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Ren's old crypto thread || we know how to buy this stuff now (2 Viewers)

RUSF18 said:
I'm really trying but I just can't wrap my head around what the end game is here. Yes I understand that prices of these things go up as people value them more. That's simple enough for anyone to understand. A bitcoin was worth $10 one day, now it's worth $1,000 or maybe $10,000. Great, that can happen with any commodity or something as simple as a baseball card.

But what is stopping this from being one giant ponzi scheme and the bottom dropping out completely? Am I way over-simplifying the fact that these alternate currencies are literally invented out of nowhere?

I feel like Josh Baskin in the pitch meeting. But I also like free money so if there is one resource you had to share with a person like me, what would it be?
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It does seem somewhat tulip bulbish.

 
Hate myself for not doing this a year ago. I have buddies who have been talking about and mining this stuff for years. I wish I were more responsible and smarter with my money as a younger man....

Anyway, in for $5k each of BTC, LTC and ETH.  I'm using coinbase.  May start regularly plunking down a few thousand more in each here and there over time. 

 
Otis said:
Hate myself for not doing this a year ago. I have buddies who have been talking about and mining this stuff for years. I wish I were more responsible and smarter with my money as a younger man....

Anyway, in for $5k each of BTC, LTC and ETH.  I'm using coinbase.  May start regularly plunking down a few thousand more in each here and there over time. 
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If you're going to be buying in chunks like that I would check out Gemini exchange, cheaper than Coinbase AND the fees are tiny in comparison.

 
It's kind of crazy right now. I think tons of people (like myself) are buying just because they see it always going up, but not really sure what to make of all these cryptocurrencies. I understand the endgame for Ethereum (can change how we interact with the internet/apps) so I'm a little more bullish on it's future, but not so sure with bitcoin. I feel bitcoin will always be around because of illegal activity, but I don't get why there's so much "value" in one bitcoin aside from speculation. The only hope is if cryptocurrencies become the norm and really not sure that's gonna happen for another 2 decades until the baby boomers start to die off. I mean people are slow to use digital payment options like Venmo, Paypal, Apple Pay, and Android wallet now....how much more a digital currency that's not backed by any government and not accepted by everyone. Just seems like huge hurdles for bitcoin and when people finally come around to cryptocurrencies...who knows if it'll be bitcoin?

 
Charlie Harper said:
It's kind of crazy right now. I think tons of people (like myself) are buying just because they see it always going up, but not really sure what to make of all these cryptocurrencies. I understand the endgame for Ethereum (can change how we interact with the internet/apps) so I'm a little more bullish on it's future, but not so sure with bitcoin. I feel bitcoin will always be around because of illegal activity, but I don't get why there's so much "value" in one bitcoin aside from speculation. The only hope is if cryptocurrencies become the norm and really not sure that's gonna happen for another 2 decades until the baby boomers start to die off. I mean people are slow to use digital payment options like Venmo, Paypal, Apple Pay, and Android wallet now....how much more a digital currency that's not backed by any government and not accepted by everyone. Just seems like huge hurdles for bitcoin and when people finally come around to cryptocurrencies...who knows if it'll be bitcoin?
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As far as the bolded, I would do a little more reading to get a better understanding. Granted, I've been reading for months and am just scratching the surface. Anyway, Bitcoin is not, and has never been private, nor is that the goal. Every transaction is broadcasted on the blockchain.

Bitcoin is a store of value just like any other currency. Except it is not controlled by any 1 organization (government), and there will only ever be a maximum of 21 million bitcoins, ever. No matter what.

And, you can send it across the world in minutes, without having to go through a bank.

 
Otis said:
Hate myself for not doing this a year ago. I have buddies who have been talking about and mining this stuff for years. I wish I were more responsible and smarter with my money as a younger man....

Anyway, in for $5k each of BTC, LTC and ETH.  I'm using coinbase.  May start regularly plunking down a few thousand more in each here and there over time. 
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Imagine if you had cashed out that insane blackjack run years ago, and threw it all into bitcoin.  Millions.  Literally.  

 
Skoo said:
As far as the bolded, I would do a little more reading to get a better understanding. Granted, I've been reading for months and am just scratching the surface. Anyway, Bitcoin is not, and has never been private, nor is that the goal. Every transaction is broadcasted on the blockchain.

Bitcoin is a store of value just like any other currency. Except it is not controlled by any 1 organization (government), and there will only ever be a maximum of 21 million bitcoins, ever. No matter what.

And, you can send it across the world in minutes, without having to go through a bank.
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I get that it's decentralized, but outside of tech geeks, speculators, and criminals I don't the think the every day joe cares about that. Maybe the elite of impoverished countries with other shady governments, but even then do you really see the every day person using an electronic currency when they still have to buy milk with real world currency?

When ALL the bitcoined is mined....what stops people from jumping to the next cryptocurrency? 

Right now I can send money across the world using Venmo or PayPal for free. Yes, it goes to a bank...but again does the everyday user care that it does? 

I'm not saying bitcoin will be obsolete, but I really think the rise in price is just a bunch of speculation. I have some skin in the game, but I'll be looking to take out my capital as soon as I can and letting the rest ride. 

 
Dedfin said:
Thanks Ren Ho3k for this thread.  OK, so whats the recommended exchange?  Gemini?
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It really depends on the currency you're after.  For the purchase of bitcoin, ethereum, and litecoin, I've always used Coinbase.  They have pretty favorable exchange rates and seem solid, though others have reported there are exchanges with better rates.  They also have yet to give Bitcoin holders from before the fork their equivalent balances in Bitcoin Cash.  For stuff like ERC-20 tokens and other alts, I'd probably stick with BitTRex and Changelly whenever possible, but you can always look at different markets in the coin's page on https://coinmarketcap.com/

 
this is exactly the kind of thing i've been waiting for to buy in.  of course then i go to do it and realize that i never verified my payment method on coinbase.  please keep dropping.

once my payment method has been verified, i can buy right away right?

then I should do what to make sure that my coins are secured?  physical wallet or other digital wallet?

 
harryhood said:
I'm holding roughly 5 ether, and 5 lite coins through coinbase.  That makes up about 40% of my investment with the remaining 60% in NEO which has been dubbed the " Ethereum of China" .   

From everything I read NEO is far more ready to roll internationally, as opposed to Ethereum.   ETH also require knowledge of specialized programming language (solodity) to develop apps while NEO can utilize C #/++, java, .net.  holding neo in my wallet also earns me GAS coin which is currently trading at $20

https://futurism.com/a-new-blockchain-platform-is-taking-on-ethereum/

https://seekingalpha.com/article/4100787-next-crypto-giant
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where to buy NEO?

 
Long Ball Larry said:
where to buy NEO?
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https://coinmarketcap.com/currencies/neo/#markets

You'll have to register, send eth or btc to bittrex, and use those funds to exchange for NEO.  However, Coinbase usually has a 5/6 day waiting period before the eth/btc you purchase is available for use.  So probably best to just buy a #### ton of btc/eth for now.  

If I'd gotten out 3 days ago I'd have about 19k to blow on this market.  Instead I'm holding bags at 14 or so.  It'll come back, I just hate not having more money to put in right now.  

 
Rumors about that the new SEC Director of the Division of Investment Management (Dalia Blass) will OK an Ethereum ETF.  

Dalia Blass, if you were wondering, was an advisor to the Winklevoss' for their application to grant Bitcoin ETF status in April.  Things could get real crazy real quick.  

 
ren hoek said:
Rumors about that the new SEC Director of the Division of Investment Management (Dalia Blass) will OK an Ethereum ETF.  

Dalia Blass, if you were wondering, was an advisor to the Winklevoss' for their application to grant Bitcoin ETF status in April.  Things could get real crazy real quick.  
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I'm dumb about these things.  Does this mean they will allow investors to buy these on the exchanges like any other stock or ETF?  Making it much more "public friendly"?

 
Sputnikv8 said:
I'm dumb about these things.  Does this mean they will allow investors to buy these on the exchanges like any other stock or ETF?  Making it much more "public friendly"?
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Me too.  The impression I get is that an ETF would make it a tradeable stock on traditional exchanges tied to the price of ethereum, so boomers and the investment class can put money in index funds that dabble in ethereum.  It'd open up a lot of old money and exposure for ethereum, which to this point has really only had exposure to tech nerds.  

 
i'm out for the time being.  I follow this account for crypto news and color.  I don't understand a ton of it tbh, but it sounds like this could be bad.  I'll be on the sidelines for now and look to re-enter in the hopefully near future.

 
The whole market is tanking because of ####### China.  The stuff about them banning crypto exchanges appears to be mostly fake news.  The only official word I've seen to this point is that exchanges who continue carrying ICOs after the ban will be shut down.  That ethereum's mostly weathered that and holding strong around 300 (when it was down around 175 a few months ago) could be taken as a positive signal.  

I picked up a couple eth yesterday @307.  Between the forthcoming Metropolis update, Casper upgrade and BAT rollout there's a lot to look forward to the next few months.  Also buy Bitcoin Cash.  

 
SameSongNDance said:
I'm not too mad about it to be honest. I didn't invest anything I wasn't willing to lose and whenever this happens I just buy the dip and lower my average cost.
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to me, it's basically a lottery ticket.  I like the idea of tiny investments with tremendous scaling capabilities.  sprinkle them around and hope one hits.

 
ren hoek said:
The whole market is tanking because of ####### China.  The stuff about them banning crypto exchanges appears to be mostly fake news.  The only official word I've seen to this point is that exchanges who continue carrying ICOs after the ban will be shut down.  That ethereum's mostly weathered that and holding strong around 300 (when it was down around 175 a few months ago) could be taken as a positive signal.  

I picked up a couple eth yesterday @307.  Between the forthcoming Metropolis update, Casper upgrade and BAT rollout there's a lot to look forward to the next few months.  Also buy Bitcoin Cash.  
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What exchange you use for BCC? (is that the correct acronym for Bitcoin Cash? :lol:  )

 
Peyton Marino said:
i'm out for the time being.  I follow this account for crypto news and color.  I don't understand a ton of it tbh, but it sounds like this could be bad.  I'll be on the sidelines for now and look to re-enter in the hopefully near future.
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I'd consider selling if I didn't have to pay capital gains on it next year.  Still trying to figure out how to avoid that.  Or what I'm even saving it for.  

 
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Nathan R. Jessep said:
What exchange you use for BCC? (is that the correct acronym for Bitcoin Cash? :lol:  )
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:)

It appears to be BCH in the west, but BCC on Chinese exchanges.  BCC is BitConnect Coin, which is a different coin altogether.  The easiest way to buy it is with Changelly.  I'd recommend doing a small transaction first just to make sure it works before doing a big one.  The rates are much better if you're exchanging btc/eth than purchasing with USD.  Ironically enough they have Bitcoin Cash listed as BCC.  

You could also trade for it on Bit T-Rex and maybe get a slightly more favorable market price but it's hardly worth the trouble.  

 
Peyton Marino said:
i'm out for the time being.  I follow this account for crypto news and color.  I don't understand a ton of it tbh, but it sounds like this could be bad.  I'll be on the sidelines for now and look to re-enter in the hopefully near future.
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If @haralabob is IN on BTC and ETH.....I have no choice but to be all aboard now. I'm in for the long haul. He's made a killing on betting the NBA and is a real intelligent dude.

 
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Read the following in Alex Jones voice
>Folks just go over to infowarslife.com and get yourself some discount crypto currency, I'm telling you this is the stuff the globalists can't handle. Again that's infowarslife promo code "freedom". So please folks buy some crypto and help us fight the info war against the globalists

 
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