Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Mon Nov 20, 2017

It has been suggested that a blow-by-blow account of my crypto dealings is annoying and smacks of gloating. That was not my intention, as I have admitted mistakes as well (I could easily be 2 or 3 times better off), but point taken and I will dial it down. :oops:

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Mon Nov 20, 2017

An interesting opinion piece by a member of the Chicago Mercantile Exchange, responding to concerns on both sides of the pending launch of Bitcoins futures on the CME.

https://www.coindesk.com/fud-sides-defe ... ures-plan/

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grantwoodisgold
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Re: Bitcoins - fad or trend?

Postby grantwoodisgold » Mon Nov 20, 2017

Long John wrote:It has been suggested that a blow-by-blow account of my crypto dealings is annoying and smacks of gloating. That was not my intention, as I have admitted mistakes as well (I could easily be 2 or 3 times better off), but point taken and I will dial it down. :oops:


on the other side..... i have appreciated your (and others) dealing details and have learned much about how different people use/view/etc "assets" as compared to me :thumbup:
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Mon Nov 20, 2017

grantwoodisgold wrote:
Long John wrote:It has been suggested that a blow-by-blow account of my crypto dealings is annoying and smacks of gloating. That was not my intention, as I have admitted mistakes as well (I could easily be 2 or 3 times better off), but point taken and I will dial it down. :oops:


on the other side..... i have appreciated your (and others) dealing details and have learned much about how different people use/view/etc "assets" as compared to me :thumbup:

Ditto.
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Re: Bitcoins - fad or trend?

Postby agnostic » Mon Nov 20, 2017

https://m.youtube.com/watch?v=YSn7Iomisyc
This fellow answers many questions I've had about Cryptos. Human nature is
Inherently greedy. AI is taking advantage of this. This video is worth your time.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Nov 20, 2017

Between the ATH in bitcoin, the near high's in ETH, and the bounce of NEO over $40, I have decided to make a move. I have transitioned about 10% of my crypto portfolio and moved it onto GDAX and am now ready to buy back in during a possible big dip. I don't know how large the next big dip will be. It depends on the catalyst. However, if this USDT Tether situation takes down Bitfinex - which has the most bitcoin trading volume among all exchanges (9%), then it could be a major pullback. If you don't know what I'm referring to, see this thread: http://www.bullionstacker.com/viewtopic.php?f=108&t=29085

It is the same reason I am such a fan of QRL. I like to hedge against tail risk, and the more likely an "unlikely" tail risk becomes the more interested I get.

I was relatively new to crypto when we had the first real big crash from about $1,100 down to $220 over the course of a year plus (thanks Mt Gox). That was somewhat painful, and a collapse by an exchange should not have a similar 80% decline in price because there are so many exchanges now. But it won't be the exchange that creates the main problem, but the loss of faith in the USDT trading pair coupled with the largest exchange blowing up could cause a 50% (or more?) pullback, if it happens. The haters will come out in force if this does go down. But it will also be the absolute best time to buy back in. We don't need USDT anyway, and Bitfinex is merely one of dozens of exchanges. But if/when we see a 25-30% drop in price, those new to crypto who haven't really experienced this type of pullback will get to test their mettle. I have a buy order in at $1,001 per bitcoin at GDAX now, just in case ;)
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Re: Bitcoins - fad or trend?

Postby agnostic » Mon Nov 20, 2017

"Back in '82 I used to be able to throw a pigskin a quarter mile" --Uncle Rico

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

Hey ya'all, I would like to suggest that you don't trust Gmail with your online wallets password or your crypto addresses. I've just lost $15,000 in gains from a $600 investment because, as far as I can consider it, it was Gmail that was the weak link in the chain. I'm not sure, and I can't prove it, but if you make a transaction, I would suggest that don't use Gmail for a large purchase. Call the other party on the telephone and give them your address. I'm not blaming Google or Gmail for this loss. It was a stupid mistake on my part, a complete lax of security. Bitcoin passwords are long and a pain in the butt, but it is totally more secure than emailing a password to a stranger.

Thanks to God for my KeepKey, all of my Bitcoins are safe and secure. Don't store Crypto on if you use a personal email address or a hot wallet. If you do buy Crypto, get a cold hardware wallet, or buy the IPO (not icos). Bullion Stackers is about making money, and not about losing it.

Good insurance is cheap. You can buy an Win 10 AcePC for $179, and when you buy Bitcoin, take the AcePC off line. Cell phones are not safe devices. Do not trust your phone for storage, they are spy devices. Buy an AcePC and keep it offline and unpowered until you want to cash out.
Last edited by Bucketeer on Mon Nov 20, 2017, edited 1 time in total.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

A $15000 loss. I look at my wallet and say "WTF Tom?" Be secure, and don't be a dummy like me.
Last edited by Bucketeer on Mon Nov 20, 2017, edited 1 time in total.
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

SilverDoge wrote:Between the ATH in bitcoin, the near high's in ETH, and the bounce of NEO over $40, I have decided to make a move. I have transitioned about 10% of my crypto portfolio and moved it onto GDAX and am now ready to buy back in during a possible big dip. I don't know how large the next big dip will be. It depends on the catalyst. However, if this USDT Tether situation takes down Bitfinex - which has the most bitcoin trading volume among all exchanges (9%), then it could be a major pullback. If you don't know what I'm referring to, see this thread: http://www.bullionstacker.com/viewtopic.php?f=108&t=29085

It is the same reason I am such a fan of QRL. I like to hedge against tail risk, and the more likely an "unlikely" tail risk becomes the more interested I get.

I was relatively new to crypto when we had the first real big crash from about $1,100 down to $220 over the course of a year plus (thanks Mt Gox). That was somewhat painful, and a collapse by an exchange should not have a similar 80% decline in price because there are so many exchanges now. But it won't be the exchange that creates the main problem, but the loss of faith in the USDT trading pair coupled with the largest exchange blowing up could cause a 50% (or more?) pullback, if it happens. The haters will come out in force if this does go down. But it will also be the absolute best time to buy back in. We don't need USDT anyway, and Bitfinex is merely one of dozens of exchanges. But if/when we see a 25-30% drop in price, those new to crypto who haven't really experienced this type of pullback will get to test their mettle. I have a buy order in at $1,001 per bitcoin at GDAX now, just in case ;)


You've got a $1001 buy order on GDAX??? It makes sense to me, but I've never considered it. I don't have all that much money in Bitcoin, but Bitcoin will always have value. I'm gonna place a GDAX buy at $1003. Sorry bro!
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Nov 20, 2017

Bucketeer wrote:Hey ya'all, I would like to suggest that you don't trust Gmail with your online wallets password or your crypto addresses. I've just lost $15,000 in gains from a $600 investment because, as far as I can consider it, it was Gmail that was the weak link in the chain. I'm not sure, and I can't prove it, but if you make a transaction, I would suggest that don't use Gmail for a large purchase.


I'm not sure how you lost the funds? Were you storing a private key somewhere on Gmail's server?
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

agnostic wrote:https://singularitynet.io


A great link. I'm a old guy, and I'll glad I'm dead before the Singularity happens. I pity my grandchildren.
Last edited by Bucketeer on Mon Nov 20, 2017, edited 2 times in total.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

SilverDoge wrote:
Bucketeer wrote:Hey ya'all, I would like to suggest that you don't trust Gmail with your online wallets password or your crypto addresses. I've just lost $15,000 in gains from a $600 investment because, as far as I can consider it, it was Gmail that was the weak link in the chain. I'm not sure, and I can't prove it, but if you make a transaction, I would suggest that don't use Gmail for a large purchase.


I'm not sure how you lost the funds? Were you storing a private key somewhere on Gmail's server?


Yep, I was. Thieves are everywhere. Be safe and be secure. If hackers can crack the CIA, NSA, and Social Security, why would you believe that Gmail is secure?

Use a hardware wallet, or a paper wallet, but get it off the web!
Last edited by Bucketeer on Mon Nov 20, 2017, edited 2 times in total.
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agnostic
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Re: Bitcoins - fad or trend?

Postby agnostic » Mon Nov 20, 2017

Bucketeer wrote:
agnostic wrote:https://singularitynet.io


A great link. I'm a old guy, and I'll glad I'm dead before the Singularity happens. I pity my grandchildren.

The singularity has already happened and is in process as we speak. Crypto currencies
are the gateway for AI. It's not all just about making money :roll:
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

Post Mortem, it was just another dumb a## move on my part. I sent the Qtum from my phone to my computer. I've said before that I'm a big dummy. I just checked the computer, and it's all there..

My advice, don't do personal financials when you've been drinking. Keep your coins off your phone and your computer. Phones are OK for storage if you pull the battery out, but I don't recommend them. Are companies still going to make your battery in 25 years?

You can buy a Win 10 PC from Amazon for $179.

My last ex was right when she called me a "big dummy". That's probably why I got involved in Bitcoin, but thankfully it has worked out for me.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

agnostic wrote:
Bucketeer wrote:
agnostic wrote:https://singularitynet.io


A great link. I'm a old guy, and I'll glad I'm dead before the Singularity happens. I pity my grandchildren.

The singularity has already happened and is in process as we speak. Crypto currencies
are the gateway for AI. It's not all just about making money :roll:



You are correct, and I hate it.

The HS graduation rate is about 60% here in central Florida. That means we are going to be paying huge funds for welfare or the prison system (or both). AI makes the future look bleak. Good bye middle-class.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Nov 20, 2017

Bucketeer wrote:Post Mortem, it was just another dumb a## move on my part. I sent the Qtum from my phone to my computer. I've said before that I'm a big dummy. I just checked the computer, and it's all there..

My advice, don't do personal financials when you've been drinking. Keep your coins off your phone and your computer. Phones are OK for storage if you pull the battery out, but I don't recommend them. Are companies still going to make your battery in 25 years?

You can buy a Win 10 PC from Amazon for $179.

My last ex was right when she called me a "big dummy". That's probably why I got involved in Bitcoin, but thankfully it has worked out for me.


Well that is way better than losing $15k. I don't drink and trade for sure.
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Re: Bitcoins - fad or trend?

Postby natsb88 » Mon Nov 20, 2017

I guess BTG is trading on Bittrex now?

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 20, 2017

Good deal - more money for us Holders. I wouldn't be a buyer of Bitcoin Gold, but if it develops a real market, more power to it. Fiat is gonna be dead within 20 years or less.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Tue Nov 21, 2017

The market dropped a bit tonight, pretty much across the board, with BTC down to almost $7800. If you consider $7800 Bitcoin "down" :lol: But it's bounced back over $8K at this hour.


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