Crypto Currency - Who's into this?

Discussion in 'Lifestyle' started by Skins, Jul 5, 2017.

  1. ezinho

    ezinho Well-Known Member

    Said the same thing last Friday when I bought some more litecoin lol.

    Wonder if there will be a bounce up or if crypto will just slowly keep deflating until August 1st.
     
  2. Mia The Devil

    Mia The Devil Well Known Member

    The latter, I hope. :oops: No one knows what's going to happen the next 2 weeks.
     
  3. Skins

    Skins Head Nigga in Charge Staff Member

  4. DonTravolta

    DonTravolta le spicy memer

    No. I'm aiming for Trillions, not billions ;)
     
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  5. tc_pattaya

    tc_pattaya Legendary Member

    http://fortune.com/2017/07/12/ethereum-price/
     
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  6. Monger88

    Monger88 Well-Known Member

    I've been in XRP since 2014 and since april it has increased by 2000% (with a slump as of late). Best return I ever had.

    XRP is also THE superior technology among all the currencies, together with DASH (which is anonymous).

    Even better, Dash and XRP (Ripple) are cooperating together (to share nodes, gateways, etc) instead of competing.

    Bitcoin was a great idea, but concretely it's just a protoype, clunky, with many flaws (takes 3 hours to conclude a transaction vs INSTANT for XRP).

    It is totally possible to pay for poon with cryptos - this would have to be negociated with the bar owner, if he can understand how it works and equip himself with a debit card.

    The Pattaya Beer Garden is one place that famously accepts Bitcoins, but as I said, Bitcoin is too clunky - I don't want to use it.
     
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  7. SteveBlog

    SteveBlog Well-Known Member

    I actually owned one , Bitcoin, when it was about $100 on an online poker site. The site was closed by the Feds the owner took off to Costa Rica and my coin is lost in (cyber)space. I then went to buy one from a machine at the D casino in Vegas but the spread was too high. It was then $225 to buy $185 to sell. I still don't understand how it works but could be very useful part of everyone's portfolio.It is extremely volatile so I would recommend having no more than 10% of your savings in it.Some of the Bitcoin alternatives are thought to be more user friendly. I have read of a withdrawal taking up to 3 hrs at the Bitcoin ATM in Vegas
     
  8. tc_pattaya

    tc_pattaya Legendary Member

  9. Mia The Devil

    Mia The Devil Well Known Member

  10. tc_pattaya

    tc_pattaya Legendary Member

    http://gizmodo.com/37-million-in-ether-stolen-as-people-refuse-to-learn-t-1797075264
     
  11. JohnnyB

    JohnnyB Well-Known Member

  12. tc_pattaya

    tc_pattaya Legendary Member

  13. tc_pattaya

    tc_pattaya Legendary Member

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  14. Mia The Devil

    Mia The Devil Well Known Member

  15. DonTravolta

    DonTravolta le spicy memer

    No. I wanted to do it for the keks but i already waste too much money on other shit.
     
  16. tc_pattaya

    tc_pattaya Legendary Member

  17. DonTravolta

    DonTravolta le spicy memer

  18. tc_pattaya

    tc_pattaya Legendary Member

    I think the idea would be to hedge against wild swings in crypto currencies or to cover exposure against a specific one. For example, if you dealt a lot in ethereum and were afraid it could crash, you might do a bitcoin swap with another party to cover yourself. This is the same kind of hedging that banks do with fiat currencies for exporters, etc. Swaps and other derivatives are just ways of dealing with risk.

     
  19. DonTravolta

    DonTravolta le spicy memer

    Yeah but the beauty of cryptos is that you can easily exchange them for another one yourself. No need to place some retarded leverage orders if you can actually own the coins. Too many people lost out on that margin trading shit when the exchanges were crumbling under traffic when prices go wild and thus not being able to close their positions timely.
     
  20. tc_pattaya

    tc_pattaya Legendary Member

    Yeah, but when you exchange one crypto currency for another or even a fiat currency, the rate is whatever the market is at that point, right? To hedge against swings, you would have to hold a bunch of different types at once, which some people might not be able to do. You also wouldn't be able to sign contracts that say something like, if ethereum falls to X, the other party agrees to buy my coins at Y dollars, etc. Exchange infrastructure could be another area. If LedgerX is serious about market making, maybe they guarantee certain trading volumes or speed.
     
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