home studios equipment staff/friends booking/rates for sale forum contact

The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Moderators: kerble, Electrical-Staff

The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Thu Sep 07, 2017 9:25 pm

Hey all,

I know there is a "Bitcoin" thread on the c/nc board, but it's no longer all about Bitcoin.

Like this currency itself, let's bring this into general discussion!

Like many, 5 years ago, I laughed at the thought of cryptocurrency. I waved away the thought of buying a bunch of Bitcoins at $50. They now sit at $4,500. This situation has, and will continue repeat itself. Maybe to a lesser extent, but, it happens every day.

The time is now. Not next year. You didn't "miss the boat". It's all happening right now.

If you have no idea what the hell any of this is, I'd suggest digging through the Bitcointalk forums, but Reddit and others have a wealth of information: https://bitcointalk.org/index.php?board=8.0

Small "Altcoins" and ICO (Initial Coin Offerings) are the future, and there's a world of crazy information and things to learn out there. More mainstream things like the currently $350 "Ethereum" (a cool concept in itself) to small interesting bits like "Siacoin".

Not to mention, the Chinese markets. I am eyeing NEO as we speak. Look it up.

The digital currency world is insane in China, and it's not slowing down. Cash is disappearing, and lines of people simply sit with their phone out, get the bar-code scanned on the Wechat app, and leave with their goods. Train tickets, all sorts. Despite the "ban" article circulating, I can say cryptocurrency will be adopted here. It's only a matter of time...and it's going to be a game-changer.

This thread is mostly for me to track my progress over time, as I'm just now beginning. Surely, there will be both dark and interesting times ahead.

I've signed up for Coinbase, which is basically an easy entry point with USD, and Bittrex, a more vast marketplace where you can turn mainstream coins into alternative coins.

I could write pages about what I've learned in merely a week, but let's keep this short.

I'm starting with an initial investment of $300. I've purchased 2 Litecoins, and am waiting for my first trade to hit next week, before I buy the less expensive NEO ("China's Ethereum") and Siacoin.

Who else is in on this? I'd love more friends with this as I learn.

Scary, crazy stuff. One wrong move and you're toast. What could go wrong?

Let's roll.

Beginner's edits below:

Chose Exodus as a wallet. Seems great for beginners. Super good interface, and has Shapeshift built in
Last edited by gonzochicago on Fri Sep 08, 2017 2:56 am, edited 1 time in total.
gonzochicago
Trygve Halvdan Lie
Trygve Halvdan Lie
 
Posts: 588
Joined: Wed Jan 27, 2010 6:16 pm

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Anthony Flack on Fri Sep 08, 2017 2:24 am

My friend who is a part-time crypto/blockchain coder just cashed out some of his for one million UK pounds. Good for him!
Anthony Flack
Greatest Man Who Ever Lived
Greatest Man Who Ever Lived
 
Posts: 8228
Joined: Fri Aug 03, 2012 12:27 am
Location: New Zealand

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Fri Sep 08, 2017 2:54 am

Anthony Flack wrote:My friend who is a part-time crypto/blockchain coder just cashed out some of his for one million UK pounds. Good for him!


:shock: Amazing. Is he going to re-invest? With even 1/4 of that much profit to play with, he could surely get another million with some good calls.
gonzochicago
Trygve Halvdan Lie
Trygve Halvdan Lie
 
Posts: 588
Joined: Wed Jan 27, 2010 6:16 pm

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Anthony Flack on Fri Sep 08, 2017 4:07 am

He still has more in, I don't know how much but quite a lot by the sound of it. This is the first time he's taken any out I think, and he's been involved for a few years now. He says it could collapse in value at any time, who knows, but as it stands he's got a million quid and however much crypto still invested.
Anthony Flack
Greatest Man Who Ever Lived
Greatest Man Who Ever Lived
 
Posts: 8228
Joined: Fri Aug 03, 2012 12:27 am
Location: New Zealand

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby free meat on Fri Sep 08, 2017 5:20 am

I've been thinking about getting in on this as well. Have absolutely no idea where to start though, so I'll be following this thread.
User avatar
free meat
boutros boutros-ghali
boutros boutros-ghali
 
Posts: 600
Joined: Mon Jun 01, 2009 7:08 am
Location: Glasgow, Scotland

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Fri Sep 08, 2017 6:24 am

Nice. I signed up for a Coinbase account this week after reading about it on Reddit. Have not bought anything yet since I'm still pretty clueless.

EDIT: Still pretty clueless but now own a couple of Litecoins. Let's go.
User avatar
Major
Heaven-Sent Hero
Heaven-Sent Hero
 
Posts: 6324
Joined: Sun Oct 30, 2005 11:19 am
Location: 29.7604° N, 95.3698° W

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby sulfur)addict on Fri Sep 08, 2017 9:21 am

lmao

I definitely still had a few dollars worth of Bitcoins from the **** **** days, but I'll be fucked if I remember where they are or my login for them.

If they're really at 90 to 1, that's probably a couple hundred.

C'est la vie.
Kerouacian as fuck.

NewDarkAge wrote:why, the fuck, would you post zizek in this thread
User avatar
sulfur)addict
Leader with Extraordinary Personality
Leader with Extraordinary Personality
 
Posts: 2895
Joined: Fri Aug 06, 2010 2:10 am
Location: Columbus, OH

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Fri Sep 08, 2017 9:44 am

free meat wrote:I've been thinking about getting in on this as well. Have absolutely no idea where to start though, so I'll be following this thread.


Just jump on all the boards and start digging. Grip Coinbase for the basics, Exodus seems like a solid, no hassle wallet, and Bittrex seems like a decent exchange.

Looks to me like the best first steps is just buying and transferring small amounts of things until you get the hang of how it all goes down.

I also signed up for Steemit, which is like a Reddit that gives you Steem coin. Will leech all my China stories to there as well, and see what comes of it. Probably not much, but I'm down to give anything a long-haul shot at this point, as it doesn't take too long to copy and paste it.

Once you sign up and verify all the things, uploads docs and such, it seems to take a few days for everything to get sorted, give or take depending on what you use.

Will do some heavier tinkering next week.
gonzochicago
Trygve Halvdan Lie
Trygve Halvdan Lie
 
Posts: 588
Joined: Wed Jan 27, 2010 6:16 pm

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Auntie Ovipositor on Fri Sep 08, 2017 12:08 pm

Pretty sure the other thread contains an exhaustive list of reasons why this is a not great sort of high risk gambling with a massive number of external risks (robbery, failing exchanges, inevitable regulation (esp in China)), but you know... create a new thread because you want to ignore all of that and there's no way the value is going to crash again, right?
The Loyalists are a rock band from Oakland, California
User avatar
Auntie Ovipositor
Leader with Extraordinary Personality
Leader with Extraordinary Personality
 
Posts: 2904
Joined: Tue Jun 09, 2009 1:52 pm
Location: Oakland, baby

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Defender on Fri Sep 08, 2017 3:05 pm

sheesh auntie you sound insufferable. :|
"a little red wine, vintage record, some Ambien ... and magic!"
- elon musk
User avatar
Defender
arrow of light
arrow of light
 
Posts: 806
Joined: Mon Apr 16, 2012 3:54 pm
Location: Green Bay

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Auntie Ovipositor on Fri Sep 08, 2017 5:57 pm

Defender wrote:sheesh auntie you sound insufferable. :|

Do yourself a favor and block me, sport. No reason you should suffer.
The Loyalists are a rock band from Oakland, California
User avatar
Auntie Ovipositor
Leader with Extraordinary Personality
Leader with Extraordinary Personality
 
Posts: 2904
Joined: Tue Jun 09, 2009 1:52 pm
Location: Oakland, baby

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Defender on Fri Sep 08, 2017 6:27 pm

just be nice mang ..
"a little red wine, vintage record, some Ambien ... and magic!"
- elon musk
User avatar
Defender
arrow of light
arrow of light
 
Posts: 806
Joined: Mon Apr 16, 2012 3:54 pm
Location: Green Bay

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Sat Sep 09, 2017 2:33 am

Auntie Ovipositor wrote:Pretty sure the other thread contains an exhaustive list of reasons why this is a not great sort of high risk gambling with a massive number of external risks (robbery, failing exchanges, inevitable regulation (esp in China)), but you know... create a new thread because you want to ignore all of that and there's no way the value is going to crash again, right?


The risk is, from my experience, one of the first things you learn about. The risk of robbery is now quite low, as there's solid places to put everything, where there wasn't before. Failing exchanges aren't very common if you just do your research beforehand. Even so, things are changing fast, and it's getting much easier to keep things safe, and more user friendly.

This is no longer about a single Bitcoin and thousands of dollars. One can put, and spread out, any numbers of dollars across many platforms, and that's its biggest advantage now.

Of course there's gamble and risk involved. Shit happens to even the most experienced users.

I still think it's absolutely worth poking at, even lightly.
gonzochicago
Trygve Halvdan Lie
Trygve Halvdan Lie
 
Posts: 588
Joined: Wed Jan 27, 2010 6:16 pm

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Auntie Ovipositor on Sat Sep 09, 2017 10:20 am

Defender wrote:just be nice mang ..

I am.
The Loyalists are a rock band from Oakland, California
User avatar
Auntie Ovipositor
Leader with Extraordinary Personality
Leader with Extraordinary Personality
 
Posts: 2904
Joined: Tue Jun 09, 2009 1:52 pm
Location: Oakland, baby

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Auntie Ovipositor on Sat Sep 09, 2017 10:34 am

gonzochicago wrote:The risk is, from my experience, one of the first things you learn about.

gonzochicago wrote:This thread is mostly for me to track my progress over time, as I'm just now beginning.

gonzochicago wrote:I could write pages about what I've learned in merely a week...


As per the rest of your post...

I love your drive and dedication in all of your ventures in life, and I know nobody is going to talk you out of anything, but it seems to me that you're engaging in exactly the sort of hubris that brings so many down. "Sure, there have been unpredictable events in the past, but those are in the past and now everything is slightly different so it can't happen again." The real subtext here is that BITCOIN IS WORTH $4500 AND SURELY THAT'S ONLY GOING TO GO UP RIGHT?!?! RIGHT?!?!

This is just Beanie Babies again. Or tulips. Or pet rocks. This isn't a sure thing or even a stable market.

In some perverse way, I love the fact that you're going to do your own thing here, regardless of what anyone says, because you're driven by your passions. I like that. Hopefully you get lucky and fund all of your future film ventures off of this. But if that happens, don't assume it's anything but luck.
The Loyalists are a rock band from Oakland, California
User avatar
Auntie Ovipositor
Leader with Extraordinary Personality
Leader with Extraordinary Personality
 
Posts: 2904
Joined: Tue Jun 09, 2009 1:52 pm
Location: Oakland, baby

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Sat Sep 09, 2017 7:54 pm

Auntie Ovipositor wrote:
gonzochicago wrote:The risk is, from my experience, one of the first things you learn about.

gonzochicago wrote:This thread is mostly for me to track my progress over time, as I'm just now beginning.

gonzochicago wrote:I could write pages about what I've learned in merely a week...


As per the rest of your post...

I love your drive and dedication in all of your ventures in life, and I know nobody is going to talk you out of anything, but it seems to me that you're engaging in exactly the sort of hubris that brings so many down. "Sure, there have been unpredictable events in the past, but those are in the past and now everything is slightly different so it can't happen again." The real subtext here is that BITCOIN IS WORTH $4500 AND SURELY THAT'S ONLY GOING TO GO UP RIGHT?!?! RIGHT?!?!

This is just Beanie Babies again. Or tulips. Or pet rocks. This isn't a sure thing or even a stable market.

In some perverse way, I love the fact that you're going to do your own thing here, regardless of what anyone says, because you're driven by your passions. I like that. Hopefully you get lucky and fund all of your future film ventures off of this. But if that happens, don't assume it's anything but luck.


I appreciate your position, I really do, and thanks for the perverse bits of confidence!

However, I think you are wrong on many accounts. I'll eat my hat in the years to come if it goes under.

Time certainly will tell....but let me touch on just a little of why I think that way.

First, just because I'm only beginning in the actual platforms, doesn't mean I haven't been watching. I've watched as a few core friends have built this from the ground up, and kicked myself every few months for not doing the same.

Living in China, I see the reality of the mobile payments industry every day. Wechat and Alipay have taken over slowly but surely over the last few years, and that shit is not going away. It's my thought that not only will America and other areas of the world eventually catch on to this, but it feels like a given it'll be alongside another way of doing things, monetarily. I think the internet has long dreamed of coupling its power with saying "fuck you" to whoever we can, and money / big banks were merely a dream to do just that, years ago. Now it's a reality, and it's only just beginning.

Regulations are going to come in hard, and it may tank everything. I highly doubt it though.

Bitcoin has been going for 10 years, but only in the last year or two has it gained any sort of notoriety. The fact is, the majority still have no idea what the hell this is. That's huge.

I think, in 10 years, we will all be kicking ourselves once again having doubted this industry. Now that I'm in, I'm going to stay in for at least 1 year, and see where it leads me. I'll update my progress along the way.

Like I said, it's not just Bitcoin, and I don't think it's purely luck any longer. People have swapped day-trading the stock market, to go all in on this, due to the smaller ICO's. Chart-reading tools are getting better and better, and the reality is, one can track this stuff, and the dips + selling points are insane if you can figure out how it works. That's one of my goals, but I'm not sure I'm smart enough. We'll see. Each market is currently wrapping its own block-chain network, and dozens of off-shoots are spawning from this, as well as new social media platforms like Steemit (Crypto's Reddit), ways to help communities, etc. New East Asia / S.E.A. based firms pop up each month. The user-base is going to get astounding, especially as income grows here.

We're talking about ICO Alt-Coins that come in at .005 cents and rise to $50 in a matter of weeks. That's insane, and a small investment, even if luck at first, could pay off crazily.

It's a long story.

However, I think of one were to start with a small investment like I am, a few hundred bucks they wouldn't miss too terribly, and then only re-invest profits, you could angle yourself as having nothing to lose.

Say you turn even $200 profit in 6 months. You play the long-game, reinvest only that profit, and grow from there. Tinker with small ICO's or $1 coins. Sure, some of this is penny-stock trading on a speedball. However, if / when it grows, you could take higher risks. Surely, some will pay off, and some won't, but you're then purely playing with "all-in" money at that point, and the worst case is, you start over.

As I said, time will tell, and I'll certainly keep you updated. Watch my rise and / or fall in real time. The proof will be in the puddin' I suppose. :lol:
gonzochicago
Trygve Halvdan Lie
Trygve Halvdan Lie
 
Posts: 588
Joined: Wed Jan 27, 2010 6:16 pm

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby glacialpace on Sat Sep 09, 2017 9:55 pm

I think my biggest hesitation around all of this is that there are so many of these crypto-currencies. I can definitely see more people going to a currency that is more global/unaffected by governments, and I think one of them will eventually take off, but who knows what it will be. I can't imagine Bitcoin is the best designed one of them all. Sure, Napster was great at first, and then it was quickly replaced by better things...
glacialpace
newbie
newbie
 
Posts: 2
Joined: Sun Nov 24, 2013 1:28 am

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Cranius on Sun Sep 10, 2017 4:21 am

good luck with the work-at-home scheme.
Last edited by Cranius on Thu Sep 14, 2017 7:12 am, edited 1 time in total.
User avatar
Cranius
World's Greatest Writer
World's Greatest Writer
 
Posts: 10334
Joined: Tue Aug 31, 2004 5:29 am
Location: Bethnal Green, Tower Hamlets

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby the finger genius on Sun Sep 10, 2017 6:56 am

Doesn't seem like a good thing. An increase in value should be based on something real, no?
jimmy two hands wrote:Then we all log off internet and eat nachos. All is well.

Eighteen Hundred and Froze to Death
User avatar
the finger genius
took picture of naked guy
took picture of naked guy
 
Posts: 1173
Joined: Sat May 31, 2008 10:04 pm
Location: NJ

Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Mon Sep 11, 2017 11:00 pm

We are all but ethereal bits floating in space.

I will try and ride a line of telling you what I've done, but not giving out specific information such as what prices I bought things at, and where I stand to a dollar amount.

My beginnings:

I forgot I had a few Nintendo stocks laying around, and there were actually gains on them since I purchased them, so I sold them.

This gives me about $300 capital of "fuck it money" to begin with. Good start, so let's roll the dice.

My beginning plan it to buy a few well-known things and take a risk on them long term, sell when my profit doubles. I am coupling this with a couple $20 gambles on very cheap coins, in the hope of 5X - 10X returns.

Only profits will be re-invested, aside from my base.

First, I'm betting on China. This is a long-term bet. Had a friend purchase me 4 NEO coins. Will look into the same amount of this companies companion coin GAS this Friday when my first trade is locked and I'm ready to hit the exchanges. Looking into a Chinese ICO that launches in October.

I bought a few Litecoins for the hell of it.

Looking into .05 cent (or under) coins for Friday as well. I missed the boat with Monero, which now sits at $100 per coin as of today. Ugh. Will likely buy on a few on a dip if it goes to $10, as it has a strong community behind it.

Siacoin seems to be a good one people are gambling on. At .006 cents, if it breaks $1, could be huge.

Planning my week-end moves now, but I think this is a good toe in the water.
gonzochicago
Trygve Halvdan Lie
Trygve Halvdan Lie
 
Posts: 588
Joined: Wed Jan 27, 2010 6:16 pm

Next

Return to General Discussion

Who is online

Users browsing this forum: Facundo and 15 guests