Cryptocurrencies

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  • rgambs
    rgambs Posts: 13,576
    I'm waiting on a serious explanation of how it will hold value if nobody actually uses it as currency.  Won't confidence and demand evaporate at some point?

    I know that if I had jumped on this wagon years ago, I would sure as shit be jumping off now.
    Monkey Driven, Call this Living?
  • unsung
    unsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    buck502000 said:
    Can we talk about Crypto-currencies seriously? I have some BTC- XRP- XVG- DGB- XLM and RDD coins - half is in Bitcoin - hope to sell the others to increase my Bitcoin hodl. 


    Of those I own BTC and XVG.  I dumped XLM and XRP.  Digibyte and reddcoin were two that I avoided.

    I am a big fan of ZEN and PIVX and I just picked up a lot of PIRL.  I try to get into ones that are more limited with under 100M.
  • buck502000
    buck502000 Birthplace of GIBSON guitar Posts: 8,951
    XVG - Verge - kinda went down - I was thinking of picking up a bit more.  I still like XRP - Ripple - as those are the two I plan on keeping for the next few months.  I only have a small bit in alt coins - maybe $1,000 - I might check out the PIVX.
  • my2hands
    my2hands Posts: 17,117
    Why would anyone actually spend a crypto? Everyone buying it is for investment, not to actually spend it as currency

    I have a feeling this won't end well 
  • my2hands
    my2hands Posts: 17,117
    unsung said:
    Bitcoin $15k.
    It was $19k last week
  • my2hands
    my2hands Posts: 17,117
    tempo_n_groove said:
    rgambs said:
    I just don't see how the value won't collapse, statistically almost nobody is using it as currency, it is only being used as an investment backed by nothing. 
    It's the ultimate fiat currency, which is why I'm confused it's been so largely embraced by the alt-right and libertarians.

    Microsoft, Intel and JP morgan are a few of the big business backers too.

    I wonder if this will be like the Lotus bubble?  Everybody should research the Lotus Bubble.
    Do you mean Tulip bubble?
  • buck502000
    buck502000 Birthplace of GIBSON guitar Posts: 8,951
    my2hands said:
    unsung said:
    Bitcoin $15k.
    It was $19k last week
    it was 8k around Thanksgiving
  • my2hands
    my2hands Posts: 17,117
    And it was $2 a few years ago... if you got in then, good for you, and dump that shit lol
  • rgambs
    rgambs Posts: 13,576
    my2hands said:
    And it was $2 a few years ago... if you got in then, good for you, and dump that shit lol
    Yeah, a very astute move 5 years ago, buying now that it's known in the mainstream and traded like stock, that just seems stupid. 
    I'd be selling and walking away ahead.
    Monkey Driven, Call this Living?
  • my2hands
    my2hands Posts: 17,117
    How many ICO's have there been and will there be? How many coins are out there now? How many average Joe's are investing in something they don't understand? This sure seems like a bubble to me, but im no expert so don't listen to me

    Blockchain technology on the other hand could be a different story as it gets utilized beyond crypto currencies... but again, I don't know shit lol

    When I see a small iced tea company switch to a blockchain company with no background or hardware, and its stock blows up because of that switch, I think it's safe to say we are in major bubble territory

    As a matter of fact, I think a crypto crash will likely cause a major problem in the US/world economy in the not so distant future. Or maybe not


  • unsung
    unsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    my2hands said:
    unsung said:
    Bitcoin $15k.
    It was $19k last week
    It was $12k the week before that.

    Satoshi created bitcoin to test the faithful.

  • unsung
    unsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    my2hands said:
    And it was $2 a few years ago... if you got in then, good for you, and dump that shit lol
    I am very well diversified.
  • unsung
    unsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    my2hands said:
    How many ICO's have there been and will there be? How many coins are out there now? How many average Joe's are investing in something they don't understand? This sure seems like a bubble to me, but im no expert so don't listen to me

    Blockchain technology on the other hand could be a different story as it gets utilized beyond crypto currencies... but again, I don't know shit lol

    When I see a small iced tea company switch to a blockchain company with no background or hardware, and its stock blows up because of that switch, I think it's safe to say we are in major bubble territory

    As a matter of fact, I think a crypto crash will likely cause a major problem in the US/world economy in the not so distant future. Or maybe not


    It is really a fraction of what the tech or housing bubbles were.

    And the tulips comparison makes no sense.  Tulips are infinite, many cryptos are not.
  • buck502000
    buck502000 Birthplace of GIBSON guitar Posts: 8,951
    I am going to pick up some more Ripple - rumor has it that it will be added to coinbase next month. 
  • my2hands
    my2hands Posts: 17,117
    Satoshi is a god now? Don't bite the apple! lol
  • unsung
    unsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    He is probably dead.  I think he was Hal Finney.
  • unsung
    unsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    buck502000 said:
    I am going to pick up some more Ripple - rumor has it that it will be added to coinbase next month. 
    I am not a fan but a friend of mine has almost 100k.
  • my2hands
    my2hands Posts: 17,117
    https://www.bloomberg.com/view/articles/2017-12-27/bitcoin-is-an-implausible-currency

    I tend to agree with this article
  • unsung
    unsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    edited December 2017
    How much crypto do you have?


    The fees are high right now but they are working on Lightning which should reduce them.  
  • buck502000
    buck502000 Birthplace of GIBSON guitar Posts: 8,951
    I lied about adding some more ripple.  It was more ripple and verge. ;) 

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