Crypto currency discussion

[Kurlon]

Also note that as the number of bitcoin 'mined' increases, so does the difficulty of mining new ones, so in theory the last coin should never actually be mined.

[DuncanMoto]

So funny how I am rarely on this forum anymore, but I thought... Hey! I'll bet some of those NESR guys are into Crypto and can teach me some stuff.
;-)
I bought some back in June and had no clue what I was doing. Didn't know util the last couple weeks, how to access, trade, sell, buy, or pay with it.
For me, it all started in early 2017 when a client asked if he could pay my $150 labor bill with .25 of a Bitcoin. I said, sorry, I don't even know what to say to that. USD only please.
I got some very basic info on it and he told me it was almost $1,000 per coin, so Id make a lot more than being paid in USD. He paid and tipped me USD cash as I requested. If I had taken my fee in bitcoin instead and not spent it... It would be over $2,500 today. :-O Needless to say, I did limited research back in March and judged it a scam of some sort. Then I decided to throw away some cash back in June at $2,500 and I'm glad I did. I'm not rich off that gamble, because I looked at it like I only want to buy what I can afford to lose 100% of. I suggest you all do the same to start. Expect to lose it all and be pleasantly surprised if you end up profiting.

Hit me up on facebook messenger if you're serious about learning more.

[Cerberus]

point of interest on this subject.. A friend of mine is a C level officer in a world wide banking institution that offers accounts & international movement of funds which may or may not using cryptocurrencies to (store?) move those funds..
and the membership roles and funds held are growing at an explosive rate. This seems to lend itself to greater acceptance and stability / growth.
wishing i had a time machine..

[Falko]

So if this cryptocurrency is not based on monetary value, how do you buy in?

[jasnmar]

There's effectively an "exchange rate" if you want to buy in with money. It's really no different than exchanging USD for Pesos or Euros or RMB.

As has been mentioned, some people also use it directly in exchange for goods or services rendered, which is another way to get it.

If you actually want to buy it there are some online exchanges that you can register with. There are "bitcoin vending machines" that you can use to purchase it. You can buy it from a person using something like Just a moment...

[capitalcrew]

point of interest on this subject.. A friend of mine is a C level officer in a world wide banking institution that offers accounts & international movement of funds which may or may not using cryptocurrencies to (store?) move those funds..
and the membership roles and funds held are growing at an explosive rate. This seems to lend itself to greater acceptance and stability / growth.
wishing i had a time machine..

That's what XRP wants to do but I have no idea what about it is more appealing than just using btc or any other coin. I know ripple developed software to do it and the coin is supposed to go with that.. but how they get from point a to point b is still a bit of a mystery to me.

For example.. Ripple Spreading Through: Standard Chartered and Axis Bank to Use the Tech - Ethereum World News Not using XRP.

[Tekime]

I'm not totally convinced of the long-term viability of current cryptocurrencies, but I definitely think digital currency is a huge untapped opportunity. Where it goes is the question. I'm sort of kicking myself for looking at Bitcoin years ago and saying "meh, I'll wait".

Currently Litecoin and ripple have my interest.

[jasnmar]

This is long, but if you are really bored, worth a read... In Search of the Elusive Bitcoin Billionaire - Reason.com

[snwbrdr435]

Bitcoin just broke 10k and litecoin is over 100, impressive week

[Falko]

Is crypto the new safe haven like gold was?

[Chippertheripper]

Btc is almost at 11k. Yowza.

[capitalcrew]

Is crypto the new safe haven like gold was?

Absolutely not. Don't put it in crypto if you're not comfortable with it disappearing over night.

That being said, I went nuts this morning and put another 7 grand in lol.

- - - Updated - - -

Btc is almost at 11k. Yowza.

It's over right now. Ltc is over 103. Eth is at 507.

[Chippertheripper]

Yeah, I just looked again. Coinbase must have a delay in their app. Crazy.
I did not get in early enough to make a fortune, but I doubled up in less than a month. That’s nuts.

[capitalcrew]

I expect to see ltc go nuts in the next year.

[Chippertheripper]

Like I said earlier, I don’t think you can go wrong here. I assume with a great bit of certainty that weaker platforms will simply be absorbed/bought out by stronger performers.

[capitalcrew]

Holy shit. Btc is going for 12k today. 11.5 already

[capitalcrew]

Like I said earlier, I don’t think you can go wrong here. I assume with a great bit of certainty that weaker platforms will simply be absorbed/bought out by stronger performers.

I don't believe that's possible.

[capitalcrew]

Aaaaaaaand it crashed.

[Tas]

is this the same as bit cash as i think the radio termed it? Call me old, old school but because anything electronically can be hacked i have strong reservations about it.

[Chippertheripper]

Of course, there were probably a bunch of people waiting until 10k to sell. It’s still way up.

[capitalcrew]

Of course, there were probably a bunch of people waiting until 10k to sell. It’s still way up.

Hit 8700 for a minute there. Pretty wild. Recovering a bit now. I don't feel so bad about it where it is. Still losing money but at least the bottom isn't falling out lol

[JettaJayGLS]

is this the same as bit cash as i think the radio termed it? Call me old, old school but because anything electronically can be hacked i have strong reservations about it.

There's actually really good articles on this exact topic. Girlfriend's father is a very seasoned software engineer and this is his major concern; it is only ever as safe as the underlying blockchain code.
Crypto-Gram: August 15, 2017 - Schneier on Security

The "crash" was inevitable. It will go back.....and then fall, and then go back, and then fall, and all sorts of things. You have this trifecta of 1) a track record of MASSIVE volatility, that everyone things they can profit on, 2) uneducated, emotional "investors" that don't understand how markets work, and 3) Hysteria/Craze only comparable to Donald Trump.

[number9]

There's actually really good articles on this exact topic. Girlfriend's father is a very seasoned software engineer and this is his major concern; it is only ever as safe as the underlying blockchain code.
Crypto-Gram: August 15, 2017 - Schneier on Security

It's not even that safe -- it's only as safe as the electronic wallet that you store it in.

There have been literally dozens of hacks where electronic wallets have been stolen, and all your BTC goes with it. Hundreds of millions of dollars worth have been hacked/stolen already. Yeah, if you have cash, that can get stolen too; but banks get hacked a lot less often than electronic wallets.

3) Hysteria/Craze only comparable to Donald Trump.

To be fair, Bitcoin is actually useful.

[snwbrdr435]

Coinbase Ordered to Turn Over Identities of 14,355 Cryptocurrency Traders to the IRS - Motherboard

[Cerberus]

Like I said earlier, I don’t think you can go wrong here. I assume with a great bit of certainty that weaker platforms will simply be absorbed/bought out by stronger performers.

not that i have any basis for this, but i think all blockchain related tech currencies will grow, not just big ones crushing newcomers...