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It seems to me that this thread has run its course. The naysayers - who neither understood the spirit in which the thread was first posted, nor did they understand the nature of the topic being discussed - aren’t going to allow the people who are <em>already</em> invested and interested to have a friendly discussion about it without ridiculing them, or as happened to me, impugning their character and motives with a scurrilous and vile accusation. I suppose that debby-downers are necessary to all ecosystems, but at this point, I think a moderator ought to lock the thread. This is my last post in it. I hope that those who wrecked it for the rest of us with their negativity and ridicule don’t object when I return the favor in their own threads down the road, as such an objection might constitute a level of hypocrisy that would definitely need to be pointed out in those threads. Maybe then they might lose some of their social tone-deafness and rediscover a respect for the dignity of others.

So with that, I’m going to contact the moderator for this forum and ask that the thread be locked.

1911 Raptor wrote:I find it incredible that you only report good news hoping to gain other investors so you can profit. Not one post from you or others about the 100 billion loss in 24 hours but you want to tout your modest gains in the hope of luring others to this created out of thin air crypto currency that one can’t even touch unless it is converted to US dollars or some other form of acceptable currency.

That’s a vile and dishonorable accusation, and so disconnected from the truth, not to mention common human decency, that there’s no profit in spending another minute of time on you. Thankfully, the forum software includes a blocking function.

Buh-bye.

1911 Raptor wrote:

The Annoyed Man wrote:

OldCannon wrote:Don't fool yourselves. China is the #1 miner of cryptocurrency. You don't kill your cash cows.

Exactly. That’s why China is not going anywhere. They were relatively early adopters, and they’ll stay in because it is good for them.

Another off the crypto currency.

https://www.crowdfundinsider.com/2018/0 ... g-bitcoin/

Nice deflection. When did Indonesia become China?

Next, ask yourself: “Are Indonesia and South Korea truly free societies?” Not really. What they ARE is firmly anti-communist. Being anti-communist alone is no guarantee of liberty, if your gov’t seeks to control all other facets of your existence. There’s all kinds of other things those two countries do to control their citizens which would not fly here, and make no mistake, this is about control. For instance....have you ever tried to buy a gun in South Korea? Good luck. Your odds are much higher of legally getting one in anti-gun Australia or socialist Europe. Do you think that caning on top of the fines is an excessive punishment for misdemeanors? If yes, then Indonesia is not a free society. Both countries are HIGHLY regulated societies. On the other hand, if you agree with how those governments control their citizens, then you fundamentally do not understand the Constitution of the United States.

In the U.S., which, despite the best efforts of the DNC, is still a country where the concept of individual liberty holds some sway, cryptocurrency trading is perfectly legal. Where does the primary opposition to crypto in the US come from? Banks first, gov’t second. Banks don’t like it .... or haven’t until recently liked it.... because it cuts them out of the fee chain for financial transactions. Gov’t didn’t like it until the tax issues were addressed. Those tax issues HAVE been addressed. And as banks figure out how to convert their processes to crypto platforms, they will come on board. Indeed, some already have.

Is crypto risk free? No. And at no point in this thread have I said it was. But, neither is Real Estate or the Stock Market. As with ALL investment vehicles, cryptocurrencies being no exception, the higher the return, the greater the risks. No investment market, regardless of what’s being traded, is a place for cowards or pessimists. That’s capitalism, baby. If you have no faith in it, don’t engage in it. But it is pretty obnoxious to keep peeing in everyone’s cornflakes here. You’re not doing anyone a service; you’re just getting your fancy tickled. It’s tiresome.

What I HAVE said repeatedly in this thread is that, right now, there is no other investment that is performing like cryptocurrency. That’s just a fact. Even with the losses posted over the last 24-48 hours, I am STILL ahead of the game.....at a greater rate than any of my other investment accounts. The current dip WILL reverse itself, and prices WILL go back up. At the very least, now is the time to HOLD, not SELL. For my own part, I will probably buy some more Etherium today if I can get the cash uploaded to my account quickly enough. If the price rises to more than I want to spend before I can get it uploaded, I’ll just sit on the uploaded $$ and wait for the next dip.

Will I ever sell part or all of it off? Yeah, maybe at some point down the road. But that point will be determined by the same kinds of external-to-the-market factors that would prompt someone to sell off some blue-chip stocks.......like maybe for the cash $$ to buy a car, or a house, or land, etc., etc.

OTH, if the country adopts some form of crypto as a common medium of exchange, I may not even have to convert the assets to $$ to make that transaction happen. At that point, for a fairly small investment of $$, I’ll be like the guy who sold pizzas for two Bitcoin each way back when. Do you think HE’s making pizzas any longer, for any other reason than it simply makes him happy to do it? Every single one of those Bitcoin that he accepted in payment at a $1 value is still worth $9,896 at this very moment, even in the face of the dip.

And by the way, that story is 100% true. The Bitcoin blockchain verifies it.

OldCannon wrote:Don't fool yourselves. China is the #1 miner of cryptocurrency. You don't kill your cash cows.

Exactly. That’s why China is not going anywhere. They were relatively early adopters, and they’ll stay in because it is good for them.

1911 Raptor wrote:

The Annoyed Man wrote:Chinese New Year. It’s already on the way back up. Apparently, it does this every year at this time.

I’ve made three purchases of Etherium so far:

1. $900 on 12/14, at $712/Eth. I am still ahead $347 on that purchase at this moment.

2. $100 on 12/22, at $559/Eth. I am still ahead $75 on that purchase at this moment.

3. $450 on 01/11, at $1168/Eth. I am down $72 on that purchase at this moment.

I currently hold 2.03032551 Eth. For which I have spent a total of $1450.00. Even at this momentary dip price of $988/Eth, my current holdings are valued at $2005.96. That puts me ahead by $555.96 .......in less than a month.

You should read more. China is getting ready to ban Crypto Currencies, it has nothing to do with Chinese New Year but hey spin it however you want.

Not so. YOU should read more. The Chinese gov’t fairly recently issued an edict saying that cryptocurrency speculation was within what’s acceptable for their version of individual capitalism. THEN, a few days ago, one gov’t employee made a comment that they “may have to” ban it. It is suspected that he was short-selling.

Every year for the last several years - ever since the Chinese have been involved - the 2 weeks before the Chinese New Year produces this result, except that until now, the results have been less dramatic because the market was much smaller. In the next 2 weeks or so, the prices will be right back up where they were.

Last Hour:


Last Day:


Last Week:


Last Month:


Last Year:


Entire History:


Sorry to disappoint you dude. BTW, if you look at the same charts for Bitcoin, Bitcoin Cash, and Litecoin, while there are differences, the charts are shaped roughly the same, over the same time time periods. But you do you, booboo.

bblhd672 wrote:

1911 Raptor wrote:I wondered why it has been so quite on this thread. 10 biggest crypto currencies lost 100 billion dollars in a 24 hour period!

https://www.msn.com/en-us/money/markets ... cid=HPCDHP

So, time to buy....

Exactly! Eth dipped to $840 this afternoon, and I had no disposable cash at the moment. So my next task is to set aside a few hundred $$, convert it to USDT and sit on it until the next dip.

Chinese New Year. It’s already on the way back up. Apparently, it does this every year at this time.

I’ve made three purchases of Etherium so far:

1. $900 on 12/14, at $712/Eth. I am still ahead $347 on that purchase at this moment.

2. $100 on 12/22, at $559/Eth. I am still ahead $75 on that purchase at this moment.

3. $450 on 01/11, at $1168/Eth. I am down $72 on that purchase at this moment.

I currently hold 2.03032551 Eth. For which I have spent a total of $1450.00. Even at this momentary dip price of $988/Eth, my current holdings are valued at $2005.96. That puts me ahead by $555.96 .......in less than a month.

Bitter Clinger wrote:Interesting, educational article, "Everything you needed to know about Bitcoin":

https://www.linkedin.com/pulse/everythi ... s-altucher

That’s a great link. Thanks for providing it. I’ve bookmarked it to show to others because it explains the advantages of cryptocurrency better than I can.

bbhack wrote:

Russell wrote:What are yalls thoughts on Ripple?

We have a little Ripple. Bought some back when you could buy it on their website (2 years ago?). Recently picked up a few more.

Ripple is a commercial payment infrastructure, so it is different than all other things out there, even though they look deceptively similar. Past that, I don't know. I guess it's as good for speculating as other things.

The deal with Ripple is that a few banks are using it now to process their transactions. The hope is that it will become sort of universal to the banking industry. If it does, then those that got in cheap will get rich pretty quick. I had some Ripple (XRP).....not too much, maybe $100 worth. I bought at about $2.35, watched it go up to around $3.75, said to my self “yippee, and we’re off”, and then watched it go back down to $2.35. I bailed and converted it to Ether, all except for 0.918 XRP that Binance wouldn’t let me convert for some reason. Right now, XRP is trading at $1.98 on Binance.

I’ve been browsing the Reddit XRP/Ripple forums to see if anyone has an explanation for that price drop than Coinbase’s announcement that they would not be adding XRP to their stable this year, and for some kind of intelligence on future projections. OR, will XRP turn out to be another dud? Who knows. In the meantime, I’ve just deposited my Christmas cash by wire transfer to Coinbase/GDAX and plan to invest it in 2 or 3 other coins which I’m doing research while I wait for the transfer to complete.

bblhd672 wrote:

AndyC wrote:

The Annoyed Man wrote:The former works for Etherium only

As well as all ERC-20 compliant coins that run on the Ethereum network - BAT, EOS, Ethos, Funfair, Storj, etc, etc:

https://etherscan.io/tokens

Where's the best place to go to get a good basic education in crypto-currencies?

AndyC might be able to answer that question better than I can. I’ve just done what he suggested, and it made sense and worked. BTW, as of today, my gains exceed my original investment.

Look for an inbound PM.

BBYC wrote:

Liberty wrote:Trading cryptocurrencies is commodity trading, it's no different than pork bellies or precious metals.

Now I'm thoroughly confused. Are they currencies or commodities?

If you think of currencies as commodities, it might help.

Liberty wrote:Before this thread completely goes away, I have a coinbase account would there be an advantage to setting up my own wallet on my own computer. Can I keep a copy of my wallet on my wife's machine?

I would advise to set up a paper wallet on MyEtherWallet.com, and then buy a Nano S hardware wallet to back up all of your investments. The former works for Etherium only, and the latter can backup all kinds of crypto. The hardware wallet air-gaps your holdings from the internet where they cannot be accessed at all unless YOU do it. So far, I have set up a paper wallet, and I have ordered and received the Nano S, but I have not set the Nano S up yet. I plan to get that done today. AndyC has thoroughly tested his, including actually wiping the device and then recovering his accounts, and it worked flawlessly.

http://www.myetherwallet.com (you will have to click through some cyber-security warning/disclaimer panels before you can access the content)

https://www.ledgerwallet.com/products/ledger-nano-s (there are videos on the page which explain how it works)

1911 Raptor wrote:

AndyC wrote:Carlson1 - please delete this thread; it's obviously run its course. I'll carry on doing my own thing and just shut my trap in the future.

Why delete a thread because people are asking questions? Is there something to hide in crypto currency?

No, there is nothing to hide, and none of you naysayers has been asking questions out of any reason other than trying to make a negative rhetorical point; rather than out of genuine curiosity about how these markets work. I think AndyC started the thread because he thought it was pretty cool stuff, and he hoped that others would compare their own investment strategies in crypto currency - that this would become a discussion of how people are doing it, NOT whether or not it is a real thing, or whether or not people are fools for participating in it.

I’ve lost interest in the discussion too. It boils down to this: those that get it, will, and those that don’t, won’t. Personally, I’ve never been a futures trader, or a stock trader, or a fiat currencies trader, or any of those things. But I have never devoted any energy to criticizing the strategies of people who do dabble in those things, or to criticize those things themselves, or to make it sound like those that do dabble in them don’t know what they’re doing. And if they get burned, I don’t say “I told you so”. Why? Because (A) my mind is open enough to concede it possible that one can make a killing in something about which I don’t have a whole lot of knowledge; and (B) because I’d rather be an encourager than a discourager. What I’ve seen here is a lot of ridicule coming from people who demonstrably DON’T get it, and don’t want to get it. I am reminded of a friend of mine and his sister back in California. They were each approached about buying $5,000 worth of stock in either Apple or Microsoft....I don’t remember which it was, but it was one of those two......right at the beginning, when the company was JUST getting started. The brother, who actually had the money just laying around, said “Nah, I’ll pass. This personal computer stuff will never become a reality in any big way.” The sister, who scrimped and saved and made some sacrifices here and there to come up with the $5000 said “sure, I’m in.” She bought $5000 in initial stock in a company that became a global tech giant. Her brother became whatever he became, neither rich nor poor. She became a millionaire several times over in a few short years - off that one stock purchase.

I suspect that Andy is just disappointed in the direction the conversation took, that it is being dominated by discussion of the legitimacy of crypto trading, rather than a discussion about techniques and other ideas for those who ARE interested. I’m inclined to agree.

Peace out.

1911 Raptor wrote:

OldCannon wrote:

1911 Raptor wrote:
My bank accounts are protected and insured

You might want to rethink that statement once you understand how your money is "insured" by the FDIC.

Short version: You're going to be mighty disappointed if you think you're gonna get your money back.

Don’t quote only part of what I said and leave out the proof. My money was taken but it was replaced under current provisions of the bank and card company.

https://support.coinbase.com/customer/p ... e-insured-

Coinbase prioritizes the security of our customer's funds, all digital currency that Coinbase holds online is insured. If Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result. Coinbase holds less than 2% of customer funds online. The rest is held in offline storage.

Please note that the insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft. This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Coinbase and GDAX.

........

If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.

rotor wrote:For you cryptocurrency people, tomorrow I propose we issue 20,000 gun coins and offer them at $10 each. We will trade them exactly as if they were bitcoin or one of the other phenomena. How many of you would like to get in on this one time low price offer?

That’s NOT how crypto works!

OK, I’m done for realz.