Cryptocurrencies

rgambs

unsung said:

Have you asked anything or do you just want to inject your opinions?

I asked a few times, without sarcasm or sass, why there isn't concern that it will collapse due to the fact that it isn't actually being used as a currency.
I understand there's a tremendous potential in blockchain tech, but doesn't the lack of real world practical value just make this an investment bubble that could collapse at any moment?  

unsung

But where is it not being used as a currency?  That is what I am talking about, you are inserting an opinion that is not true and it comes across as political.

There are many cryptos other than btc.  Some are junk, just like the regulated stock market.

Using the term bubble shows a lack of understanding in it.  Bubbles exist, yes.  Many are artificially created by government, is it so bad then?

Comparing it to tulips is another one of those signs that the person has no idea what they are talking about.

Jan 1 I am selling off enough to not worry about money much anymore.  That tulip mania worked for me.  It could work for many others if people took the time to research and understand instead of what they see on Bloomberg or hear from Jamie Dimon.

unsung

There is always concern about a collapse with any system that you put your money into, the difference is perception.

buck502000

Ripple is worth more than a USD.

buck502000

If people pay attention here, they be able to make some money.  

unsung

Ripple is garbage.  The banks own it and it is just as manipulated as the dollar.  Be careful.  I don't own any.

That said my bud bought a ton at .02.  He is doing well.  YMMV.

buck502000

unsung said:

Ripple is garbage.  The banks own it and it is just as manipulated as the dollar.  Be careful.  I don't own any.

That said my bud bought a ton at .02.  He is doing well.  YMMV.

I’ll be selling as soon as it hits coinbase. 

unsung

Well, wait for the pump.

my2hands

unsung said:

But where is it not being used as a currency?  That is what I am talking about, you are inserting an opinion that is not true and it comes across as political.

There are many cryptos other than btc.  Some are junk, just like the regulated stock market.

Using the term bubble shows a lack of understanding in it.  Bubbles exist, yes.  Many are artificially created by government, is it so bad then?

Comparing it to tulips is another one of those signs that the person has no idea what they are talking about.

Jan 1 I am selling off enough to not worry about money much anymore.  That tulip mania worked for me.  It could work for many others if people took the time to research and understand instead of what they see on Bloomberg or hear from Jamie Dimon.

If you REALLY believe in BTC and blockchain you wouldn't dump BTC until it hit $50-$100k... which theoretically it could

But realistically, I think you're making a good decision. A bird in the hand as they say...take the dough and run brother

benjs

unsung said:

benjs said:

unsung said:

tempo_n_groove said:

unsung said:

How much crypto do you have?


The fees are high right now but they are working on Lightning which should reduce them.  

Is there a company that puts holdings in all of them?

Basically I'd like to put money in one place and let them take care of it.

Anything out there?

It is generally considered unwise to do this because you don't control your private keys.

Do you say this from fear of government intervention, or just the fact that one can't vouch for the security of these 'holding' companies? 

Is this a serious question or are you trying to bait me?

Because in this thread I am trying to not play your politics.

Unsung, my apologies for how that came out, I meant it seriously. I am interested in what pushes people towards or away from a novel idea, especially when there are multiple versions of it (various coins and storage methods). As a forgetful person, I’ve also long feared the reality that if you own coins and forget their keys, you lose access to your investment. That’s got to be a real concern for the mainstream.

unsung

I want to respond, and of course I will, but I am really busy today and this topic requires the use of a real keyboard instead of mobile.  Patience please.

CM189191

unsung said:

Anyone that thinks bitcoin is secret doesn't know crypto.  Bitcoin is not secret.  Pay your govt extortion and be done with it.  

The whole tied to the alt right is just ridiculous.  Guess what else they use, CASH and CREDIT.  They probably use telephones too.

Are you saying you're evading taxes?

Thought this an interesting analysis on bitcoin.  Also highlights the importance of currency regulation.  If you're in the black, good on you.  Sounds like you better get out before the bubble inevitably bursts, though.

http://www.businessinsider.com/economist-jim-rickards-bitcoin-versus-gold-price-manipulation-2017-12

How many bitcoin sellers are putting  gains on their tax returns?  If you don't, you're a felon. That's a felony.  The IRS will track you down. They have ways of doing it. People — Americans who had offshore bank accounts in Switzerland — prior to five or six years ago — thought the IRS would never find them either. And they did.

They put the burden of proof on you. They say, “No, we estimate your taxes by the following, prove it's not.” The burden of proof is on you. So they’re going to come into all these exchanges, they’re going to request all the books and records. The exchanges are going to give them up, or they’ll be shut down, or they’ll be frozen. Remember even if you have bitcoin exchange you still have to — you have points of connection with the dollar payment system or the euro payment system. You got to get the money in to sell the people the bitcoin. They can all be shut down. They can all be interdicted. The thing — all these things can be frozen. The IRS is all the authority they need. So between the SEC looking at initial coin offerings, the IRS looking at tax evasion, the FBI looking at criminality.

unsung

Good Lord, can't you read?

brianlux

unsung said:

That's all pretty stupid.  

Brush it off like dandruff, huh?

unsung

Pretty much, since everyone right of Karl Marx is a Nazi anymore.

brianlux

unsung

Leftist worries < paying off my mortgage.

brianlux

Why I don't buy the Libertarian line of crap:  "It's all about me."

tbergs

unsung said:

Leftist worries < paying off my mortgage.

Wait, you have a mortgage? Does that mean you needed the support of a government loan?

unsung

I always wondered why there were people that if they don't like what they hear why they don't tune in another channel, don't like what they see on TV to turn it off, or don't have anything useful to say in a thread to skip it.