it has been in some time, we still have a major deficit issue. As little as a couple years ago we were on track to spend half of US income on servicing the debt - in as little as 10 years. With the increase in tax revenues last year, it will push that point out 50+ years - as long as we don't increase our borrowing or expenditures. The problem is that we've had about eight bull years, that's going to turn around at some point. If it's a major market run the fed may be tempted to increase qe and the gov will lose revenue. That type of incident would bring the fatal point of spending over half of revenue on debt servicing closer again. FWIW, I assume .gov borrows from the fed at 3% interest when I make these guestimates. |
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Posted: 8/20/2017 12:10:42 AM EDT
[#27]
Won't go below 2500 ever again. Will be 5k by end of year. 15k+ next 2-3 years, 50k in 5+ years. It's not a bubble if only a tiny fraction of people on earth own one any, not to mention only 21 million can ever exist and 10-20% of those are lost forever via destroyed wallets and sent to invalid addresses.
Do the math: http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3 |
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Posted: 8/20/2017 12:12:54 AM EDT
[#28]
Quote HistoryQuoted:
Right, but eventually the economy will rebound, and the technology itself isn't going anywhere. It's a legit third form of currency now along with fiat and precious metals. |
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Posted: 8/20/2017 12:20:50 AM EDT
[#29]
It will trade on par with Woopie's Floozie ($0.00).
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Posted: 8/20/2017 9:21:53 AM EDT
[#30]
Quote HistoryQuoted:
It will trade on par with Woopie's Floozie ($0.00). |
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Posted: 8/20/2017 3:16:56 PM EDT
[#31]
Quote HistoryQuoted:
Won't go below 2500 ever again. Will be 5k by end of year. 15k+ next 2-3 years, 50k in 5+ years. It's not a bubble if only a tiny fraction of people on earth own one any, not to mention only 21 million can ever exist and 10-20% of those are lost forever via destroyed wallets and sent to invalid addresses. Do the math: http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3 http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3 |
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Posted: 8/20/2017 7:24:04 PM EDT
[#32]
Quote HistoryQuoted:
Read Gyprat's thread in the survival forum re: Collapse of the Soviet Union. BTW, a German told me the same thing about Post WW II Germany. You bartered to survive and if you had nothing to barter, you starved. |
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Posted: 8/21/2017 12:47:07 AM EDT
[#33]
You're in OK with its deep red soil. You can grow a lot of things. Big city boys in NYC, Portland, Seattle, Los Angeles, San Francisco don't have access to a garden plot.
Like I was telling my friend who is still a LEO in SF, if you want to bring SF to its knees, cut off its water. |
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Posted: 8/21/2017 12:52:49 AM EDT
[#34]
The big unknown is What will the world banks do?
They have to be formulating schemes to control it or kill it. |
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Posted: 8/21/2017 12:54:18 AM EDT
[#35]
 Ep. 276: Bitcoin is a Digital Risk Asset, Not a Currency It's a bubble. Get out now. |
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Posted: 8/21/2017 1:21:46 AM EDT
[#36]
Quote HistoryQuoted:
The big unknown is What will the world banks do? They have to be formulating schemes to control it or kill it.  Failed To Load Title |
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Posted: 8/21/2017 7:05:31 AM EDT
[#37]
Quote HistoryI got most my funds out awhile back. I hold a little now as a hedge against dollar destabilization/high inflation.
I view the current price as bubble territory. In the long term I see it's value/future growth heavily linked to it's acceptance and low cost as a payment option. |
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Posted: 8/21/2017 7:24:35 AM EDT
[#38]
Bitcoin is the "gold" of the crypto world. It's what the valuation of all alts are tied to.
"It doesn't do anything, it's vapor, etc". Well, it's already doing what it's supposed to. I can send BTC to anyone... ANYONE in the world. ATMs are springing up like mushrooms, even in the US. It's becoming easier and easier to use. There are a lot of actual business cases being developed right now by "alt coin" companies. For example, Civic... it's being used right now by Wikihow as an identity provider. TenX Pay... a way to actually access your crypto with a "credit card" so you can use it anywhere you'd use credit. It goes on and on. Blockchain tech is a big deal, and while people who haven't educated themselves about it talk it down about being fake, a Ponzi scheme, etc., the bigger fish in the sea are quietly moving around behind the scenes to utilize it. There's a major bank near me that is looking for an Application Manager position to be filled, "looking for someone with experience with blockchain, Ripple, and other cutting edge technologies." The move is going to happen whether you're aware of it or not. A lot of people won't necessarily notice nor care; just like most people don't really understand how Western Union actually moves "money" around. As long as it works, they don't care about what is under the hood. The general public will be the last to know. I say the low going forward will be $2800. It's been supposed to "die any day now" for about 9 years now. It's still in its infancy. |
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Posted: 8/21/2017 8:00:44 AM EDT
[#39]
Quote HistoryQuoted:
BTC-E got shut down by the man, fwiw. Not sure if anyone is going to get their coins. |
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Posted: 8/21/2017 8:04:28 AM EDT
[#40]
Quote HistoryQuoted:
Only for US. Use a proxy/connect from another country and it's still there |
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Posted: 8/21/2017 8:04:34 AM EDT
[#41]
Quote HistoryQuoted:
I'm not a fan of any crypto that doesn't have a hard cap on growth. That's one of my big complaints about ether. In the end theirs probably only room for a couple cryptos. Everything else will languish and die. |
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Posted: 8/21/2017 8:05:02 AM EDT
[#42]
Quote HistoryQuoted:
Only for US. Use a proxy/connect from another country and it's still there I haven't heard anything about BTC-E coming back. |
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Posted: 8/21/2017 8:06:23 AM EDT
[#43]
Quote HistoryQuoted:
Right, but eventually the economy will rebound, and the technology itself isn't going anywhere. It's a legit third form of currency now along with fiat and precious metals. |
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Posted: 8/21/2017 8:10:45 AM EDT
[#44]
Quote HistoryQuoted:
The big unknown is What will the world banks do? They have to be formulating schemes to control it or kill it. Lending will be handled independently from banks via crowd sourcing methods. Banks require centralization, crypto is the other end of the spectrum. |
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Posted: 8/21/2017 8:13:43 AM EDT
[#45]
Quote HistoryQuoted:
No, it's completely shut down. You get the FBI notification no matter what country you're coming in from. (Opera has a built-in "VPN" you can use to move your sessions around the world)  
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Posted: 8/21/2017 8:23:17 AM EDT
[#46]
Dogecoin is where the real money is.
To the moon! |
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Posted: 8/21/2017 8:24:45 AM EDT
[#47]
Quote HistoryQuoted:
I'll have to check again later as didn't think that was the case, but how does FBI get to seize something located in another country? Bitfinex is dumping its US customers... but it's easy enough to use a VPN and simply not verify. Might even be "safer" this way without Big Brother snooping around. "Sorry, we don't have any US customers here, it's in our policy and we block US IP addresses. Have a nice day Mr FBI Guy!" |
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Posted: 8/21/2017 1:20:47 PM EDT
[#48]
Quote HistoryWhen has Peter Schiff ever been right on anything?
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Posted: 8/21/2017 1:23:23 PM EDT
[#49]
Quote HistoryQuoted:
Lynette Zang discusses the ACC (Assets Collection Coin) which the Chinese are developing on behalf of the IMF.  https://www.youtube.com/watch?v=sG3Ju8AhCKMQuote HistoryQuoted:
Quoted:
The big unknown is What will the world banks do? They have to be formulating schemes to control it or kill it. https://www.youtube.com/watch?v=sG3Ju8AhCKM |
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Posted: 8/21/2017 1:31:50 PM EDT
[#50]
I can't decide where it's going long term. It's primary use is to transfer funds and other newer coins do it better. Newer coins have additional functionality (smart contracts, etc).
But Bitcoin has name recognition and market position, which is hard to overcome. |
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