cryptocurrency forum (bitcoin and more)

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Is bitcoin giving people a way out?

Will certain people admit they were wrong if it does?
 
Just checking in. After buying 1 ETH @ 1k, we tripled our position at the $750 mark, and would have doubled again had it hit $500, but since that didn't happen we'll just have to be happy here for now.

Alts getting murdered, but what's new. Transitioned the losing money from TRX to BAT, figured it can't hurt anything.

Noticed my 1 NEO gave me a dividend of $.15-.20, so that's nice I guess.

Playing around with the $8 from our sporadic computer mining results in $13.20 so far (rode the last dip up in ETH) + 1 unit of BNB (on Binance)

Future plans: I'm speculating one more dip before a slight rise/hold (for a few months) before the next big push up, so I'm looking to pick up 100 units of OMG at around $7.50 optimally, and putting in the rest of my fiat into something like REQ. Later looking at picking up 0x and maybe some more BAT.
 
Schwimmy said:
Just checking in. After buying 1 ETH @ 1k, we tripled our position at the $750 mark, and would have doubled again had it hit $500, but since that didn't happen we'll just have to be happy here for now.

Alts getting murdered, but what's new. Transitioned the losing money from TRX to BAT, figured it can't hurt anything.

Noticed my 1 NEO gave me a dividend of $.15-.20, so that's nice I guess.

Playing around with the $8 from our sporadic computer mining results in $13.20 so far (rode the last dip up in ETH) + 1 unit of BNB (on Binance)

Future plans: I'm speculating one more dip before a slight rise/hold (for a few months) before the next big push up, so I'm looking to pick up 100 units of OMG at around $7.50 optimally, and putting in the rest of my fiat into something like REQ. Later looking at picking up 0x and maybe some more BAT.
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Think about this cycle:

1) Bitcoin goes down
2) People sell Altcoins to get into Bitcoin. Altcoin prices go down.
3) Bitcoin sold for fiat currency
4) Bitcoin goes lower
5) Fiat used to purchase Bitcoin
6) Bitcoin goes up
7) Bitcoin used to purchase Altcoins
8) Altcoin prices go up

Best to trade in Bitcoin pairing instead of using fiat ratios. Accumulate Bitcoin and Ether.

Sent from my SM-G935V using Tapatalk
 
That's the trend I've noticed over the last couple cycles.

I'll eventually get to where I'm using an X/ETH ratio, but right now I'm in a phase of accumulation of token. I'm basing the goals I have in my mind on fiat value because I'm spending a pre-determined amount of fiat, straight from Bank > LTC > ETH > Token in less than 2h.

Also, it's easier to explain to the spouse. 🙂

She hopes that we'll retire before the end of next year, since I've shown it's mathematically "possible", but I've told her that it's more likely to be a couple of years -if- this market maintains how good it's been and we play our hands right.
 
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Schwimmy said:
That's the trend I've noticed over the last couple cycles.

I'll eventually get to where I'm using an X/ETH ratio, but right now I'm in a phase of accumulation of token. I'm basing the goals I have in my mind on fiat value because I'm spending a pre-determined amount of fiat, straight from Bank > LTC > ETH > Token in less than 2h.

Also, it's easier to explain to the spouse. 🙂

She hopes that we'll retire before the end of next year, since I've shown it's mathematically "possible", but I've told her that it's more likely to be a couple of years -if- this market maintains how good it's been and we play our hands right.
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Yeah, it is easier to explain that way. I think of it in BTC or ETH pairings since I am looking to accumulate BTC/ETH long term. And, I sell the altcoins based on BTC value % increase.

Assuming more and more wealth starts to transfer out of traditional markets, combined with US dollar hyperinflation, the next 2 years will see Bitcoin increase 500-1000% each year. But, of course, it can't be predicted what exactly will happen.

Sent from my SM-G935V using Tapatalk
 
Lua said:
Yeah, it is easier to explain that way. I think of it in BTC or ETH pairings since I am looking to accumulate BTC/ETH long term. And, I sell the altcoins based on BTC value % increase.

Assuming more and more wealth starts to transfer out of traditional markets, combined with US dollar hyperinflation, the next 2 years will see Bitcoin increase 500-1000% each year. But, of course, it can't be predicted what exactly will happen.
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That's the truth. The spouse has been binge watching Vitalik (or whatever his name is from ETH development) interview videos in Russian.

I'm trying to pick up 250 units of LINK now, gotta get just a little lower on the /eth threshold to fill the order.
 
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Schwimmy said:
That's the truth. The spouse has been binge watching Vitalik (or whatever his name is from ETH development) interview videos in Russian.

I'm trying to pick up 250 units of LINK now, gotta get just a little lower on the /eth threshold to fill the order.
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Yeah, his name is Vitalik Buterin.

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Lua said:
Yeah, his name is Vitalik Buterin.
Click to expand...

She tells me that he reminds her of her first husband, who more or less sits at his computer for 12 hour coding binges (he's also stinkin' wealthy b/c he wrote/owns/maintains the computer systems for various hospitals in Canada).
 
Dred Pirate said:
because (at least with coinbase) - the fees are significantly higher than bank transfer
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That's true. I've just had the luck of having to wait a week for the bank transfer to buy a token, watch my vehicle token drop 30% in the meantime. My straight ETH buys have been with bank transfer now that I recollect.
 
After receiving my electric bill for the month, I have determined that it is not cost efficient to continue mining.
 
PharmDBro2017 said:
Damn that ain’t even that bad. I’m sure the majority of is from in-laws.
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Yeah, but I'm not sure it justifies only getting about $50 per month in Z-cash. I might experiment in a few months when they've left.
 
Schwimmy said:
Yeah, but I'm not sure it justifies only getting about $50 per month in Z-cash. I might experiment in a few months when they've left.
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Was always curious about mining. I don't know anything about Z-cash.
 
PharmDBro2017 said:
Was always curious about mining. I don't know anything about Z-cash.
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Lurking on the Ethermining subreddit it was suggested that lower-end rigs (read: not specifically constructed miners) would make more mining alternate currencies and then buying ETH with the funds.
 
msweph said:
My card now charges a cash advance fee - and they refuse to waive it. I'm sure they notified me in some generic email that I didn't read.

I used 1.5% cash back on my card, so the fee difference wasn't too bad.

Sent from my Pixel using Tapatalk
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Mine is a Paypal Debit Card run as Credit. Not sure if there's a fee on that, but it only became a thing a week or two ago.
 
Bitcoin just broke 10k. What do all the "experts" on both sides think now?
 
wagrxm2000 said:
Bitcoin just broke 10k. What do all the "experts" on both sides think now?
Click to expand...

Did you make any money on the gain? Maybe you should take out your 100 day average!?

There is resistance at the 8,000 level. If it breaks thru this level then 5,000 level will be the new resistance level.


Sent from my iPhone using Tapatalk
 
BMBiology said:
Did you make any money on the gain? Maybe you should take out your 100 day average!?

There is resistance at the 8,000 level. If it breaks thru this level then 5,000 level will be the new resistance level.


Sent from my iPhone using Tapatalk
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I'm glad you still think you know what's going to happen.

Oh and it bounced right off where I said it would, around 6 to 7k.
 
Who knew a bunch of pharmacists wore tinfoil hats; screaming at the top of their lungs when their prediction sores for one week, then dead silent the next when it trends the other direction. No one can predict where cryptocurrency is going in the long-term and I find the constant jawing and name-calling laughable.
 
aqb said:
Who knew a bunch of pharmacists wore tinfoil hats; screaming at the top of their lungs when their prediction sores for one week, then dead silent the next when it trends the other direction. No one can predict where cryptocurrency is going in the long-term and I find the constant jawing and name-calling laughable.
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I can guarantee you that they will go to $0 eventually. Quantum computing will render the entire system useless.
 
WVUPharm2007 said:
I can guarantee you that they will go to $0 eventually. Quantum computing will render the entire system useless.
Click to expand...

Why do you keep bringing up this concept you obviously don't have any real understanding of?
 
CetiAlphaFive said:
Why do you keep bringing up this concept you obviously don't have any real understanding of?
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Yeah, I'm obviously a *****.
....
They'll be able to reverse engineer your private key from your public key. There isn't enough computational power available with conventional computing right now to do such a thing, but that isn't always going to be true. Once qc takes off, I'm telling you, the current cryptos will be worthless. Unless they either completely restructure the encryption...which I'm pretty sure isn't possible...or someone designs a better coin.
 
WVUPharm2007 said:
Yeah, I'm obviously a *****.
....
They'll be able to reverse engineer your private key from your public key. There isn't enough computational power available with conventional computing right now to do such a thing, but that isn't always going to be true. Once qc takes off, I'm telling you, the current cryptos will be worthless. Unless they either completely restructure the encryption...which I'm pretty sure isn't possible...or someone designs a better coin.
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Sorry, but if you didn't even know what the fault proof universal computer was earlier in the thread, you shouldn't even be bringing it up as an anti-crypto Trump card.

The most advanced QCs are under 50 qubits.
Anything that could kill crypto would need to be in the millions.

Furthermore, the real problem would be the incRedible speed at which quantum machines could mine coins.
 
Forgive me for being a simpleton but if theft of paper money as well as counterfeit paper money hasn't destroyed the economy why would quantum computing destroy cryptocurrency? Isn't that like saying the invention of the printing press will destroy the paper money industry? Won't we simply use quantum computers to make and secure cryptocurrency?

And as computers become more quantum (full disclosure, I obviously have no idea what that word means) wouldn't the crypto technology become more secure as well? I mean cryptology and cryptology-breaking technology are always in a race to get ahead of each other, no?
 
CetiAlphaFive said:
Sorry, but if you didn't even know what the fault proof universal computer was earlier in the thread, you shouldn't even be bringing it up as an anti-crypto Trump card.

The most advanced QCs are under 50 qubits.
Anything that could kill crypto would need to be in the millions.

Furthermore, the real problem would be the incRedible speed at which quantum machines could mine coins.
Click to expand...

Brute force exploits dealing with mining and taking over 50%+of the ledger isn't the scary issue. It's being able to reverse engineer private keys. That doesn't take as much computing power as other methods.

There was a white paper about it released last fall. They estimated within 10 years, private keys will be compromised: https://arxiv.org/pdf/1710.10377
 
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Updoot time:

Spouse and I put some ETH into REQ, will monitor the ratio and plan to sell at a 50%/100% increase (too aggressive?). Keeping an eye on OMG, regretting not putting in more when it was under $10, but it's $18 now and we'd like to put in some of the ETH if/when it drops. Spent some fun money on, well, FUN!

Planning on putting more in OMG and ZRX (target entry is $15 and $1 respectively), as well as keep adding to FUN for the one-year holds.
 
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LINK went up 80% or so over the last 11 days, so I pulled out my profits to ETH and quick-flipped some OMG over the weekend for 6% gains, reinvested a little in BNB for the time being. Still waiting for ZRX to come so tantalizingly close to $1.

Could have made more on LINK it seems, but I'll wait for a dip before coming back in.
 
dude who bought with 400 million is smart. i wish i dropped 1k on coin when it was 8600, but i'm still financially budgeted
 
WVUPharm2007 said:
The reason it went up...is because he bought it...and drove it up.

It's yet to be seen if its smart.
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honestly bitcoin has been on a positive trajectory for a while now. anyone who knows about this and isn't investing now is foolish, this is a great opportunity. as pharmacists most people on this forum should easily have access to a few grand to spend on bitcoin on a routine business. for example, if you were to have put down 1k on bitcoin when it was 8600 a week ago, you would be up $350 right now. that's a free $350 right in your pocket for doing absolutely nothing. personally i only put down $100 week ago and i've already profited $35. bitcoin is at 11k right now and it seems like it's on a nice steady upward trajectory. things are only going to get better. seriously guys, what the hell are you doing just sitting on your ass and watching all this free money go to waste
 
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