sixshooter

iTrader: (12)

I bought tulip bulbs. Hoping they really take off.

timk

LOL! It does seem eerily similar.

Full_Tilt_Boogie

iTrader: (1)

Its funny that Im suddenly hearing about the Tulip "bubble" all over the place. The last time I heard about it was in college where I learned that it didnt actually happen.

There are arguments on either side of the debate as to whether or not Bitcoin is in a bubble state. Its not healthy for people to view it as a "get rich quick" scheme, but at the same time the market cap and adoption rate is not really that high, yet. The media has never been able to report on economics well and Bitcoin has really started to expose how many of these journalists dont know ****. Then on top of all that you have some of the most wealthy people in the country intimidated by the implications of highly liquid, international, decentralized, cryptocurrencies. Put all this together and you have quite the information shitstorm.

My advice has never changed. Build a diverse portfolio. Crypto has its place in everybody's portfolio, how much depends on what beta you are targeting. If you have all your money in just BTC, you should stop. That is dumb.

kozy

Anyone buying Ripple in here? I'm about to dive into that one here shortly and make a quick buck. Maybe use the profit to buy another Miata lol

UrbanSoot

iTrader: (24)

vitamin j

iTrader: (5)

I bought a shitload of Ripple at .22 cents. My portfolio has exploded in the last month, I have about 18 different alt coins, taking profits back into BTC now while it's low. Also returned 2x as much $$$ as I borrowed from our account to shut my wife up so I can continue to trade in peace

Tulips am I right lol. I also could buy a Miata with my Ripple profits

sixshooter

iTrader: (12)

Bitcoin will last until the very first run on the bank. Since there is nothing to back it up aside from perception of worth, once that is gone it will fall as the house of cards that it is.

UrbanSoot

iTrader: (24)

Bitcoin will be gone because its technology is extremely limiting. Transaction times are way too high.

vitamin j

iTrader: (5)

Ingenius analysis, sir! Where'd you pick that up from? CNN? There are actually billions of $$$ in computer hardware backing it up. Over xmas break $100 billion was taken out in 24 hours...held strong around $15k.

New upgrades coming this spring which will reduce both fees and transfer times. Lightning network will allow immediate transactions between users putting a placeholding in the main blockchain to be fully confirmed when the network is less busy. People think that Bitcoin is set in stone, it is not. It has a whole path for future upgrades and they are being undertaken.

buffon01

iTrader: (9)

I have some ripple, I also have some Tron lol... if you are looking for quick money I would go to Tron.

ridethecliche

iTrader: (2)

I'd love to buy some ethereum or ripple or what have you to short so I could use the lump sum student loans that just showed up in my account. Given my luck though, I'd end up seeing everything tank and make 10x the loss that I'd stand to gain lol.

UrbanSoot

iTrader: (24)

EOS and REQ the ones I would invest in for their long-term potential.

sixshooter

iTrader: (12)

I understand that you have consumed the fancy colored Flavor Aid (the actual beverage at Jonestown). Would you care to enlighten me as to what anyone would be able to trade their Bitcoins for once the populous has decided they don't wish to trade anything for them? Once upon a few hundred years of time, a mule was a useful device, easily traded and highly valued. A good pair of mules was worth much all across America in an economy that saw them as a means of developing wealth. When was the last time you saw a motherfucking mule, smartass? People decided they weren't valuable. Just decided it. Moved on. NEXT!

So what happened to the people with a shitload of mules in the pasture? Did mules become unable to work? Nope. Same old mules. Just people stopped considering them as valuable, wanted other things instead. Shiny tractors and such. How do you sell 400 mules you paid $15,000 apiece for when nobody wants to buy a mule, even at $400 a head? I know I'm pitching faster than you can swing here, but try to keep up, would you son?

There's only perceived value behind any currency. No smoke and mirrors, just perceived value. Either there's confidence in it or not. This is why the USD is more prized than the Bolivian Boliviano, or did you think all currency is equally valuable? How cute! People believe it will be worth a roughly equivalent amount next month so it works. This is based upon history and the perception of the establishment guaranteeing the value. People generally believe the US government won't collapse by next Tuesday or even by the 23rd of August so they accept it's currency as reasonably stable to own.

Has Bitcoin demonstrated stability? Do tell? Has it functioned predictably?

You know that the iPhone 6 had people waiting in line for days? What is it worth now?


Worth less than a mule now?
Worth whatever someone will give, and no more.

Will they give the last 400,000 people trying to cash it in those billions of dollars of computer hardware? Split it between them?

Anything is only worth what someone is willing to pay for it at any given moment. When that value changes quickly in one direction it could easily change quickly in the other. Or are you incapable of envisioning such complexity?

Bet only what you are ready to lose with a chuckle and no more. If you win, great! If you lose, tell the grandkids about the magic computer money scheme someone invented in their basement and got a bunch of people to buy.

More Flavor Aid, sir?

UrbanSoot

iTrader: (24)

sixshooter, I think you are confused about how modern money works.

Back in the day money had commodity value. It was literally made out of precious metals (gold, silver, mules, salt, silk, etc) which defined its value. It was not that far off from a barter system.

Then we had the gold standard. Instead of trading actual pieces of gold, people started trading certificates that you could exchange for pieces of gold in a bank. It had 1:1 value to gold, meaning that you would get 1 predefined weight of gold for 1 certificate unit.

Now we use Fiat. The value is backed by the government that has issued it. It does not hold a physical commodity value of any sort. Its value is defined by demand and supply, much the same as with Bitcoin and altcoins.

acedeuce802

iTrader: (1)

What I don't like so far is storage with the coins. Is it really worth buying a ~$120 hardware wallet when I only have $500 or so invested? Will this $500 that I have spread around a few different altcoins disappear in a few years because they are left on a software wallet or some on an exchange? With this little invested, is it really worth moving around to wallets if the transfer fees stack up quick? At least on binance they are pretty high, luckily gdax makes fees low/non-existent for the major coins. I don't see how this could take off to more than those who either are technically inclined with this type of stuff or just have high belief in the cryptocurrencies, because the average person isn't going to deal with storage like this. I'm thinking about moving some of mine to Tron, cashing a chunk of my investment out if it rises, and just hold on to a bit of each. Not sure if I'll regret not holding on to my whole investment.

UrbanSoot

iTrader: (24)

1. You don't need to buy a hardware wallet. You can just use a software wallet and store your private key on a USB stick. You can even encrypt it using any of the free software packages out there.
2. Transfer fees for a lot of currencies are very low.
3. What happens if you open an account in Vanguard, eTrade, Wealthfront, Acorns, and elsewhere and forget about it? It's the same if you forgetting about a wallet or balance in an exchange. Use a spreadsheet to keep track of your finances!
4. Average person 20 years ago could barely use a computer, now everyone has one. The same thing goes for a smartphone 10 years ago. Mass adoption of cryptocurrencies and other blockchain technologies will take time, just like every other technology in the past.
5. Pull out what you put in, hodl the rest.

vitamin j

iTrader: (5)

Yes. We all know this. Learned it in elementary school. Pretty basic stuff there!

You obviously don't know enough about crypto to have an opinion if you don't understand where the value comes from. Mules are still worth something. An old iPhone is still worth something. After the '08 housing loan crash, did houses become obsolete and worthless? No. The price of something goes up and down until an equilibrium is reached between buyer and seller.

Your analogy to a "run on the bank" is completely telling because you fail to understand that the blockchain is a public ledger. It is reconciled by individuals all around the world every 10 minutes. It is impossible to cheat or lie about it. Therefore the "bank" is not capable of lending and it is not capable of owing more than it's own value. Just like gold, except you can't send a lump of gold to the other side of the world for next to nothing in 10 minutes.

You're drinking the fruity drink. I'll put $1000 into crypto and you put $1000 in the bank and we'll see who's is worth more in a year.

2slow

When a WW3 erupts with all of you with money in bank, facebook or crypto you will wish you bought mules

sixshooter

iTrader: (12)

I fully understand Fiat money and how it works. Something is only worth what someone is willing to give you for it. If there is a scare and people dump Bitcoin for cash then no matter what you paid for it you won't be able to get much for it. It doesn't matter what you think it's worth or what someone on the internet says it's worth if no one is willing to give you anything for what you got. It's about supply and demand as you have stated. I'm simply saying that if confidence in it falls then there will be little demand. The dollar is well valued because people have confidence it won't suddenly fall. If Bitcoin drops to $8,000 next week the casual investors may flee end dump their shares possibly driving it down to 4000. That might **** off the more serious investors and they may dump some of theirs as they watch the value in free fall.

Saying it can't happen made me feel like you needed an elementary explanation of economics, hence the mule example. Carry on as you were.

Girz0r

iTrader: (1)