Cryptos

[mead107]

Stock pile meadcoin. Will be able to use it anywhere.

[ExiledInIllinois]

Stock pile meadcoin. Will be able to use it anywhere.

Word up!

 

mead's like E.F. Hutton. "When mead talks, people listen!"

 

Or....No stromboli for you!

[PromoTheRobot]

How's dose Bittycoins doin'?

[DC Tom]

How's dose Bittycoins doin'?

 

Got mine in the mail today. They're tasty, but not very filling. I was hungry again a half-hour later.

[snafu]

Growing pains, I suppose. China doesn't seem to like Bitcoin.

http://www.bbc.com/news/business-41276348

[Just Jack]

Growing pains, I suppose. China doesn't seem to like Bitcoin.

http://www.bbc.com/news/business-41276348

I heard the real reason is they want to get in on this Meadcoin thing while prices are low!

[Foxx]

again, a shameless bump for those talking cryptos in the shoutbox.

cryptos awareness is currently at about 1.5%, this known as the early adopter/innovator phase. when 3% of the population becomes involved in cryptos, they will have achieved the critical demographic awareness required to take over the monetary system. this is because the early adopters and the innovators always drive the rest of the herd.

at 10%, it becomes mainstream.

Edited October 29, 2017 by Foxx

[dayman]

Deleted the longer post, I'll just say crypto currency is definitely "real" and here to stay even knowing some big issues will come up eventually.

 

Bitcoin is famous and liquid so it'll stay on top but it is an inferior product. It'll be wealth storage asset but that's it.

 

Ethereum is really cool. Look into that.

 

Some of the smaller "alt coins" that you can only get on an exchange are cool and will appreciate.

 

How to do it easily if you want to:

 

1. Buy bitcoin or ethereum on coinbase.com with bank account (takes a few days or a week to process b/c you deal with a bank ... zzzzz).

 

2. Transfer from coinbase to bittrex.com (an exchange where you can buy many different coins but only with other coins). This is very quick q/c you don't have to deal with a bank!

 

3. Trade around! Have fun. Learn. Experiement. Trades are almost instant if you are at market price.

 

4. Transfer back to coinbase (very quick) and cash out to the bank from there (again, this process takes days b/c ... banks ... zzzz).

 

Fun stuff. Learn what is going on. Don't put anything in you can't lose, and really don't put more than a few thousand in regardless if you are reading this post lol.

 

PS: To learn, start by learning about Bitcoin and Ethereum and contrasting the two. I would only spend time learning about other coins after I knew the basics of those two.

Edited October 31, 2017 by dayman

[PolishDave]

again, a shameless bump for those talking cryptos in the shoutbox.

 

cryptos awareness is currently at about 1.5%, this known as the early adopter/innovator phase. when 3% of the population becomes involved in cryptos, they will have achieved the critical demographic awareness required to take over the monetary system. this is because the early adopters and the innovators always drive the rest of the herd.

at 10%, it becomes mainstream.

 

I doubt it takes over the monetary system. The average person is going to continue placing far more value in the US dollar because of its history of being a store of value and stable - even though it is a fiat currency. Heck, even people in other countries will mostly continue to "trust" the US dollar more than some imaginary digital currency they can't see on paper.

 

I do think that fortunes are going to be made in cryptos like Bitcoin and others. Huge, huge fortunes will be made and lost.

 

The reason I don't think Bitcoin is going to replace major currencies is because countries will outlaw it, if it begins to truly threaten their own currency. They will have to. And once it is outlawed, most Americans will only dabble with it instead of using it to replace dollars.

 

The biggest upside I see for Bitcoin and other cryptos is if and when inflation ever actually reignites in America or other major economies. If that happens, Bitcoin and others will be used as an alternative store of value much in the way that gold is currently used. That would likely cause those cryptos to skyrocket to prices that even make $6,000 Bitcoin look ridiculously cheap. That is when the biggest fortunes will be made.

 

I currently mine alternatives to Bitcoin as Bitcoin itself is expensive to mine paying WNY electricity rates. I do not do it as a serious business - more as a hobby. BUt if the price keeps climbing in Bitcoin, or if I could create a very cheap way to generate electricity, then I would get more serious about it.

 

Once the big banks get their crytpo Exchange Traded Funds launched, especially the leveraged ones, I fully intend to trade them - hopefully for a large profit. But I won't be storing money in there. I will be trading in and out from the long and short side depending on trends - and keeping my investment in US dollars.

 

As an American, you have to trust the US dollar more. Because, if the US dollar goes to hell, the entire country goes with it and chaos will reign. Better to own guns at that point.

Edited October 31, 2017 by PolishDave

[Augie]

again, a shameless bump for those talking cryptos in the shoutbox.

 

cryptos awareness is currently at about 1.5%, this known as the early adopter/innovator phase. when 3% of the population becomes involved in cryptos, they will have achieved the critical demographic awareness required to take over the monetary system. this is because the early adopters and the innovators always drive the rest of the herd.

 

at 10%, it becomes mainstream.

Do you have an infomercial?

[Captain_Quint]

I ordered Meadcoin online and the Feds showed up at my house.

 

%&@!

[BringBackFergy]

I have 200,000 shares of EJ Manuel stock I've been holding for a rainy day. How much Bitcoin will that get me?

[Gugny]

I have 200,000 shares of EJ Manuel stock I've been holding for a rainy day. How much Bitcoin will that get me?

 

Depends .... is his mom included?

[Foxx]

 

I doubt it takes over the monetary system. The average person is going to continue placing far more value in the US dollar because of its history of being a store of value and stable - even though it is a fiat currency. Heck, even people in other countries will mostly continue to "trust" the US dollar more than some imaginary digital currency they can't see on paper.

 

I do think that fortunes are going to be made in cryptos like Bitcoin and others. Huge, huge fortunes will be made and lost.

 

The reason I don't think Bitcoin is going to replace major currencies is because countries will outlaw it, if it begins to truly threaten their own currency. They will have to. And once it is outlawed, most Americans will only dabble with it instead of using it to replace dollars.

 

The biggest upside I see for Bitcoin and other cryptos is if and when inflation ever actually reignites in America or other major economies. If that happens, Bitcoin and others will be used as an alternative store of value much in the way that gold is currently used. That would likely cause those cryptos to skyrocket to prices that even make $6,000 Bitcoin look ridiculously cheap. That is when the biggest fortunes will be made.

 

I currently mine alternatives to Bitcoin as Bitcoin itself is expensive to mine paying WNY electricity rates. I do not do it as a serious business - more as a hobby. BUt if the price keeps climbing in Bitcoin, or if I could create a very cheap way to generate electricity, then I would get more serious about it.

 

Once the big banks get their crytpo Exchange Traded Funds launched, especially the leveraged ones, I fully intend to trade them - hopefully for a large profit. But I won't be storing money in there. I will be trading in and out from the long and short side depending on trends - and keeping my investment in US dollars.

 

As an American, you have to trust the US dollar more. Because, if the US dollar goes to hell, the entire country goes with it and chaos will reign. Better to own guns at that point.

the one thing about fiat, is that it always seeks it's intrinsic value - essentially zero. some get there quickly such as the German Mark in the Weimar Republic or the Zimbabwean dollar (a 100 billion dollar bank note, lol). some are rather stable and survive a long time such as the USD (though as a history of fiat shows, it has really outlived what is a normal standard). they all have that one thing in common though, they are inflationary, by design and that is why throughout history, they have an inherent limited lifetime. I know that each year my USD buys less and less and my pay doesn't quite rise to meet that offset. i have to scramble more and more to manitain the standard of living i have become accustomed to. that, or i have to cut corners. i dont like cutting corners.

 

the biggest advantage these cryptos have, is that they already exist. hell the CME group just launched BitCoin Futures yesterday. the world runs on derivatives and whether anyone wants to believe it or not, the banksters run the world. they are slowly comin along and getting with the program. XRP, is a bankster coin and has a good chance of being the settlement vehicle for intraday loans. there is no finite amount of XRP.

 

Btc will be the international settlement vehicle. it is the first mover so it is going to realize the highest plateau. also because of the finite supply countries know that it is deflationary and the US cannot simply punch a few keys and bring umpteen trillion into existence like with QE. this guarantees that whatever they hold the value will remain.

 

i agree, you want the USD to remain strong and retain that trust. i do not want to see chaos and i don't want guns everywhere i look. however i do not trust my government or more directly, the banksters. nary a patriot did and that is the main reason for the second amendment.

 

 

Do you have an infomercial?

nope, just a big fan of decentralization. corruption will always exist when anything of value is entrusted into the hands of a few.

 

see, the thing that is lost in all of this crypto talk is that they are just apps upon the real brilliance here. that being the blockchain. the blockchain (Btc blockchain), in all it's myriad of manifestations, is really nothing more than a public ledger (this public ledger is also immutable, that has never existed before). this public ledger exists on all the nodes that run the various blockchains. anyone who runs a core wallet, has a record of every single transaction ever made on it. this is why the talk about, 'if the internet goes down, all your Bitcoin is gone'. that's just not true. all it would take to recreate the blockchain is one users computer with the chain. 'yeah well, if the internet goes down, you can't spend your Bitcoin'. true, but there is a equally good chance that you won't be able to spend your fiat either. all fiat today is digital, nothing but 1's and 0's in a 'private' ledger somewhere.

 

blockchain, though you may not have heard of it, is quickly going to change the way you interact with the world around you. there are so many companies, government agencies exploring ways to utilize it and it's effectiveness that there are simply too many to list. do some research and you will be amazed what is coming.

Edited November 1, 2017 by Foxx

[BeginnersMind]

Did you just advise everyone to go Long on a crypto currency, and at the same time put in not more than a few thousand dollars due to risk?

 

Errrrrm.

[phypon]

@Foxx - Awesome post and right on!

 

One thing I'm curious about though is it seems we are in a bubble right now. BTC has just been ridiculous over the last couple of weeks with the fork, CME, and yet another upcoming fork. There has to be a major correction coming soon. Do you see the same?

[PolishDave]

the one thing about fiat, is that it always seeks it's intrinsic value - essentially zero. some get there quickly such as the German Mark in the Weimar Republic or the Zimbabwean dollar (a 100 billion dollar bank note, lol). some are rather stable and survive a long time such as the USD (though as a history of fiat shows, it has really outlived what is a normal standard). they all have that one thing in common though, they are inflationary, by design and that is why throughout history, they have an inherent limited lifetime. I know that each year my USD buys less and less and my pay doesn't quite rise to meet that offset. i have to scramble more and more to manitain the standard of living i have become accustomed to. that, or i have to cut corners. i dont like cutting corners.

 

the biggest advantage these cryptos have, is that they already exist. hell the CME group just launched BitCoin Futures yesterday. the world runs on derivatives and whether anyone wants to believe it or not, the banksters run the world. they are slowly comin along and getting with the program. XRP, is a bankster coin and has a good chance of being the settlement vehicle for intraday loans. there is no finite amount of XRP.

 

Btc will be the international settlement vehicle. it is the first mover so it is going to realize the highest plateau. also because of the finite supply countries know that it is deflationary and the US cannot simply punch a few keys and bring umpteen trillion into existence like with QE. this guarantees that whatever they hold the value will remain.

 

i agree, you want the USD to remain strong and retain that trust. i do not want to see chaos and i don't want guns everywhere i look. however i do not trust my government or more directly, the banksters. nary a patriot did and that is the main reason for the second amendment.

 

Yes the USD is inflationary over time.

 

I don't like that and neither do most people who pay attention to it, but that is the way that modern economies operate for better or for worse. They would rather experience low inflation and the relative economic stability that comes with it than risk deflation which triggers downward economic spirals. And they can only do that if they control the currency to a large extent. This is why they won't ever concede power away from controlling the currency.

 

Although the USD is inflationary, the level of inflation it has experienced has been very low on a year over year basis with small pockets of exceptions to that rule. On a year over year basis the value of the dollar rarely depreciates more than 2 or 3%. And that isn't enough to upset the average American. The average American doesn't have any idea or comprehension of what we are discussing here. Only a much smaller percentage do.

 

If you imagine Joe average out there using cryptos instead of USD- the first time that crypto goes down in value 10% or more overnight because of some international event, that person is going to crap his pants and become extremely disgruntled.

 

The USD, on the other hand, doesn't experience shocks of that magnitude that quickly. It is slow to appreciate or depreciate over the short run. As far as currencies go, it has been the most stable. That is where it's value is.

 

People would rather avoid pain than experience pleasure. That is why for the foreseeable future, the USD will likely remain the world's dominant currency.

 

What do you think is going to happen to Bitcoin if organizations like the European Union or countries like the US or China begin seeing too much money moving out of their currencies into Bitcoin?

 

In my opinion they are either going to outlaw it and/or replace it with their own version of it or come up with some other way to strongly dis-incentivise its use. Which will result in what for that crypto? More instability perhaps. More reason not to use it except as a speculative opportunity to make or lose money.

 

I do think it is still plenty early enough for new people to get in and make huge fortunes with cryptos like Bitcoin and others. No doubt. I just wouldn't plan on one of the speculative - non-regulated cryptos - to supplant the USD or any other major currency anytime soon. Countries won't allow it because they can't afford to allow it. Once a crypto (perhaps Bitcoin) gains enough popularity, each major country will drop the hammer on it like dominoes falling one after another.

 

Call Bitcoin and other cryptos what they really are - HIGHLY speculative risky investments that could make you a lot of money or cause you to lose every dollar you invested.

[Foxx]

fast forward if you don't want the geek stuff, to about 6:45

 

does anyone here know what the clip is about?

 

 

Edited November 29, 2017 by Foxx

[4merper4mer]

14 hours ago, Foxx said:

fast forward if you don't want the geek stuff, to about 6:45

 

does anyone here know what the clip is about?

 

 

You do.  Because you're a genius.

On November 1, 2017 at 6:17 PM, Foxx said:

 

 

nope, just a big fan of decentralization. corruption will always exist when anything of value is entrusted into the hands of a few.

 

 

 

And yet you don't want people having guns.

 

How many bitcoins to buy a rainbow farting unicorn?

[Captain_Quint]

I thought about bitcoin since last week and have decided to stick with municipal bonds instead. Alot less volatile.

 

Do you municipal bonds?

[Foxx]

10 hours ago, Captain_Quint said:

I thought about bitcoin since last week and have decided to stick with municipal bonds instead. Alot less volatile.

 

Do you municipal bonds?

no, I don't muni. they are probably the most stable bonds you can get though.

 

10 hours ago, 4merper4mer said:

You do.  Because you're a genius.

 

And yet you don't want people having guns.

 

How many bitcoins to buy a rainbow farting unicorn?

where did i say i didn't want people having guns? 

[plenzmd1]

Can we combine these two threads? Seems silly to have two

[4merper4mer]

24 minutes ago, Foxx said:

 

 

where did i say i didn't want people having guns? 

 

About 5 posts up thread.  Granted I may have misinterpreted a poorly worded sentence.

[Foxx]

4 minutes ago, 4merper4mer said:

 

About 5 posts up thread.  Granted I may have misinterpreted a poorly worded sentence.

reading comprehension, it's a wonderful thing. you might try it sometime.

[4merper4mer]

3 hours ago, Foxx said:

reading comprehension, it's a wonderful thing. you might try it sometime.

 

Learn to write coherently and succinctly.

[Foxx]

7 hours ago, 4merper4mer said:

 

Learn to write coherently and succinctly.

so you dismiss the comprehension of reading, gotcha.

 

run along now.

[Foxx]

does anyone know what an ICO is?

[Jauronimo]

31 minutes ago, Foxx said:

does anyone know what an ICO is?

Yes.

[Foxx]

12 minutes ago, Jauronimo said:

Yes.

fantastic! good for you!

[Jauronimo]

44 minutes ago, Foxx said:

fantastic! good for you!

Did you want to discuss something about them or were you just curious?

[Foxx]

oh, no. I know quite a bit about them, hence one reason why i started this thread. i just know that there are many here who have no idea that the ICO is yesterdays IPO. I was wanting to raise awareness. since no one asked what they are yet.....

[Foxx]

since the beginning of November, all cryptos (much like Btc) have been soaring.

 

particular movers include PPT, DASH, BCH, LTC. PPP, IOT, ETH, XMR, EOS, ZEC, VTC, SALT and many others. 

[plenzmd1]

Again i will ask WTF we have two threads for this..mods can we please merge or just close this one?

[Foxx]

no, not all cryptos  are Bitcoin. the Bitcoin threads is solely for just that, Bitcoin as it is the big daddy. 

 

this thread is for all the other cryptos. 

 

you have an aversion to classification?

[Jauronimo]

You jerks following any altcoins?

 

I've been watching EOS, IOTA, ZRX, XRP, ADA and LEND among others. I expect some of these to take off in 2018, swept up in general crypto mania.

[Foxx]

just me but i expect BTC, BCH, LTC, DASH, XRP, VERI, PPT, PPP, OMG, SNT, SALT, CAT, PLR and NEO to have a very good '18.

Edited December 18, 2017 by Foxx

[Jauronimo]

31 minutes ago, Foxx said:

just me but i expect BTC, BCH, LTC, DASH, XRP, VERI, PPT, PPP, OMG, SNT, SALT, CAT, PLR and NEO to have a very good '18.

Looks like XRP and BCH are both going to be listed on Coinbase soon so that will be a big pop, I imagine.  After LTC blew up last week I was asking where the demand was coming from and walked into the break room to hear 10 junior pukes in my office talking about how they set up Coinbase accounts the night before and just loaded up on LTC because they could buy a whole coin.  I know that's not the whole story and LTC is being used for actual commerce but relatively cheap and listed on Coinbase = trading opportunity.

 

SALT and LEND both caught my eye but SALT is not listed on the exchanges I use. 

 

Many of these tokens/coins present compelling use cases but have competitors or low barriers to entry for new entrants.  I'm going to have to explore some of those in more depth. I've been focusing on the few plays which I think could be transformative platforms rather than more single-use coins, for lack of a better term.  I'm interested to hear your views on alts and what you're looking for with these little guys.

 

QSP is another one I started researching as it seems like more of a BlockChain/Smart Contract play than trying to pick a winner in the space.

[Foxx]

 

39 minutes ago, Jauronimo said:

Looks like XRP and BCH are both going to be listed on Coinbase soon so that will be a big pop, I imagine.  After LTC blew up last week I was asking where the demand was coming from and walked into the break room to hear 10 junior pukes in my office talking about how they set up Coinbase accounts the night before and just loaded up on LTC because they could buy a whole coin.  I know that's not the whole story and LTC is being used for actual commerce but relatively cheap and listed on Coinbase = trading opportunity.

 

SALT and LEND both caught my eye but SALT is not listed on the exchanges I use. 

 

Many of these tokens/coins present compelling use cases but have competitors or low barriers to entry for new entrants.  I'm going to have to explore some of those in more depth. I've been focusing on the few plays which I think could be transformative platforms rather than more single-use coins, for lack of a better term.  I'm interested to hear your views on alts and what you're looking for with these little guys.

 

QSP is another one I started researching as it seems like more of a BlockChain/Smart Contract play than trying to pick a winner in the space.

well, when ETH hardforked, they let customers withdraw their ETC but didn't list it. come the first of the year, they are supposed to grant you your BCH. this does not mean they will list it, though they certainly could. just giving a bit of history. XRP is a bankster coin so I can see CB listing it very much so. it began it's current rise middle of last week when it was hovering around $.22. today it is hovering around $.75. better than a 240% jump.

 

I will cover a few for now...

 

SALT, is listed on EtherDelta, Huboi and Bittrex. they are going t be releasing their lending [latform any day now. it was promised before the end of the year. they will be lending fiat against your cryptos so no need to sell them if you want/need fiat. 

 

Debitum, is another lending platform that is currently having their ICO. where they differ from SALT is that they are more geared towards SMEs. 

 

PPT (Populous), is a invoice trading company built upon the Smart Contract platform of Ethereum. during it's ICO, tokens went for, roughly $.30 a piece. right not they are going for $47.91 a piece. that is an astronimical appreciation of 21,349% (6490% ETH (mind you, ETH has risen 250% in this time as well)) since June.

 

PPP (PayPie), is a credit risk assessment company. during their ICO, their tokens went for roughly the same $.30 per token. their ICO was held in September and their tokens are currently trading for $2.53 for an appreciation of 666.69% (245% ETH) 

 

CAT, is a do it yourself Smart Contract company built on the Smart Contract platform of Ethereum. need or want a Smart Contract of your own but don't know how to write the code so it is bullet proof?  maybe you don't have the funds to hire someone to write the code for you. CAT's (BlockCat) platform will do it for you.

 

PLR, i am not real hip on because of they way they conduct themselves and the fact that they didn't have anything that remotely resembled a working product when they had their ICO. however with that being said, i did go large for their ICO because of their offering (and info i have). they are building a wallet that, it is hoped, will be the end all be all for wallets. 

 

NEO, could quite possibly become the Chinese Ethereum.

 

VERI, what can i say, very simply, it is going to put an end to naked shorts. as anyone who knows anything about the markets will tell you naked shorts hurt a company and there is not really much they can do about it..... for now. 

[Foxx]

GET INTO CRYPTO

[Fadingpain]

On August 18, 2017 at 9:01 PM, Foxx said:

 

was my post for you or those you threw off?

 

Be careful!  DC Tom knows more about everything than anyone on the planet! 

 

Weird thing is, he's still living in his mother's basement.