Crypto Currency - Who's into this?

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

  1. southernallstars

    southernallstars Well-Known Member

    what do you do, where and how do you invest? any recommendations for this year?

    yeah, they also can’t sell when they loose money, they just try to sit it out, but in a bubble that doesn’t work.
     
    Mikefox likes this.
  2. Mikefox

    Mikefox Well-Known Member

    I understand your viewpoint but ofcourse volatility is how people make money in any market and i would suggest its the higher levels of risk you are not comfortable with and therefore prefer more traditional asset classes.

    There are lots of sayings such as its not timing the market but time in the market thats important with compounding playing a big factor in your returns over many years.

    To try to pick the top and bottom of any market is near on impossible so my point with greatest respect was if your so certain about your information you posted get to shorting crypto.

    I keep reading about new funds and futures etc relating to crypto so maybe you can gain exposure via them.

    Just to be upfront and honest i have never invested in the stock market in a big way (yet) before but have made investments in crypto and did some swing/day trading as a hobby a few years back.
     
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  3. tc_pattaya

    tc_pattaya Legendary Member

  4. tc_pattaya

    tc_pattaya Legendary Member

    How to Launder $500 Million in Digital Currency

    https://www.bloomberg.com/news/arti...500-million-in-digital-currency-quicktake-q-a
     
  5. Dale

    Dale Well-Known Member

    Totally disagree.....blockchain technology is here for good, and for good reason. The train has left the station and is not returning....this is the future. In my opinion, it is like saying you still think the internet is not really sustainable, and sooner or later people will stop using it.
     
  6. JohnnyB

    JohnnyB Well-Known Member

    Blockchain is the future, but crypto currencies and Blockchain are not one and the same.
     
  7. maxpower

    maxpower Well-Known Member

    Yes....I think you guys are onto something here. I also think that we need to keep the underlying technology, block chain/distributed ledger and crypto, one of its most well known applications separate.

    I work with clients in private equity and some VC circles and a lot of very smart folks in those circles are very excited about the underlying technology but not as much on crypto.

    Again, using overused comparison, it’s like the early days of internet. Majority of early internet startups focused on retail i.e. pets.com, etoys, commerce one and such. (I got burnt pretty bad on a few of those myself....) but not many people saw the other more valuable use as such as Facebook, Google, Dropbox, Amazon (I guess this one is retail but amazon web services is what created the “moat” for amazon compared to other internet retailers.), and to some degrees Apple and its iOS/iTunes/iCloud environment.

    The general thinking in those circles is that it’s exciting race that they want to be a part of but too early to bet on any particular horses.
     
  8. Mikefox

    Mikefox Well-Known Member

    How do you imagine blockchain would work with out crypto? Any examples in mind?

    My understanding of blockchain is its sinply peer to peer transactions where no-one has to approve the transaction.

    I quite agree the tech is in many cases no relation to the token/coins and it seems there only really around to be used to raise capital.

    Saying all this im still invested, I could turn out to be a complete stupid cunt or a right clever cunt! :D
     
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  9. maxpower

    maxpower Well-Known Member

    Here is just a few examples:

    https://techcrunch.com/2018/01/28/b...to-transform-the-financial-services-industry/

    Think about the process you went through to buy a camera before internet vs after internet. Now think of banks or any financial service selling companies as before blockchain and imagine how it look after blockchain. I said imagine because nobody really knows the full impact when it is broadly adopted.
     
    Last edited: Jan 30, 2018
    Dale likes this.
  10. JohnnyB

    JohnnyB Well-Known Member

    Basic automation of back office at financial institutions.
     
  11. Mikefox

    Mikefox Well-Known Member

    Basic automation = ?? The day to day operations you mean?

    Serious question please explain how block chain technology would help?
     
  12. tc_pattaya

    tc_pattaya Legendary Member

  13. BL010181

    BL010181 Well-Known Member

    It’s a shared ledger accounting system - everyone has a copy of the information so you can’t “cheat.” It’s decentralized with many nodes so everyone has a copy of the information instead of just the traditional main one - big banks.

    Anything of value that you would need to keep track of can be with the blockchain. Some people will probably lose their jobs but oh well - creative destruction means change and evolution
     
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  14. tc_pattaya

    tc_pattaya Legendary Member

    https://mobile.nytimes.com/2018/02/02/technology/cryptocurrency-puerto-rico.html
     
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  15. Skins

    Skins Head Nigga in Charge Staff Member

    https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html

    "James Fickel, 26, lives in a high-rise with a Russian blue cat called Mr. Bigglesworth. Mr. Fickel is known in the community for “going full YOLO” and investing $400,000 when Ethereum was at 80 cents. Now, with a fortune he says is in the hundreds of millions, his parents have retired and sent his younger sister to live with him."

    Good lord can you imagine? :confused:
     
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  16. Richard Sharpe

    Richard Sharpe Well-Known Member

    So. How many of you bought Bitcoin, and if you were to sell it now, would you be up, or would you be burned?
     
  17. Dale

    Dale Well-Known Member

    Last edited: Feb 13, 2018
  18. ezinho

    ezinho Well-Known Member

    I'm in Vegas right now and there is a bitcoin ATM at the D on Fremont Street.

    Also heard about a strip club here that takes crypto for lapdances. Vegas seems like a pro-crypto town.
     

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  19. Richard Sharpe

    Richard Sharpe Well-Known Member

    Indeed, Vegas is filled with all kinds of Pros :rolleyes::D
     
  20. tc_pattaya

    tc_pattaya Legendary Member

    https://www.reuters.com/article/tha...ans-banks-from-cryptocurrencies-idUSL4N1Q234I
     
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