Schnellbandit
I see 4 lights!
Not the ones left holding the bag.
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bitcoins
- Thread starter enki
- Start date
Not the ones left holding the bag.
Entoptic
Red Power!
Dubbs the growth of adoption for crypto is so high the infrastructure can't keep up. That is why coinbase and the like are having issues right now. Users are basically ddosing those sites. Those sites can't keep up with the user base and keep running into issues.
Last month 13m people started using coinbase and gdax. Imagine the hit that site is taking in terms of usage.
They aren't taking the site down during key moments. They would lose money that way. Every market transaction is money in the bank for them. They lose money if the exchange/soft wallets are offline.
Climber
Well-known member
History is full of get rich quick schemes that roped a lot of people in then collapsed. Just because it's modern technology doesn't change the fundamental realities....I wonder how many people will jump off of high places when this one collapses....
RightCoastBias
F8TRED
I jumped off ETH at $630 and LTC at $370. A few grand for a months "work". Not so bad.
I'll reinvest original amount when both correct and do it again.
TripleSeven
...
Climber you’re such a Nancy. No one cares what you think.
jt2
Eschew Obfuscation
Done right, an expensive night in Vegas can provide weeks of intrigue, too. (E.g., "where the hell is my wallet?", "how did I get this rash?" or "what do you mean we're married??")
A vehicle for making money stacks things heavily in the favor of the wealthy....imagine that?
Unregulated exchanges of pretend currencies that were developed by god-knows-who. Where is your sense of adventure?
It is pretty amazing watching this unfold. The number of otherwise rational people that have drank the "it's different this time..." Kool-aid is astonishing.
Schnellbandit
I see 4 lights!
They're playing in the same game as the Winklevossi, just stop and think about that. That alone should make them run for the nearest clinic.
And no, that doesn't make anyone a Zuckerberg.
Seriously though, tons of money to be made if one remembers it isn't money until sold and converted. No one has made a dime until they sell out. Hoping that some business you want to buy from accepts it and between the time you say "I'll buy that" and they ring it up bitcoin doesn't implode is just a risk of holding.
And no, that doesn't make anyone a Zuckerberg.
Seriously though, tons of money to be made if one remembers it isn't money until sold and converted. No one has made a dime until they sell out. Hoping that some business you want to buy from accepts it and between the time you say "I'll buy that" and they ring it up bitcoin doesn't implode is just a risk of holding.
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Climber
Well-known member
You don't. We'll see who cries when the new toy breaks.
TripleSeven
...
It’s kinda fun. Money comes and goes. I’d pull a $6k profit right now but the app hasn’t let me sell in a week. So we’ll see I guess.
Entoptic
Red Power!
You don't. We'll see who cries when the new toy breaks.
I'm with Triple. We get it, shit happens. Thank you for reminding us however you gotta understand everyday someone comes into this thread to crap on us.
Meanwhile we're all making money. Some are taking profits as well. Why not join the conversation instead of reminding us it'll all turn to dust... or maybe it won't.
Schnellbandit
I see 4 lights!
Question: For those into this. Given the rapid runup, at what valuation do you see bitcoin becoming a mainstream recognized and accepted commodity that is highly unlikely to rundown just as fast or even faster? Maybe that question is a two parter so feel free to answer that way.
Thats sort of cryptic, maybe sustainable is a better word than mainstream.
Thats sort of cryptic, maybe sustainable is a better word than mainstream.
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When people see it as an accessible mainstream thing. I never got into it before because I thought it was only some obscure tricky thing for L337 hax0rs to know how to do.
I don't think it's a valuation matter. It's just a matter of legitimacy. When people start seeing crypto ATMs and mainstream payment modalities, it'll attain more of a permanent feel.
Just imagine what it'll do to exchange rates and BS fees for that crap? I can see it being big in airports and international hub cities first.
Here is a question that has been nagging at me and illustrates my ignorance on the whole concept:
What happens when mining is no longer profitable? Isn't mining the backbone of the currency, how that transactions are processed? When the miners pull out, what keeps the currency going? Or will exchanges and payment processors keep it going based on fees collected?
What happens when mining is no longer profitable? Isn't mining the backbone of the currency, how that transactions are processed? When the miners pull out, what keeps the currency going? Or will exchanges and payment processors keep it going based on fees collected?
afm199
Well-known member
There is little doubt that Bitcoin will just keep appreciating until one day you are richer than Warren Buffett.
Schnellbandit
I see 4 lights!
What I have a hard time seeing is the point at which regulators with the force of law comes into the game and the associated overhead does to Bitcoin what it does to everything else, draw off value in return for little more than funding a bureacracy. I'd think that would actually provide legitimacy of a sorts, the government seeing it as such a value that its worth regulating.
Isn't the mining independant of governmental regulations as it now stands? Are there mechanisms as part of bitcoin that preclude such intervention?
I recognize this isn't related to the day to day making money off bitcoin but in reading stuff casually I couldn't find much dealing with that.
I have family members into bitcoin, they can't explain much more than the profit they've pulled out.
stangmx13
not Stan
Entoptic
Red Power!
If that is what you choose to read from my post more power to yah but that isn't what I said at all.
Dubbington
Slamdunk Champion
I can see that being the case.
I defintely need to do more with my $$. My roth is great but I just turned 36 and don't think it's aggressive enough.
I came across Ripple (XRP). Still wrapping my head around this detail of what it does
At only $0.29 a share, it's not difficult to make a lot of gains.
What's weird with these exchanges is they don't offer all crypto currencies. Coinbase does not sell XRP. If I were to go in I'd want litecoin and XRP so I'd have to find an exchange that allows to buy both, just to make it easier to manage.
As for being touted as anonymous, these exchanges need quite a bit of data to get going.
Entoptic
Red Power!
I'm heavily invested in Ripple. Don't buy it right now cause it's just pumping with the alts. I'd wait for it to drop to .23 or lower.
The tech is cool but it's centralized and not BTC at all. No anonymous accounts, all in plan view from my understanding. They're working with the major banks which imo will give them the one up but who knows.
I purchased 3.5k XRP on Poloniex.
Climber
Well-known member
That's not a red flag for you?