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so.cal.fan
05-21-2017, 01:01 PM
BitCoin Ė Criminals Ė Authorities | Armstrong Economics
https://www.armstrongeconomics.com/international-news/rule-of-law/bitcoin-criminals-authorities/

n.c
05-21-2017, 08:12 PM
2000

sec rejected Winklevoss brothers(original facebook guys) bitcoin etf

AltonKelsey
05-22-2017, 02:26 AM
If people want to pay $500 for a beanie baby or 5 million for a stamp, or 100 million for a painting, you can't stop them.

AltonKelsey
05-24-2017, 10:30 PM
I'm waiting till it hits 3000 before I buy my first 100 lot. Want to make sure its not just a manipulation.

PICSIX
05-25-2017, 06:58 AM
I'm waiting till it hits 3000 before I buy my first 100 lot. Want to make sure its not just a manipulation.
Buy high, sell higher:lol::lol:

AltonKelsey
06-05-2017, 10:59 PM
I'm waiting till it hits 3000 before I buy my first 100 lot. Want to make sure its not just a manipulation.

soon

ReplayRandall
06-05-2017, 11:15 PM
soon

Soon.....the fraud that Bitcoin IS, with no transparency whatsoever, will finally be exposed for the world to see, and a major GOVERNMENT operated cyber-currency will take it's place. It's not a matter of "if" this happens, it's a matter of "when".....Everybody's got to be shilling something to make a buck, a certain new stock or option to play, flipping real estate or cyber-scams like these....It just never stops.

AltonKelsey
06-06-2017, 06:06 PM
You're preaching to the choir.

I thought it was a scam at $100.

But at some point , you have to respect that the market doesn't care what you think .

That's how you stay solvent. http://industrialrecyclingsolutions.com/wp-content/uploads/used-solvent-removal.jpg

lamboguy
06-06-2017, 11:08 PM
Soon.....the fraud that Bitcoin IS, with no transparency whatsoever, will finally be exposed for the world to see, and a major GOVERNMENT operated cyber-currency will take it's place. It's not a matter of "if" this happens, it's a matter of "when".....Everybody's got to be shilling something to make a buck, a certain new stock or option to play, flipping real estate or cyber-scams like these....It just never stops.it is taking me a long time to comprehend bitcoin. but the basis of what it is all about is to protect the holders of it from governments all over. governments throughout the world confiscate their citizens money, either by inflation or taxes. for example in our country we now have a 2% inflation rate which excludes food and energy. i can tell you that both food and energy have gone up over 20% year to year. when you add up all the taxes we pay its way over 50% of what we earn. they take our tax money and redistribute it to others that the government favors.

strange as it seems, money has chased bitcoin and not precious metals. in the past 2 years gold has only gone from $1050 per ounce to $1250 the ounce. i suspect that will eventually change though because precious metals have a 5000 year history of protecting the holders against governments and outside forces.

bigsonny
06-07-2017, 09:08 AM
http://www.bibliotecapleyades.net/sociopolitica/sociopol_globalbanking277.htm

AltonKelsey
06-07-2017, 02:43 PM
What food is up 20%?

Are you just making up numbers?

https://tradingeconomics.com/united-states/food-inflation

reckless
06-07-2017, 05:41 PM
What food is up 20%?

Are you just making up numbers?

https://tradingeconomics.com/united-states/food-inflation

There's a convenience store in my neck of the woods, Alton, called WAWA.

I would often buy a hot dog there for 99 cents.... until last Saturday when they 'jacked' the price up to $1.19. True. :lol::lol:

_______
06-07-2017, 07:15 PM
it is taking me a long time to comprehend bitcoin. but the basis of what it is all about is to protect the holders of it from governments all over. governments throughout the world confiscate their citizens money, either by inflation or taxes. for example in our country we now have a 2% inflation rate which excludes food and energy. i can tell you that both food and energy have gone up over 20% year to year. when you add up all the taxes we pay its way over 50% of what we earn. they take our tax money and redistribute it to others that the government favors.

strange as it seems, money has chased bitcoin and not precious metals. in the past 2 years gold has only gone from $1050 per ounce to $1250 the ounce. i suspect that will eventually change though because precious metals have a 5000 year history of protecting the holders against governments and outside forces.

WTI closed at 50.36 on 7/7/2016. Here's a price history for reference:


https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RWTC&f=D

I'll give you the benefit of not forseeing today's 5% drop but if energy prices were up 20% that would put WTI north of $60 instead of south of $46.

And I know I'll never shake anyone off their love of gold which is something deep and emotional and, like any other love affair, immune to rational analysis.

But since 1900, gold has deeply underperformed the total return of both stocks and bonds. It's held it's own against cash. Gold has returned an annualized 1% vs. 0.9% for just sticking your savings in a money market account.

lamboguy
06-07-2017, 07:43 PM
WTI closed at 50.36 on 7/7/2016. Here's a price history for reference:


https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RWTC&f=D

I'll give you the benefit of not forseeing today's 5% drop but if energy prices were up 20% that would put WTI north of $60 instead of south of $46.

And I know I'll never shake anyone off their love of gold which is something deep and emotional and, like any other love affair, immune to rational analysis.

But since 1900, gold has deeply underperformed the total return of both stocks and bonds. It's held it's own against cash. Gold has returned an annualized 1% vs. 0.9% for just sticking your savings in a money market account.unfortunately you just made the case for gold now. everything reverts back to the means.

you understand living locks, gold is a living lock to be $2000 per ounce by this time next year and my guess is it will be a lot higher. again, that is a living lock.

_______
06-07-2017, 08:53 PM
unfortunately you just made the case for gold now. everything reverts back to the means.

you understand living locks, gold is a living lock to be $2000 per ounce by this time next year and my guess is it will be a lot higher. again, that is a living lock.

Reverting to what mean? I just quoted gold's performance over the last 117 years.

You're looking for a pivot from that?

And a living lock from a guy who thinks energy prices are up more than 20% in the last year. You understand my skepticism, right?

AltonKelsey
06-07-2017, 10:55 PM
If food prices went up 20% in a year across the board, half the population would starve, and 25% would lose 15 lbs or more in short order.

Speaking of prices, I just saw a guy buy 4 packs of cigs at probably $15 each .

Just peeled off the cash . This at Rite Aid.

lamboguy
06-07-2017, 11:22 PM
Reverting to what mean? I just quoted gold's performance over the last 117 years.

You're looking for a pivot from that?

And a living lock from a guy who thinks energy prices are up more than 20% in the last year. You understand my skepticism, right?

actually not at all. if memory serves me correctly the price of oil per barrel was just under $25 about 19 months ago, it is now around $50. the price of 6by6 tomato's are twice as much today than they were a year ago. canned goods are all up a minimum of 20%.

now as far as your skepticism goes, i called Donald Trump the next president about a year ago right on this board. i also called Trump close in Massachusetts even though he got blown out here, i suspect there was a lot of chicanery going on in the count of the votes there. now to go one step further i called the New England Patriots a living lock as well for the superbowl. not to sure how they won the game but they did get the W.

so as you can see i don't take my living locks very lightly. from where i am sitting i don't think you have any business not paying attention to my statements and its time you get your head in line with what i am preaching.

of course you can choose not to pay attention. just for my other doubter here, the penny stock that i gave out right on this board is still in a very big profit range from where i initially posted it. this one even i admit is quite unusual because stocks of this nature generally fall under the category of pump and dump, and this one isn't.

_______
06-08-2017, 12:17 AM
actually not at all. if memory serves me correctly the price of oil per barrel was just under $25 about 19 months ago, it is now around $50. the price of 6by6 tomato's are twice as much today than they were a year ago. canned goods are all up a minimum of 20%.

now as far as your skepticism goes, i called Donald Trump the next president about a year ago right on this board. i also called Trump close in Massachusetts even though he got blown out here, i suspect there was a lot of chicanery going on in the count of the votes there. now to go one step further i called the New England Patriots a living lock as well for the superbowl. not to sure how they won the game but they did get the W.

so as you can see i don't take my living locks very lightly. from where i am sitting i don't think you have any business not paying attention to my statements and its time you get your head in line with what i am preaching.

of course you can choose not to pay attention. just for my other doubter here, the penny stock that i gave out right on this board is still in a very big profit range from where i initially posted it. this one even i admit is quite unusual because stocks of this nature generally fall under the category of pump and dump, and this one isn't.

Food inflation is less than overall inflation over the past year. I'd post a link, but I'm pretty sure you don't care since you can post drivel like "canned goods are all up a minimum of 20%" without blinking an eye.

And if we are expanding the time frame for energy from a year, why stop at 19 months? Less than 36 months ago, WTI was well over $100/barrel. Funny how time frames matter. You said one year. I responded to your obviously erroneous statement.

Maybe you're just better at seeing the future than remembering the past.

reckless
06-08-2017, 07:56 AM
If food prices went up 20% in a year across the board, half the population would starve, and 25% would lose 15 lbs or more in short order.

Speaking of prices, I just saw a guy buy 4 packs of cigs at probably $15 each .

Just peeled off the cash . This at Rite Aid.

I know Alton. I was just trying to get a small laugh out of people.

But seriously, most especially in the consumer food industry who impose relatively larger price hikes for their products than the generally acknowledged sticker price, so to speak.

Once upon a time, there used to be true pound can of coffee, 16 oz. Over the years that 'pound' can of coffee became 12 oz., then 11.5 oz., and the other day I saw one with 10.5 oz. in there. Scandal alert!

Hershey Chocolate have had numerous re-jiggering in the manufacturing size of their famous candy bar. One year the 'bar' was so thin that it seemed no bigger than a sheet of loose leaf paper.

And on the retail side, the game played is even worse by basically 'forcing' people to buy 3 cans of corn at $3 total, but priced at $1.15 each if the consumer buys just one or two and not the required three.

I know it's no big deal in the wash but these things are done deliberately to extract more money --even if it's just pennies-- out of the hands of the consumer. It does make for fun talk and little else, I understand.

lamboguy
06-08-2017, 08:24 AM
Food inflation is less than overall inflation over the past year. I'd post a link, but I'm pretty sure you don't care since you can post drivel like "canned goods are all up a minimum of 20%" without blinking an eye.

And if we are expanding the time frame for energy from a year, why stop at 19 months? Less than 36 months ago, WTI was well over $100/barrel. Funny how time frames matter. You said one year. I responded to your obviously erroneous statement.

Maybe you're just better at seeing the future than remembering the past.no offense but you are just listening to media and looking at fake numbers.

what you really need is for me to do a webinar that will teach people how to make better choices. everything around you is all very misleading and you need to learn how to separate real from fake.

Dahoss9698
06-08-2017, 10:34 AM
no offense but you are just listening to media and looking at fake numbers.

what you really need is for me to do a webinar that will teach people how to make better choices. everything around you is all very misleading and you need to learn how to separate real from fake.
With all due respect Lambo you have a very long and rich history of just totally making up numbers here.

But I'd pay to see a webinar of you "teaching" people.

AltonKelsey
06-08-2017, 01:36 PM
reckless (http://www.paceadvantage.com/forum/member.php?u=417), you didn't even mention the scandal of cereal box shrinkage.

Not sure if the media has covered it but its years in the making , someone has to have done piece on it.

AltonKelsey
06-08-2017, 02:22 PM
By the way , the greatest stock in the world SFOR , having a bad day with heavy selling. Moved up last few on no news. Today -20%

lamboguy
06-08-2017, 02:32 PM
By the way , the greatest stock in the world SFOR , having a bad day with heavy selling. Moved up last few on no news. Today -20%i have been looking for a stock or an equity or for that matter a horse that you have posted on this board that actually made money for anyone, am i missing something? or do you just wait to knock someone or something here to look smart?

_______
06-08-2017, 03:15 PM
i have been looking for a stock or an equity or for that matter a horse that you have posted on this board that actually made money for anyone, am i missing something? or do you just wait to knock someone or something here to look smart?

Trust me.

No one knocks you here to look smart anymore than we step over a low laying obstacle to look athletic.

Some of us just still live in a world where facts aren't malleable.

reckless
06-08-2017, 03:51 PM
reckless (http://www.paceadvantage.com/forum/member.php?u=417), you didn't even mention the scandal of cereal box shrinkage.

Not sure if the media has covered it but its years in the making , someone has to have done piece on it.

I no longer eat cereal -- I stopped after I read in an alt-investing newsletter that there's more fiber in the cereal box than in the cereal itself! :lol::lol:

No wonder they keep shrinking the box, alton. Thanks for the heads-up.

lamboguy
06-14-2017, 07:38 AM
http://www.naturalnews.com/2017-06-13-bitcoin-wallet-coinbase-now-seizing-accounts-of-americans-total-ripoff-accounts-vanish.html

BaffertsWig
11-20-2017, 10:33 AM
I'm waiting till it hits 3000 before I buy my first 100 lot. Want to make sure its not just a manipulation.


Did you ever buy? Over 8100 now. I bought and sold in the 4k range, got out due to concerns over China exiting the market, got back in at 6k a week or so ago. 10k easy peasy by EOY.

AltonKelsey
11-20-2017, 12:41 PM
Sadly, my distaste for the whole enterprise has prevented me from benefiting from the scam.

" Never let logic get in the way of a good trade. "

highnote
11-20-2017, 10:54 PM
I was interested the decentralized exchange called LoopRing from the list below. I did an internet search of it on Bing. LoopRing is also a product used treat erectile dysfunction. Hey NSA -- add that to my profile. :pound:
----------------------------

This list of 100 digital currencies with four words describing each one might give you reason to believe BitCoin is overpriced:

https://techcrunch.com/2017/11/19/100-cryptocurrencies-described-in-4-words-or-less/

Name | Sym. | Description
----------------|-------|------------------------------------------
Bitcoin | BTC | Digital gold
Ethereum | ETH | Programmable contracts and money
Bitcoin Cash | BCH | Bitcoin clone
Ripple | XRP | Enterprise payment settlement network
Litecoin | LTC | Faster Bitcoin
Dash | DASH | Privacy-focused Bitcoin clone
NEO | NEO | Chinese-market Ethereum
NEM | XEM | Batteries-included digital assets
Monero | XMR | Private digital cash
Ethereum Classic| ETC | Ethereum clone
IOTA | MIOTA | Internet-of-things payments
Qtum | QTUM | Ethereum contracts on Bitcoin
OmiseGO | OMG | Banking, remittance, and exchange
Zcash | ZEC | Private digital cash
BitConnect | BCC | Madoff-like investment fund
Lisk | LSK | Decentralized applications in JavaScript
Cardano | ADA | Layered currency and contracts
Tether | USDT | Price = 1 USD
Stellar Lumens | XLM | Digital IOUs
EOS | EOS | Decentralized applications on WebAssembly
Hshare | HSR | Blockchain switchboard
Waves | WAVES | Decentralized exchange and crowdfunding
Stratis | STRAT | Decentralized applications in C#
Komodo | KMD | Decentralized ICOs
Ark | ARK | Blockchain switchboard
Electroneum | ETN | Monero clone
Bytecoin | BCN | Privacy-focused cryptocurrency
Steem | STEEM | Reddit with money voting
Ardor | ARDR | Blockchain for spawning blockchains
Binance Coin | BNB | Pay Binance exchange fees
Augur | REP | Decentralized prediction market
Populous | PPT | Invoice trading futures
Decred | DCR | Bitcoin with alternative governance
TenX | PAY | Cryptocurrency credit card
MaidSafeCoin | MAID | Rent disk space
BitcoinDark | BTCD | Zcoin close
BitShares | BTS | Decentralized exchange
Golem | GNT | Rent other people's computers
PIVX | PIVX | Inflationary Dash clone
Gas | GAS | Pay fees on Neo
TRON | TRX | In-app-purchases
Vertcoin | VTC | Bitcoin clone
MonaCoin | MONA | Japanese Dogecoin
Factom | FCT | Decentralized record keeping
Basic Attention | BAT | Decentralized ad network
SALT | SALT | Cryptocurrency-backed loans
Kyber Network | KNC | Decentralized exchange
Dogecoin | DOGE | Serious meme bitcoin clone
DigixDAO | DGD | Organisation manages tokenized gold
Veritaseum | VERI | Vaporware
Walton | WTC | IoT Blockchain
SingularDTV | SNGLS | Decentralized Netflix
Bytom | BTM | Physical assets as tokens
Byteball Bytes | GBYTE | Decentralized database and currency
GameCredits | GAME | Video game currency
Metaverse ETP | ETP | Chinese Ethereum plus identity
GXShares | GXS | Decentralized Chinese Equifax
Syscoin | SYS | Decentralized marketplace
Siacoin | SC | Rent disk space
Status | SNT | Decentralized application browser
0x | ZRX | Decentralized exchange
Verge | XVG | Privacy Dogecoin
Lykke | LKK | Digital asset exchange
Civic | CVC | Identity and Authentication App
Blocknet | BLOCK | Decentralized exchange
Metal | MTL | Payments with rewards program
Iconomi | ICN | Digital asset investment funds
Aeternity | AE | Decentralized apps (prototype)
DigiByte | DGB | Faster Bitcoin
Bancor | BNT | Token Index Funds
Ripio Credit | RCN | Co-signed Cryptocurrency Loans
ATMChain | ATM | Advertising network
Gnosis | GNO | Decentralized prediction market
VeChain | VEN | Supply chain item IDs
Pura | PURA | Cryptocurrency
Particl | PART | Privacy marketplace and chat
KuCoin Shares | KCS | Profit-sharing exchange fees
Bitquence | BQX | Mint for cryptocurrency investments
FunFair | FUN | Decentralized casino
ChainLink | LINK | External data for contracts
Power Ledger | POWR | Airbnb for electricity
Nxt | NXT | Cryptocurrency and marketplace
Monaco | MCO | Cryptocurrency credit card
Cryptonex | CNX | Zerocoin clone
MCAP | MCAP | Mining investment fund
Storj | STORJ | Rent disk space
ZenCash | ZEN | Privacy-focused Bitcoin clone
Nexus | NXS | Bitcoin clone
Neblio | NEBL | Decentralized application platform
Zeusshield | ZSC | Decentralized insurance
Streamr DATAcoin| DATA | Real-time data marketplace
ZCoin | XZC | Private digital cash
NAV Coin | NAV | Bitcoin with private transactions
AdEx | ADX | Advertising exchange
Open Trading | OTN | Decentralized exchange
SmartCash | SMART | Zcoin clone with rewards
Bitdeal | BDL | Bitcoin clone
Loopring | LRC | Decentralized exchange
Edgeless | EDG | Decentralized casino
FairCoin | FAIR | Bitcoin that rewards savers

AltonKelsey
11-20-2017, 11:19 PM
If this is not a form of madness, then it's doing a fantastic job of impersonation.

highnote
11-20-2017, 11:26 PM
If this is not a form of madness, then it's doing a fantastic job of impersonation.

Maybe it will be like the early days of the internet where companies could get away with a business plan that simply said "sell dog food online"?

Perhaps there will be a shakeout and the top companies will emerge -- the next set of googles, amazons, and facebooks?

Which are the top ones? Maybe look at who Sequoia and other top VCs are backing and then jump on board?

Until BitCoin becomes a product that we can't live without I won't invest in it. Although, I can live without google, amazon, and facebook. So maybe that's not the best approach. Maybe a better approach is to find the next bitcoin or blockchain company that will have a billion users?

AltonKelsey
11-21-2017, 10:14 AM
Looks like SFOR was the wrong stock after all.


It was VPLM for patent trollers

PS All the calls for a crash seem to have been premature. Why am I not shocked?

_______
11-21-2017, 12:06 PM
The problem with Bitcoin is that it trades without any apparent fundamentals. I canít figure out what drives itís price in either direction. Maybe some of the recent run up is fear over the possibility of China restricting access and the Chinese reacting by getting money out while they still can. But that is just a WAG.

I donít know how you determine that something is mis-priced and potentially investable without any idea how to value it.

Right now, I canít argue with someone who thinks itís going to $25,000. But I also canít argue with someone who thinks itís going to zero.

Parkview_Pirate
11-21-2017, 12:51 PM
I heard this morning on ThinkorSwim's feed that in the last year over 100 hedge funds have been started up that concentrate on cryptocurrencies.

Wow. We really do live in the Matrix.

Personally, I think part of Bitcoins price action has to do with so many other things being in a bubble, like equities and bonds. Where else do you store your excess dough? It's got a unique combination of technology, mystery and the glow of "the next big thing", and therefore is not to be missed. Until it turns into a tulip bulb.

AltonKelsey
11-21-2017, 02:45 PM
"It's got a unique combination of technology"

The word unique is misplaced.

They have no patent on the tech.

That's why there a hundreds of other coins that use the same idea and many probably do it better.

There's no explanation other than a conspiracy to manipulate the price. Unless you want to use insanity as the reason.

I've given up calling a top in the thing for the last 6,000 dollars.

highnote
11-21-2017, 04:55 PM
I've given up calling a top in the thing for the last 6,000 dollars.

Three "experts" recently predicted that in the next year it will be in a range of $10,000 to $18,000. One of the experts was Jason Calacanis. I don't remember the names of the other two. They appeared on a panel together at a recent conference.

Calanacis is pretty in tune with technology -- he was the number two or three investor in UBER. I think he was the one who said $10,000.

He also is critical of it because it is not a technology that we can't live without. It is not a "must have" technology.

That could change, but so far, I have no reason to use it. The current payment systems that are in place work well now.

Parkview_Pirate
11-21-2017, 06:49 PM
"It's got a unique combination of technology"

The word unique is misplaced.

They have no patent on the tech.

That's why there a hundreds of other coins that use the same idea and many probably do it better.

There's no explanation other than a conspiracy to manipulate the price. Unless you want to use insanity as the reason.

I've given up calling a top in the thing for the last 6,000 dollars.

The unique part is the combination. There's enough mystery to the technology, that only 3 in 100 understand it. The "gotta have it" runs strong with this one, as pointed out by underline (_________), there is no tangible asset associated with bitcoin - ergo, no fundamentals to estimate worth. At least Charles Ponzi had his stamps, and the Florida swampland sellers had, well, land/swamp.

Bitcoin was one of the first, and is certainly the most hyped/PR'ed/advertised of the cryptos - but the competition from the others, for whatever reason, is minimal for now. That is hard to explain outside of a conspiracy/racket.

As soon as bitcoin cuts into .gov affairs and their turf in any meaningful way, I'd expect a rider on some bill that chops the conversion mechanisms off at the knees, and makes it relatively worthless to any law-abiding citizen. Sort of like the rider on the ports bill that cut off funding bank transfers to offshore gambling accounts via Neteller.

highnote
11-21-2017, 07:37 PM
1 bitcoin = 6 ounces gold

I prefer gold

Tape Reader
11-21-2017, 07:58 PM
That could change, but so far, I have no reason to use it. The current payment systems that are in place work well now.

Today received an email from a client in Panama. Bank refused to wire small amount to me. Client wants to know if I accept Bitcoin.

I have no idea how Bitcoin works but I better learn!

highnote
11-21-2017, 08:55 PM
Today received an email from a client in Panama. Bank refused to wire small amount to me. Client wants to know if I accept Bitcoin.

I have no idea how Bitcoin works but I better learn!

Yes. And then you need to figure out how to convert it to U.S. dollars.

I believe you can somehow store it on a thumb drive so that it can't be stolen -- unless your thumb drive is stolen. But even then you could password protect your thumb drive. You'd probably want a backup of that kept in a safe place.

DeltaLover
11-21-2017, 09:22 PM
I believe you can somehow store it on a thumb drive so that it can't be stolen -- unless your thumb drive is stolen. But even then you could password protect your thumb drive. You'd probably want a backup of that kept in a safe place.

https://www.coindesk.com/information/how-to-store-your-bitcoins/

AltonKelsey
11-21-2017, 11:38 PM
Today received an email from a client in Panama. Bank refused to wire small amount to me. Client wants to know if I accept Bitcoin.

I have no idea how Bitcoin works but I better learn!

We've been transacting between countries for 2000 years, all of a sudden we need crypto to get cash out of Panama?

Amazing we've lasted this long without it , might have starved to death .

Parkview_Pirate
11-24-2017, 10:43 AM
Early in this thread RR warned about .gov and bitcoin, and the more I think about it, he's right. In spite of Highnote's post listing all the "private" digital currencies out there, the fact is blockchain technology provides a much more detailed trail than wire transfers or cash.

And speaking of cash, bitcoin figures to be a major undermining factor in the war on cash. If .gov is simply allowing the private sector to market digital currencies to shake out all the bugs, will it really be that big of surprise when a mandatory government (i.e., IMF) crypto-currency becomes the world standard? Then the banksters will have complete control over your assets, including the ability to easily implement the ever desperate measure of negative interest rates.

Bitcoin may not be a chip in the forehead, but it could be part of the same package.

Dave Schwartz
11-24-2017, 11:11 AM
It is all well and good that the currency is supposed to be fraud proof, but my experience in the world is that there is always a way.

Although I will participate in the cryptocurrency frenzy, I think the one big issue is that since there is no regulation, if someone does figure out a way to scam the system, then there is nobody to prosecute.

AltonKelsey
11-24-2017, 10:58 PM
It is all well and good that the currency is supposed to be fraud proof, but my experience in the world is that there is always a way.

Although I will participate in the cryptocurrency frenzy, I think the one big issue is that since there is no regulation, if someone does figure out a way to scam the system, then there is nobody to prosecute.

I'd think plain old vanilla criminal code would work very nicely in the case of theft.

Parkview_Pirate
11-25-2017, 11:03 AM
It is all well and good that the currency is supposed to be fraud proof, but my experience in the world is that there is always a way.

Although I will participate in the cryptocurrency frenzy, I think the one big issue is that since there is no regulation, if someone does figure out a way to scam the system, then there is nobody to prosecute.

It's supposed to be secure, and was touted as being outside .GOV tracking - neither is probably true.

As for "no regulation" concerns, that can be said for the financial industry as a whole, IMHO. Very few people fitted for orange jumpsuits coming out of the debacle of 2007/2008.

Here's another blurb of electricity usage for the cryptos. While I think the extrapolations of growth are suspect (since there's theoretical limits to the number of each brand of coin), the underlying issue is the same - it's not a very green technology.

https://powercompare.co.uk/bitcoin/

According to Digiconomistís Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoinís current estimated annual electricity consumption stands at 29.05TWh.

Thatís the equivalent of 0.13% of total global electricity consumption. While that may not sound like a lot, it means Bitcoin mining is now using more electricity than 159 individual countries (as you can see from the map above). More than Ireland or Nigeria.

If Bitcoin miners were a country theyíd rank 61st in the world in terms of electricity consumption.

I would not be surprised to see .GOV use this data to justify nationalizing the cryptos, freezing mining operations, and mandating the use of their controlled current coin levels for their own uses.

Dave Schwartz
11-25-2017, 01:12 PM
I'd think plain old vanilla criminal code would work very nicely in the case of theft.

But who does the arresting and how do they enforce?

BaffertsWig
11-26-2017, 12:27 PM
Did you ever buy? Over 8100 now. I bought and sold in the 4k range, got out due to concerns over China exiting the market, got back in at 6k a week or so ago. 10k easy peasy by EOY.


9200 this morning. :headbanger:

AltonKelsey
11-26-2017, 09:33 PM
But who does the arresting and how do they enforce?

Is this a mystery? If you hack a server in the USA the FBI gets you.

Elsewhere, whoever is in charge.

I didn't know being prosecuted for a crime was something hit and miss.

BaffertsWig
11-28-2017, 02:43 PM
9985 right now. BRING IT ON! :headbanger:

Dave Schwartz
11-28-2017, 03:57 PM
Is this a mystery? If you hack a server in the USA the FBI gets you.

Elsewhere, whoever is in charge.

I didn't know being prosecuted for a crime was something hit and miss.

I don't believe the word "hacking" was mentioned. The word you used was "theft."

So, my questions are, "Where was the crime committed?" and "Who has jurisdiction to investigate?"

It sounds to me like the crime would be committed "on the internet," as opposed to a physical country.

But even to use your response, how well does the FBI do with the Nigerian money scams? If that is any indication, then I'd say that there would not even be an investigation.

AltonKelsey
11-29-2017, 01:00 AM
What other theories you got? https://www.vanguardngr.com/2017/10/3-7m-scam-fbi-lauds-efccs-role-tracking-nigerian-fleeced-top-u-s-firms/

Dave Schwartz
11-29-2017, 01:38 AM
What other theories you got? https://www.vanguardngr.com/2017/10/3-7m-scam-fbi-lauds-efccs-role-tracking-nigerian-fleeced-top-u-s-firms/

LOL - You do realize that $3.7m is like 2% of the take in Nigeria, right?

You actually made my point.

_______
11-29-2017, 11:49 AM
Iím still not sure what it is, but it isnít a currency.

Currencies are transactional and a store of value. Bitcoinís current success in the latter completely eliminates it use for the former.

Who, in their right mind, spends something today that could be worth 10% more tomorrow?

Valuist
11-29-2017, 01:16 PM
It certainly feels like 1999, as we hear "its different this time". Its always "different" at the height of manias. Cisco was supposed to become the biggest company in the world, remember that? JDS Uniphase was going to revolutionize all telecommunications, too. Still waiting for that to happen.

AltonKelsey
11-29-2017, 01:24 PM
Really? I posted a single data point, and you assume that was the only case?

https://newtelegraphonline.com/2017/10/nigeria-us-prosecute-20-cyber-criminals-2-years




https://www.theregister.co.uk/2017/05/25/nigerians_sentenced_to_prison_online_scamming

I await your next commentary

BaffertsWig
12-06-2017, 09:17 AM
9985 right now. BRING IT ON! :headbanger:

Will we hit 13k today? Plenty of catalysts next week with futures and forks. BRING IT ON! :headbanger:

BaffertsWig
12-06-2017, 02:21 PM
Will we hit 13k today?


YES WE CAN! :jump:

newtothegame
12-08-2017, 01:06 PM
Insanity!!
The move the past few weeks is total insanity!

Parkview_Pirate
12-09-2017, 01:26 AM
A flurry of bitcoin posts today at ZeroHedge:

volatility:
http://www.zerohedge.com/news/2017-12-08/20-times-more-volatile-dollar

whales:
http://www.zerohedge.com/news/2017-12-08/bitcoin-has-whale-problem-1000-investors-control-nearly-half-market

Craigslist:
http://www.zerohedge.com/news/2017-12-08/bitcoin-mania-hits-craigslist-sellers-can-now-use-cryptocurrency-method-payment

(lack of) rules:
http://www.zerohedge.com/news/2017-12-08/crypto-cornucopia-part-3-system-no-justice-no-order-no-rules-no-predictability

crash next year:
http://www.zerohedge.com/news/2017-12-08/bitcoin-collapse-equity-flash-crash-fed-loses-control-saxos-outrageous-predictions-2

Hmmm.

highnote
12-09-2017, 05:27 PM
Bitcoin is starting to function like a real currency after a small concentration of people acquire the majority of it:

https://www.theonion.com/bitcoin-on-path-to-functioning-just-like-real-currency-1821128169

https://www.theonion.com/bitcoin-plunge-reveals-possible-vulnerabilities-in-craz-1821134169

AltonKelsey
12-09-2017, 09:00 PM
I get all my news from the Onion.

highnote
12-09-2017, 09:05 PM
I get all my news from the Onion.

It's better than fake news.

PICSIX
12-10-2017, 07:07 AM
On December 11th futures traders can start betting against Bit Coin.:rip:

BaffertsWig
12-12-2017, 02:19 PM
Litecoin has been exploding as of late as well. Sucks for those who hate making money. :pound:

reckless
12-12-2017, 05:50 PM
How long into 2018 will it be before the Winklevoss boys get arrested for wire fraud? Just asking.

On Monday morning, I saw Maria Bartiromo ask the two twins very straight, simple and well-thought out questions pertaining to Bitcoin, yet the boys 'failed' in their answers, imo.

Later in the afternoon, these two were on another Fox Business show and still had trouble answering basic and relatively easy questions from the hostess.

I had enough of these guys so I missed their appearance on Stuart Varney's show today. I hoped they prepared for Varney but being Harvard grads I am sure they didn't need to. :rolleyes:

I did find it odd that most people who follow the markets never really heard of these guys, yet they were on three Fox shows in two days!

When this crypto-currency scam eventually ends --hopefully sooner rather than later-- people should wise up -- but probably won't knowing human nature and all.

AltonKelsey
12-12-2017, 08:32 PM
They are a suspicious looking pair at the very least.

Didn't catch the appearances but they were early and large in their bitcon investment.

I still don't get why they are paying big money for something a moron can duplicate. Just because a large collection of morons decide to juggle the same thing, that makes it infinitely valuable?

Ok, so it's not morons, its guys with computers running a public domain program. Big diff there right?

imo it's insane, but not as insane as not befitting from the madness of crowds. thus the paradox

woodtoo
12-22-2017, 03:07 PM
I hear the bitcoin is crashing right now, true?

Valuist
12-22-2017, 10:37 PM
Yep. Took about 3 days to reach bear market territory. Charts that go straight up always end in tears for the masses. There are no "temporary pullbacks'.

barahona44
12-23-2017, 07:58 AM
Yep. Took about 3 days to reach bear market territory. Charts that go straight up always end in tears for the masses. There are no "temporary pullbacks'.

"Martha, I read in People magazine all about this new fangled Bitcoins, it's going through the roof, we should cash in our IRA's and make some money..."

thaskalos
12-23-2017, 01:18 PM
For the last month or so, well-meaning friends have been bombarding me with calls and text messages...telling me to stop wasting my time with this "gambling nonsense", and to get into cryptocurrencies...where "every horse wins". When this sort of "euphoria" becomes widespread about a particular type of investment...can a steep correction be far behind?

But I think people are now giving up on Bitcoin a bit too soon. Rough waters are to be anticipated when an investment-vehicle seeks to circumvent the vice-like grip of the banks that govern our world...because such a venture is sure to create some very powerful enemies.

After considerable study, I have become a believer of the cryptocurrency philosophy, and I consider this steep decline to be just a "shakeout manouver"...which seeks to scare the meek out of any long-term position in Bitcoin. In our world...the big profits aren't for the "feint-of-heart".

I see Bitcoin sinking to about $10,000...at which point I will jump onto the bandwagon in a big way myself...for the LONG term. The bible got it wrong...it's the BOLD who inherit the earth. :cool:

BetHorses!
12-25-2017, 01:52 PM
Yep. Took about 3 days to reach bear market territory. Charts that go straight up always end in tears for the masses. There are no "temporary pullbacks'.

https://www.youtube.com/watch?v=6uvEf4xGD1c

Valuist
12-28-2017, 12:55 PM
https://www.youtube.com/watch?v=6uvEf4xGD1c

I've always liked Carter Worth's technical analysis, but I'm going to have to go against him here. First off, there's another bloodbath today, so there's further damage to the chart than there was last Friday, when he made the video.

Just feels too much like 1999-2000 all over again. When one repeatedly hears "it's different this time", chances are highly likely it isn't. Too much of the public is aware now, and we all know those last to get involved always end up getting slaughtered.

Valuist
12-28-2017, 12:58 PM
For the last month or so, well-meaning friends have been bombarding me with calls and text messages...telling me to stop wasting my time with this "gambling nonsense", and to get into cryptocurrencies...where "every horse wins". When this sort of "euphoria" becomes widespread about a particular type of investment...can a steep correction be far behind?

But I think people are now giving up on Bitcoin a bit too soon. Rough waters are to be anticipated when an investment-vehicle seeks to circumvent the vice-like grip of the banks that govern our world...because such a venture is sure to create some very powerful enemies.

After considerable study, I have become a believer of the cryptocurrency philosophy, and I consider this steep decline to be just a "shakeout manouver"...which seeks to scare the meek out of any long-term position in Bitcoin. In our world...the big profits aren't for the "feint-of-heart".

I see Bitcoin sinking to about $10,000...at which point I will jump onto the bandwagon in a big way myself...for the LONG term. The bible got it wrong...it's the BOLD who inherit the earth. :cool:

There is virtually no support until around the $5000 level. Remember, it wasn't long ago at all when Bitcoin was at the $5000 level. It if falls down there, bottoms and consolidates for awhile, I'd consider buying in. But not a moment before that.

Tape Reader
01-17-2018, 05:26 PM
For the last month or so, well-meaning friends have been bombarding me with calls and text messages...telling me to stop wasting my time with this "gambling nonsense", and to get into cryptocurrencies...where "every horse wins". When this sort of "euphoria" becomes widespread about a particular type of investment...can a steep correction be far behind?

But I think people are now giving up on Bitcoin a bit too soon. Rough waters are to be anticipated when an investment-vehicle seeks to circumvent the vice-like grip of the banks that govern our world...because such a venture is sure to create some very powerful enemies.

After considerable study, I have become a believer of the cryptocurrency philosophy, and I consider this steep decline to be just a "shakeout manouver"...which seeks to scare the meek out of any long-term position in Bitcoin. In our world...the big profits aren't for the "feint-of-heart".

I see Bitcoin sinking to about $10,000...at which point I will jump onto the bandwagon in a big way myself...for the LONG term. The bible got it wrong...it's the BOLD who inherit the earth. :cool:

Nice bounce off around 10,000 today. Was that you?

Good call !

BIG49010
02-05-2018, 02:22 PM
Anyone nibbling here, or is it a falling knife?

PaceAdvantage
02-05-2018, 02:38 PM
bitcoin was an early warning sign for the market itself, apparently...

BIG49010
02-05-2018, 03:48 PM
Some bottom fishing at 6,500 and moved back up after being down 20% today? That will probably establish a level of support?

BaffertsWig
02-05-2018, 05:05 PM
Anyone nibbling here, or is it a falling knife?


Everything is on sale, I'm still on the sidelines. Have a small amount in alts that are obviously tanking.

AltonKelsey
02-05-2018, 10:06 PM
bitcoin was an early warning sign for the market itself, apparently...

nah, Tulips circa 1400's ?? was the first indicator . Then again, I hear they used to spike Myrrh futures in old Bethlehem when the mood struck

BIG49010
03-08-2018, 10:49 PM
Anyone looking at Bitcoin with this SEC related drop to 9000?

I read an interesting note, how perhaps Blackberry may hold many patients that are being violated by the Bitcoin people, but who would they go after?

LemonSoupKid
03-09-2018, 12:38 PM
People are underestimating how the new generation will use it as a long play, it is settling, but still a strong buy around 8k, for sure.

Just on the basis of sportsbooks and exchanging money, it has huge utility.

After PASPA is overturned, that utility only gets greater.

BIG49010
03-14-2018, 03:48 PM
Decided to take a shot today with a small bet on BITCOIN, I bought the ETF GBTC for 14.40 a share / about 8340 was the BTC - USD.

See how it goes, but can't imagine much more bad news, and if we are pushing up against the 21 million total Bitcoins ceiling, we should go up!

JerryBoyle
03-21-2018, 11:53 PM
Admittedly a bitcoin novice, but what if governments stop allowing companies to accept it as a form of payment? Could this not stop growth in market share as a form of currency? I believe a common argument is that they can't stop people from holding it/exchanging it for goods/services, but wouldn't preventing businesses from using it be a huge part of that market? Basically only used for peer-to-peer transactions and the black market?

AltonKelsey
03-22-2018, 01:21 PM
Admittedly a bitcoin novice, but what if governments stop allowing companies to accept it as a form of payment? Could this not stop growth in market share as a form of currency? I believe a common argument is that they can't stop people from holding it/exchanging it for goods/services, but wouldn't preventing businesses from using it be a huge part of that market? Basically only used for peer-to-peer transactions and the black market?

What's the % of holdings that are used for actual purchases vs pure price speculation?

No way to know for sure, but I'd say less than 5%. Maybe way less

JerryBoyle
03-22-2018, 01:35 PM
What's the % of holdings that are used for actual purchases vs pure price speculation?

No way to know for sure, but I'd say less than 5%. Maybe way less

At the end of the day won't it only have value if it can be used as a currency? If it's only used for price speculation then isn't it really just like the tulip bubble?

Are there other things that are traded for pure speculation and have no other value? I can't think of any off the top of my head

AltonKelsey
03-22-2018, 04:28 PM
What value did a beanie baby have?

Folks get off on crypto, it makes them think they are new age or something.

The really stupid names they give them are a tipoff to the crowd that's at work here.