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Odio
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Old
41 - 06-05-2017, 02:43 PM
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Quote:
Originally Posted by SuperTrap View Post
I believe absent hates all money. In all forms. It's not fair
He hates money that isn't taken from someone else and given to another.
 
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Osiris
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Old
42 - 06-05-2017, 03:06 PM
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Help me buy bitcoins equal to a thousand bucks
 
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darkpiece
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43 - 06-05-2017, 03:11 PM
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i m king
 
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Pip
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Old
44 - 06-05-2017, 03:15 PM
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bitcoins are old news
ethereum is where it's at
 
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Rayn
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Old
45 - 06-05-2017, 03:35 PM
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probably will have another crash sometime but still looks good long term.
 
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sehvi
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46 - 06-05-2017, 03:36 PM
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d00ds spergin' out pretty hard in this one
 
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MaD_ReBeL
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47 - 06-05-2017, 03:55 PM
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Originally Posted by Rayn View Post
probably will have another crash sometime but still looks good long term.
haven't been any crashes lately, well, since the PBoC thing. The down trends from what i'm reading were whales getting paid.
 
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Rayn
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48 - 06-05-2017, 04:10 PM
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Originally Posted by MaD_ReBeL View Post
haven't been any crashes lately, well, since the PBoC thing. The down trends from what i'm reading were whales getting paid.
yeah but you can't just invent "value" forever. sooner or later someone will take profits and they will get other people taking profits.
 
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Flash
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49 - 06-05-2017, 04:20 PM
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I'd like to buy some bitcoins but feel like I'm getting in too high. Thoughts on a near crash for a good time to buy?
 
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MaD_ReBeL
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50 - 06-05-2017, 04:36 PM
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Originally Posted by Flash View Post
I'd like to buy some bitcoins but feel like I'm getting in too high. Thoughts on a near crash for a good time to buy?
$2000 was the floor and may still be however $2500 may be the new floor if we stay above it for a week or two.
 
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Bughead
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51 - 06-05-2017, 05:36 PM
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I skipped out on BTC when it first came out. Regret that.

I actually bought into the ETH presale, but sold out early to recover losses from other stupid altcoin investments. Regret that.

Due to both of those, I bailed out on crypto stuff until recently (was tired of being burned and not really having anything to show for it). Regret that because I missed out on other projects that I know I would have bought into (like Stratis which has done exceptionally well).

Now I'm looking at it again. The landscape actually looks much better than it did back then. Before all you had was BTC and BTC clones (every altcoin was either a premine scam or some clone with a useless gimick). Now, a lot of the projects actually have decent development teams with actual whitepapers, prototypes, roadmaps, and actual useful purposes. They're also moving away from the stupid "mining" requirement thanks to Ethereum and other big projects moving away from that model (PoW was never going to see mass adoption IMO).

If you wait for a "crash/dip" to get in, you'll never get in BTW. Just buy into something (ETH or BTC if you don't want to have to think about your choice) and hold it for a couple years. If it dips, it will recover and go even higher. You're never going to make a profit day-trading unless you know what you're doing and watch the exchanges 24/7. Don't bother. If you insist, look into a project called "CoinDash" and buy into it. You'll be able to use their tokens to copy other traders' calls (so you'll get the benefit of day-trading without all the effort). I'm sure that'll be taken advantage of though (setting up a short and then making a dump call that you know will be duplicated ad nauseum).
 
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Last edited by Bughead; 06-05-2017 at 05:42 PM.
MaD_ReBeL
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52 - 06-05-2017, 05:56 PM
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bug, i'm the last guy to give sound financial advice - but what has worked for me is using ... well frankly i'm 'playing' with savings. meaning if i lose it, i'm pissed, but its w/e all my bills are paid - im way to big a puss to play with 'real' money. that said, pulling the trigger on $3K speculative plays .. even with money i didnt immediately require ... wasn't easy.

my rationale, i get like a fraction of a return keeping the money in a savings account, i could do 10-20% return if i really dive into stocks but i just dont have the cycles to immerse myself, so where can i put my savings that has some chance of a reasonable return.

this led me to precious metals and crypto currency. metals work best for pure stores with silver having a lot of upside potential if JP Morgan ever loses control of the silver market. Gold, gold will be flat and any scenario where gold spikes upwards, BTC likely outpaces it.

but metals don't return much, they're fairly flat.

hence my interest in cyrpto currency.

if the us economy tanks, BTC likely spikes to astronimical levels. in this scenario, i lose my USD holdings but the pace my BTC positions return in this scenario outpaces the loses. +1 for BTC.

if in the above i had cash in savings, that cash is best case devalued with a worst case being seizure by the government. BTC can't easily be seized, again +1 cryptos.

Really any disaster scenario where the US or global economy melts down just ends up ushering in the block chain future sooner, IMO, so really any massive disaster you come up with (that leaves the grid intact) BTC is the better long term option, IMO.

near term and short term you need to be able to react quickly to market dynamics. this is why i'm still heavy into BTC and not other coins as the convertibility of BTC is way ahead of the others.

when to buy? not right this second for sure. let it play out, watch where it tops, then buy in somewhere between the previous floor and the most recent ceiling with the mind set of "i'm holding this position" and try not to monitor every second of the market trends.

if you're using BTC or any crypto in a day trading/currency trading play .. well i have nothing to add here other than troll the internet for breaking news around the world that mentions struggling, collapsing, or otherwise untrusted government/financial systems and buy before the main stream new cycles get the story. other than that i can't make much sense of the crypto markets. it seems driven by fear of central governments which boils down to a general lack of trust the world over.

BTC and all crypto currencies are based on immutable truth in that, 1+1 will always = 2. you can trust math to always produce the same answer. 1+1 could equal zebra once you put it through the US political system.
 
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bowl of blood
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53 - 06-05-2017, 07:04 PM
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just out of curiosity what is the most you can use through bitpay at once, or how much how you processed through it

basically "you can spend it one happy meal at a time" doesn't strike me the same as "you can cash out 22 mil"
 
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DMAUL
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54 - 06-05-2017, 07:55 PM
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if you load a bitpay visa you can spend 10k usd a day. You load it with bitcoins and they're exchanged at the time of purchase. It's a debit card accepted everywhere.
 
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Rayn
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55 - 06-05-2017, 08:03 PM
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there is no way to hedge the dollar, not with gold and not with cryptos and not with Yuan. the world is never going to switch to gold or bitcoin or whatever as its primary currency. if the dollar goes down, everything gets worse, and if its seriously down - well everything is going in the ****ter and you can have 5 billion space bucks in your account and it's not going to mean jack ****. this is the danger of having what amounts to the most "global" currency the world has ever known.

if you're just saying, well the dollar is probably going into kinda the ****ter and I can cash out at the first sign because I know the value will spike immediately and then go down once everyone realizes you can't eat gold (or whatever), then go nuts.

Rate of return on precious metals is just ****ing awful. Even through the 2000s. Awful.

also --

Quote:
Originally Posted by MaD_ReBeL View Post
BTC and all crypto currencies are based on immutable truth in that, 1+1 will always = 2. you can trust math to always produce the same answer. 1+1 could equal zebra once you put it through the US political system.
That's not really true. Maybe math is behind it, but markets run on more than math. The Bitcoin market is particularly susceptible to manipulation due to relatively low volume and control of the supply. There's really no logic behind trading BTC. There's really no logic behind trading any currency, but I guess you can make the case for some. At the end of the day, its all imaginary value.
 
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Odio
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Old
56 - 06-05-2017, 09:58 PM
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hedge deez nuts
 
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MaD_ReBeL
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Old
57 - 06-05-2017, 11:24 PM
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Quote:
Originally Posted by bowl of blood View Post
just out of curiosity what is the most you can use through bitpay at once, or how much how you processed through it

basically "you can spend it one happy meal at a time" doesn't strike me the same as "you can cash out 22 mil"
I moved 3500 in 10 minutes. bitcoin network takes a transaction fee and bitpay had a fee (all in like 4% after both) and the end to end transaction completed in under 10m. do note, they transact based on the lowest index at the time. i did not know this before hand so do keep this in mind.

basically there are 4 indexes the chinese one is traditionally lowest, the US one i think is always highest the other two meh. if you watch, at certain times of the day the delta between these all waxes and wanes based on which markets are open so if you can wait to convert do so during chinese prime time when delta between high and low is least.

likely woulda had another $500 had I done this. lesson learned, w/e.

@rayn ... i don't disagree per se just want to note that BTC isn't an attempt to directly eliminate or otherwise control corruption or manipulation. all the block chain solves is trust over untrusted networks and end points and it dose this via absolute infallible (at this point) math that cannot be altered without a network consensus (central government). to ... well seemingly to a growing number of people this vehicle seems the safest most stable place to store value which itself is just game theory. there is no real value in .. well anything until we say so. now it seems we're saying BTC has more value than traditional currency.

that said, as long as there is an incentive and ability some mother ****er will figure out how to game any system. humans are too easily hacked.

*edit* also @rayn .. my theory is less of a hedge and more ... just kinda befuddled. nothing really makes sense. i've read buffet, all those guys, all that makes sense yet the market isn't operating under those sound investment principles - not really. sure buffet is still killing it, but then tesla is valued at wetf it is valued at without a single penny of profit. i don't have a ton of up front capital so the only real vehicles given my time/experience are mutual funds and those are 'safe' but the return really isn't going to have me retiring any time soon.

so what else can i invest in? a business, again, not enough capital to really fund anything so this isn't a viable option and returns are risky when they do come and typically 3-5 years. ok, not really a good place to put my savings.

banks ... yeah negative interest is super sexy sounding. sign me up. best case i could get a money market account, drop 10K and get 2-3% at best. could ladder CDs and if i watch rates and pick n choose deals across regional banks ... sure you can do ok and I SHOULD do this anyway but ... yeah **** that. so i'm too lazy for this lol.

401K - yeah doing that but 26 years to 65 ... it'll hopefully be there if it isn't robbed to pay peters loan shark to get another loan to pay paul who has to pay his loan shark ... yeah i'm not super trusting in banks.

mattress account works for absent ... nuff said

precious metals in small amounts not a bad idea, but as we've both said they're just flat.

so what can a guy like me invest in and ... not even get a return just know that 'it' will be there and cant be ****ed with and, since i'm considering this a store for savings ... it would be real nice to have a reasonable return rate.

I've been reading and watching for years and just haven't seen anything really reliable in this absolutely insane global economy that has any real chance of being reliable now and into the future, except BTC and a handful of other crypto currencies.

that said i'm still skeptical and will at a moments notice bail the second my stop loss is triggered. i do have a floor in my head that I will punch out at is the salient point i guess and any of you investing in BTC should do the same. setup that bitpay account, it costs you nothing, do this so you can bail if you need to. i didn't put in a dime till all that was setup and when i needed to bail, it worked out great.
 
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Last edited by MaD_ReBeL; 06-05-2017 at 11:38 PM.
Brasstax
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Old
58 - 06-06-2017, 01:00 AM
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Fake nerds living in fake nerd houses spending fake nerd currency on fake nerd **** with their fake nerd wives and their big fake nerd **** and their giant fake nerd lifestyles and their fake nerd kids and their fake nerd happiness in the fake nerd world.
 
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Falhawk
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Old
59 - 06-06-2017, 07:46 AM
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seriously though, do you guys have a ****load of bitcoins?

I know dick about them but isn't it the thing that people would run multiple computers mining?
 
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ArakAtak
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Old
60 - 06-06-2017, 07:57 AM
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Bitcoin always seems sketchy to me. I don't trust all this wallet stuff. I'm old and don't really understand it I suppose.

Money in a tobacco tin hidden in the toilet cistern ++
 
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