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Crypto Slide

 
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Old 11-27-2018, 08:53 AM   #1
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Crypto Slide


I never could wrap my head around crypto "mining" and the rest of it, anyway. A good tale while it lasted.

https://thehill.com/opinion/finance/...yptocurrencies
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Old 11-27-2018, 08:57 AM   #2
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Re: Crypto Slide


I never understood it either. One of my subs was buying into it heavily....and I said a fool and his money....

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Old 11-27-2018, 09:10 AM   #3
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Re: Crypto Slide


At one of our free-market think tanks in DC, many of the young employees were trading it instead of doing their work. It became a real problem.
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Old 11-27-2018, 11:33 AM   #4
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Re: Crypto Slide


If it ain't gold or silver it ain't real money. Seems the fools are learning this now.
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Old 11-27-2018, 11:51 AM   #5
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Re: Crypto Slide


problem with crypto is until the value has some sort of level of stability no real business will accept it as an accepted form of payment

At least with the American dollar you know it’s general value. With crypto currency for example 1 bitcoin might be worth $200 at 9 AM and be worth $110 by 3 PM. That’s a real problem with accepting crypto


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Old 11-27-2018, 01:07 PM   #6
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Re: Crypto Slide


I don't invest in crypto, since I haven't researched it's characteristucs as an investment.

There is a finite probability it will dominate transactions world wide. It has a basic characteristic of many currencies around the globe, more can be made at will.

I bet when sea shells as currency first started, people looked at the early adopters as foolish for using something you could just pick up off the beach...
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Old 11-27-2018, 05:40 PM   #7
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Re: Crypto Slide


Quote:
Originally Posted by hdavis View Post
I don't invest in crypto, since I haven't researched it's characteristucs as an investment.

There is a finite probability it will dominate transactions world wide. It has a basic characteristic of many currencies around the globe, more can be made at will.

I bet when sea shells as currency first started, people looked at the early adopters as foolish for using something you could just pick up off the beach...
How does finite probability translate into odds? Do you mean very limited chance?
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Old 11-27-2018, 05:47 PM   #8
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Re: Crypto Slide


Cryptography is a fantastic development.

However, as a medium of value or currency they are as fickle as tulips. Bitcoin is akin to legacy software now and is being hard forked. Tomorrow's tulip will be more exciting than yesterday's.

There will be a day, though, that governments will adopt their own crypto currency or some form of it...and control it and its use. It will be the ultimate ability to control the people.


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Old 11-27-2018, 05:53 PM   #9
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Re: Crypto Slide


They can already identify us in both real time and digitally. Freedom is doomed.
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Old 11-27-2018, 06:32 PM   #10
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Re: Crypto Slide


Crypto currency is really an amazing development and is in its infancy. One of the things that attracted so many people to it is the philosophy of decentralization but as Meta points out governments around the world will work to dominate it.

People have made tremendous amounts of money investing in it and have lost tremendous amounts also. Right now it's in a big down cycle, but when it bottoms out it will probably boom again and some of the 'coins' have the potential to go up tens or hundreds of times what they're worth today. If one rides the wave successfully one can convert that to fiat currency and do really well but it is definitely a risky ride. At the end of last year there was a tremendous surge and almost all of the crypto currencies went through the roof, some going up hundreds of times what they had been just a little bit earlier. Many people made millions of dollars.

What's interesting is as volatile as it is bitcoin is much more stable than a lot of the currencies in parts of the world. In parts of Africa for example, the inflation rate is so extreme that even with the drop in value recently one is much better off having assets in bitcoin.
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Old 11-27-2018, 06:35 PM   #11
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Re: Crypto Slide


Quote:
Originally Posted by Rio View Post
Crypto currency is really an amazing development and is in its infancy. One of the things that attracted so many people to it is the philosophy of decentralization but as Meta points out governments around the world will work to dominate it.

People have made tremendous amounts of money investing in it and have lost tremendous amounts also. Right now it's in a big down cycle, but when it bottoms out it will probably boom again and some of the 'coins' have the potential to go up tens or hundreds of times what they're worth today. If one rides the wave successfully one can convert that to fiat currency and do really well but it is definitely a risky ride. At the end of last year there was a tremendous surge and almost all of the crypto currencies went through the roof, some going up hundreds of times what they had been just a little bit earlier. Many people made millions of dollars.

What's interesting is as volatile as it is bitcoin is much more stable than a lot of the currencies in parts of the world. In parts of Africa for example, the inflation rate is so extreme that even with the drop in value recently one is much better off having assets in bitcoin.
Stable? They'd have been better off in a real foreign currency, too.

(Are you still holding?)
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Old 11-27-2018, 07:07 PM   #12
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Re: Crypto Slide


Zimcoin was hilarious. Not the Zimbabwean exchange, the actual crypto currency attached to the Zimbabwe dollar as it exploded into nothings.

Governments are banning cryptos in Asia. As soon as the CME created Bitcoin futures, that game was over. Easy transactions for hedge funds to hedge the futures market and short actual bitcoins. Bitcoins are like the USD to the crypto market, many exotic cryptos are exchanged for or to Bitcoin. However, hedge funds could also hedge the futures contract while holding actual bitcoin and then speculating on the exotics.

Transaction costs are extreme on cryptos though, so short term transactions on non leveraged cryptos is difficult to profit from. Bitcoin futures, however, can be controlled via a leveraged account.

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Old 11-27-2018, 07:11 PM   #13
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Re: Crypto Slide


Quote:
Originally Posted by META View Post
Cryptography is a fantastic development.

However, as a medium of value or currency they are as fickle as tulips. Bitcoin is akin to legacy software now and is being hard forked. Tomorrow's tulip will be more exciting than yesterday's.

There will be a day, though, that governments will adopt their own crypto currency or some form of it...and control it and its use. It will be the ultimate ability to control the people.


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This the most depressing thread I've ever seen.

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Old 11-28-2018, 11:46 AM   #14
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Re: Crypto Slide


Guess what, they have known where every nickel is for the last twenty years; since 9/11 and the patriot act. If you want to own assets like cars, real estate, etc then it must go through the computerized bank networks. Even if you pay cash for a car in excess of 10k it will be reported to the FEDS.

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Old 12-06-2018, 07:13 AM   #15
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Re: Crypto Slide


http://r.smartbrief.com/resp/kBwBCyr...rmat=multipart

Gonna be painful...
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Old 12-06-2018, 10:11 AM   #16
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Re: Crypto Slide


Quote:
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How does finite probability translate into odds? Do you mean very limited chance?
If you check with experts, some say it's very probable, like 90%. I'm not making odds on it, nominally I put it down below 5%.
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Old 12-06-2018, 11:41 AM   #17
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Re: Crypto Slide


A race to zero from the looks of it. Anyone still holding will regret it. Unless it was backed by something real it was bound to happen.
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Old 12-06-2018, 12:32 PM   #18
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Re: Crypto Slide


I hold a little crypto, not much. I do follow the space though. It's an interesting thing to watch. So many wild swings.
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Old 12-06-2018, 12:36 PM   #19
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I hold a little crypto, not much. I do follow the space though. It's an interesting thing to watch. So many wild swings.
Are you feeling sick or hopeful?
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Old 12-06-2018, 12:44 PM   #20
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Are you feeling sick or hopeful?
I'm hopeful. Ideally I'd like the market go down further and make some buys. It'll also hopefully kill off a lot of alts that are underperforming. I see crypto sticking around but in what form at what price is anyone's guess.

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