Crytocurrency

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870Mike
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Re: Crytocurrency

Post by 870Mike » Sun Dec 17, 2017 10:33 pm

jjk308 wrote:
Sun Dec 17, 2017 9:11 am
Have fun on the downside of the roller coaster, folks. FYI corrections like Bitcoins are common as a symptom of price instability just before the bubble deflates.
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Re: Crytocurrency

Post by jjk308 » Mon Dec 18, 2017 8:51 am

zeebaron wrote:
Sun Dec 17, 2017 2:31 pm
I've been into Bitcoin off and on since 2010. Please keep in mind when "investing" that Bitcoin (not the forks Bitcoin Cash or Bitcoin Gold) is the only one being actively used and traded into other currencies worldwide. Any other cryptocurrency is just wild speculation at this point aside from possibly Monero, which is now being heavily used by the criminal underworld because of it's increased anonymity. Does Ethereum really count when its price is based on ICO's which are 99% scams or terrible business ideas? I don't think so.

These are the facts without the marketing sales pitch attached.
Why does this make Bitcoin any sort of investment? There's nothing behind it and its no more "investment" than a crap shoot. Don't YOU believe the marketing sales pitch by those wanting to develop buyers for their Bitcoins.
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Re: Crytocurrency

Post by tector » Mon Dec 18, 2017 10:46 am

Nothing wrong with a bubble if you get out way ahead. Some do. At the same time, there can't be any sympathy for the masses who don't.

So it goes.
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Re: Crytocurrency

Post by Waldo1 » Mon Dec 18, 2017 11:13 am

http://www.zerohedge.com/news/2017-12-1 ... stock-year


"Again, just save your pennies and wait for my IPO for Turdbutter LLC. Its a cloud-based, blockchain powered, synergistically crypto-oriented, crowd funded, real time, collaborative, holistic dynamo with unlimited wealth-depleting potential. With an app. Insist upon genuine Turdbutter investment products- accept no substitutes. "Turdbutter LLC. If it was up your ass, you'd know"."
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Re: Crytocurrency

Post by zeebaron » Mon Dec 18, 2017 12:12 pm

jjk308 wrote:
Mon Dec 18, 2017 8:51 am
zeebaron wrote:
Sun Dec 17, 2017 2:31 pm
I've been into Bitcoin off and on since 2010. Please keep in mind when "investing" that Bitcoin (not the forks Bitcoin Cash or Bitcoin Gold) is the only one being actively used and traded into other currencies worldwide. Any other cryptocurrency is just wild speculation at this point aside from possibly Monero, which is now being heavily used by the criminal underworld because of it's increased anonymity. Does Ethereum really count when its price is based on ICO's which are 99% scams or terrible business ideas? I don't think so.

These are the facts without the marketing sales pitch attached.
Why does this make Bitcoin any sort of investment? There's nothing behind it and its no more "investment" than a crap shoot. Don't YOU believe the marketing sales pitch by those wanting to develop buyers for their Bitcoins.
I don’t have any Bitcoin, but I do believe it’s a viable and innovative means of trading value.

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Re: Crytocurrency

Post by zeebaron » Mon Dec 18, 2017 1:47 pm

tector wrote:
Mon Dec 18, 2017 10:46 am
Nothing wrong with a bubble if you get out way ahead. Some do. At the same time, there can't be any sympathy for the masses who don't.

So it goes.
It's only a bubble because some people think it's a get rich quick scheme.

The people I know who are now multi-millionaires because of it were completely retarded in the traditional investment sense. They held onto it because they believed (and still do) in a new technology and were nerds with extra disposable income.

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Re: Crytocurrency

Post by tector » Mon Dec 18, 2017 2:03 pm

A lot of the naysaying is just jealously. I congratulate all those who scored. Those who get crushed in a crash, tough s';t.

So it goes.
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Re: Crytocurrency

Post by ParishM » Mon Dec 18, 2017 3:11 pm

as the old saying goes, "you haven't made or lost anything
until you sell"
I have enough money to last me the rest of my life, unless I buy something.

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Re: Crytocurrency

Post by 870Mike » Mon Dec 18, 2017 4:01 pm

tector wrote:
Mon Dec 18, 2017 2:03 pm
A lot of the naysaying is just jealously.
Exactly. I get all kinds of [smilie=042.gif] from my investment-savvy friends who didn't buy. My buy-in (@$700) was pure luck. As long as is it doesn't "crash" below $701.00, I'm still good. :ber

My prediction is it will become a status symbol thing for the jet-set (e.g. "So...how much BTC do YOU have in your portfolio, Buffy and Todd? We own 1000. Dahling...is the Rolls back from the detailer?"), driving prices further up.
Last edited by 870Mike on Wed Dec 20, 2017 1:23 am, edited 1 time in total.
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Re: Crytocurrency

Post by ParishM » Wed Dec 20, 2017 1:16 am

The Crypto Company: SEC Suspends Trading in CRCW Stock


https://www.msn.com/en-us/finance/marke ... smsnnews11

The reason for the suspension has to do with the major growth that the stock has seen recently.

This includes a 2,700% increase over the last month. This has raised fears that the stock is being manipulated, which is the reason for the suspension.


The suspension that The Crypto Company is facing for its stock is only set to last until Jan. 3 at midnight. The SEC has been taking more notice of companies with connections to bitcoin and other virtual currencies of late, reports CNBC.

The SEC’s recent attention on bitcoin and other cryptocurrencies includes some warnings about the dangers of the assets. It put out a warning back in August about investing in Initial Coin Offerings (ICO) that could potential be scams. It also created a list earlier this month for the risks that investors of bitcoin face.

While the SEC is working to catch up on bitcoin, some groups are becoming more accepting of the virtual currency. This includes the Chicago Mercantile Exchange (CME), which started trading bitcoin futures on Dec. 18. This is possible because the CME completed the U.S.

Commodity Futures Trading Commission’s self-certification process. Another firm is also now trading bitcoin futures.



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Re: Crytocurrency

Post by jjk308 » Wed Dec 20, 2017 8:05 am

ParishM wrote:
Wed Dec 20, 2017 1:16 am
The Crypto Company: SEC Suspends Trading in CRCW Stock


https://www.msn.com/en-us/finance/marke ... smsnnews11

The reason for the suspension has to do with the major growth that the stock has seen recently.

This includes a 2,700% increase over the last month. This has raised fears that the stock is being manipulated, which is the reason for the suspension.


The suspension that The Crypto Company is facing for its stock is only set to last until Jan. 3 at midnight. The SEC has been taking more notice of companies with connections to bitcoin and other virtual currencies of late, reports CNBC.

The SEC’s recent attention on bitcoin and other cryptocurrencies includes some warnings about the dangers of the assets. It put out a warning back in August about investing in Initial Coin Offerings (ICO) that could potential be scams. It also created a list earlier this month for the risks that investors of bitcoin face.

While the SEC is working to catch up on bitcoin, some groups are becoming more accepting of the virtual currency. This includes the Chicago Mercantile Exchange (CME), which started trading bitcoin futures on Dec. 18. This is possible because the CME completed the U.S.

Commodity Futures Trading Commission’s self-certification process. Another firm is also now trading bitcoin futures.
Is there a way to sell Bitcoins short? [smilie=011.gif]
I swear by Jupiter Optimus Maximus .... in the army of the consul Lucius Quinctius Cincinnatus and for 10 miles around it I will not steal anything worth more than a sestertius in any one day.

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Re: Crytocurrency

Post by 870Mike » Wed Dec 20, 2017 9:18 am

jjk308 wrote:
Wed Dec 20, 2017 8:05 am

Is there a way to sell Bitcoins short? [smilie=011.gif]
Yes.
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Re: Crytocurrency

Post by tector » Sat Dec 23, 2017 7:39 pm

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Re: Crytocurrency

Post by Gregh181 » Sat Dec 23, 2017 9:30 pm

First major goal obtained the other day, made $100,000. I’m out of debt now and the next goal is to buy a house out here in Clermont in cash
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Re: Crytocurrency

Post by Gregh181 » Thu Jan 11, 2018 1:02 pm

Gregh181 wrote:
Tue Sep 12, 2017 1:25 am
Well I invested in the trigger token. If it reaches $10 a coin I'll have made $50k
This coin actually did reach $9 a couple weeks ago. However I invested 25k into ethlend about a month ago when it was 2 cents. I’m already over a million in profit and looking at a very real 5-10 million in the next few months.
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Re: Crytocurrency

Post by cubanstang50 » Thu Jan 11, 2018 10:25 pm

Gregh181 wrote:
Thu Jan 11, 2018 1:02 pm
Gregh181 wrote:
Tue Sep 12, 2017 1:25 am
Well I invested in the trigger token. If it reaches $10 a coin I'll have made $50k
This coin actually did reach $9 a couple weeks ago. However I invested 25k into ethlend about a month ago when it was 2 cents. I’m already over a million in profit and looking at a very real 5-10 million in the next few months.
Damnnn, i hope it works out for you and you cash out and run like a bandit. Lol
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Re: Crytocurrency

Post by 870Mike » Thu Jan 11, 2018 10:49 pm

Gregh181 wrote:
Thu Jan 11, 2018 1:02 pm
Gregh181 wrote:
Tue Sep 12, 2017 1:25 am
Well I invested in the trigger token. If it reaches $10 a coin I'll have made $50k
This coin actually did reach $9 a couple weeks ago. However I invested 25k into ethlend about a month ago when it was 2 cents. I’m already over a million in profit and looking at a very real 5-10 million in the next few months.
:-k Ethlend is @ $0.27 now. If you purchased at $0.02, you'd be @ $337.5k...or is my math wrong? :-k (regardless, good for you! =D> )
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Re: Crytocurrency

Post by Taco » Fri Jan 12, 2018 6:19 am

I believe these type of earnings are taxed unfavorably. Have you discussed with your CPA? If not, I would highly recommend not tying up your assets before you get too far down the road. You may owe a significant portion (much higher than you may think) of your money to Uncle Sam.
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Re: Crytocurrency

Post by ParishM » Fri Jan 12, 2018 6:23 am

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Re: Crytocurrency

Post by jjk308 » Fri Jan 12, 2018 8:46 am

Bitcoin vs history's biggest bubbles: They never end well
by Daniel Shane @CNNMoneyInvest December 8, 2017: 11:46 AM ET
http://money.cnn.com/2017/12/08/investi ... index.html

Is Bitcoin just 'Tulip Mania', Take Two?
Is the bitcoin boom about to turn into one of history's biggest busts?

The digital currency's massive surge this year -- it's up more than 1,400% -- has all the hallmarks of a huge speculative bubble, according to people such as Warren Buffett.

And if it bursts, the results are likely to be spectacular.

"In terms of how it ends, bubble history suggests it will be with a bang, rather than a whimper," said Sharon Zoller, an economist at ANZ. "I can't think of any reason why this time would be different."

To better understand what may lie ahead, here's the lowdown on four famous financial bubbles in history:

Tulip mania

In the early 17th century, speculation helped drive the value of tulip bulbs in the Netherlands to previously unheard of prices. Newly imported from Turkey, tulips were a big novelty at the time.

Hard data from those days is scarce, so it's difficult to gauge exactly how much prices soared. But people were putting up their homes as collateral, according to the Rijksmuseum -- the Museum of the Netherlands -- in Amsterdam.

Like many bubbles, prices were driven by greed or the fear of missing out. Speculators were buying bulbs in the hope that they could sell them on at an even higher price. Again, it didn't last. A flurry of sales caused a domino effect, and prices collapsed.

Stephen Innes, head of Asian trading at currency broker Oanda, believes bitcoin bubble could go the same way.

"Prices will become so out of reach of the common man that ultimately demand fades," he said.

South Sea bubble

In the 18th century, shares in the South Sea Company, a British trading firm, soared on expectations it would soon reap bumper profits from trade with South America.

But the big money never materialized.

South America was controlled by Spain, which was at war with the British Empire at the time. That made a British trading monopoly in the region unlikely, according to the Encylopedia Britannica.

Nevertheless, British mom-and-pop investors piled into the South Sea Company's stock, which popped about 900% in the space of a year.

Soon afterward, the shares began to plunge as speculators became sellers. The South Sea bubble's collapse left a trail of bankruptcies in its wake.

Wall Street crash of 1929

In the five years prior to October 1929's huge crash, stocks listed on the Dow Jones Industrial Average skyrocketed 500%.

Investors had become very bullish on the U.S. economy during the "Roaring 20s," prompting them to keep bidding stock prices higher. Eventually cracks in the economy started to appear.

The crash didn't happen on just one day. The pain was spread out over several big plunges in the Dow, according to the Federal Reserve.

Making things much worse, many of the investors who had jumped on the bandwagon did so with borrowed money.

The crash led to the tremendous suffering of the Great Depression.

Wall Street didn't find its bottom until more than two years later, when the Dow languished 90% below its 1929 peak.

The dotcom boom

Investors were gripped by an internet frenzy in the late 1990s. They piled into web-focused companies, pushing the Nasdaq index up about 200% in the space of just over a year.

Those gains were fueled by a string of multibillion dollar stock floats during the era, many of which were unprofitable internet and software companies.

The party didn't last. The bubble burst in early 2000, partly because higher interest rates made borrowing pricier. The Nasdaq plunged around 80% over the next couple of years.

But Shane Oliver, an economist at Australia's AMP Capital, said bitcoin's meteoric rise isn't quite like any previous bubbles he's seen before.

"Bitcoin leaves them for dead." he said.
I swear by Jupiter Optimus Maximus .... in the army of the consul Lucius Quinctius Cincinnatus and for 10 miles around it I will not steal anything worth more than a sestertius in any one day.

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