Cryptocurrencies

https://www.cnbc.com/2018/02/06/bitcoin-price-will-crash-to-zero-nouriel-roubini-says.html

US congressional hearing tomorrow on crypto's .............

https://www.bloomberg.com/news/articles/2018-02-07/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says

Maybe we don't just take their word for it on bubbles and collapses

For every "it's going to collapse" article I can find a "it's going to skyrocket" article. 

https://www.cnbc.com/2018/02/07/bitcoin-price-could-hit-50000-this-year-experts-say.html

posted by justincredible

For every "it's going to collapse" article I can find a "it's going to skyrocket" article. 

https://www.cnbc.com/2018/02/07/bitcoin-price-could-hit-50000-this-year-experts-say.html

Goldman Sachs vs. industry insiders and no-name "experts"....

Personally, I think the bulge bracket banks will eventually come out with their own crypto initially pegged to a basket of currencies - that will bring price stability along with cheaper and more efficient transactions....which are the 3 biggest problems with crypto.  A few of the current pretenders will survive primarily to serve the black markets.

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

posted by QuakerOats

https://www.bloomberg.com/news/articles/2018-02-07/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says

posted by QuakerOats

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

Is it $0 or $2800?

In all seriousness, weren't we all pretty much saying we could see it hitting $1-2K?  Wouldn't surprise me at all.  It's volatile.

I am not invested in any crypto; I just post articles from time to time to give those who are invested some various points of view. 

Good luck to all. 

I am sticking with Nutanix - NTNX, which has risen nicely from my entry of $24 last October. 

Oh, I know.  Crypto is volatile.  It's going to have drops and rises until it levels out.

This one popped up in my Google feed yesterday.  Found it interesting:

https://www.bloomberg.com/news/articles/2018-03-15/bitcoin-bull-tom-lee-sees-more-pain-ahead-before-price-recovery

https://qz.com/1285209/bitcoin-pizza-day-2018-eight-years-ago-someone-bought-two-pizzas-with-bitcoins-now-worth-82-million/

Oh my

posted by QuakerOats

https://qz.com/1285209/bitcoin-pizza-day-2018-eight-years-ago-someone-bought-two-pizzas-with-bitcoins-now-worth-82-million/

 

Oh my

Yeah, that's allegedly the "first purchase ever" with BTC.  I've heard the story a few times.  That royally sucks.

Anyone familiar with OneCoin? Just binged the BBC podcast on it. Wow, very very facinating. I can't believe I've never heard of it.

I am not familiar with it. What's the gist?

Multi-BILLION dollar ponzi scheme posed as a crypto currency. MLM shadiness involved. Highly recommend giving it a listen. Their founder is currently on the lamb, her brother jailed in the US.

Nice. So many scam coins out there.

I forgot about this thread until you bumped it.

There was a new coin launch recently that is pegged to the coronavirus. 

https://www.cryptonewsz.com/coronavirus-based-cryptocurrency-coronacoin-enters-the-crypto-market/58914/

I'm not super knowledgable in crypto, but I do have some Bitcoin since I've recently adopted the Cash app. 

Most of my friends who were big into it a few years ago during the spike have lost their ass and since stopped talking about it. lol

posted by Automatik

I'm not super knowledgable in crypto, but I do have some Bitcoin since I've recently adopted the Cash app. 

Most of my friends who were big into it a few years ago during the spike have lost their ass and since stopped talking about it. lol

I've known about it since it was in the $10 range, I believe, but never bought early. Kinda forgot about it for 6-7 years and bought in during the big 2017 peak. I think I bought about $1000 worth when it was $15k, so that's down a bit.

If I knew in 2010 what I know now I would've put a large portion of my savings into it and HODL'd. Hindsight being what it is, I wish I would've spent more time learning the fundamentals/utility of it when I first learned about it. I'd be a millionaire many times over right now, while only converting a small portion into fiat.

That said, we're still very early in the life of it, and the last coins won't even be mined for another 120 years. I'm currently DCAing a little bit each week, hoping that it ends up paying off very well in retirement.

I have a friend of a friend who cashed out for ~250k in 2017. He's still traveling the world and not working. Lucky bastard.

Right now I'm just throwing extra funds at it for fun. Like I said, I'm a newb....just looked up what DCA meant. Will try!

Just keep stacking sats, as they say.

posted by Automatik

I'm not super knowledgable in crypto, but I do have some Bitcoin since I've recently adopted the Cash app. 

Most of my friends who were big into it a few years ago during the spike have lost their ass and since stopped talking about it. lol

Yep.  The people I know who lost hard fall into one of two camps:

(a) They stopped talking about it and either cut their losses (and are kicking themselves now) or are quietly waiting it out to see if it rises again, or

(b) They're working harder than ever to go pump-and-dump.

I still have some, but I made money on it.  Having said that, I'm mostly waiting for it to stop being an 'investment' and instead be what it was intended to be all along: a currency.
 

posted by justincredible

I've known about it since it was in the $10 range, I believe, but never bought early. Kinda forgot about it for 6-7 years and bought in during the big 2017 peak. I think I bought about $1000 worth when it was $15k, so that's down a bit.

If I knew in 2010 what I know now I would've put a large portion of my savings into it and HODL'd. Hindsight being what it is, I wish I would've spent more time learning the fundamentals/utility of it when I first learned about it. I'd be a millionaire many times over right now, while only converting a small portion into fiat.

That said, we're still very early in the life of it, and the last coins won't even be mined for another 120 years. I'm currently DCAing a little bit each week, hoping that it ends up paying off very well in retirement.

I bought 4 BTC back in late 2012.  It was like $50.  I sold before the height of the arc, though.  Still, grand scheme, it worked out.

I honestly don't care if they go back to being valued at $10, so long as they find a point of consistency.  That's when we'll really see its functional value: 'cash' you can spend across the globe'.  As a result, I'm betting you'll see more local businesses accept it, and there will be wallets (likely mobile device apps) developed to work with major mobile OSs so that it's as easy to use as Apple Pay or Android Pay.

But none of that's going to happen until it stops being primarily an "investment," because that's what seems to be causing the volatility.