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Thread: General cryptocurrency discussion

  1. #21
    Noble Asshole Horatio's Avatar
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    Quote Originally Posted by Starjots View Post
    I've missed out becoming a Bitcoin millionaire.
    You might get another chance. Cryptocurrencies are on a downward swing atm and they're probably going to dip further after today and the 18th.

  2. #22
    Member Micawber's Avatar
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    I have got a teaspoon give or take of pity for those who neglected to jot down their bitcoin passwords.

  3. #23
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    The problem with cryptocurrencies is that the powers that be WANT money to go cashless

    Once money is all digital they can then monitor EVERY single transanction and also they can do bail-ins at anytime (unlike a bail out a bail-in is when the bank simply takes a 'haircut' percentage of the money you hold in your bank account which they can do because when you put money into a bank you become an 'unsecured creditor')

    So once money is digital the government knows everything that is going on and can also decide who can access their money at any given time and also they can reach into your account at anytime and seize funds

    Moves are on to decentralise the internet to try to remove the ability of governments to do this but if you have physical cash you can purchase anonymously and you can keep your money out of banks so it has major advances when we talk about individual freedom from external control

  4. #24
    Pull the strings! Architect's Avatar
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    Blockchains are the only interesting thing here, everything else is pure fiat.

  5. #25
    Senior Member Senseye's Avatar
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    Does anybody actually know someone who has paid cash for a bitcoin? Not mined it or painted a fence or sold a bag of weed for one?

    I've never heard any stories of anybody in anyone's monkeysphere doing so. I know the market for physical goods for bitcoin is still pretty limited, so people must be converting them (or trying) to cash somewhere. Maybe some buying by speculators I guess. Seems dangerous - pay cash for bitcoin, hope to sell said bitcoin for more cash later to someone who also hopes to sell it for more later. You're pretty screwed if the market goes down.

  6. #26
    Noble Asshole Horatio's Avatar
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    Quote Originally Posted by Senseye View Post
    Does anybody actually know someone who has paid cash for a bitcoin? Not mined it or painted a fence or sold a bag of weed for one?

    I've never heard any stories of anybody in anyone's monkeysphere doing so. I know the market for physical goods for bitcoin is still pretty limited, so people must be converting them (or trying) to cash somewhere. Maybe some buying by speculators I guess. Seems dangerous - pay cash for bitcoin, hope to sell said bitcoin for more cash later to someone who also hopes to sell it for more later. You're pretty screwed if the market goes down.
    I have. I also paid cash for Litecoin.

    Which I sold yesterday at $160 because it seemed to be approaching parabolic growth and that, as everyone knows, never ends well. Now it's at $240... beginning to wonder how long this will still go well, or whether a crash is imminent. It caught up tremendously with Bitcoin in the past couple of days. Whoever traded their Bitcoins for Litecoins last Thursday could have made a fortune...

  7. #27
    凸(ಠ_ರೃ )凸 stuck's Avatar
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    Quote Originally Posted by Senseye View Post
    Does anybody actually know someone who has paid cash for a bitcoin? Not mined it or painted a fence or sold a bag of weed for one?
    Yeah I know a person who bought a few grand's worth at 10k, not sure if he's actually in an exchange yet. I have another friend who's trying to pull the trigger on ripple and IOTA right now too.

    I may get in after a sizable correction. Still have some research to do.

  8. #28
    Global Moderator Polemarch's Avatar
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    Things I did in the last week or so:

    1. Opened a Coinbase account
    2. Bought some LTC at $229
    3. Bought some ETH
    4. Sold out of some LTC at $305
    5. Bought some BTC, XRP, and NEO today
    We didn't land on Plymouth Rock. Plymouth Rock landed on us.

  9. #29
    Meae Musae Servus Hephaestus's Avatar
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    I am baffled at the seemlingly endless ways people come up with to gamble on nothing.
    For some, "how", not "why", is the fundamental unit of measure for curiosity. This divergence is neither parallel, nor straight. Where one might have a "why?-5" problem, it might only be a "how?-2" question. But then, there are also many things where the "why?" is immediately obvious but the "how?" is best measured in centuries of perpetual wonder. Both approaches have their drawbacks.

    If one is superior, the other is unaware of it.

    --Meditations on Uncertainty Vol ξ(x)

  10. #30
    凸(ಠ_ರೃ )凸 stuck's Avatar
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    Quote Originally Posted by Polemarch View Post
    2. Bought some LTC at $229
    Quote Originally Posted by Polemarch View Post
    4. Sold out of some LTC at $305
    congrats on the discipline with that one

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