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#2666112 - 07/25/17 09:44 PM
Cryptocurrencies
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Miki Dora status
 
Registered: 02/23/10
Posts: 5269
Loc: PNW
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Bitcoin, Lightcoin, Ethereum and the rest. Any of you guys get in on it early days? Been pretty interesting this past year and with the Aug. 1 fork coming I think it's about to get even more so.
I don't really own much of any one type but I think it's kinda fun to follow it. Typical story, tried to buy in when BTC was sub $200, didn't follow through, got frustrated trying to get approved through one of the exchanges, watched it climb to crazy heights over the years, always feeling like I was too late. Finally put down a little money in BTC and ETH earlier this year. Been up, been down.
Can't be any worse of an investment than all these custom surfboards, right?
Anyways, some of you guys must know about this stuff? Any closet millionaires?
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#2666134 - 07/25/17 11:25 PM
Re: Cryptocurrencies
[Re: Aruka]
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Miki Dora status

Registered: 12/16/04
Posts: 3888
Loc: Swarm Diego
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I think some of the San Francisco posters got in it early. I think they even posted about it a few years ago, or that could have been you. I can't remember. I'm pretty sure I first learned about it here though or at the same time some articles about it in the journal came out.
I had two friends who lost their total investment in Mt. Gox. They of course are pissed but still pump ETH on Facebook with all our friends. I havent touched it, but like following it. I think its a big ponzi, but people are making bank, the question is who. The latest ICO offering made some people of people I know wealthy as all hell, for a bullshit dream they sold during this euphoria. They have no products, just some software they made up less than a year ago and pitched it to the right people.
There's what..over two hundred different "coins" out there now.
What I find interesting is following from a technical trader perspective, well of course there's no fundamentals so you have to. Elliot Wave Theory could be the ultimate tracker here of the price action. Elliot wave theory was concieved to follow euphorias, it never really works with stock beacause of a ton of other factors. Bitcoin could be the perfect thing for it. I think bitcoin os possibly in a 4th wave down which will follow the last 5th wave up before it finally crashes down. The 5th wave according to Elliot wave is the biggest move and sorta like the blow off top.
Or it could go down in flames? Or the moon. I don' t think I'll ever buy it.
Best of luck trading.
I did like to give my buddies grief when they claimed it to be the next "currency" and the dollar was done.....Really, you want your money to go up and down 20% depending on what the Asian traders feel like that day...
_________________________
"God, please protect me from your followers"
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#2666305 - 07/26/17 01:08 PM
Re: Cryptocurrencies
[Re: Aruka]
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Miki Dora status
Registered: 04/23/01
Posts: 4416
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I'm geeking out on solidity right now to help someone I know do an ICO.
_________________________
less is more
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#2666309 - 07/26/17 01:13 PM
Re: Cryptocurrencies
[Re: crustBro]
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Duke status
 
Registered: 01/23/02
Posts: 17406
Loc: San Francisco, CA
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Still waiting for mine.... Other links about bitcoins are here, here, and here. The best way to think of Bitcoins, et all, is as a means of exchange, which is all fiat money really is anyway, but with no middleman taking a portion (just like cash). As a more pure expression as a means of exchange, it is largely subject to the value people place on it, and value increases as demands outstrips supply...and in this case, supply is constrained. Investing in currencies is a thing, but traditionally, the cost to exchange it made it prohibitive to yee average gambler. With Bitcoin that barrier is somewhat lessened, and it used to be without barrier in the early days if you had a decent rig. I wonder how many old hard-drives have bitcoin wallets on them that have been 'lost' because a mouse doesn't work, or the OS got funky.
Edited by Mr Doof (07/26/17 01:23 PM)
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#2666313 - 07/26/17 01:23 PM
Re: Cryptocurrencies
[Re: Aruka]
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Phil Edwards status
 
Registered: 01/06/09
Posts: 6877
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If you bought 100 dollars in bitcoin in 2010 it would be worth many millions of dollars now. That is, if you'd had the balls to sit on it for 7 years.
Could you even "buy" a small amount back then? I am not sure that was possible, people were mining for them with serious computers or using them to trade in illicit fringe transactions. Or was that a few years prior? Anyway The surge in valuations has happened along with the vehicles for acquiring and/or trading them right? And that there is more infrastructure to allow regular people to consider and use them as a currency or an investment vehicle. Is this right too? I am spitballin this. Q. What would the signs be that governments are going to crack down on these? A. When they become a threat to the established currencies. Q. How will we know when they have become a threat to the established currencies? A. _____________?
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