Ask me about Bitcoin/Crypto investing

[NorthSky]

Other than the price moving in a parabolic upward trend, what are the “benefits” of bitcoin as compared with other assets, money, currency or media of exchange?

An interesting article.

▪ https://www.investopedia.com/ask/answers/100314/why-do-bitcoins-have-value.asp

We have been programmed to work and earn money.
Some of us work for others, others for themselves, and then you have the founders of the Federal Reserve, the fathers who benefit mainly for themselves while the rest of us:
99.99999999999999999999999999999999999999999999999999999999999% make sure our fathers get all the benefits. They are not truly our fathers, they are more like master crooks.

All the things going wrong in the world can be attributed by miss management; of the money, resources, power distribution, slavery, abuse, corruption, inequalities.

Bitcoin is just an opening through the portal of freedom, the gate of heavens, the new grid of the internet loophole, for all the rest of us; very poor, poor, middle poor, middle class, high class, elite, scums, hackers, drug dealers, sinners from all walks of life. It's a figure of speech, with a slight touch of humor to make it more digestible.

Bitcoin is what we're made of. It's our way to fight neutrality and have ambition to make Earth great again. It has no guarantee others than what we're ready to invest with the full knowledge of losing it all. The upside of that coin is what makes it extremely attractive.

 

[NorthSky]

Yep, volume has gone up, too.

1 Bitcoin equals 21386.10 Canadian Dollar (right now)

 

[watchnerd]

Bitcoin is just an opening through the portal of freedom, the gate of heavens, the new grid of the internet loophole, for all the rest of us; very poor, poor, middle poor, middle class, high class, elite, scums, hackers, drug dealers, sinners from all walks of life. It's a figure of speech, with a slight touch of humor to make it more digestible.

Bitcoin is what we're made of. It's our way to fight neutrality and have ambition to make Earth great again. It has no guarantee others than what we're ready to invest with the full knowledge of losing it all. The upside of that coin is what makes it extremely attractive.

I might believe some of that if you could actually widely use Bitcoin to purchase things, but as a widely available medium of exchange it has massively failed.

Instead, it has turned into a store of value with 1000 holders having 40% of the wealth. How is that a new paradigm?

Sounds like the same old 'rich get richer' to me...

 

[Wombat]

When bit coin issue reaches 21 million will there just be another issue, say, Two-bit Coin?

History shows many instances of greed-driven flops. 'If it is too good to be true ............".

If crypto-currency succeeds then it should normalise to something like traditional currency systems in terms of returns and taxation.

 

[NorthSky]

• https://www.bloomberg.com/news/arti...s-how-to-get-bitcoin-exposure-without-baggage

• http://www.smh.com.au/business/mark...-much-as-20-times-higher-20171209-p4yxl3.html

 

[NorthSky]

1 Bitcoin equals 21759.60 Canadian Dollar

 

[dallasjustice]

 

[RayDunzl]

This evening, a little minute-by-minute...

 

[NorthSky]

Probably some low-life hacker being wacked. It's only a very minimal normality of life, nothing to even breathe about.

 

[watchnerd]

Probably some low-life hacker being wacked. It's only a very minimal normality of life, nothing to even breathe about.

Speculation I read is that it's because Coinbase announced they're going to support Bitcoin Cash.

 

[NorthSky]

Speculation I read is that it's because Coinbase announced they're going to support Bitcoin Cash.

The thing with Bitcoin is it gives a major boost to many players in other similar transactions. Bitcoin is getting old around the block, other kids are reaching much higher steps, every single day. Bitcoin is changing every day, slowing now, extremely slow, it can take six hours to have a transaction processed. Best to store it and forget it. It's not for play, it's to hide.

This is as real as the news we read everyday on the news channels.
They are rich, super rich, like Netflix, like Amazon, like Disneyland.
It makes the economy spin, roll with the flow.

Tomorrow we'll read an Irishman sold his bitcoins and two Frenchmen bought twice as much. Yesterday we'll find out that tomorrow was not coming soon enough. By the end of this month one Bitcoin will be worth $27,000 USD, a thou more or less.

But yes, you are right:

• https://cointelegraph.com/news/coinbase-adds-bitcoin-cash-as-price-soars-bitcoin-dips

 

[NorthSky]

Insider trading irregularities...

• https://www.theverge.com/2017/12/20/16800940/coinbase-bitcoin-cash-fork-insider-trading-probe

Volatility¿ Be ready, it's only starting today. Best is to not even tune in to the news, wait three years, cash in, and travel the world aboard a super yacht.

Screw the regulators, the corrupted financial institutions, the money dictators, the Gestapo, the FBI, the KGB, the CIA, the imposters, the scramblers, the hackers, the bubblegum spies, the internet losers and abusers, all the bad apples provoking and inflicting human suffering, the polluters from big conglomerate corporations, the oil capitalism, the gold diggers, the planet's rapists, the thiefs of Bahgdag, the ....

Bitcoin and all the rest of the expanding family with new babies born each day and tens of thousands of beating hearts joining the financial liberation, was a long long time coming dues.

Invest in securities, invest in the future, invest in today, invest in freedom, invest in our children, in our families, in ourselves. Don't be indifferent to all the abuses, don't remain neutral in face of corruption, live for what's right. Be active, climb mountains, plant forests, nurture gardens, give people love and affection. ...Play music, watch films, all type of films with an edge towards the expanding brain. Know the difference between right and wrong, act upon it by constructing peaceful solutions, communications, rewarding the builders, the ones using their arms, legs, bodies, sweat, be an active participant in the art of living in peace.

 

[RayDunzl]

An hour of Bitcoin tonight... Down to $12712, up to $15297

 

[RayDunzl]

Transaction Fees are in the news...

A chart:

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

See the right edge.

 

[watchnerd]

Transaction Fees are in the news...

A chart:

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

See the right edge.

it's bit less for some of the other crypto currs, but still high ($7 for some ETH trades in the $500 range), but as percentage it's horrible.

 

[Sal1950]

Like I said, just another version of the ole ponzi scheme.
Some will get burned BAD someday.

 

[RayDunzl]

Other crypto-stuff:

1,377 choices listed...

https://coinmarketcap.com/all/views/all/

 

[NorthSky]

In 2018, after all the banks and other major financial corporations join in there will be thousands more alternatives to play. Some payers will find the holy trinity, others their salvation. The world is changing, and with it we adapt. It's a roller coaster ride, has been since the beginning, will be to no end.

Good link Ray.

 

[dallasjustice]

 

[watchnerd]

"7/ Today I learned of a yoga teacher with her entire net worth in Bitcoin. She took out $15,000 in credit card debt to buy more (leverage!) ... Yes, that's where we are. Bitcoin mania"

https://twitter.com/msuster/status/941901699949641728

Full disclosure: I bought some Ethereum and Litecoin on 12/9 on a lark in amounts equivalent to what I might bet on a sporting event or feel comfortable losing in a night gambling. That went up about 70% by 12/21, which I then rebalanced into both Bitcoin Cash and USD. As of this moment (it's so volatile) I'm up 54% compared to 12/9. However, my luck doesn't mean I think buying crypto currencies or tokens is a good investment strategy, any more so than winning at slots would be.