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Ren's old crypto thread || we know how to buy this stuff now (1 Viewer)

I'm not a gambling degenerate but apparently SatoshiDice is pretty good

Nvm I've heard about it many times but apparently it's ip-blocked here in Burgerland 

 
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This all kind of reminds me when online poker was just starting...hear me out...

1. Relatively easy way to make money. 

2. Internetz related.

3. Not regulated. 

4. #### could hit the fan any moment and no one would see it coming.

5. Many people are up big now.

6. People are taking out mortgages to buy crypto currencies. 

7. A lot of unknown about the actual service/product and the companies "assisting".

Ummm...I'm sure there's more. Just some random thoughts. 

 
eoMMan said:
This all kind of reminds me when online poker was just starting...hear me out...

1. Relatively easy way to make money. 

2. Internetz related.

3. Not regulated. 

4. #### could hit the fan any moment and no one would see it coming.

5. Many people are up big now.

6. People are taking out mortgages to buy crypto currencies. 

7. A lot of unknown about the actual service/product and the companies "assisting".

Ummm...I'm sure there's more. Just some random thoughts. 
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8. Icy pots

 
okay I hear these horror stories about exchanges getting hacked... and folks using offline storage (hardware or paper storage). 

Does anyone have a link to a primer on this? Do I just "Send" my ETH in coinbase to a QR code (or hardware wallet), lock the QR code/Hardware Wallet up, then re-enter it when I want to load the ETH back into an exchange to sell/trade? 



 

 
SameSongNDance said:
It's amazing that if you had taught a 10 year old how to buy on an exchange and gave him a sizeable bankroll a month ago that 10 year old would have almost certainly made bank. It's almost impossible to have lost over the past month. I've been dicking around on Binance for only a couple days and I've turned 1k into 1.4k and I know nothing.  I just follow certain subs/people, look for positive news or which coin everyone is shilling and buy in. It seems dangerous. 
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It's like Stocktwits for Cryptocurrencies.

 
ren hoek said:
I will say this.  I think the mainstream alts are rising while btc is stagnant because people want a clear exit path and can't get out from the exchanges reliably with bitcoin.  So bitcoin money is flowing into eth/ltc.  

It's like the higher its price rises, the more utility it loses.  If you extrapolate the fees out to the bitcoin price hitting the "$100k" number people keep throwing around, wouldn't the fees be in the thousands?  The floor for it being sensible to withdraw/transact in btc keeps getting higher and higher.  I'm thinking real hard about taking a flyer on segwit2x futures.  I think you can still buy them on hitbtc.  I don't think they can afford to wait for LN much longer.  
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I am pissed.  I bought some ether to make an exchange for b2x futures on Hitbtc and because it's taken a week to confirm, the price for b2x futures has risen from ~$186 to $430.  Instead of buying 2 and a half I might not even get 1.  Even users on the censored bitcoin subreddit are clamoring for a blocksize increase now.  B2x futures are blowing up on Hitbtc right now.  

I think Core is risking a price collapse, loss in hashpower, and chain death if they don't do something and do it now.  

 
Also, I decided to gamble on a few dogs.

Bytecoin got 100k in coins at .001 at .005.

Electra got a million coins at .00009 just bought today

Lampix 2000 coins at .05 up 100%

Lampix might be legit, cool product.

https://www.google.com/search?q=lampix+youtube&oq=lampix+youtube&aqs=chrome..69i57.9159j0j4&client=ms-android-verizon&sourceid=chrome-mobile&ie=UTF-8

These are not easy to buy as they are on small exchanges and probably not long terms holds but I see all getting 400%.

I got probably less than 500 bucks total in these.

 
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ren hoek said:
 Even users on the censored bitcoin subreddit are clamoring for a blocksize increase now.  B2x futures are blowing up on Hitbtc right now.  

I think Core is risking a price collapse, loss in hashpower, and chain death if they don't do something and do it now.  
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Can you elaborate on this for folks who have no idea what you're talking about here? Thanks!

 
Jayrod said:
I was coming in here to let everyone know that I just moved out of Litecoin today after a week of small dips and no gains and into BAT. 

What this means for all of you is that BAT is now going to stall out and LTC will jump.  Just thought I'd give everyone a heads up.  
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:lmao:   :lmao:

When I made this move, LTC was at like $303 and BAT was at like $0.42.

Now LTC is at $335 and BAT is at $0.37.  I have a gift for this sort of thing.

I'll let you all know the next time a make a move so you can do the polar opposite.

 
Jayrod said:
:lmao:   :lmao:

When I made this move, LTC was at like $303 and BAT was at like $0.42.

Now LTC is at $335 and BAT is at $0.37.  I have a gift for this sort of thing.

I'll let you all know the next time a make a move so you can do the polar opposite.
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I think trading crypto is a bad deal.  Buy and hold, then profit.  This is off my own bad beats.  

I think the game now is to put your money into lower priced alts.  Double your cash and depending on your risk tolerance cash out principal and free roll or let it ride.  

I got:

ripple at .20

Iota at .37

BitcoinCash 350

Ether 300

Lite 50

Btc 5500

Whenever I traded between these it was a mistake.

While they are all good investments, it is hard to buy iota at 5.00 when I got it at .37, etc...

 
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I had lunch today with a friend/business colleague who wrote some very important code in the 90s.  Super smart guy.  He thinks he knows who Satoshi Nakamoto and that guy worked worked for him in the early '00s.  He read over the white paper and some of it was eerily similar to a project they worked on together.

 
chet said:
I had lunch today with a friend/business colleague who wrote some very important code in the 90s.  Super smart guy.  He thinks he knows who Satoshi Nakamoto and that guy worked worked for him in the early '00s.  He read over the white paper and some of it was eerily similar to a project they worked on together.
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Nick Szabo?  He definitely seems the most likely candidate. 

 
[icon] said:
Can you elaborate on this for folks who have no idea what you're talking about here? Thanks!
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So Bitcoin functions as a currency by being mined.  If I send someone a bitcoin, by the grace of some miner dude, the transaction goes in the next block that the rest of the network confirms as valid.  Bitcoin was designed to become scarcer as time went on, on a curve that looks like this.  So the mining difficulty increases as time goes on / more and more bitcoins are mined into existence.  It's been estimated that the last of the 21 million bitcoin to ever exist should be mined some time around 2032 (currently 16.75 million).

Basically the chain death scenario would be the difficulty of Bitcoin's mining algorithm (cryptographic sequences to be solved by computers) adjusting too slowly to catch up with its falling price (or mining profitability in other words) in the event of a panic selloff and hashpower abandoning it for greater profits.  This video goes into it a little bit: https://youtu.be/PW4jRfkZOb8?t=17s

 
We're about to see how much of the recent pumps has been due to Coinbase. I wonder how many people will shuffle to BTC to BCH, maybe we'll see a flippening or maybe they will reach parity. It will be interesting to watch.

 
Seems like a clear case for insider trading against coinbase here. Could be downward price pressure in the near term.

 
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fantasycurse42 said:
Please tell me this doesn’t surprise you. This is all one huge get rich quick scheme where 98.5% of the underlying assets are worthless. 

I’m guessing Ripple is on deck.
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I don't think whoever fed the info this afternoon thought this through. Bitcoin on regulated exchanges now means coinbase will absolutely catch scrutiny from regulatory bodies for this.  They're not just going to get to do this with impunity.

 
Peyton Marino said:
I don't think whoever fed the info this afternoon thought this through. Bitcoin on regulated exchanges now means coinbase will absolutely catch scrutiny from regulatory bodies for this.  They're not just going to get to do this with impunity.
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Until I see some regulatory action against USDT/Bitfinex, I’m convinced it’s a free market with absolutely zero regulation.

You have the shadiest operators in the world using every one of these coins as a piggy bank. There are people walking away with 9 figures in Swiss bank accounts, man I wish I would’ve been in on some of this ####.

Apparently, when markets are completely illiquid on weekends, after hours, etc. there are 10’s if not 100’s of millions flying into sketchy unregulated offshore outfits. Who would’ve thought?

People are intrigued by Tether bc it is so blatantly obvious, yet still nothing. There will be nothing here either, at least for now... it’s coming, but not yet.

 
We expecting this to surge when coinbase and GDAX get their #### together? Worth buying in more at $3500? I am in at $3100 currently. 

 
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