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The Fearsome and Mammoth CRYPTOCURRENCY Thread!

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Fri Feb 02, 2018 9:05 am

Somebody just made 2.5 million dollars on a perfectly timed 100x long via Bitmex.

Balls of steel.

Looks like we're back....for now. :shock:

Imagecharge by John Yingling, on Flickr
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Fri Feb 02, 2018 10:00 am

Nice one.

At that same moment, I was this || close to pulling out completely.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby andteater on Fri Feb 02, 2018 10:12 am

the whole thing with this topic is that you have to be excited when shit drops off. it is the perfect spot to buy up more of your favorite coins. make a quick 10 to 30% - always happens.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby blackmarket on Fri Feb 02, 2018 11:28 am

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Fri Feb 02, 2018 11:34 am

blackmarket wrote:Image


He he, again.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Gramsci on Fri Feb 02, 2018 12:14 pm

prd wrote:Nice one.

At that same moment, I was this || close to pulling out completely.



https://www.theguardian.com/technology/ ... SApp_Other

Bitcoin has lost more than half its value since hitting a peak of near $20,000 in the week before Christmas. Dubbed “Dr Doom”, Roubini said the sharp fall was the beginning of a crash that would see the value of the digital currency plummet “all the way down to zero”.


Don’t ever say you weren’t warned
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Tom on Fri Feb 02, 2018 12:36 pm

Gramsci wrote:
prd wrote:Nice one.

At that same moment, I was this || close to pulling out completely.



https://www.theguardian.com/technology/ ... SApp_Other

Bitcoin has lost more than half its value since hitting a peak of near $20,000 in the week before Christmas. Dubbed “Dr Doom”, Roubini said the sharp fall was the beginning of a crash that would see the value of the digital currency plummet “all the way down to zero”.


Don’t ever say you weren’t warned


Don't worry. People warning about the dangers of bitcoin are about as common as people extolling the virtues.

It should also be noted that a kind of major stock trading company robin hood ( I hadn't heard of it, but apparently it's really popular with the kids) has announced they'll start trading crypto's and credit card processor Square will start taking bitcoin. These two pretty significant developments.


It might crash more...soon. It might night. I have no idea and I really don't think anyone else does either, except possible the small cadre of people who are manipulating the swings in the market.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Fri Feb 02, 2018 1:30 pm

Well, BTC itself doesn't scare me. I hold just a couple of tokens priced against it, so usually, when BTC falls, they fall even faster. Whenever there "feels" to be more room for a deeper slip, trading for Tether or FIAT, waiting for the bottom and re-buying on the cheap is a good opportunity to get more donuts and chocolate.

The downside is, it's annoying and fucking stressful, because it takes time and work, and the price may suddenly change directions and leave you in the dust, moaning and receiving "we told you, greedy fucker" sympathy as you clutch your shitty FIAT.

So I'm glad it bounced off before I panicked. As far as BTC and its destiny, I've been a hysterical author of many of its doomsday prophecies as well. Spiritually, I left it in 2016, financially, I ducked last fall. Intuitively, I go for Ethereum-based tokens, many of which would thrive if BTC fell (long-term).

When people say it's all bubble, they mean it's volatile. But it goes both ways.

The man is wrong in that the price will fall all the way down to zero. It doesn't work like that. Not for too long anyway. Lower price means the processing of transactions gets faster and cheaper, thus the network will get healthier and the price recovers. How high? You never know.

As long as two people use it, it will be worth something. Also, some folks underestimate how many people (geeks, I will give you that) simply love BTC. It's old, it's slow, but it will have its fair share of manic fans forever.

BTC is the Elvis of Crypto.
Last edited by prd on Fri Feb 02, 2018 4:20 pm, edited 1 time in total.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Sat Feb 03, 2018 12:10 pm

^ This. It may seem very convenient for me to agree with someone who's point benefits my views, but he's right.

FUD begone. We may very well see one more crash. Some are calling $6.5K as a bottom, but eh. We'll see. The next 48 hours will show the path.

I'd say the lowest Bitcoin could ever fall would likely be around $250-$500. PRD is correct. There will always be manic fans, and those who got in at those levels, certainly would be doubling down, to say the least, with some of the house money long before than.

Anything less is highly unlikely.

If / when BTC loses majority, we're going to see a whole new level of insanity and production. Any way you slice it, Ethereum will be huge in 2018.

Also, again, it's not just about Bitcoin anymore.

This is part of the reason why I bought large on Jibrel Network Token.

.65 cents and climbing, only one exchange with good volume. 100M cap at an even $1.

I actually gained from this shit during that crash. Could've swapped for ETH at the low and doubled.
Wasn't about trying to time that, though. Madness.

Lurkers, followers, if we do see mid to low .50's again on JNT, I would get the fuck in. If God forbid, it falls below that, the only trade I'd consider right now is to liquidate my Origin Trail and going heavy on this.

Comfy.

Stay safe.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Andrew. on Sat Feb 03, 2018 3:12 pm

gonzochicago wrote:^
Comfy.

Stay safe.


Sure.

Dozens of entrepreneurs, made newly wealthy by blockchain and cryptocurrencies, are heading en masse to Puerto Rico this winter. They are selling their homes and cars in California and establishing residency on the Caribbean island in hopes of avoiding what they see as onerous state and federal taxes on their growing fortunes, some of which now reach into the billions of dollars.

And these men — because they are almost exclusively men — have a plan for what to do with the wealth: They want to build a crypto utopia, a new city where the money is virtual and the contracts are all public, to show the rest of the world what a crypto future could look like. Blockchain, a digital ledger that forms the basis of virtual currencies, has the potential to reinvent society — and the Puertopians want to prove it. [...]

For more than a year, the entrepreneurs had been searching for the best location. After Hurricane Maria decimated Puerto Rico’s infrastructure in September and the price of cryptocurrencies began to soar, they saw an opportunity and felt a sense of urgency.

So this crypto community flocked here to create its paradise. Now the investors are spending their days hunting for property where they could have their own airports and docks. They are taking over hotels and a museum in the capital’s historic section, called Old San Juan. They say they are close to getting the local government to allow them to have the first cryptocurrency bank.

What’s happened here is a perfect storm,” said Halsey Minor, the founder of the news site CNET, who is moving his new blockchain company — called Videocoin — from the Cayman Islands to Puerto Rico this winter. Referring to Hurricane Maria and the investment interest that has followed, he added, “While it was really bad for the people of Puerto Rico, in the long term it’s a godsend if people look past that."

Puerto Rico offers an unparalleled tax incentive: no federal personal income taxes, no capital gains tax and favorable business taxes — all without having to renounce your American citizenship. For now, the local government seems receptive toward the crypto utopians; the governor will speak at their blockchain summit conference, called Puerto Crypto, in March.

https://www.nytimes.com/2018/02/02/tech ... d=fb-share


Psychopaths.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Andrew. on Sat Feb 03, 2018 3:16 pm

Laleh Khalili wrote:The more I read about cryptocurrencies (in the excellent books by David Golumbia and David Gerard) the more it seems to me that the crypto-utopians's dreams are for some sort of Randian Galt's Gulch - which happens to be run by a bunch of incompetent assholes who are just incredibly good at either Ponzi schemes or pump-and-dump.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prd on Sat Feb 03, 2018 3:24 pm

http://theconsciousresistance.com/2017/ ... n-country/

It was always gonna happen. And I would say it's an interesting experiment.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby kokorodoko on Sat Feb 03, 2018 5:09 pm

Andrew. wrote:
gonzochicago wrote:^
Comfy.

Stay safe.


Sure.

*text*

Psychopaths.

God damnit. Hell truly awaits.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby seanurban on Sat Feb 03, 2018 6:12 pm

Who else Is going to rebuild Puerto Rico, trump?
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Barbo on Sat Feb 03, 2018 6:55 pm

Andrew. wrote:
gonzochicago wrote:^
Comfy.

Stay safe.


Sure.

Dozens of entrepreneurs, made newly wealthy by blockchain and cryptocurrencies, are heading en masse to Puerto Rico this winter. They are selling their homes and cars in California and establishing residency on the Caribbean island in hopes of avoiding what they see as onerous state and federal taxes on their growing fortunes, some of which now reach into the billions of dollars.

And these men — because they are almost exclusively men — have a plan for what to do with the wealth: They want to build a crypto utopia, a new city where the money is virtual and the contracts are all public, to show the rest of the world what a crypto future could look like. Blockchain, a digital ledger that forms the basis of virtual currencies, has the potential to reinvent society — and the Puertopians want to prove it. [...]

For more than a year, the entrepreneurs had been searching for the best location. After Hurricane Maria decimated Puerto Rico’s infrastructure in September and the price of cryptocurrencies began to soar, they saw an opportunity and felt a sense of urgency.

So this crypto community flocked here to create its paradise. Now the investors are spending their days hunting for property where they could have their own airports and docks. They are taking over hotels and a museum in the capital’s historic section, called Old San Juan. They say they are close to getting the local government to allow them to have the first cryptocurrency bank.

What’s happened here is a perfect storm,” said Halsey Minor, the founder of the news site CNET, who is moving his new blockchain company — called Videocoin — from the Cayman Islands to Puerto Rico this winter. Referring to Hurricane Maria and the investment interest that has followed, he added, “While it was really bad for the people of Puerto Rico, in the long term it’s a godsend if people look past that."

Puerto Rico offers an unparalleled tax incentive: no federal personal income taxes, no capital gains tax and favorable business taxes — all without having to renounce your American citizenship. For now, the local government seems receptive toward the crypto utopians; the governor will speak at their blockchain summit conference, called Puerto Crypto, in March.

https://www.nytimes.com/2018/02/02/tech ... d=fb-share


Psychopaths.


Yup.

A good friend is wrapped up in this alchemy shenanigans. It has turned him into a crazy conspiracy theorist. A once helpful and generous person now has the “if you aren’t wealthy in a year it is your own damn fault” perspective. Quite a shame. This type of shit makes me very sad.

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby seanurban on Sat Feb 03, 2018 7:27 pm

The cult of crypto?
I hope he knows what he's doing.
I know nothing but I never did anyway.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Sat Feb 03, 2018 8:23 pm

Oh, just read some of the subs on Reddit, especially for specific coins/tokens. “Cultish” is an understatement.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby unsaved on Sat Feb 03, 2018 8:40 pm

Andrew. wrote:
gonzochicago wrote:^
Comfy.

Stay safe.


Sure.

So this crypto community flocked here to create its paradise. Now the investors are spending their days hunting for property where they could have their own airports and docks. They are taking over hotels and a museum in the capital’s historic section, called Old San Juan. They say they are close to getting the local government to allow them to have the first cryptocurrency bank.

What’s happened here is a perfect storm,” said Halsey Minor, the founder of the news site CNET, who is moving his new blockchain company — called Videocoin — from the Cayman Islands to Puerto Rico this winter. Referring to Hurricane Maria and the investment interest that has followed, he added, “While it was really bad for the people of Puerto Rico, in the long term it’s a godsend if people look past that."

https://www.nytimes.com/2018/02/02/tech ... d=fb-share


Psychopaths.


Opportunistic libertarian scumbags. Hopefully the locals who are still without electricity and water string them up.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Sat Feb 03, 2018 8:52 pm

One can only hope for some lord of the flies type shit to go down with them.

Call me stupid, but I'm quite excited by this bear market.

I missed my chance to take any major profit at the absolute peak, so now, I must wait. Since another crash to whatever it may be might be on the horizon, one may think it's rather silly.

However, I have to look at it this way. Being 40% down on my all time high, but 700% up on my initial, in a time of pure bloodshed, it would take an absolutely insane crash of epic proportions to bring me down to even 100% of my original input. We're talking BTC at $2,000. I'd say we'd likely reach a sobbing, fear-inducing bottom around $4,000.

However, those that rose from those ashes would begin a brave new world. :lol:

By that point, there would likely be some sort of catalyst. A long-haul Tether or whale swoop.

Timing anything is impossible now.

The time to cash out completely was weeks ago, so it's worth it to see. I'm in for the long haul, and I just cannot see a bear market that lasts longer than 6 months.

At this point, if I ever scrape a single dollar off my initial investment, I will be very, very surprised.

I never planned on a major cash-out until summer, anyway, so, I'm getting pretty giddy thinking about the what-if's.

Guess we'll just have to see how it all goes down. :twisted:
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby seanurban on Sun Feb 04, 2018 2:11 am

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.
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