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Cryptocurrency


ADegenerate
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My buddy made 1.6m off of them. Mined them from the get go. I used to play poker on a bitcoin website back when one coin was around $500 and learned about them. I told everyone I knew that it was going to blow up...unfortunately I needed the cash and couldn't keep my 10. My poker buddy kept the 26 coins he won and another 6. Fortunately, I was was able to pay off my student loan last summer though and doubled my money on the loan I took out...again confident it would blow up. At this point...you may be right but I think it's primed for a jump at least one more time. I think the days of meteoric insane instant gains are over but long term I still a profit.

The tech is great and I'd still personally advise to pick up a small bag and see how you feel. 

 

I picked up 2x in bitcoin and 1x in ethereum. Ethereum might be primed for one of those insane jumps but I'm not expecting it.

Edited by ADegenerate
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I have been following for awhile. A few clients have asked about it. Personally, I think there is merit to the idea but right now the concept is being perfected and not sure if any of the current companies will survive. I see a big giant (JPMorgan Chase or similiar) coming in when the time is right. I wouldn't call it investing at this stage but more like speculating.

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On 9/17/2018 at 11:07 AM, Reacher said:

I have been following for awhile. A few clients have asked about it. Personally, I think there is merit to the idea but right now the concept is being perfected and not sure if any of the current companies will survive. I see a big giant (JPMorgan Chase or similiar) coming in when the time is right. I wouldn't call it investing at this stage but more like speculating.

It’s open sourced and free. There are no big companies that run it or dictate what happens with it. That’s one of many many  appeals. I’ve been around this stuff for many years  and gambling for over a decade. You’ll notice I jumped in again recently and posted about Ethereum primed for a big pump. We jumped up 14% today! The major coins are insanely undervalued right now! It’s speculation but I’m very well intrenched in this arena. I’m still advising people to invest. Seriously. So much money to be made. I’m not at all guaranteeing any insane 100-300% jumps in the next 5 months but I’m also not saying that that it won’t happen....I think Ethereum is 10x more like my to hit $400 than it is to hit $100 and we’re at $245. I value Ethereum at about $500-700. If you’re on the fence GTF in! If you’re curious look into it! Bitcoin / litecoin / Ethereum are very safe right now. Remember don’t gamble with money you can’t afford to lose...

Edited by ADegenerate
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38 minutes ago, BDB said:

How does one get started doing this?

Coinbase is the easiest site. 

https://www.coinbase.com/

 

Please, please make sure you're ready for some potentially wild swings. It's calmed down to a degree but the volatility of it is to be expected. I'd be prepared to 'hold' for a least a few months if you get in. Do not be one of the few that actually lose money here by panicking! If you think you want to get it, make sure you're ready to stay!  

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  • 1 month later...

Warren Buffet calls it pure FOMO.  The actual "currency" is backed by nothing. Appreciation is based on the greater fool theory.

All my opinions and I've been mocked for them in other forums but I see no intrinsic value here. At least fiat currencies are backed by governments with taxing authority. I get that a big part if the appeal is that no government is involved, but that also means there's no government backing and nothing except faith to support valuations. 

The blockchain technology is the valuable part here, IMO.  Figure out who can effectively harness that and invest there. That's my advice.

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On 11/26/2018 at 3:02 AM, FKIM01 said:

Warren Buffet calls it pure FOMO.  The actual "currency" is backed by nothing. Appreciation is based on the greater fool theory.

All my opinions and I've been mocked for them in other forums but I see no intrinsic value here. At least fiat currencies are backed by governments with taxing authority. I get that a big part if the appeal is that no government is involved, but that also means there's no government backing and nothing except faith to support valuations. 

The blockchain technology is the valuable part here, IMO.  Figure out who can effectively harness that and invest there. That's my advice.

With that....we got this

https://www.investinblockchain.com/ohio-accepts-bitcoin-for-tax-payments/

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3 minutes ago, rico said:

I think they are N-U-T-S nuts! nuts! NUTS! to do this.  I'm sure they intend to convert to dollars quickly, but what if Bitcoin moves 10% against them before they get payments converted?  Way too volatile at this point to accept as a form of payment unless you are willing to speculate on Bitcoin.  I could see Ohio taxpayers not very happy if that experiment goes the wrong direction and causes budget cuts, etc.

Of course, as this is proposed, I'm guessing very little revenue comes in the form of Bitcoin since it's just for business payments right now.  That gives them time to experiment and shut it off if it looks unstable.  In my opinion, it's going to be awhile before Bitcoin is stable enough to really use effectively in commerce.

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2 minutes ago, FKIM01 said:

I think they are N-U-T-S nuts! nuts! NUTS! to do this.  I'm sure they intend to convert to dollars quickly, but what if Bitcoin moves 10% against them before they get payments converted?  Way too volatile at this point to accept as a form of payment unless you are willing to speculate on Bitcoin.  I could see Ohio taxpayers not very happy if that experiment goes the wrong direction and causes budget cuts, etc.

Of course, as this is proposed, I'm guessing very little revenue comes in the form of Bitcoin since it's just for business payments right now.  That gives them time to experiment and shut it off if it looks unstable.  In my opinion, it's going to be awhile before Bitcoin is stable enough to really use effectively in commerce.

Didn't say I agreed with it!!!!  LOL  I just heard it on the news today.  Strange to say the least, but I don't live in Ohio!

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3 minutes ago, rico said:

Didn't say I agreed with it!!!!  LOL  I just heard it on the news today.  Strange to say the least, but I don't live in Ohio!

Someday, cryptocurrency may very well evolve into a stable form of payment, but right now it's anything but.  It's simply a tool to speculate, which is fine if you accept that.  I'm just amazed that a government entity would embrace it at this stage in the game.

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  • 3 weeks later...

Tread carefully. One of the side notes to the new bit/block currency is that the development of applicable law is behind (laws generally lag behind technology). Laws that regulate notes/drafts (checks) and securities, electronic fund transfers, wire transfers and the like were drafted for those forms of transactions, which leaves uncertainty which further fosters speculation and questions on actual valuation not to mention lots and lots of risk. This is my area of law, I represent a number of those banks / financial institutions in negotiable instruments / electronic funds litigation and draft deposit and treasury management services agreements for the banks. The wild west analogy is being kind.

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