Crytocurrency

If it doesn't fit in any of the other forums, post it here!
User avatar
Gregh181
Life Member
Life Member
Posts: 5556
Joined: Fri Apr 24, 2009 7:05 am
Location: Orlando

Crytocurrency

Post by Gregh181 » Sat Jun 17, 2017 6:47 pm

I've become fascinated in investing into cryto currencies. Anyone else on here dabble in them?
Make Peace or Die - 1st Battalion/5th Marines - Machine Gunner

NRA Benefactor Member

Those who surrender freedom for security will not have, nor do they deserve, either one - Benjamin Franklin

User avatar
Orlando Paulitician
Life Member
Life Member
Posts: 4272
Joined: Sat Dec 08, 2007 6:17 pm
Location: Seminole County, South Jersey

Re: Crytocurrency

Post by Orlando Paulitician » Sat Jun 17, 2017 8:05 pm

No, but I knew about BC back when you could buy one for less than a dollar.

Wish I had loaded up on them.
Nathan Lewis' testimony before congress wrote: According to a study of 775 floating currencies...the average life expectancy of a floating fiat currency was found to be 27 years.
Ron Paul's Farewell Address wrote:Real patriotism is the willingness to challenge the government when it's wrong,

User avatar
Gregh181
Life Member
Life Member
Posts: 5556
Joined: Fri Apr 24, 2009 7:05 am
Location: Orlando

Re: Crytocurrency

Post by Gregh181 » Sat Jun 17, 2017 8:16 pm

There's still time to load up
Make Peace or Die - 1st Battalion/5th Marines - Machine Gunner

NRA Benefactor Member

Those who surrender freedom for security will not have, nor do they deserve, either one - Benjamin Franklin

User avatar
870Mike
Life Member
Life Member
Posts: 4805
Joined: Wed Apr 24, 2013 6:32 pm
Location: Broward (Da 'Hood)

Re: Crytocurrency

Post by 870Mike » Sat Jun 17, 2017 10:14 pm

BTC @ $2457.50 today.
"Send lawyers & money...have enough guns." - 870Mike

User avatar
Gregh181
Life Member
Life Member
Posts: 5556
Joined: Fri Apr 24, 2009 7:05 am
Location: Orlando

Re: Crytocurrency

Post by Gregh181 » Sat Jun 17, 2017 10:28 pm

870Mike wrote:BTC @ $2457.50 today.
No sir $2660 now. More reason to buy in
Make Peace or Die - 1st Battalion/5th Marines - Machine Gunner

NRA Benefactor Member

Those who surrender freedom for security will not have, nor do they deserve, either one - Benjamin Franklin

User avatar
870Mike
Life Member
Life Member
Posts: 4805
Joined: Wed Apr 24, 2013 6:32 pm
Location: Broward (Da 'Hood)

Re: Crytocurrency

Post by 870Mike » Sat Jun 17, 2017 10:47 pm

$2643.84 live now on Bitcointicker.co
"Send lawyers & money...have enough guns." - 870Mike

User avatar
Gregh181
Life Member
Life Member
Posts: 5556
Joined: Fri Apr 24, 2009 7:05 am
Location: Orlando

Re: Crytocurrency

Post by Gregh181 » Sat Jun 17, 2017 11:09 pm

Litecoin made a jump to almost $50 today and is holding at $45
Make Peace or Die - 1st Battalion/5th Marines - Machine Gunner

NRA Benefactor Member

Those who surrender freedom for security will not have, nor do they deserve, either one - Benjamin Franklin

User avatar
870Mike
Life Member
Life Member
Posts: 4805
Joined: Wed Apr 24, 2013 6:32 pm
Location: Broward (Da 'Hood)

Re: Crytocurrency

Post by 870Mike » Sat Jun 17, 2017 11:15 pm

I'm only in Bitcoin and Etherium. Litecoin is supposed to be nipping at their heels, but I don't have time to research it.
"Send lawyers & money...have enough guns." - 870Mike

User avatar
Gregh181
Life Member
Life Member
Posts: 5556
Joined: Fri Apr 24, 2009 7:05 am
Location: Orlando

Re: Crytocurrency

Post by Gregh181 » Sun Jun 18, 2017 7:45 am

Do you use a digital wallet? I'm confused as to how store my eth besides on coinbase

I'm using litecoin as a pump and dump myself
Make Peace or Die - 1st Battalion/5th Marines - Machine Gunner

NRA Benefactor Member

Those who surrender freedom for security will not have, nor do they deserve, either one - Benjamin Franklin

User avatar
zeebaron
Life Member
Life Member
Posts: 1647
Joined: Mon Jan 19, 2009 1:29 pm

Re: Crytocurrency

Post by zeebaron » Sun Jun 18, 2017 10:55 am

When everyone & their mother is trying to jump in on something because they see ever increasing dollar signs in their future for putting their savings into it, it's probably the time to avoid it until a drop in the market.

User avatar
jjk308
Life Member
Life Member
Posts: 5353
Joined: Tue Feb 24, 2009 6:08 pm
Location: Oldsmar, Florida USA

Re: Crytocurrency

Post by jjk308 » Sun Jun 18, 2017 11:06 am

our national fiat currencies, Dollars, Pounds, Euros are backed by Legal Tender laws and governments with lots of police, military, guns and taxing powers. The "cryptocurrencies" have nothing except the luck of finding a bigger fool than you to sell them to.

At least with the Dutch Tulip craze and the South Seas stock bubble you could get some pretty flowers and nice looking certificates to paper your walls with. With cryptocurrencies you get NOTHING. Buying them is a gamble on, basically, NOTHING.
Last edited by jjk308 on Sun Jun 18, 2017 11:09 am, edited 1 time in total.
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.

User avatar
molivo
Life Member
Life Member
Posts: 10794
Joined: Mon Feb 20, 2006 1:17 am
Location: St. Lucie
Contact:

Re: Crytocurrency

Post by molivo » Sun Jun 18, 2017 11:08 am

jjk308 wrote:our national fiat currencies, Dollars, Pounds, Euros are backed by Legal Tender laws and governments with lots of police, military, guns and taxing powers.
The "cryptocurrencies" have nothing except the luck of finding a bigger fool than you to sell them to.

That's kind of my worry. What do you actually own other then a percentage of someone else's idea?
Altar Arms - 01 FFL , NFA/SOT Dealer(772)497-6550
20$ Transfers for FSN members for Title 1 Firearms, 75$ Title 2!
Located in Fort Pierce, FL

I BUY PREBAN AR15'S! PM ME!

See us on Gunbroker.com! AltarArms
http://www.gunbroker.com/All/BI.aspx?In ... rs=2086140

User avatar
Orlando Paulitician
Life Member
Life Member
Posts: 4272
Joined: Sat Dec 08, 2007 6:17 pm
Location: Seminole County, South Jersey

Re: Crytocurrency

Post by Orlando Paulitician » Sun Jun 18, 2017 11:15 am

zeebaron wrote:When everyone & their mother is trying to jump in on something because they see ever increasing dollar signs in their future for putting their savings into it, it's probably the time to avoid it until a drop in the market.
I'm not. I'm risk averse an don't myself smart enough to be an intelligent, dispassionate speculator.
Nathan Lewis' testimony before congress wrote: According to a study of 775 floating currencies...the average life expectancy of a floating fiat currency was found to be 27 years.
Ron Paul's Farewell Address wrote:Real patriotism is the willingness to challenge the government when it's wrong,

User avatar
jjk308
Life Member
Life Member
Posts: 5353
Joined: Tue Feb 24, 2009 6:08 pm
Location: Oldsmar, Florida USA

Re: Crytocurrency

Post by jjk308 » Sun Jun 18, 2017 11:16 am

molivo wrote:
jjk308 wrote:our national fiat currencies, Dollars, Pounds, Euros are backed by Legal Tender laws and governments with lots of police, military, guns and taxing powers.
The "cryptocurrencies" have nothing except the luck of finding a bigger fool than you to sell them to.

That's kind of my worry. What do you actually own other then a percentage of someone else's idea?
That's it. The silliness of "mining" bitcoins is just a ploy to keep the supply down and the cost up, and rising, but there really is nothing there!

https://digitaleconomyforum.org/chapter ... AoPQ8P8HAQ
There are 2 types of technologies used for digital currencies.

Virtual Currency: A type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community.
Cryptocurrency: A type of digital token that relies on cryptography for chaining together digital signatures of token transfers, peer-to-peer networking and decentralization.

There are currently over 740 types of cryptocurrencies, but only 24-26 of them had market capitalization has over $10 million. (this means about 715 failures that'll be hard to get rid of at any price)

The Risks of Decentralized Currencies:

No one overseeing the valuation, which makes it extremely volatile to fluctuating.
Money laundering. Especially overseas to other countries without interacting with government regulation.
Creators of digital currencies not subject to comply to the financial institution. Which in itself isn't bad, just means that they can create their own rules.
Lack of regulation. Like the previous point, no one is overseeing this process.
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.

User avatar
Flame Red
Life Member
Life Member
Posts: 2547
Joined: Sat Jan 14, 2006 7:50 pm
Location: Orlando

Re: Crytocurrency

Post by Flame Red » Sun Jun 18, 2017 12:05 pm

All I know is that I don't know enough to try any of this [smilie=042.gif] Remember, BC was designed for the dark web to sell drugs and all that illegal [smilie=042.gif] without a paper trail.

That being said, I have no faith in the Federal Reserve, who since their founding in 1913 by the Libtard Wilson, they have managed to debase the currency by 95.7%! And no one cares. Their purpose is to perpetuate the federal debt, and to ease the debt repayment by a future worthless currency. Now no politician except the two Paul's cares even about talking about the debt anymore. It is projected to approach 100% of GNP in the near future. Better debase some more - quick!

If I worry about this I would not try chasing some technology, as there is always going to be someone in the future that is smarter and invent some new crypto [smilie=042.gif] What little I hedge is in Gold or Silver or Ammo. At least until Musk or Bazeos is able to go mine some asteroid.

[smilie=popcorn.gif]
Last edited by Flame Red on Mon Jun 19, 2017 7:35 am, edited 1 time in total.
Dirty Harry doesn't play any favorites! Harry hates everybody!

User avatar
870Mike
Life Member
Life Member
Posts: 4805
Joined: Wed Apr 24, 2013 6:32 pm
Location: Broward (Da 'Hood)

Re: Crytocurrency

Post by 870Mike » Sun Jun 18, 2017 1:36 pm

Gregh181 wrote:Do you use a digital wallet? I'm confused as to how store my eth besides on coinbase.
No. I just let it sit in my CB account. Electrum or Mycelium are the most popular.
"Send lawyers & money...have enough guns." - 870Mike

User avatar
zeebaron
Life Member
Life Member
Posts: 1647
Joined: Mon Jan 19, 2009 1:29 pm

Re: Crytocurrency

Post by zeebaron » Sun Jun 18, 2017 2:06 pm

870Mike wrote:
Gregh181 wrote:Do you use a digital wallet? I'm confused as to how store my eth besides on coinbase.
No. I just let it sit in my CB account. Electrum or Mycelium are the most popular.
Yeah, you both are playing with fire by not keeping it in your own wallets out of an exchange. It's one of the dumbest things you can do, given the history of such enterprises going under in the Bitcoin world. I personally know people who have lost (what is now) hundreds of thousands of dollars because they were complacent in this manner.

User avatar
870Mike
Life Member
Life Member
Posts: 4805
Joined: Wed Apr 24, 2013 6:32 pm
Location: Broward (Da 'Hood)

Re: Crytocurrency

Post by 870Mike » Sun Jun 18, 2017 3:57 pm

Image
"Send lawyers & money...have enough guns." - 870Mike

User avatar
Gregh181
Life Member
Life Member
Posts: 5556
Joined: Fri Apr 24, 2009 7:05 am
Location: Orlando

Re: Crytocurrency

Post by Gregh181 » Sun Jun 18, 2017 7:09 pm

I've made $500 and started about a week ago. This is no fad
Make Peace or Die - 1st Battalion/5th Marines - Machine Gunner

NRA Benefactor Member

Those who surrender freedom for security will not have, nor do they deserve, either one - Benjamin Franklin

Cloaked Dagger
Executive Member
Executive Member
Posts: 773
Joined: Sun Jan 16, 2005 11:57 pm
Location: Orlando, FL

Re: Crytocurrency

Post by Cloaked Dagger » Mon Jun 19, 2017 7:25 am

Flame Red wrote:All I know is that I don't know enough to try any of this [smilie=042.gif] Remember, BC was designed on the dark web to sell drugs and all that illegal [smilie=042.gif] without a paper trail.
That's what made it popular and really take off. It wasn't "designed on" that though.
Libertas aut mortis!

Post Reply