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Crypto currency! What when why and how? Login/Join 
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Picture of boom stick
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OK you Crypt experts... What are your thoughts on the different crypto currencies and strategies? What do you have?
Any Doge-rs here?
Vanilla Bitcoin?
What trends and technologies are going to drive what currencies?


577 BME 3"500 KILL ALL 358 GREMLIN 404-375

*we band of 45-70ers* (Founder)
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Posts: 27028 | Location: Where tech companies are trying to control you and brainwash you. | Registered: 29 April 2005Reply With Quote
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I have an account to trade crypto but I have yet to buy any.

The Biden administration printing another 500,000,000,000 is what is making crypto so interesting.

There are hundreds of cryptos. Bitcoin is going up, but the cost of bitcoins is so high as to only be a sellers market unless you have a huge amount to invest in.
 
Posts: 7266 | Location: New Mexico | Registered: 10 October 2012Reply With Quote
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I think a lot of people want to get into crypto to hedge against inflation. Gold is good but Crypto has more upside it seems.


577 BME 3"500 KILL ALL 358 GREMLIN 404-375

*we band of 45-70ers* (Founder)
Single Shot Shooters Society S.S.S.S. (Founder)
 
Posts: 27028 | Location: Where tech companies are trying to control you and brainwash you. | Registered: 29 April 2005Reply With Quote
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BTC hit $61k earlier today. tu2

https://www.kitco.com/bitcoin-price-charts-usd/

Various blockchain technology and BTC miner stocks also performing well.
 
Posts: 897 | Registered: 03 May 2012Reply With Quote
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Attended a continuing legal education seminar on it. Seemed sketchy to me, but I'm old school. At a minimum, seemed really volatile to me.
 
Posts: 7940 | Location: Houston, Texas | Registered: 26 December 2005Reply With Quote
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Me too, I still take notes on a 'Big Chief' tablet.


Never mistake motion for action.
 
Posts: 14618 | Location: Austin, Texas | Registered: 11 March 2013Reply With Quote
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I hate to miss out on a good opportunity but something inside me hates digital currency. I wish I had more time and money to invest in this stuff. What are your thoughts on PI digital currency? You can mine it from your phone.


577 BME 3"500 KILL ALL 358 GREMLIN 404-375

*we band of 45-70ers* (Founder)
Single Shot Shooters Society S.S.S.S. (Founder)
 
Posts: 27028 | Location: Where tech companies are trying to control you and brainwash you. | Registered: 29 April 2005Reply With Quote
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quote:
Originally posted by lavaca:
Attended a continuing legal education seminar on it. Seemed sketchy to me, but I'm old school. At a minimum, seemed really volatile to me.


I idly wonder how this is going to turn out. It certainly sounds like it sells a lot of disk drives and watt-hours.


TomP

Our country, right or wrong. When right, to be kept right, when wrong to be put right.

Carl Schurz (1829 - 1906)
 
Posts: 12538 | Location: Moreno Valley CA USA | Registered: 20 November 2000Reply With Quote
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How it will turn out..

When it crashes, a few will be filthy rich, and most will loose everything they have!

https://www.consumer.ftc.gov/a...about-cryptocurrency

It's not backed, insured, or protected by anyone.

It's like going to Vegas stoned out of your mind and betting everything you have on a horse you've never seen.

Phil
 
Posts: 1371 | Location: Southern California | Registered: 04 February 2001Reply With Quote
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I would never invest in anything that exists only as 1’s and 0’s on a computers. YMMV.
 
Posts: 9488 | Location: Georgia | Registered: 28 October 2006Reply With Quote
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I'm too old to bet the farm.
 
Posts: 12053 | Location: Texas | Registered: 10 May 2002Reply With Quote
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I would not touch with a barge pole!


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Posts: 55921 | Location: Dubai, UAE | Registered: 08 January 1998Reply With Quote
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Here is an update of the plant building and now sold before it is completed for over $80 mil. I grew up in Rockdale, Tx. and Obama closed down the coal mininng so Alcoa had been operating for over 50 yrs. This plant will be the largest for crazy money mining in the world soon. Read more: The Rockdale Reporter paper , it is new in the latest paper April 15, 2021. The new company is called RIOT something. Alcoa still owns over 32,000 acres and this company is on long term leases. Pictures show the size of the plant and electric power lines. Around 1890 this coal was the largest cold mine in Texas to around 1920.
 
Posts: 924 | Location: Texas | Registered: 19 May 2004Reply With Quote
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Les, heres an interesting (to me) story. In 1982 I was working out of Georgetown but we had a job installing the ductwork + A.C. in the new Rockdale Library. Coming home we wentwest on 79 to Taylor. Dick Waters + I stopped for a can of beer in Thorndale before getting back on the road towards Taylor. We were travelling parallel to the train tracks that was hauling several boxcars full of coal. Right as we got into Taylor the road (79) goes under an overpass curce while the train travels above. at that moment Dick asked me what time it was to see if we got back to shop on time. We were under the overpass as the coal train was directly above us. I told Dick it was 4:30. That night he called me + told me to turn on the news on T.V. It seems that at 4:30 a coal train derailed on the overpass + dumped cars, coal,etc. on the highway below. We went under the bridge only seconds before that occurred. Timing is everything but I still find that experience very spooky!


Never mistake motion for action.
 
Posts: 14618 | Location: Austin, Texas | Registered: 11 March 2013Reply With Quote
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quote:
Originally posted by boom stick:
I hate to miss out on a good opportunity but something inside me hates digital currency. I wish I had more time and money to invest in this stuff. What are your thoughts on PI digital currency? You can mine it from your phone.


I dont really understand bitcoin or any other cryptocurrency but in 2009-10 when it launched it was around .10c per coin. someone posted it hit $61000 recently if a person had thrown $100.00 in when it launched and rode the waves DAMN what a return.
 
Posts: 432 | Registered: 12 November 2013Reply With Quote
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One cannot, CANNOT, increase the value of anything so much over night!

Something is wrong!


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Posts: 55921 | Location: Dubai, UAE | Registered: 08 January 1998Reply With Quote
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Shark Tank investor Kevin O'Leary now includes a small amount of his portfolio in crypto.

https://markets.businessinside...il-2021-5-1030392539


A young man my sons went to High School with, has made a killing with Bitcoin. I've looked into it a couple of times but have yet to pull the trigger.
 
Posts: 8010 | Registered: 09 January 2011Reply With Quote
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Let me know if you want to buy my old Monopoly Money. I have quite a bit of it.

I also have a copy machine and can sell you a lot of $100 dollar U. S. bills at a sizeable discount. (They all have the same serial number which make things a lot simpler.)

Also, have I mentioned that I'm a Nigerian prince with access to a shit-pot-full of money and would gladly share with you for a small fee, and your bank account information.
 
Posts: 12053 | Location: Texas | Registered: 10 May 2002Reply With Quote
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quote:
Originally posted by Kensco:
Let me know if you want to buy my old Monopoly Money. I have quite a bit of it.

I also have a copy machine and can sell you a lot of $100 dollar U. S. bills at a sizeable discount. (They all have the same serial number which make things a lot simpler.)

Also, have I mentioned that I'm a Nigerian prince with access to a shit-pot-full of money and would gladly share with you for a small fee, and your bank account information.


I was of the same opinion as well. I think the opinion is based on being unfamiliar ... at least in my case. I say that because we are seeing more and more "legitimate" businesses accepting Bitcoin as a method of payment, such as Home Depot, ATT, Starbucks, certain items on Amazon, and some car dealerships.

I haven't invested in it because I still don't understand it. At some point, I plan to do a deep dive into the subject and determine for myself if it's worth a closer look.
 
Posts: 8010 | Registered: 09 January 2011Reply With Quote
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Anything that goes up in value by 18,000% per year is NOT right!


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Posts: 55921 | Location: Dubai, UAE | Registered: 08 January 1998Reply With Quote
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Remember 1929 + keep your property taxes paid! I knew an older gent many years ago who kept his land during the depression + told me that there were weeks when the wife + kids didn't eat but I always kept enough back to pay my land taxes. Now, Jay Wolfe is long gone + all his property is at the intersection of HWY 29 + I 35; there are shopping centers on it + development going great guns for his decentents. + believe me, they are raking in a pile! I wonder if they even know or care about the struggles that he went through to keep it.


Never mistake motion for action.
 
Posts: 14618 | Location: Austin, Texas | Registered: 11 March 2013Reply With Quote
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Soros called this sort of thing "reflexivity", also known as herd mentality.
I expect that somewhere in the world there are derivatives based on this...

Meanwhile, I will keep buying yard-sale tools.
The simpler ones will continue to be worth what they are worth...


TomP

Our country, right or wrong. When right, to be kept right, when wrong to be put right.

Carl Schurz (1829 - 1906)
 
Posts: 12538 | Location: Moreno Valley CA USA | Registered: 20 November 2000Reply With Quote
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quote:
Originally posted by jdollar:
I would never invest in anything that exists only as 1’s and 0’s on a computers. YMMV.


X2,

Grizz


When the horse has been eliminated, human life may be extended an average of five or more years.
James R. Doolitle

I think they've been misunderstood. Timothy Tredwell
 
Posts: 753 | Location: Central Alberta, Canada | Registered: 20 July 2019Reply With Quote
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See how much was l0st now??


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Posts: 55921 | Location: Dubai, UAE | Registered: 08 January 1998Reply With Quote
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No real country - US Britain Japan Germany India - really wants crypto.

Russia As a country is a fraud and a criminal enterprise.

China may want other countries to have crypto and control its mining. For It’s own citizens it wants control over what crypto they can own.

If governments don’t want a competitor to their domain - they will eventually destroy crypto via regulation, taxation or sabotage.

I will stick with Buffett that this stuff is rat poison squared. I just won’t short it.

Mike


Every man has a right to his opinion, but no man has a right to be wrong in his facts.

Bernard Baruch
 
Posts: 11859 | Location: Cocoa Beach, Florida | Registered: 22 July 2010Reply With Quote
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Bloomberg has a story that 775,000 margin crypto accounts with $8.5 bil in capital ( A little over 10k per account average) were margin liquidated in the sell off.

There is tremendous leverage in crypto.

It is held globally and outside of traditional financial intermediation - banks, brokerage accounts, prime brokerage, intra banks markets ect

It is the wild Wild West of finance.

Mike


Every man has a right to his opinion, but no man has a right to be wrong in his facts.

Bernard Baruch
 
Posts: 11859 | Location: Cocoa Beach, Florida | Registered: 22 July 2010Reply With Quote
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Picture of jdollar
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1’s and 0’s. Prime example of the bigger fool theory. Buy something with no intrinsic value and sell it later at a profit to a bigger fool.....Works great as long as there is a bigger fool than you.
 
Posts: 9488 | Location: Georgia | Registered: 28 October 2006Reply With Quote
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quote:
Originally posted by jdollar:
1’s and 0’s. Prime example of the bigger fool theory. Buy something with no intrinsic value and sell it later at a profit to a bigger fool.....Works great as long as there is a bigger fool than you.


You are forgetting how many stupid idiots in this world are.

Make something out of nothing.

I actually had the pleasure of meeting an Irishman who wanted to set up a business here in Dubai.

He had a check in his name for $96,000,000, drawn on a Bank in Vanuatu!

I made a note of it, and asked my bank to find out about it.

He did have an account at that bank, with less than $300 in it! clap


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Posts: 55921 | Location: Dubai, UAE | Registered: 08 January 1998Reply With Quote
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If government wanted total control over its citizens and it seems that many of them do, a cashless monetary system would go a long way towards achieving that goal.

What would be the easiest way to get society to accept such a monetary system, by force or by promising untold riches? Promise them riches and they will flock to it as fast as they can. Force it on them and you will have serious resistance.

Maybe I'm paranoid but this is how I view crypto-currency.


BIG GUNS, FAST CARS AND SLOW WOMEN!
 
Posts: 552 | Location: Utah | Registered: 30 January 2013Reply With Quote
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quote:
Originally posted by deadibob:
If government wanted total control over its citizens and it seems that many of them do, a cashless monetary system would go a long way towards achieving that goal.

What would be the easiest way to get society to accept such a monetary system, by force or by promising untold riches? Promise them riches and they will flock to it as fast as they can. Force it on them and you will have serious resistance.

Maybe I'm paranoid but this is how I view crypto-currency.


Decades ago, Isaac Asimov proposed banning cash as a way to impede crime. The point, of course, is to ban secrecy...


TomP

Our country, right or wrong. When right, to be kept right, when wrong to be put right.

Carl Schurz (1829 - 1906)
 
Posts: 12538 | Location: Moreno Valley CA USA | Registered: 20 November 2000Reply With Quote
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