Cryptocurrency

[nobody 2,032]

Why would the nsa want a one world currency? I'm 5000 posts behind.

[IMMensaMind 459]

Bitcoin is backed by nothing.

 

There is a new crypto currency coming out in January...it will be backed by oil. One Oilcoin, will be worth 1 barrel of oil. This is something I can see myself putting some money into.

Um...how is that different than simply buying a barrel of oil? You think they're going to sell something to you which is worth "1 barrel of oil" for less than the equivalent dollar value of "one barrel of oil"?

 

 

 

Bitcoin was scary for me at $5000 and is scarier now. Its backed by nothing. That's the problem.

 

Acceptance is backing. Value increases as acceptance increases. It is no difference than "full faith and credit of the US Government" - other than the fact that Bitcoin cannot be inflated, tracked and taxed as easily as fiat currency.

[IMMensaMind 459]

Why would the nsa want a one world currency? I'm 5000 posts behind.

For the same reason they want one world government. Control.

[nobody 2,032]

For the same reason they want one world government. Control.

How does diluting the dollar give the nsa or the US control?

[IMMensaMind 459]

How does diluting the dollar give the nsa or the US control?

It creates the means and need to increase taxes; it allows the FED to skim 6% of the economy's production right off the top. Etc.

[DankNuggs 305]

Um...how is that different than simply buying a barrel of oil? You think they're going to sell something to you which is worth "1 barrel of oil" for less than the equivalent dollar value of "one barrel of oil"?

 

 

 

 

Acceptance is backing. Value increases as acceptance increases. It is no difference than "full faith and credit of the US Government" - other than the fact that Bitcoin cannot be inflated, tracked and taxed as easily as fiat currency.

Because the entire system is reliant on the strength of the black market.

[twcsux 4]

 

one of the things that pisses me off / makes me skeptical about all of this is the amount of places to buy coins is seemingly never ending. I understand there are tons of ways to buy stock but first, it was coinbase. Now coinbase isn't as good as gemini.com. Gemini doesnt seem to offer LTC?....

 

Then we had the low post person who is clearly someones alias saying that GDAX was the way to go... even though when you link a bank account to GDAX, it still ends up being coinbase that verifies everything.

 

bitfinex

shapeshift

binance

 

can't this just be boiled down to 2? one best place to buy BTC/ETH/LTC and then one best place to transfer one of the big 3 to buy IOTA, etc?

[twcsux 4]

Im the low post guy and an an alias to no one. Was just trying to help everybody save money on fees. Gdax is the coinbase exchange and has way less fees than buying straight from coinbase.

 

Sorry for trying to help. Typical bullshit here as usual.

[iam90sbaby 2,120]

Im the low post guy and an an alias to no one. Was just trying to help everybody save money on fees. Gdax is the coinbase exchange and has way less fees than buying straight from coinbase.

 

Sorry for trying to help. Typical bullshit here as usual.

 

I don't think you are an alias. Keep on posting here I appreciate your input.

 

 

 

This thread has almost 20,000 views there are going to be some people who post in this thread who aren't regulars.

[nobody 2,032]

It creates the means and need to increase taxes; it allows the FED to skim 6% of the economy's production right off the top. Etc.

How does it create a need to increase taxes?

[nobody 2,032]

Im the low post guy and an an alias to no one. Was just trying to help everybody save money on fees. Gdax is the coinbase exchange and has way less fees than buying straight from coinbase.

 

Sorry for trying to help. Typical bullshit here as usual.

Gdax was a good rec and time warner cable does suck, so you're already smarter than 90% of the posters here.

[frank 2,144]

I know you would be throwing away potential profits, but I would be tempted to cash out the initial investment so I could say I didn't lose anything.

[WhiteWonder 2,171]

Im the low post guy and an an alias to no one. Was just trying to help everybody save money on fees. Gdax is the coinbase exchange and has way less fees than buying straight from coinbase.

 

Sorry for trying to help. Typical bullshit here as usual.

 

so then, mr non alias (maybe thats typical BS around here but it's not hard to imagine), why would anyone use coinbase rather than GDAX? is it the simple reason that coinbase is more "mainstream" in the sense that you read about it in every CC article?

[WhiteWonder 2,171]

but back to the amount of places to purchase CC's. one of the reasons it leaves me a little uneasy is as follows.... lets compare to the regular stock market.

 

many places / ways to buy regular stock. many brokerages etc... However, the stock market has been around muuuuuuuch longer than CC's. There are also 100kX more stocks out there than there are crypto currencies. Brokerages and personal trade accounts are also regulated like banks and more strictly regulated since the financial crisis. I highly doubt many if any of these CC buying platforms are regulated. Seems to be a lot of complaints regarding Coinbase and the idea they may be inflating prices to skim $$ from CC investors during buys and sells.

 

the ever growing idea in this thread alone that you should be keeping coins in "cold storage" offline... why? it's supposed to be very safe, no?

 

im really just playing devils advocate. If I had coins that I didn't want to be able to quickly sell, i'd be keeping them offline too.

[WhiteWonder 2,171]

So let me ask directly to the CC master himself, 90sbaby.

 

I want to have the ability to purchase the major CC's as well as dip my toes in the water of something like IOTA. I don't want to have accounts at 8 different CC exchanges.

 

Which 2 do I use? I already have coinbase but would switch to Gdax (likely not Gemini as it doesnt seem to offer LTC). So Coinbase or Gdax + Binance?

[Reality 2,710]

Same questions over and over...

 

[WhiteWonder 2,171]

Same questions over and over...

 

 

how so? im asking 1 specific person so as not to get 5 different people telling me 5 different coin echanges.

[IMMensaMind 459]

How does it create a need to increase taxes?

Because it creates the mechanism to overspend by giving politicians a blank checkbook and inflating currency, and then doesn't make up that difference in a future round of money printing, but by increasing taxes instead.

[IMMensaMind 459]

Because the entire system is reliant on the strength of the black market.

 

Bitcoin is no longer dependent upon the strength of a black market, but I would also tell you that the reason the market is black is because demand for the products on such a market is extremely high.

[twcsux 4]

 

so then, mr non alias (maybe thats typical BS around here but it's not hard to imagine), why would anyone use coinbase rather than GDAX? is it the simple reason that coinbase is more "mainstream" in the sense that you read about it in every CC article?

[twcsux 4]

Nailed it

[twcsux 4]

Coinbase is simple and easy. Click a couple times and you got a coin. Perfect for the average person, non technical. GDAX is actually the original Coinbase.

[iam90sbaby 2,120]

So let me ask directly to the CC master himself, 90sbaby.

 

I want to have the ability to purchase the major CC's as well as dip my toes in the water of something like IOTA. I don't want to have accounts at 8 different CC exchanges.

 

Which 2 do I use? I already have coinbase but would switch to Gdax (likely not Gemini as it doesnt seem to offer LTC). So Coinbase or Gdax + Binance?

Coinbase + Poloniex + Binance for IOTA

[iam90sbaby 2,120]

LTC

[twcsux 4]

Yeah damn

[twcsux 4]

ETH turn now. Seems they are solving the cryptokitty scaling issue.

[tanatastic 2,061]

I wonder where Litecoins new floor for buying should be after this swell.

[twcsux 4]

https://cointelegraph.com/news/cryptokitties-sales-hit-12-million-could-be-ethereums-killer-app-after-all

 

 

Insane $$$ on cats lol

[IMMensaMind 459]

I wonder where Litecoins new floor for buying should be after this swell.

 

Guessing. 150.

[tanatastic 2,061]

Guessing. 150.

Thats always the struggle. Everyone wants to buy low but if you wait for a drop that never comes you are just left in the lurch. Gotta buy high sometimes. Im sure people balked when bitcoin went to 1k, for sure sold when it hit around 5k and are suicidal seeing it hit 15k.

 

Also Im curious when Coinbase will start supporting more coins.

[IMMensaMind 459]

Here's an interesting story:

 

https://www.ethnews.com/amp/moscows-ethereum-voting-system-launches?__twitter_impression=true

[fandandy 3,311]

Would anyone want to do something like this next year?

 

I'm game if we could get enough interest. Check it out 90's and see what you think. We could all invest for the year and see who wins.

 

http://blog.wallstreetsurvivor.com/2017/10/05/custom-leagues-how-to-guide/

[WhiteWonder 2,171]

Coinbase is simple and easy. Click a couple times and you got a coin. Perfect for the average person, non technical. GDAX is actually the original Coinbase.

 

im tech savvy enough to use GDAX, i believe, having checked it out and if the transactions fees are really that much better (.30 versus 1.49) for bank transactions? then I am all for that. Even if I plan to buy and hold, I am still the type of investor who likes to be able to sell at a moments notice and re-buy on a dip.

[iam90sbaby 2,120]

And there goes Litecoin.

[Reality 2,710]

I don't even know what to say anymore, wish I would have bought more is about it I guess...

 

Lord.

[vuduchile 1,940]

I don't even know what to say anymore, wish I would have bought more is about it I guess...

 

Lord.

Ditto

[WhiteWonder 2,171]

And there goes Litecoin.

 

down 12.5% past hour. but yeah its been on a tear.

[iam90sbaby 2,120]

 

 

Bitcoin is backed by nothing.

 

There is a new crypto currency coming out in January...it will be backed by oil. One Oilcoin, will be worth 1 barrel of oil. This is something I can see myself putting some money into. Bitcoin was scary for me at $5000 and is scarier now. Its backed by nothing. That's the problem.

Bitcoin is backed by the technology behind it.

 

A coin that is back by oil is gimmicky and is just making money off the fact that it is technically a crypto. That coin is entirely dependent on the price of oil and youll NEVER see gains in the 1000%+

[Reality 2,710]

 

down 12.5% past hour. but yeah its been on a tear.

Ya think?

[titans&bucs&bearsohmy! 2,745]

A friend of mine said he made $100k last month selling his bitcoin.

 

Hes gotten out of owning coins and now sells and operates miners. He says you can buy a good mine for around $2k. He said after costs, it generates about ¥900 a month right now.

 

Apparently he bought a huge warehouse space in mongolia and is filing it with miners. Says he has about 60 so far. Apparently you have to pick a place with cheap electricity and as much cold weather as possible, to keep cooling costs down.

 

Focking crazy man.