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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

surlybevo

By surlybevo
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Trey3216

Trey3216 15343

Posted
Posted
3 minutes ago, RDCanecutter said:

I read that and it reminded me of about ten years ago when Georgia and some western state (Utah?) made gold and silver legal tender for paying debts to those states.

Both the gold and bitcoin payment proposals puzzle me-- if you believe either is superior to the US$, why would you part with them? Seems more like a scheme to prop up value of metal or bitcoin.

To me it seems like a means to acquire and sit on BTC or metals while they're cheap.  Hording at the bottom.  Long game 

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RDCanecutter

RDCanecutter 26378

Posted
Posted
2 minutes ago, Trey3216 said:

To me it seems like a means to acquire and sit on BTC or metals while they're cheap.  Hording at the bottom.  Long game 

Dunno. The gold payments stuff went through when it was on a tear and Johnny Come Lately was snatching it up (I think UT bought a ton at the top of the market), instead of, say, when it was lurking down in the 300s forever.

But you may still be right with the BTC.

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Trey3216

Trey3216 15343

Posted
Posted
Just now, RDCanecutter said:

Dunno. The gold payments stuff went through when it was on a tear and Johnny Come Lately was snatching it up (I think UT bought a ton at the top of the market), instead of, say, when it was lurking down in the 300s forever.

But you may still be right with the BTC.

State actors don't acquire gold on 8-10 year timeline.  They are most certainly playing the long game.  They could still be wrong, however.  

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Brothahorn

Brothahorn 10087

Posted
Posted

Figured some of you guys would get a kick out of this. And some of you may need to not be that guy.

https://www.reddit.com/r/CryptoCurrency/comments/a3rh6u/lessons_learned_crypto_and_divorce_in_january_i/

Lessons learned - Crypto and Divorce - In January I was a millionaire thanks to BTC, then my wife divorces me and now I have $30,000 AMA

 

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RDCanecutter

RDCanecutter 26378

Posted
Posted
On 12/7/2018 at 8:17 PM, Brothahorn said:

Figured some of you guys would get a kick out of this. And some of you may need to not be that guy.

https://www.reddit.com/r/CryptoCurrency/comments/a3rh6u/lessons_learned_crypto_and_divorce_in_january_i/ 

Lessons learned - Crypto and Divorce - In January I was a millionaire thanks to BTC, then my wife divorces me and now I have $30,000 AMA

 

I made it about three lines before my eyes glazed over. If the dude's conversational style is like his writing style, no wonder she took his shit and scooted.

In a personal vein, whenever I think of lost opportunities back in the 80s and 90s, I remember that the mid-90s were the Great Canecutter's Girlfriend Steals Everything and Runt Oft singularity. If I'd had more, she'd have grabbed that too.

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UTGrad98

UTGrad98 2271

Posted
Posted (edited)

I dabbled with crypto in Nov and Dec 2017 and made a small profit then got out asap. Im curious to see how cryptos will fare when we actually have a recession. Im betting many of those invested now waiting for the next big run up will have to pull their money for 1 reason or another. Couple that with Tether (google how it basically propped up Bitcoin for most of 2017; it's unwinding that prop up now) and the fact that the tech can infinitely copy each other and I think we still have a ways to go before bottom. I still look at my crypto apps at least weekly if just to educate myself on what a back half of a bubble looks like. My coinbase account is open with the money I made and will probably start looking to reinvest when the world is neck deep in the next recession. Probably ETH , hopefully at around 5-10 dollars a coin. Maybe XRP if it dips below 5 cents. Just patiently waiting cash in hand right now in all markets. I got time.

Edited by UTGrad98
fair vs fare
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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
36 minutes ago, happyfunball said:

 

I wonder how they're returning capital.  Most ICOs sold their coin/token in exchange for either BTC or ETH.  It would be a kick in the pants if you bought ETH at $1400 to purchase their ICO, and then get ETH back when its $85.  "Here's your 10 ETH back.  Thanks."   

Still I give them credit for saying they are giving something back.  I don't think all ICOs have done that.

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ztejas

ztejas 43411

Posted
Posted

On the gold analogy: gold has inherent value. Bitcoin does not.

People hoarding physical gold are never going to wake up and have their gold be worthless. 

People hoarding BTC could wake up one day and have some strings of code and an electronic key and jack shit.

So the "long game" for BTC is a lot shorter than the "long game" for hoarding actual commodities.

Which, to me, makes it extremely concerning that a state government is accepting it as payment for taxes.

Reason one million and one to stay away from anything Ohio related.

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
1 hour ago, ztejas said:

On the gold analogy: gold has inherent value. Bitcoin does not.

People hoarding physical gold are never going to wake up and have their gold be worthless. 

People hoarding BTC could wake up one day and have some strings of code and an electronic key and jack shit.

So the "long game" for BTC is a lot shorter than the "long game" for hoarding actual commodities.

Which, to me, makes it extremely concerning that a state government is accepting it as payment for taxes.

Reason one million and one to stay away from anything Ohio related.

Gold has very little inherent value.   Now that doesn't mean that BTC has any inherent value either.  

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ztejas

ztejas 43411

Posted
Posted
6 minutes ago, Nice Guy Eddie said:

Gold has very little inherent value.   Now that doesn't mean that BTC has any inherent value either.  

I would agree that it has little intrinsic value compared to what it is valued at in society.

However, people have been fascinated by it for thousands of years and it does have some very unique properties that give it utility in certain applications. Humans aren't going to wake up tomorrow and collectively decide we don't like gold anymore. The fact that we find it "pretty" is very deeply ingrained in human nature.

Not trying to have some pedantic argument about gold, the point I was trying to make is that as a store of value/investment it is much, much, much safer than BTC.

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UTGrad98

UTGrad98 2271

Posted
Posted

It will be short lived I think but ethereum up almost 75% in the last week. Bitcoin cash  up over 150% in 7 days. Most other coins up 30% or so . At least we know the fad isn’t over yet. Still gambling and 99 % of these coins are utter shit but there are some not so shitty ones that may end up making it. I wonder if bitcoin cash will actually replace bitcoin like some have said. Ethereum and xrp still have the most long term value imo. Those and one of the bitcoins either bitcoin or bitcoin cash.

 

Prices really started going up right when we were getting close to the 100 billion overall market cap. Now back up over 140 billion. That and maybe the stock markets crashing . Maybe some people took money out of stocks and put it in crypto. God I hope not. Either way it’s fun to watch all of these markets and learn. Still on the sidelines in my crypto account. I haven’t even thought of actually transferring money back in and investing . Maybe some day and only to speculate .

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
9 hours ago, UTGrad98 said:

It will be short lived I think but ethereum up almost 75% in the last week. Bitcoin cash  up over 150% in 7 days. Most other coins up 30% or so . At least we know the fad isn’t over yet. Still gambling and 99 % of these coins are utter shit but there are some not so shitty ones that may end up making it. I wonder if bitcoin cash will actually replace bitcoin like some have said. Ethereum and xrp still have the most long term value imo. Those and one of the bitcoins either bitcoin or bitcoin cash.

 

Prices really started going up right when we were getting close to the 100 billion overall market cap. Now back up over 140 billion. That and maybe the stock markets crashing . Maybe some people took money out of stocks and put it in crypto. God I hope not. Either way it’s fun to watch all of these markets and learn. Still on the sidelines in my crypto account. I haven’t even thought of actually transferring money back in and investing . Maybe some day and only to speculate .

With that opinion I would buying.  Spread a buy around 4 or 5 coins.    A couple of standard coins and a couple of flyers.   

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bernorange

bernorange 8359

Posted
Posted
Quote

Coinbase has frozen trading of Ethereum Classic (ETC) as developers continue to clarify reports that the coin’s network suffered a blockchain reorganization attack.
...
Vertcoin and Bitcoin Gold have also suffered 51 percent attacks in 2018, proving that market capitalization is a poor metric for measuring network security.
...

https://bitcoinist.com/ethereum-classic-51-percent-attack/

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MillerEP

MillerEP 30447

Posted
Posted

Coinbase started a new technique where you watch a video and take a 1 queation quiz after each to earn free crypto currency as an awareness thing. So they give $3.00 USD equivilent in BAT and ZCash right now. However I started using the Brave (BAT'S) browser, which is essentially Chrome, and so I gotta admit I like it. I'm using it now. Just screwing around the internet the past week has netted me $5.07 USD worth of BAT (40.0 BAT) so far. If Shaggy wants to start collecting it I can set it to Auto-Contribute.

 

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SDG

SDG 3319

Posted
Posted

Okay so I'm a crypto dummy.  I was trying to order some "medication" from an Indian company and my CC got declined...  The suggestion was to pay with bitcoin and save money.  NBD; so after about 5 seconds of research I set up a Coinbase account and verified my debit card.  I thought I could quickly transfer money and pay for my transaction but apparently Im limited to $50 bucks a week.  If I use a direct wire it take 19 days...

Are there options here?   

 

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
8 minutes ago, SDG said:

Okay so I'm a crypto dummy.  I was trying to order some "medication" from an Indian company and my CC got declined...  The suggestion was to pay with bitcoin and save money.  NBD; so after about 5 seconds of research I set up a Coinbase account and verified my debit card.  I thought I could quickly transfer money and pay for my transaction but apparently Im limited to $50 bucks a week.  If I use a direct wire it take 19 days...

Are there options here?   

 

Can you still pay with credit cards on Coinbase?   Given the nature of anonymity with crypto, coinbase still might take a while before they allow a major purchase.  And they also won’t allow an external transfer for a few days.

If you have the Cash app from Square, you might be able to convert dollars to bitcoin.  But then again they might hold onto it for a short time before allowing you to transfer the bitcoin to prevent fraud.

last thing I can think of are the bitcoin ATMs. Google them.   From what I know you can exchange cash for bitcoin.   I don’t know if you need a wallet in advance or whether it creates on for you.  If you try it, let us know your experience.

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SDG

SDG 3319

Posted
Posted
16 minutes ago, Nice Guy Eddie said:

Can you still pay with credit cards on Coinbase?   Given the nature of anonymity with crypto, coinbase still might take a while before they allow a major purchase.  And they also won’t allow an external transfer for a few days.

If you have the Cash app from Square, you might be able to convert dollars to bitcoin.  But then again they might hold onto it for a short time before allowing you to transfer the bitcoin to prevent fraud.

last thing I can think of are the bitcoin ATMs. Google them.   From what I know you can exchange cash for bitcoin.   I don’t know if you need a wallet in advance or whether it creates on for you.  If you try it, let us know your experience.

Unfortunately most large CC providers no longer allow Coinbase transactions..  

I'll look into the Cash app as a "short time" isn't an issue; I just don't want to wait 19 days plus a month for the shipping.  

The ATM thing is intriguing.  How does it work?  do I need a wallet like Exodus?  I tried to get Exodus on my Mac book but it doesn't want to install.  

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NeverMarryAStripper

NeverMarryAStripper 21872

Posted
Posted
Okay so I'm a crypto dummy.  I was trying to order some "medication" from an Indian company and my CC got declined...  The suggestion was to pay with bitcoin and save money.  NBD; so after about 5 seconds of research I set up a Coinbase account and verified my debit card.  I thought I could quickly transfer money and pay for my transaction but apparently Im limited to $50 bucks a week.  If I use a direct wire it take 19 days...
Are there options here?   
 

There is about a 95% chance that your “medication” is fake and about a 50% chance that it contains something harmful to you.
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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
21 minutes ago, SDG said:

Unfortunately most large CC providers no longer allow Coinbase transactions..  

I'll look into the Cash app as a "short time" isn't an issue; I just don't want to wait 19 days plus a month for the shipping.  

The ATM thing is intriguing.  How does it work?  do I need a wallet like Exodus?  I tried to get Exodus on my Mac book but it doesn't want to install.  

Looks like the atm fees can be hefty for purchase, as in >10%.   They also may require photo Id as you could easily be laundering cash.

 I assume that you can buy bitcoin into your own wallet via the atms.   For ease of use, I would find one that has a mobile page or app so you can use your phone for the transfer.  Btc.com might work.  I wouldn’t leave any bitcoins there for long term but should be safe for quick transactions.

 

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SDG

SDG 3319

Posted
Posted
4 minutes ago, NeverMarryAStripper said:


There is about a 95% chance that your “medication” is fake and about a 50% chance that it contains something harmful to you.

Well there's a 100% chance I have no interest in taking Adderall again when Modafinil works better for ADHD and has lower side effects (I've taken it in the past and don't suffer from skin irritation)  but this is the country we live in so until our government isn't controlled by big Pharma this is the risk we take....

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RDCanecutter

RDCanecutter 26378

Posted
Posted
4 minutes ago, SDG said:

Well there's a 100% chance I have no interest in taking Adderall again when Modafinil works better for ADHD and has lower side effects (I've taken it in the past and don't suffer from skin irritation)  but this is the country we live in so until our government isn't controlled by big Pharma this is the risk we take....

In my googling I learned that it is available here as Provigil. Is it hard to get a doctor to prescribe that?

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GRHorn

GRHorn 105

Posted
Posted
On 12/24/2018 at 9:30 AM, CooterBrown said:

Just check my account I started durning the old site’s bitcoin frenzy. I put $1500 in it, it peaked a few weeks later at over $4,000 and today it’s worth $48. Lol.
 

Man you must’ve bought the shittiest of the shitcoins. 

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SDG

SDG 3319

Posted
Posted
On 2/16/2019 at 3:29 PM, Nice Guy Eddie said:

Looks like the atm fees can be hefty for purchase, as in >10%.   They also may require photo Id as you could easily be laundering cash.

 I assume that you can buy bitcoin into your own wallet via the atms.   For ease of use, I would find one that has a mobile page or app so you can use your phone for the transfer.  Btc.com might work.  I wouldn’t leave any bitcoins there for long term but should be safe for quick transactions.

 

as a follow up; I found that there is a Coinme (Coinstar) at my grocery store; I deposited cash and it was available immediately for a 4% fee.

 

Much easier than I thought it would be.   

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SDG

SDG 3319

Posted
Posted
On 2/16/2019 at 3:37 PM, RDCanecutter said:

In my googling I learned that it is available here as Provigil. Is it hard to get a doctor to prescribe that?

Its otc in many countries including Mexico where I normally buy it but in the states it's an no no for ADHD.  Provigil is prescribed for shift work disorder and narcolepsy I believe.  

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AngryBevo

AngryBevo 20

Posted
Posted
On 2/21/2019 at 5:18 PM, Bat Guano said:

So it turns out cryptocurrencies aren't unhackable after all:

https://www.technologyreview.com/s/612974/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/

Color me surprised.

A 51% attack has always been known, nobody ever said that wasnt possible especially with smaller coins.

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
12 hours ago, SDG said:

as a follow up; I found that there is a Coinme (Coinstar) at my grocery store; I deposited cash and it was available immediately for a 4% fee. 

Had forgotten that coin star was in the game now.  Did they require any photo id to be scanned?

 

11 hours ago, AngryBevo said:

A 51% attack has always been known, nobody ever said that wasnt possible especially with smaller coins.

What he said. Without a doubt it’s a potential weak point with some of the coins. I do think that people were alarmed when it happened to ETC.

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