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Crypto investors double their money in 30 minutes.
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2020 Jul 15, 5:33pm 1,772 views 28 comments
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1
just_passing_through
2020 Jul 16, 9:25am
just_passing_through
2020 Jul 16, 9:25am
Noticed a sign at the grocery recently: Fed is out of coins
WTF?
WTF?
2
RWSGFY
2020 Jul 16, 10:00am
RWSGFY
2020 Jul 16, 10:00am
just_adhom_preaching says
It means everything will be bought and sold with crypto starting next week. Now go and convert these useless $$ into beautiful shiny BTCs.
Noticed a sign at the grocery recently: Fed is out of coins
WTF?
It means everything will be bought and sold with crypto starting next week. Now go and convert these useless $$ into beautiful shiny BTCs.
3
WookieMan
2020 Jul 16, 10:06am
WookieMan
2020 Jul 16, 10:06am
FuckCCP89 says
Newbie in 5...4...3...2... and pump!
just_adhom_preaching saysNoticed a sign at the grocery recently: Fed is out of coins
WTF?
It means everything will be bought and sold with crypto starting next week. Now go and convert these useless $$ into beautiful shiny BTCs.
Newbie in 5...4...3...2... and pump!
4
just_passing_through
2020 Jul 16, 9:27pm
just_passing_through
2020 Jul 16, 9:27pm
Yeah, the govt wants to put us on digital one way or another soon. Never let a fucking crisis go to waste.
<\/conspiracy_theory>
<\/conspiracy_theory>
6
Eric Holder
2020 Jul 17, 10:30am
Eric Holder
2020 Jul 17, 10:30am
Newbie123 says
Right. Because everybody is perfectly ok with waiting 10-15 minutes just to pay for an ice cream cone. Digital coins rock! SEVEN TRANSACTIONS PER SECOND IS LIGHTSPEED!!!!
Cash sucks. Coins suck even more. Except digital ones.
Right. Because everybody is perfectly ok with waiting 10-15 minutes just to pay for an ice cream cone. Digital coins rock! SEVEN TRANSACTIONS PER SECOND IS LIGHTSPEED!!!!
7
Onvacation
2020 Jul 17, 11:38am
Onvacation
2020 Jul 17, 11:38am
Newbie123 says
What was the last thing you purchased with Bitcoin?
Not expecting an answer to this or any other question put to you. You go on HODLing and update how it works out for you.
Who still needs or uses coins? And for what?
What was the last thing you purchased with Bitcoin?
Not expecting an answer to this or any other question put to you. You go on HODLing and update how it works out for you.
9
EBGuy
2020 Jul 17, 5:53pm
Eric Holder says
Calm down now. Think of it a something between a credit card and check (how long does it take for a check to clear?) but NO BANKS are involved. No Western Union? No problem.
Right. Because everybody is perfectly ok with waiting 10-15 minutes just to pay for an ice cream cone
Calm down now. Think of it a something between a credit card and check (how long does it take for a check to clear?) but NO BANKS are involved. No Western Union? No problem.
10
Eric Holder
2020 Jul 17, 7:15pm
Eric Holder
2020 Jul 17, 7:15pm
EBGuy says
Transferring money across borders might be the one and only redeeming quality of that thing. But then again: you'll have no proof the money were received by the person it was intended for. In case of dispute it will be like you never sent anything. And the fact that it takes time for a check to clear is a GOOD thing most of the time: if you find out that you have been conned you can stop the check. With crypto your money is gone forever the moment you pressed that Enter button. And if you made mistake and instead of trasferring $2 mil for 10 bucks accidentally transferred 10 bucks for $2 mil - it's not reversible either.
Calm down now. Think of it a something between a credit card and check (how long does it take for a check to clear?) but NO BANKS are involved. No Western Union? No problem.
Transferring money across borders might be the one and only redeeming quality of that thing. But then again: you'll have no proof the money were received by the person it was intended for. In case of dispute it will be like you never sent anything. And the fact that it takes time for a check to clear is a GOOD thing most of the time: if you find out that you have been conned you can stop the check. With crypto your money is gone forever the moment you pressed that Enter button. And if you made mistake and instead of trasferring $2 mil for 10 bucks accidentally transferred 10 bucks for $2 mil - it's not reversible either.
11
AD
2020 Jul 17, 8:18pm
AD
2020 Jul 17, 8:18pm
.
Crypto currency like Bitcoin just seems like too much speculative investment that has too much risk of being stolen compared to silver and gold ETF's and coins.
By the way read this as far as speculation: https://www.forbes.com/sites/investor/2020/07/16/stock-market-crash-2020-welcome-to-the-end-game/#1fea3dba5782
What the author of the article has left out is that NASDAQ has doubled, yes it has. But it has doubled over the last 20 years hence growing only about 4% annually since early 2000.
.
Crypto currency like Bitcoin just seems like too much speculative investment that has too much risk of being stolen compared to silver and gold ETF's and coins.
By the way read this as far as speculation: https://www.forbes.com/sites/investor/2020/07/16/stock-market-crash-2020-welcome-to-the-end-game/#1fea3dba5782
What the author of the article has left out is that NASDAQ has doubled, yes it has. But it has doubled over the last 20 years hence growing only about 4% annually since early 2000.
.
13
RWSGFY
2020 Jul 17, 8:56pm
RWSGFY
2020 Jul 17, 8:56pm
Newbie123 says
And? Nothing ties any address to any particular individual. Everybody sees the movement between addresses, but good luck proving which address belongs to whom.
Nope, It’s like an open ledger. I you give me your address and I send money the two of us and anyone else can see it once the transaction has been confirmed.
And? Nothing ties any address to any particular individual. Everybody sees the movement between addresses, but good luck proving which address belongs to whom.
14
WookieMan
2020 Jul 18, 4:51am
WookieMan
2020 Jul 18, 4:51am
FuckCCP89 says
Biggest flaw with crypto. It's beneficial to know who holds what. You'll never know with crypto, so it can NEVER be trusted. For all we know there's 10 people holding 80% of BTC for example and they're manipulating the price of the remaining 20% of idiots that hold/trade it. If I'm 1 of those 10 and have made a billion dollars off morons, I can wait every other year or so to play with my yoyo and manipulate the market to get another billion. There's no counter argument to what I just said either because no one knows who has BTC.
but good luck proving which address belongs to whom.
Biggest flaw with crypto. It's beneficial to know who holds what. You'll never know with crypto, so it can NEVER be trusted. For all we know there's 10 people holding 80% of BTC for example and they're manipulating the price of the remaining 20% of idiots that hold/trade it. If I'm 1 of those 10 and have made a billion dollars off morons, I can wait every other year or so to play with my yoyo and manipulate the market to get another billion. There's no counter argument to what I just said either because no one knows who has BTC.
15
Onvacation
2020 Jul 18, 5:52am
Onvacation
2020 Jul 18, 5:52am
WookieMan says
Flaws? Untraceability is one of its touted features.
Biggest flaw with crypto. It's beneficial to know who holds what. You'll never know with crypto
Flaws? Untraceability is one of its touted features.
16
Tenpoundbass
2020 Jul 18, 8:58am
Tenpoundbass
2020 Jul 18, 8:58am
Newbie123 says
Typical Me-Leanial response. "I have no use for it, therefore I decree humanity must comply with my whims and wants."
Coins are great to give to kids to squirrel away in a huge plastic piggy bank that keeps flying off the shelves. And is probably where all of the coins have gone.
They are also great to use in vending machines that call for them. Oh and some towns still have coin operated parking meters. You can't toss a bit coin in a wishing well.
They are also great for calibrating a scale, and for those who still pay with cash, they are great for getting back exact change. So every purchase isn't rounded up.
Who still needs or uses coins? And for what?
Typical Me-Leanial response. "I have no use for it, therefore I decree humanity must comply with my whims and wants."
Coins are great to give to kids to squirrel away in a huge plastic piggy bank that keeps flying off the shelves. And is probably where all of the coins have gone.
They are also great to use in vending machines that call for them. Oh and some towns still have coin operated parking meters. You can't toss a bit coin in a wishing well.
They are also great for calibrating a scale, and for those who still pay with cash, they are great for getting back exact change. So every purchase isn't rounded up.
17
WookieMan
2020 Jul 18, 10:19am
WookieMan
2020 Jul 18, 10:19am
Tenpoundbass says
I hate cash, but still make sure to carry it. BTC as an "investment" is pure stupidity. People don't know anything about who holds it. With a stock you've got quarterly reports, reports for trades by owners, board members, etc, annual reports and much more. Fictional examples, but if Steve Jobs held 80 out 100 shares of Apple, if he buys or sells more means something. Nobody has a clue with BTC.
And with that in mind you'd be crazy to accept it as a form of payment ever. That and as has been mentioned by others that in the time a transaction takes place it could be worth 30% less by the time is complete. People "investing" in it are investing in a google sheets doc that uses massive amounts of power for literally no reason. When you bring these points up though, you get put on ignore. Oh well. I suppose the truth hurts.
Typical Me-Leanial response. "I have no use for it, therefore I decree humanity must comply with my whims and wants."
I hate cash, but still make sure to carry it. BTC as an "investment" is pure stupidity. People don't know anything about who holds it. With a stock you've got quarterly reports, reports for trades by owners, board members, etc, annual reports and much more. Fictional examples, but if Steve Jobs held 80 out 100 shares of Apple, if he buys or sells more means something. Nobody has a clue with BTC.
And with that in mind you'd be crazy to accept it as a form of payment ever. That and as has been mentioned by others that in the time a transaction takes place it could be worth 30% less by the time is complete. People "investing" in it are investing in a google sheets doc that uses massive amounts of power for literally no reason. When you bring these points up though, you get put on ignore. Oh well. I suppose the truth hurts.
18
Onvacation
2020 Jul 18, 12:23pm
Onvacation
2020 Jul 18, 12:23pm
WookieMan says
And if the HODLers never sell they will eventually end up with a stake in a spreadsheet that has no reason to update and no "miners" to update it.
People "investing" in it are investing in a google sheets doc that uses massive amounts of power for literally no reason.
And if the HODLers never sell they will eventually end up with a stake in a spreadsheet that has no reason to update and no "miners" to update it.
19
WookieMan
2020 Jul 18, 12:29pm
WookieMan
2020 Jul 18, 12:29pm
Onvacation says
I don't know why I posts on these crypto threads. They just piss me off. I know if Newbie had me off ignore he'd say something about the US dollar. Yeah.... the currency that is backed by the worlds largest military. The country that has massive amounts of natural resources. The country that even allows you to think digital numbers are valuable because they were mined with a fuck load of electricity and you trade them in US dollar. Yeah, that currency...
WookieMan saysPeople "investing" in it are investing in a google sheets doc that uses massive amounts of power for literally no reason.
And if the HODLers never sell they will eventually end up with a stake in a spreadsheet that has no reason to update and no "miners" to update it.
I don't know why I posts on these crypto threads. They just piss me off. I know if Newbie had me off ignore he'd say something about the US dollar. Yeah.... the currency that is backed by the worlds largest military. The country that has massive amounts of natural resources. The country that even allows you to think digital numbers are valuable because they were mined with a fuck load of electricity and you trade them in US dollar. Yeah, that currency...
20
Onvacation
2020 Jul 18, 1:08pm
Onvacation
2020 Jul 18, 1:08pm
WookieMan says
That's the funny part; crypto is always valued in fiat currency. WHEN all the world's fiat currencies finally crash, and they will within the next couple of centuries, no one will want your 0s and 1s in exchange for real goods.
I would hope even Newbie is starting to see that he is being scammed.
the US dollar. Yeah.... the currency that is backed by the worlds largest military. The country that has massive amounts of natural resources. The country that even allows you to think digital numbers are valuable because they were mined with a fuck load of electricity and you trade them in US dollar.
That's the funny part; crypto is always valued in fiat currency. WHEN all the world's fiat currencies finally crash, and they will within the next couple of centuries, no one will want your 0s and 1s in exchange for real goods.
I would hope even Newbie is starting to see that he is being scammed.
21
ignoreme
2020 Jul 18, 3:54pm
Onvacation says
That’s a misconception. Bitcoin is much more traceable then cash. You got to provide proof of identity to convert BTC to dollars, and since the whole blockchain is known, you can see exactly where the money came from.
Flaws? Untraceability is one of its touted features
That’s a misconception. Bitcoin is much more traceable then cash. You got to provide proof of identity to convert BTC to dollars, and since the whole blockchain is known, you can see exactly where the money came from.
22
just_passing_through
2020 Jul 18, 8:14pm
just_passing_through
2020 Jul 18, 8:14pm
I never got one, always thought it was gay. I did get gab and parlor though.
23
Onvacation
2020 Jul 19, 7:07am
Onvacation
2020 Jul 19, 7:07am
Newbie123 says
Finally making sense.
What would you rather have in your pocket, 50,000,000 satoshis or 1/2 oz. Of gold?
I'd take the real money.
Bitcoin=bad, gold=good.
Finally making sense.
What would you rather have in your pocket, 50,000,000 satoshis or 1/2 oz. Of gold?
I'd take the real money.
24
AD
2020 Jul 19, 3:56pm
AD
2020 Jul 19, 3:56pm
.
Newbie123 says
If someone steals bitcoin than can they easily transfer it to others who launder it for cash ? How traceable is this to the person that steals it ?
Can all the stolen bitcoin be recovered ?
.
Newbie123 says
Bitcoin is much more traceable then cash.
If someone steals bitcoin than can they easily transfer it to others who launder it for cash ? How traceable is this to the person that steals it ?
Can all the stolen bitcoin be recovered ?
.
25
Patrick
2020 Jul 19, 5:59pm
Patrick
2020 Jul 19, 5:59pm
Except for silver and gold, currencies are always a game of musical chairs.
They are fine until the music stops and you need a place to sit until the music starts again.
I could see Bitcoin imploding, or continuing to appreciate. I wouldn't make a huge bet either way.
They are fine until the music stops and you need a place to sit until the music starts again.
I could see Bitcoin imploding, or continuing to appreciate. I wouldn't make a huge bet either way.
26
just_passing_through
2020 Jul 19, 9:30pm
just_passing_through
2020 Jul 19, 9:30pm
Bitcorn: I think it's traceable on the American exchanges. Highly traceable. Foreign exchanges not so much.
27
ignoreme
2020 Jul 20, 5:05am
There might be countries that allow you to convert BTC to cash without proof of id but I doubt it. The US government would be putting tremendous pressure on any government that allowed that. We take money laundering seriously.
That being said there are ways to get some anonymity. There are services that people send BTC to and then they will do a bunch of fake transactions with it between fake accounts before ultimately routing it to an account you control. I’ve read academic papers that it’s still possible to figure out the inputs and outputs by looking at the transaction patterns. Also you got to trust the service not to fuck you. So much for decentralization.
There’s another cool one I tried a few years ago called purse.io. You create an Amazon wish list and add something to it. Say it costs 30 dollars. Then you send purse.io 25 dollars BTC and tell them about the wish list. Then a while later you’ll get the thing you wanted and the purse.io service would have transferred 22 dollars BTC to some other address.
I guess if the guy on the other end of that transaction was smart and bought an Amazon gift card with cash it’s fairly anonymous, but I bet if he were bin laudin and the FBI really wanted to figure it out they could. They can see I sent money to purse.io who sent it to the bin laudin address. Then they could ask me what was the thing bin laudin bought me on Amazon. Then they could ask Amazon how that thing was paid for and they would tell them gift card bought at quickie mart. Then if you bought the gift card with a credit card you are fucked.
Btc is security by obscurity, which doesn’t work.
That being said there are ways to get some anonymity. There are services that people send BTC to and then they will do a bunch of fake transactions with it between fake accounts before ultimately routing it to an account you control. I’ve read academic papers that it’s still possible to figure out the inputs and outputs by looking at the transaction patterns. Also you got to trust the service not to fuck you. So much for decentralization.
There’s another cool one I tried a few years ago called purse.io. You create an Amazon wish list and add something to it. Say it costs 30 dollars. Then you send purse.io 25 dollars BTC and tell them about the wish list. Then a while later you’ll get the thing you wanted and the purse.io service would have transferred 22 dollars BTC to some other address.
I guess if the guy on the other end of that transaction was smart and bought an Amazon gift card with cash it’s fairly anonymous, but I bet if he were bin laudin and the FBI really wanted to figure it out they could. They can see I sent money to purse.io who sent it to the bin laudin address. Then they could ask me what was the thing bin laudin bought me on Amazon. Then they could ask Amazon how that thing was paid for and they would tell them gift card bought at quickie mart. Then if you bought the gift card with a credit card you are fucked.
Btc is security by obscurity, which doesn’t work.
28
Onvacation
2020 Jul 21, 4:50am
https://www.marketpulse.com/20200721/silver-and-gold-rise-is-bitcoin-next/
Silver breaks $20/oz. Is bitcoin next?
Onvacation
2020 Jul 21, 4:50am
Bitcoin has remained entrenched in a range of USD9000.00 to USD9500.00 for over a month. The fall in volatility has led to a decline in participation by get-rich-quick FOMO traders, leading to a self-perpetuating negative feedback loop.
With precious metals marching higher, and signs that the V-shaped recovery trade is about to re-energise, Bitcoin looks poised to retest the bottom of its range, as its anarchist safe-haven appeal fades amongst the tin-foil hat, anti-5G brigade.
A failure of the USD9000.00 real fiat-currency support could see Bitcoin spike to the USD8350.00 zone, where both its 100 and 200-DMA’s are currently residing.
https://www.marketpulse.com/20200721/silver-and-gold-rise-is-bitcoin-next/
Silver breaks $20/oz. Is bitcoin next?
https://www.marketwatch.com/story/hackers-compromise-twitter-accounts-of-elon-musk-bill-gates-apple-others-in-crypto-scam-2020-07-15?siteid=yhoof2&yptr=yahoo