Author Topic: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion  (Read 271864 times)

Orin!

  • 5 O'Clock Shadow
  • *
  • Posts: 52
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1150 on: July 17, 2018, 07:50:57 PM »
Back to the thread topic - bitcoin up 9% in last 24 hours. Think a bull run is on?

sol

  • Walrus Stache
  • *******
  • Posts: 8492
  • Age: 42
  • Location: Pacific Northwest
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1151 on: July 17, 2018, 08:17:11 PM »
lol.

No, I don't think a bull run is on.  This thread is dead for a reason.

seattlecyclone

  • Magnum Stache
  • ******
  • Posts: 4916
  • Age: 34
  • Location: Seattle, WA
    • My blog
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1152 on: July 17, 2018, 09:17:06 PM »
Is there any actual fundamental reason cited for the ridiculous run-up, or is it just the same old people manipulating prices again?

Syonyk

  • Magnum Stache
  • ******
  • Posts: 3874
    • Syonyk's Project Blog
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1153 on: July 18, 2018, 11:07:40 AM »
Is there any actual fundamental reason cited for the ridiculous run-up, or is it just the same old people manipulating prices again?

It's the... you know, markets, stability, crypto, future blockchain based app ecosystem things!

maizeman

  • Magnum Stache
  • ******
  • Posts: 3634
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1154 on: July 18, 2018, 11:27:36 AM »
So I can tell you the reasons it's being attributed to. However, keep in mind this is just like those articles written every day about the the stock market went up or down. If the market moved the opposite direction each day, people could certainly articles with just as much/little logic:

-The Financial Stability Board (which is tied in to the G20 somehow?) put out a report that said "bitcoin and cryptocurrencies do not currently pose a material risk to the global financial system."

-Blackrock, whose CEO previously had a lot of negative things to say about bitcoin announced they are investigating the potential for investing in cryptocurrencies/blockchain applications (yes this is as hand wavy as it sounds).

-Goldman Sachs lost their previous CEO and appointment their current COO to the role, who was seen as more positive on bitcoin than the outgoing guy.

Anyway, I suspect all three are just so stories that people have identified after the fact to explain the way the markets moved. *shrug*

jmecklenborg

  • Stubble
  • **
  • Posts: 147
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1155 on: August 14, 2018, 11:10:44 PM »
I just re-watched this interview from the peak of Bitcoin hype in December 2017.  Look at the comments...everyone's talking about how dumb Joe Rogen is.  Pretty much all of those commenters lost money -- some of them a lot of it -- just a few weeks later:
https://www.youtube.com/watch?v=7JSEiCl136Q

Whoever this guy is who they interviewed saw a ton of money disappear.  Ripple, for example, is down 90%.  From over $3 to just 26 cents.  How does Ripple now recruit new employees?  It's like working for Myspace. 

The guy I knew who was up well over $100,000 on ETH is now only up $20,000.  In just a few months he went from being an object of jealousy to a bit of a joke.  Why didn't you sell when all those ETH's you bought at $50 were worth $1,400?  It's all so obvious in hindsight. 

runbikerun

  • Bristles
  • ***
  • Posts: 464
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1156 on: August 15, 2018, 03:32:38 AM »
I read the other day that even though the Turkish lira is in free fall, with commentators seriously discussing the possibility of capital controls or an IMF intervention, it has still held value better so far in 2018 than bitcoin.

maizeman

  • Magnum Stache
  • ******
  • Posts: 3634
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1157 on: August 15, 2018, 06:16:06 AM »
Hahaha. You're not wrong.

Bitcoin is -54% since the end of December. Turkish Lira is -38%. Of course last December is about the peak of bitcoin. Going back twelve months bitcoin is +54% and the Turkish Lira is -43%.

dividendman

  • Handlebar Stache
  • *****
  • Posts: 1128
  • Age: 37
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1158 on: August 16, 2018, 02:56:57 PM »
I wonder if Top is in for bitcoin.

Syonyk

  • Magnum Stache
  • ******
  • Posts: 3874
    • Syonyk's Project Blog
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1159 on: August 16, 2018, 03:18:13 PM »
I wonder if Top is in for bitcoin.

Local top was in a few months back around $17k or so (yes, it bubbled along to $20k and you couldn't get much through the network at that point, so it wasn't a useful value).

Or are you referring to the bouncing around $6k-$8k thing?

dividendman

  • Handlebar Stache
  • *****
  • Posts: 1128
  • Age: 37
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1160 on: August 16, 2018, 05:04:59 PM »
I wonder if Top is in for bitcoin.

Local top was in a few months back around $17k or so (yes, it bubbled along to $20k and you couldn't get much through the network at that point, so it wasn't a useful value).

Or are you referring to the bouncing around $6k-$8k thing?

Oh, I was just equating this thread to the Top is in thread since they're both ridiculous for kind of opposite reasons :)

aspiringnomad

  • Pencil Stache
  • ****
  • Posts: 809
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1161 on: November 24, 2018, 11:38:33 PM »
Any updates from crypto fiends or foes? Hanging in there? Buying the dip? Selling in panic? Smiling smugly? Patting yourself on the back for talking friends and family out of their crypto "investments" during the 2017 holidays?

v8rx7guy

  • Handlebar Stache
  • *****
  • Posts: 1367
  • Location: Bellingham, WA
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1162 on: November 25, 2018, 07:37:59 AM »
Any updates from crypto fiends or foes? Hanging in there? Buying the dip? Selling in panic? Smiling smugly? Patting yourself on the back for talking friends and family out of their crypto "investments" during the 2017 holidays?

Smiling smugly.  Couldn't talk the BIL out unfortunately!

GuitarStv

  • Senior Mustachian
  • ********
  • Posts: 13921
  • Age: 38
  • Location: Toronto, Ontario, Canada
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1163 on: November 25, 2018, 08:01:51 AM »
Crypto as an investment.  LOL

runbikerun

  • Bristles
  • ***
  • Posts: 464
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1164 on: November 25, 2018, 08:54:44 AM »
Today on 1/8/2018: 1 Bitcoin is $14,900, 1 Monero is $400, 1 Ether is $1,150, 1 Lisk is $31, 1 LINK is $1.30 and 1 ARDR is $1.61

Once in a lifetime opportunity.

Today on 11/25/2018: 1 Bitcoin is 3,700, 1 Monero is 55, 1 Ether is 109, 1 Lisk is 1.29, 1 LINK is 27 cents and 1 ARDR is five and a half cents.

sol

  • Walrus Stache
  • *******
  • Posts: 8492
  • Age: 42
  • Location: Pacific Northwest
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1165 on: November 25, 2018, 09:30:46 AM »
Today on 1/8/2018: 1 Bitcoin is $14,900, 1 Monero is $400, 1 Ether is $1,150, 1 Lisk is $31, 1 LINK is $1.30 and 1 ARDR is $1.61

Once in a lifetime opportunity.

Today on 11/25/2018: 1 Bitcoin is 3,700, 1 Monero is 55, 1 Ether is 109, 1 Lisk is 1.29, 1 LINK is 27 cents and 1 ARDR is five and a half cents.

This is the best laugh I've had in days.  Thanks rbr.

Also hilarious, looking at Tonyahu's post history, is his report of going all in on crypto around June and then this little gem:

I expect the market capitalization to be over 1 T by the end of 2019, current at 225B.

Just for reference, today's bitcoin market cap is about 68B, or down a further 70% since the day he was predicting we would see a 444% increase.

seattlecyclone

  • Magnum Stache
  • ******
  • Posts: 4916
  • Age: 34
  • Location: Seattle, WA
    • My blog
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1166 on: November 25, 2018, 10:30:41 AM »
Today on 1/8/2018: 1 Bitcoin is $14,900, 1 Monero is $400, 1 Ether is $1,150, 1 Lisk is $31, 1 LINK is $1.30 and 1 ARDR is $1.61

Once in a lifetime opportunity.

Today on 11/25/2018: 1 Bitcoin is 3,700, 1 Monero is 55, 1 Ether is 109, 1 Lisk is 1.29, 1 LINK is 27 cents and 1 ARDR is five and a half cents.

What a nice Black Friday sale! Buy buy buy!!!!1!

theolympians

  • Stubble
  • **
  • Posts: 132
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1167 on: November 25, 2018, 11:21:49 AM »
I've been a crypto-skeptic since it began. Why so many options?

In once sense it is a throwback to the days of yore when banks would print their own money. That creates a problem for the user (like crypto) as to who will accept it as payment. Not a good place to be then, or now.

Crypto essentially undermines legitimate currencies. It's best use is to avoid tracking and taxes. My opinion is that it is mostly used by criminals; and speculated on by the get-rich-quick types. IMO for John Q. Public there are no reasons to replace the dollar.

maizeman

  • Magnum Stache
  • ******
  • Posts: 3634
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1168 on: November 25, 2018, 12:09:17 PM »
Any updates from crypto fiends or foes? Hanging in there? Buying the dip? Selling in panic? Smiling smugly? Patting yourself on the back for talking friends and family out of their crypto "investments" during the 2017 holidays?

Relaxing because I don't spend nearly as much time debating with strangers on the internet who don't understand that the reason I get excited about cryptocurrency has nothing to do with replacing the dollar and everything to do with replacing visa/mastercard/western union (see case in point below).

The value to mining difficulty ratio zcash crossed below the break even point some time back, so I've been able to redeploy the graphics cards from my mining experiment for training neural networks, which has been a lot of fun but doesn't really relate to the topic at hand.

I don't count cryptocurrency as part of my net worth, but if I had, it would have peaked at ~5% last winter during the run up in bitcoin and is now in the 1-2% range as a result of both price declines and regular old savings growth.

Crypto essentially undermines legitimate currencies. It's best use is to avoid tracking and taxes. My opinion is that it is mostly used by criminals; and speculated on by the get-rich-quick types. IMO for John Q. Public there are no reasons to replace the dollar.

misterhorsey

  • Bristles
  • ***
  • Posts: 361
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1169 on: November 25, 2018, 05:22:06 PM »
I strongly discouraged a non-investment minded friend, who was not in regular employment, from putting $1,000 into Ripple in Dec 2017, when she asked my advice.

She countered with:
- it's different to Bitcoin
- it's the future
- I don't have much savings, so I can't rely on average returns (6-7% p.a), I need to make lots of $ quick

I gave her various reasons not to, including by pointing out if you don't have much money saved up, then an average return of 6-7% is so much better than losing 90%...but I could tell my arguments weren't terribly convincing.  Although perhaps if I was encouraging it would have convinced her to buy? Who knows.

Anyway, remained pretty committed to the idea, but she decided not to buy any.

Fast forward to around September 2018, after the dust had settled, and she got back into regular employment and the cryptocurrency bubble had subsided, I updated her on how her $1,000 would have performed.  It would have become $140 at the time.  She was relieved.

I'd like to comfort myself that speculative bubbles in any investment class are fine so long as you are a seasoned investor and allocate at percentage of your portfolio you'd be happy to risk....however, it's pretty clear that these bubbles gain their traction and momentum from sucking in lots of money from people who are unlikely to understand all the risks of these kinds of investments. 

I do feel for the people who have lost out from their holdings. Greed is a motivation for investing, but so too is anxieties from the fear of being left behind/missing out. And if they were motivated to strike it big to make up for years of not saving/investing etc, this just puts them into a bigger hole.

talltexan

  • Magnum Stache
  • ******
  • Posts: 2536
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1170 on: November 27, 2018, 08:39:11 AM »
I'm out of crypto now.

About $350 in the red. Could have been much, much worse, but I got out in May to switch phones, and I got out again right before leaving the continent last month. I'm grateful to have lost only that.

runbikerun

  • Bristles
  • ***
  • Posts: 464
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1171 on: December 07, 2018, 06:30:47 AM »
https://boingboing-net.cdn.ampproject.org/v/s/boingboing.net/2018/12/05/blockchain-cruise.html/amp?amp_js_v=a2&amp_gsa=1#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fboingboing.net%2F2018%2F12%2F05%2Fblockchain-cruise.html

A British journalist named Laurie Penny, who usually focuses on feminism, somehow got sent on a crypto cruise around the Mediterranean. The ensuing article is both quite funny and quite depressing.
« Last Edit: December 07, 2018, 06:39:27 AM by runbikerun »

appleshampooid

  • Stubble
  • **
  • Posts: 244
  • Relentless Snacker

runbikerun

  • Bristles
  • ***
  • Posts: 464
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1173 on: December 07, 2018, 07:21:48 AM »
Thank you - was linking on my phone and clearly copied and pasted the wrong one.

maizeman

  • Magnum Stache
  • ******
  • Posts: 3634
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1174 on: December 07, 2018, 08:49:36 AM »
Indeed, quite a funny read (and worth the time to read the whole thing). The author is a very talented writer so that it'd be worth reading regardless of the topic matter.

Quote
Correlation does not equal causation, and for all I know the guy has been hip-deep in Ukrainian models somewhere offstage the whole time, but I suspect not. I suspect he has been doing what he normally does: having arguments on the internet.

...

I twice hear Pierce telling people who have clearly never licked an Amazonian frog just to see what would happen that “the first four letters of ‘EVOLVE’ are ‘EVOL.’ Reverse that and you get ‘LOVE.’”

Kahooli

  • 5 O'Clock Shadow
  • *
  • Posts: 36
  • Age: 31
  • Location: Midwest City
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1175 on: December 07, 2018, 09:13:41 AM »
I must be one of the few who made money in crypto - and guess what it wasn't the crypto I made money on!
I got into mining, built a few rigs. I had stacks of 1080 ti boxes.

How did I make money? Sold GPUs when idiots were piling in late and paying $1200 for used $700 cards.

runbikerun

  • Bristles
  • ***
  • Posts: 464
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1176 on: December 07, 2018, 09:47:00 AM »
Indeed, quite a funny read (and worth the time to read the whole thing). The author is a very talented writer so that it'd be worth reading regardless of the topic matter.

Quote
Correlation does not equal causation, and for all I know the guy has been hip-deep in Ukrainian models somewhere offstage the whole time, but I suspect not. I suspect he has been doing what he normally does: having arguments on the internet.

...

I twice hear Pierce telling people who have clearly never licked an Amazonian frog just to see what would happen that “the first four letters of ‘EVOLVE’ are ‘EVOL.’ Reverse that and you get ‘LOVE.’”

I do quite like the line "John McAfee has never been convicted of rape or murder, but -crucially - not in the way you or I have never been convicted of rape or murder."

Travis

  • Magnum Stache
  • ******
  • Posts: 2524
  • Location: South Korea
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1177 on: December 07, 2018, 07:45:10 PM »
I must be one of the few who made money in crypto - and guess what it wasn't the crypto I made money on!
I got into mining, built a few rigs. I had stacks of 1080 ti boxes.

How did I make money? Sold GPUs when idiots were piling in late and paying $1200 for used $700 cards.

The people who struck it rich during the Gold Rush didn't go looking for gold. They sold shovels and sandwiches to all the people looking for gold.

GuitarStv

  • Senior Mustachian
  • ********
  • Posts: 13921
  • Age: 38
  • Location: Toronto, Ontario, Canada
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1178 on: December 08, 2018, 08:41:52 AM »
I must be one of the few who made money in crypto - and guess what it wasn't the crypto I made money on!
I got into mining, built a few rigs. I had stacks of 1080 ti boxes.

How did I make money? Sold GPUs when idiots were piling in late and paying $1200 for used $700 cards.

The people who struck it rich during the Gold Rush didn't go looking for gold. They sold shovels and sandwiches to all the people looking for gold.

Casinos and brothels did pretty well too.

JAYSLOL

  • Handlebar Stache
  • *****
  • Posts: 1208
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1179 on: December 08, 2018, 02:32:33 PM »
It's been super interesting watching crypto currency implode over the last year.  This time last year some friends of mine on Facebook that hardly post anything were posting about how they were so right about BitCoin/Crypto and that it was on track to be "over $40k US/Bitcoin by this time next year".  I put some money in a while back, but when it trippled to around $7k/coin, I took half of it out, then took the rest out when it doubled again.  I left a couple of LiteCoin in that I'd paid $50 for, guess I should have spent those when they were worth $300+ each.  Oh well.  I only bet fun money on it, and came away ~$1700 ahead when the dust settled.  I feel for those that put everything in at the top, not so much for those that had been pushing everyone else in for years and were really smug about their "investments" this time a year ago. 

beee

  • Stubble
  • **
  • Posts: 177
  • Age: 31
  • Location: Edmonton, Canada
    • HoneyMoney.io
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1180 on: December 12, 2018, 11:21:58 AM »
I'll just leave this link here:
Bitcoin Projection for 2018
https://www.cryptoculturemagazine.com/cryptocurrency/bitcoin-projection-for-2018/

Quote
Based on these figures, here is a summary and average of these predictions: $43,138. Wow! Amazing to consider that at the current value of just under $8,000, that’s a speculative return of 539%!

Todays BTC price: $3,433

sol

  • Walrus Stache
  • *******
  • Posts: 8492
  • Age: 42
  • Location: Pacific Northwest
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1181 on: December 12, 2018, 11:50:57 AM »
I'll just leave this link here:
Bitcoin Projection for 2018
https://www.cryptoculturemagazine.com/cryptocurrency/bitcoin-projection-for-2018/

Quote
Based on these figures, here is a summary and average of these predictions: $43,138. Wow! Amazing to consider that at the current value of just under $8,000, that’s a speculative return of 539%!

Todays BTC price: $3,433

Their percentage prediction was almost exactly right, except for a factor of ten in the wrong direction.

Telecaster

  • Handlebar Stache
  • *****
  • Posts: 1881
  • Location: Seattle, WA
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1182 on: December 12, 2018, 02:28:04 PM »
That's nothing.  John Maafee predicts Bitcoin will be at $1,000,000 by the end of 2020.   

https://twitter.com/officialmcafee/status/935900326007328768

That my friends, is how you really pump up the speculative return.   

frugledoc

  • Pencil Stache
  • ****
  • Posts: 691
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1183 on: December 12, 2018, 02:40:09 PM »
That's nothing.  John Maafee predicts Bitcoin will be at $1,000,000 by the end of 2020.   

https://twitter.com/officialmcafee/status/935900326007328768

That my friends, is how you really pump up the speculative return.

He offers to eat his dick if he’s wrong.  Hard not to trust his opinion

beee

  • Stubble
  • **
  • Posts: 177
  • Age: 31
  • Location: Edmonton, Canada
    • HoneyMoney.io
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1184 on: December 13, 2018, 10:19:54 AM »
That's nothing.  John Maafee predicts Bitcoin will be at $1,000,000 by the end of 2020.   

https://twitter.com/officialmcafee/status/935900326007328768

That my friends, is how you really pump up the speculative return.

He offers to eat his dick if he’s wrong.  Hard not to trust his opinion

nah, he already found a way out of his promise:
https://twitter.com/officialmcafee/status/1071395711244267525

BrandNewPapa

  • 5 O'Clock Shadow
  • *
  • Posts: 96
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1185 on: December 14, 2018, 10:35:52 AM »
I recently sold my Bitcoin position with the constant downturn. I got in pretty early, with expectations of speculation. Overall I made about $2k. Do I regret not selling when I could have cleared nearly $20k? Not really. I made money and had fun, plus I didn't have much invested to begin with.

I've still got some money in ETH, LTC, and a few others. They are sitting at slightly under the break even point. I think I'm going to let them ride and see what happens. Even if they all go to zero, I'll still be positive with the money from BTC.

I might reinvest some back into BTC if it seems like the market is done tanking.

talltexan

  • Magnum Stache
  • ******
  • Posts: 2536
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1186 on: December 20, 2018, 10:56:34 AM »
But how do you know if it's done tanking?!?

thorstach

  • 5 O'Clock Shadow
  • *
  • Posts: 70
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1187 on: December 20, 2018, 02:57:51 PM »
Crypto bottom is in as it shows strength and inverse correlation to tanking markets.

Cassie

  • Walrus Stache
  • *******
  • Posts: 5725
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1188 on: December 20, 2018, 03:03:51 PM »
We made 40k and my son 100k. We are holding the 7 we still have.

waltworks

  • Magnum Stache
  • ******
  • Posts: 3287
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1189 on: December 21, 2018, 07:41:40 AM »
Crypto bottom is in as it shows strength and inverse correlation to tanking markets.

He's baaaaaaack!!

-W

Travis

  • Magnum Stache
  • ******
  • Posts: 2524
  • Location: South Korea
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1190 on: December 22, 2018, 05:20:23 PM »
Crypto bottom is in as it shows strength and inverse correlation to tanking markets.

He's baaaaaaack!!

-W

So a year ago when the market was up 15% and Bitcoin was up upteen hundred percent - inverse correlation again?

JAYSLOL

  • Handlebar Stache
  • *****
  • Posts: 1208
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1191 on: December 23, 2018, 12:00:26 PM »
Crypto bottom is in as it shows strength and inverse correlation to tanking markets.

Or more likely random fluctuations of digital currency that have no fundamentals.   

BrandNewPapa

  • 5 O'Clock Shadow
  • *
  • Posts: 96
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1192 on: January 03, 2019, 06:25:52 AM »
But how do you know if it's done tanking?!?

You don't....that's half the fun! Right now Crypto is more like gambling than anything else. Don't be dumb (e.g. mortgage your house). Just enjoy the ride.

talltexan

  • Magnum Stache
  • ******
  • Posts: 2536
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1193 on: January 04, 2019, 01:46:05 PM »

waltworks

  • Magnum Stache
  • ******
  • Posts: 3287
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1194 on: January 04, 2019, 02:08:47 PM »
Your post made me think about these guys

https://www.cnbc.com/2017/10/17/this-family-bet-it-all-on-bitcoin.html

It looks like they make money on their "course" and ad clicks, so I bet they're ok, at least for now. But they certainly didn't make money on their "investment" so far, unless they got smart and sold a lot of it a year ago.

-W

Telecaster

  • Handlebar Stache
  • *****
  • Posts: 1881
  • Location: Seattle, WA
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1195 on: February 04, 2019, 03:27:19 PM »
It has been said that lack of regulation is a feature, not a liability of cryptocurrencies. 

After the founder of Canada’s biggest cryptocurrency exchange, QuadrigaCX, died unexpectedly, about 115,000 clients have been unable to retrieve $190 million in holdings — because the owner was the only one who knew the password to access them, the company said.

Gerald Cotten, 30, died of complications with Crohn’s disease while doing philanthropic work in India in early December, according to a post on QuadrigaCX’s Facebook page. The company didn’t announce Cotten’s death until more than a month after he died, and as customers panicked and tried to withdraw their funds, QuadrigaCX’s website went down, and the company went off the grid.

When QuadrigaCX broke its silence a week later, the company revealed it had filed for creditor protection in the Nova Scotia Supreme Court, according to reporting from Coindesk. Evidently, Cotten was the sole person responsible for transferring QuadrigaCX funds between the company’s “cold wallet” — secure, offline storage — and its “hot wallet” or online server, according to court documents.


https://www.washingtonpost.com/business/2019/02/04/cryptocurrency-company-owes-customers-million-it-cant-repay-because-owner-died-with-only-password/?utm_term=.57967cf7b87f

As you can imagine, the crypto community is in full-on, conspiracy theory melt-down mode, and there is some question if QuadrigaCX even still has the coins.   But simple screw-up or conspiracy, I truly feel bad for those who lost their money.  And this is the exact reason why banks and stock exchanges are tightly regulated and have strict transparency and reporting requirements.   The system isn't fool proof by a long shot but, it heads and shoulders better than the only person with access to your money is a dead guy.

And in other news, blockchain attorney Preston Byrne thinks there is something fishy going on with Etherum:

https://prestonbyrne.com/2019/01/18/ethereum-is-arguably-centralized/


Travis

  • Magnum Stache
  • ******
  • Posts: 2524
  • Location: South Korea
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1196 on: February 05, 2019, 11:19:46 AM »
Saw the same article on another site this morning and came here to post it.  Either the worst possible way to run a business, or a con. 

maizeman

  • Magnum Stache
  • ******
  • Posts: 3634
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1197 on: February 05, 2019, 11:36:46 AM »
Buying cryptocurrency but then having someone else store it for you negates essentially every comparative advantage of the payment technology relative to regular old credit cards or cash.

The only motivation to do so is if you're speculating on the price going up or down but have no interest at all in the underlying tech. <-- which I recognize probably describes the vast majority of people who own or have owned cryptocurrency at this point. SMH.

sol

  • Walrus Stache
  • *******
  • Posts: 8492
  • Age: 42
  • Location: Pacific Northwest
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1198 on: February 05, 2019, 11:46:48 AM »
How many billions of dollars worth of crypto have gone "missing" from exchanges, one way or another?  Is anyone keeping count?

Because to a casual observer, this looks like the riskiest, most insecure, most fraud-prone "asset class" ever invented.

maizeman

  • Magnum Stache
  • ******
  • Posts: 3634
Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #1199 on: February 05, 2019, 11:56:03 AM »
How many billions of dollars worth of crypto have gone "missing" from exchanges, one way or another?  Is anyone keeping count?

Because to a casual observer, this looks like the riskiest, most insecure, most fraud-prone "asset class" ever invented.

Keeping crypto at an exchange has a very different (and worse) set of risks associated with it compared to having crypto that you control yourself.

Just like the types and degree of risks are different if you have cash stashed under your mattress or deposited at a bank.
Or buy a bunch of shares of VTI vs start a small business.
Or own a gold ETF vs have gold coins buried in the backyard.

Does it make sense why these two things are not the same as each other? If not, and you are interested, I'm happy to discuss what the different risks are and why they exist.

Or alternatively, do you disagree that these two different things are different in terms of risk types/degree?
« Last Edit: February 05, 2019, 12:17:20 PM by maizeman »