I just bought $200,000 of Bitcoin

[happydreamer]

20 minutes ago, dj230 said:

Because my money doesn't drop 30% of its value in a weekend in a bank, all my money is transferred fine now, although I agree blockchains could be of future use, once there is a central bank crypto currency + banks using the technology, but the cryptocurrencies as of now are just Ponzi's, just don't be the last one holding the bag 

I think what you mean are the majority of alt coins are Ponzi's.  I get where you're coming from on that. But the more stable ones like SOL, DOT, ADA, XLR May have some use in the future once they have wider adoption and more practical use behind them.

[shdmn]

Welcome to the moonboy thread where everyone already has their sportscar picked out when their sheitcoin takes off aaaaany day now.  ????????‍♂️

Edited February 17, 2022 by shdmn

[dj230]

3 hours ago, Neeranam said:

Banks are using cryptocurrencies, you don't know what you are talking about. SCB were using XRP a couple of years ago for cross-border transaction but now using XLM, I think. All banks will have to use it or they will become like Blockbuster. 

 

 

XRP is down 50% from last year, great store of value!

 

3 hours ago, happydreamer said:

I think what you mean are the majority of alt coins are Ponzi's.  I get where you're coming from on that. But the more stable ones like SOL, DOT, ADA, XLR May have some use in the future once they have wider adoption and more practical use behind them.

All crypto's right now are ponzi's 

Edited February 17, 2022 by dj230

[Adumbration]

On 2/16/2022 at 9:36 PM, Pravda said:

I sold half yesterday. Maybe you missed that post.

So as of today down circa $5000 then...

[dj230]

On 2/16/2022 at 10:55 AM, Pravda said:

 

Ndax is great. I trust it more than biance or Coinbase. Very, very safe. They started with only 4-5 coins but are expanding. Yesterday they introduced integrated staking. Right now polkadot is at 12%. 

 

I would, but I don't like polkadot. I have 21 coins held in internet computer on Coinbase. This is the only long term project I believe in.

"

1. Lack of Investor Protection Insurance: Cryptocurrencies purchased and held in an account with NDAX including any staking crypto assets, are not protected by the Canadian Investor Protection Fund, the Canadian Deposit Insurance Corporation or any other investor protection insurance scheme."

on the Ndax website, wonder if you'll be insured if goes bankrupt. 

 

13 minutes ago, Adumbration said:

So as of today down circa $5000 then...

Plus his commissions, 0.2% on 200k, around extra $1k both ways 

Edited February 17, 2022 by dj230

[richard_smith237]

11 minutes ago, Adumbration said:

So as of today down circa $5000 then...

Anyone who uses ‘circa’ for anything other than dates is making a flawed attempt to sound more knowledge than they are....   Its not a strong basis from which to present a criticism !!! 

[Adumbration]

24 minutes ago, richard_smith237 said:

Anyone who uses ‘circa’ for anything other than dates is making a flawed attempt to sound more knowledge than they are....   Its not a strong basis from which to present a criticism !!! 

Get a life.  It is quicker to type than approximately...

[happydreamer]

2 hours ago, shdmn said:

Welcome to the moonboy thread where everyone already has their sportscar picked out when their sheitcoin takes off aaaaany day now.  ????????‍♂️

Keep it modest and stick with a good ol BMW and you'll be more than fine for 90% of the places you go here.  Far from the moon, but it does the job

Edited February 17, 2022 by happydreamer

[happydreamer]

2 hours ago, dj230 said:

XRP is down 50% from last year, great store of value!

 

All crypto's right now are ponzi's 

k.

[happydreamer]

2 hours ago, dj230 said:

XRP is down 50% from last year, great store of value!

 

All crypto's right now are ponzi's 

Watch how closely the crypto prices and action are tied to the actual stock market.  

[dj230]

8 minutes ago, happydreamer said:

Watch how closely the crypto prices and action are tied to the actual stock market.  

then why did it tank in 2018-2019 while the stock market rallied?

[happydreamer]

5 minutes ago, dj230 said:

then why did it tank in 2018-2019 while the stock market rallied?

It was a lot less regulated than it is now with a lot less large cap companies invested in it.

[happydreamer]

I'll say this much for anyone who cares to listen.  I get nothing from anyone if they buy into crypto or if they believe in it or in the technology that runs it.  But this much is fact....

 

Crypto now is regulated the most it has ever been in its history.  In order for large scale adoption to occur, there needs to be rules that govern the way it can be used, sold, bought, HODL'd, distributed, lent, taxed, whatever...

 

Tech companies worth billions aren't going to pour their money into something thats a YOLO.  They don't want the wild west of sh!tcoins.  They want an alternative unit of payment, trade, credit, whatever...that can be developed and used in ways that haven't even been thought of yet.  It's not solely meant to be currency.  Some of these coins are just byproducts of the projects that they're part of.  They won't ever have much value as currency or for trade.  But not all crypto is meant to be used as currency.  Some of it is tokens that are usable within the blockchain itself for developers or other "contracts" issued and executed on its system.  There's crypto thats 1:1 with fiat.  GUSD, USDC, DAI, UST, those are all equivalent to 1 USD.  So basically a crypto-dollar, which can be used just like a dollar in real life and with places that accept these as currency.

 

The fact that the majors (BTC, ETH, BCH, LTE) are worth something right now is because of its utility and availability in the future.  There's a finite number of bitcoin that will be minted.  Unlike fiat where they continue to print more when we run out, once all the bitcoin is mined thats it.  Think about that and the possible effects of value that has on something.  Just think about it for a not even a minute and relate it to things that are finite already and some of their values.

 

This is an ecosystem thats been developing over the past 15 or so years.  It's more developed and has more uses now than ever.  Will you lose money if you're a d!psh!t and put it on some sh!tcoin with no value...yes...you will.  Will you lose paper money being a d!ipsh!t and YOLO'ing in Vegas...yes...you most likely will.  The point is you can lose money either way doing about the same thing.  As I said before.  Mitigating risk is a real thing.  Know what you're getting involved with and most importantly...why.  

 

 

 

 

[steven100]

Bitcoin down  - 8.15%      this morning.     Pravda sorry for your loss ... 

 

 

 

Edited February 18, 2022 by steven100

[steven100]

[Pravda]

Time to back up the truck.

 

No guts no glory!!!!

[steven100]

7 minutes ago, Pravda said:

Time to back up the truck.

 

No guts no glory!!!!

another $200,000  should do it    

[Pravda]

Entry point 51,000 for 100k Canadian.

[happydreamer]

You know what else is down...everything...

Including large cap tech stocks and others who have a ton invested

 

 

[BritManToo]

10 hours ago, Adumbration said:

Get a life.  It is quicker to type than approximately...

approx Vs circa ......... only 1 letter in it!

[Neeranam]

2 hours ago, steven100 said:

Bitcoin down  - 8.15%      this morning.     Pravda sorry for your loss ... 

 

 

 

Come back in 6 months or 2 years. You obviously don't know anything about bitcoin of you think what it does in a particular day or week is relevant.

[Neeranam]

39 minutes ago, happydreamer said:

You know what else is down...everything...

Including large cap tech stocks and others who have a ton invested

 

 

Caused by the US trying to start a war in Ukraine.

[Pravda]

A bit of humor 

 

 

 

[sandyf]

On 2/15/2022 at 5:10 PM, Puccini said:

I am not into cryptocurrencies myself, wouldn't have the nerves for it, but I sincerely wish you good fortune with this adventure.

There may well be short term gains but the long term is another matter.

 

To put this into perspective, one Bitcoin transaction is the “equivalent to the carbon footprint of 735,121 Visa transactions or 55,280 hours of watching YouTube,” according to Digiconomist, which created what it calls a Bitcoin Energy Consumption Index.

https://www.nytimes.com/2021/03/09/business/dealbook/bitcoin-climate-change.html

[fdsa]

4 minutes ago, sandyf said:

There may well be short term gains but the long term is another matter.

 

To put this into perspective, one Bitcoin transaction is the “equivalent to the carbon footprint of 735,121 Visa transactions or 55,280 hours of watching YouTube,” according to Digiconomist, which created what it calls a Bitcoin Energy Consumption Index.

https://www.nytimes.com/2021/03/09/business/dealbook/bitcoin-climate-change.html

we have PoS sh'tcoins to address that problem.

[Neeranam]

@Pravda As I see it, you have 2 options here. 

 

1- HODL - this is well known to crypto holders, who are not in it for a short-term gamble, but a long-term investment.

 

2- Panic sell at $40,700 and limit your losses, get a resentment about how you were in crypto for a week and lost 10%, come back 1 year later when Bitcoin is $100k and tell everyone how most people lose. 

[Neeranam]

The news is only good for bitcoin.The haters here obviously are doing no research, or even reading the news, 

 

https://news.bitcoin.com/southeast-asias-largest-bank-dbs-to-launch-crypto-trading-retail-investors/

 

https://www.forbes.com/sites/robertolsen/2021/10/28/thailand-billionaire-familys-conglomerate-develops-cryptocurrency-for-employees/?sh=4fc301ec5b51

 

https://www.scb.co.th/en/about-us/news/feb-2021/blockchain-defi.html

 

 

Edited February 18, 2022 by Neeranam

[happydreamer]

2 hours ago, Neeranam said:

Caused by the US trying to start a war in Ukraine.

And your point?

[Neeranam]

29 minutes ago, happydreamer said:

And your point?

The reason for today's dip was caused by the US, just saying. 

 

https://www.algora.com/Algora_blog/2022/02/16/the-reason-the-us-wants-war-in-ukraine-is-ultimately-all-about-the-dollar

[happydreamer]

16 minutes ago, Neeranam said:

The reason for today's dip was caused by the US, just saying. 

 

https://www.algora.com/Algora_blog/2022/02/16/the-reason-the-us-wants-war-in-ukraine-is-ultimately-all-about-the-dollar

While I don't disagree with some of the reasoning in the article the source seems to have a very high degree of anti-American sentiment.  The entire contents of the blog does.

Putin is just as money and power hungry as any of the other b@stards that run superpower countries.  Don't think for one second he doesn't have US Congress on speed dial to talk about how they're gonna bluff this war and sit soldiers on the the border while they drink vodka and drive up the value of the energy sector (read as Oil).  Have you noticed the price of gas lately? Who do you think is benefitting from that?  Hint:  Every superpower with a vested interest.

Edited February 18, 2022 by happydreamer