Bitcoin currency of the future?

[Der Eisbär]

This is one of many stocks that jumped on the crypto train. This biotech company just announced they were blockchain and sky rocketed since. This isn't even the one the SEC halted but is just as fraudulent:

It's called market confidence. You're upset that block-chain and crypto's are gaining more and more acceptance, adoption, and confidence. Please, continue sitting on the sidelines while we make money.

 

[JonesBones]

It's a con because why? Because you said so? How is it a con when they're in compliance with the IRS and US regulators and have one of the only licenses for trading in crypto? You literally have no idea what you're talking about. Their issue isn't that they're a con. Their issue is that they aren't scaling fast enough to keep up with the volume and uptick in traffic.

Bitcoin security isn't an issue. Exchange security can be an issue. You do understand that holding bitcoin on an exchange isn't the same as holding the bitcoin personally, right? They're actually two different things, you get that, right?

If exchanges that do bitcion arent secure, then neither is bitcoin. derp. Your bitcoin is not secure.

It is a con because they manipulate the price through insider trading. The fuckin CEO admitted it.

 

[Der Eisbär]

The one thing in my reading that I like about these crypto currencies is you can buy fractions of a full "coin" essentially.

Yeah, the same way you can have .01 of a dollar. Bitcoin has an even greater advantage of being divisible to the one hundred millionth, a satoshi, .00000001.

 

[JonesBones]

It's called market confidence. You're upset that block-chain and crypto's are gaining more and more acceptance, adoption, and confidence. Please, continue sitting on the sidelines while we make money.

Its called stupidity and a con. Which is why regulators halted another crypto stock. lol. you think Riot is a real blockchain company? lol/.

• The top US securities regulator halted trading of The Crypto Company, it said late Monday.
• The agency is concerned with the accuracy of statements produced by the company and has frozen shares until January 3.

 

[Der Eisbär]

If exchanges that do bitcion arent secure, then neither is bitcoin. derp. Your bitcoin is not secure.

It is a con because they manipulate the price through insider trading. The fuckin CEO admitted it.

The CEO paused BCASH trading to investigate accusations of insider trading. That =/= admitting insider trading buddy. I'm no coinbase fanboi but you sound fucking retarded.

 

[Der Eisbär]

Its called stupidity and a con. Which is why regulators halted another crypto stock. lol. you think Riot is a real blockchain company? lol/.

 

[JonesBones]

Coinbase comes to a halt. SEC is starting to halt crypto stocks.

 

[ToxicShocker]

I find it funny that the most shady stocks are crypto stocks. hmm....

The proponents of crypto currencies are mostly uneducated investors who don't know how the stock market works. Most investors don't realize or won't admit that the value of a coin is solely based on speculation. There's alot of opportunity for misappropriation on the backend, but the entire consumer marketplace is willfully ignorant to the risk they undertake. A coin is not a stock, therefore it has no base value derived from the current of future earnings per share of a product or service. Alot of people confuse blockchain with a product, but it is one free and second merely the distribution system by which their real world dollars pay other speculators.

Crypto coins are the new MLM scam.

 

[Tamriel Terror]

Well this is another subject but Mark Cuban said diversification is for idiots. Because you are just spraying and praying. You don't know what you are actually good at. What your trading edge is.

I am a student of Taleb and he brings that up. How if you look back at the DOW or S and P decades ago, few companies remain.

Just because you diversify your investments doesn't mean you're taking shots in the dark. You can research each individual crypto/investment and made educated logical decisions based on what you find. It can be painstaking, but its far from just throwing your money around.

 

[SwamiLeoni]

Its pretty amazing though that all it takes is one of the coins and we could have small fortunes.

In Binance I have money in (Tron, VeChain, Request Network, Power Ledger, Agrello, Ethos, Ark, and NEO). If only one of those blows up it'll be amazing for me.

Don't know much about Tron even though I own 500 for some reason. REQ / POWR / ARK / NEO are all in my bag as well. I had $2k in VeChain at $.60 but then looked at the historical trend for the past couple of years and sold out of it right before it boomed. Silly me but you can never anticipate the news.

 

[JonesBones]

Just because you diversify your investments doesn't mean you're taking shots in the dark. You can research each individual crypto/investment and made educated logical decisions based on what you find. It can be painstaking, but its far from just throwing your money around.

I agree but I was just talking to somebody irl and was saying how it is hard to apply rational principles to an irrational market. The market is not a rational entity. It is largely guided by emotion.

 

[rj144]

Well this is another subject but Mark Cuban said diversification is for idiots. Because you are just spraying and praying. You don't know what you are actually good at. What your trading edge is.

I am a student of Taleb and he brings that up. How if you look back at the DOW or S and P decades ago, few companies remain.

Are you kidding with diversification is for idiots? Every financial guru who isn't an idiot will tell you otherwise. You hedge against stocks with bonds. You hedge against inflation with gold and silver. It's the most common sense you can possibly do with your money.

By the way, didn't Cuban get rich off the dot com bubble?

From Wikipedia:

"That year, during the dot com boom, Broadcast.com was acquired by Yahoo! for $5.7 billion in Yahoo! stock.[35]

After the sale of Broadcast.com, Cuban diversified his wealth to avoid exposure to a market crash."

https://en.wikipedia.org/wiki/Mark_Cuban

 

[JonesBones]

Are you kidding with diversification is for idiots? Every financial guru who isn't an idiot will tell you otherwise. You hedge against stocks with bonds. You hedge against inflation with gold and silver. It's the most common sense you can possibly do with your money.

By the way, didn't Cuban get rich off the dot com bubble?

From Wikipedia:

"That year, during the dot com boom, Broadcast.com was acquired by Yahoo! for $5.7 billion in Yahoo! stock.[35]

After the sale of Broadcast.com, Cuban diversified his wealth to avoid exposure to a market crash."

https://en.wikipedia.org/wiki/Mark_Cuban

Ya, people pointed out he has diversified all over. It is just one opinion. I like to go around the table of opinions. I also talked about Taleb. I don't know if it was bravado by Cuban or whatever but he made it sound like diversification is for pussies. lol. I told somebody that recently jokingly. ETFs are for pussies.

 

[rj144]

Ya, people pointed out he has diversified all over. It is just one opinion. I like to go around the table of opinions. I also talked about Taleb. I don't know if it was bravado by Cuban or whatever but he made it sound like diversification is for pussies. lol. I told somebody that recently jokingly. ETFs are for pussies.

Cuban is kind of an idiot at times though. The dude got filthy rich off a bubble and now he's warning people against a bubble. He then diversified his assets and if what you said is true, he's telling people that's not wise. If that's not the definition of hypocritical, I don't know what is.

 

[Luminaire]

Cuban is kind of an idiot at times though. The dude got filthy rich off a bubble and now he's warning people against a bubble. He then diversified his assets and if what you said is true, he's telling people that's not wise. If that's not the definition of hypocritical, I don't know what is.

Cuban was an entrepreneur, a very successful one at that. He wasn't some day laborer throwing $1000 hard earned dollars at penny stocks hoping one hit big. If that's who he was he'd have gotten smashed in the .com crash and would be still a day laborer throwing his money at lotto tickets.

If you want to be Cuban in this scenario... then you're Charlie Lee, selling your Litecoin stake for like $6 billion before it crashes into dust.

 

[pookiyama]

I wouldnt be suprised if this went the route of Myspace. When a more user-friendly version comes out, it makes Bitcoin obsolete. The Black Market is a constant and so there will always be a crypto currency appeal. But With how limited Bitcoin is and the problems they have, a different company that works out those problems and makes it more user friendly(rather than just an invest and dump when ready investment)... that company will immediately take over. And that stock is at >$.25 right now, not thousands.

 

[mbinder]

You know what's funny to think about? All the people who used whole bitcoins back in the early days to buy drugs on the silkroad. I have no idea what the prices of things were, but I have to imagine there are people that pissed away millions and millions of dollars worth of bitcoins on bags of shitty weed.

 

[rj144]

Cuban was an entrepreneur, a very successful one at that. He wasn't some day laborer throwing $1000 hard earned dollars at penny stocks hoping one hit big. If that's who he was he'd have gotten smashed in the .com crash and would be still a day laborer throwing his money at lotto tickets.

If you want to be Cuban in this scenario... then you're Charlie Lee, selling your Litecoin stake for like $6 billion before it crashes into dust.

Anybody like him has to start somewhere. To build up to that kind of money requires a lot of research, business acumen, and luck. Yes, luck has something to do with it. He could have got smashed in the dot com bubble too, but he did get a bit lucky.

Anyhow, the point I'm trying to make is that most in this thread in the cryptocurrency have done our research. We know what is likely to do well in the future. Whether it does or not has a bit to do with luck as well.

 

[rj144]

I wouldnt be suprised if this went the route of Myspace. When a more user-friendly version comes out, it makes Bitcoin obsolete. The Black Market is a constant and so there will always be a crypto currency appeal. But With how limited Bitcoin is and the problems they have, a different company that works out those problems and makes it more user friendly(rather than just an invest and dump when ready investment)... that company will immediately take over. And that stock is at >$.25 right now, not thousands.

This may or may not happen with Bitcoin. But, to get to that point, blockchain needs ubiquitous and everywhere. This won't happen for a couple years at the very least. Only then would Bitcoin fade to nothing in your proposed scenario. Until then it's just anticipation of which is most useful.

 

[xcvbn]

The difference is that Apple and Tesla aren't gonna fuckin collapse tomorrow. They are real companies that create things.

lol at me missing out. I'm making real money, not this pixie dust you guys put in coinbase and kraken.

You sure care a lot about "pixie dust." Maybe it's time to reevaluate your life