Cryptocurrency

[Cdub100 3,366]

23 minutes ago, RaiderHaters Revenge said:

What the hell happened today. I too almost reached my peak prior to this dive 

Flash crash. Can't pump without dumps.

[edjr 5,547]

1 hour ago, Cdub100 said:

I was going to post how this weekend I surpassed my highest portfolio value. 

Just looked. Lost 100k in value 

so many people are selling - coinbase doesn't have the money to pay people, so they are lying about issues

[Cdub100 3,366]

1 minute ago, edjr said:

so many people are selling - coinbase doesn't have the money to pay people, so they are lying about issues

Coinbase does this every single time. It's one reason why I never recommend them.

[Cdub100 3,366]

Who's buying and selling?

I'm buying more CELR tomorrow. I think it's the next polygon.

[jerryskids 5,169]

Well, I'm officially in the crypto market now. It took some time because (1) the house moved f'd up my home address confirmation which is required for KYC processes for sites like Voyager, and (2) same move combined with busy recovering from chemo has kept me busy.

I bought some stakes in BTC, ETH, and LUNA -- a stable coin from Terra, read about it at this link and it seemed interesting:

https://finance.yahoo.com/news/this-crypto-looking-to-solve-the-sec-crackdown-is-up-6000-in-2021-135816741.html

I don't exactly consider that enough "research;" I want to dig in more and learn about/invest in the underlying charter/project of a coin, not roll the dice and hope it comes up black (yes I mixed my metaphors).

Also I need to look more into the benefits of exchanges like Coinbase and Binance and brokers like Voyager.  Knowing me, the fewer (preferrably one but maybe one of each) I use the better, as I hate managing multiple sites for the (almost) same thing.  

Let's make some money! 

 

[Cdub100 3,366]

13 minutes ago, jerryskids said:

Well, I'm officially in the crypto market now. It took some time because (1) the house moved f'd up my home address confirmation which is required for KYC processes for sites like Voyager, and (2) same move combined with busy recovering from chemo has kept me busy.

I bought some stakes in BTC, ETH, and LUNA -- a stable coin from Terra, read about it at this link and it seemed interesting:

https://finance.yahoo.com/news/this-crypto-looking-to-solve-the-sec-crackdown-is-up-6000-in-2021-135816741.html

I don't exactly consider that enough "research;" I want to dig in more and learn about/invest in the underlying charter/project of a coin, not roll the dice and hope it comes up black (yes I mixed my metaphors).

Also I need to look more into the benefits of exchanges like Coinbase and Binance and brokers like Voyager.  Knowing me, the fewer (preferrably one but maybe one of each) I use the better, as I hate managing multiple sites for the (almost) same thing.  

Let's make some money! 

 

They all have their benefits and you'll have to use multiple exchanges to get the coins you want.

[Cdub100 3,366]

Bags are packed. Ready to go to the moon

Current portfolio.

Ethereum ETH    41.4%
Bitcoin BTC    34.2%
Cardano ADA    7.1%
Polkadot DOT    6.1%
Theta Network THETA    5.0%
VeChain VET    1.7%
Binance Coin BNB    0.9%
Elrond EGLD    0.7%
Celer Network CELR    0.7%
Polygon MATIC    0.3%
Chainlink LINK    0.3%
Voyager Token VGX    0.3%
Crypto.com Coin CRO    0.2%
Shiba Inu SHIB    0.2%
XRP XRP    0.1%
Theta Fuel TFUEL    0.1%
Ravencoin RVN    0.1%
Basic Attention Token BAT    0.1%
 

[MTSkiBum 1,593]

No discussion on China?

I wonder if other countries will follow their lead.

 

[Cdub100 3,366]

3 minutes ago, MTSkiBum said:

No discussion on China?

I wonder if other countries will follow their lead.

 

This is like the 15th time they've banned crypto. Nobody cares, because a country can't ban it. It's impossible.

[jerryskids 5,169]

At this point banning crypto is like banning the internet 20 years ago.  Decentralized finance is the future; there are those who will fight it and those who will profit from it.

We talked to a new finance guy last week from Fidelity; we liked him, he seemed sharp, and we're going to consolidate our non-crypto accounts with him.  I asked him what Fidelity's and his opinions are on crypto; he said Fidelity is still playing nice with the SEC, but that he personally is invested in crypto. 

I had a billion dollar idea the other day, driven more by blockchain than crypto per se, but crypto would tag along. It leverages my wife's work experience and knowledge. Who knows, maybe I'll look into it.   

[jerryskids 5,169]

Quote

Seller of 4 luxury condominiums in Scottsdale will accept bitcoin, other cryptocurrencies as payment

The seller of four luxury condominiums at Optima Camelview Village in Scottsdale is accepting cryptocurrency options.

The Huyde Group, a Scottsdale-based family investment group that is selling the four condominiums, will accept bitcoin and ethereum.

Johnathon De Young, luxury estate specialist with Russ Lyon Sotheby's International Realty who is representing the investment group, said he is marketing each of the four condos separately as turnkey furnished units.

"I can't wait to see how this plays out," De Young said. "There's a good possibility that we'll have our first local transaction using bitcoin or ethereum."

---

Click through the gallery below for a sneak peek inside all four of those luxury condos, ranging in price from $1.61 million to $2.05 million.

 

Jay Carpenter, founder of Tempe-based Desert Blockchain LLC, said it would be likely that cryptocurrency payment for real estate will happen more often in the future as people use it more frequently.

"In addition, many people see cryptocurrency as a way to build wealth," Carpenter said. "Many view bitcoin, ethereum, etc., as a form of a savings account. As their cryptocurrency 'nest eggs' build, purchasing real estate, which is also a form of savings, will be a likely alternative to diversify into using cryptocurrency holdings, in my opinion."

Today, a bitcoin is valued in the market at $42,301, Carpenter said.

That means it would take 10 bitcoins to buy a $420,000 home or 100 bitcoins to purchase a $4.2 million home, "just as 10,000 shares of Apple at $145 per share could conceivably purchase a $1.45 million house if both buyer and seller commonly agree on the value of Apple common stock at any given time," he said.

https://www.bizjournals.com/phoenix/news/2021/09/28/scottsdale-condominium-sale-accepting-bitcoin.html?ana=e_phx_bn_exclusive_exclusive&j=90571301&t=Breaking News&mkt_tok=NjczLVVXWS0yMjkAAAF_zJ7NYNABky74OzHXFeyPVC8HtKeXPgMosnFzX4FHo8TDGDRHb0t1QOADjYrtupJVeHqy9PrlI71N24eWMqc5JEDxeH2S-F2MsigU3VWMxY-5ti7m

[Cdub100 3,366]

The nerds say these next 3 months are going to be wild.

Already up bigly

[Frozenbeernuts 1,652]

Just checking in to remind all the anti bitcoiners how dumb they are

[Cdub100 3,366]

On 9/23/2021 at 11:10 AM, Cdub100 said:

Bags are packed. Ready to go to the moon

Current portfolio.

Shiba Inu SHIB    0.2%

 

Now 0.6% of my portfolio. Got to love those sh1tcoin pumps.

[Hawkeye21 1,848]

I know this isn't directly related to crypto but apparently it's been made popular by people who are big in the crypto scene.  Tungsten cubes are becoming a fad for some reason.  It's very strange.

[Mookz 1,287]

1 hour ago, Hawkeye21 said:

I know this isn't directly related to crypto but apparently it's been made popular by people who are big in the crypto scene.  Tungsten cubes are becoming a fad for some reason.  It's very strange.

 

[Cdub100 3,366]

Get ready... The next few months are going to be a rocket ship.

[Frozenbeernuts 1,652]

60

Waiting for Gutterdunce 

[Cdub100 3,366]

2 hours ago, Frozenbeernuts said:

60

Waiting for Gutterdunce 

I wish I was smart like gutter and sold back in June 

Oh well, I guess I'll just have to deal with mo money, mo problems.

[GutterBoy 2,277]

I'm here, I never sold in June, I never bought.  Congrats to all of you that have made money off this crap. although I know Cdub hasn't because he will never sell.

[Cdub100 3,366]

11 minutes ago, GutterBoy said:

I'm here, I never sold in June, I never bought.  Congrats to all of you that have made money off this crap. although I know Cdub hasn't because he will never sell.

 Oh sh1t... That's actually pretty good.

[MLCKAA 395]

I don’t understand crypto.  What is the underlying basis of value?

[Frozenbeernuts 1,652]

4 minutes ago, MLCKAA said:

I don’t understand crypto.  What is the underlying basis of value?

Scarcity. The rails to run the entire world's financial system with the fastest and most efficient technology ever devised. No one group or person can change the policy for their benefit. Every individual node has the same say in how the protocol operates 

[MLCKAA 395]

2 minutes ago, Frozenbeernuts said:

Scarcity. The rails to run the entire world's financial system with the fastest and most efficient technology ever devised. No one group or person can change the policy for their benefit. Every individual node has the same say in how the protocol operates 

The above means absolutely nothing to me.  But, thanks.

[GutterBoy 2,277]

11 minutes ago, MLCKAA said:

I don’t understand crypto.  What is the underlying basis of value?

Absolutely Nothing

[GutterBoy 2,277]

1 minute ago, MLCKAA said:

The above means absolutely nothing to me.  But, thanks.

These crypto zombies will throw every argument at it, but in reality, it is absolutely nothing.

To it's credit, it's gone up a zillion percent for basically being nothing, but it is in fact a giant bubble that will eventually have to pop.  That could take 10 weeks, 10 months, 10 years, could be at $70k, $100k, $500k, nobody knows.

[Frozenbeernuts 1,652]

2 minutes ago, MLCKAA said:

The above means absolutely nothing to me.  But, thanks.

Ok well it doesn't matter either way. It will become a lot more valuable over time

[nobody 2,031]

21 minutes ago, MLCKAA said:

I don’t understand crypto.  What is the underlying basis of value?

People love it.  That's the underlying value.

By the way, don't listen to frozenbeernuts on the topic.  Listen to cdub if you want the pro-crypto perspective.

[GutterBoy 2,277]

20 minutes ago, nobody said:

People love it.  That's the underlying value.

By the way, don't listen to frozenbeernuts on the topic.  Listen to cdub if you want the pro-crypto perspective.

Cdub is definitely more practical, my problem with him is that he never sells.  You need to trade this to lock in gains.

[Cdub100 3,366]

45 minutes ago, MLCKAA said:

I don’t understand crypto.  What is the underlying basis of value?

Depends on the crypto you're talking about. For example, Bitcoin and Etherium are both considered cryptos, but wildly different in the value they bring.

[Cdub100 3,366]

1 minute ago, GutterBoy said:

Cdub is definitely more practical, my problem with him is that he never sells.  You need to trade this to lock in gains.

I probably should take profit, but I've decided my long-term strategy is to hold and collect interest on my cryptos. At some point (IF) I need some money I would take a loan against my crypto assets. That way I'm not paying taxes on profit, I still own my assets and continue to capture the growth.

The other reason I don't sell is crypto is traded 24/7/365. It moves so fast and so explosively by the time I'm ready buy/sell I may have missed the pump. So I don't even play that game. I just wait. I absolutely lose out in some ways by not trading, but long term, for me, it's the best strategy (for me).

Every Monday morning I go through all my accounts and update my tracker. I love clicking the transfer button and seeing I'm getting closer and closer to replacing my weekly salary with crypto interest payments.

God bless those of you who trade. It's just not for me.

[Cdub100 3,366]

32 minutes ago, nobody said:

People love it.  That's the underlying value.

By the way, don't listen to frozenbeernuts on the topic.  Listen to cdub if you want the pro-crypto perspective.

I wish we still had bottom sigs I would frame this post 

[MLCKAA 395]

4 hours ago, Cdub100 said:

Depends on the crypto you're talking about. For example, Bitcoin and Etherium are both considered cryptos, but wildly different in the value they bring.

…aaaaand the underlying basis of their value is what?  My very remedial understanding of cryptocurrency is that someone initially said “ Hey, this is money.”  Other accepted that statement and mimicked it, creating other cyber-monies.  Now there are a bunch and their values jump around wildly, but no one can actually tell you what their value is based on.  It’s valuable because it’s scarce?  It’s intangible, so don’t tell me it’s scarce. 

[Cdub100 3,366]

47 minutes ago, MLCKAA said:

…aaaaand the underlying basis of their value is what?  My very remedial understanding of cryptocurrency is that someone initially said “ Hey, this is money.”  Other accepted that statement and mimicked it, creating other cyber-monies.  Now there are a bunch and their values jump around wildly, but no one can actually tell you what their value is based on.  It’s valuable because it’s scarce?  It’s intangible, so don’t tell me it’s scarce. 

I'd like to help you, but we have to narrow down what you want to talk about? Your question is too broad.

So let us start with Ethereum. Think of ETH as a programing language. You can write code using the ETH network. You've heard of NFTs right? Those NBA cards, art, games, defi, music etc... (that is a whole different conversation) but most of those are run on the ETH network. Right now, the ETH network isn't powered by servers located in a warehouse in San Fran. The network is powered by people "mining." The miners are providing hash power to the network and depending on how much hash a miner provides they are paid out in ETH "coin". (Mining is also a whole different discussion) What's important for you to know is it takes ethereum coins to participate on the etheruem network.

So why does ETH have value? It's not because of its scarcity it's because of the network it provides, the code you can write on it, and the fact people have been and continue to build software on that network. It has value because people are willing to use electricity and machines to power that network. Don't think of ETH as a coin. Don't let that vernacular fool you into believing it is something it's not.

[MLCKAA 395]

26 minutes ago, Cdub100 said:

I'd like to help you, but we have to narrow down what you want to talk about? Your question is too broad.

So let us start with Ethereum. Think of ETH as a programing language. You can write code using the ETH network. You've heard of NFTs right? Those NBA cards, art, games, defi, music etc... (that is a whole different conversation) but most of those are run on the ETH network. Right now, the ETH network isn't powered by servers located in a warehouse in San Fran. The network is powered by people "mining." The miners are providing hash power to the network and depending on how much hash a miner provides they are paid out in ETH "coin". (Mining is also a whole different discussion) What's important for you to know is it takes ethereum coins to participate on the etheruem network.

So why does ETH have value? It's not because of its scarcity it's because of the network it provides, the code you can write on it, and the fact people have been and continue to build software on that network. It has value because people are willing to use electricity and machines to power that network. Don't think of ETH as a coin. Don't let that vernacular fool you into believing it is something it's not.

Thank you.  For now, I don’t wish you were dead.

Back up for a minute.  Treat this conversation like a contract and start with a list of definitions.  You just used some terms that you should define to help me understand.  Mining, hash power.  I’m sure there will be others, so maybe lay them out.

[Cdub100 3,366]

1 minute ago, MLCKAA said:

Thank you.  For now, I don’t wish you were dead.

Back up for a minute.  Treat this conversation like a contract and start with a list of definitions.  You just used some terms that you should define to help me understand.  Mining, hash power.  I’m sure there will be others, so maybe lay them out.

Mining - the term used by people who are supplying equipment to process information on the network. 

Hash power - how fast the equipment the miners are using can process that data on the network. The more hash the faster/more secure the network can operate.

For example here is a snap shot of two of my miners https://ibb.co/R2CY3HR

Looking at that I need to check on that miner I think a few gpus aren't functional.

[MLCKAA 395]

23 minutes ago, Cdub100 said:

Mining - the term used by people who are supplying equipment to process information on the network. 

Hash power - how fast the equipment the miners are using can process that data on the network. The more hash the faster/more secure the network can operate.

For example here is a snap shot of two of my miners https://ibb.co/R2CY3HR

Looking at that I need to check on that miner I think a few gpus aren't functional.

Thanks again, but this learning curve is too sharp for me.  For that reason, I’m out.

 Be sure not to give this unequal time— you’ll be dead before you know it.

[Cdub100 3,366]

1 minute ago, MLCKAA said:

Thanks again, but this learning curve is too sharp for me.  For that reason, I’m out.

 Be sure not to give this unequal time— you’ll be dead before you know it.

Am I missing something do we have beef?

[MLCKAA 395]

6 minutes ago, Cdub100 said:

Am I missing something do we have beef?

No, not at all.  You may be misinterpreting me somehow.  The crypto is just too outside my realm.  

[Cdub100 3,366]

14 minutes ago, MLCKAA said:

No, not at all.  You may be misinterpreting me somehow.  The crypto is just too outside my realm.  

Well between the for now im not wishing I wish you're dead and I'll be dead before I know it. I wasn't sure.