Author Topic: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion  (Read 350417 times)

sherr

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1250 on: March 27, 2019, 06:33:27 AM »
Holy cow. Does anyone anywhere actually take that word vomit seriously?

Edit: on second thought, I agree that this is clearly a troll account.

forgerator

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1251 on: April 02, 2019, 05:40:55 PM »
How do you like that short position now with the rise of flaming green 25% di$do from this morning? 😁

Today [spam link removed] btc have 3946 as previous support become resistance (classic support and resistance ). This level also as Fibonacci 618 resistance.
If this level able to hold bullish , it will confirm bearish with a new lower target at 3807 (fibonacci 1.618)

This pattern still unconfirmed as bullish 3 drives, and it will complete as bullish 3 drives once we reach 3807 with target at 3982

*I already close my short at 3860, now i wait for new short around 3946 with target at 3807.
« Last Edit: April 03, 2019, 08:17:57 AM by arebelspy »

erjkism

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1252 on: May 13, 2019, 06:03:54 PM »
bitcoin is back? Is this a good time to get in?

Telecaster

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1253 on: May 13, 2019, 08:39:18 PM »
bitcoin is back? Is this a good time to get in?

No and no.   

Stimpy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1254 on: May 14, 2019, 07:33:34 AM »
bitcoin is back? Is this a good time to get in?

It's back... to the 8k range.... still down over 50% from it's all time high.... So really, no, it's not.

Per a friend: "It's always a good time to get in, it's going to 200k a coin!!!!!!!@#$@#!$@@!@"   Me personally, I enjoy a good gamble here and there, BUT I want a chance to actually win.  How do you value bitcoin?  Answer: You can't.   So if you want to take a gamble with a real chance it's going to go to zero, sure get in.  Me, I think I'll stick to day trading stocks, it's safer.....   /Sarcasm

BobTheBuilder

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1255 on: May 14, 2019, 03:25:42 PM »
I mined 0.2 Ether out of curiosity. Let's see were the hype train number three goes. Remind to convert that into an extra ETF contribution once Ether hits 500€ /560$ again so I get the satisfaction of hitting a round number of 100€ for increasing my ETF contributions ahead of schedule.


onecoolcat

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1256 on: May 15, 2019, 10:45:03 PM »
I mined 0.2 Ether out of curiosity. Let's see were the hype train number three goes. Remind to convert that into an extra ETF contribution once Ether hits 500€ /560$ again so I get the satisfaction of hitting a round number of 100€ for increasing my ETF contributions ahead of schedule.

Just set an alarm for Tuesday.

PDXTabs

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1257 on: May 15, 2019, 11:29:30 PM »
bitcoin is back? Is this a good time to get in?

It's back... to the 8k range.... still down over 50% from it's all time high.... So really, no, it's not.

That depends when you bought. My house got two of them for less than $500 each. Of course, we used half of it to actually buy stuff online.

GuitarStv

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1258 on: May 16, 2019, 07:40:15 AM »
Yeah, by that logic Bre-X was a stunning investment too.  As long as you managed to use your crystal ball to buy at exactly the right time and sell at exactly the right time.  Easy peasy.

PDXTabs

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1259 on: May 16, 2019, 08:49:19 AM »
Yeah, by that logic Bre-X was a stunning investment too.  As long as you managed to use your crystal ball to buy at exactly the right time and sell at exactly the right time.  Easy peasy.

That sort of volatility is also a pretty bad feature in a currency.

GuitarStv

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1260 on: May 16, 2019, 10:06:09 AM »
I thought we established long ago that Bitcoin (and all the clones) are terrible for use as a currency.

PDXTabs

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1261 on: May 16, 2019, 10:36:12 AM »
I thought we established long ago that Bitcoin (and all the clones) are terrible for use as a currency.

How long have they been around? I just got done reading David Graeber's Debt and I have been convinced that new financial instruments often have wildly fluctuating values. Just because cryptocurrency is a shit currency today doesn't mean that will hold true in 100 years.

I still prefer ETH and BTC to Venezuela Bolívars, which is to say that everything is relative.

Of course, that still doesn't make them a good investment.

GuitarStv

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1262 on: May 16, 2019, 10:49:57 AM »
Fair enough.  I guess we'll see what another decade of bitcoin brings.

Telecaster

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1263 on: May 16, 2019, 10:54:04 AM »
I thought we established long ago that Bitcoin (and all the clones) are terrible for use as a currency.

How long have they been around? I just got done reading David Graeber's Debt and I have been convinced that new financial instruments often have wildly fluctuating values. Just because cryptocurrency is a shit currency today doesn't mean that will hold true in 100 years.

I still prefer ETH and BTC to Venezuela Bolívars, which is to say that everything is relative.


I do too, but that's a pretty low bar.   At its peak BTC went from $20,000 down to about $4,000.   That's some impressive hyperinflation so matter how you slice it. 

There have been some efforts to create stable coins pegged to a fiat currency, which would solve a lot of problems, except for the problem that you are pegged to a fiat currency.  And of course, the peg can break.     



runbikerun

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1264 on: May 17, 2019, 02:53:32 AM »
I thought we established long ago that Bitcoin (and all the clones) are terrible for use as a currency.

How long have they been around? I just got done reading David Graeber's Debt and I have been convinced that new financial instruments often have wildly fluctuating values. Just because cryptocurrency is a shit currency today doesn't mean that will hold true in 100 years.

I still prefer ETH and BTC to Venezuela Bolívars, which is to say that everything is relative.

Of course, that still doesn't make them a good investment.

In fairness, comparing the best possible cryptocoins to the single worst case of hyperinflation in recorded history doesn't exactly give an accurate picture. The Turkish lira had a horrific 2018, to the extent that the IMF almost came in and the economy came quite close to melting down, and it still had a better year than Bitcoin. If you live in a country with a reasonably diversified economy and a competent system of government, or if you have access to the currency of such a country, you're better off with that than with any cryptocoin.

PDXTabs

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1265 on: May 17, 2019, 10:23:14 AM »
In fairness, comparing the best possible cryptocoins...

They're the ones I own. Well, that and a tiny bit of XMR. All of my ETH and XMR was mined, and all of my BTC was purchased to use in commerce.

thenextguy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1266 on: May 31, 2019, 09:09:18 PM »
If anyone is interested in learning about the use cases for blockchain technology in business, you might find this presentation from Paul Brody interesting: https://www.youtube.com/watch?v=DxyqBcAxUg0&

Brody is the blockchain lead for Ernst & Young (EY). EY recently released an open source protocol for making private transactions on the public Ethereum blockchain. You can read about that here if you're interested: https://finance.yahoo.com/news/ey-open-sources-nightfall-code-142024265.html


thenextguy

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Paul990

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1268 on: June 19, 2019, 12:53:05 PM »
There have been some efforts to create stable coins pegged to a fiat currency, which would solve a lot of problems, except for the problem that you are pegged to a fiat currency.  And of course, the peg can break.   
The peg can't break as long as the stablecoin is 100% backed.
Fiat-backed stablecoins are not the only ones, there are stablecoins pegged to commodities too

Telecaster

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1269 on: June 19, 2019, 02:09:33 PM »
There have been some efforts to create stable coins pegged to a fiat currency, which would solve a lot of problems, except for the problem that you are pegged to a fiat currency.  And of course, the peg can break.   
The peg can't break as long as the stablecoin is 100% backed.
Fiat-backed stablecoins are not the only ones, there are stablecoins pegged to commodities too

It raises the question though, if the stablecoin is 100% backed, what do you need the stablecoin for?   It raises another question, who makes sure the backing is really there and available?  And is it even really backed?  For example, Tether states “no guarantee any right of redemption or exchange of Tethers by us for money.”   So it is backed, unless it isn't. 

And stablecoin pegs have broken in the past. 

If you want a decentralized ledger, that's a good reason for blockchain.  But you don't need a token for that. 

thenextguy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1270 on: June 19, 2019, 04:24:32 PM »
More news today.

https://blog.cloudflare.com/cloudflare-ethereum-gateway/

Basically you're going to have fully decentralized websites.

thenextguy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1271 on: June 19, 2019, 05:20:28 PM »

BattlaP

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1272 on: June 19, 2019, 06:44:49 PM »
It's easier to keep up when you realise that none of these 'pilot programs' never amount to any competitive advantage for the company and therefore never amount to anything.

Paul990

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1273 on: June 20, 2019, 04:45:15 AM »
There have been some efforts to create stable coins pegged to a fiat currency, which would solve a lot of problems, except for the problem that you are pegged to a fiat currency.  And of course, the peg can break.   
The peg can't break as long as the stablecoin is 100% backed.
Fiat-backed stablecoins are not the only ones, there are stablecoins pegged to commodities too

It raises the question though, if the stablecoin is 100% backed, what do you need the stablecoin for?   It raises another question, who makes sure the backing is really there and available?  And is it even really backed?  For example, Tether states “no guarantee any right of redemption or exchange of Tethers by us for money.”   

"If the stablecoin is 100% backed, what do you need the stablecoin for?"
If the major point of cryptos is that of representing an alternative to fiat money, then fiat-backed cryptos have indeed no major point.
Nonetheless Stablecoins offer some benefits vs. traditional money transactions.
They are the same benefits offered by all cryptos in general, due to the technology they are based on (blockchain).
As for a layman like me, the benefits I can reach an understanding of are these:

1. Transactions
In traditional business dealings, brokers, agents, and legal representatives can add significant complication and expense to what should otherwise be a straightforward transaction. There’s paperwork, brokerage fees, commissions, and any number of other special conditions which may apply.
One of the advantages of cryptocurrency transactions is that they are one-to-one affairs, taking place on a peer-to-peer networking structure that makes “cutting out the middle man” a standard practice. This leads to greater clarity in establishing audit trails, less confusion over who should pay what to whom, and greater accountability, in that the two parties involved in a transaction each know who they are.

2. More Confidential Transactions
Under cash/credit systems, your entire transaction history may become a reference document for the bank or credit agency involved, each time you make a transaction. At the simplest level, this might involve a check on your account balances, to ensure that sufficient funds are available. For more complex or business-critical transactions, a more thorough examination of your financial history might be required.
Another one of the great advantages of cryptocurrency is that each transaction you make is a unique exchange between two parties, the terms of which may be negotiated and agreed in each case. What’s more, the exchange of information is done on a “push” basis, whereby you can transmit exactly what you wish to send to the recipient – and nothing besides that.
This guards the privacy of your financial history and protects you from the threat of account or identity theft which is greater under the traditional system, where your information may be exposed at any point in the transaction chain.

3. Greater Access to Credit
Digital data transfer and the internet are the media facilitating the exchange in cryptocurrencies. So these services are potentially available to anyone who has a viable data connection, some knowledge of the cryptocurrency networks on offer, and ready access to their relevant websites and portals.
It’s estimated that there are currently 2.2 billion individuals across the world who have access to the Internet or mobile phones, but don’t currently have access to traditional systems of banking or exchange. The cryptocurrency ecosystem holds the potential to make asset transfer and transaction processing available to this vast market of willing consumers – once the required infrastructure (digital and regulatory) is put in place.

4. Individual Ownership
In a traditional banking or credit card system, you effectively turn stewardship of your funds over to a third party that can exercise the power of life or death over your assets. Accounts may be closed without notice for infringements of a financial institution’s Terms of Service – requiring you as the account holder to jump through hoops in order to get yourself back into the system.
Perhaps the greatest of all advantages of cryptocurrency is that unless you’ve delegated management of your wallet over to a third party service, you are the sole owner of the corresponding private and public encryption keys that make up your cryptocurrency network identity or address.

5. Strong Security
Once a cryptocurrency transfer has been authorized, it can’t be reversed as in the case of the “charge-back” transactions allowed by credit card companies. This is a hedge against fraud which requires a specific agreement to be made between a buyer and seller regarding refunds in the event of a mistake or returns policy.
Finally, the strong encryption techniques employed throughout the distributed ledger (blockchain) and cryptocurrency transaction processes are a safeguard against fraud and account tampering, and guarantors of consumer privacy.

https://blog.finjan.com/advantages-of-cryptocurrency/

Paul990

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1274 on: June 20, 2019, 04:53:31 AM »
It raises the question though, if the stablecoin is 100% backed, what do you need the stablecoin for?   It raises another question, who makes sure the backing is really there and available?  And is it even really backed?
Third party audits, on a regular basis, through an internationally renown auditing company, e.g. Bureau Veritas.

For example, Tether states “no guarantee any right of redemption or exchange of Tethers by us for money.”
The first two things to look at, in order to judge a x-backed stablecoin project, are a) independent auditing, and b) redemption option, the possibility of converting the coins for what they represent.
b) is particularly important in case of precious metals-backed Stablecoins.
Without a) and b), hands off

erjkism

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1275 on: December 26, 2020, 07:40:01 PM »
bitcoin is back? Is this a good time to get in?

No and no.

prescient advice, thank you

forgerator

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1276 on: December 26, 2020, 08:53:03 PM »
Nobody can predict the future. Any person who tells you not to buy something just because, don't know jack shit.
It's getting really tiring to see all the btc haters bash it when it's down, writing it off as a bubble that will burst to $0. Well it's been 12 yrs and it is showing no sign of slowing down.  One can continue to justify reason for not investing in it because its an energy drain, or it's a money laundering tool, or it has no intrinsic value, but guess what. The market thinks otherwise.

Syonyk

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1277 on: December 26, 2020, 09:47:48 PM »
I was wondering if this thread would pop back up again as BTC sails past $26k USD/BTC and keeps climbing...

It's getting really tiring to see all the btc haters bash it when it's down, writing it off as a bubble that will burst to $0.

If it's high, it's a speculative bubble, pyramid scheme (I guess that's a term you call things that you don't understand that people are making money on?), tulip mania, etc.  If it's low, well, laugh at all the losers who bought into it and put their life's savings in it back when it was $500 or $1000 or something...  And if it's stable, well, it's boring, why bother, can't get rich quick on something stable.  Of course, there's also the problem that it uses more energy than the world generates (based on extrapolating the current hash rate on GPU efficiency numbers), is only used for drugs and crime, and... honestly, I don't even read any articles on mainstream tech sites about Bitcoin, because it's utterly predictable and that's before you hit the comment threads.

I can't figure out how much is people being misinformed, how much is well informed dislike, and how much is just sour grapes.

Quote
The market thinks otherwise.

It certainly seems to.  And the "buy a few, put the keys somewhere safe, and forget about them..." approach to it seems to have been some pretty solid advice in years past.  I've certainly known people who dealt with plenty of bitcoin and just had itchy fingers, just couldn't stand the concept of putting some aside for a long hold.  Which, admittedly, does describe their more general approach to finances as well...

onecoolcat

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1278 on: December 27, 2020, 12:41:31 PM »
The real FOMO hasn't started yet.  I don't think we are anywhere near the 2017 level of awareness of the Bitcoin climb as of this writing.  I'm still very bullish on the short term future of Bitcoin.

forgerator

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1279 on: December 27, 2020, 04:31:35 PM »
The real FOMO hasn't started yet.  I don't think we are anywhere near the 2017 level of awareness of the Bitcoin climb as of this writing.  I'm still very bullish on the short term future of Bitcoin.

Correct. Based on the 4 year boom/bust btc cycle this is equivalent of 2016. More people are aware of it this time around but still not able to grasp the notion of it being a store of value which competes with gold. To them it is a fake, energy sapping asset used for illegal activities and they will continue to convince themselves of it until the point it is 400k/coin.
Wait till pension funds / 401k plans start auto investing into this. I doubt anyone could say at that point that they don't invest in it.

onecoolcat

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1280 on: December 27, 2020, 08:24:35 PM »
The real FOMO hasn't started yet.  I don't think we are anywhere near the 2017 level of awareness of the Bitcoin climb as of this writing.  I'm still very bullish on the short term future of Bitcoin.

Correct. Based on the 4 year boom/bust btc cycle this is equivalent of 2016. More people are aware of it this time around but still not able to grasp the notion of it being a store of value which competes with gold. To them it is a fake, energy sapping asset used for illegal activities and they will continue to convince themselves of it until the point it is 400k/coin.
Wait till pension funds / 401k plans start auto investing into this. I doubt anyone could say at that point that they don't invest in it.

People in 2017 saw the trend a mile away but timing was soul crushing due to the massive gains leading up to the crash.  I didn’t sell enough due to greed but I stopped buying around $4k due to the trend.  I think history will repeat itself in 2021.  Lots of bitcoiners say this run will be different due to institutional investors.  I don’t know but I’ve stopped buying BTC for now (despite being very very bullish on the short term).  I’m very risk adverse.

talltexan

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1281 on: December 28, 2020, 11:35:25 AM »
I've done very limited speculation in Crypto.

Haven't completely worked out the accounting, but over 2018-summer of this year, I was probably about $400 in the hole.

Beginning with the 10/31 pay-cheque, I've been rebuilding a position, which is still small. Every pay-check, I put enough in to get to the next value using the price at the time. Lately, gains in price mean my purchases have been smaller, and--if it really runs ahead--I may pull some out this Thursday.

I think this is the best way to deal with the volatility while slowly increasing my stake.

seattlecyclone

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1282 on: December 28, 2020, 08:16:07 PM »
I was wondering if this thread would pop back up again as BTC sails past $26k USD/BTC and keeps climbing...

It's getting really tiring to see all the btc haters bash it when it's down, writing it off as a bubble that will burst to $0.

If it's high, it's a speculative bubble, pyramid scheme (I guess that's a term you call things that you don't understand that people are making money on?), tulip mania, etc.  If it's low, well, laugh at all the losers who bought into it and put their life's savings in it back when it was $500 or $1000 or something...  And if it's stable, well, it's boring, why bother, can't get rich quick on something stable.  Of course, there's also the problem that it uses more energy than the world generates (based on extrapolating the current hash rate on GPU efficiency numbers), is only used for drugs and crime, and... honestly, I don't even read any articles on mainstream tech sites about Bitcoin, because it's utterly predictable and that's before you hit the comment threads.

I can't figure out how much is people being misinformed, how much is well informed dislike, and how much is just sour grapes.

I definitely don't consider myself misinformed. I've read Satoshi's original paper. I mined a couple BTC (and a few other coins) back in 2011. I used some in online transactions, sold some, still hold some. The amount of cryptocurrency I still own has recently crept back up to about 2% of my net worth, and I really don't know how I should feel about that. I don't think "well informed dislike" applies to me either. I don't dislike cryptocurrency at all! I definitely see the utility in a technology that allows for financial transactions outside the traditional corporate/government-controlled banking system.

At the same time, I have no earthly idea what a bitcoin should be worth. Why $26,000 and not $26 million or just $26? The blockchain network is just as useful for money transfers regardless of how many zeroes are in the number. And why this particular blockchain implementation? The proof of work aspect of the BTC protocol is incredibly energy inefficient. Another network that can perform the same decentralized transaction recording function with less resource usage should by all rights supplant BTC in time. For these reasons I really can't recommend that someone should "invest" in BTC. The price seems largely made up. I'll probably keep hodling what I have because I have no need or desire to realize a big capital gain right now, but there's no way I'm going to go out and buy more either. Maybe I'll see if I can take advantage of this new spike/bubble/whatever to transfer it to my DAF account.

forgerator

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1283 on: December 29, 2020, 09:05:18 AM »
I've done very limited speculation in Crypto.

Haven't completely worked out the accounting, but over 2018-summer of this year, I was probably about $400 in the hole.

Beginning with the 10/31 pay-cheque, I've been rebuilding a position, which is still small. Every pay-check, I put enough in to get to the next value using the price at the time. Lately, gains in price mean my purchases have been smaller, and--if it really runs ahead--I may pull some out this Thursday.

I think this is the best way to deal with the volatility while slowly increasing my stake.

Agreed. I was in the hole around 5k on ethereum back in 2018, having foolishly bought a majority of the coins around the $1k mark. After that I slowly started DCAing, buying minor amounts at dips, fast forward 2020 I am now up 15k on my overall Ethereum investment.

talltexan

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1284 on: January 05, 2021, 08:56:41 AM »
I was so meticulous with my accounting while I was losing money during CY 2018.

I haven't paid attention at all during the last 3 months, except to look at the price--not even logging into my account--and feel smug.

billy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1285 on: January 16, 2021, 01:34:22 PM »
Can you still buy USDT in the USA?


onecoolcat

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1286 on: January 16, 2021, 05:25:31 PM »
Can you still buy USDT in the USA?

Yeah, but why would you want to buy USDT?  Its probably a scam.

billy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1287 on: January 16, 2021, 09:01:42 PM »
ya....but blockfi is offering a bit more interest than USDC.