Author Topic: Cryptocurrency Master Thread  (Read 216444 times)

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Offline Phil Titola

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Re: Cryptocurrency Master Thread
« Reply #1875 on: August 10, 2020, 08:22:35 AM »
I got completely out of BTC in favor of some of the smaller players.  they are all about leveled off at the prices I got them so thinking maybe going back into the big boy with those funds?

Offline Kat Kid

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Re: Cryptocurrency Master Thread
« Reply #1876 on: August 10, 2020, 09:06:45 AM »
I got completely out of BTC in favor of some of the smaller players.  they are all about leveled off at the prices I got them so thinking maybe going back into the big boy with those funds?
Yeah I think that is a good idea. The one thing that is now undeniable is that bitcoin is increasingly tied to the stock market, so if you think there is another big sell off coming (or even just a 10-15% sell off) then you should start a position now and then be ready to come back in with the rest when that happens. I see this playing out as similar to last time with it topping out around 16-20 and then flash crashing and slowly building again for another few years.

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1877 on: August 12, 2020, 03:18:07 PM »
crap. I was gonna get some ETH and convert that over to some Alts in Etherdelta once I figured out how to use it :lol:

Guess I'll have to wait until the price drops again

Why not just use Shapeshift or Changelly?

They don't have this one alt I'm looking for (LINK). Thx for the info on EtherDelta though friend

I had never heard of ChainLink but it sounds interesting from the little bit I just read.  Have you read the white paper on it?

https://link.smartcontract.com/whitepaper

:surprised:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Offline 8manpick

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Re: Cryptocurrency Master Thread
« Reply #1878 on: August 12, 2020, 04:13:23 PM »
Hey, I've got some of that!   :emawkid:
:adios:

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1879 on: August 12, 2020, 08:53:55 PM »
There were a crap load of alts that have had a good last couple of days and GREAT days today. Wow!

I'm not seeing any of that(although BTC is rallying from the lol bear attempt) raining dolla dolla bills but happy for my buds who did benefit!   :cheers:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Offline SeanSnyder4Prez

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Re: Cryptocurrency Master Thread
« Reply #1880 on: August 14, 2020, 12:11:33 AM »
https://twitter.com/stoolpresidente/status/1293993222868369408?s=21

I don’t care if you like portnoy or not, but him getting in on the Bitcoin space is a very fun time

Offline SeanSnyder4Prez

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Re: Cryptocurrency Master Thread
« Reply #1881 on: August 14, 2020, 12:12:27 AM »

Offline Kat Kid

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Re: Cryptocurrency Master Thread
« Reply #1882 on: August 14, 2020, 08:22:52 AM »
The winklevoss twins talking about Elon musk mining gold on asteroids until gold is worthless is one of the dumbest things I’ve ever heard an adult try to explain to someone else.

Offline SeanSnyder4Prez

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Re: Cryptocurrency Master Thread
« Reply #1883 on: August 14, 2020, 03:51:51 PM »
 
The winklevoss twins talking about Elon musk mining gold on asteroids until gold is worthless is one of the dumbest things I’ve ever heard an adult try to explain to someone else.

Agreed. And they didn’t really explain bitcoin... still a fun addition to the space imo.

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1884 on: August 14, 2020, 07:50:57 PM »
:users:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Offline Kat Kid

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Cryptocurrency Master Thread
« Reply #1885 on: August 14, 2020, 11:27:11 PM »
Shocked it failed again at $12,000, get ready for another few weeks of consolidation. But Unfortunately, BTC is really highly correlated with the stock market now.

I’m just telling you, save some fiat currency for when the stock market sells off and buy the dip in BTC if you still love it. Don’t plow in when it sneaks past $12,000 thinking you are getting the start of a big move.

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1886 on: August 14, 2020, 11:35:46 PM »
If you are playing the time the market game KK is talking about, sure. If you are playing the long game, 5, 10, 15 years down the road. It doesn’t matter what price you buy at now.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Offline Kat Kid

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Re: Cryptocurrency Master Thread
« Reply #1887 on: August 15, 2020, 10:04:01 AM »
If you are playing the time the market game KK is talking about, sure. If you are playing the long game, 5, 10, 15 years down the road. It doesn’t matter what price you buy at now.
If you really bought it at $230, god bless. But when I look at this chart and I think about what the underlying “asset” is, I would be particularly concerned about what my entry price is! 

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1888 on: August 15, 2020, 10:20:16 AM »
If you are playing the time the market game KK is talking about, sure. If you are playing the long game, 5, 10, 15 years down the road. It doesn’t matter what price you buy at now.
If you really bought it at $230, god bless. But when I look at this chart and I think about what the underlying “asset” is, I would be particularly concerned about what my entry price is! 

I did in the $370 range but yeah, super low. The underlying asset is better than gold, and its fixed supply. We are still SO early, I trust the model and am not looking short term, which I have been very clear about. Believe what you want but buying at any price now will pay off in the future.


https://twitter.com/100trillionusd/status/1286943287862059008
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Offline Kat Kid

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Re: Cryptocurrency Master Thread
« Reply #1889 on: August 15, 2020, 12:54:33 PM »
I am NOT a gold bug, but I think most people would agree that gold has more intrinsic value than BTC. There is a very long history of gold as both a currency and jewelry. It may lose 50% of its value over a 10 year window, but it won’t be worthless.

BTC is very new so no one really knows what will happen, but if you think fiat currencies are worthless, I don’t see how people believe BTC has inherent value. One theory I regularly hear is that fiat currencies are dying and that BTC will overtake countries currencies as a store of value. This seems extremely unlikely, mostly because bitcoin doesn’t have nuclear weapons backing it and every government would have a strong incentive to outlaw BTC if it began to actually threaten their currency. “Well, actually that won’t work because of the blockchain!” This severely underestimated the power of governments to control transactions, infrastructure and banking and those controls aren’t going anywhere and if anything are getting stronger.

It is obviously an intriguing investment and congrats on your early investment. I just don’t know that having more than 5% of your money in it is wise at all as I view it as speculation and the volatility of it cuts strongly against it as a “store of value” and everyone is obviously piling in to it because they think it will continue to go up in price.

Online wetwillie

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Re: Cryptocurrency Master Thread
« Reply #1890 on: August 15, 2020, 01:30:05 PM »
Very well stated KK, I think the long term winner will play within the system not outside of it. 
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Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1891 on: August 15, 2020, 01:54:33 PM »
I am NOT a gold bug, but I think most people would agree that gold has more intrinsic value than BTC. There is a very long history of gold as both a currency and jewelry. It may lose 50% of its value over a 10 year window, but it won’t be worthless.

BTC is very new so no one really knows what will happen, but if you think fiat currencies are worthless, I don’t see how people believe BTC has inherent value. One theory I regularly hear is that fiat currencies are dying and that BTC will overtake countries currencies as a store of value. This seems extremely unlikely, mostly because bitcoin doesn’t have nuclear weapons backing it and every government would have a strong incentive to outlaw BTC if it began to actually threaten their currency. “Well, actually that won’t work because of the blockchain!” This severely underestimated the power of governments to control transactions, infrastructure and banking and those controls aren’t going anywhere and if anything are getting stronger.

It is obviously an intriguing investment and congrats on your early investment. I just don’t know that having more than 5% of your money in it is wise at all as I view it as speculation and the volatility of it cuts strongly against it as a “store of value” and everyone is obviously piling in to it because they think it will continue to go up in price.

Right now, oh yeah the vast majority of people agree that gold has more intrinsic value.  Like I said we are SO early in the era of Bitcoin.  It's already hard enough to truly get(I mean from a technical and cryptography standpoint) Bitcoin because there is so much to know.  Bitcoin may gain or lose a ton of value but it is also not going to zero.

People believe BTC has inherent value because it has all the properties that gold has that make gold the best form of money we've ever had.  Gold has a couple of keys properties that make it good money, and why every successful civilization that sustained it were using gold as a form of money.  Ever since we and the rest of the world got off the gold standard we have left it to governments to regulate our money supply.  When you don't have something backing your money and you keep issuing it it loses value, I don't need to get into why.  If governments have runaway inflation they will have to go back to having their money backed by a reserve currency or using that reserve currency as their money.  The thought is that because Bitcoin has the same and better properties as gold governments will use BTC as their reserve currency instead of gold if they go back to a reserve currency model.  Governments and financial institutions are already starting to see the value of Bitcoin and are using it more, not less.  I have recommended it before but read The Bitcoin Standard by Saifedean Ammous, it's a book about Bitcoin that only talks about Bitcoin for about 10% of the book.  I think it should be mandatory reading just to give people a history of money in general.

Eventually the volatility will subside and it will be a true store of value IMO.  Bitcoin is not going away so not having a decent piece in your portfolio is a mistake IMO.
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Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1892 on: August 16, 2020, 08:58:51 AM »
Hour candles :sdeek:

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Online wetwillie

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Re: Cryptocurrency Master Thread
« Reply #1893 on: August 16, 2020, 10:26:33 AM »
TBT, what do you think about the Flare/XRP/Spark situation?  It sounds like ripple the company is funding Flare to utilize smart contracts and holders of XRP on the ledger will receive a 1:1 amount of free Spark for each XRP they have. 
When the bullets are flying, that's when I'm at my best

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1894 on: August 17, 2020, 09:29:25 AM »
Unfamiliar with that.

BTC hits a new year high and above 12k again :users:

Red dots looking good.

https://twitter.com/100trillionusd/status/1294934639132446721
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Offline Kat Kid

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Re: Cryptocurrency Master Thread
« Reply #1896 on: August 17, 2020, 11:31:26 AM »

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #1897 on: August 21, 2020, 12:40:27 AM »
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

https://blockstream.info/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

Offline DaBigTrain

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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

https://blockstream.info/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

Offline DaBigTrain

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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

https://blockstream.info/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f