Cryptocurrencies

oftenreading

It’ll probably come back. That seems to be what these do 

Thoughts_Arrive

Why Bitcoin when you can PayPass?

my2hands

Crypto is massively manipulated. Good luck

NewJPage

NewJPage said:

Doesn't Ron Paul want us to go back to the gold standard?

oftenreading

Interesting article about plans for a Crypto Utopia in Puerto Rico. 

I have some trouble believing the “benevolent capitalists” argument, but they probably don’t intend that to be taken seriously. 

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

Edit: I posted the link when I was partly through the article. Having read it all now, I still think it’s interesting. I also now think this sounds suspiciously like a cult. Charismatic leader, faux spiritualism?
 

buck502000

time to buy

my2hands

buck502000 said:

time to buy

http://m.scmp.com/business/banking-finance/article/2132009/china-stamp-out-cryptocurrency-trading-completely-ban

my2hands

People buying crypto with credit cards?

This is not going to end well

buck502000

my2hands said:

buck502000 said:

time to buy

http://m.scmp.com/business/banking-finance/article/2132009/china-stamp-out-cryptocurrency-trading-completely-ban

This makes me want to invest even more.

Halifax2TheMax

buck502000 said:

my2hands said:

buck502000 said:

time to buy

http://m.scmp.com/business/banking-finance/article/2132009/china-stamp-out-cryptocurrency-trading-completely-ban

This makes me want to invest even more.

Sure, take your chances and let us know how you make out.

https://www.cnbc.com/2018/02/06/bitcoin-price-will-crash-to-zero-nouriel-roubini-says.html

Maybe wait until “0” to buy?

Gern Blansten

buck502000 said:

Gern Blansten said:

benjs said:

rgambs said:

unsung said:

Halifax2TheMax said:buck502000 said:

I read about a poor guy who had his assets froze when he tried to take 100K of BTC to buy a house.  

Interesting regarding filing taxes.

https://www.washingtonpost.com/news/the-switch/wp/2018/01/11/its-going-to-be-a-nightmare-some-bitcoin-investors-are-in-for-a-rocky-tax-season/

There are ways to hide your gains.  For the record I support this 100%.  The government took no risk when people invested, it shouldn't reap any reward.

I will pay my 15% extortion fee though since I just withdrew some to buy a house.  I have to have it documented in this current rigged system.

 And this is why it will crash and burn.
Even it's biggest proponents think of it as a stock market investment.
"Withdrew" "take out", the language is telling.  
Nobody's buying a house with bitcoins, they are cashing out on their bitcoins.  It's an investment built on nothing, and it will collapse.

Kudos to those who got in at the right time and, more importantly, get out at the right time.  It isn't real money until you can spend it.

Block chain powered crypto currencies have far from matured at this point, and I think it’s preemptive to say whether it has legs or not. I don’t think anyone has found the “special sauce” that makes a person think of a crypto currency equivalently to a physical currency, but that doesn’t mean it’s impossible.

In addition, people are testing the technology in other ways, such as secure asset trading for non-currencies. Kodak just launched an image rights management platform powered by block chains to counter rampant usage of copyrighted images by photographers without consent. I’ve read articles about a company working with Ticketmaster so that when tickets are resold, cuts would get pro-rated back to the original stakeholders (venues, promoters, etc), and the legal world where contract management is everything will likely be massively impacted by this.

Back to the currency side, I don’t know whether Bitcoin itself will win the war (over the past year they dropped from the 80% range market share to 30% range on crypto transactions supposedly), but the providers of the technology are well aware of the hurdles you mention (accessibility, transferability, mainstream understanding and buy-in), and would be foolish if they weren’t already trying to overcome them.

Reminds me of Amway....or a ponzi scheme....can't figure out which yet.

Also reminds me of the guy who made millions selling pet rocks.

Don’t be a sad no coiner.  Electricity, travel by plane, the internet, all of these things seemed like voodoo at first. But now, they are a part of everyday life.  Cryptocurrency will be used behind the scenes by the people who run the world. Either get on the rocket or don’t.  Cheer up.

yeah...

Bentleyspop

Bitcoin  now below  6K

Gern Blansten

Lots of people making money on the backs of the middle class.  People were buying this shit on credit cards.

Halifax2TheMax

Is Bitcoin insured? Like FDIC type insured? Or is it like a stock, buyer beware?

Gern Blansten

Halifax2TheMax said:

Is Bitcoin insured? Like FDIC type insured? Or is it like a stock, buyer beware?

buyer beware

my2hands

Crypto is manipulated  junk and will lead to a financial crisis. 

mickeyrat

uh huh....

https://www.reuters.com/article/us-bitcoin-cyber/u-s-uk-government-websites-infected-with-crypto-mining-malware-report-idUSKBN1FV0VO?utm_campaign=trueAnthem:+Trending+Content&utm_content=5a8093e004d3011550034859&utm_medium=trueAnthem&utm_source=facebook

tempo_n_groove

https://www.wsj.com/articles/rural-washington-is-a-hot-spot-for-bitcoin-miners-1518354001
They are coming stateside!

unsung

Crypto has allowed me to sign a contract on a new house.

mickeyrat

unsung said:

Crypto has allowed me to sign a contract on a new house.

thats good. awesome in fact.
 I am guessing, that you didn't highjack other peoples shit to mine for coin.

unsung

Not really following you, I have never mined though, it really never interested me.

mickeyrat

unsung said:

Not really following you, I have never mined though, it really never interested me.

hacking systems to run background mining ops. increasing power consumption, which is paid for by others

unsung

Far beyond my skillset.

mickeyrat

unsung said:

Far beyond my skillset.

fwiw I dont believe you'd engage in criminal activity to begin with despite how you feel about some laws on the books.

Halifax2TheMax

mickeyrat said:

unsung said:

Far beyond my skillset.

fwiw I dont believe you'd engage in criminal activity to begin with despite how you feel about some laws on the books.

C’mon, everyone cheats on their taxes, some more than others.

mickeyrat

Halifax2TheMax said:

mickeyrat said:

unsung said:

Far beyond my skillset.

fwiw I dont believe you'd engage in criminal activity to begin with despite how you feel about some laws on the books.

C’mon, everyone cheats on their taxes, some more than others.

you do enough that it rises to criminal prosecution or just civil fines and penalties?

unsung

Halifax2TheMax said:

mickeyrat said:

unsung said:

Far beyond my skillset.

fwiw I dont believe you'd engage in criminal activity to begin with despite how you feel about some laws on the books.

C’mon, everyone cheats on their taxes, some more than others.

I prefer to retain as much as hard earned money as possible and will use every rule that I can to my favor in order to do so.  It is my money, not the government’s.

CM189191

unsung said:

Halifax2TheMax said:

mickeyrat said:

unsung said:

Far beyond my skillset.

fwiw I dont believe you'd engage in criminal activity to begin with despite how you feel about some laws on the books.

C’mon, everyone cheats on their taxes, some more than others.

I prefer to retain as much as hard earned money as possible and will use every rule that I can to my favor in order to do so.  It is my money, not the government’s.

If you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something — there are a whole bunch of hardworking people out there. 

If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.

The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together. There are some things, just like fighting fires, we don’t do on our own. I mean, imagine if everybody had their own fire service. That would be a hard way to organize fighting fires.

So we say to ourselves, ever since the founding of this country, you know what, there are some things we do better together. That’s how we funded the GI Bill. That’s how we created the middle class. That’s how we built the Golden Gate Bridge or the Hoover Dam. That’s how we invented the Internet. That’s how we sent a man to the moon. We rise or fall together as one nation and as one people...You’re not on your own, we’re in this together.

unsung

Yeah, everyone took the risk, sure.  

PJ_Soul

Halifax2TheMax said:

mickeyrat said:

unsung said:

Far beyond my skillset.

fwiw I dont believe you'd engage in criminal activity to begin with despite how you feel about some laws on the books.

C’mon, everyone cheats on their taxes, some more than others.

Are you being serious?