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The Fearsome and Mammoth CRYPTOCURRENCY Thread!

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Sun Feb 04, 2018 2:40 pm

seanurban wrote:
Major wrote:Oh, just read some of the subs on Reddit, especially for specific coins/tokens. “Cultish” is an understatement.

I know I should but I keep putting it off. Crypto combines two topics that I’ve never warmed up to: finance and coding. Laziness and fear are my only excuses.


The more I read about cryptocurrency, and particularly various sources of "investing advice", the more it becomes painfully obvious to me that this is nothing more gambling.

Every couple of days, and more frequently as of a late, a "shitcoin" goes tits up, leaving "investors" out X-amount of dollars (which is hilarious that the worth of the "currency" is still beholden to the value of USD/GBP/etc.) Reddit is littered with told-ya-so posts, followed by posts shilling the REAL next big thing, and so on and so forth. I don't care how good the "product" or white paper are. There is nothing stopping ANY of these "projects" from cashing out at the drop of the hat, taking everybody's money with them.

Thing is nobody knows what's going on or what's next. NOBODY. The folks crying Ponzi scheme are no better off than the folks yelling "FUD! HODL!" I do think blockchain has the potential to, and WILL, change the world.

I'm looking at it like this: if it IS for real, then the majority of us have missed the boat. We won't own any stake in New Puerto Cryptoland, but maybe we can visit someday. If it's all a sham, well, sorry for those that lost out.

It was fun for me for a few months, and full disclosure, I DID make some money. Now that I've had some time to clear my head and take a step back, it all seems quite absurd, and I feel it's time for me to get back to reality.

PHI +4.5
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby seanurban on Mon Feb 05, 2018 2:03 am

That's my feeling too. It may be a joke now but our kids are going to understand blockchains better than me so I owe it to them to try. I gamble all the time so that's not an issue. I just want to be able to talk about crypto as convincingly as I do about poker or craps.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Mon Feb 05, 2018 5:09 am

Wew, wee! This is gonna be a long post.

Yeah, Major, it does seem every week something goes "tits up" as you say, (Monero Gold this week), but most were pretty blatant scams from the beginning with even the lightest touch of reading. That's just my opinion, but maybe I'm too deep into this wormhole now, and over-think how much I dig. I'd say the one exception to that, would be that Confido project. Super stealth mode, IMO, and you only saw warning signs if you dug deep. I watched it go down.

I do agree with your views on the communities, by and large. It can be pretty gross, and I try and avoid the round-robin of crypto social media (Telegram, Discord, Reddit, BTCtalk, etc) kind of like I do now with Facebook / IG. Similar toxicity levels, but tripled down because there's money at stake.

I feel you on a lot of this....I do disagree with your what-if on us potentially missing the boat. That's why I started this thread in the first place. Look at what happened since I began this thread in September! People said the EXACT same thing at the exact moment I wrote this post (The "China Ban").

That was only four months ago!

If anything, this allows people to get into some of these supposed revolutionary projects at deflated prices (I'm looking at you, Chainlink, RLC, Request Network)

If I'm dead wrong, well, it's all belly up anyway, but...I've got a tingling feeling what I've said about this year being the "year of products" is going to come true...true use cases rising from whatever ashes this leaves.

We're about to see a literal shitload of these companies put their money where their mouth is on years and years of promises. That's a big deal. You could say "but this time is different", and you would not be wrong. That was one of the strongest bull runs in recent history, and it's come with one of the largest corrections. It was the first where "normal" people got on board on any significant level (Katy Perry's fucking nails on Instagram?) ...

Call me crazy.... My vote is : We are just reaching a bigger awareness phase. As I've said in the past here, only time will tell. The senate hearing tomorrow should be a hell of a thing.

Surely many have "I wish I would've sold the top" stories about now, but hey, ever sell a 10X thinking you're so damn smart, and have it go onto 50X in less than a few weeks? Know anyone who sold Ethereum at $20 when it was $1? Some friends of mine have stories for days..... :lol:

--------- END SURVIVORSHIP BIAS RANT

Anyway... Here we are. Another supposed "THE END!" This one's actually a doozy.

- Back into the $7K range. (That's not good)

- U.S. and the UK blocks credit card transactions (I mean, why wouldn't they? Can't believe I didn't see that one coming from a mile away....crypto-cash-advance....)

- China FUD about banning all web traffic to all the things for good. (Eh...meh)

Missed my exit on a 3X with Jibrel last night at 2AM, because I was tired and thought I wasn't thinking clearly. That would have been juicy because it was raising as everything else was dipping. I decided against it because I just don't have the time to watch this like a hawk for re-entry, and the project is so new literally anything could shoot it past my original ATH, even in these markets. It's happened already. Now sunk 30%, but I'm still up heavy, so...can't touch it now.

Besides, I would've had to cash it all out to make a big difference, and I'd be on the ringer for short term taxes on that, and still have to wait 2-3 days for it to clear my account, and then watch for bottom like a hawk. I don't have the time. This shit could largely be over in 4-5 days, at least in terms of my position on that trade.

One may think I'm stupid for such a position, but for me, it's high time to put my money where my mouth is and believe in this shit. It's been a time tested strategy, and I'm ready to bleed harder if this is truly the one time in the history of crypto-currency, that it is, indeed "THE. END."

Wouldn't that be something?

Waiting until week's end, and taking out one grand from any green positions for an upcoming trip to Shanghai.

The rest will go with me to the grave. Call me crazy, but.....

Ride or die....

Time to see what these markets are really made of. :twisted:
Last edited by gonzochicago on Mon Feb 05, 2018 6:27 am, edited 1 time in total.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Mon Feb 05, 2018 5:48 am

Major wrote:The more I read about cryptocurrency, and particularly various sources of "investing advice", the more it becomes painfully obvious to me that this is nothing more gambling.

Every couple of days, and more frequently as of a late, a "shitcoin" goes tits up, leaving "investors" out X-amount of dollars (which is hilarious that the worth of the "currency" is still beholden to the value of USD/GBP/etc.) Reddit is littered with told-ya-so posts, followed by posts shilling the REAL next big thing, and so on and so forth. I don't care how good the "product" or white paper are. There is nothing stopping ANY of these "projects" from cashing out at the drop of the hat, taking everybody's money with them.

Thing is nobody knows what's going on or what's next. NOBODY. The folks crying Ponzi scheme are no better off than the folks yelling "FUD! HODL!" I do think blockchain has the potential to, and WILL, change the world.

I'm looking at it like this: if it IS for real, then the majority of us have missed the boat. We won't own any stake in New Puerto Cryptoland, but maybe we can visit someday. If it's all a sham, well, sorry for those that lost out.

It was fun for me for a few months, and full disclosure, I DID make some money. Now that I've had some time to clear my head and take a step back, it all seems quite absurd, and I feel it's time for me to get back to reality.

PHI +4.5


It's all mess now, but I remember thinking the same thing in 2014, 2016 and even early 2017. If you read investment advice articles back in 2016, they were all about Ripple, Dash, Monero, Ethereum and -- to a lesser extent -- Peercoin and MAID. And Augur too. I mean, if you followed the advice that was up for grabs for everyone just twenty months ago, you are heading to Crypto Rico now.

It's of course way harder to tell the real deal stuff from rubbish these days, as the greed factor has escalated to a whole different level, but if you understand coding and can read source codes, you easily make up your own mind. You know what you invest to.

Thereabouts, you feel way more comfortable joining a community of the project. Not their fucking reddit or twitter, but the actual core of the project. You may suddenly find yourself liking the community itself, participating, helping out maybe. Right about then, you know precisely when to invest, because you read the software updates, you're in touch with their roadmap and hear about their contract negotiations before they actually take place.

Of course, staring at the charts 10 or 12 hours a day or night and playing the sell / buy game in hope one of your tips will jump 1000% in five days will dull you out. It's not how it works anyway. Unless you understand the project, you will panic-sell the moment it spikes for the first time. It's as with everything else. Most of the people who are only in for dough will get screwed in the end.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Mon Feb 05, 2018 6:31 am

prd wrote:
Major wrote:The more I read about cryptocurrency, and particularly various sources of "investing advice", the more it becomes painfully obvious to me that this is nothing more gambling.

Every couple of days, and more frequently as of a late, a "shitcoin" goes tits up, leaving "investors" out X-amount of dollars (which is hilarious that the worth of the "currency" is still beholden to the value of USD/GBP/etc.) Reddit is littered with told-ya-so posts, followed by posts shilling the REAL next big thing, and so on and so forth. I don't care how good the "product" or white paper are. There is nothing stopping ANY of these "projects" from cashing out at the drop of the hat, taking everybody's money with them.

Thing is nobody knows what's going on or what's next. NOBODY. The folks crying Ponzi scheme are no better off than the folks yelling "FUD! HODL!" I do think blockchain has the potential to, and WILL, change the world.

I'm looking at it like this: if it IS for real, then the majority of us have missed the boat. We won't own any stake in New Puerto Cryptoland, but maybe we can visit someday. If it's all a sham, well, sorry for those that lost out.

It was fun for me for a few months, and full disclosure, I DID make some money. Now that I've had some time to clear my head and take a step back, it all seems quite absurd, and I feel it's time for me to get back to reality.

PHI +4.5


It's all mess now, but I remember thinking the same thing in 2014, 2016 and even early 2017. If you read investment advice articles back in 2016, they were all about Ripple, Dash, Monero, Ethereum and -- to a lesser extent -- Peercoin and MAID. And Augur too. I mean, if you followed the advice that was up for grabs for everyone just twenty months ago, you are heading to Crypto Rico now.

It's of course way harder to tell the real deal stuff from rubbish these days, as the greed factor has escalated to a whole different level, but if you understand coding and can read source codes, you easily make up your own mind. You know what you invest to.

Thereabouts, you feel way more comfortable joining a community of the project. Not their fucking reddit or twitter, but the actual core of the project. You may suddenly find yourself liking the community itself, participating, helping out maybe. Right about then, you know precisely when to invest, because you read the software updates, you're in touch with their roadmap and hear about their contract negotiations before they actually take place.

Of course, staring at the charts 10 or 12 hours a day or night and playing the sell / buy game in hope one of your tips will jump 1000% in five days will dull you out. It's not how it works anyway. Unless you understand the project, you will panic-sell the moment it spikes for the first time. It's as with everything else. Most of the people who are only in for dough will get screwed in the end.


There really is a lot of gold in the shit. That's why I will hold Request Network until 2019. Their most recent update is fascinating as hell. Their community is amazingly respectful for the most part.

I've said this before, but there's no way all of this is going to go to hell.

It's weird to actually feel really stoked about this crash, in a lot of ways. A lot of changes will be made for the better, I think, in the end.

It's gonna be a hell of a year.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Mon Feb 05, 2018 8:08 am

Major wrote:
PHI +4.5


I parlayed that with the over and Foles as MVP. Fuck crpyto!
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Mon Feb 05, 2018 11:24 am

YAY! I wish it would go down to hundreds again, so normal people can buy in without paranoia, dip their toes in, actually use it instead of shooting their mouth off and all those communities where bitcoin tipping was normal come back.

And yeah, shitcoins would either go away or fall back to obscurity. If it goes down to 3000 USD, I may buy some again.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Mon Feb 05, 2018 8:48 pm

prd wrote:YAY! I wish it would go down to hundreds again, so normal people can buy in without paranoia, dip their toes in, actually use it instead of shooting their mouth off and all those communities where bitcoin tipping was normal come back.

And yeah, shitcoins would either go away or fall back to obscurity. If it goes down to 3000 USD, I may buy some again.


$6K :twisted: :twisted: :twisted: :twisted: :twisted:

Bottom predictions? I say $5K. :lol:

A few days ago, an "Older (by your standards anyway) Asian male" posted a cryptic message of "X Days" on 4chan. He continued to come back, and posted "3 hours", then made cryptic riddles that eventually people figured out to be "global selloff." Everyone thought he was full of shit. Then, boom, a 23,000 BTC sell order hit, and a decline started. He continued to tell people to do as they please, but that Rome "wasn't destroyed in a day".

He posts every day, with "Hi, it's me again. How are you doing?" and answering questions.

Honestly, it can't be a a larp. Dude timed it to a T.

I suppose if I was in this short term, then would have been the time to sell, but I still don't want to pay short-term taxes on that much. Sticking to my plan. :P

Supposedly, tomorrow : SEC just publicly released documents outlining that they will work to support crypto currency technology development with regulations to protect investors and protect the growth of blockchain technology

https://www.banking.senate.gov/public/_ ... 2-6-18.pdf

...a quick peruse...BULLISH AF. May be bad news short term, but certainly good news long term.

PRD :lol: :lol: :lol: ....I felt like I was the only one strangely excited by this crash. :lol:
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Tue Feb 06, 2018 3:58 am

On Saturday, I read (and did not regard) that a 100% FIB retrace for BTC would equal a price of $5650. Seems pretty realistic now. But while it's this low, I wish it goes yet lower so I can buy some. Three grand would do.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Tue Feb 06, 2018 9:43 am

prd wrote:On Saturday, I read (and did not regard) that a 100% FIB retrace for BTC would equal a price of $5650. Seems pretty realistic now. But while it's this low, I wish it goes yet lower so I can buy some. Three grand would do.


$3,000 would be insane.

Welp, I fucking caved. Sold off enough to pay off every one of my goddamn credit cards, on what may very well be another large "dead cat bounce". I've made so many mistakes the last few weeks, I'd never forgive myself for being able to grip a extra few grand if this indeed a last gasp for a while (even just a few weeks)

I haven't been debt free in like 10 years, so, that in itself is a huge goddamn win. Why I didn't do that weeks ago is beyond me, so, it's time. A wave of euphoria....

Fully prepared to be a bit upset when the rest of this recovers, but hey, how upset can I really be? Not very.

Let's see where the rest of it goes.

Arms at the ready.

As for skin in the market, that is certainly not over. It's nice to have the load off, and not burn money for no reason. That was my end game anyway. The rest is just bonus. Besides, I think I may have just gripped a new job from all of this shit! :twisted:

I've got big plans for this summer, so I am fully prepared to start buying some lows.

Game, set, match, for now!

:smt006
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Tue Feb 06, 2018 10:54 am

That's not a bad idea for starters. No debts, a clean slate. Clear mind.

There will be plenty of opportunity still. As my early-miner friend told me last fall, "it has not even started yet".
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Tue Feb 06, 2018 11:37 am

Well, I've got a shitload of student loans....but eh, low interest, and that's what round 2 is for. :twisted:

Hopefully there will be easier / better wallets by the time I build that kind of stack again. I was so sweaty all the time!

Be-gone, high interest! Ironic that I'll be finally wiping out my debt as credit card purchase bans come into place.

Score one for the little guy, I guess.

Ready for the real long-game now.

This SEC hearing is interesting! They said "HODL"! :lol:

It's going to be a hell of a year.
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