General Bitcoin / Cryptocurrency

Thoughts on Cryptocurrency?

  • Snake Oil. Im not falling for it. It will be worthless.

  • The way of the future. "Yes...1 Lambo in black with red acsents please"

  • I missed the boat. Heard about it before but didnt do anything about it.

  • Errrr...what is BitCoin?


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gREVUS

Long live the Rainbows and Butterflies
Contributor
May 8, 2012
8,285
Both to be honest. Crypto is a mix of forex, commodity and currency. So you can buy and hold eg gold, you can day trade like stocks etc, or you can leverage futures.
I do a mix of the first two.
I have bought stuff via crypto, but you can transfer crypto to fiat (money) and then use that money.

I dont cash out as much as I used to as I've already taken 4x out, but I regularly readjust my portfolio.

There currently 1300+ tokens/coins and only 3-4 of them are usable as a currency. For example I dont really use BTC, but I trade in it as a pair, so take 1 BTC , spread it around, then slowly take profit, end up with 2BTC and a bunch of other holdings that can be exchanged to BTC whenever.
i know i am treating BTC like gold, looking more at the long game as i got in so late. One of the reasons i like it is i actually understand it and how the scarcity value works with mining. When i look at so many of the others, i wonder what basis most of them have for value. ETH was described as a platform the other day and not a currency. I mean what the fuck is that?

Sounds like your on another level when it comes to this stuff Frank. Obviously know an informed group of people (same as Taj) who discuss it all the time and keep your eye out for opportunity. Unfortunately Its just me sitting at my PC going, Hmmmmmmm. And then playing with the 3d printer some more. The lack of income also means i have to be frugal with my money, but not to frugal as we still got a 3d printer for xmas.
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,432
i know i am treating BTC like gold, looking more at the long game as i got in so late. One of the reasons i like it is i actually understand it and how the scarcity value works with mining. When i look at so many of the others, i wonder what basis most of them have for value. ETH was described as a platform the other day and not a currency. I mean what the fuck is that?

Sounds like your on another level when it comes to this stuff Frank. Obviously know an informed group of people (same as Taj) who discuss it all the time and keep your eye out for opportunity. Unfortunately Its just me sitting at my PC going, Hmmmmmmm. And then playing with the 3d printer some more. The lack of income also means i have to be frugal with my money, but not to frugal as we still got a 3d printer for xmas.


Best advice is twitter and reddit. Never pay for info or tips, there are waaay too many really good traders that will discuss strategies for free. YT is good too, but I found the best way to do that is to ignore viewers and subscribers and reverse engineer it. Look for unknown coins that have done really well, and then look for guys that were calling a buy like 3 months ago.
I found this guy.. https://www.youtube.com/channel/UCq5BzgNkrWjXl2YmlsX4G5g who was talking up XLR at 90c, we bought at $17, now at $60... Also heaps of his other calls have gone 50x
This guy is good too https://www.youtube.com/channel/UCLo66QVfEod0nNM_GzKNxmQ good analysis, and stays away from hype trains.

Man seriously im a rookie who was late to the party, but im a fast learner.

For anyone who thinks they have missed the boat, this is the single largest transfer of wealth on the in the history of man. And we are all right in the middle of it. Sceptical Wall Streeters who called it a scam and a bubble last year are now diving in head first.
 
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bruce

Warriors 1st Grader
Contributor
Sep 1, 2015
16,061
Right now is such a good time to buy!!
https://www.telegraph.co.uk/business/2018/01/11/warren-buffett-predicts-bad-ending-bitcoin/
Warren Buffett predicts 'bad ending' for Bitcoin
US billionaire Warren Buffett has ruled out a foray into cryptocurrencies, warning that the Bitcoin boom will "come to a bad ending".

The chairman and chief executive of Berkshire Hathaway has joined the chorus of voices criticising the digital currency, which endured a rollercoaster ride at the tail end of 2017.

Speaking to CNBC, the so-called Oracle of Omaha said: "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,432
https://www.telegraph.co.uk/business/2018/01/11/warren-buffett-predicts-bad-ending-bitcoin/
Warren Buffett predicts 'bad ending' for Bitcoin
US billionaire Warren Buffett has ruled out a foray into cryptocurrencies, warning that the Bitcoin boom will "come to a bad ending".

The chairman and chief executive of Berkshire Hathaway has joined the chorus of voices criticising the digital currency, which endured a rollercoaster ride at the tail end of 2017.

Speaking to CNBC, the so-called Oracle of Omaha said: "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.
Buffet also said he was stupid not to invest in Google, and didn't understand Amazon.

I can post hundreds of articles saying the same thing over the last 3 years.
Still making bank...
 

gREVUS

Long live the Rainbows and Butterflies
Contributor
May 8, 2012
8,285
https://www.telegraph.co.uk/business/2018/01/11/warren-buffett-predicts-bad-ending-bitcoin/
Warren Buffett predicts 'bad ending' for Bitcoin
US billionaire Warren Buffett has ruled out a foray into cryptocurrencies, warning that the Bitcoin boom will "come to a bad ending".

The chairman and chief executive of Berkshire Hathaway has joined the chorus of voices criticising the digital currency, which endured a rollercoaster ride at the tail end of 2017.

Speaking to CNBC, the so-called Oracle of Omaha said: "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.
An old man who has all his money and history tied up in share trading, born off of rich parents and many friends in the established commercial and political world doesnt like something new and upsetting, who'd a thunk it.
 

tajhay

👻
Mar 30, 2012
9,751
Sydney
https://www.telegraph.co.uk/business/2018/01/11/warren-buffett-predicts-bad-ending-bitcoin/
Warren Buffett predicts 'bad ending' for Bitcoin
US billionaire Warren Buffett has ruled out a foray into cryptocurrencies, warning that the Bitcoin boom will "come to a bad ending".

The chairman and chief executive of Berkshire Hathaway has joined the chorus of voices criticising the digital currency, which endured a rollercoaster ride at the tail end of 2017.

Speaking to CNBC, the so-called Oracle of Omaha said: "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.
Watch that interview. He said he has no idea about blockchain technology. Smart guy granted, but out of touch with current tech.

Look bruce...how about this. Create an account and buy whatever bitcoin amount you want in the next day or 2. Hold it for 365 days and if it goes down, i will personally fund the difference. If it goes up, you give me half of the profits. Deal? Win win for you with no risk. Not a callout on you, but if more people are educated on a decentralised currency/blockchain technology the better.
 

bruce

Warriors 1st Grader
Contributor
Sep 1, 2015
16,061
Watch that interview. He said he has no idea about blockchain technology. Smart guy granted, but out of touch with current tech.

Look bruce...how about this. Create an account and buy whatever bitcoin amount you want in the next day or 2. Hold it for 365 days and if it goes down, i will personally fund the difference. If it goes up, you give me half of the profits. Deal? Win win for you with no risk. Not a callout on you, but if more people are educated on a decentralised currency/blockchain technology the better.
Thanks for the offer. I accept it is genuine but I will stick with my weekly lotto ticket and that is a serious loss.:(
 
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bruce

Warriors 1st Grader
Contributor
Sep 1, 2015
16,061
Buffet also said he was stupid not to invest in Google, and didn't understand Amazon.
I remember the Google float. At the time there was no indication they were going to turn into the tech leader they have become. They were the new kid on the search engine block and doing a good job but Yahoo and many others who I have forgotten were still prominent. I will forgive Buffet that mistake.

I don't know how he could not understand Amazon, so maybe he is getting long in the tooth but I will go with him on bitcoin.
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,432
Okay not take up Grevus offer here is fun experiment I tell to people who are curious.

Download either Blockfolio or Delta apps, which track your portfolio. It's manual entry so no money involved.

Put into the app how much you could invest, whatever that amount is.
As a start I would say BTC, ETH and NEO.

Then all you have to do is just open the app and look at the potential gains or loss in the ghost investment.

Zero risk, and a fun game.

(caution, got my sceptical mate to try, so he put a pretend 2k in... 2 weeks later it was up to $3500, so he dropped 5k in for real!!)
 

gREVUS

Long live the Rainbows and Butterflies
Contributor
May 8, 2012
8,285
Okay not take up Grevus offer here is fun experiment I tell to people who are curious.

Download either Blockfolio or Delta apps, which track your portfolio. It's manual entry so no money involved.

Put into the app how much you could invest, whatever that amount is.
As a start I would say BTC, ETH and NEO.

Then all you have to do is just open the app and look at the potential gains or loss in the ghost investment.

Zero risk, and a fun game.

(caution, got my sceptical mate to try, so he put a pretend 2k in... 2 weeks later it was up to $3500, so he dropped 5k in for real!!)
Actually that was Tajhay who made that offer. I couldn't afford it atm.
 
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Miket12

Warriors 1st Grader
Apr 20, 2012
8,864
And just when I thought it was safe to check my emails, an email comes in telling me that four years ago, someone decided to buy 400 bitcoins on my behalf and they are now recommending that now is the time to sell them - all I need to do is send them my bank account details (for course, including my internet banking password) and they'll sell the bitcoins on my behalf and deposit the money into my bank account less their "reasonable fee".
 

bruce

Warriors 1st Grader
Contributor
Sep 1, 2015
16,061
And just when I thought it was safe to check my emails, an email comes in telling me that four years ago, someone decided to buy 400 bitcoins on my behalf and they are now recommending that now is the time to sell them - all I need to do is send them my bank account details (for course, including my internet banking password) and they'll sell the bitcoins on my behalf and deposit the money into my bank account less their "reasonable fee".
The sad thing is many will replay to the email as asked.
 
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Off The Bench

Warriors 1st Grader
Jan 26, 2014
3,176
When is a good time to get in .again I bought the trading robot just waiting to start
But it dosnt look like its settled yet .Let me know when its go time thanx J
 

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