So, you want to trade Bitcoin

futures2015

Member Who Talks (A Lot!)
May 2, 2015
7,346
7,224
0
73
I am fascinated by this. But also wary. Ethereum seems the most stable, but that’s a relative term.
When I last checked a few days ago, Ethereum was about $300 - Ripple was about $2/3

I plan to buy some of each and wave goodbye to my money when I press the [Submit] key.

With the volatility, who knows, maybe I'll be a cryptocurrency billionaire next week.
 
  • Like
Reactions: acreativeusername

windycityhorn

Member Who Talks (A Lot!)
Jun 11, 2012
3,570
6,604
0
When I last checked a few days ago, Ethereum was about $300 - Ripple was about $2/3

I plan to buy some of each and wave goodbye to my money when I press the [Submit] key.

With the volatility, who knows, maybe I'll be a cryptocurrency billionaire next week.
Who am I to judge? I pay $10 a month to argue with fools I’ve never met about politics.
 

acreativeusername

Member Who Talks (A Lot!)
Nov 27, 2016
3,306
6,405
0
When I last checked a few days ago, Ethereum was about $300 - Ripple was about $2/3

I plan to buy some of each and wave goodbye to my money when I press the [Submit] key.

With the volatility, who knows, maybe I'll be a cryptocurrency billionaire next week.
I bought some stock in a Bitcoin startup company. The penniest of the penny stocks. Same idea as you, figured it was money down the tubes but on the off chance it blows up...
 
  • Like
Reactions: futures2015

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0
The concept is brilliant. And the technology, block chain, is potentially a game changer. But it’s hard to trust money that you can’t spend when the lights go out.
Bitcoin is the biggest speculative bubble in world history. I thought you were a financial conservative!?
 

futures2015

Member Who Talks (A Lot!)
May 2, 2015
7,346
7,224
0
73
I thought about doing the same. I think those are much safer than any current Bitcoin company opportunities. I’d wager those pay off eventually
2 of the 3 already have. I bought a 1,000 shares each. Set a limit order for $1 of profit. LXRP and FFRMF triggered in Dec.

I'm still holding PTGEF - current price $0.07 (I bought at $0.36).
 
  • Like
Reactions: acreativeusername

windycityhorn

Member Who Talks (A Lot!)
Jun 11, 2012
3,570
6,604
0
Bitcoin is the biggest speculative bubble in world history. I thought you were a financial conservative!?
That’s why I don’t have any money in it. But the concept is brilliant. It’s money that’s not tied to a bank or a nation. So will it work? I honestly don’t know.

Money works because we all agree it does. But your dollar bill has no intrinsic value. You can’t exchange it for gold. If the United States ceased to exist today it would be worthless. The promise of bitcoin is, banks and countries can fail but bitcoin will remain.
 

The_Major

Member Who Talks (A Lot!)
Apr 2, 2012
14,540
7,099
0
Austin, Texas
That’s why I don’t have any money in it. But the concept is brilliant. It’s money that’s not tied to a bank or a nation. So will it work? I honestly don’t know.

Money works because we all agree it does. But your dollar bill has no intrinsic value. You can’t exchange it for gold. If the United States ceased to exist today it would be worthless. The promise of bitcoin is, banks and countries can fail but bitcoin will remain.
Who made the promise?
 
  • Like
Reactions: scout3dave

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0
That’s why I don’t have any money in it. But the concept is brilliant. It’s money that’s not tied to a bank or a nation. So will it work? I honestly don’t know.

Money works because we all agree it does. But your dollar bill has no intrinsic value. You can’t exchange it for gold. If the United States ceased to exist today it would be worthless. The promise of bitcoin is, banks and countries can fail but bitcoin will remain.
Oops! I thought I was responding to Futures.

I’m sure the unknown Bitcoin inventor is laughing all the way to the bank. At least with the infamous tulip bubble you actually got a tulip. With Bitcoin you have fake money created out of thin air through “mining” on powerful computers that consume huge amounts of energy. I can’t believe so many people have fallen for this.
 

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0
I hear the Chinese are going to be backing ECoin
https://www.google.com/amp/s/amp.businessinsider.com/china-eliminates-all-cryptocurrency-trading-2018-2

China is moving to eliminate all cryptocurrency trading with a ban on foreign exchanges

"Overseas transactions and regulatory evasion have resumed … risks are still there, fueled by illegal issuance, and even fraud and pyramid selling," the article said.

ICOs are a cryptocurrency-based fundraising method that has become popular with startups to raise money. Some industry experts have warned that many ICOs are fraudulent, and operate in the gray area as they remain unregulated.
 

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0
When I last checked a few days ago, Ethereum was about $300 - Ripple was about $2/3

I plan to buy some of each and wave goodbye to my money when I press the [Submit] key.

With the volatility, who knows, maybe I'll be a cryptocurrency billionaire next week.
Well, knock me down. I never figured you as a volatility guy.

https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/56A89E62-0B5B-11E8-B6E2-6E31981E037F

Bitcoin has had a wild ride. And millennials have decided to go along for it.

Bitcoin BTCUSD+1.46% peaked near $20,000 per coin in 2017 but is notoriously volatile: Its prices fell below $7,000 in the past few days, losing more than $100 billion in valuation since last week. Other cryptocurrencies are not faring well, either: The overall cryptocurrency market cap has fallen more than 50% since early January, according to CoinDesk, plunging from $830 billion to $366 billion.
 

windycityhorn

Member Who Talks (A Lot!)
Jun 11, 2012
3,570
6,604
0
Who made the promise?
There’s the rub. No one knows who invented bitcoin. Who’s guaranteeing it? What happens when it gets stolen, which happened on a massive scale a few years back?

Again, I don’t own bitcoin. I’m just saying, I get why people are attracted to it.
 

The_Major

Member Who Talks (A Lot!)
Apr 2, 2012
14,540
7,099
0
Austin, Texas
There’s the rub. No one knows who invented bitcoin. Who’s guaranteeing it? What happens when it gets stolen, which happened on a massive scale a few years back?

Again, I don’t own bitcoin. I’m just saying, I get why people are attracted to it.
They are fools. If government currency collapses what do they believe will happen to the internet and the companies that run it who depend on government currency?
 

scout3dave

Member Who Talks (A Lot!)
Oct 29, 2008
8,380
2,932
0
There’s the rub. No one knows who invented bitcoin. Who’s guaranteeing it? What happens when it gets stolen, which happened on a massive scale a few years back?

Again, I don’t own bitcoin. I’m just saying, I get why people are attracted to it.
The only reason I can see people using bitcoin is to launder money. Otherwise I can see no purpose to ever use it.

That being said if you like gambling, as Futures said, why not drop a few grand on a crap shoot.
 

futures2015

Member Who Talks (A Lot!)
May 2, 2015
7,346
7,224
0
73
Mark Zuckerberg, the world's central banker?

Within the last week, Facebook announced a ban on all advertisements about bitcoin, initial coin offerings and other cryptocurrencies.

Facebook (along with Google) virtually controls Internet advertising. So their policies have enormous influence over consumer behavior.

Banning ICO advertisements on its platform, for example, will certainly have a negative impact on the amount of money flowing into new ICO’s.

Facebook said it instituted this ban to “protect its users” from financial scams in the cryptocurrency sector. At least, that’s the “official” reason.

And in fairness, there is a ridiculous amount of fraud out there -- countless scammy ICO’s and appallingly stupid tokens and coins.

But it’s also possible that Facebook’s main driver in this move goes beyond its desire to protect the well-being of its nearly 2 billion users.

It was only a month ago that Mark Zuckerberg said Facebook would study encryption and the blockchain to “see how best to use them in our services.”

And one of the speakers at the crypto conference that one of our team members attended in New York City yesterday confirmed Facebook is investing a ton of capital into blockchain right now.

It stands to reason that Facebook’s decision to ban crypto advertisements may be rooted in eliminating its own competition, i.e. Facebook may be working on its own proprietary blockchain and cryprocurrency to deploy on its own platform.

One possibility is that Facebook could adopt a similar model to Steemit – a decentralized social network that operates on the blockchain.

It’s up to Steemit’s users to police the site, not a central authority. And the platform rewards its users for good content with small amounts of cryptocurrency and penalizes users for spam and “fake news.”

This would solve a huge problem for Facebook, which has already come under fire from governments across the world for not doing enough to moderate user content including “fake news,” “hate speech,” etc.

Facebook has already hired an army of content moderators, but this is barely been able to make a dent in solving the company’s problem.

So adopting a model like Steemit ,which rewards users with specialized crypto could certainly make sense.

This wouldn’t be the company’s first foray into the arena, either.

When social games like Farmville were popular (maybe they still are, who knows), gamers could pay for e-goods with an in-game currency. Then Facebook created its own currency for people to trade in and out of Farmville and other games.

A full-blown Facebook Token is the logical next step.

Given Facebook’s worldwide dominance, its tokens would have the potential to become enormously popular, practically overnight, and used in everyday transactions in the real world.

The big hope with Bitcoin is that it may one day disrupt conventional fiat currencies. Maybe so. But Bitcoin still has a steep adoption curve before it becomes truly disruptive.

Facebook Tokens, on the other hand, would be adopted by hundreds of millions of people right from the start.

You’d be able to buy and sell products in Facebook Tokens, send money and remittances, pay contract employees overseas, and engage in all sorts of cross-border transactions.

This would essentially make Mark Zuckerberg the world’s central banker… the one person with control over the first truly global currency.

Given that he already controls the #1 media source in the world and has substantial influence over consumer behavior, launching a Facebook Token would solidify his position as the most powerful person on the planet.
 

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0
Comment from an expert on pump and dump.

https://www.express.co.uk/finance/city/917836/bitcoin-price-Wolf-of-Wall-Street-Jordan-Belfort-increase-cryptocurrency-value-update/amp

Belfort, whose Stratton Oakmont made millions using a ‘pump and dump’ operation before he was found guilty of fraud and crimes in connection with stock market manipulation, claims that cryptocurrency is a similar scheme, in an interview with The Street.

Now a motivational speaker, the Wolf of Wall Street is a staunch critic of bitcoin and cryptocurrency, claiming: “the money has been made in bitcoin already.”

He, however, said some scammers will create the “illusion of prosperity” around bitcoin in order to maintain an interest in new cryptocurrencies.
 

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0
A big player seems to be behind the recent Bitcoin price increase.

https://www.investopedia.com/news/bitcoin-price-retreats-10k-mysterious-buyer-emerges/

In the past, detractors have noted that despite bitcoin’s claims of being decentralized, its price is susceptible to being manipulated by "bitcoin whales," or investors and traders who hold large stashes of the virtual currency.

Read more: Bitcoin Price Retreats From $10K As Mysterious Buyer Emerges | Investopedia https://www.investopedia.com/news/bitcoin-price-retreats-10k-mysterious-buyer-emerges/#ixzz57I7IcSz6
Follow us: Investopedia on Facebook
 

Shane3

Member Who Talks (A Lot!)
Feb 17, 2015
14,095
4,463
0
This top hedge fund guy sums up my opinion of bitcoin.

https://www.thestreet.com/amp/story/14496027/1/bitcoin-prices-slide-wednesday-for-a-number-of-reasons.html

One of the biggest hedge funds in the world, Paul Singer's Elliott Management, has dropped the hammer on bitcoin: "This is not just a bubble. It is not just a fraud. It is perhaps the outer limit, the ultimate expression, of the ability of humans to seize upon ether and hope to ride it to the stars," the fund wrote in a January note to clients.


Elliott called cryptocurrencies "one of the most brilliant scams in history." Elliott also added that cryptocurrencies are playing on the marketing power of financiers and tech junkies alike, plus "others who love the idea of buying a black box (which is obviously empty) for the price of a Kia and dreaming that it will turn into a Mercedes."
 
  • Like
Reactions: TexasPalladin