The problem with mining the coins in the block chain is costs nearly 4500 in damages to equipment and energy used as the calculations become more and more complex the unused coins still available become more costly to extract.
next problem is not hacking but students able to use university equipment fre of user charges... with those schools computers designers and equipment they race against each ternani coins. New coins come from this arenas. On e a coin is made then that no longer exists.... and the competition must go through that to get a behind the start to the next available coin....
finally Governments purchasing coverttt weapons for areas not allowed to be furnished weopon systems must use bit coin as yuan’s and usd directly would be a Geneva wart cartine violation. Hancetthe need for digital currency and the demand stable the coins harde4f and harder to mine. The price must rise
The problem with mining the coins in the block chain is costs nearly 4500 in damages to equipment and energy used as the calculations become more and more complex the unused coins still available become more costly to extract.
next problem is not hacking but students able to use university equipment fre of user charges... with those schools computers designers and equipment they race against each ternani coins. New coins come from this arenas. On e a coin is made then that no longer exists.... and the competition must go through that to get a behind the start to the next available coin....
finally Governments purchasing coverttt weapons for areas not allowed to be furnished weopon systems must use bit coin as yuan’s and usd directly would be a Geneva wart cartine violation. Hancetthe need for digital currency and the demand stable the coins harde4f and harder to mine. The price must rise
Wall, let's not kid ourselves about BC, and take a slightly longer term perspective. It has lost 70% from it's all time-high less than a year ago !! -70% !! ... That is atrocious. This stuff is so dangerous and volatile that no one should have more than 5% of their money in it. It has no value other than a trading vehicle, too volatile to be used as a currency in everyday commerce, and then you got to worry about the hackers (Mt. Gox ?) What's not to love ? This stuff is "digital gold" ... only worse. At least w/ gold, you don't have to worry about hackers...
Yeah and technically its not been positive for quite some time..meaning it cannot move higher and it seems to be making lower cycle lows as it goes. It is interesting how these future expiry days really crush the group and to think people want a BTC ETF...that is pure lunacy the big whales can short that thing to zero and get options on the ETF etc, the LAST thing someone who owns any of these should want is any mainstream ETF vehicles for these.
Quote Originally Posted by Rush51:
Wall, let's not kid ourselves about BC, and take a slightly longer term perspective. It has lost 70% from it's all time-high less than a year ago !! -70% !! ... That is atrocious. This stuff is so dangerous and volatile that no one should have more than 5% of their money in it. It has no value other than a trading vehicle, too volatile to be used as a currency in everyday commerce, and then you got to worry about the hackers (Mt. Gox ?) What's not to love ? This stuff is "digital gold" ... only worse. At least w/ gold, you don't have to worry about hackers...
Yeah and technically its not been positive for quite some time..meaning it cannot move higher and it seems to be making lower cycle lows as it goes. It is interesting how these future expiry days really crush the group and to think people want a BTC ETF...that is pure lunacy the big whales can short that thing to zero and get options on the ETF etc, the LAST thing someone who owns any of these should want is any mainstream ETF vehicles for these.
"I am a major long-term bull on BTC. I believe the narrative of $50,000, even $500,000 BTC. (...) BTC is marking time before the grand show – another parabolic advance." — @PeterLBrandt's Factor Update, November 10, 2018
"I am a major long-term bull on BTC. I believe the narrative of $50,000, even $500,000 BTC. (...) BTC is marking time before the grand show – another parabolic advance." — @PeterLBrandt's Factor Update, November 10, 2018
I suppose that we can now officially dismiss the notion that Bitcoin is like gold (the bars) in its regard as a "safe haven". It is becoming more and more apparent to my eyes that the recent declines in the stock markets are having a direct negative affect on the price of Bitcoin. The safe havens are and will always be cash and gold.
I believe that when the markets recover, Bitcoin may get a bump upward as greedy investors seek parabolic returns outside of the markets. Outside of that, Bitcoin looks like dead money even at 5K.
Wall....you predicted this nearly three months ago. Very nice call!
Gamble for entertainment, invest for wealth!
I suppose that we can now officially dismiss the notion that Bitcoin is like gold (the bars) in its regard as a "safe haven". It is becoming more and more apparent to my eyes that the recent declines in the stock markets are having a direct negative affect on the price of Bitcoin. The safe havens are and will always be cash and gold.
I believe that when the markets recover, Bitcoin may get a bump upward as greedy investors seek parabolic returns outside of the markets. Outside of that, Bitcoin looks like dead money even at 5K.
Wall....you predicted this nearly three months ago. Very nice call!
Yeah kind of scary remembering back when people were saying to buy this and that and that I was missing out on this opportunity.
I seem to remember that I should buy XRP at 3 and ADA at 1 and XLM at 1 etc.
Id be interested now in LTC under 10, XMR under 25, I might even set up an acct so if I want to purchase something I can, but the severity of the drop makes me think even down here it is not done yet.
For how bad the selling is, pull up a 2 yr chart, most all of these names are still way above a two year chart...so they can for sure get cheaper.
Yeah kind of scary remembering back when people were saying to buy this and that and that I was missing out on this opportunity.
I seem to remember that I should buy XRP at 3 and ADA at 1 and XLM at 1 etc.
Id be interested now in LTC under 10, XMR under 25, I might even set up an acct so if I want to purchase something I can, but the severity of the drop makes me think even down here it is not done yet.
For how bad the selling is, pull up a 2 yr chart, most all of these names are still way above a two year chart...so they can for sure get cheaper.
I preached to anyone I knew in Bitcoin to take profits last year. Some did, some didn't. I'm old enough to know that most get rich quick schemes don't end well. I hesitated to use the word "scheme" in describing crypto and Bitcoin but then I thought about all of the Facebook adds selling crypto hardware and software and all of the other crooked coins out there.
So many people got scammed on all of these various coins. I still remember a few that actually made it on CNBC before they were exposed. I wonder how many of those crooked operators end up in prison?
Gamble for entertainment, invest for wealth!
I preached to anyone I knew in Bitcoin to take profits last year. Some did, some didn't. I'm old enough to know that most get rich quick schemes don't end well. I hesitated to use the word "scheme" in describing crypto and Bitcoin but then I thought about all of the Facebook adds selling crypto hardware and software and all of the other crooked coins out there.
So many people got scammed on all of these various coins. I still remember a few that actually made it on CNBC before they were exposed. I wonder how many of those crooked operators end up in prison?
Ok so I guess its time for me to start looking up what wallets and funding options there are and that which makes the most privacy and safety. I did some research that these wallets can vary for safety, features, what coins you can buy and I read some reviews on a few of them.
So what out is the best for safety, ease, liquidity, fast clearing, large number of coins to hold etc..I will shoot straight with this meaning I am not looking to try and cheat the government on any gains or avoid the IRS in any way.
Ok so I guess its time for me to start looking up what wallets and funding options there are and that which makes the most privacy and safety. I did some research that these wallets can vary for safety, features, what coins you can buy and I read some reviews on a few of them.
So what out is the best for safety, ease, liquidity, fast clearing, large number of coins to hold etc..I will shoot straight with this meaning I am not looking to try and cheat the government on any gains or avoid the IRS in any way.
Opened with Coinbase, the hoops were crazy and linking my bank account was a hassle. I have not deposited to the fiat section yet but I guess I am able.
I noticed that Coinbase has a wallet for some of the coins but I am considering buying that Ledger storage thing so if I do buy some then they wont be held online.
Opened with Coinbase, the hoops were crazy and linking my bank account was a hassle. I have not deposited to the fiat section yet but I guess I am able.
I noticed that Coinbase has a wallet for some of the coins but I am considering buying that Ledger storage thing so if I do buy some then they wont be held online.
I was not impressed with Coinbase. I set up an account there but never deposited any USD because it took them over a week to handle a simple customer service issue with my logon password (which I had correct but was being denied for reasons unknown).
Anyway, Bitcoin has seen a nice bump up this week but I doubt we go higher. Bitcoin is still impractical as a currency, impossible to use as a store of value due to its volatility, and is still subject to hacks/thievery. Bitcoin remains a speculative investment that only benefits you at any buy price unless someone else is willing to pay more. Now that the mania has settled down, only the big players will make Bitcoin go higher. But what fundamentals are in place? Bitcoin provides no value within itself (no dividend) and consumes as much or more in assets (computer power and electricity) as it is technically worth.
I warned everyone about this at 5K, 10K, and 19K and then on the way down to where it is now. I'm surprised you are considering this Wall? I know you are a market bear, but surely there are better places to make money.
Gamble for entertainment, invest for wealth!
I was not impressed with Coinbase. I set up an account there but never deposited any USD because it took them over a week to handle a simple customer service issue with my logon password (which I had correct but was being denied for reasons unknown).
Anyway, Bitcoin has seen a nice bump up this week but I doubt we go higher. Bitcoin is still impractical as a currency, impossible to use as a store of value due to its volatility, and is still subject to hacks/thievery. Bitcoin remains a speculative investment that only benefits you at any buy price unless someone else is willing to pay more. Now that the mania has settled down, only the big players will make Bitcoin go higher. But what fundamentals are in place? Bitcoin provides no value within itself (no dividend) and consumes as much or more in assets (computer power and electricity) as it is technically worth.
I warned everyone about this at 5K, 10K, and 19K and then on the way down to where it is now. I'm surprised you are considering this Wall? I know you are a market bear, but surely there are better places to make money.
Yeah I think this isnt going away and the prices for most all of these are severely oversold but as you mention they can get even more oversold for sure.
I have Coinbase all setup but have not transferred cash to the platform yet, I dont know how long their ACH clearing takes but I should move some just in case.
Watching those that moved more during this bump is telling, I saw that EOS really moved up, LTC not as much relatively speaking.
Ill see if I want to give it a shot, this isnt some long term position rather thinking the first of the year might see a move higher off these severe lows.
Yeah I think this isnt going away and the prices for most all of these are severely oversold but as you mention they can get even more oversold for sure.
I have Coinbase all setup but have not transferred cash to the platform yet, I dont know how long their ACH clearing takes but I should move some just in case.
Watching those that moved more during this bump is telling, I saw that EOS really moved up, LTC not as much relatively speaking.
Ill see if I want to give it a shot, this isnt some long term position rather thinking the first of the year might see a move higher off these severe lows.
The advertisers pitching 5K Bitcoin mining hardware have disappeared and startup mining costs continue to fall. A person so inclined, can get involved in mining BTC for a much lower cost when compared to the past few years indicating that the "mania" phase is now dead and buried. This should contribute to allowing the price of BTC to finally settle down and find a long term price where it would theoretically stabilize (aka the long term price of gold). Whatever that price is, I'm not interested.
Whenever I hear the so called "experts" call for a return to 20k or 50K BTC, I scratch my head. I don't believe the mania will ever return to lift Bitcoin to these levels. I almost see it as an impossibility. Bitcoin evolving into a currency over the next 10 years would only serve to reduce the volatility in its price. People looking to get rich here should definitely be looking elsewhere. It ain't happening.
Gamble for entertainment, invest for wealth!
The advertisers pitching 5K Bitcoin mining hardware have disappeared and startup mining costs continue to fall. A person so inclined, can get involved in mining BTC for a much lower cost when compared to the past few years indicating that the "mania" phase is now dead and buried. This should contribute to allowing the price of BTC to finally settle down and find a long term price where it would theoretically stabilize (aka the long term price of gold). Whatever that price is, I'm not interested.
Whenever I hear the so called "experts" call for a return to 20k or 50K BTC, I scratch my head. I don't believe the mania will ever return to lift Bitcoin to these levels. I almost see it as an impossibility. Bitcoin evolving into a currency over the next 10 years would only serve to reduce the volatility in its price. People looking to get rich here should definitely be looking elsewhere. It ain't happening.
QuadrigaCX filed for creditor protection in Nova Scotia. This is a bizzare story. They cannot access cold storage funds. Do not store your crypto on an exchange.
Meanwhile back in Canada...
QuadrigaCX filed for creditor protection in Nova Scotia. This is a bizzare story. They cannot access cold storage funds. Do not store your crypto on an exchange.
Yeah Hockey Teeth. It's just a big mess and just like guys like Madoff exist in the equity investment world, you can be sure that a slew of criminals are busy stealing crypto and fiat at this very minute somewhere miles and miles away from the QuadrigaCX situation that is currently unfolding. The bad players in crypto are going to steal as much as they can as fast as they can before regulation catches up.
Gamble for entertainment, invest for wealth!
Yeah Hockey Teeth. It's just a big mess and just like guys like Madoff exist in the equity investment world, you can be sure that a slew of criminals are busy stealing crypto and fiat at this very minute somewhere miles and miles away from the QuadrigaCX situation that is currently unfolding. The bad players in crypto are going to steal as much as they can as fast as they can before regulation catches up.
So now it seems that Gerald Cotton is being rumored to having faked his own disappearance and death in India and has made off with 190M in Bitcoin.
Regardless of the fact of his actual or faked death, for crypto owners the result is the same. They are left with lint in their pockets....broke and busted.
What a scam!
Gamble for entertainment, invest for wealth!
So now it seems that Gerald Cotton is being rumored to having faked his own disappearance and death in India and has made off with 190M in Bitcoin.
Regardless of the fact of his actual or faked death, for crypto owners the result is the same. They are left with lint in their pockets....broke and busted.
So, the un-hackable cold wallets were not frozen shut as the passwords were discovered.....and guess what??? The 150M in bitcoin had been emptied over 9 months ago. The wallets were EMPTY. It seems Mr. Cotton had created 14 aliases on other exchanges where the bitcoin had been moved, but that bitcoin has now disappeared as well.
So, what we know now for sure, is that foul play was indeed resolved. It is uncertain if Mr. Cotton's body was actually recovered in India (I doubt it was) and if it was not, then you can be sure he will never be heard from again anyway. Investigators have so far recovered 25M in cash that had been liquidated an hidden along with other smaller cash hiding places.
Meanwhile, investors in bitcoin totaling the 150M that thought their investment had been in safe storage in a cold wallet, are still left out in the cold watching court proceedings wondering if they will ever get back pennies on the dollar.
Detox....I know you were a strong proponent of this dumpster fire but I hope you got out long ago.
Gamble for entertainment, invest for wealth!
UPDATE: QUADRIGACX!!!
So, the un-hackable cold wallets were not frozen shut as the passwords were discovered.....and guess what??? The 150M in bitcoin had been emptied over 9 months ago. The wallets were EMPTY. It seems Mr. Cotton had created 14 aliases on other exchanges where the bitcoin had been moved, but that bitcoin has now disappeared as well.
So, what we know now for sure, is that foul play was indeed resolved. It is uncertain if Mr. Cotton's body was actually recovered in India (I doubt it was) and if it was not, then you can be sure he will never be heard from again anyway. Investigators have so far recovered 25M in cash that had been liquidated an hidden along with other smaller cash hiding places.
Meanwhile, investors in bitcoin totaling the 150M that thought their investment had been in safe storage in a cold wallet, are still left out in the cold watching court proceedings wondering if they will ever get back pennies on the dollar.
Detox....I know you were a strong proponent of this dumpster fire but I hope you got out long ago.
This is a classic bubble/mania trap. 97% of Bitcoin owners own 1/10th of a bitcoin or less. Therein lies your answer for how high the price has gone....mom & pop, your neighbor and the pet groomer are all buying Bitcoin. I had a friend that bought in at 10K despite my more conservative recommendations (XLF) and all I can do is eat crow right now. I sincerely hope people make money here, but you need an exit strategy because eventually the music will stop playing. Above is my post from December 9th when Bitcoin approached 20K in my Bitcoin 10K thread. So call me a hater or negative or an interloper. I'm just trying to give my opinion and so far my advice has been spot on. Good luck to you sir. My advice would be to treat these investments like gambling money.
Bitcoin rallied today but I'm wondering where all of the experts predicting $50,000 went?
Gamble for entertainment, invest for wealth!
Quote Originally Posted by gambleholic63:
This is a classic bubble/mania trap. 97% of Bitcoin owners own 1/10th of a bitcoin or less. Therein lies your answer for how high the price has gone....mom & pop, your neighbor and the pet groomer are all buying Bitcoin. I had a friend that bought in at 10K despite my more conservative recommendations (XLF) and all I can do is eat crow right now. I sincerely hope people make money here, but you need an exit strategy because eventually the music will stop playing. Above is my post from December 9th when Bitcoin approached 20K in my Bitcoin 10K thread. So call me a hater or negative or an interloper. I'm just trying to give my opinion and so far my advice has been spot on. Good luck to you sir. My advice would be to treat these investments like gambling money.
Bitcoin rallied today but I'm wondering where all of the experts predicting $50,000 went?
Tezos (XTZ) has been performing well. Coinbase and Binance are offering staking services in the 2nd quarter so one would think they will also list it on their exchanges. Some big names like the Winklevoss twins and Draper are invested in it. Tezos should see a massive run during the next bull run.
I think BTC $6k will be tested, one more pullback under $5k and then the next bull run will start.
I was new to all of this a while ago, got my behind handed to me, and bought more at the lows. Wew what a learning process. I have done a massive amount of research and have watched everything closely trying to learn as much as possible over the last couple of years.
I’m currently in Tezos, Ont, Zil and Ripple. I don’t like Ripple I just think the chart looks ready for a pump.
Tezos (XTZ) has been performing well. Coinbase and Binance are offering staking services in the 2nd quarter so one would think they will also list it on their exchanges. Some big names like the Winklevoss twins and Draper are invested in it. Tezos should see a massive run during the next bull run.
I think BTC $6k will be tested, one more pullback under $5k and then the next bull run will start.
I was new to all of this a while ago, got my behind handed to me, and bought more at the lows. Wew what a learning process. I have done a massive amount of research and have watched everything closely trying to learn as much as possible over the last couple of years.
I’m currently in Tezos, Ont, Zil and Ripple. I don’t like Ripple I just think the chart looks ready for a pump.
I got registered and set up my bank acct info on coinbase, I bot a Nano S for storage and was waiting for 2500 on Bitcoin or in the 20's on Lite but neither happened.
I dont like XRP, it is a disaster and hasnt bounced much at all relative to others. Same goes for Cardano and Stellar.
Its tough because I was ready to throw 10k plus at it but I gotta get rewarded for the risk and at these prices the reward has gone way down....so I am either going to wait for a retrace or likely miss out.
One negative about the Nano S is it wont hold all and any so I am limited to what I can buy and store.
Quote Originally Posted by I_Need_A_Detox:
Wall did you get in or still waiting?
I got registered and set up my bank acct info on coinbase, I bot a Nano S for storage and was waiting for 2500 on Bitcoin or in the 20's on Lite but neither happened.
I dont like XRP, it is a disaster and hasnt bounced much at all relative to others. Same goes for Cardano and Stellar.
Its tough because I was ready to throw 10k plus at it but I gotta get rewarded for the risk and at these prices the reward has gone way down....so I am either going to wait for a retrace or likely miss out.
One negative about the Nano S is it wont hold all and any so I am limited to what I can buy and store.
What would you want to buy that the Nano S doesn’t hold? Just buy BTC on Coinbase, ship it over to HitBTC, buy Tezos and then store it on your Nano S. Simple.
When I purchased the Nano it does not support all that many cryptos, only 20 or so not that I am wanting to buy some wacky ones.
Also I am really not wanting to buy and ship and buy again, in fact thats one of the problems I see with cryptos the inability to purchase what you want without the multiple of hoops and steps.
Quote Originally Posted by I_Need_A_Detox:
What would you want to buy that the Nano S doesn’t hold? Just buy BTC on Coinbase, ship it over to HitBTC, buy Tezos and then store it on your Nano S. Simple.
When I purchased the Nano it does not support all that many cryptos, only 20 or so not that I am wanting to buy some wacky ones.
Also I am really not wanting to buy and ship and buy again, in fact thats one of the problems I see with cryptos the inability to purchase what you want without the multiple of hoops and steps.
Hot Forum Topics
