Bitcoin

#281
#281
Thunder Good-Oil said:
The speculators are assuming that there's only Bitcoin. Maybe those are capped at 21 million or whatever, but 100s of competing currencies are emerging. This won't end well.
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Was solely talking about bitcoin and the limited supply.

Not sure if others are limited or what/how supply is created.

Each crypto appears unique with different pro/cons how they operate.
 
#282
#282
Crypto exchanges will be a thing. Kind of like FOREX. The volatility needs to diminish with orderly markets developed. CME and CBOE could thrive as well as the equity exchanges once this gets figured out.

I still can't get my arms around the mining and value creation. I don't trust the concept when there's a disk drive buried in a landfill with hundreds of millions of dollars on it. How/who created the finite number of Bitcoins and what prevents the creation of infinite competing currencies?
 
#283
#283
Thunder Good-Oil said:
Crypto exchanges will be a thing. Kind of like FOREX. The volatility needs to diminish with orderly markets developed. CME and CBOE could thrive as well as the equity exchanges once this gets figured out.

I still can't get my arms around the mining and value creation. I don't trust the concept when there's a disk drive buried in a landfill with hundreds of millions of dollars on it. How/who created the finite number of Bitcoins and what prevents the creation of infinite competing currencies?
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You are smart. Deep down, you know you can't justify bitcoin being $20, much less $20,000. Use your common sense and don't look any deeper into it than what it is.

The only thing of value that cryptocurrencies bring to the market is block chain technology. The crypto itself has no value other than it being an address on the block chain.

Ripple is the dirtiest shirt in the hamper of cryptos because it isn't "mined", just created... with the fingers of large banking interests seeming to be behind its creation. The mining of most other cryptos requires electrical work in the form of computer processing power to solve complex algorithms that allows you to build up more cryptos.
 
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#284
#284
Thunder Good-Oil said:
Crypto exchanges will be a thing. Kind of like FOREX. The volatility needs to diminish with orderly markets developed. CME and CBOE could thrive as well as the equity exchanges once this gets figured out.
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No possible way they could rig cypto market and sell more futures contracts than cryptos they have in their possession. That would never happen with the CME...


The Criminality of The Comex
These Large Speculators added 41,806 naked short contracts over these last five weeks. At 5,000 ounces of "silver" per contract, that's the equivalent of 209,000,000 ounces of silver.

In 2014, the entire world only produced 877,000,000 ounces of silver. Therefore, over just five weeks, the Large Specs naked shorted 24% of global mine supply. And, again, this is silver that they don't have.

Perhaps you think that, instead, this shorted silver has already been parked at the Comex for future sale. Well, as of Friday, the entire Comex silver vault holds just 183,000,000 ounces. So, over the past five weeks, these Large Specs have naked shorted 114% of the entire (registered and eligible) Comex vault.

However, only registered metal is allegedly marked and ready for sale/delivery. As you can see on the CME Silver Stocks report below, Friday's registered silver total was just 58,000,000 ounces. Using the same math, in just the past five weeks the Large Specs have naked shorted 360% of the total Comex registered vault.
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#286
#286
Rasputin_Vol said:
No possible way they could rig cypto market and sell more futures contracts than cryptos they have in their possession. That would never happen with the CME...


The Criminality of The Comex
Click to expand...

It would be a different animal. I mentioned the CME and CBOE possibly diving in, but I'm thinking of it more like the FOREX rather than a commodity exchange. BUT... the big money center banks are the backbone of the FOREX. I don't see them being as involved, or even desiring to encourage the concept, in inter-crypto exchange operations. Crypto exchanges, not futures, might well be in the wheelhouse of the CME and the CBOE (and ICE). Especially since they've already stepped into Bitcoin futures.

I don't think that crypto currency is going away and it seems like there should be markets to trade directly in and out of the various types. It's way too volatile and undefined right now. Theoretical exchange operations could promote stability and help the alternate currencies to become more mainstream. But no doubt the government has their nose deep in the operations of the CME, CBOE, ICE, etc. and that kind of runs counter to the appeal of cryptos.
 
#288
#288
Buffett still uses a flip phone. Every time he opens his mouth to discuss bitcoin, which has been a lot lately, he confirms he hasn't bothered to learn anything about it other than the financial impact it's had.
 
#290
#290
DinkinFlicka said:
China and Best Korea are ****ing it up today.
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There are rumors that Chinese mobsters have been using it to funnel money out of China. And the fact that South Korea might not recognize it should not be that huge an impediment. What is really happening is that people are realizing that there is nothing to this, and once it starts down, Look Out Below!
 
#293
#293
I dumped my lite coin at 274 after buying between 9 and 20. Almost perfect timing. I bought bitcoin from 1000 to 9000. I waited too long to dump it at 12ish. Kept holding as I watched it tumble. Did extremely well overall, but left lots of money on the table.

I'll probably take another pass at if it seems to stabilize and start an upward trend again.
 
#294
#294
ClearwaterVol said:
I dumped my lite coin at 274 after buying between 9 and 20. Almost perfect timing. I bought bitcoin from 1000 to 9000. I waited too long to dump it at 12ish. Kept holding as I watched it tumble. Did extremely well overall, but left lots of money on the table.

I'll probably take another pass at if it seems to stabilize and start an upward trend again.
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Well done. I wouldn't know where to begin with that stuff.
 
#295
#295
SWIL said:
Buffett still uses a flip phone. Every time he opens his mouth to discuss bitcoin, which has been a lot lately, he confirms he hasn't bothered to learn anything about it other than the financial impact it's had.
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Nick Saban uses a flip phone as well. I would never bet against Warren Buffett or Nick Saban.
 
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#296
#296
SpaceCoastVol said:
Well done. I wouldn't know where to begin with that stuff.
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I got in as a way to scratch an itch. I enjoy gambling. I did some research and decided to get out when everyone started talking about it. Just like gambling, I assume that when the public starts betting heavy it has become a bad bet.
 
#297
#297
DVWyGz2WAAABSm7
 
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#298
#298
Now companies are putting "Block Chain" in their names. It didn't end well for people that bought "dot com" names about 20 years ago.
 
#300
#300
Question guys.. is there a website that can give someone with limited knowledge, a basic course on how and where to invest? I have done some research but it seems lacking in "how to" and more of either "it's great" or "it sucks".

I might want to start investing small amou re and see how it goes.
 
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