Cryptogeddon

[timendres]

3 hours ago, Thian said:

Swissrealcoin has the same chart as bitcoin...but maybe now is the perfect moment to join?

Investing in any crypto at this moment, in my opinion, is a mistake. I believe there is still quite a bit of downside before any next leg up. As for SRC, I would be waiting to see more from this group, as they just started, but at those prices, one could easily justify dipping a toe in the water. Sadly, they will not sell to US citizens.

[phycokiller]

 

3 hours ago, Hummin said:

If you bought early enough, same as a pyramid system, now they teasing you with rapid highs, and then low again, and how many different cryptos is it? More than 1000 you can buy, and all of them is legit? 

 

Lets keep it to the top 10, and who made money yet? Those who bought early, and pulled out on top, and now maybe invest again, still they have to wait for next top to get out right? It is a f....ng game, and you now it! When times come, and several countries select the next path, lets say G7 (G8 russia is suspended), or China and russia decides (russia and china buy gold, and have done it for years!) we will get an idea where it goes. Now it is pure speculations at its best. 

"they"? so its a giant conspiracy involving tens of thousands of people? Im retired on it, Im not pulling out at the top, no need to. if thats a f..ng game then its a good one

 

as for the thousands of different cryptos, sure most of them are going to go because they have no advantage over bitcoin, I wouldnt risk them myself

Edited June 25, 2018 by phycokiller

[phycokiller]

1 hour ago, Hummin said:

@Brunolem

 

Do you think any of the economic powers will jump on bitcoins or any any other crypto coins they do not have any influence or control over? I think there is a logic answer to that question. 

try telling that to Switzerland, Singapore or Japan. not that it matters, its outside of government control, they can only control the exchanges but most countries arent moving to ban exchanges, just regulate them like normal exchanges already are. you might think your logic is better then reality, but I'll take reality

Edited June 25, 2018 by phycokiller

[phycokiller]

21 minutes ago, timendres said:

Investing in any crypto at this moment, in my opinion, is a mistake. I believe there is still quite a bit of downside before any next leg up.

I don't think its a bad time to buy in, probably best to wait a few more months but I dont think its going much lower, just my opinion of course

[Hummin]

1 hour ago, phycokiller said:

try telling that to Switzerland, Singapore or Japan. not that it matters, its outside of government control, they can only control the exchanges but most countries arent moving to ban exchanges, just regulate them like normal exchanges already are. you might think your logic is better then reality, but I'll take reality

I know my gold will survive, will your coins survive to, the coins you depend your retirement on? I do not need to sell the concept of gold, because it is gold, but everyone who bought crypto´s, they feel the need to do so. Strange world we live in ? 

Edited June 25, 2018 by Hummin

[Brunolem]

2 hours ago, Hummin said:

@Brunolem

 

Do you think any of the economic powers will jump on bitcoins or any any other crypto coins they do not have any influence or control over? I think there is a logic answer to that question. 

Not at all!

They will create their own, government controlled, cryptos.

Russia is actually working on that...

[Brunolem]

5 minutes ago, Hummin said:

I know my gold will survive, will your coins sorvive to, the coins you depend your retirement on? I do not need to sell the concept of gold, because it is gold, but everyone who bought crypto´s, they feel the need to do so. Strange world we live in ? 

A simple electrical grid crash (see Puerto Rico) would be enough to erase all possibility of using cryptos.

Not to mention all kinds of nefarious activities on internet...almost every week, we read something about hackers stealings millions worth of cryptos.

 

Gold, on the other hand, has History to back it up.

Granted, all our predecessors in the past 5,000 years, were stupid, and we are the smartest generation that ever walked the Earth (just look at the results!), but I would rather stick with the known recipes.

Actually, there are countless very well seasoned investors who strongly recommend buying gold to protect one's wealth against the very uncertain and dangerous financial future...

 

[phycokiller]

1 hour ago, Hummin said:

I know my gold will survive, will your coins survive to, the coins you depend your retirement on? I do not need to sell the concept of gold, because it is gold, but everyone who bought crypto´s, they feel the need to do so. Strange world we live in ? 

oh dear, well I dont know if bitcoin will survive, but I do know that as an investment it did 4 or 5 times better then gold in the last year alone, despite the crash and all the negative posts about it. but each to their own I guess

Edited June 25, 2018 by phycokiller

[phycokiller]

1 hour ago, Brunolem said:

A simple electrical grid crash (see Puerto Rico) would be enough to erase all possibility of using cryptos.

Not to mention all kinds of nefarious activities on internet...almost every week, we read something about hackers stealings millions worth of cryptos.

 

Gold, on the other hand, has History to back it up.

Granted, all our predecessors in the past 5,000 years, were stupid, and we are the smartest generation that ever walked the Earth (just look at the results!), but I would rather stick with the known recipes.

Actually, there are countless very well seasoned investors who strongly recommend buying gold to protect one's wealth against the very uncertain and dangerous financial future...

 

a simple electrical grid crash will do a lot more then end cryptos, it will end civilization as we know it. good luck lugging your gold around to try and buy food at the supermarket if that happens

[Hummin]

12 minutes ago, phycokiller said:

oh dear, well I dont know if bitcoin will survive, but I do know that as an investment it did 4 or 5 times better then gold in the last year alone, despite the crash and all the negative posts about it

Then I have to tell my priority one more time. Im not i terested in 4-5 times what I have, I want to preserve what I have for the future. For me it is not excitement to make more money, it is not investment, it is not sport or gambling, I just need the safety and securing what I have with minor risk! Gold is the most sustainable and reliable investmen you can do in my eyes. Still you have nothing before you convert your coins in to something that have a real value! O

[Hummin]

3 minutes ago, phycokiller said:

a simple electrical grid crash will do a lot more then end cryptos, it will end civilization as we know it. good luck lugging your gold around to try and buy food at the supermarket if that happens

Thats what people have done for 1000’s of years, and it works!

[phycokiller]

13 minutes ago, Hummin said:

Then I have to tell my priority one more time. Im not i terested in 4-5 times what I have, I want to preserve what I have for the future. For me it is not excitement to make more money, it is not investment, it is not sport or gambling, I just need the safety and securing what I have with minor risk! Gold is the most sustainable and reliable investmen you can do in my eyes. Still you have nothing before you convert your coins in to something that have a real value! O

bitcoins are worth about 6000$, or 5 ounces of gold, is that not real value? Get real, you cant do anything with your gold unless you sell it, I can buy all sorts of things on the internet with crypto without having to lug bars of gold to a gold shop to sell it first. and dont you think its a little hypocritical to come onto a crypto forum and talk about the benefits of gold but when a person talks about the benefits of crypto on a crypto forum you call it selling it? 

Edited June 25, 2018 by phycokiller

[phycokiller]

7 minutes ago, Hummin said:

Thats what people have done for 1000’s of years, and it works!

they made stone axes for thousands of years as well but you dont see many people using them these days, and for that matter I have never seen anyone pay for anything using gold either

[Hummin]

3 minutes ago, phycokiller said:

they made stone axes for thousands of years as well but you dont see many people using them these days, and for that matter I have never seen anyone pay for anything using gold either

?? If everything goes to hell, bitcoin goes first, gold last! 

 

When it comes to being realistic I leave it to you. Bitcoin is real! You got it right, I got it wrong! No need to argue more about that! I accept your view of it, and your reality! 

[Hummin]

Btw I forgot, goldcoins have a real value, even every other  currency fails, just wanted to add that, and for some countries they are tax free to buy as well! 

[Thian]

3 hours ago, timendres said:

Investing in any crypto at this moment, in my opinion, is a mistake. I believe there is still quite a bit of downside before any next leg up. As for SRC, I would be waiting to see more from this group, as they just started, but at those prices, one could easily justify dipping a toe in the water. Sadly, they will not sell to US citizens.

Be fast for that leg up.....this coin is going down very fast right now...it might not even survive today

 

[phycokiller]

 

15 minutes ago, Hummin said:

Btw I forgot, goldcoins have a real value, even every other  currency fails, just wanted to add that, and for some countries they are tax free to buy as well! 

Im not saying your scenario isnt possible, but theres not really going to be anything to buy in it, I think currencies will be the last things on our minds if that happens, a stone axe will probably be more useful then a lump of gold. gold might still impress the ladies tho, who knows

[Brunolem]

1 hour ago, phycokiller said:

a simple electrical grid crash will do a lot more then end cryptos, it will end civilization as we know it. good luck lugging your gold around to try and buy food at the supermarket if that happens

There won't be any working supermarket...yet it will always be easier to trade, barter, with gold coins than with cryptos...

No matter what, there has always been a demand for gold, not so much for other kinds of money...

[Brunolem]

1 hour ago, phycokiller said:

bitcoins are worth about 6000$, or 5 ounces of gold, is that not real value? 

Depends how you look at it.

A few months ago, bitcoin was close to 20,000 dollars, and the sky was the limit.

Today, it is below 6,000 dollars, a 70% depreciation, and the cheerleaders have gone silent.

Meanwhile, gold has remained stable...

[phycokiller]

1 hour ago, Brunolem said:

There won't be any working supermarket...yet it will always be easier to trade, barter, with gold coins than with cryptos...

No matter what, there has always been a demand for gold, not so much for other kinds of money...

paper money is a thousand times more in demand at this stage of history and has been for a hundred years or more, unless you live in a basket case country like Venezuela where crypto is more popular, but yes, there wont be a working supermarket

[phycokiller]

1 hour ago, Brunolem said:

Depends how you look at it.

A few months ago, bitcoin was close to 20,000 dollars, and the sky was the limit.

Today, it is below 6,000 dollars, a 70% depreciation, and the cheerleaders have gone silent.

Meanwhile, gold has remained stable...

well you are talking about gold as a long term thing but you only want to look at the last six months of crypto, gold may have remained stable but its way behind crypto on a 5 year or even 1 year time scale

[lkn]

10 hours ago, phycokiller said:

paper money is a thousand times more in demand at this stage of history and has been for a hundred years or more, unless you live in a basket case country like Venezuela where crypto is more popular, but yes, there wont be a working supermarket

When a country goes through hyperinflation the problem is not with the currency per se, which is why it’s naive to think they can just switch to bitcoin, especially given the extreme poverty in the country, you really think people have a smartphone with a dataplan capable of running bitcoin wallet software and the means to buy bitcoins through an exchange?

 

What they will do is try to get ahold of foreign currency, for example Colombian peso or USD, but a government employee, who is paid in Venezuelan bolívar, is probably more likely to go straight to the supermarket with their salary, and then spend as much as possible on corn flour and other non-perishable food items. Though supplies are scarce, which is why many have left the country, and those with the means, will go to Columbia and buy food and other supplies to bring back to Venezuela.

 

So no, bitcoin is not more popular than paper money in Venezuela. But Columbian peso might be more popular than Venezuelan bolívar.

 

 

[Hummin]

14 hours ago, phycokiller said:

well you are talking about gold as a long term thing but you only want to look at the last six months of crypto, gold may have remained stable but its way behind crypto on a 5 year or even 1 year time scale

It doesnt matter, gold is the last that will have any value on this planet except food, water and secure shelter! 

 

For god sake bitcoins is the new pearls of glass, and Im sorry for those who believe there is a future, but it is still glass pearls at its best. Glass pearls can even be decorative, bitcoins, not so decorative! when shit hits the fan, what do you want to have in your pocket? Gold or bitcoins? 

 

[phycokiller]

34 minutes ago, Hummin said:

It doesnt matter, gold is the last that will have any value on this planet except food, water and secure shelter! 

 

For god sake bitcoins is the new pearls of glass, and Im sorry for those who believe there is a future, but it is still glass pearls at its best. Glass pearls can even be decorative, bitcoins, not so decorative! when shit hits the fan, what do you want to have in your pocket? Gold or bitcoins? 

 

what kind of shit hitting the fan are you talking about? Im not making my investment decisions based on the remote gamble that humanity is going to return to the stone age, and if it does Im pretty sure gold isnt going to help you much

[Hummin]

2 minutes ago, phycokiller said:

what kind of shit hitting the fan are you talking about? Im not making my investment decisions based on the remote gamble that humanity is going to return to the stone age, and if it does Im pretty sure gold isnt going to help you much

What kind of shit hitting the fan next time, we do not know yet ? 

 

you tell me why you think crypto currencies is safer than anything else. Som here said he had 12 different cryptos just in case, so he know he is gambling, do you know you are gambling? 

[Brunolem]

16 hours ago, phycokiller said:

paper money is a thousand times more in demand at this stage of history and has been for a hundred years or more, unless you live in a basket case country like Venezuela where crypto is more popular, but yes, there wont be a working supermarket

Paper money is in demand because it has been forced onto the populations.

And during these one hundred years or so of high demand, paper money has lost between 90 and 97% (depending on the currencies) of its purchasing power compared to gold...the depreciation being exponential, especially since 2008.

Remember that up until 1971 one ounce of gold was worth 35 dollars...

[Brunolem]

54 minutes ago, phycokiller said:

what kind of shit hitting the fan are you talking about? Im not making my investment decisions based on the remote gamble that humanity is going to return to the stone age, and if it does Im pretty sure gold isnt going to help you much

The actual monetary system is unsustainable.

In 2008, it hit the wall, and since then it has been kept barely alive thanks to massive money creation (doping) and ultra low interest rates (artificial respiration).

Meanwhile, debts that were already way too high, have exploded higher.

So, at some point, in the near future, the shit is going to hit the fan = this system will collapse.

If such a system was sustainable, humans would not have waited until 2008 to implement it...actually they have tried many times in the course of History, with always the same results...

[phycokiller]

9 hours ago, Hummin said:

What kind of shit hitting the fan next time, we do not know yet ? 

 

you tell me why you think crypto currencies is safer than anything else. Som here said he had 12 different cryptos just in case, so he know he is gambling, do you know you are gambling? 

sure, I would also be gambling by not buying crypto as well

[phycokiller]

8 hours ago, Brunolem said:

The actual monetary system is unsustainable.

In 2008, it hit the wall, and since then it has been kept barely alive thanks to massive money creation (doping) and ultra low interest rates (artificial respiration).

Meanwhile, debts that were already way too high, have exploded higher.

So, at some point, in the near future, the shit is going to hit the fan = this system will collapse.

If such a system was sustainable, humans would not have waited until 2008 to implement it...actually they have tried many times in the course of History, with always the same results...

humans werent exactly holding off, the technology wasnt there

[Skeptic7]

On 6/24/2018 at 8:14 PM, phycokiller said:

yes sure, it was the daily underneath that youve cut off I was commenting on 

Nothing cut off here, nor was anything meaningful in the previous chart. Still think it was too soon?

Thar she blows!