Cryptocurrency

[WhiteWonder 2,734]

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%+

 

true. i understand what he was getting at but using a coin backed by oil automatically eliminates the hype and buzz thats been creating the current rapid uptick on CC prices..... which, everything else aside, really boils down to people buying in for the ride and the massive USD gains more so than their belief or knowledge in blockchain, etc. Oil is... well.... oil. It's not sexy.

 

there is very much a reason why the price of some of these CC's is up astronomically in the past year alone..... Hype. It hasn't just gone from being in an infancy phase to being the be all, end all that quickly to where current valuation is actually reflected in its current capabilities. Its current valuation is based on buzz words and the fact that you open up any news or finance/news page and its all CC's all the time. Remember that in 2016 or early 2017? of course not.

 

again, I am not attempting to take away from the legitmacy of the technology, but I think even the biggest CC trumpeteer would have to admit that right now, prices are in a vortex of media driven hype.

[RaiderHaters Revenge 4,348]

anyone heard of PotCoin? I was listening to an older Adam Carolla podcast today, and he mentioned it, they paid for Rodman to goto NK recently

[Frozenbeernuts 2,264]

I finally got some bitcoin transferred to Binance yesterday. Took that and distributed it among IOTA, ZRX, XMR, and WTC. A buddy of mine has given me a few to invest in. I put the most in 90s recommendation, IOTA.

[Frozenbeernuts 2,264]

90s, please guarantee IOTA goes to 100

[Alias Detective 1,400]

I want everyone to know I am posting this with sour grapes. You can see my posts earlier in the thread.

 

PLEASE understand making money in any investment is a risk. Never risk more than you can stand to lose and taking some profit is seldom a bad idea.

[Scary Gary 19]

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"?

 

 

 

 

Oil has intrinsic value. Its worth something. If it disappears tomorrow, we are all focked.

If the banking system based on cash disappears, we are focked.

If medicine disappears, we are focked.

 

If bitcoin disappears....??? Meh. So what?

 

 

[titans&bucs&bearsohmy! 2,745]

So I am seriously thinking about buying a mining machine.

 

Cost is about $2k. After costs, at current prices, generates me about $900 a month. My friend says he will put it in his place with his 60 machines.

Am I completely insane? Kinda wanna dip my toe in, see how it goes, and let the first machine pay for a possible second.

[Gladiators 1,987]

So I am seriously thinking about buying a mining machine.

 

Cost is about $2k. After costs, at current prices, generates me about $900 a month. My friend says he will put it in his place with his 60 machines.

Am I completely insane? Kinda wanna dip my toe in, see how it goes, and let the first machine pay for a possible second.

 

Sounds like the modern-day gold rush. What do you have to lose? $2k isn't much and even if it doesn't work out, you can sell the mining machine, right?

[Scary Gary 19]

You guys are 80% nuts.

If making money was as simple as buying a few "machines" for 2k....the world would be doing it.

[IMMensaMind 462]

Oil has intrinsic value. Its worth something. If it disappears tomorrow, we are all focked.

That doesn't have a thing to do with the benefit of an 'oilcoin'. I asked 'why would you invest in such a thing'? It's no different than merely investing in oil.

 

If the banking system based on cash disappears, we are focked.

Why? Cryptocurrency can rather seamlessly fill that void. In fact, that's what I think is going to happen.

 

If medicine disappears, we are focked.

Ok, now you're going far afield. All sorts of things can 'fock' us.

 

If bitcoin disappears....??? Meh. So what?

 

I think you missed my point. If cell phones "disappeared" shortly after appearing, the reaction would have been the same. You have not figured out the reason that this is exploding, nor its future utility.

[vuduchile 1,945]

Bitwise raises $4M to start crypto ETF.

Lets see what the SEC does with this one

 

https://www.yahoo.com/finance/news/bitwise-investments-raises-4m-launch-120055602.html

 

Heres the open letter from the chairman of the sec

 

 

https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11

[IMMensaMind 462]

LTC. $360. I was in @ ~$54 5 weeks ago. Holy sheet.

 

[Alias Detective 1,400]

You guys are 80% nuts.

 

If making money was as simple as buying a few "machines" for 2k....the world would be doing it.

 

Make hay while the sun shines. Don't begrudge them for taking risk and making money, advise them to take some profit instead.

[iam90sbaby 2,610]

You guys are 80% nuts.

If making money was as simple as buying a few "machines" for 2k....the world would be doing it.

 

 

 

Oh well. Guess we will keep being nuts, has worked the last three years.

[iam90sbaby 2,610]

90s, please guarantee IOTA goes to 100

 

We are definitely going to make some money on this one.

[IMMensaMind 462]

We are definitely going to make some money on this one.

 

Haven't gotten into IOTA as yet. Been doing reading about it; very interesting.

[iam90sbaby 2,610]

Haven't gotten into IOTA as yet. Been doing reading about it; very interesting.

 

You should grab some. Typically when Bitcoin flies up the way it has the last month once there is a selloff people then will go to LTC and ETH and the other majors. But after that it seems like those same people become more knowledgeable about cryptos (kinda of like what you are seeing right here on these forums) and then once they sell off their ETH and LTC it usually goes to all the other top 25-30 alt coins. You are seeing LTC and ETH fly up right now and there is about to be a sell off.

[Reality 3,121]

LTC. $360. I was in @ ~$54 5 weeks ago. Holy sheet.

 

 

About where I am, in @ 57 for several months.

 

There will have to be a selloff soon but, damn, pretty insane.

 

Wish I would have used more than my play money though.

 

And just checked.... $412...

 

 

Edit - Then right to 373, I may have read that wrong..

[Scary Gary 19]

I get that you are making money. I get it. And that's good. It reminds me of MLM. Making money off the next guy who hopes to make money. Is it like that? I don't know. My eye test says it is. I've told people in MLM that...and they reply with "But I'm making money". Which I get. They were. At some point. If they take their profits and get out...its the NEXT guy that loses. The guy that gets in at the end. Or "too late".

I get it. Don't act like I don't get it. I'm 44, have 770k in my edward jones account, 300k in cash and checking, house paid for, two 2017 vehicles (Ford Raptor and Chevy Tahoe) paid for, and I own a life insurance policy on someone worth 200k. I'm not a dummy. None of this was inherited. None.

I hope you knock the crap out of bitcoin and make some huge profits.

Oh...and yes...I know, the stock market (where I've made about half my money) is kinda like a big MLM game also. But....the difference is, the stocks (mutual funds to be exact) are backed by companies that sell product and are (hopefully) producing profit. Actually, the stock market is closer to a big poker game, vs mlm. Its still a risk I'm willing to take. Bitcoin isn't.

And the more I think of it, the Oilcoin I mentioned, I prolly won't even purchase that. If I want to "own" anything to with oil, (I already have a ton of oil stocks), I guess it would make more sense to buy more oil stocks.

I asked about marijuana stocks on here the the other day. I do think there is money to be made in marijuana stocks. It's just...for every company that makes money, 20 will lose or fail.

 

 

At what point are you guys going to take your profits in bitcoin?

[iam90sbaby 2,610]

I get that you are making money. I get it. And that's good. It reminds me of MLM. Making money off the next guy who hopes to make money. Is it like that? I don't know. My eye test says it is. I've told people in MLM that...and they reply with "But I'm making money". Which I get. They were. At some point. If they take their profits and get out...its the NEXT guy that loses. The guy that gets in at the end. Or "too late".

I get it. Don't act like I don't get it. I'm 44, have 770k in my edward jones account, 300k in cash and checking, house paid for, two 2017 vehicles (Ford Raptor and Chevy Tahoe) paid for, and I own a life insurance policy on someone worth 200k. I'm not a dummy. None of this was inherited. None.

I hope you knock the crap out of bitcoin and make some huge profits.

Oh...and yes...I know, the stock market (where I've made about half my money) is kinda like a big MLM game also. But....the difference is, the stocks (mutual funds to be exact) are backed by companies that sell product and are (hopefully) producing profit. Actually, the stock market is closer to a big poker game, vs mlm. Its still a risk I'm willing to take. Bitcoin isn't.

 

And the more I think of it, the Oilcoin I mentioned, I prolly won't even purchase that. If I want to "own" anything to with oil, (I already have a ton of oil stocks), I guess it would make more sense to buy more oil stocks.

 

I asked about marijuana stocks on here the the other day. I do think there is money to be made in marijuana stocks. It's just...for every company that makes money, 20 will lose or fail.

 

 

At what point are you guys going to take your profits in bitcoin?

 

The world has never seen anything like cryptos or the technology behind it. I saw some old dude on a CryptoManiaks video the other week comparing the crypto "bubble" to the tulip bubble of the 1700s or 1600s.....what the fock? You are perceiving these cryptos as a get rich quick scheme and not realizing how extraordinary the technology is behind it it is completely lost on you. This is bigger than the car, the computer, the mobile phone, GPS. Every major invention you have seen in your lifetime is NOTHING I mean NOTHING in comparison to blockchain technology. You'd only have to invest less than 1% of your savings/checking to have the opportunity to make thousands and thousands of dollars it seems silly to me at this point not to take the risk. All of us knocking homers out of the focking park and a lot have sold our original investment and it is all house money at this point.... why wouldn't you?

 

Yeah don't invest in the Oilcoin.

 

As far as my crypto profits...never. I told myself a year ago I am in this for the long haul and my crypto accounts will only start to diminish once I can actually pay for real world items with my crypto. Completely removed from the dollar. So never.

[WhiteWonder 2,734]

Definitely admit I wish I had thrown some at LTC. It was about 30 when I pondered doing it. Ouch

[iam90sbaby 2,610]

Definitely admit I wish I had thrown some at LTC. It was about 30 when I pondered doing it. Ouch

 

Call 1-800-273-8255

[IMMensaMind 462]

Couple of things about IOTA I'd like to talk through here.

 

I posted a while ago about having to consider the number of coins in circulation to give you some idea of the value of each CC to one another, and - from there - you can at least better determine for yourself which holds the most potential for growth from the present valuation.

 

There are a whole lot more IOTA around than there are BTC - by necessity, considering the purpose of IOTA. IOTA and BTC are totally different in far more important ways beyond available tokens though.

 

IOTA is not technically a blockchain in the same sense that BTC, LTC or even ETH are. IOTA is specifically created software - based upon a layered protocol called 'Tangle' - which allows 'microcontracts' (or, small exchanges of data without overhead "cost") between devices.

 

To me, it is reminiscent of the scene in Minority Report where the Tom Cruise character is walking through the retail area, and the displays react to his presence and customize - instantly - their responses to the data/info he represents. I'm seeing IOTA literally as oil in the engine of the Internet of Things (hence the name, which is really clever: it is a very small software package - an iota - that makes the Internet of Things work).

 

So I don't doubt the value of the technology. I can see how indispensable is about to be in the upcoming 10 years. That's not my concern. I'm concerned about how it makes money. How does it make money? With true CCs; the value of them is based upon the value of the tangible services transacted with them, just as the dollar is. IOTA doesn't appear to be a true CC in the same sense; its value is found in creating costless transactions between nodes on a network - and the IoT is going to have literally trillions of nodes in the future. Anything with any utility will be a node. It's all going to be connected, IMO.

 

Is IOTA going to receive licensing fees for its use in the IoT? These are things I don't know, so I'm having real trouble figuring out the value of IOTA in the future.

[Reality 3,121]

 

The world has never seen anything like cryptos or the technology behind it. I saw some old dude on a CryptoManiaks video the other week comparing the crypto "bubble" to the tulip bubble of the 1700s or 1600s.....what the fock? You are perceiving these cryptos as a get rich quick scheme and not realizing how extraordinary the technology is behind it it is completely lost on you. This is bigger than the car, the computer, the mobile phone, GPS. Every major invention you have seen in your lifetime is NOTHING I mean NOTHING in comparison to blockchain technology. You'd only have to invest less than 1% of your savings/checking to have the opportunity to make thousands and thousands of dollars it seems silly to me at this point not to take the risk. All of us knocking homers out of the focking park and a lot have sold our originally investment and it is all house money at this point.... why wouldn't you?

 

Yeah don't invest in the Oilcoin.

 

As far as my crypto profits...never. I told myself a year ago I am in this for the long haul and my crypto accounts will only start to diminish once I can actually pay for real world items with my crypto. Completely removed from the dollar. So never.

 

 

 

Watching pure profit make money. Beautiful thing..

[iam90sbaby 2,610]

Couple of things about IOTA I'd like to talk through here.

 

I posted a while ago about having to consider the number of coins in circulation to give you some idea of the value of each CC to one another, and - from there - you can at least better determine for yourself which holds the most potential for growth from the present valuation.

 

There are a whole lot more IOTA around than there are BTC - by necessity, considering the purpose of IOTA. IOTA and BTC are totally different in far more important ways beyond available tokens though.

 

IOTA is not technically a blockchain in the same sense that BTC, LTC or even ETH are. IOTA is specifically created software - based upon a layered protocol called 'Tangle' - which allows 'microcontracts' (or, small exchanges of data without overhead "cost") between devices.

 

To me, it is reminiscent of the scene in Minority Report where the Tom Cruise character is walking through the retail area, and the displays react to his presence and customize - instantly - their responses to the data/info he represents. I'm seeing IOTA literally as oil in the engine of the Internet of Things (hence the name, which is really clever: it is a very small software package - an iota - that makes the Internet of Things work).

 

So I don't doubt the value of the technology. I can see how indispensable is about to be in the upcoming 10 years. That's not my concern. I'm concerned about how it makes money. How does it make money? With true CCs; the value of them is based upon the value of the tangible services transacted with them, just as the dollar is. IOTA doesn't appear to be a true CC in the same sense; its value is found in creating costless transactions between nodes on a network - and the IoT is going to have literally trillions of nodes in the future. Anything with any utility will be a node. It's all going to be connected, IMO.

 

Is IOTA going to receive licensing fees for its use in the IoT? These are things I don't know, so I'm having real trouble figuring out the value of IOTA in the future.

 

https://www.reddit.com/r/Iota/comments/6trsvt/how_does_iota_make_money/

 

Remember YouTube, most social networks Amazon and other huge companies weren't even profitable until the last few years. The technology is there and I trust the people working on it to figure it out.

[drobeski 3,061]

How again do i use some of what i have in coinbase to get IOTA ?

[edjr 6,580]

How again do i use some of what i have in coinbase to get IOTA ?

 

Lets have a bitcoin poker game

[iam90sbaby 2,610]

How again do i use some of what i have in coinbase to get IOTA ?

 

Use Mookz Binance link, setup an account. Deposit BTC into the Binance account and buy IOTA with BTC. Should only take you 10-15 minutes.

[nobody 2,671]

One thing that makes me feel really good about bitcoin is that when I watch cnbc, they have no clue about the basics of bitcoin. They don't even understand what the function of miners are. So you can't take the constant poo-pooing seriously.

 

Of course, it would help if they ever had anyone on the program that could actually answer a question succinctly. That seems to be a common theme with bitcoin buyers though. Maybe no one really understands it all that well.

 

She asks what is the purpose of a miner and the bitmining company ceo guy says, "the block chain is really amazing technology! It's a decentralized processing system so that's why you need miners. Miners are essential to bitcoin." That's some Phil Simms commentary.

 

I mean yeah that's true. But it's skipping from A to Z. The talking heads on cnbc have no idea what block chain is. None. You have to explain it like you're talking to a 4th grader.

[edjr 6,580]

Litecoin buys and sells are temporarily disabled

Litecoin buys and sells are temporarily disabled. We apologize for any inconvenience.

[Reality 3,121]

ETH was feeling left out..

[vuduchile 1,945]

Holy cryptonite Batman!

[drobeski 3,061]

 

Use Mookz Binance link, setup an account. Deposit BTC into the Binance account and buy IOTA with BTC. Should only take you 10-15 minutes.

thank you

[tanatastic 2,062]

Litecoin buys and sells are temporarily disabled

Litecoin buys and sells are temporarily disabled. We apologize for any inconvenience.

At this point its painfully obvious that they do this on purpose to prevent sell offs during big swells. The subreddit is going crazy over it.

 

Lol LTC up 100% in one day. 100!

[iam90sbaby 2,610]

At this point its painfully obvious that they do this on purpose to prevent sell offs during big swells.

 

Lol LTC up 100% in one day. 100!

 

Annoying but kind of glad they do that.

If you want to avoid that in the future get Poloniex and you can sell immediately and transfer into USDT (Tether) which is always the current value of USD.

[WhiteWonder 2,734]

 

Use Mookz Binance link, setup an account. Deposit BTC into the Binance account and buy IOTA with BTC. Should only take you 10-15 minutes.

Can you do it with LTC rather than BTC?

[twcsux 4]

At this point its painfully obvious that they do this on purpose to prevent sell offs during big swells. The subreddit is going crazy over it.

 

Lol LTC up 100% in one day. 100!

GDAX is your friend

[iam90sbaby 2,610]

Can you do it with LTC rather than BTC?

 

Not sure. I am pretty sure I remember reading vudu did with ETH so I don't see why not. When I make purchase with alt coins I always use BTC. I don't like to get rid of Ethereum or any of the smaller ones with more growth potential.

[WhiteWonder 2,734]

Couple of things about IOTA I'd like to talk through here.

 

I posted a while ago about having to consider the number of coins in circulation to give you some idea of the value of each CC to one another, and - from there - you can at least better determine for yourself which holds the most potential for growth from the present valuation.

 

There are a whole lot more IOTA around than there are BTC - by necessity, considering the purpose of IOTA. IOTA and BTC are totally different in far more important ways beyond available tokens though.

 

IOTA is not technically a blockchain in the same sense that BTC, LTC or even ETH are. IOTA is specifically created software - based upon a layered protocol called 'Tangle' - which allows 'microcontracts' (or, small exchanges of data without overhead "cost") between devices.

 

To me, it is reminiscent of the scene in Minority Report where the Tom Cruise character is walking through the retail area, and the displays react to his presence and customize - instantly - their responses to the data/info he represents. I'm seeing IOTA literally as oil in the engine of the Internet of Things (hence the name, which is really clever: it is a very small software package - an iota - that makes the Internet of Things work).

 

So I don't doubt the value of the technology. I can see how indispensable is about to be in the upcoming 10 years. That's not my concern. I'm concerned about how it makes money. How does it make money? With true CCs; the value of them is based upon the value of the tangible services transacted with them, just as the dollar is. IOTA doesn't appear to be a true CC in the same sense; its value is found in creating costless transactions between nodes on a network - and the IoT is going to have literally trillions of nodes in the future. Anything with any utility will be a node. It's all going to be connected, IMO.

 

Is IOTA going to receive licensing fees for its use in the IoT? These are things I don't know, so I'm having real trouble figuring out the value of IOTA in the future.

I could be way off but I feel like a decent comparison for IOTA is ETH. It may not be bock chain but it is a currency used to transact on a network loke ETH is used to build on the ethereum platform... no?

 

I never got the sense that people would be buying cups of coffee with ETH like they might with BTC or LTC.

 

Always thought the value was tied to the demand for usage of the ethereum network...

[tanatastic 2,062]

GDAX is your friend

Same place. No reason they wouldnt be down too.