Do You BitCoin?

[BuffaloBill]

5 minutes ago, Foxx said:

in the US,  you simply have to prove that you made $200k for the past two years and that you expect that threshold to continue. if you are married, the threshold is $300k.

 

 

I am not an expert but I also believe to be accredited you have to have semi-liquid assists of $1MM+. In addition to a relatively high income level.

[Foxx]

13 minutes ago, BuffaloBill said:

 

 

I am not an expert but I also believe to be accredited you have to have semi-liquid assists of $1MM+. In addition to a relatively high income level.

Bill, i believe it is an either or scenario. either the one i posted or the one you mention.  also, if it is the one you mention, your primary residence can not factor into that net worth calculation. if you have both, then kudos to you.

 

Edited March 21, 2018 by Foxx

[plenzmd1]

21 minutes ago, Foxx said:

in the US,  you simply have to prove that you made $200k for the past two years and that you expect that threshold to continue. if you are married, the threshold is $300k.

 

15 minutes ago, BuffaloBill said:

 

 

I am not an expert but I also believe to be accredited you have to have semi-liquid assists of $1MM+. In addition to a relatively high income level.

so I just need to send coinbase a brokerage statement and w-2?

 

Still kinda pissed bout the 2%...i dunno, that seems high to me for a simple asset allocation. Need to do some more research.

 

Also be interesting to know what kind of interest they are getting in this, how they are going to buy the underlying assets, the timing of the buys etc. If someone knows how that works, I am all ears!!!!!

Edited March 21, 2018 by plenzmd1

[Foxx]

8 minutes ago, plenzmd1 said:

 

so I just need to send coinbase a brokerage statement and w-2?

 

Still kinda pissed bout the 2%...i dunno, that seems high to me for a simple asset allocation. Need to do some more research.

 

Also be interesting to know what kind of interest they are getting in this, how they are going to buy the underlying assets, the timing of the buys etc. If someone knows how that works, I am all ears!!!!!

i'm sure each company has different means of verification. sign up and see what they are asking for for verification purposes. if you are comfortable with that, then by all means verify your self.

[plenzmd1]

4 minutes ago, Foxx said:

i'm sure each company has different means of verification. sign up and see what they are asking for for verification purposes. if you are comfortable with that, then by all means verify your self.

4

That is the question no..that why I was somewhat facetiously saying  "ALL I HAVE to DO" is send them highly confidential information ..yikes!!!!

[Foxx]

7 minutes ago, plenzmd1 said:

That is the question no..that why I was somewhat facetiously saying  "ALL I HAVE to DO" is send them highly confidential information ..yikes!!!!

if they are registered (and it would appear they are), you should have no worries. as long as they don't ask what you had for dinner last night, that is. coinbase has a long history (in the crypto world that is (where 1 year is an eon)) and they have some pretty heavy weights in the background. 

 

i do find it interesting that they are offering this now. the four assets they offer are not considered securities. their fund will be, but the virtual currencies they offer aren't. just somewhat interesting to me as i follow the securities issue pretty closely being an investor in multiple cryptos.  

Edited March 21, 2018 by Foxx

[row_33]

10 minutes ago, Foxx said:

as long as they are registered, you should have no worries. as long as they don't ask what you had for dinner last night, that is.

 

i do find it interesting that they are offering this now. the four assets they offer are not considered securities. their fund will be, but the virtual currencies they offer aren't. just somewhat interesting to me as i follow the securities issue pretty closely being an investor in multiple cryptos.  

 

if it totally craters i just can just picture the route of flow based on lesser situations

 

it will trace through Israel and China at least a dozen times

 

we are now at the stage where it's impossible to trace the steps, experts far more savvy and teched-up than my firm have simply had to give up and say the tracing was simply impossible to map out, and I accept that answer...

 

 

 

Edited March 21, 2018 by row_33

[Foxx]

1 minute ago, row_33 said:

 

if it totally craters i just can just picture the route of flow based on lesser situations

 

it will trace through Israel and China at least a dozen times

 

we are now at the stage where it's impossible to trace the steps, experts far more savvy and teched-up than my firm have simply had to give up and say the tracing was simply impossible to map out, and I accept that answer...

 

 

 

row,

 

too many signs pointing to it being too big to fail at this point. could it, sure but it is just highly unlikely. one needs to look at the overall picture and see what is going on. the government is selling confiscated BTC. investment banks are starting/buying/establishing crypto ventures left and right, they see what is happening and they usually are not too late to a game. you have more and more merchants accepting cryptos everyday with more ways for said merchants to be able to accept cryptos as payments with equal velocity. the community behind cryptos is massive and expanding. the blockchain, the real brillance in all of this is going to change your world for the better. major companies are exploring ways to implemet it as it just works better than centralized trust systems (we won't get into what centralized trust systems breed). if these major coporations are looking into how it can help their businesses, you can bet your ass they are looking at the money aspect as well. how much would they stand to profit by going direct to the consumer.  i even see where muncipalities are considering blockchain for everything and anything.  the implications are simply astounding here.

 

do you need to wait for Wal-Mart and Amazon to accept cryptos to be convinced? when that point comes, it is essentially game over. Joe and Betty Six-pack will begin piling in and it will be mainstream.

 

believe me, myself and many within the cryptoverse are having their metal forged by fire atm. since the market highs of late January, i have seen my portfolio plummet a good 70%. i have a strong belief that this is merely a consolidation phase before the coming moonshot later this year. i and many i know are somewhat of a different animal though as i/we got in years ago so i really do not have that much skin in the game. i have a good amount in but.. as i say i was fortunate to have learned of it years ago when i got in for $5 a BTC. having given away most of what i acquired back then, to help raise awareness for a community i run, i have no regrets. Universe rewards. to that end I can't give away $5 BTC any longer so I try to raise awareness anyway i can, this thread being one of them. another is a tag line i have become fond of using... when cashing out at the store, my parting words are, "buy some Bitcoin today". of which, serves a few objectives. i have had a good number of conversations start by simply using that tagline.

 

again, you do or don't do whatever your intuition guides you to do. i just urge one to remove any biases they may have (as best they can) and to look at it objectively and then draw your conclusions. i honestly believe that if you look at all sides, you can't help but come to a conclusion that cryptos are the wave of the future.

 

YMMV

[Punching Bag]

6 hours ago, Mr Info said:

Dorsey expects bitcoin to be world's currency in 10 years.

 

https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years.html

 

Wonder if there are some place you can bet against that? Of course there is no place I'd trust to have my bet money in 10 years and still be around.

[LikeIGiveADarn]

1 hour ago, Limeaid said:

 

Wonder if there are some place you can bet against that? Of course there is no place I'd trust to have my bet money in 10 years and still be around.

 

 I'll trust Bitcoin the second all those Beanie Babies my aunt purchased finally fund her retirement...

[PolishDave]

14 hours ago, Foxx said:

believe me, myself and many within the cryptoverse are having their metal forged by fire atm. since the market highs of late January, i have seen my portfolio plummet a good 70%. i have a strong belief that this is merely a consolidation phase before the coming moonshot later this year. i and many i know are somewhat of a different animal though as i/we got in years ago so i really do not have that much skin in the game. i have a good amount in but.. as i say i was fortunate to have learned of it years ago when i got in for $5 a BTC. having given away most of what i acquired back then, to help raise awareness for a community i run, i have no regrets. Universe rewards. to that end I can't give away $5 BTC any longer so I try to raise awareness anyway i can, this thread being one of them. another is a tag line i have become fond of using... when cashing out at the store, my parting words are, "buy some Bitcoin today". of which, serves a few objectives. i have had a good number of conversations start by simply using that tagline.

 

 

I am interested in your thoughts about why you think a moonshot in Bitcoin is coming later this year?

 

I think the only moonshot opportunity for Bitcoin is runaway inflation in a major country.    And I think if that happens, it won't be in 2018.    What catalyst are you waiting for that you think is going to cause it to moonshot?

 

Personally, I think the likelihood is higher that the US government crushes the price of Bitcoin sometime in the next year through new legislation deterring the use of it as an investment and/or store of value.    I suspect that might represent the new "low" in price before any moonshot occurs.   And if that happens, then perhaps the moonshot in Bitcoin never occurs and the moonshot ends up occurring in the more untraceable cryptos like Monero - if and when inflation gets way out of control.

[Foxx]

1 hour ago, PolishDave said:

 

I am interested in your thoughts about why you think a moonshot in Bitcoin is coming later this year?

 

I think the only moonshot opportunity for Bitcoin is runaway inflation in a major country.    And I think if that happens, it won't be in 2018.    What catalyst are you waiting for that you think is going to cause it to moonshot?

 

Personally, I think the likelihood is higher that the US government crushes the price of Bitcoin sometime in the next year through new legislation deterring the use of it as an investment and/or store of value.    I suspect that might represent the new "low" in price before any moonshot occurs.   And if that happens, then perhaps the moonshot in Bitcoin never occurs and the moonshot ends up occurring in the more untraceable cryptos like Monero - if and when inflation gets way out of control.

well, it appears of late that many tokens/coins in the cryptoverse parallel BTC and it's movements/valuation. i don't know that any of them shake free of the current morass until there is a decisive movement one way or the other for BTC.

 

there are several thoughts as to why BTC will moon. the first and foremost is the adoption rate, it has been exponential since it's inception. it simply represents an evolution of money. of which i might add, was not possible until the blochchain arrived. history is rife with the corruption of centralized trust organizations, evil only lurks in shadows where it can hide. the blockchain offers an ability to shine light into those darkened hallways and give the people a trustless control of their options.

 

i agree that a dollar crisis would be an extemporaneous event that would percipitate a mooning for BTC. certainly the global reserve suffering hyperinflation would be an impetus for the exodus into something else. i don't know that that would be the only dollar crisis that could spark that fire though. i think it is on the 26th of March that China is set to launch their yuan dominated oil futures contract. this will set out to directly challenge the petrodollar, which is no small thing. being China is by far the largest importor of oil, they will be able to put pressure on oil exporting countries to accept the petroyuan. this could be a precursor to hyperinflation of the dollar or it may be nothing, time will tell. certainly, the dollar has been under attack since the global crisis of 2008.

 

let's also not forget that the cryptoverse is a global village, it is significantly larger than the borders of the US. one of the things that sparked the meteoric rise of all things crypto in '17 was the buying spree of the Chinese populace. they have since cracked down on cryptos as they want regulation put in place to protect their populace but it is anticipated,  by their own words, that they are going to come out with positive regulation at some point. if and when that happens that alone will be enough to light the fire under the markets again. what about Japan, they have recognized BTC and several cryptocurrencies as legal tender. Japan has always been at the forefront of movements. would another country recognizing BTC as a legal means of conveyance be another brick in the wall? is Venezuela at the forefront as well?

 

what about war, wouldn't that create the circumstances under which a mass movement happens? maybe a major scandal that exposes corruption at the highest levels of government would do it. many many scenarios i can forsee which would be the beginning. of course my views and rantings are considered by most to be those of a madman or conspiracy theorist so you know, take them for what they are worth, again, time will tell. most of all, it is incumbant upon oneself to do their own due dilligence.

Edited March 22, 2018 by Foxx

[Foxx]

is George Soros getting ready to jump into the crypto game?

[plenzmd1]

you know, I have not yet bought Bitcoin, and I really was waiting and hoping to buy the Coinbase Index fund...but I have requested info on it twice and have received NADA from Coinbase. I guess I should be happy as prices as declined, but I would think we are getting to a low. No reason for that statement other than a gut feel, buy i have a rather prodigious gut!

[Foxx]

Rockefeller's venture capital arm, Venrock, is partnering with CoinFund to help entrepreneurs build businesses based on blockchains.

be sure and listen to the short interview with David Packman.

 

institutional money is now entering the space.

Edited April 8, 2018 by Foxx

[John from Riverside]

Im still investing in it....:)

[TheElectricCompany]

Interesting read...

https://medium.com/@kaistinchcombe/decentralized-and-trustless-crypto-paradise-is-actually-a-medieval-hellhole-c1ca122efdec

[Foxx]

something just shot BTC out of a cannon. up 11% in a little over a half hour.

[Punching Bag]

Surprising since some of Bitcoins major customers were impacted by law passed yesterday.

The customers were already under pressure since they could not accept credit cards due to previous laws so let people pay using bitcoins.

[KD in CA]

On 4/12/2018 at 4:53 AM, Foxx said:

something just shot BTC out of a cannon. up 11% in a little over a half hour.

 

It was declared uh, kosher, under Shariah law.    

[T&C]

Bitcoin burglar escapes:

 

http://www.baynews9.com/content/news/baynews9/news/article.html/content/news/articles/ap/2018/04/17/Suspect_in_Iceland_s_Big_Bitcoin_Heist_escapes_prison.html

[Foxx]

first we have this item:

 

Goldman Sachs to Launch Bitcoin Futures Contracts

 

then today we have this item:

 

also, it appears that the consolidation phase of the last 4 months is now complete and BTC is looking for a breakout to the upside.

[Jauronimo]

Late March early April was just depressing.  $300 ETH and sub $7,000 BTC was a real gut check and don't even want to talk about some of my Alts. I top ticked ADA, IOTA, and then went full tard into QSP and FUN.  If you've never heard of FUN, let me tell you its anything but. ZRX and EOS weathered the storm fairly well.  I took about a month long break from checking prices.

 

Now everything is back in the black. 

[John from Riverside]

Im still investing....:)  Little bit each month

[Foxx]

i guess what i don't get is the whole futures (fakeshit) market. 

 

they sell these things like derivatives. they inflate the number of paper BTC and manipulate it's price. fact, there is only slightly more than 17million BTC currently in existence today with a total of only 21 million that will ever be in existence. these guys, for lack of a better descriptor, are going to sell 'x' times that amount of BTC in paper, something that is completely worthless, as all derivatives essentially are. derivatives are a banksters wet dream, they can't lose unless the whole house of cards collapses.

 

back in November of last year when word leaked that the Cboe and CME would be the first to begin futures trading, the price ran from $6.5 k to within a whisker of $20k in one months time. when they actually began selling the futures is when the bear market began and the consolidation phase kicked in. will something similiar happen again with the grandaddy of derivates announcing they are getting in? i don't know but i do know that their timing is pretty good. this consolidation/correction phase we just went through has formed solid support needed for just such another run, imo.  my distaste for derivatives aside, i do believe this next run up is going to be on an order of magnitude what the last one was.

 

your mileage may vary. your own due dilligence is required and absolutely needed before making any investments in any speculative instrument. this above are just my musings and not to be taken seriously.

 

word of note here, you don't own any BTC unless you own the private key to the wallet that the BTC is stored in.

Edited May 3, 2018 by Foxx

[Foxx]

the market free fall is something to see. BTC is in the $5k territory, ETH is approaching $400 and LTC has dropped 25% in the last ten days alone.

 

capitulation is at hand.

Edited June 24, 2018 by Foxx

[John from Riverside]

6 hours ago, Foxx said:

the market free fall is something to see. BTC is in the $5k territory, ETH is approaching $400 and LTC has dropped 25% in the last ten days alone.

 

capitulation is at hand.

Fox

 

I havent been keeping up and modestly continue to buy bitcoin when I get paid......still a good investment?

[Foxx]

24 minutes ago, John from Riverside said:

Fox

 

I havent been keeping up and modestly continue to buy bitcoin when I get paid......still a good investment?

John, i can't give you  financial advice. who knows where the market will go from today to tomorrow. personally, yes i still believe cryptos are the wave of the future and worth looking into. again please do not take my advice, your own due diligence is required. i was lucky in that i got into Bitcoin back in 2012 when it was $5 apeice. as such, regardless where it goes i have already won.

[John from Riverside]

7 minutes ago, Foxx said:

John, i can't give you  financial advice. who knows where the market will go from today to tomorrow. personally, yes i still believe cryptos are the wave of the future and worth looking into. again please do not take my advice, your own due diligence is required. i was lucky in that i got into Bitcoin back in 2012 when it was $5 apeice. as such, regardless where it goes i have already won.

Personal opinion will do...I wont hold you to it

 

Not putting more towards it then I can afford to lose......and its a long term thing for me.

[Foxx]

Bitcoin has  exploded over 10% higher today, obliterating its 50-day moving average. it is above $7000 for the first time since early June. it is also now testing its 100 day moving average, shooting up over $600 in 30 minutes.

 

stay tuned....

Edited July 17, 2018 by Foxx

[/dev/null]

https://tech.slashdot.org/story/18/09/20/2144213/crippling-ddos-vulnerability-put-the-entire-bitcoin-market-at-risk

[mead107]

More TBD members have meadcoin than bitcoin ?

[Mr Info]

11 hours ago, /dev/null said:

https://tech.slashdot.org/story/18/09/20/2144213/crippling-ddos-vulnerability-put-the-entire-bitcoin-market-at-risk

 

Funny comment from this link.

 

“Can we please just change the name of Bitcoin to CrimeCoin already? That's the only thing it's good for.

 

Exactly. We could eliminate all but four coins, and use different ones for different specific purposes:
- Drug Coin
- Child Porn Coin
- Money Laundering Coin
- Ransomware Coin”

[BeginnersMind]

54 minutes ago, Mr Info said:

 

Funny comment from this link.

 

“Can we please just change the name of Bitcoin to CrimeCoin already? That's the only thing it's good for.

 

Exactly. We could eliminate all but four coins, and use different ones for different specific purposes:
- Drug Coin
- Child Porn Coin
- Money Laundering Coin
- Ransomware Coin”

 

I had business dealings with an alternate currency in the early 2000s. I could never see any rationale for its use besides a few hippie communes and a lot of drug and human trafficking. 

 

Most of the people involved ended up indicted, though they were not personally involved in any of the darker crimes. 

 

Edited September 21, 2018 by BeginnersMind

[ExiledInIllinois]

4 minutes ago, BeginnersMind said:

 

I had business dealings with an alternate currency in the early 2000s. I could never see any rationale for its use besides a few hippie communes and a lot of drug and human trafficking. 

 

Most of the people involved ended up indicted, though they were not personally involved in any of the darker crimes. 

 

MeadCoin would never be associated w/that kind of BS!

 

Okay, maybe illegal Stromboli trafficking. Hey, somebody has to supply the duty-free Italian mortadella & prosciutto and MeadCoin talks!

 

A few slogan:

 

"MeadCoin it's everywhere."

 

"When MeadCoin talks, everybody listens!

[Foxx]

12 hours ago, /dev/null said:

https://tech.slashdot.org/story/18/09/20/2144213/crippling-ddos-vulnerability-put-the-entire-bitcoin-market-at-risk

here is the original article from TheNextWeb.

[plenzmd1]

hey @Foxx , any sense of where this stuff is headed?  I never did buy ant bitcoin, but own a smidge of ETH that is down 90% from its high!!!

 

Thinking of still buying some bitcoin, but wonder if it is the proverbial "catch a falling knife"

[Foxx]

hey Plenz,

 

been wanting to post to this thread for awhile now.  thanks for  bringing it to the forefront.

 

first of all, i have to own my prediction. obviously, 6 figure BTC is not in the cards this year. to say i was wrong would be the understatement of the year. again though, as stated throughout this thread, in no way am i a financial adviser.

 

with that said, i will offer up my current thoughts...

 

i did host that crypto currency conference back in late August/early September on the outskirts of Seattle, WA. which was attended by roughly 35/40 people from all over the world. by all accounts we had a really good time. the hot topic of conversation throughout was obviously BTC and all the aspects that come along with it, along with discussions on various other coins and a great many tokens. 

 

the hardest thing i guess is telling a bunch of people (myself included) that you are in a bear market when you have a bunch of people who are long. i have a great many contacts that i utilize to try and understand the direction things are heading in. it took me sometime to understand what one of them was trying to tell me but this person as been the most correct out of everyone i know with regard. to that end, my opinion is worth as much as the next guys i suppose (possibly less).  i did however take a position on the sidelines with a good percentage of my portfolio  just before the middle of the year. obviously i didn't time the top but i did so long before we got to the levels we are at today.

 

basically BTC is acting much like a commodity. some might argue that it is not but it bears all the hallmarks of a commodity. let us not forget that the US gov still classifies it as a 'property' even though it lost certain standing in 2018 that comes along with a 'property'. namely, tax reporting requirements (for this reason, i performed only a fraction of trading activity this year). doing some forensic analysis of BTC fiat price history, it can be argued that BTC has experienced 4 bubbles in it's short existence. with that thought, imo, this current bubble will not be complete until we reach into the triple digits, barely into it though. why do I think this? because having looked at the history of Bitcoin as a guide, history never really repeats, though it sure does rhyme often enough to cause me to take notice and appreciate it as a forecasting tool. the 2011 bubble cycle lasted 2 years before that was complete. the next bubble in 2013 was a mini and lasted a few months before that cycle completed. the second bubble of 2013 lasted 4 years before it's cycle was complete. which in turn brought us to our current bubble that we are now living through. it could also be argued that there was a bubble prior to the one in 2011.

 

i am still long BTC and have a great belief in blockchain technology. i truly believe that blockchain is going to change the way everyone interacts with the world around them. it is already though you may not know it. i still think (hope) BTC is going to see 6 figures per at some point in the future. the biggest question is when that future will arrive. i am strictly of the opinion today that the current bubble cycle needs to complete itself before it will pave the way for the next bubble and that 6 figure BTC. if i had to guess, i would venture late 2019. however, when i see BTC in the 1000/1500K area, i will begin to scale back in.

 

the reason i am a believer and still long on BTC has been stated previously in this thread many times. to be succinct about why, is i think it will become an international settlement vehicle between countries. something is going to supplant the USD as the world reserve and imo, a neutral conveyance has the best opportunity to do so.

 

i hope this answers your question, if not let me know and i will try to address anything i may have omitted.

 

again, anything contained within this post should not be construed as financial advice, these are just the musings of a keyboard jockey. your own due diligence is of the utmost importance before investing in any financial instrument.

Edited December 7, 2018 by Foxx

[plenzmd1]

AppreciAte the post @Foxx  let me make sure I understand. 

 

You think i good buy in level may may be under 2000? Again, I understand it’s best guess, and BTC could be at $10,000 before it hits $ 2500, and it could hit zero after hitting $1800. 

 

I much appreciate the insight, you understand this stuff way more than I do. 

 

In in terms of blockchain, I agree. Why I bought the ETH @500, thought that the blockchain play. Small stake, but no thoughts of selling any.  Am think of double my position for 20% of the investment!?

 

as they said in boilerrrom, if ya liked it at $500, ya gotta love it at $94!!!!!

Edited December 7, 2018 by plenzmd1

[Foxx]

21 minutes ago, plenzmd1 said:

AppreciAte the post @Foxx  let me make sure I understand. 

 

You think i good buy in level may may be under 2000? Again, I understand it’s best guess, and BTC could be at $10,000 before it hits $ 2500, and it could hit zero after hitting $1800. 

 

I much appreciate the insight, you understand this stuff way more than I do. 

 

In in terms of blockchain, I agree. Why I bought the ETH @500, thought that the blockchain play. Small stake, but no thoughts of selling any.  Am think of double my position for 20% of the investment!?

 

as they said in boilerrrom, if ya liked it at $500, ya gotta love it at $94!!!!!

correct, Plenz. BTC could go to $10K before hitting $2500 and it could go to $0 after hitting $1800. a good entry point may be sub $2K. of course, your mileage may vary.

 

in an nutshell, the beauty of the blockchain is that it is a trustless ledger and therefore immutable. this removes the possibility of corruption which is priceless. lots of innovation coming down the pike.