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bitcoins

bpw said:
I consider calling BS a contribution, and technical analysis of even normal stocks is 90% psuedoscience. Thinking it has any relevance for something like the current crypto market is nothing other than selection bias.

What do you think the odds are that you are actually better at this than everyone else in the market? Much, much more likely that your essentially random guessing has resulted in a good run.
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The odds of being better then everyone else? Pretty fucking slim if even in the same ballpark. I work in IT, not in the investment field.

If you think I'm random guessing that's fine. Why does it matter so much to you?
 
Entoptic said:
Volc I wish you no ill will but you're taking this way to seriously. It appears to be very black or white with you and no grey. I'm not stating facts. If you're taking them as facts then you gotta look at yourself and question why you're seeing it that way and why firing back personal attacks instead of questioning my statements is your MO.

Furthermore the comments I quoted don't help anyone in this thread. If you're taking that as saying leave the thread then again I ask why do you feel that way? Yes you've contributed to this thread and I'm sure lots of people appreciate it. Why can't you just keep it at that?
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I haven't resorted to any personal attacks. Stating my belief that you, and some others, don't know how this market works but are incredibly lucky, is not an attack - it's simply criticism.

I think it's important that everyone knows that cryptocurrency is in its infancy, it has gaping security holes, it's riddled with scams (shit coins), and you really need to do research and embed yourself in a bit of shady insider trading if you want to come out on top. Don't buy into the HODL mentality as it's purely emotional. And don't listen to ppl who won big in the recent years, it just means we were lucky and were curious early on - nothing more.
 
wait does that mean I shouldn't put my mortgage into dogecoin
 
bpw said:
On another note, as long as crypto is an investment, it won't work as a currency since no one will spend and asset that is increasing in value. For those who truly believe in cryto as teh future of currency a crash and stagnation of value is probably the best think possible.
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https://www.ferrariofnewportbeach.com

Call up these guys and see if how many cars they have sold to people paying in Bitcoin
 
UDRider said:
To be fair they paid with USD which was the profit in "investing" in bit coin. No different then someone getting in early on a unicorn stock and cashing out partially or fully.
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Very true however there is a site that will take your btc for a Lambo. It was posted a few pages back.
 
I could probably trade my house for a Lambo as well, doesn't make houses a good currency. The few places that take crypto are mostly doing immediate swaps for USD to avoid the risk of price changes and are very much the exception to the rule.

A currency that doesn't maintain a mostly stable value is useless as currency because you can't hold it and expect to get your value back. Can you imagine trying to run a business using a currency that fluctuates 50% a day? how would you pay employees or suppliers? Ever deal would have to be executed immediately to prevent risk. Crypto might become currency someday, but it can't remain a high yield investment at the same time, it's either a lousy investment or a lousy currency, can't be both.

Appreciating currency (even if guaranteed to go up forever) also works quite poorly because no one will want to spend it, and is an economy killer. The slight inflationary nature of the US dollar is actually very important for keeping our economy going since it encourages spending and lending of money.

Basically, believing the current profit in crytpo is sustainable, and believing it's the future of currency are somewhat mutually exclusive. Money can be made on the current market, but those opportunities need to disappear before it can become a useful currency.
 
bpw said:
I could probably trade my house for a Lambo as well, doesn't make houses a good currency. The few places that take crypto are mostly doing immediate swaps for USD to avoid the risk of price changes and are very much the exception to the rule.

A currency that doesn't maintain a mostly stable value is useless as currency because you can't hold it and expect to get your value back. Can you imagine trying to run a business using a currency that fluctuates 50% a day? how would you pay employees or suppliers? Ever deal would have to be executed immediately to prevent risk. Crypto might become currency someday, but it can't remain a high yield investment at the same time, it's either a lousy investment or a lousy currency, can't be both.

Appreciating currency (even if guaranteed to go up forever) also works quite poorly because no one will want to spend it, and is an economy killer. The slight inflationary nature of the US dollar is actually very important for keeping our economy going since it encourages spending and lending of money.

Basically, believing the current profit in crytpo is sustainable, and believing it's the future of currency are somewhat mutually exclusive. Money can be made on the current market, but those opportunities need to disappear before it can become a useful currency.
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I mean I can sit here all day and link places that actually take the currency... https://news.bitcoin.com/private-schools-kids-accepting-bitcoin-tuition/

There are some professional athletes starting to get paid with coin... I'm actually kinda curious now and wonder if its an option.

I believe Mark Cuban is going to allow bitcoin and other currency to be used to purchase tickets this year..... and so on and so on.

Its happening... and there are a lot of unknowns at this moment but its happening and right now is nothing more than the beginning stages and people hate new stuff specifically when its taking the place of something thats been in place since the beginning.
 
bpw said:
I could probably trade my house for a Lambo as well, doesn't make houses a good currency. The few places that take crypto are mostly doing immediate swaps for USD to avoid the risk of price changes and are very much the exception to the rule.

A currency that doesn't maintain a mostly stable value is useless as currency because you can't hold it and expect to get your value back. Can you imagine trying to run a business using a currency that fluctuates 50% a day? how would you pay employees or suppliers? Ever deal would have to be executed immediately to prevent risk. Crypto might become currency someday, but it can't remain a high yield investment at the same time, it's either a lousy investment or a lousy currency, can't be both.

Appreciating currency (even if guaranteed to go up forever) also works quite poorly because no one will want to spend it, and is an economy killer. The slight inflationary nature of the US dollar is actually very important for keeping our economy going since it encourages spending and lending of money.

Basically, believing the current profit in crytpo is sustainable, and believing it's the future of currency are somewhat mutually exclusive. Money can be made on the current market, but those opportunities need to disappear before it can become a useful currency.
Click to expand...

I mean I can sit here all day and link places that actually take the currency... https://news.bitcoin.com/private-schools-kids-accepting-bitcoin-tuition/

There are some professional athletes starting to get paid with coin... I'm actually kinda curious now and wonder if its an option.

I believe Mark Cuban is going to allow bitcoin and other currency to be used to purchase tickets this year..... and so on and so on.

Its happening... and there are a lot of unknowns at this moment but its happening and right now is nothing more than the beginning stages and people hate new stuff specifically when its taking the place of something thats been in place since the beginning.

Shoot people in the wedding industry are at this very moment setting themselves up to take crypt as payments.
 
sidewazzz said:
I mean I can sit here all day and link places that actually take the currency... https://news.bitcoin.com/private-schools-kids-accepting-bitcoin-tuition/

There are some professional athletes starting to get paid with coin... I'm actually kinda curious now and wonder if its an option.

I believe Mark Cuban is going to allow bitcoin and other currency to be used to purchase tickets this year..... and so on and so on.

Its happening... and there are a lot of unknowns at this moment but its happening and right now is nothing more than the beginning stages and people hate new stuff specifically when its taking the place of something thats been in place since the beginning.
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that didn't address any of the valid points that bpw just made
 
bpw said:
I could probably trade my house for a Lambo as well, doesn't make houses a good currency. The few places that take crypto are mostly doing immediate swaps for USD to avoid the risk of price changes and are very much the exception to the rule.

A currency that doesn't maintain a mostly stable value is useless as currency because you can't hold it and expect to get your value back. Can you imagine trying to run a business using a currency that fluctuates 50% a day? how would you pay employees or suppliers? Ever deal would have to be executed immediately to prevent risk. Crypto might become currency someday, but it can't remain a high yield investment at the same time, it's either a lousy investment or a lousy currency, can't be both.

Appreciating currency (even if guaranteed to go up forever) also works quite poorly because no one will want to spend it, and is an economy killer. The slight inflationary nature of the US dollar is actually very important for keeping our economy going since it encourages spending and lending of money.

Basically, believing the current profit in crytpo is sustainable, and believing it's the future of currency are somewhat mutually exclusive. Money can be made on the current market, but those opportunities need to disappear before it can become a useful currency.
Click to expand...

It's a "new" currency, it takes time to stabilize, if it does work out. It still has value and it seems to be picking up adoption, as others stated with car dealerships, Mark Cuban, and others using as payment. The currency in many 3rd world countries is less stable than cryptos and they are using crypto in place of their "states" currency.
 
So for all the guys that have a nano- why cant I send btc to the segwit address on the nano? I keep trying and it gets rejected from Kraken. It will only allow a legacy withdraw address. All the research tells me that it is cores fault. How is this possible when we already have segwit activation on core. The only way for me is to send to legacy then transfer to segwit. Thats not how it should work imo.

Also get ready for a downturn. Put in some incredibly low purchase orders in and you may hit them in the next few days. Im talking low like 7500. Moas is telling his newsletter subscribers we will go low and to be ready.
 
Entoptic said:
Have either of you heard of tether? What do you think of it?
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Unless I am missing something, it seems rather pointless. While transactions costs/speed can be an issue with fiat, there is nothing inherent that makes moving fiat around expensive or slow. Tether also requires a level of faith that the it is actually backed by the US dollar, if tether goes bankrupt you could be really screwed.

Already quite a few options for fast, low cost transactions of Fiat currency. The British banking system has near instant transactions available.
 
Volcomism said:
We have the same in Germany as well.
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I think this is the real crux for cryto acceptance. Once you get past the early adopters who have philosophical reasons to use it you need to convince the average person who is going to ask "what can this do that I can't do more easily with fiat?"

I'm not really sure what the answer to that is. Anonymity sounds great but is actually a bad thing for the average user since it makes it too easy to "lose" money and makes any sort of insurance of bank accounts really hard.
 
god i love the internet.

yea this month is going to be messy. just chillax a bit. theres alot of bad news in the crypto market world right now...but also alot of promising news. and some of that promising news is happening as we speak, and its being successful. lets not forget bitcoin is up 1100% from this time last year. say it again. 365 days ago BTC was 920 USD. its just unfortunate bad news carries way more weight in the way of market effect than good news

so cmon guys and gals. any stock that does that type of growth is going to be uhhhh volatile ...
 
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